Page 206 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

professional ethics and principles, thus enabling them to lead the trajectory of evolution
and advancement in the real estate sector.

The strategic alliance agreement was signed by His Excellency Engineer Marwan bin
Ghalita, Acting Director General of Dubai Land Department, along with officials
representing leading real estate development companies. These esteemed companies
comprise Emaar Properties, Expo Dubai, Deyaar, DAMAC Properties, Azizi

Developments, MAG, Sobha Realty, Ellington Properties, and Al Bait Al Duwaliy Real
Estate Development. In the coming phases, we will witness further partnerships with
prominent developers and real estate brokers in Dubai, which will contribute to
qualifying more citizenes in the real estate sector.

The most important areas of collaboration

This agreement aims to collaborate in various areas, including enhancing the
competitiveness of Emirati professionals and facilitating their roles in the real estate
sector. It involves designing and implementing supportive, high-quality projects through
cooperation between the Dubai Land Department and real estate sector partners in the
emirate. Efforts will be made to allocate a 10% - 15% quota of their projects to be sold
through Emirati brokers.

Additionally, it aims to contribute to empowering national talents by providing job
opportunities within the second party in accordance with existing labour laws.

Eng. Marwan bin Ghalita emphasised the significance of this alliance and its

contribution to realising the objectives of the Dubai Real Estate Brokers Programme.
Launched to increase citizen participation in the real estate market, the program aims to
incentivise their involvement in real estate activities, thereby enhancing their
engagement in one of Dubai’s pivotal economic sectors: the real estate industry.

Empowering national skills

He said: “At DLD, we are committed to implementing the directives of our wise
leadership, emphasising the empowerment of citizens across diverse fields. This
commitment is evident in our focus on nurturing and enhancing national skills, which are
integral components outlined in the Dubai Social Agenda 2033 and the Dubai Economic
Agenda D33 initiated by our visionary leadership. We eagerly anticipate collaborating
with our partners in the real estate sector to achieve remarkable outcomes that resonate

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