Dubai Land Department (DLD) has signed a strategic partnership agreement with Indian company Q4 Consultants.
As per the agreement, Q4 Consultants will act as a ‘Real Estate Promotion Trustee’.
It will promote Dubai real estate market among India investors and support DLD in its mission to 'consolidate the emirate's position as the world's premier real estate destination for innovation, confidence and happiness,' a release said.
The agreement was signed by His Excellency Sultan Butti bin Mejren, director general of DLD, and Deepak Batra.
H E Mejren said, "We place a high priority on the Indian market, especially as Indian investors occupy a leading position among the top three nationalities investing in Dubai each year. India has huge numbers of investors looking for exceptional international investment opportunities, and Dubai is certainly able to answer this demand with its diverse investment options and attractive real estate environment.”
H E Majida Ali Rashid, assistant director general and head of the real estate investment management and promotion center, the Investment arm of DLD, said, “This agreement demonstrates our keenness to strengthen cooperation between a select group of real estate promotion professionals in a number of countries in order to attract local and foreign investors to Dubai. We are confident that our agreement with Q4 Consultants will help us achieve these goals."
Figures issued from DLD’s real estate studies and research department show that the total value of Indian transactions from the beginning of January 2017 to the end of November this year reached AED 20.94bn, from 7,810 investments carried out by 6,150 investors, while the value of Indian investments reached AED 14.185bn.
A total of 1,295 Indian brokers are employed in Dubai’s real estate market, and over the same report period they earned commissions of AED 226mn for 2% of the sales they made, the release said.
Q4 Consultants will provide real estate promotion services in India, including customer inquiry services, to attract investment and introduce investors to DLD’s services. The company will also support DLD by participating in real estate promotion exhibitions and workshops organised by the department and its partners in different areas of India.