Phoenix Realty Real Estate LLC is thrilled to announce a groundbreaking development from the Dubai Land Department (DLD). The DLD has introduced a new policy allowing companies operating in Masdar City’s free zones to own land and properties in Dubai under a freehold system.
This significant decision stems from a strategic Memorandum of Understanding (MoU) signed between the DLD and Masdar City. The goal is to enhance Dubai’s real estate competitiveness while aligning with the ambitious objectives set forth in the Dubai Real Estate Strategy 2033.
The MoU was officially signed by Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, CEO of Masdar City. The ceremony, which took place in Dubai, was attended by key representatives from both organizations.
A spokesperson for Phoenix Realty expressed excitement about the development, stating that it opens up Dubai’s vibrant real estate market to a broader spectrum of investors. This move not only empowers businesses within the Masdar City Free Zone but also solidifies Dubai’s reputation as a forward-thinking investment destination.
According to Al Marri, this initiative is part of a larger vision to position Dubai as the most attractive global city for living and working. The agreement aims to diversify the investor base, promote sustainable growth, and align with the goals of the Dubai Economic Agenda D33.
The partnership will facilitate an easier property acquisition process for companies in the free zone by establishing an integrated digital framework. This framework includes clear eligibility criteria, improved coordination among agencies, real-time data sharing, and streamlined documentation through an advanced online system.
As a leader in premium property development and investment services based in Dubai, Phoenix Realty is ready to assist free zone clients interested in exploring property ownership opportunities in designated areas across the city.
Baghoum of Masdar City highlighted that this initiative aligns perfectly with Masdar’s vision of fostering innovation and creating a conducive business environment. By simplifying property ownership pathways, this partnership not only benefits individual companies but also contributes to national economic growth and bolsters long-term investor confidence.
