The Dubai Land Department and Dubai Municipality will receive a major boost with the new restructuring plan

On May 14, Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, the Deputy Ruler of Dubai were briefed on the comprehensive restructuring initiative for the Dubai Land Department (DLD) and Dubai Municipality (DM), which encompasses property investments and expanding business opportunities with the help of private-public collaborations.

In particular, the restructuring plan for the DLD aims to promote the competitiveness of the local real estate sector and increase operational efficiency by 20%. As a result, Dubai is set to become one of the highest ranked destinations in the world in a number of real estate market indicators, including transparency and safety, in the near future.

It is also worth noting that twoDubai developers, DAMAC Properties and Nakheel, have recently announced the possibility of paying for their services with cryptocurrency. This step will majorly promote the emirate as a leading real estate destination thanks to the fact that property buyers will benefit from the absence of fees, taxes and loans, as well as the lower cost of units.

Sheikh Hamdan Bin Mohammed commented on the event, stating:

The comprehensive restructuring plans of Dubai Municipality and the DLD form part of Dubai’s efforts to transform itself into the world’s best city to live and work, and ensure its services and operations keep pace with the evolving global environment. It also seeks to raise the emirate’s ranking in various global indicators including environmental sustainability, food security, healthcare, and real estate investment.

The Dubai Municipality plans to be transformed into an organization with a private sector mindset. Not forgetting the bolstering of beneficial collaborations with the private sector in 8 major areas and the creation of new business opportunities worth AED 10B (USD 2.72B) per annum. In addition to providing high-quality services, the authority will focus on the latest developments in sustainability, fighting climate change and enhancing the circular economy. Additionally, the newly announced restructuring plan will help minimize operational costs by 10% and improve the quality of services by 20%, as well as optimizing the commercial, tourist and economic potential of public assets.

Sheikh Maktoum Bin Mohammed said:

Under the leadership of Sheikh Mohammed bin Rashid, Dubai has set an example for the world in constantly enhancing government operations. Today, we have new priorities and development plans aimed at maintaining the emirate’s competitiveness. To achieve our future aspirations, we need to be responsive to the needs of the community and enhance our productivity and quality. The next phase will see the emirate further improving its services and raising its level of government excellence. We will be closely monitoring the performance of government entities.