Sultan Butti Bin Mejren, Director General of the Dubai Land Department said that the plans to enhance the capabilities of the real estate sector in Dubai are going according to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and in line with the broad development aspirations of the emirate Noting the positive impact of the package of legislation and initiatives adopted by His Highness to increase growth and stimulate economic activity in the emirate, including the registration decree and real estate dispositions in the Emirate of Dubai, the law of joint real estate ownership, and provide long-term residence of up to 10 years for investors and those with distinct skills, and reduce the cost of m Business and other households of legislation and initiatives that have formed a quality step enhance the attractiveness of real estate investment in the emirate, and supports the rights of investors in the sector.

Sultan bin Mejren stressed the importance of the role played by the Supreme Committee for Real Estate Planning in the Emirate of Dubai, headed by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, which works under the guidance of His Highness to enhance planning for the real estate sector in the emirate, and to develop a clear and thoughtful strategy to achieve Added value for real estate projects, to increase the level of competitiveness of the sector and confirm its attractiveness. He said that the committee will have a significant impact on the events of a qualitative shift in consolidating the elements of economic growth, enhancing the performance of the real estate sector, and raising the percentage of its contribution to the growth of the emirate's GDP.

During an open dialogue within a "session with an official", an initiative organized by the media office of the Dubai government on a regular basis, and hosting senior officials in various sectors, Sultan Butti bin Majren, Director General of the Department of Lands and Properties in Dubai exchanged talks with local and international media leaders who attended The meeting, where his happiness began with a review of important glimpses of the history of the real estate sector in Dubai, and its contribution to support the economic growth of the Emirate effectively, in a way that has become Dubai with the most attractive investment destination in the world, reviewing the performance of the real estate sector in Dubai for the year 2019, which reached a total Aqka behavior Raya, during which 228 billion dirhams.

He said about the Emirate's economic growth forecasts, that Dubai is a global model in the real estate field and the plans of the department follow the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and in line with the broad development aspirations of the emirate, pointing out that the real estate sector today is more powerful today, and has proven particularly efficient with The date of the launch of the Expo 2020 Dubai is approaching, in light of the economic incentives, the formulation of the future vision of the Emirates and the “Emirates Vision 2021” and the year of preparation for its fifty, and pursuant to the economic vision formulated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, within the “eight principles” and “ The fiftieth document and the January 4, 202 document 0 "and the announcement of the Dubai historical budget for the current year, which would have a positive impact on many economic sectors in the emirate, the most important of which is the real estate sector.

Sultan bin Mejren pointed out that "Expo 2020 Dubai" will contribute to a significant increase in capital flows to the Emirate of Dubai, thanks to Dubai's investments in infrastructure projects and preparations in preparation for hosting the exhibition, noting that the exhibition is expected to contribute to the added value of the Dubai economy during the period. From 2013 to 2031, with more than 122 billion dirhams, in addition to new job opportunities and direct and indirect investments expected to be added to its economy, which will greatly affect the real estate sector in terms of investments and new products.

Ambitious indicators to increase real estate growth
On the indicators of the real estate sector and confirming its attractiveness, the Director General of the Department of Lands and Properties in Dubai said that the real estate sector in the year 2019 witnessed a huge and vital development in the public performance, pointing out that the volume of foreign direct investments that Dubai real estate pumped in 2018 reached 90.5 billion dirhams, while it reached The volume of investments in the year 2019 to 106 billion dirhams, and the total real estate transactions in the emirate increased to 228 billion dirhams in the year 2019 compared to the year 2018, which recorded 221 billion dirhams. His Excellency noted that the real estate investments of women only in Dubai in the year 2019 amounted to 27.5 billion dirhams, recording an increase of / 5.7 / billion dirhams compared to the year 2018. The largest share of real estate investments remained for the citizens of the state, while the Kingdom of Saudi Arabia topped Arab investments in Real estate in Dubai, and participated in the first ranks globally India, Pakistan and Britain, respectively.

Sultan Bin Majren discussed the volume of rental contracts that were registered during the past year, as it reached 530,000 contracts, with a total value of 54 billion dirhams, while the Dubai Land Department issued (466) new real estate licenses, and (1032) new cards to practice Real estate brokerage activity, and (11) real estate valuation profession card. At the level of projects sold on the map, His Excellency pointed out that 82 projects were completed, and the same year witnessed the opening of 72 new escrow accounts, whereas in 2019 the Department issued 4,815 real estate permits, and the number of real estate offices until the end of 2019 Nearly 13,173 offices.

