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ABU DHABI: The Department of Urban Planning and Municipalities (DPM) has today signed a Memorandum of Understanding (MoU) at an official signing ceremony at Cityscape Abu Dhabi 2019.
The MoU is an agreement with Smart Crowd Holding Ltd to promote economic growth in the UAE and encourage real estate investment through collective ownership.
The partnership aims to encourage the development of innovative ideas and mechanisms in property investment that will enhance the real estate sector and help achieve a more sustainable economy.
The MoU was signed by H.E. Mohamed Al Khadar Al Ahmed Executive Director - Strategic Affairs Sector of the DPM, and Siddiq Farid, CEO and Founder of Smart Crowd Holding Ltd.
H.E. Mohamed Al Khadar Al Ahmed Executive Director - Strategic Affairs Sector in DPM, said: “At the DPM, we support partnerships that encourage real estate investment, enhance quality of life and inspire innovation. The MoU will reinforce the DPM’s active pursuit of achieving these objectives for the benefit of the entire Emirate. It is an example that illustrates the need to build a more diversified real estate portfolio that attracts a wider range of the population. We hope this will be the start of a long and fruitful collaboration with our respective organization and will help encourage the private sector to participate and innovate for the benefit of the region.”
Mr. Siddiq Farid – CEO and Founder of Smart Crowd Holdings Ltd – said: “We are extremely excited and humbled by DPMs invitation to work collaboratively to bring innovation in real estate investing in Abu Dhabi. By sharing our experience and learnings we will be able to develop a framework that is beneficial to all stakeholders. This is extremely positive for the Emirate as well as UAE that the government is taking the lead in fostering and encouraging innovation”
The DPM will also be working in partnership with Smart Crowd Holding Ltd to develop innovative tools to encourage real estate buying and selling.
This will include analysis of Smart Crowd Holding Ltd’s joint ownership business model in Dubai and the possibility of implementing a similar one in Abu Dhabi.
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About World Urban Forum:
Established in 2001, the World Urban Forum is the world’s premier gathering on urban issues. The Forum examines the impact of rapid urbanization and its implications for social, economic and environmental policies in communities, cities and towns. UN-Habitat, the convener of the Forum, is the United Nations focal point for sustainable urban development working for an inclusive and prosperous urban future.
The Forum will bring together some 20,000 delegates from more than 150 countries. It will provide an opportunity to strengthen relationships and engagement and demonstrate the feasibility of incorporating sustainable and context-based practices in developed and developing countries.
Placed under the theme “Cities of Opportunities: Connecting Culture and Innovation”, WUF10 will be an opportunity for Abu Dhabi to further showcase its achievements in promoting and implementing sustainable urban development as well as playing a significant role in leveraging innovation and cultural. Key topics including human capital, resource management, education and mobility, data and much more, will also be discussed during the five-day conference.
About Abu Dhabi Department of Urban Planning and Municipalities
The Department of Urban Planning and Municipalities (DPM) was established by Law No. 5 of 2018 and is the entity responsible for supporting the growth and urban development of Abu Dhabi Emirate. The expert authority guides, regulates and monitors urban development activities, improves municipal work to provide comprehensive services and creates higher living standards for residents through the supervision and management of the municipalities and municipal councils.
The DPM ensures the use of best practices in all aspects of its business, and provides advice on urban development and municipal services, in line with the highest international standards. One of the DPM’s top priorities is to fulfil the vision of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, which draws on the vision of our UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
Abu Dhabi will host the 10th World Urban Forum (WUF10) in 2020. This will mark the first time when an Arab country will host the landmark conference. In close collaboration with UN-Habitat and the Ministry of Foreign Affairs and International Cooperation (MOFAIC), the DPM will organize the conference at Abu Dhabi National Exhibition Centre (ADNEC).
For further information, please don’t hesitate to contact us on:
Hamdah Al Shamsi
Director Media Affairs
Phone 024096347
Ruqaya AlSuroor
Assistant Senior Manager – Events
Email: Ruqaya.AlSuroor@dpm.gov.abudhabi
Phone 024096272
Anthony Hughes
Anthony.Hughes@newgatecomms.com
Shaimaa Aly
shaimaa.aly@newgatecomms.com
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