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DLD and Nasdaq Dubai sign real estate listings MoU

The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq Dubai regarding administrative matters

The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq.
The MoU includes the operation of a channel to streamline communications between DLD and Nasdaq.

The Dubai Land Department (DLD) and Nasdaq Dubai have signed a memorandum of understanding (MoU).

The agreement will facilitate the listing of companies that are active in the real estate sector as well as real estate-related asset classes, Dubai Media Office reported.

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.

Sultan Butti Bin Mejren, director general of Dubai Land Department, 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.

“This cooperation underlines Dubai Land Department’s contribution to the achievement of sustainable development in our local economy, and improves the credibility and consolidates transparency in the real estate sector."

Hamed Ali, chief executive of Nasdaq Dubai, said: “Our close links with the Dubai Land Department underscore 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.”

In November, DLD inked an agreement with RusBiz in a bid to satisfy queries from Russian speakers.

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Construction Week - Issue 749
Sep 15, 2019