Page 227 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

4/1/24, 1:53 PM Dubai Land Department establishes first phase of strategic partnerships with 9 developers to support ‘Dubai Real Estate Programm…
Dubai Land Department (DLD), has initiated the initial phase of a sequence of strategic collaborations with nine developers to fortify
the ‘Dubai Real Estate Programme.’ This endeavour underscores DLD’s dedication to nurturing a proficient citizenry adept in
professional ethics and principles, thus enabling them to lead the trajectory of evolution and advancement in the real estate sector.

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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.

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