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May 20, 2025 valueeng0

AECOM has extended its collaboration with the Kingdom of Saudi Arabia’s Ministry of Sports for specialised site supervision consultancy services at the King Fahd Sport City in Riyadh. The partnership is particularly timely as Saudi Arabia is to host two of the world’s major sporting events, the AFC Asian Cup 2027 and the 2034 FIFA World Cup. AECOM’s involvement will encompass the transformation of the stadium into a venue, ensuring the standards for both domestic and international audiences.

Lara Poloni, AECOM’s President said, “As Saudi Arabia accelerates towards the Kingdom’s Vision 2030, we’re proud to deepen our collaboration with the Ministry of Sport on this iconic project. Around the world, strategic investments in infrastructure are driving growth and resilience, and this transformation reflects how sport can be a powerful catalyst for creating opportunity and improving communities.”

Known as the ‘Pearl of Stadiums’ this stadium has been an important component of Saudi Arabia’s sports landscape since its inauguration in 1987. Leveraging its global expertise in sports infrastructure, AECOM will lead the enhancement process as per FIFA’s standards, ensuring the stadium’s readiness for international competitions. These upgrades will further solidify the venue’s status as a premier sports center, aligning with the Kingdom’s growing sports aspirations and the objectives of Kingdom’s Vision 2030, the statement explained.

“Our collaboration with the Ministry of Sport highlights AECOM’s commitment to delivering world-class infrastructure,” said Hamed Zaghw, Chief Executive of AECOM’s Middle East and Africa region. “By leveraging our expertise from major international events like the 2022 Qatar World Cup, the 2012 global sporting event in London and 2010 FIFA World Cup South Africa, combined with AECOM Hunt’s construction management experience on some of the world’s most renowned sports facilities, we are proud to contribute to transforming the King Fahd Sports City into a global benchmark.”

AECOM Hunt will serve as a key consulting partner in the stadium’s transformation and brings extensive expertise managing the construction of sports and entertainment venues across the United States, including the Intuit Dome, Lucas Oil Stadium, Mercedes Benz Stadium and SoFi Stadium. With over 125 stadium projects in their portfolio, AECOM Hunt will provide unique insights to support a successful delivery of this landmark stadium, the statement concluded.

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Source: MEConstructionNews


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May 20, 2025 valueeng0

Sustainable tourism is increasingly important to travellers seeking memorable trips and authentic experiences while minimising environmental impact. Efficient public transport links are essential, helping to reduce car dependence and to enhance community engagement. Tourist destinations that are to be transformed into eco-conscious hubs require integrated infrastructure, forward-thinking government policy and a collective shift in mindset from residents and tourists alike.

Dubai is well-known for its rapid expansion and visionary leadership and is actively pursuing sustainable tourism through its strategic public transport development. The Dubai Metro, a lower-emission transport option, connects key tourist and residential areas and is estimated to have saved about one billion car journeys since its launch in 2009 according to the Roads and Transport Authority. The Dubai Metro has been credited with reducing carbon emissions by an estimated 2.6m tonnes. Initiatives like the new Dubai Metro line extensions and the deployment of new electric buses underscore this commitment.

Dubai has also recently launched the ‘Dubai Can’ initiative, promoting refillable water bottles, reducing the need for single-use plastic and addressing the significant environmental concern of plastic waste. Beyond the Metro, the tram and water taxi systems contribute to a comprehensive, integrated public transport network.

Tools of the Trade

Technology is a vital tool in sustainable travel, mitigating the effects of climate change on tourism and finding new and more efficient ways for tourism to operate with a reduced carbon footprint. Mobile applications, for example, provide, real-time information improving traveller convenience and reducing the need for printed schedules. Contactless payments and integrated ticketing streamline this process further. With new electric bus fleets added to the streets of Dubai, smart city technologies like traffic management systems help to reduce congestion and optimise operations. Real-time data analysis tools minimise traffic delays and fuel consumption and allow for dynamic traffic adjustments. Dubai’s commitment to sustainability is further demonstrated by solar-powered bus shelters that provide respite from the heat for commuters. The emirate has also announced plans to explore autonomous vehicles, revolutionising transport and reducing emissions.

Guests travelling to Dubai are encouraged to utilise public transport links to explore local neighbourhoods. When it comes to short-term rentals, we recommend that property owners provide information about local transport links, helping support guests who are interested in sustainable travel.

