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Information about the land conditions can be given when the Dubai Land Department studies the condition of Land relations. In November 2013, Dubai Land Department launched an online real estate portal designed for sale, rental and auctions of properties, as well as for exchanging private and public real estate information. [2]
The Dubai government established the Dubai Land Department in 1960 to manage the city's land and property assets. [3] The department is responsible for registering all real estate transactions and ensuring that all property-related laws and regulations are followed.
In Dubai, EJARI is an online registration system initiated by the Real Estate Regulatory Agency (RERA) that requires all rental or lease contracts in Dubai to be recorded at this portal. [1] The main objective of the system is to legalize the relationship between landlords and tenants in Dubai. [citation needed]
In January 2022, the Dubai Land Department signed a memorandum of understanding with Bayut to provide Dubai’s real estate market with interactive data and reports. [ 5 ] [ 6 ] [ 7 ] References
The Dubai Executive Council is the legislative arm of the Dubai government. Following its formation in 2003, the Dubai Executive Council has become the legislative arm of the Dubai government, enforcing royal decrees issued by the ruler of Dubai into governmental regulations and policies and facilitating intra-governmental communication.
Tourism is a major economic source of income in Dubai and part of the Dubai government's strategy to maintain the flow of foreign cash into the emirates. [19] The tourism sector contributed in 2017 about $41 billion to the GDP, making up 4.6% of the GDP, and provided some 570,000 jobs, accounting for 4.8% of total employment. [20]
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The investigation was based on 2020 and 2022 data leaks, primarily from the Dubai Land Department and publicly owned utility companies. The EU Tax Observatory and Norway's Centre for Tax Research evaluated that in 2022, the foreign ownership in Dubai's real estate market was worth approximately $160 billion.