The Dubai Land Department (DLD) has entered into a strategic partnership with the Ajman Free Zones Authority (AFZA) through a Memorandum of Cooperation, marking a significant step towards streamlining property ownership processes for companies registered in AFZA.
The agreement, signed by Marwan bin Ghalita, director-general of the DLD, and Ismail Al Naqi, director-general of AFZA, establishes a comprehensive legal and regulatory framework that enables AFZA-registered companies to integrate real estate assets under their corporate structures seamlessly. This alliance will —
- enhance transparency
- catalyze investment in Dubai’s thriving property market
The initiative aligns with the UAE’s broader strategy of economic advancement and regulatory adaptability following recent reforms that have transformed the investment landscape. These include —
- the introduction of full foreign ownership rights in over 1,000 commercial activities
- significant reductions in business startup fees
Marwan bin Ghalita emphasized that the memorandum charts a course for amplified collaboration with AFZA, supporting their mission to cultivate an enticing investment ecosystem aligned with Dubai’s forward-looking vision.
Ismail Al Naqi highlighted AFZA’s commitment to pioneering innovative solutions that streamline investor journeys and elevate the UAE’s investment appeal.
The collaboration is expected to particularly benefit companies operating in free zones, accounting for 60% of the city’s total goods exports.
This strategic alliance represents a significant advancement in Dubai’s ongoing efforts to enhance its position as a leading global real estate hub. By simplifying property ownership processes and strengthening regulatory frameworks, the initiative aims to —
- attract increased foreign investment
- contribute to the emirate’s economic diversification goals