DUBAI: Dubai Land Department (DLD) has signed an agreement with UC Forward, the Chinese parent company behind the Fang.com property portal, to promote the emirate’s property market to Chinese investors.
DLD said that the parties have set a joint objective of securing Dh1 billion worth of investment from Chinese buyers.
Under the deal, UC Forward will promote the Land Department’s work through Chinese channels and foster cooperation between Chinese and Dubai real estate companies. It will also offer consultancy services regarding investments, transactions and rental disputes and provide Dubai Real Estate Institute-certified courses in Chinese for training brokers.
UC Forward will also establish its own counter at DLD’s offices in Al-Fahidi Hall, where it will provide free consultancy services both in Chinese and in English to Chinese investors.
DLD said that since 1996, some 4,475 Chinese buyers have completed 8,259 real estate deals in Dubai. Figures published by last month state that Chinese buyers completed 2,177 of these deals between January 2016 and July this year, spending Dh3.14 billion in the process.
DLD’s director-general, Sultan Butti bin Mejren, said in a press statement on Tuesday: “UC Forward will play an important advisory role, including raising awareness of the advantages of investing in Dubai’s real estate market, and helping to protect investors and their rights by clearly communicating our laws and regulations in both Chinese and English.”
Dubai signs deal to target Chinese property buyers
Dubai signs deal to target Chinese property buyers
Egypt-born Dina Powell McCormick appointed Meta president and vice chairman
- The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
- Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution
LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.
The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.
Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.
Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.
Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.
