Dubai inks agreement to attract US property investors
American investors have carried out Dubai property transactions worth $1.1bn over the last three years, Dubai Land Department revealed
An agreement has been signed to promote Dubai's real estate products in the US.
Dubai Land Department (DLD) announced that it had entered a strategic cooperation and partnership agreement with Aqari Global Century 21 United Arab Emirates.
Under the terms of the agreement, Aqari Global will act as DLD’s real estate promotion trustee in the US.
Over the past three years, US investors have carried out almost 2,300 transactions, worth more than $1.1bn (AED4bn), in Dubai.
HE Majida Ali Rashid, assistant director general and head of DLD's Real Estate Investment Management and Promotion Centre, said American investors were among the top 10 investor nationalities during the period.
The latest agreement is hoped to promote Dubai’s real estate market in the US and encourage investment by US-based investors through Aqari Global, which will provide specialised services to help attract investments and introduce investors to the services provided by DLD.
Additionally, the company will support DLD by participating in exhibitions, as well as overseas real estate promotion workshops organised by DLD and its partners across the US.
Commenting on the agreement, HE Sultan Butti bin Mejren, director general of DLD, said: "We pay close attention to the US market, especially as US investors are among the top foreign nationalities to invest in Dubai’s real estate market each year.
"The US is full of investors looking for exceptional investment destinations around the world, and Dubai is certainly capable of answering this demand with the city’s diverse investment opportunities."
Aqari Global Ltd Century 21 has more than 7,500 offices in major markets such as Australia, Canada, China, India, Saudi Arabia, Singapore, and the UK.