Driving Sustainable Tourism

The future of Dubai’s sustainable tourism industry is hinged on technological integration and ongoing public transport development. Continuous infrastructure investment is essential, especially in tourist hotspots. Public transport use can also be incentivised by policies like congestion charges and dedicated pedestrian zones. Awareness and education campaigns are also useful tools to promote sustainable travel.

Effective, accessible public transport is vital for building a sustainable tourism industry that reduces its carbon footprint, while encouraging visitors to explore the emirate’s diverse offerings. This isn’t just about infrastructure, this is about creating a forward-thinking mobility ecosystem that aligns with Dubai’s ambition to be a global leader in sustainable urban development. By prioritising the public transport system with the metro, tram, bus and water taxi services, Dubai can minimise reliance on private vehicles, and effectively reduce carbon emissions.

Dubai’s integration of cutting-edge technology into its urban development signals its commitment to sustainable growth, offering a global model for responsible city planning. Promoting sustainable tourism which extends beyond transportation with the ‘Dubai Can’ demonstrates that even small changes can have a significant impact on reducing environmental waste. By promoting the usage of refillable water bottles across the city and placing water refill stations across busy hotspots, tourists are encouraged not to use single-use plastic bottles and be mindful of their plastic pollution.

Beyond the ‘Dubai Can’, the city’s sustainable tourism initiatives also include the development of extensive cycling routes and pedestrian-friendly zones to promote active transport, the adoption of innovative technologies such as vertical farming and increased investment in green spaces and urban parks to improve air quality.

What’s more, the Dubai Sustainable Tourism (DST) Stamp was also launched recently by the Dubai Department of Economy and Tourism. Recognising hotels that adhere to stringent sustainability requirements, including energy efficiency, water conservation, waste management and staff engagement. With a tiered recognition system of Gold, Silver, and Bronze, the DST Stamp incentivises hotels to continuously improve their environmental practices, aligning with the UAE’s Net Zero 2050 Strategy. By establishing clear benchmarks and promoting transparency, this initiative not only enhances Dubai’s reputation as a sustainable destination but also encourages the tourism sector to contribute to the emirate’s broader environmental goals.

Dubai’s plans for sustainable mobility also include an extensive cycling network with dedicated bike lanes and shared cycling schemes for tourists and residents to use. Shaded walkways and pedestrian-friendly zones also encourage people to explore Dubai on foot.

The seamless integration of sustainable practices across all sectors of Dubai’s tourism industry is key to its long-term success. By investing in efficient public transport, promoting active travel, creating green spaces, and embracing sustainable technologies, Dubai is creating a blueprint for responsible tourism development. This dedication to sustainability benefits both the environment and the visitor experience, solidifying Dubai’s position as a forward-thinking and eco-conscious destination.

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Source: MEConstructionNews


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May 20, 2025 valueeng0

The Misk Heritage Museum ‘Asaan’ in Riyadh, Saudi Arabia, has commenced construction on a cultural landmark that will be housed in the historic district of Diriyah. The groundbreaking ceremony, organised by the museum, coincided with the Kingdom’s celebrations of International Museum Day and was attended by representatives from the Mohammed bin Salman Foundation (Misk), Diriyah Company, and designers Zaha Hadid Architects.

