In a groundbreaking move, Dubai has opened its real estate market to companies registered in the Umm Al Quwain Free Trade Zone (UAQ FTZ). This major development comes through a newly established Memorandum of Cooperation (MoC) with the Dubai Land Department (DLD), allowing UAQ FTZ businesses to legally buy and register freehold properties in Dubai. This initiative not only enhances investment opportunities but also signifies a new era of economic collaboration between emirates, offering robust advantages to businesses looking to establish a foothold in one of the region’s most lucrative real estate markets.
New Pathways for UAQ FTZ Companies
The recent agreement enables companies in the Umm Al Quwain Free Trade Zone to access Dubai’s real estate sector, known for its resilience and high performance. Sheikh Mansoor Bin Ibrahim Al Mu’alla, Executive Director of the Umm Al Quwain Free Trade Zone Authority, expressed pride in this development, stating, “We are proud to lead with purpose and enable our investors to participate in Dubai’s thriving real estate sector with full legal clarity and institutional support.”
He elaborated that the agreement creates a strong legal framework that not only eliminates traditional barriers but also enables licensed businesses to acquire vital real estate assets that align with their strategic growth plans.
Long-Term Stability and Regulatory Compliance
Johnson M. George, General Manager of UAQ FTZ, added that this collaboration empowers license holders within the zone to secure real estate assets in Dubai, directly supporting their growth ambitions and promoting long-term operational stability. Additionally, both the Umm Al Quwain Free Trade Zone Authority and DLD are committed to consistent regulatory cooperation, ensuring adherence to anti-money laundering and counter-terrorism financing standards.
Majid Saqer Almarri, CEO of the Real Estate Registration Sector at Dubai Land Department, emphasized the significance of this alliance, stating, “We’re proud to work with UAQ FTZ to provide a seamless and legally sound framework that supports business expansion while upholding regulatory excellence.”
This landmark agreement exemplifies a broader commitment to enhancing inter-emirate economic fluidity and reflects the UAE’s vision for economic diversification and growth in foreign direct investment. By allowing Umm Al Quwain Free Trade Zone companies to participate actively in Dubai’s real estate market, the initiative reinforces the nation’s stature as a hub for business and global capital.