The Dubai Land Department (DLD) and Masdar City have inked a memorandum of cooperation that would enable businesses operating within the free zones to own land and property under the emirate’s freehold system, further opening up Dubai’s thriving real estate sector.
In line with the overarching objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033, which both seek to diversify investment flows and promote sustainable market growth, this strategic move aims to increase investor access.
New rights for free zone firms
Many free zone businesses in the United Arab Emirates were previously prohibited from directly holding real estate in Dubai. Companies licensed in Masdar City’s free zones will be able to buy real estate in the emirate’s designated freehold areas under the new agreement, provided they meet eligibility requirements and operate within a defined legal and administrative framework.
At a formal ceremony in Dubai, Majid Al Marri, the CEO of DLD’s Real Estate Registration Sector, and Ahmed Baghoum, the CEO of Masdar City, signed the collaboration.
Boosting transparency, efficiency
Now, the two organizations will collaborate to put in place a more efficient system that consists of:
- Direct communication and coordination between the Free Zone Authority and DLD
- Simplified and expedited registration processes
- A computerized platform for document verification, status monitoring, and application submission
- Advice and legal assistance for interested businesses
- The objective is to make it easier and more transparent for businesses to join the Dubai real estate market and to assist them in making well-informed ownership choices.
Why it matters
It is anticipated that the change will help Masdar City’s digital enterprises, green businesses, and innovative companies—many of whom are already considering expanding into Dubai.
According to Al Marri of DLD, the program “enhances the integration of the real estate ecosystem” and reflects Dubai’s ongoing efforts to create a more accessible and welcoming climate for investors.
Baghoum of Masdar City went on to say that the partnership “simplifies property registration processes” and helps companies looking to expand in the United Arab Emirates.
What’s next
The new framework is currently undergoing collaborative development, and a phased implementation is anticipated. As this project develops, it may establish a model for comparable agreements between DLD and other free zones in the United Arab Emirates, thereby increasing the accessibility of Dubai’s real estate market for international companies.
