ADGM, the international financial center in the UAE’s capital, has joined forces with the Department of Municipalities and Transport (DMT) to announce a significant Memorandum of Understanding (MoU) aimed at facilitating the transition of real estate services within ADGM’s expanded jurisdiction.
Enhancing municipal services
As ADGM broadens its footprint on Al Reem Island, this MoU establishes a strategic alliance with DMT to transfer real estate services, enhancing the efficiency and quality of municipal services available to residents and businesses in ADGM’s area. The agreement clarifies the roles and responsibilities of both entities, ensuring a smooth transition of the real estate sector on Al Reem Island from DMT to ADGM, while promoting ongoing collaboration in urban planning, infrastructure, and other vital services.
Read more: ADGM ensures seamless transition with incentive program for Al Reem Island businesses
Benefits for residents and businesses
Hamad Sayah Al Mazrouei, CEO of the ADGM Registration Authority, remarked that the collaboration with DMT represents a crucial milestone in ADGM’s expansion, establishing new standards for the real estate sector. He noted that the move to Al Reem Island not only signifies progress for ADGM but also brings considerable advantages to residents and businesses within its jurisdiction. Additionally, this initiative demonstrates ADGM’s strong dedication to supporting Abu Dhabi’s rapid growth and nurturing a vibrant investment ecosystem. He emphasized that through the MoU, both entities intend to utilize their collective expertise to provide high-quality, efficient services that meet the community’s evolving needs. Moreover, he mentioned that ADGM plans to implement a comprehensive regulatory framework to ensure transparent, efficient, and globally aligned real estate practices in the expanded jurisdiction, reinforcing its dedication to innovation and outstanding quality in real estate regulations.
Commitment to urban development
For his part, Dr. Salem Al Kaabi, director general of Operational Affairs at the DMT, reflected on the importance of the MoU, stating that it marks a significant milestone in their joint efforts to improve the quality and efficiency of real estate services in Abu Dhabi. He further highlighted that partnering with ADGM is intended to facilitate a smoother integration process and strengthen their commitment to excellence in urban development. He emphasized that this collaboration embodies their shared vision to drive progress, streamline operations, and ultimately provide exceptional amenities to the community.
This partnership positions ADGM to lead in innovation, efficiency, and excellence in real estate and municipal services, further solidifying Abu Dhabi’s status as a premier global financial hub for business and investment.
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