Dubai Land Department (DLD) said it has signed an agreement with Emirates Islamic, one of the leading Islamic financial institutions in the UAE, which agreed to be a banking partner in its efforts to boost the growth of the Dubai real estate sector.

DLD is keen to establish partnerships with the private sector in order to work together in support of the Dubai real estate sector, remarked Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, after signing the deal with Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management at Emirates Islamic.

"Emirates Islamic, one of the largest national banks in the UAE with a wide range of customers, will support our initiatives and directives in promoting the Dubai real estate market and our ongoing strategy to attract more investors from around the world," she added.

DLD, she stated, has played an important role in establishing Dubai as the most transparent realty market in the Mena region, as per JLL’s Global Real Estate transparency index.

The MoU will seek to leverage Emirates Islamic’s innovation-driven banking solutions expertise and customer-focused approach to support DLD’s vision of positioning Dubai as the world’s premier real estate destination and a byword for innovation, trust and happiness​, she added. ​​​

​Saifi said: "As a leading local bank, we are delighted to partner with Dubai Land Department as the bank of choice for investors in the Dubai real estate sector."

"We believe that public-private sector collaborations play a strong role in achieving national objectives of creating a better environment for customers and investors. We also remain committed to supporting DLD’s mission of continually raising the bar for transparency and efficiency in Dubai’s real estate transactions," he added.-TradeArabia News Service