18 October, 2017
StoneArb acquires prime residential real estate in Downtown Dubai
Transaction utilises MOU signed in May allowing DIFC companies to purchase and register properties with the Dubai Land Department
Dubai-UAE: 18 October 2017 - StoneArb Investments Limited (StoneArb) has become the first DIFC-based entity to purchase and register property with the Dubai Land Department (DLD).
In May, DIFC and DLD signed a Memorandum of Understanding (“MoU”) that allows entities based in the Centre to purchase and register properties with the DLD. The strategic agreement simplifies the land owner registration process and is expected to encourage greater institutional investment into Dubai’s real estate sector.
StoneArb is a real estate investment fund, established in the DIFC and regulated by the Dubai Financial Services Authority (“DFSA”). It has a mandate to deploy capital into the Dubai real estate market.
Stephanie Bosio, Chief Executive Officer of StoneArb, said, “This transaction was a true collaboration between StoneArb, DIFC and DLD. I would like to thank all parties for ensuring the transaction was completed in a timely manner. Our fund offers investors the opportunity to access the Dubai real estate market and diversify their holdings, all within a secure DIFC framework with high international standards.”