Dubai Land Department unveils incentive benefits of real estate investment trusts inviting eligible companies to register

Dubai Land Department unveils incentive benefits of real estate investment trusts inviting eligible companies to register

It supports the objectives of Dubai Economic Agenda D33, which focuses on attracting foreign investments and increasing private sector investments in development projects. Local and International property Trusts are encouraged to register, enhancing the overall value of real estate transactions. Registered REITs benefit from numerous advantages, including a real estate fee upon Establishing a Trust, and a 2% Registration Fee Based on Market Value for Trusts Registering Usufruct Rights or Long-Term Lease Rights. Registered REIT get many privileges, such as benefiting from the value of real estate fees in the event of establishing a real estate trust Further, they can benefit from a 2% registration fee calculated on the market value of the property when recording a usufruct right or securing a long-term lease agreement. Sultan Butti bin Mejren: The launch is a new path in the emirate's journey towards a more ready future, by raising its attractiveness for local and foreign real estate investments . Dubai, United Arab Emirates: Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts (REIT) privileges registry, and announced the opening of registration in it. Following design and development of the online platform and the training the