Dubai Land Department Aims To Attract Foreign Investment Portfolios And Develop Dubai’s Mortgage Law

Dubai Land Department (DLD) has announced a number of new initiatives that aim to support the emirate’s economic diversification strategy by establishing Dubai’s real estate sector as the world’s leading property destination. The initiatives will see DLD developing a new mortgage and finance law in order to stimulate investment and streamline financial mechanisms in the real estate market.

DLD’s initiatives were presented to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, as part of a series of other initiatives that aim to stimulate economic growth. The Executive Council will implement the initiatives with the concerned entities based on the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

The main objective of the initiatives is to develop Dubai’s mortgage law to attract foreign investors and public joint stock companies listed on the NASDAQ market. They will also encourage alternative financing methods and enable investors to diversify their investments in the real estate sector, catering to investors with small and medium-sized portfolios.

His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “This initiative is a direct translation of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to achieve sustainable growth in the real estate sector. By developing Dubai’s mortgage law, we will help real estate organisations to operate in perfect harmony and enhance their smart resources to provide the best possible services to customers, support the GDP, and create strong new investment tributaries.”