The UAE Guest Of Honour At 2nd Wafiex 2019 In Jeddah
Dubai Land Department (DLD), through a delegation from the UAE, was keen to accept the Saudi Arabian Ministry of Housing’s invitation to effectively participate in Wafiex forum and exhibition for off-plan projects (Wafiex) 2019 in Jeddah, KSA in line with the cooperation and comprehensive integration between the UAE and KSA.
HE Sultan Butti bin Mejren, Director General of DLD, headed the delegation that included a number of DLD senior management as well as the participation of a number of real estate developers and parties involved in off-plan project sales.
During his keynote speech as the guest of honour, bin Mejren said: “We are pleased to participate in this event and represent the UAE as the guest of honour where we witnessed high reception and interest from the organisers and the Saudi Minister of Housing. This participation contributes to strengthening economic ties with the KSA and allows for the exchange of experiences to reach best practices, benefitting the real estate sector in the two sister countries. In the UAE, we will not hesitate to cooperate in any forum the KSA organises.”
DLD’s participation recorded remarkable success by providing a platform that offered its innovative services to serve off-plan sales activities and highlighted its procedures and legislation to ensure a stable and transparent market, such as its smart services and applications for all parties. Furthermore, a number of DLD’s officials participated in keynote speeches at the meetings organised by Wafiex.
Bin Mejren added: “We utilise several systems that ensure global excellence by applying today what the world will in 10 years, in line with the Dubai 10X Strategy that aims to make Dubai’s Government entities the most efficient and effective in the world. We launched the first-of-its-kind Dubai Real Estate Self Transaction (REST) smart application to digitise all real estate transactions, contributing to reducing the time and effort that such transactions usually require.”
Wafiex featured six main topics that covered engineering design and its role in serving off-plan project sales, marketing off-plan projects and risk management, and the role of media and advertising in off-plan project sales as well as:
- The role of governments in supporting off-plan project sales: Participants discussed the emergence date of off-plan project sales in the GCC, government regulations and their role in promoting or hindering off-plan project sales, and the role of off-plan project sales in enhancing government flexibility to solve housing problems, investment implications of off-plan project sales on governments, and the effectiveness of their roles, highlighting the future vision of such projects.
- Managing real estate developments
- The role of mortgage finance institutions and their role in off-plan project sales
DLD signed a memorandum of understanding (MoU) with the Ministry of Housing in the KSA, emphasising both parties’ keenness to support and strengthen their existing strategic cooperation as well as unify efforts to improve the institutional work and serve customers in all categories due to the resulting positive economic and social impact. Under the MoU, the parties agreed to support and promote the exchange of experience and professional knowledge in various field, employ them is manner that caters to both parties, and review best practices to maximise their benefit. This increases the efficiency and serves the strategic objectives of both parties in accordance with the highest international standards.
