Published: Nov 19, 2018

Dubai Land Department Allows ADGM-Registered Entities to Buy Properties in Dubai

The Dubai Land Department (DLD) and Abu Dhabi Global Market (ADGM) have signed a memorandum of understanding (MoU) to allow ADGM-registered entities to own properties in Dubai.

This move will strengthen the Dubai real estate market as it broadens the base of potential investors. It also increases ADGM’s attractiveness as a free zone.

Land and property ownership in Dubai is still subject to the local laws, meaning that non-GCC national investors can invest in Dubai property only in designated areas. DLD has previously signed similar agreements with free zones in Dubai. However, the MoU expands the range of options that both local and international investors can use to own Dubai property and allows them to use an ADGM vehicle (such as a real estate company, an investment company, a holding company, or a foundation) to do so.

 

About ADGM

ADGM is an international financial free zone based in Abu Dhabi, UAE. Its goal is to develop and cement Abu Dhabi’s position as a global hub for business and finance.

Among its advantages:

  • It allows for 100% foreign ownership.
  • It offers competitive services and is cost-efficient.
  • The regulatory authorities are responsive to company needs and are adaptive to new developments around the world. It runs on an international regulatory framework based on Common Law. It has an independent court body.
    • Since its establishment in October 2015, ADGM received the “Financial Centre of the Year (MENA)” award for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.
    • ADGM is a member of the World Alliance of International Financial Centres (WAIFC), a network of international financial centres committed to sharing best practices and providing investment infrastructure to local economies.
  • It has an independent court body.
  • ADGM has a state-of-the-art arbitration hearing facility.

 

Key Contacts

David Bowman
Senior Associate, Real Estate

Nasouh Raslan
Associate, Corporate Structuring

back Chat with us

Disclaimer: This chat service should not be relied upon as a substitute for professional advice which takes account of your specific circumstances and any changes in the law and practice. No warranty is made as to the accuracy or completeness of the information provided via this service and no liability is accepted by Al Tamimi & Company Limited, its affiliates, partners or employees for any loss arising as a result of reliance upon the information provided.

I Agree   

Kindly accept the disclaimer to proceed to a live chat.

Please choose one of the following options below:

Thank you for your inquiry. We will connect you to one of our agents now.

Thank you. Which service are you looking for?

Thank you for your interest in working with Al Tamimi & Company. Please click here to view our latest job openings.

Please click here leave a message and we will get back to you shortly.

Chat