The Umm Al Quwain Free Trade Zone (UAQ FTZ) has entered into a Memorandum of Cooperation (MoC) with the Dubai Land Department (DLD), granting UAQ FTZ-registered companies the ability to legally acquire and register freehold property in Dubai under their business name. This deal marks a significant shift in the business landscape for companies operating in the UAE, particularly in terms of access to Dubai’s highly sought-after real estate market.
Key Points of the MoC
- Strategic Collaboration: The MoC enables companies registered in UAQ FTZ to directly purchase and own property in Dubai, expanding their opportunities in one of the UAE’s most lucrative and resilient real estate sectors.
- Business Empowerment: The collaboration between UAQ FTZ and DLD allows businesses to scale, diversify, and establish a stronger presence in Dubai’s dynamic property market, offering a pathway for long-term growth and stability.
- Legal Clarity and Institutional Support: The agreement provides businesses with the legal framework and institutional backing necessary to acquire freehold property in Dubai. Companies can now participate in the real estate sector with full legal clarity, bolstered by ongoing regulatory support.
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Empowering UAQ FTZ-Registered Companies
The partnership is a major step forward for businesses registered in the UAQ FTZ, a free zone known for being investor-friendly and accessible. Under the terms of the MoC, these companies now have direct access to the Dubai real estate market, which has long been considered one of the region’s most stable and high-performing sectors. The partnership removes previous barriers, opening up new opportunities for businesses to purchase strategic real estate assets that are aligned with their growth objectives.
- Direct Freehold Ownership: Companies will be able to register and own property in Dubai under their business name, allowing for greater flexibility in terms of operational and strategic planning.
- Integrated Digital Systems: The registration process streamlined, thanks to integrated digital systems that allow for faster processing of property transactions and ownership registrations.
- Transparency and Compliance: The partnership ensures that all property transactions are transparent, with a focus on anti-money laundering and counter-terrorism financing compliance.
Statements from Key Figures
Sheikh Mansoor Bin Ibrahim Al Mu’alla, Executive Director of the UAQ FTZ Authority, expressed pride in the partnership, stating, “We are proud to lead with purpose and enable our investors to participate in Dubai’s thriving real estate sector with full legal clarity and institutional support.”
Similarly, Johnson M George, the General Manager of UAQ FTZ, highlighted the transformative nature of the agreement. “This collaboration now gives our license holders the power to secure real estate assets in Dubai, aligning with their growth ambitions and offering long-term operational stability,” he said.
Majid Saqer Almarri, CEO of the Real Estate Registration Sector at the Dubai Land Department, emphasized the role of collaboration and innovation in driving investment. He noted, “We’re proud to work with UAQ FTZ to provide a seamless and legally sound framework that supports business expansion while upholding regulatory excellence.”
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Long-Term Strategic Benefits
This partnership creates a robust framework that allows UAQ FTZ-registered companies to not only purchase real estate but also build a stronger foundation for growth and expansion. The deal significantly enhances the attractiveness of UAQ FTZ as a business hub, offering both operational efficiency and the ability to make long-term strategic investments in real estate.
- Operational Stability: Acquiring property in Dubai provides companies with a secure asset base that can contribute to long-term business stability.
- Growth Potential: Companies can now align their real estate investments with their expansion plans, leveraging Dubai’s robust property market as a catalyst for further growth.
Conclusion
The partnership between UAQ FTZ and DLD is all set to revolutionize the way businesses. Approaching real estate in the UAE. By enabling companies registered in UAQ FTZ to acquire property in Dubai, the deal empowers them to expand their operations, diversify their assets, and secure a solid foundation for future growth. This agreement paves the way for even greater investor confidence in the UAE’s free zones, highlighting the country’s continued commitment to business innovation and success.
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