Dubai Real Estate Institute (DREI), the educational arm of Dubai Land Department (DLD), today signed a memorandum of understanding (MoU) with UAE-based regional law firm BSA Ahmad Bin Hezeem & Associates LLP (BSA), at Cityscape Global 2019.
The MoU aims to develop professional skills in the real estate industry to promote Emiratisation and was signed by Hend Obaid Al Marri, CEO of DREI, and Dr Ahmad bin Hezeem, senior partner, BSA.
Al Marri said: “We are pleased to be signing an MoU with BSA that will further consolidate our mission to educate and enlighten real estate professionals interested in the real estate sector through best practice international standards to be the global leading real estate environment and attract investments. We look forward to uplifting the careers of young Emiratis and look towards BSA for their training and preparation to enter one of the most dynamic real estate markets in the world.”
Bin Hezeem said: “The real estate industry in the UAE is extremely competitive at the moment, and the regulatory environment is constantly changing. This requires the adoption of bespoke programmes that help develop the skills of young professionals, facilitating them to better navigate these changes. Coupled with our collaboration with DLD, our aim is to support the career paths of young Emiratis through workshops and training programmes that will empower and equip them to be the future leaders of the industry.”
As part of the agreement, BSA and DLD will work together across research and training and development programmes aimed especially at young Emiratis entering the real estate industry.
The announcement follows a previous MoU between DLD and BSA to promote foreign and local investment opportunities in Dubai through an innovative framework that will boost transparency and streamline transaction processes for investors in the sector. As part of the Real Estate Lawyer (REL) initiative, DLD is introducing several investment products to lift restrictions in the current real estate laws that will allow for more vigorous real estate investment in Dubai. The initiative will especially facilitate the purchase and sale of properties by corporate entities with ultimate foreign ownership, therefore opening up the market to more corporate investors.