The museum, spanning an area of 40,000sqm, moves beyond the traditional museum concept to offer integrated cultural experiences. Visitors will be immersed in the daily life of past generations through interactive spaces, workshops, and activities rooted in local environments. These experiences allow them to explore traditional arts, crafts, stories, customs, and social values, providing a window into Saudi culture. Asaan showcases both tangible and intangible aspects of Saudi culture, said a statement.
The Misk Foundation’s initiative aims to preserve and promote Saudi heritage and its diversity. Zaha Hadid Architects designed Asaan’s contemporary architectural design, which draws inspiration from the traditional Najdi style and embodies Saudi Arabia’s rich architectural heritage. Upon opening, the museum will showcase a conservation laboratory dedicated to restoring and preserving heritage artifacts and artworks. It will also serve as a hub for knowledge exchange and a training ground for the next generation of museum professionals.
Khaled Al Saqer, CEO of the Misk Heritage Museum Asaan stated, “Marking International Museum Day by commencement of construction of Asaan is a historic milestone in our mission to safeguard and celebrate Saudi heritage. Asaan’s role extends beyond preserving and displaying artifacts; it seeks to inspire meaningful engagement through immersive experiences that connect past, present, and future generations, strengthening pride in Saudi identity and sharing our cultural legacy with the world. Driven by our belief in community participation as a pillar of heritage preservation, Asaan will offer a wide range of interactive programs curated by leading experts. These initiatives aim to foster cultural passion, inspire creativity, and empower all members of society to engage with and celebrate our heritage.”
Jerry Inzerillo, Group CEO of Diriyah Company added, “Asaan is a valuable addition to Diriyah’s portfolio of cultural projects and demonstrates our commitment to presenting the richness of Saudi heritage in a modern way that strengthens its global presence. The museum supports our broader goal of establishing Diriyah as a world-class destination that celebrates history, culture, and national identity. We’re excited about the programmes and activities Asaan will bring, as they will offer something truly special for the community and for visitors from around the world.”
The launch of Asaan construction signifies a pivotal moment in the development of a cultural landmark that pays homage to Saudi heritage and elevates the nation’s global standing. As per a statement from the museum, Asaan embodies Saudi Arabia’s dedication to preserving its cultural heritage and strengthening its national identity, aligning with the objectives of Vision 2030. Asaan’s mission is to preserve Saudi heritage and celebrate its authenticity and diversity by showcasing extensive collections of cultural artifacts through immersive exhibitions and inspiring spaces.

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Source: MEConstructionNews


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May 20, 2025 valueeng0

Dubai Holding, through its wholly owned subsidiary DHAM REIT Management (Fund Manager), has announced an increase in the offering size of Dubai Residential REIT’s initial public offering (IPO). The approval was granted by the UAE Securities and Commodities Authority (SCA).

Dubai Residential REIT is a Shariah compliant income-generating closed-ended real estate investment fund that is currently in the establishment phase. It is one of the largest owners and operators of residential real estate in Dubai. The REIT will now float 15.0% of its issued unit capital, instead of the previously announced 12.5%, said a statement.

DHAM REIT Management exercised its right to increase the number of units driven by the strong demand from domestic and international investors and over-subscription across all tranches. Upon listing on the Dubai Financial Market (DFM), DHAM Investments, a subsidiary of Dubai Holding, will continue to own a majority 85% stake in the REIT. Based on the unchanged offer price range per offer unit, the revised offering size is expected to be between US $568mn and $584mn, implying a market capitalisation at listing of between $3.8bn and $3.9bn.

Dubai Residential REIT’s Offering, as previously announced, comprises two tranches. The revised offering size is as follows, First Tranche, the UAE Retail Offer, remains unchanged at 162,500,000 units and is open to retail investors and eligible entities holding a National Investor Number (NIN) with the Dubai Financial Markets (DFM). The Second Tranche, the Institutional Offering, has been increased from 1,462,500,000 units to 1,787,500,000 units. This tranche is open to qualified institutional investors (Professional Investors) outside the United States, subject to Regulation S, applicable UAE laws, and SCA approval.

Each successful subscriber in the First Tranche will be guaranteed a minimum allocation of 2,000 Units, provided that the total number of units issued under the minimum guaranteed allocation does not exceed the Tranche size and remains within the limits and conditions set out in the Prospectus. Investors in both tranches can subscribe to the offering which will close on 20 May 2025. The final offer price will be determined through a book building process conducted in consultation with the Joint Global Coordinators, the Fund Manager and the Selling Unit holder, and is expected to be announced on 21 May 2025.

The completion of the offering and admission of units to trading on the DFM (Admission) is expected to take place on or around 28 May 2025. The units are expected to trade under the symbol ‘DUBAIRESI’. The details of the offering are available in the prospectus and public subscription announcement (Public Announcement), and in an English-language international offering memorandum (International Offering Memorandum).

Dubai Residential REIT, subject to the approval of the REIT Board and other provisions outlined in the UAE prospectus, said that it plans to implement a semi-annual dividend distribution policy, with payments made in April and September of each year, commencing in September 2025. For the financial results of the year ending 31 December 2026, and beyond, Dubai Residential REIT intends to distribute at least 80% of its profit for each accounting period, subject to Board approval. The Offer Price Range suggests a gross dividend yield of 7.9% at the lowest end of the range and 7.7% at the highest end for the year ending 31 December 2025.

