|02 September, 2019

Dubai Land Department & BSA launch joint initiative to streamline UAE's real estate sector to promote future investment

A memorandum of understanding (MoU) between DLD and BSA was signed to promote foreign and local investment opportunities in Dubai

Dubai Land Department BSA launch joint initiative to streamline UAE's real estate sector to promote future investment

Dubai: Dubai Land Department (DLD) and BSA Ahmad Bin Hezeem & Associates LLP (BSA) subscribed to the Real Estate Lawyer (REL) initiative launched to streamline Dubai’s real estate sector processes.

A memorandum of understanding (MoU) between DLD and BSA was signed to promote foreign and local investment opportunities in Dubai through an innovative framework that will boost transparency and streamline transaction processes for investors in the sector. As part of the REL initiative, DLD is introducing several investment products to lift restrictions in the current real estate laws that will allow for more vigorous real estate investment in Dubai.

The new initiative will especially facilitate the purchase and sale of properties by corporate entities with ultimate foreign ownership, therefore opening up the market to more corporate investors.

HE Sultan Butti bin Mejren, Director General of DLD, said: “At DLD, we are keen to support the directives of our wise leadership and the strategies to make Dubai the smartest and happiest city in the world. The MoU with BSA further supports our mission to consolidate and attract foreign and corporate real estate investments to Dubai. We are working to strengthen the real estate sector in the Emirate through such partnerships that ensure the ease and speed of regulatory and investment procedures.”

Dr Ahmad Bin Hezeem, Senior Partner, BSA, said: “The overarching goal of this progressive initiative is to open up Dubai’s real estate market to more investors, increasing investment flows in the process. The REL initiative will provide a legal framework that streamlines and facilitates the process for investing capital in the city. This, in turn, will attract a wider range of investors and transactions.”

“It’s a pleasure to once again be joining forces with DLD in support of the work we have been doing over the past 20 years reinforce our clients’ investment interests in Dubai’s real estate sector. In essence, the enhanced investment framework proposed by the REL will simplify the processes for clients.”

BSA plays a major role in supporting international, regional, and local real estate investors —individuals, financial institutions, contractors, real estate brokers, or government bodies — with their transactions, developments, and general investments. Earlier this year, BSA was awarded Regional Law Firm of the Year 2019 at the prestigious ACC Middle East Legal Awards.

Majid Saqer Al Marri, CEO of the Registration and Real Estate Services Sector at DLD, said: “Our MoU with BSA is another step on our journey to ensuring the comfort and happiness of our customers through streamlining the processes of Dubai’s real estate sector. We will remain vigilant and progress upon our path of helping achieve objectives and keeping pace with developments in the field of registration and real estate services.”

This announcement comes after BSA’s previous collaboration with DLD to host ‘Legal Clinics,’ which provided the public with a six-hour window to access free advice from 25 expert lawyers, who specialise in areas as varied as real estate, construction, employment, compensation claims, criminal matters, debt recovery, tenancy disputes, inheritance, and family matters.

ENDS

About BSA Ahmad Bin Hezeem & Associates (“BSA”)
BSA Ahmad Bin Hezeem & Associates LLP was founded in Dubai in 2001, offering services that combine comprehensive knowledge of local law with a modern and progressive approach. The Team includes 110 lawyers, representing 30 nationalities, speaking 16 languages and working in 9 offices across the GCC. BSA’s access to key local authorities and solid legal expertise across a broad spectrum of industries sets them apart as one of the few Dubai headquartered legal practices that have exceeded their original boundaries. The firm’s clients include public and private sector companies, local businesses and multinationals from various industries, government owned entities and other law firms. BSA regularly represents and collaborates with international law firms, assisting with the delivery of high-end legal services.

About Dubai Land Department:
Dubai Land Department (DLD) was founded in January 1960 to establish the most prominent real estate sector in the Middle East and the world. It provides outstanding and integrated services to all its customers while developing the necessary legislation to propel the real estate sector in Dubai through the regulation of the sector, organising and promoting real estate investments, and spreading industry knowledge in search of regional and worldwide real estate innovation. DLD seeks regional and worldwide innovation in real estate with the aid of its active sectors that include real estate registration services, real estate investment promotions, and corporate support, and with the aid of its active organisations that include the Real Estate Regulatory Agency, the Dubai Real Estate Institute, and the Rental Dispute Centre.
Unified Toll Free Number: In order for Dubai Land Department to provide the best possible service in a rapid manner and to ensure the comfort and happiness of our customers, it has activated a new toll-free call centre number [8004488]. This can be used for all Dubai Land Department and Rental Disputes Centre enquiries.

Media Contact:
Elise Butler
Elise.butler@fourcommunications.com 
+971 (0)55 980 6697

© Press Release 2019

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