This month we bring you a special focus on a continent that boasts the world’s largest free trade area, a diverse economic make-up and increasing political stability. The latest edition of Law Update focuses on Africa, a territory that continues to be an attractive business and investment destination.
Like the rest of the world, Africa is still re-building from the impact of COVID-19, however, there continues to be an optimistic view of the opportunities the continent presents. An example of the appetite for investment into Africa was captured in a report we commissioned, titled Legal Leaders in MENA. Our survey of legal leaders revealed a resounding desire to expand into new territories, with 81% naming Africa as their investment destination of choice.Read the full edition
Dubai, UAE, 13 July 2019: Dubai Land Department (DLD) announced the launch of a new real estate initiative known as ‘Real Estate Lawyer’ in partnership with Al Tamimi & Company. The agreement outlining the details of the initiative was drafted to facilitate growth in the real estate market by providing greater support for real estate investors and encouraging further foreign investor participation in the Emirate.
DLD’s real estate initiative is designed to increase transparency, streamline real estate transaction processes, reduce transaction time, and facilitate strategic partnerships between public and private sectors. The intention, as a result, is to propel further growth and investment into Dubai and Dubai’s real estate market.
HE Sultan Butti bin Mejren, Director General of DLD, praised the initiative and the role that the department’s partners can play in making it a success. He added: “Dubai is embarking on ambitious strategies to encourage real estate investment, beyond the expectations of global investors, to make Dubai the ideal choice. Facilitating and streamlining procedures is an important incentive to attract investors. We will continue to work with our partners from the public and private sectors to facilitate investment in Dubai real estate and launch more incentive initiatives while adopting the best innovations to ensure that real estate transactions are carried out with ease.”
Majid Saqer Al Marri, CEO of the Registration and Real Estate Services sector at DLD, said: “The real estate initiative will deliver multiple benefits to investors. Moreover, it will promote the Dubai real estate market on par with international standards, enhancing governance, transparency, and efficiency in the sector. We are confident that this initiative will boost the market’s appeal among investors and elevate the Emirate’s position as an attractive destination within the region for all nature of real estate-related transactions. We hope this initiative also improves Dubai’s ranking as a great place to do business.”
Mohammed Kawasmi, Partner – Real Estate, Al Tamimi & Company, said: “This is a great initiative from DLD, and we are delighted to support and provide services in line with this initiative for the benefit of all interested parties in Dubai’s real estate market. This initiative will certainly help place Dubai on the path to wider success by augmenting efficiencies and transparency, in line with the expectations of international investors, resulting in superior service quality.”
Al Tamimi confirmed that the launch of this initiative will enable it to offer additional services to property owners and investors. In particular, the initiative is designed to:
Tara Marlow, Partner and Head of Real Estate, Hotels & Leisure of Al Tamimi added: “We are extremely proud to be working together with DLD to bring this initiative to fruition and to be the law firm leading the way in supporting Dubai and the growth of foreign investment in the Emirate and its real estate market.”