Citigroup Global Markets, Emirates NBD Capital PSC, and Morgan Stanley & Co. International have been appointed as Joint Global Coordinators and Joint Bookrunners. Emirates NBD Bank has been appointed as the Lead Receiving Bank. Abu Dhabi Commercial Bank, Arqaam Capital Limited acting in conjunction with Arqaam Securities, and First Abu Dhabi Bank are acting as joint bookrunners (together with the Joint Global Coordinators, Banks) for the offering, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Commercial Bank of Dubai, Emirates Islamic Bank, Mashreq Bank have also been appointed as Receiving Banks.

Pursuant to the Underwriting Agreement, the Selling Unitholder will be subject to a lock-up on the units from the date of the agreement until 180 days after admission, subject to certain customary carveouts and consent from the Joint Global Coordinators. Dubai Residential REIT will also be subject to a lock-up for the same duration.

In connection with the offering, the selling unitholder will allocate proceeds from the sale of up to 243,750,000 offer units to xCube, a DFM-authorised price stabilisation manager appointed by the Fund Manager. These proceeds may be used, in accordance with applicable laws and DFM Trading Rules, to conduct stabilisation transactions on the DFM. The banks and their respective directors, officers, employees, agents, and affiliates will not be involved in, responsible for, or benefit from any such transactions, which will be carried out solely by xCube.

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Source: MEConstructionNews


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May 19, 2025 valueeng0

UAE-based facilities management (FM) company Farnek has launched the Farnek Hybrid Unit (FHU), presenting a transformation in cleaning by integrating human operatives with advanced and intelligent robotic cleaners, the firm said in a statement.

Robots can collaborate with operational staff without traditional physical supervision, carrying out cleaning tasks autonomously. They can recharge themselves, using real time localisation and environmental perception to avoid hazards, and clean up to 5,000sqft per hour. During autonomous cleaning, robots are equipped with sensors and mechanisms that enable obstacle detection, fall prevention, and anomaly impact detection, it added.

“Essentially the model is centered around Hybrid Units (HU), where tasks are completed without distinction between humans and robots, focusing on efficiency and quality of outcome. The robotic units can handle the heavy lifting, repetitive cleaning, and large surface areas, allowing manual operatives to focus on higher value or specialised tasks, such as sanitising sensitive areas, and spot cleaning. This strategic distribution of tasks enhances overall productivity while reducing overlapping and wasteful man hours,” said Julian Khalil, Managing Director, Farnek Services.

Robotic vacuum cleaners are digitally mapped, ensuring precise and 100% area coverage. This eliminates the gaps often left by manual processes, which can occur due to human error or fatigue. Robotic paths are pre-mapped and optimised, guaranteeing complete surface coverage and achieving cleaning standards.

“Unlike human operatives, robots can be deployed in operations 24/7 without fatigue. This multi-shift capability reduces the need for additional manpower, particularly in high-traffic areas and during off-peak hours. The Farnek Hybrid Unit is a transformative step to deliver commercial cleaning services. This is more than just a technology shift it’s a cultural evolution in how we see cleaning, moving forward. Data-driven, performance-oriented, and future ready. The maintenance of intelligent robots is predictable and scheduled, avoiding unexpected maintenance costs typical with manual equipment. With robots handling repetitive tasks, fewer human operatives are required, optimising labour costs,” added Khalil.

Farnek’s CAFMTEK Mobile App, which was designed and developed by its sister company HITEK AI, dynamically schedules and monitors all Hybrid Units. This app provides supervisors with real time visibility, live task updates, and dedicated reports. It also enables instant adjustments to manpower and robotic assignments based on real time demand. Consistent status updates are available via the CAFMTEK app on smartphones or PCs, the statement outlined.

“The unique aspect of Farnek’s hybrid model is our use of AI technology. Our CAFMTEK digital solution, which provides connectivity and technology integration, links the robots to operational management teams, accelerating precise, real-time monitoring, predictive cleaning and manpower requirements, as well as enhancing data-driven decision-making,” explained Javeria Aijaz, Managing Director of HITEK AI.

Optimisation leads to substantial cost savings. Unlike humans, robots don’t take vacations, sick leave, or suffer from fatigue. They operate continuously, eliminating any potential efficiency or cost impact caused by human or cleaning equipment downtime. Human productivity typically declines over an eight-hour shift, while robotic units maintain consistent performance throughout. This minimises the cost of managing shifts, payroll, and compliance through automated scheduling, the statement concluded.

