Dubai: Dubai Land Department has signed a Memorandum of Collaboration with the Awqaf and Minors Affairs Foundation to develop and enhance the foundation's real estate assets through DLD's Building Classification Project. The memorandum was signed at DLD headquarters by Majid Al Marri, CEO of the Real Estate Registration Sector, and Khalid Al Thani, Deputy Secretary-General of Awqaf Dubai, alongside other senior officials.
According to Emirates News Agency, the collaboration aims to evaluate and reclassify Awqaf Dubai's properties based on DLD's approved standards, upgrading assets following improvements. The agreement also enables inquiry services for lands and properties belonging to deceased individuals, minors, and those under similar legal status, with full access to supporting documentation.
Al Marri stated that the initiative supports Dubai's vision to become a global benchmark in real estate management, including endowment property management. He emphasized the aim to enhance property competitiveness and introduce efficient, transparent mechanisms for managing assets held by deceased individuals and minors. He highlighted the commitment to innovation and government integration, aligned with Dubai's long-term economic and sustainability goals.
Al Thani noted the collaboration underscores Awqaf Dubai's dedication to strategic partnerships that promote inclusivity and sustainable asset management. He mentioned that the classification system will enable the foundation to better assess and upgrade its buildings, ensuring optimal returns in support of endowers and minors.
The partnership will also establish a shared system for accessing endowment property data and processing requests, further enhancing service quality. DLD's Building Classification Project applies five key criteria: engineering and technical standards, sustainability, documentation, health and safety, and management and finance. Properties are rated from 1 to 4 stars, with a 4+ rating for top-performing green buildings. Factors such as maintenance quality, air conditioning, elevators, parking, and fa§ade condition are also evaluated.
The project delivers proactive solutions for real estate stakeholders, benefiting investors, owners, tenants, developers, and both government and private sector entities.