Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum paid on Monday an inspection visit to the Dubai Lands Department where he was welcomed by its Chairman Sheikh Mohammed Bin Khalifa Al Maktoum and senior managers.
Accompanied by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Sheikh Mohammed started his tour with a stop at the Customer Service Centre where he was briefed by the officials about the top class e-services provided to landlords. He also spoke with a group of clients and expressed satisfaction over the services being offered.
He instructed the director of the department to allocate special waiting area for the convenience of clients especially the elderly people.
At the meeting hall, Sheikh Mohammed, who was also accompanied by Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Aviation Authority and Chairman of Emirates Group and Mohammed Abdullah Al Gargawi, Minister for Cabinet Affairs, heard a presentation from Director General of the Department, Sultan Bin Mejren on new plans and initiatives the department is launching to encourage investment in the real estate sector in order to sustain its growth and flourishing and protect investors’ rights.
During the e-presentation, a centre for promotion and management of real estate investment was launched to act as the new investment arm of the department along with Real Estate Regulatory Authority (RERA). The centre will encourage, promote, regulate and manage the real estate investment environment in Dubai and stimulate the real estate sector through direct and long term investment.
According to the presentation, total value of transactions in the sector reached Dhs88 billion through the current year up to September 12, 2011, a vibrant indication of the recovery of the property market in the UAE in general and Dubai in particular, positioning itself as one of the leading and most flourishing and transparent markets in international real estate benchmarks.
Dubai took the lead in the global real estate index of competitive environments according to the International Property Rights Index (IPRI) and ranked fourth globally in property registration in the Ease of Doing Business 2011.
Appreciating the performance of the department, Sheikh Mohammed urged employees to concentrate on feasible initiatives that support policies towards generating new elements to attract more investment.