In a move set to enhance inter-emirate economic activity, companies registered within the Umm Al Quwain Free Trade Zone (UAQ FTZ) will now be permitted to acquire freehold property in Dubai. This development follows a landmark Memorandum of Cooperation (MoC) signed between UAQ FTZ and the Dubai Land Department (DLD).
The agreement establishes a legal and operational framework that allows UAQ FTZ-registered companies to legally own and register freehold properties in Dubai under their business name. This strategic collaboration aims to empower businesses by providing them direct access to Dubai’s robust real estate market.
Sheikh Mansoor Bin Ibrahim Al Mu’alla, Executive Director of Umm Al Quwain Free Trade Zone Authority, stated, “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.”
Johnson M. George, General Manager of UAQ FTZ, added, “This is a transformative step for the businesses we support… 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.”
The agreement facilitates direct freehold ownership under a company name, fast-tracks 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.
Majid Saqer Almarri, CEO of the Real Estate Registration Sector at Dubai Land Department, noted, “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.”
This inter-governmental alignment is in line with the UAE’s broader vision for economic diversification and increased foreign direct investment.
Key Highlights:
- UAQ FTZ and Dubai Land Department have signed an agreement allowing UAQ FTZ firms to own freehold property in Dubai.
- This aims to boost economic synergy between the emirates.
- The agreement streamlines the process for UAQ FTZ companies to invest in Dubai real estate.
- It covers legal frameworks, registration, and regulatory compliance.