Dubai Chambers and the DLD reinforce their partnership to bolster the local rental real estate market

In order to improve the transparency and the investment environment in the local rental real estate market, the Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with Dubai Chambers on 26th September, 2022. According to the new agreement, business councils and groups under the umbrella of Dubai Chambers are allowed to own and rent property and offices in Dubai. It also involves the facilitation of the data and knowledge exchange regarding the emirate’s rental sector, market research and joint training workshops.

Aimed at supporting the business community, the partnership is in line with Dubai Chambers’ 2022-2024 strategy to promote confidence in the emirate’s property sector. As a result, it will enhance customer happiness and guarantee the most productive results from all respective services in accordance with international standards.

The MoU was signed by HE Sultan Butti bin Mejren, Director General of the Dubai Land Department, and Hassan Al Hashemi, Acting President & CEO of Dubai Chambers, in the presence of HE Abdul Aziz Al Ghurair. That being said, HE Sultan Butti bin Mejren commented on the event:

Dubai Land Department’s efforts align with the directives of the wise leadership to establish a global-best economy that keeps abreast of the most prominent current and future global developments and practices, particularly regarding the real estate sector. The MoU with Dubai Chambers is in line with our keenness to improve the experience of customers and investors while also providing a safe and attractive real estate environment.

Established back in 1965, Dubai Chambers is a non-profit public organization, whose purpose is to promote Dubai as a global business hub. The organization consists of 3 distinctive entities – the Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai International Chamber. According to the data revealed by the chambers, its companies’ rose 20% in the first 8 months of 2022, which illustrates the positive impact of Dubai Chambers’ approach regarding the ease of doing business in Dubai and the support of companies with global expansion.