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Source: MEConstructionNews


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May 19, 2025 valueeng0

Sobha Realty has unveiled its latest masterplan development in Dubai. Located on Sheikh Zayed Road, Sobha Central promises to be the next transformative lifestyle hub, rising as a vertical urban sanctuary with six premium residential towers. Backed by Sobha Realty’s Backward Integration Model, the masterplan was unveiled with the first tower slated for delivery December 2029.

Sobha Central is designed as a self contained, future forward address where luxury, lifestyle, and business converge. It offers a mix of amenities, working spaces, entertainment venues, and retail experiences, making it a global hub within itself. The development launches with 1,225 homes, a mix of one- and two-bedroom residences for those seeking accessibility, modern amenities, functional design, and investment.

Ravi Menon, Chairman of Sobha Group said, “Sobha Central is a bold expression of our vision to shape the future of urban living in Dubai. Strategically located on the most powerful corridor of the Middle East Sheikh Zayed Road, this development goes beyond architecture to create a self sustained high living community that blends design, connectivity, and functionality. Every element reflects our ‘Art of The Detail’ philosophy, an uncompromising commitment to quality and precision. With Dubai’s real estate market on an upward trajectory, Sobha Central caters to the evolving aspirations of modern homeowners and investors seeking long-term investment value in a vibrant, central location.”

The six towers are linked by an elevated circulation path that connects residents to indoor amenities including the gym, theatre, clubhouse. This pathway extends to select lift cores, providing direct internal access to shopping mall, restaurants, supermarkets, and a Grand Hall for the convenience of both the residents and the surrounding community. The mixed-use project features residential, retail, healthcare and office offerings. The integrated retail podium also delivers a car free shopping & dining experience right at the residents’ doorsteps.

“Recent industry reports highlight Marina, JLT and surrounding corridors among Dubai’s most resilient sub-markets, recording rental yields of 7–10% and consistent capital appreciation; positioning Sobha Central as a prime asset for both end-users and investors,” added Menon.

Outdoors, private themed courtyards are nestled within a central park, offering moments of calm, community, and recreation. Residents will also enjoy open space, with amenities such as landscaped terraces, infinity pools, wellness lounges, and recreational decks.

In line with Sobha Realty’s commitment to sustainable, forward-thinking development, Sobha Central incorporates eco-smart solutions such as double glazed façades, energy efficient HVAC systems, EV charging stations, and advanced district cooling. The use of locally sourced materials further reduces environmental impact and reinforces the brand’s responsible design ethos.

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Source: MEConstructionNews


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May 19, 2025 valueeng0

Meraas has launched a new residential project in Dubai’s d3. The 45-storey Atélis residential project was designed by SOM and will be located on the Creekside shoreline.

Atélis will feature 280 residences with a range of one-, two-, three-, and four-bedroom apartments. Inspired by the UAE’s desert flower, the tower will boast a distinctive facade defined by curved, petal like balconies. The terraces not only create a distinct appearance but also provide shade, enhancing the building’s environmental performance while offering waterfront views and Dubai’s skyline.

Atélis at d3 includes three exclusive duplex sky villas, each of which features a private terrace overlooking the cityscape along with two penthouses with double height living spaces and a statement staircase, combination of space, design, and views.

Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate said, “We are thrilled to unveil an architectural marvel like Atélis at d3, marking a new era for the city’s creative hub. The iconic tower is destined to set new benchmarks for elevated living, further upholding the dynamic urban landscape of Dubai. Its design embodies the innovation and creativity that defines our city, and we are proud to reaffirm our commitment to Dubai’s Economic Agenda D33 and the 2040 Urban Master Plan through this exceptional project.”

Atélis at d3 fosters an experience of tranquillity, wellness, and recreation, by a resort like ambiance. The project offers three floors of amenities, with co working spaces, entertainment room, children’s learning area, and a multi-purpose room that extends to the outdoor gardens on the ground floor. One entire floor features spa and wellness amenities, including a gym, infinity pool with lounges and a reading lawn.

The project forms part of d3’s upcoming expansion, which will play a vital role in meeting the demand from global customers in the design, fashion, and creative industries. The expansion project, which includes the development of six Grade-A office buildings, will add more gross leasable area (GLA) to the district, making d3 the destination of choice for creative minds around the world.

