Sheikh Hamdan reviews plans to boost Dubai real estate, create private sector deals worth $2.72bn per year

Sheikh Hamdan reviews plans to boost Dubai real estate, create private sector deals worth $2.72bn per year

Posted on 19 May 2022

The comprehensive restructuring plans for the Dubai Land Department and Dubai Municipality aim to improve operational efficiencies, promote public-private partnerships, ensure sustainable development, and maximise the emirate’s economic, tourism, and commercial potential

Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, the Deputy Ruler of Dubai have reviewed the comprehensive restructuring plans for Dubai Municipality (DM) and the Dubai Land Department (DLD), which include boosting real estate investments and increasing opportunities for businesses through public-private partnerships.

The restructuring plan for the Dubai Land Department seeks to improve the competitiveness of the emirate’s real estate sector and improve operational efficiency by 20 percent.

The plan, which aims to enhance investment in the real estate sector and improve governance in the sector, will include a key deliverable to make the emirate one of the world’s highest ranked cities in various real estate market indicators, including safety and transparency, in the coming years.

Sheikh Hamdan said: “The comprehensive restructuring plans of Dubai Municipality and DLD form part of Dubai’s efforts to transform itself into the world’s best city to live and work and ensure its services and operations keep pace with the evolving global environment.

“It also seeks to raise the emirate’s ranking in various global indicators including environmental sustainability, food security, healthcare, and real estate investment.”

Sheikh Hamdan and Sheikh Maktoum were briefed on the strategic and restructuring plans of Dubai Municipality and DLD by Mattar Al Tayer, Commissioner-General for Infrastructure, Urban Planning and Wellbeing and Member of the Dubai Council.

The new restructuring plan of Dubai Municipality seeks to transform the public entity into an organisation with a private sector mindset.

The plan also seeks to promote productive partnerships with the private sector and create new business opportunities worth $2.72 billion (AED 10 billion) per year.

The authority will be tasked with providing globally-benchmarked services, while keeping pace with the latest developments in sustainable development, environmental preservation, combating climate change, and improving the circular economy, according to state-run news agency, Wam.

The restructuring plan also aims to reduce operational costs by 10 percent, and improve the quality of services by 20 percent, in addition to maximising the economic, tourism, and commercial potential of the authority’s public assets.

The plan has outlined eight major areas for the municipality to develop partnerships with the private sector.

Sheikh Hamdan added: “The teams in the two departments have a great responsibility to lead and manage the emirate’s strategic projects. We will be closely following their progress and supporting them to achieve their objectives.”

Sheikh Maktoum said: “Under the leadership of Sheikh Mohammed bin Rashid, Dubai has set an example for the world in constantly enhancing government operations. Today, we have new priorities and development plans aimed at maintaining the emirate’s competitiveness.”

“To achieve our future aspirations, we need to be responsive to the needs of the community and enhance our productivity and quality. The next phase will see the emirate further improving its services and raising its level of government excellence. We will be closely monitoring the performance of government entities.”

The meeting was also attended by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council; and Mohammed Al Gergawi, Chairman of the Executive Office of Sheikh Mohammed bin Rashid Al Maktoum.

SOURCE: arabianbusiness.com

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