Page 241 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

4/1/24, 1:54 PM PRESSR: Dubai Land Department establishes first phase of strategic partnerships with 9 developers — TradingView News
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

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