DFM, DLD join hands to promote listing of REITs

dubai — The Dubai Financial Market (DFM) has signed a memorandum of understanding (MoU) with the Dubai Land Department (DLD) to open up new opportunities in the financial market for real estate companies, with a particular focus on real estate trust funds (REITs), and facilitate the listing of both the companies operating in the real estate sector and their assets.

Essa Kazim, chairman of the DFM, and Sultan Butti bin Mejren, director-general of DLD, signed the MoU.

Kazim said: “The DFM is fully committed to creating the necessary frameworks for various sectors — with precedence given to the real estate sector due its importance in Dubai — to take advantage

Our agreement will encourage a greater number of real estate companies and REITs to list on the market Essa Kazim, chairman of DFM

of the benefits of being listed with us. This agreement with DLD will strengthen the cooperation between our two institutions and is significant within the context of our 2021 strategy, which aims to diversify product offerings and attract issuers from various economic sectors.”

He continued: “Our agreement will encourage a greater number of real estate companies and REITs to list on the market due to the many incentives included in the MoU. The DFM is also developing a new platform for the listing and trading of REITs.”

Bin Mejren said: “Our MoU with the DFM aims to stimulate investment in the real estate sector and promises to enrich the sector via opportunities and incentives for major listed companies on the market. It will also facilitate the process for obtaining funds in an organised and transparent manner. Through our cooperation with the DFM, we will regulate and control the registration procedures for land and property owned by listed companies and REITs.”