Land agency to boost Dubai property listings

The Dubai Land Department, which oversees the sale and purchase of land in the emirate, has agreed to promote listings of real estate entities.

The department signed the agreement with Nasdaq Dubai, a local exchange that aims to attract international issuers.

“Our work with Nasdaq Dubai will inevitably support the aspirations of the private sector, specifically those working in various real estate activities, who want to register a great presence in the market through being listed,” said Sultan Butti Bin Mejren, director general of Dubai Land Department.

Real estate is one of only a few sectors that are well represented in the UAE’s stock market. Nasdaq Dubai already lists Orascom Construction, an Egyptian building firm, and Emirates REIT, the country’s first regulated real estate investment trust.

“Our close links with the Dubai Land Department underscore our commitment to further enhancing the pre- and post-listing environment on behalf of issuers regarding real estate matters,” said Hamed Ali, chief executive of Nasdaq Dubai.

©2017 funds global mena

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