The Dubai Land Department (DLD) has introduced a registry for real estate investment trusts (REITs) and has opened registration for eligible companies.
This initiative aligns with Decree No. 22 of 2022, which aims to position Dubai as a global hub for real estate investment and provide incentive benefits to encourage REITs to consider various projects in the emirate. The goal is to increase investment in the market and generate long-term capital returns for shareholders.
Sultan Butti bin Mejren, Director-General of DLD, emphasized the importance of this step in attracting local and foreign real estate investments and aligning with Dubai's economic agenda for foreign investment and private sector involvement in development projects. DLD will make every effort to develop the registry and motivate eligible real estate trust companies to take advantage of the registration benefits, ultimately enhancing the value of real estate transactions and ensuring Dubai's competitiveness.
News Source: Emirates News Agency
