The UAE’s Dubai Land Department has launched a strategic plan which aims to position Dubai as a world leader in the real estate investments sector.
According to a report published by the news agency WAM, the primary mission of the strategic plan is to provide seamless real estate services in Dubai, along with implementing effective legislation and providing the necessary human capital for the sector to grow and evolve.
The strategy, which will be implemented until 2026, also aims to increase the contribution of the real estate sector to the emirate’s GDP, which will in turn play a crucial role in helping Dubai to become one of the most developed economies in the world.
The WAM report further noted that the strategy is based on five main pillars deemed essential for the growth of Dubai’s real estate sector.
The first pillar is directed at pioneering a real estate model that enhances the sector’s readiness and sustainability, along with ensuring effective governance in the sector.
Under the second pillar, Dubai aims to become a real estate incubator by fostering a globally attractive environment and harnessing technology to enable the development of real estate solutions.
The third pillar of the strategy is centered on a data-driven approach, while the fourth pillar will promote a flourishing digital ecosystem in the real estate sector.
The fifth pillar concentrates on shifting to an employee-first culture and adopting a human-focused approach.
The strategy is aligned with the adoption of Resolution No. 81 approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, who approved the organizational structure of the Dubai Land Department.’
Meanwhile, recent data released by DLD showed that as of Dec. 26, Dubai real estate market reported 515 sales transactions worth 1.44 billion dirhams ($408 million), and 19 gift deals amounting to 137.87 million dirhams.
According to DLD’s data, the sales included 483 villas and apartments worth 1.14 billion dirhams, and 32 land plots worth 299.29 million dirhams.