An understanding between “Mohammed bin Rashid for Enterprise Development” and “Dubai Land”

Under this memorandum, the Dubai Land Department will work to pave the way for the Foundation’s members to enter activities related to owners’ associations and various operations in the real estate sector, as well as to enhance cooperation between real estate companies and the Foundation’s members in the fields of design, contracting, consulting, and real estate management, in a way that supports the integration of these companies within the value chain in the sector, and enhances the opportunities for their contribution to real estate development projects in Dubai.

Dubai Economic Agenda

This step comes in support of the goals of the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033, and consolidate its position as the fastest growing and most attractive global center for multinational, small and medium-sized companies as well as local companies.

Within the framework of empowering Emirati competencies and talents, the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development seeks to support the launch of 8,000 new companies by 2033, and to raise the number of supported companies to 27,000 companies, compared to about 19,000 companies by the end of 2024.

The memorandum of understanding is also in line with the Dubai Real Estate Sector Strategy 2033, which aims to increase home ownership rates, enhance the sector’s contribution to the gross domestic product, and establish transparency and competitiveness in the market.

Entrepreneurs

For his part, Ahmed Al Roum Al Muhairi, Acting Executive Director of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, said that this partnership with the Dubai Land Department comes in line with the ambitious vision of our wise leadership, and reflects our commitment to enhancing the participation of Emirati entrepreneurs in vital sectors with promising growth, especially the real estate sector, which represents an essential pillar in the economic diversification efforts in the emirate. This agreement also contributes to opening direct channels of cooperation between entrepreneurs. And real estate developers, which enhances confidence in the system of supporting small and medium-sized companies, and confirms Dubai’s position as a global center for entrepreneurship and innovation.

Engineer Abdullah Ahmed Al Shehhi, Executive Director of the Real Estate Regulatory Agency at the Dubai Land Department, said that this agreement confirms Dubai Land Department’s keenness to enhance integration between government agencies and expand the scope of strategic partnerships that support the sustainability of the growth of the real estate sector in Dubai. He pointed out that small and medium-sized companies are an important tributary to the value chain in this sector, and we seek to enable them to work within a clear and stimulating regulatory environment, and enhance their readiness for effective participation in various real estate activities. We are also keen to provide regulatory frameworks. And guidelines that ensure raising the level of compliance and support the development of national competencies, in line with the objectives of the Dubai Real Estate Sector Strategy 2033, and enhance the market’s competitiveness and transparency.

Compliance and regulatory awareness

This memorandum places compliance and regulatory awareness at the top of its priorities, as the Dubai Land Department will work to provide members of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development with the necessary guidance on real estate legislation and operational requirements, in addition to organizing workshops and joint awareness initiatives, to enhance knowledge of the sector and raise professional standards among entrepreneurs.

On the other hand, the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development will promote the services of the Dubai Land Department through its various platforms and networks, while facilitating its members’ access to relevant services, in addition to organizing specialized training programs and coordinating initiatives to link small and medium-sized companies with real estate developers and concerned authorities.

Developers who support the participation of these companies will be honored, which contributes to enhancing shared value within the sector and consolidating the culture of cooperation that forms one of the pillars of Dubai’s economic strategy.