Property owners in Dubai have become eligible for freehold interest
Property owners in Dubai have become eligible for freehold interest
The Dubai Land Department (DLD) has announced that property owners in the Al Jaddaf areas and along Sheikh Zayed Highway can now convert to freehold ownership, allowing investors of all nationalities to own properties without restriction.
The Dubai Land Department (DLD) has announced a significant change in the regulation of the real estate market, allowing owners of 457 plots in the Al Jaddaf areas and along Sheikh Zayed Highway to change their ownership status to freehold. This means that properties in these areas are now available for ownership without nationality restrictions, making them more attractive to investors.
A total of 329 plots in Al Jaddaf and 128 plots along Sheikh Zayed Road (from Dubai Mall traffic circle to the water canal) have been given the opportunity to convert to full ownership. This decision aims to enhance the investment attractiveness of these areas and strengthen Dubai's position as one of the leading international real estate hubs.
DLD CEO Marwan Ahmed bin Ghalita said the initiative contributes to increasing the market value of real estate, inflow of new capital and development of the sector. It also supports Dubai's real estate strategy 2033, which aims to grow the number of real estate transactions by 70%, increase market value to AED 1 trillion and expand the industry's investment portfolio to AED 20 billion.
Dubai is actively developing the real estate market by offering new initiatives to attract investors. In recent years, the authorities have expanded opportunities for foreign buyers by simplifying the process of owning and investing in real estate. One of the key steps was the introduction of long-term visas for property owners and now the authorization to convert plots to freehold status in strategic areas.
For investors, this means the ability to purchase real estate in Dubai with complete freedom of ownership and no time restrictions. Owners of plots in Al Jaddaf and Sheikh Zayed Road will be able to increase the value of their assets, making their properties more liquid. In addition, increased investment in these areas will lead to infrastructure development and price increases, which benefits both current owners and future buyers.
The DLD's decision to convert properties to freehold status strengthens Dubai's position as a global real estate investment hub. This is an important step to attract international capital, increase the market value of properties and create favorable conditions for long-term ownership of properties in key areas of the city.