Regarding the role of the "Real Estate Violations System" in resolving real estate complaints and disputes, Bin Mejren said that the Real Estate Regulatory Agency affiliated to Dubai Lands managed to resolve (1,571) real estate complaints through the system in friendly ways, while the Center for Lease Dispute Resolution in Dubai during the year 2019 registered 27,056 cases, and approximately 75% of cases were resolved.

The first global real estate governance system
The Director General of the Department of Lands and Properties in Dubai reviewed the importance of the "owners system" of the new electronic system that was developed internally by Emirati cadres in Dubai, and includes a system of building and common space management in an innovative smart way that shows the investor the mechanism of application. It requires the developer and real estate management companies to provide accurate information related to the services provided in the jointly owned real estate, so that the Real Estate Regulatory Agency can approve the service fees.

He referred to a "system of owners" that derives its importance from ensuring comprehensive oversight governance on all parties of the real estate relationship regarding the imposition of service fees before the owners are required to pay them, through the use of the department and foundation database, through the data of the real estate units registered with the department and the owners' data, and this includes The system provides accessible solutions to enable owners to pay service fees through the approved channels agreed upon by banks and banks and the electronic payment portal (monetary).

Sultan bin Mejren elaborated on the positive impact of the Malak system, and said that the Foundation expects during the next phase to manage amounts of up to four billion dirhams, and improve the level of happiness of customers for the service and reach a rate of 94.4%. He said that the number of real estate registered in the system is 1,602 buildings and 26,976 villas, while the total savings achieved were two million dirhams, while the initiatives contributed to the total disposal of the required visits to the department, and reached their number to zero.

Partnership with the private sector
Sultan Butti Bin Mejren, Director General of the Dubai Land Department said during the meeting at the headquarters of the media office of the Dubai government that the department’s cooperation with many public and private sectors comes within the framework of the department’s commitment to work with all partners in the emirate to enhance the position and contribution of the real estate sector as one of the engines and drivers of growth In the economy of Dubai, which reflects the prestigious status of our economic sector and its renewed momentum heralding further progress and success, in compliance with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum to make Dubai the capital of the future economy, and to maintain its position in a better leadership Investment destinations, and the perfect choice for those looking to live, work and visit.

Supportive legislative environment
In response to a question about the laws and legislations adopted by the Dubai government with the aim of increasing economic activity in the emirate and pushing the rates of growth towards advanced horizons, Sultan bin Majren pointed to the keenness of the Emirate of Dubai to find clear legal frameworks that guarantee the rights of all parties, citing Law No. (4) of 2019 Concerning the "Real Estate Regulatory Agency" which came to define a set of important goals for the institution, foremost of which is contributing to the advancement of the real estate sector within an integrated system of regulatory and oversight procedures that enhance its role in the overall economic development of the emirate, as well as the joint property law To ensure the rights of all parties involved in the sector, whether owners, tenants, investors or real estate developers, while specifying the obligations of each of these parties, in order to ensure the continued contribution of the real estate sector in supporting the comprehensive development process in Dubai.

On the same level, he pointed to the importance of Law No. (6) of 2019 regarding ownership of joint real estate in the Emirate of Dubai, which formed a specific step that enhances the attractiveness of real estate investment in the emirate, and provided double support for the rights of investors in the sector.

The Director General of the Dubai Land Department also dealt with the formation of the Supreme Committee for Real Estate Planning in the Emirate of Dubai, according to Decree No. 33 of 2019 chaired by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and the reflection of this decision on Establishing the attractiveness of the real estate sector and enhancing its competitiveness in a way that benefits all other vital sectors, as it is a fundamental impetus in the Dubai economic process, which is witnessing steady progress in all sectors.

Sultan Butti bin Mejren reviewed the provisions of Decree No. 27 of 2019 related to registration fees and real estate disposal in the Emirate of Dubai, where the decree included the cancellation of registration fees for sales of real estate that are made in accordance with the Islamic financing system, which is first met by 4%, To be fulfilled upon concluding the second pledge of pledge to reduce the costs of real estate investment, encouraging various categories of investors and end-users to enter the real estate market, and supporting the trends of the Islamic economy in the emirate, noting that the positive impact of this decree is not limited to the real estate sector only, but exceeds it to support and open Physicians, banks and Islamic finance companies to provide Islamic sources of financing for the real estate sector in the emirate, and encourage them to own real estate and resell it to customers, in accordance with the provisions of Islamic Sharia.

In conclusion, the Director General of the Department of Lands and Properties in Dubai confirmed that the department works with its partners and real estate developers to address the challenges facing the real estate market in Dubai, and to help the parties concerned to complete their real estate projects according to the targeted time frames, as well as reducing fees related to some real estate activities, stressing The importance of real estate investors to know the nature of real estate investment as a long-term investment.