2 min read
Dubai Unlocks Prime Real Estate for Global Investors
by
Anna Fischer
Published 28 Jan 2025
The Dubai Land Department (DLD) has announced a significant change in property ownership rules along Sheikh Zayed Road and in the Al Jaddaf area.[?]
Source: freepik
Private property owners in these prime locations can now convert their properties to freehold status, opening ownership opportunities to all nationalities. The initiative encompasses 457 plots, with 128 located along Sheikh Zayed Road from the Trade Centre Roundabout to the Water Canal, and 329 in Al Jaddaf.
This transformative change is expected to significantly boost property values and attract new investments in these already prestigious areas. According to Marwan Ahmed bin Ghalita, DLD Director-General, the initiative will strengthen Dubai's position as a global investment destination. He believes:
This transformative change is expected to significantly boost property values and attract new investments in these already prestigious areas. According to Marwan Ahmed bin Ghalita, DLD Director-General, the initiative will strengthen Dubai's position as a global investment destination. He believes:
This initiative will not only enable owners to benefit from price changes but will also enhance the attractiveness of the Dubai real estate market, drawing long-term investments. The Dubai Land Department is committed to providing all the services needed to facilitate this move.
Marwan Ahmed bin Ghalita
DLD Director-General
Property owners interested in converting to freehold status can begin the process through the Dubai REST smart app to verify their eligibility. After confirmation, they'll need to submit an application to the DLD for property assessment and valuation. The conversion requires a fee of 30% based on the property's valuation, calculated on the Gross Floor Area, along with standard common area fees and service charges. Upon completion of payment, owners will receive their new freehold ownership title deed and property map.
This initiative aligns perfectly with Dubai's ambitious Real Estate Strategy 2033, which aims to increase real estate transactions by 70% and raise the total market value to AED 1 trillion ($272 billion). The strategy also seeks to expand Dubai's real estate portfolios to AED 20 billion ($5.44 billion).
The shift to freehold status in these key areas represents a significant opportunity for current property owners, who can now expect higher property values, increased investment opportunities, and access to a broader market of potential buyers. This move further cements Dubai's reputation as a premier destination for global real estate investment.
This initiative aligns perfectly with Dubai's ambitious Real Estate Strategy 2033, which aims to increase real estate transactions by 70% and raise the total market value to AED 1 trillion ($272 billion). The strategy also seeks to expand Dubai's real estate portfolios to AED 20 billion ($5.44 billion).
The shift to freehold status in these key areas represents a significant opportunity for current property owners, who can now expect higher property values, increased investment opportunities, and access to a broader market of potential buyers. This move further cements Dubai's reputation as a premier destination for global real estate investment.
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