Dubai Tourism and Dubai Land Department have joined hands to promote Dubai’s real estate and tourism sectors. Both entities signed a Memorandum of Understanding (MoU) as part of a strategic partnership to bolster cooperation and mutual facilitation of their business ecosystems.
Both organisations will work together to identify appropriate platforms to promote Dubai as a destination for tourism, entertainment, and events, while also further enhancing Dubai’s real estate sector.
The MoU was signed at the Dubai Tourism offices by Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM) and Majida Ali Rashid, CEO, Promotion and Real Estate Investment Management Sector, DLD. The signing ceremony was attended by HE Helal Saeed Almarri, Director General, Dubai Tourism, and HE Sultan bin Mejren, Director General of DLD, along with several officials from both Departments, according to a press statement released recently.
UAE’s real estate sector has been seeing a slump since 2014 and the government in 2019 formed a special panel to create a more sustainable balance between supply and demand. This is among the many steps and reforms taken by the government to address the slump and boost investment.
As part of the MoU, plans include enhancing Dubai’s position as a trade hub and create an investment environment that is conducive to real estate projects. The entities will also work together to host trade exhibitions and promote the Emirate’s real estate and tourism sectors at international events. According to the press release, the MoU also includes offering wide-ranging support to companies as they establish their offices in Dubai, including reviewing legislation to integrate and elevate business standards as well as equipping them with the right infrastructure, events, and expertise. It also promotes the exchange of information, expertise, and continuous coordination to protect the intellectual property of both entities.