Dubai South to ease freehold registration
DUBAI, January 12, 2017
Dubai South has signed a strategic memorandum of understanding (MoU) with the Dubai Land Department (DLD) to pave the path for easy registration of freehold plots and properties by investors.
The deal was signed by Sultan Butti bin Mejren, director-general of DLD, and Khalifa Al Zaffin, executive chairman, Dubai Aviation City Corporation and Dubai South, reported Wam, the Emirates official news agency.
With the agreement in place, DLD will accept registration of freehold apartments, plots and properties purchased by investors in Dubai South. It is responsible for the collection of the full amount of the freehold plots registration, transfer and cancellation fees from these investors.
Under the MoU, Dubai South and DLD will also seek to develop their relations and strengthen shared interests to ensure enhanced co-operation and co-ordination.
"We are delighted to co-operate with Dubai South and provide all possible means of support to promote its projects and ensure their completion in a timely manner. We believe that Dubai South’s operations and development sites will be of utmost importance to our preparations for Expo 2020, and that the government institution’s collaboration is crucial to achieving the ambitious national agenda inspired by the vision of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum," Bin Mejren said.
"The signing of the agreement with the Dubai Land Department supports our continuous effort to enhance the level of service we offer to all investors at Dubai South. It allows us to benefit from DLD’s world-class systems and expertise in real estate regulations, and will further enhance the co-operation and exchange of experiences between Dubai South and DLD, which will serve to advance the development and growth of Dubai South," Al Zaffin said.