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🔻For Investors’ information: property ownership rights in the UAE
Since 2002, the Dubai real estate market has become accessible to foreign buyers. The emirate's territories are divided into two zones, which determine the form of property ownership.
1. Freehold (full ownership):
Acquisition of a property in full ownership is possible in certain zones. The buyer receives the corresponding document after full payment for the property. Such zones include popular locations such as Dubai Marina, Business Bay, Downtown, as well as JLT, JVC and Arjan.
2. Leasehold (rent):
This form of ownership means owning real estate or land under a lease agreement for up to 99 years. The investor can use the property at his own discretion: rent it out, sell it, etc. However, when reselling, the new owner will be able to dispose of the property only for the remaining lease period. Upon expiration of the term, the contract can be extended for another 99 years, but it cannot be terminated early.
🔷Special aspects in other emirates:
In Ras Al Khaimah, the opportunity to purchase real estate in full ownership (freehold) appeared in 2006-2008. Examples of such zones: Al Marjan, Mina Al Arab and Al Hamra Village.
In Abu Dhabi, registration of housing in full ownership became available only in 2019.
👍In summary:
Property rights in the UAE provide foreign investors with wide investment opportunities. However, it is important to consider the differences between freehold and leasehold zones, as well as the specifics of the legislation in each emirate. Before buying real estate, it is recommended to carefully study the conditions and consult with experts.
📲If you want to learn more about purchasing real estate in the UAE, contact us for professional advice!