Dubai Expands Freehold Areas to Attract New Investments
Dubai has once again demonstrated its forward-thinking approach to urban development and investment attraction. The emirate has announced a significant expansion of freehold property areas, aiming to drive substantial growth in its dynamic real estate sector.
Unlocking Opportunities Along Sheikh Zayed Road and Al Jaddaf
Private property owners in key areas along Sheikh Zayed Road, from the Trade Centre Roundabout to the Water Canal, and in Al Jaddaf are now eligible to convert their properties to freehold ownership. This transformative initiative includes a total of 457 plots: 128 on Sheikh Zayed Road and 329 in Al Jaddaf, as confirmed by the Dubai Land Department (DLD) through the state-run WAM news agency.
This move marks a significant milestone in Dubai’s real estate landscape, as it opens up ownership opportunities to all nationalities. The freehold model has long been a cornerstone of Dubai’s appeal to international investors, and this expansion is poised to further solidify the city’s position as a global real estate hub.
A Boost to the Real Estate Sector
Marwan Bin Ghalita, director-general of DLD, emphasized the broader implications of this initiative. He stated that enabling private property owners to convert to freehold ownership would "drive significant growth in Dubai’s real estate sector." This strategy not only allows property owners to capitalize on market price fluctuations but also enhances the overall attractiveness of the real estate market, fostering long-term investments.
The conversion process is both innovative and streamlined. Property owners can check their eligibility through the Dubai Rest smart app and complete the conversion by paying a fee of 30% of their property’s valuation based on its gross floor area.
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A Vision for 2033 and Beyond
This initiative aligns seamlessly with Dubai’s ambitious Real Estate Strategy 2033, which aims to:
By fostering a robust and transparent property market, Dubai is creating an environment that not only attracts foreign investments but also empowers local property owners to maximize the value of their assets.
A City of Boundless Possibilities
Dubai’s decision to expand freehold areas is a testament to its commitment to innovation and inclusivity. By embracing such forward-thinking policies, the city is set to remain a global leader in real estate, attracting investors and residents alike who seek opportunities in one of the world’s most vibrant urban landscapes.
Whether you’re an investor, a property owner, or someone considering Dubai as your next destination, this latest initiative underscores why Dubai continues to be a city of boundless possibilities and unmatched potential.