Dubai Land Department (DLD) has appointed UC Forward Marketing as its ‘Real Estate Promotion Trustee’ for the Chinese market. The announcement was made on 12th September at Cityscape Global, where the two parties confirmed their joint objective of securing AED 1 billion worth of Chinese investment for Dubai’s real estate market. As part of the agreement, UC Forward has established its own counter at DLD’s office in Al Fahidi Hall to provide free Chinese and English language consultancy services to Chinese investors.
H.E. Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: "We are delighted to have established a mutually beneficial partnership with UC Forward, as it will allow us to attract further investments into our real estate market. UC Forward will play an important advisory role, including raising awareness of the advantages of investing in Dubai’s real estate market, and helping to protect investors and their rights by clearly communicating our laws and regulations in both Chinese and English."
Bin Mejren added: "According to DLD’s database, the value of Chinese investments in Dubai’s real estate market has exceeded AED 12 billion. Since last year, 4,475 Chinese investors have made 8,259 real estate transactions in Dubai, which places them in 12th place among the 217 nationalities investing in our market.”
Her Excellency Majida Ali Rashid, Assistant Director General and Head of the Real Estate Investment Management and Promotion Center at DLD, commented: “DLD offers its full attention to investors from across the globe, and the Chinese market is currently considered one of the most promising for attracting real estate investments. This is demonstrated by the high number of Chinese nationals choosing to visit and live in the UAE. In addition, the Dubai Property Show held in Shanghai last March achieved unprecedented success and attracted a large number of stakeholders. Our new partnership with UC Forward will certainly help us to raise awareness of the investment opportunities that our real estate market has to offer Chinese investors.”
UC Forward will work closely with DLD to protect the rights of Chinese investors in Dubai’s real estate market through a variety of initiatives. The company will raise awareness of DLD’s rules and regulations among Chinese investors; offer consultation services for real estate investments, transactions and rental disputes; provide Dubai Real Estate Institute (DREI) certified real estate brokerage courses and examinations in Chinese; and assist DREI in organising free open house events for the public.
This is the first time Dubai has appointed a Chinese company to play this role, which reflects the UAE’s strong relationship with China. The partnership will see both parties working together to enhance DLD’s image through Chinese channels, attract direct foreign investment from China, and foster positive cooperation between DLD and Chinese real estate companies, brands and financial institutions.
With the partnership between DLD and UC Forward, Dubai’s real estate market stands to profit from AED 1billion worth of Chinese real estate investments.