The new development will feature office spaces built in line with LEED certification standards, and is set for completion by H1 2028. The project will also include sports facilities, community spaces, ample parking, fine dining options, all surrounding the residential developments.

Meraas’ projects offer a unique blend of people-centric communities rooted in wellness and sustainability, nestled within planned master communities that are instrumental in realising Dubai’s 2040 Urban Master Plan. Committed to luxury, exclusivity, and privacy, this new address is poised to be part of one of the global creative hubs, d3, which houses creative brands, designers, studios, and entrepreneurs.

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Source: MEConstructionNews


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May 16, 2025 valueeng0

ACCIONA Living & Culture has completed the design and execution of Pathway to Peace, a newly inaugurated exhibition curated by the International Media Office (IMO) of the State of Qatar. This exhibition delves into the crucial role of mediation and peace building in shaping the global stage.

Located in the grand ballroom of the Sheraton Grand Doha Resort & Convention Hotel, the exhibition presents a powerful and captivating journey through Qatar’s dedication to peaceful diplomacy and conflict resolution. Pathway to Peace centre, its focus on mediation as a cornerstone of Qatar’s foreign policy, shedding light on the nation’s role as a neutral facilitator in international negotiations and dialogue, the firm explained.

ACCIONA Living & Culture was the driving force behind the design and execution of this project, overseeing every aspect from spatial adaptation and lighting design to the installation of narrative, audiovisual, and interactive content. The result is an environment that embodies the core values of diplomacy, cultural understanding, and cooperation that underpin Qatar’s global initiatives, it added.

This exhibition marks another milestone in ACCIONA’s presence in the region. It further underscores its expertise in designing innovative cultural spaces that inspire, educate, and foster connections among people through storytelling and thoughtful design. ACCIONA Living & Culture, with its presence in the region, continues to deliver cultural projects that inform, inspire, and foster meaningful public engagement.

The project adds to ACCIONA Living & Culture’s portfolio in Qatar. ACCIONA, in collaboration with UCC, spearheaded the design and museography of the 3-2-1 Qatar Olympic and Sports Museum, the largest museum globally dedicated to Olympic Games and sports. Additionally, ACCIONA led the design and production of 150 media installations for the National Museum of Qatar, played a pivotal role in the development and implementation of Msheireb Museums, and numerous temporary exhibitions for Qatar Museums, including the Al Jazzera Exhibition and Tales of a Connected World: Lusail Museum.

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Source: MEConstructionNews


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May 16, 2025 valueeng0

Umm Al Quwain Free Trade Zone (UAQ FTZ) has signed a Memorandum of Cooperation (MoC) with the Dubai Land Department (DLD), a move that now allows UAQ FTZ-registered companies to legally acquire and register freehold property in Dubai under their business name. This collaboration enables businesses to scale, diversify, and root themselves in the UAE’s real estate market.

“We are proud to lead with purpose and enable our investors to participate in Dubai’s thriving real estate sector with full legal clarity and institutional support,” said Sheikh Mansoor Bin Ibrahim Al Mu’alla,Executive Director of Umm Al Quwain Free Trade Zone Authority.

The agreement establishes a legal and operational framework between the two government entities, eliminating traditional barriers and facilitating the ownership of strategic real estate assets by licensed businesses that align with their growth roadmaps.

“This is a transformative step for the businesses we support. We’ve consistently positioned UAQ FTZ as a strategic gateway to the UAE. This collaboration now gives our license holders the power to secure real estate assets in Dubai, aligning with their growth ambitions and offering long-term operational stability,” added Johnson M. George,General Manager of UAQ FTZ.

“This partnership reflects Dubai Land Department’s commitment to enabling real estate investment across the UAE through collaboration and innovation. We’re proud to work with UAQ FTZ to provide a seamless and legally sound framework that supports business expansion while upholding regulatory excellence,” noted Majid Saqer Almarri, CEO of the Real Estate Registration Sector at Dubai Land Department.

This milestone of inter-governmental cooperation aligns with the UAE’s vision for economic diversification, foreign direct investment growth, and cross-emirate business operations. The resulting benefits span various operational and strategic dimensions. It enables direct freehold ownership under a company name, expedites registrations through integrated digital systems, and ensures transparency in ownership transfers. Both entities have also committed to ongoing regulatory coordination, reinforcing compliance with anti-money laundering and counter-terrorism financing standards.

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Source: MEConstructionNews