The Dubai Land Department (DLD) and Ajman Free Zones Authority (AFZA) have signed a joint Memorandum of Cooperation to simplify processes for companies registered in AFZA to secure freehold ownership of land and property, streamlining the registration process.
The agreement aims to establish a clear legal and regulatory framework to enable AFZA-registered companies to easily integrate real estate assets under their corporate umbrellas, streamlining procedures within established frameworks. The initiative is projected to amplify transparency and catalyse investment, underpinned by steadfast adherence to legal and administrative protocols.
The collaborative framework is poised to elevate the investment appeal and competitive edge of both Dubai and Ajman as premier destinations within the real estate landscape. The agreement was signed by Director-General of the Dubai Land Department, Marwan bin Ghalita and Director-General of the Ajman Free Zones Authority in Dubai, Ismail Al Naqi, and was attended by senior representatives from both entities.
The agreement mirrors the UAE's foundational strategic tenets of accelerating economic advancement, attracting foreign investment inflows, and bolstering integrated governmental action.
This partnership will enable more efficient real estate registration procedures and cultivate greater regulatory adaptability, ultimately fortifying the UAE’s position as a distinguished global hub for business and investment.
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