Dubai Chamber of Commerce & Industry (Dubai Chamber) is to merge its real estate interests – the Real Estate & Property Business Group – with Dubai Property Group (DPG) to further promote the needs of Dubai’s booming real estate community.
The combined group will operate under DPG’s name and work together to represent, protect and promote the interests of Dubai’s real estate community
The merger, which will be completed by the end of the year, comes as Dubai’s real estate sector continues its impressive growth. The parties have decided to come together to provide their members with a more recognised legal structure. The merger will also create a direct channel between DPG’s on-going debates, information gathering and recommendation activities and Dubai Chamber’s status as a legal institution with the capacity to execute such recommendations.
The announcement came during a meeting of the two parties’ respective boards with H.E. Hamad Buamim, Dubai Chamber’s Director General and Ahmad Al Matrooshi, Chairman of DPG, in attendance.
Buamim said of the deal: "Our joint decision to merge Dubai Chamber’s real estate business group with Dubai Property Group’s powerful outreach and lobbying activities will provide added impetus to Dubai’s burgeoning real estate community. We believe that this amalgamation will significantly benefit both membership communities and drive significant growth in terms of attracting new members.
DPG’s Al Matrooshi added: “This partnership underscores the emergence of the real estate business community as a major contributor to the country’s economic vitality. With this merger our joint membership base will have the representation it deserves and the voice it has been striving for. By combining our efforts with Dubai Chamber we aim to create an unbeatable combination with more members, more influence, a greater pooling of information and a lively exchange of ideas. The merger will also help deepen international business links with Dubai.”
DPG represents the combined interests of Dubai’s real estate community. It aims to establish standards of best safe industry practices and create a framework of debate and decision-making on related real estate issues, which determine the future of real estate sector.
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