Abdul Aziz Al Ghurair, Chairman of Dubai Chambers; Butti bin Mejren, Director General of DLD, and Hassan Al Hashemi, Acting President & CEO of Dubai Chambers. Image Credit: Supplied

Dubai: The Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with Dubai Chambers to enhance the investment environment and transparency in the emirate’s rental market.

The MoU will allow business councils and groups under the umbrella of Dubai Chambers to own and rent real estate and offices in the emirate.

It will also facilitate the exchange of knowledge and data related to the rental sector in Dubai, market research and joint training workshops.

In the presence of Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, the MoU was signed by Sultan Butti bin Mejren, Director General of Dubai Land Department, and Hassan Al Hashemi, Acting President & CEO of Dubai Chambers.

Al Ghurair said the agreement establishes a strategic partnership that complements Dubai Chambers’ 2022-2024 strategy and ongoing efforts to boost confidence in the real estate sector, which remains a key pillar of the emirate’s economy. He stressed the importance of constructive dialogue between the public and private sectors to support and drive Dubai’s sustainable economic growth and development.

He added that the agreement is the latest of many efforts and initiatives Dubai Chambers is launching to ensure a favourable business environment in Dubai and cater to the changing needs of companies in the emirate and its attractiveness among foreign investors.

Sultan Butti bin Mejren said: “The MoU with Dubai Chambers comes in line with our keenness to improve the experience of customers and investors while also providing a safe and attractive real estate environment.”

“This cooperation with Dubai Chambers aligns with both our visions, and we look forward to achieving the desired results and aspirations, which in turn will enhance the emirate’s global leadership in real estate investment, as well as empowering the real estate community through seamless services and integrated data.