Dubai Land Department (DLD) said it has signed a memorandum of understanding (MoU) with Nasdaq Dubai to facilitate the listing of companies that are active in the real estate sector as well as real estate-related asset classes in the UAE emirate.

The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq Dubai regarding administrative matters, which may provide useful support for entities that are considering listing or are already listed.

Nasdaq Dubai listings include a number of issuances by companies that have substantial interests in the real estate sector.  

DLD director general Sultan Butti Bin Mejren said: "We are delighted to announce this collaboration that is in line with our vision to position Dubai as the world’s premier real estate destination and a byword for innovation, trust and happiness."

"Our work with Nasdaq Dubai will inevitably support the aspirations of the private sector, specifically those working in various real estate activities, who want to register a great presence in the market through being listed," noted Mejren.
 
"This co-operation underlines DLD’s contribution to the achievement of sustainable development in our local economy, and improves the credibility and consolidates transparency in the real estate sector," he added.

Hamed Ali, the chief executive of Nasdaq Dubai, said: "Our close links with the DLD underscores our commitment to further enhancing the pre- and post-listing environment on behalf of issuers regarding real estate matters."

"As the exchange attracts more  entities that are active in diverse business sectors, we are committed to maintaining a positive dialogue with a wide range of government organisations that are in contact with our listed businesses," he added.-TradeArabia News Service