July 06 2019

DLD & Tanami signs MOU to promote the Manzili Initiative

In what could be termed as positive news for home buyers and investors, a memorandum of understanding ( MoU) was signed between Dubai Land Development ( DLD) and Tanami Properties ( TP). Under the terms of the agreement, DLD will now support the Manzili initiative launched by TP.

The MOU is all about strengthening the strategic relationship between the public and private sectors and create awareness among the public, in a bid to develop the real estate market of Dubai.

On the new development related to the Manzili initiative, HE Sultan Butti bin Mejren said: “This relationship is in line with our institutional goals to provide a systematic approach to register lands and properties, protect customer rights, and ensure all legal aspects related to land sales and purchases. We hope that our partnership and cooperation with the private sector will help us create an attractive global investment environment, achieve the government’s strategic objectives for the real estate sector, encourage investment in it by creating the right climate for real estate investors, and enhance the contribution of the real estate sector to the overall development of the Emirate.”

The CEO of Tanami Properties, Samer Ali Nasser AlNaqbi further commented: “In its efforts to encourage real estate investments and to add further transparency to Dubai’s market, TP and DLD signed the Manzili initiative, a contribution from DLD and TP during the Year of Tolerance that aims to bring prominent players in the real estate sector to create valuable opportunities for owning a house in Dubai.”

As per the MoU, the two parties did agree on the growing importance of real estate investment. For this very reason, DLD was keen to sponsor the Manzili initiative, so as to present the multinationals working in the UAE with viable real estate opportunities. The basic objective here is to assist them purchase their dream home, based on their specifications.

By and large, the initiative is based on the idea that each and every individual if given the ideal opportunities can buy the ideal home, choose a payment plan that matches their needs or they can start saving to buy the home of their choice.

The opportunities, in particular, will be made available to all the UAE residents working in public and private sectors, irrespective of their nationalities, religious belief or ethnicities. There comes a time, when everyone looks for an opportunity to own a home or invest in the highly lucrative Dubai real estate market. For this very reason, some of the prominent real estate developers do offer special offers along with feasible payment plans and last but not least, some remarkable saving schemes. In all of this, TP will act as a facilitator and real estate investment consultant, so as to help the buyers and investors make an informed decision.

The terms of the MoU clearly states that DLD will be granting TP the title of Real Estate Investment Advisor for a period of 1 year, wherein TP will conduct workshops about the initiative in the headquarters of companies and institutions, operating in the UAE. Besides opening registration centres, TP will also be responsible to coordinate with the key savings service provider such as National Bonds, so as to present relevant savings programs and real estate investment calculator. This in a way will enable the individuals to secure the ideal offers, based on their preference and capability.

TP will be working closely with DLD to achieve the basic objective pertaining to real estate promotion and investment in Dubai. This also includes specialized real estate consultancy for real estate developers, brokers as well as investors. Most important of all, both the parties are very much interested in simplifying the chaotic transaction procedures, increase transparency, simplify the procedure and apart from making Dubai a destination, ideal for buying home and investment.