Dubai Land Department (DLD) has signed a memorandum of collaboration with Awqaf Dubai to enhance the performance and classification of the latter's real estate portfolio. The partnership aims to boost the competitiveness of endowment properties in the emirate’s market through DLD’s Building Classification Project.
As part of the agreement, DLD will assess and reclassify Awqaf Dubai’s properties using its approved standards, following upgrades made to improve quality. The memorandum also grants Awqaf Dubai access to DLD’s systems to streamline services related to properties belonging to minors, deceased individuals, and those under guardianship.
The Building Classification Project uses five core criteria – engineering, sustainability, documentation, health and safety, and financial management – to assign a star rating from 1 to 4+, with top ratings reserved for buildings meeting the highest green standards. The project supports a range of stakeholders, from investors to government bodies, with solutions that elevate transparency and value in Dubai’s property sector.
Gulf Economist Staff Writer