DUBAI: In a significant move, the Dubai Land Department (DLD) has opened freehold ownership options to private property owners along Sheikh Zayed Road and in Al Jaddaf.
The change affects 457 plots – 128 on Sheikh Zayed Road (from the Trade Centre Roundabout to the Water Canal) and 329 in Al Jaddaf – allowing ownership by all nationalities.
This initiative is part of Dubai’s efforts to bolster its real estate sector by increasing the market value of these properties and attracting long-term investments.
Dubai’s Real Estate Strategy 2033
Eng. Marwan Ahmed bin Ghalita, Director General of the DLD, emphasised the transformational impact of this decision. “This initiative aligns with Dubai’s Real Estate Strategy 2033, boosting the city’s appeal as a leading global investment hub,” he said.
The strategy targets a 70% increase in real estate transactions, raising the market's total value to Dh1 trillion and expanding real estate portfolios to Dh20 billion. By enabling freehold conversions, the DLD aims to create opportunities for landowners to capitalise on price shifts while fostering long-term investor confidence.
Steps for landowners
Eligible property owners can determine their status through the Dubai REST smart app. To proceed, they must apply to the DLD for land assessment and valuation. Service charges and common area fees will be calculated as per Real Estate Regulatory Authority (RERA) guidelines.
A conversion fee of 30% of the property’s valuation, based on Gross Floor Area, will be charged. Once payment is completed, a map and a freehold ownership title deed will be issued, providing landowners with full rights over their properties.
Boosting market appeal
Sheikh Zayed Road and Al Jaddaf are prime areas expected to see increased development tailored to freehold investors. This move is also anticipated to boost Dubai’s reputation as a dynamic real estate market, drawing new investment streams.
With comprehensive support from the DLD, the transition is set to be smooth and efficient, paving the way for a more robust property market in Dubai.