The Dubai Land Department (DLD) and the Ajman Free Zones Authority (AFZA) have signed a joint Memorandum of Cooperation aimed at simplifying the process for companies registered with AFZA to acquire freehold ownership of land and property. This strategic partnership is set to streamline the registration process, enhancing coordination between government bodies and promoting synergy across the UAE’s business landscape.
The agreement was signed by Marwan bin Ghalita, Director-General of DLD, and Ismail Al Naqi, Director-General of AFZA, in a ceremony held in Dubai, attended by senior representatives from both organizations.
This new initiative outlines a comprehensive legal and regulatory framework designed to allow AFZA-registered companies to easily incorporate real estate assets under their corporate umbrella. By simplifying these procedures, the partnership aims to boost transparency and encourage investment, all while maintaining rigorous compliance with legal and administrative protocols.
The collaboration is expected to increase the attractiveness and competitiveness of both Dubai and Ajman as top-tier destinations in the real estate market.
Marwan bin Ghalita commented, “Driven by a commitment to the real estate market’s evolution, we consistently initiate strategic advancements that stimulate investment and nurture a resilient, attractive commercial sphere. This memorandum charts a course for amplified collaboration with AFZA, a synergy that will empower our mission to cultivate the property market and establish an enticing investment ecosystem aligned with Dubai’s forward-looking vision.”
Ismail Al Naqi added, “AFZA remains committed to pioneering inventive solutions that streamline investor journeys and contribute to elevating the UAE’s investment appeal. This partnership with DLD represents a significant leap forward in enabling businesses to confidently and efficiently grow their real estate investments within an integrated system that safeguards investor interests and provides a vibrant business environment.”
The agreement aligns with the UAE’s broader goals of accelerating economic growth, attracting foreign investment, and enhancing inter-governmental cooperation. By simplifying real estate registration and fostering regulatory flexibility, this collaboration is set to solidify the UAE’s standing as a premier global business and investment hub.
