Alsuwaidi & Company is one of the selected law firms in the UAE to partner with the Dubai Land Department (“DLD”) on the Real Estate Lawyer initiative.
- The Real Estate Lawyer initiative presents Dubai as one of the world’s most attractive investment destinations globally.
- The Initiative opens Dubai’s real estate industry to both local and international investors by promoting the ease and efficiency of real estate transactions.
- The Initiative anchors real estate transactions on transparency, making verifiable information readily available through legal professionals and technology.
On 5th March 2020, Alsuwaidi & Company signed an agreement with the DLD which licenses and regulates ‘Real Estate Lawyer(s)’ in Dubai. The agreement was signed by HE Sultan Butti bin Mejren, Director General of DLD, and Mohammed R. Alsuwaidi, Managing Partner of Alsuwaidi & Company.
By encouraging foreign participation in Dubai Real estate market, the DLD hopes to further stimulate the sector.
The DLD’s real estate initiative is designed to encourage a wider base of investors including foreign participation in the Dubai real estate sector. By easing the processes through the use of technology and cooperation between public and private stakeholders, the DLD hopes to stimulate growth and investment in Dubai’s real estate sector and in the wider Dubai economy.
As one of the leading law firms in the UAE, with extensive experience and deep-rooted understanding of real estate law, Alsuwaidi & Company was selected as law firm partner to the DLD and has been accredited and licensed by the DED as an approved Real Estate Lawyer.
With its license, Alsuwaidi & Company will have access to Dubai’s Real Estate Register and the Interim Register. This will enable us to conduct the necessary due diligence, enquiry and search on properties and ensure that our Clients have comprehensive and accurate information on properties which are of interest to them.
The DLD will also rely on our certifications on company structures and ownership which will facilitate the registration of real estate transactions. Alsuwaidi & Company will also have access to Real Estate Escrow services account maintained by DLD for real estate dispositions, and further be fully licensed to provide Legal Consultation Service for real estate matters. Over time, we envisage other mutually agreed services to be included.
The DLD will benefit from our cooperation as we will assist in providing information on real estate transactions. We will also encourage real estate transactions with the ease of verification of property legal status, thus promoting Dubai real estate as an asset. By acting as Legal Consultants to the DLD and its Clients, they too will benefit from our experience and expertise in UAE real estate law.