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DLD airs support for UAE-China strategic alliance

In June DLD launched the Dubai Real Estate Promotion Trustee Office in China, just one month before the Chinese President's state visit to the UAE in July

Xi Jinping's July state visit to the UAE resulted in at least 13 cooperation agreements between both nations.
Xi Jinping's July state visit to the UAE resulted in at least 13 cooperation agreements between both nations.

Dubai Land Department (DLD) has expressed its support for the strategic partnership between China and the UAE following the launch in June this year of the Dubai Real Estate Promotion Trustee Office in China.

DLD, which provides real estate services including documenting property sales, issuing real estate ownership, and promotes investment in Dubai property, cited the Chinese Luxury Property Show in Beijing, China as one recent initiative supported by Dubai designed to deepen the strategic alliance between the UAE and the Asian superpower.

Running between 22 and 24 June this year, the event saw DLD focus its attention on companies operating in the real estate and hospitality sectors – meeting officials representing “Century 21 China, 5i5j, and CIREA, as well as investment companies, including the business centre, the tourism university and furniture companies and factories”.

READ: Kuwait eyes cut of China's trillion-dollar Silk Road project

According to DLD, the end of the show in Beijing saw it reaching agreements with Chinese investors, and launching the Real Estate Promotion Trustee Office in China.

The three-day event came just weeks before Chinese President Xi Jinping’s state visit to the UAE in July, intended to forge closer trade ties with China and resulting in at least 13 cooperation agreements and memorandums of understandings signed between both nations.

Speaking at the Centre's launch in June, assistant director and head of the real estate investment management and promotion centre at DLD, HE Majida Ali Rashid, said: “We are pleased to participate and represent the real estate sector in Dubai through the Real Estate and Investment and Promotion Centre – our primary purpose for participating in the exhibition.

READ: UAE central to Middle East role in China’s Jinping-backed Belt and Road

“In doing so, we hope to have painted a realistic picture of the beautiful Emirate that represents it as a welcoming environment for visitors and investors from all over the world.”

The Belt and Road Initiative (BRI) – China’s ambitious megaproject valued at around $4trn – has gained traction in the Middle East with Kuwait, Oman, Saudi Arabia all expressing interesting in the building developments that will bring Asia and the GCC closer.

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Construction Week - Issue 747
Aug 03, 2019