Majid Al Futtaim and Aldar aim to become the first developers in the United Arab Emirates to digitize real estate sales transactions
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The collaboration between Majid Al Futtaim and Aldar follows the recent signing of a memorandum of understanding that will see the two parties working together to improve innovation, customer experience, digital transformation and sustainable practices in the real estate sector. . Supporting the UAE’s desire to increase the contribution of the Fourth Industrial Revolution to the national economy, the MoU aims to encourage knowledge sharing and collaborative innovation in the real estate sector.
âThe release of the new e-law and the launch of our new digital real estate sales platform marks the next step in our digital transformation journey as we aim to become the most customer-centric developer in the region. As the first real estate organizations in the UAE to adopt this online system, Majid Al Futtaim welcomes this collaboration with Aldar and aims to work together to create a more innovative industry. In the future, this will allow our customers to benefit from transparent and secure transactions, regardless of their location. Said Hawazen Esber, CEO of Majid Al Futtaim Communities.
Jonathan Emery, CEO of Aldar Development, said: âThe new electronic law is an important development for the UAE real estate industry. This will not only improve the experience for buyers, but encourage overseas investment in what is a modern, digital market. Together with Majid Al Futtaim – Communities, we hope to encourage further collaboration within the industry to ensure that the UAE real estate market is at the forefront of innovation, digital transformation and sustainability.
The introduction of new visa reforms, the ease of business ownership, as well as the economic impact of Expo 2020 Dubai have strengthened the UAE’s position as a hub for living and working and created a perfect opportunity for real estate owners and investors who are looking for a strong real estate market. The new system increases operational efficiency, resulting in both lower costs and a more seamless experience, creating a simplified platform for investors and customers. Driving Environmentally Friendly Business Practices Majid Al Futtaim Communities and Aldar Properties remain at the forefront of UAE’s efforts to create a more digital future, supporting more efficiency in real estate transaction management processes .
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About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the pioneer of shopping centers, communities, retail and entertainment in the Middle East, Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to âcreate great moments for everyone, every dayâ. It has since grown into one of the most respected and successful companies in the UAE, covering 17 international markets, employing over 43,000 people and achieving the highest credit rating (BBB) ââamong companies. private areas of the region.
Majid Al Futtaim owns and operates 29 shopping malls, 13 hotels and four mixed-use communities, with other developments underway in the area. The shopping center portfolio includes the Mall of the Emirates, Mall of Egypt, Mall of Oman, City Center shopping malls, My City Center neighborhood malls and five community malls which are in joint venture with the government of Sharjah. The Company is the exclusive franchisee of Carrefour in more than 30 markets in the Middle East, Africa and Asia, operating a portfolio of more than 375 points of sale, including City +, the first cashless store in the region and a store in line.
Majid Al Futtaim operates over 500 VOX Cinemas screens as well as a portfolio of world-class leisure and entertainment experiences in the region, including Ski Dubai, Ski Egypt, Dreamscape, Magic Planet, Little Explorers and iFLY Dubai. The Company is the parent company of a fashion, home and specialty retail business representing international brands such as Abercrombie & Fitch, Hollister, AllSaints, lululemon Athletica, Crate & Barrel, Maisons du Monde, LEGO and That , a concept store and fashion application from Majid Al Futtaim. In addition, Majid Al Futtaim operates Enova, an energy and facilities management company, through a joint venture with Veolia, a world leader in optimized management of environmental resources.
www.majidalfuttaim.com/fr
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About Aldar
Aldar Properties PJSC is the leading real estate developer and manager in the United Arab Emirates with a diversified and sustainable operating model focused on two core businesses: Aldar Development and Aldar Investment.
Aldar Development is a leading developer of integrated, livable and thriving communities in Abu Dhabi’s top destinations including Yas Island, Saadiyat Island, Al Raha and Reem Island. He is responsible for the development of c. A 65 million m² land bank comprising three companies: Aldar Projects, which manages Aldar’s paid development management activities, including AED 45 billion of public housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and areas of innovation; and Aldar Egypt, the platform focused on the development of mixed-use communities in Egypt.
Aldar Investment is home to Aldar’s core asset management business, which comprises an AED 16 billion portfolio of investment grade and income-generating real estate assets diversified across the retail, residential and commercial segments. It also manages three main platforms: Aldar Education, Aldar Estates and Aldar Hospitality and Leisure. Aldar Education comprises the entire educational portfolio of Aldar, including Aldar Academies, Abu Dhabi’s leading education group, with 20 schools, over 24,000 students and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of programs and ancillary services such as a teacher training academy.
Aldar Estates consolidates Aldar’s retail operations alongside existing residential and commercial real estate operations within Provis and will further include community management under an integrated property management platform. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, anchored around Yas Island and Saadiyat. It includes Aldar’s 10 hotel portfolio, comprising over 2,900 hotel keys and management operations at golf courses, beach clubs and marinas.
Aldar’s shares are traded on the Abu Dhabi Stock Exchange (Stock Quote: ALDAR: UH) and are a profitable, cash-generating business that generates recurring income and benefits from a diverse and supportive shareholder base. Aldar operates to high standards of corporate governance and is committed to operating a long-term, sustainable business in order to provide continued value to its shareholders.
Aldar is driven by the vision to be a leading property developer and manager in the region by playing a key role in developing quality, comfortable and desirable destinations in which people can live, work and visit.
For more information about Aldar, please visit www.aldar.com
© Press release 2021
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