Dubai has introduced a new initiative enabling private property owners of all nationalities in Sheikh Zayed Road and Al Jaddaf to upgrade their ownership to freehold status. This step aims to enhance the city’s reputation as a prime destination for real estate investment.
The Dubai Land Department announced that 457 plots are eligible for freehold conversion, including 128 plots on Sheikh Zayed Road, spanning from the Trade Centre roundabout to the Water Canal, and 329 plots in Al Jaddaf.
Freehold ownership grants investors complete ownership of both the property and the land it occupies.
“The initiative will provide significant benefits to landowners in these areas by increasing the market value of their properties, particularly for those choosing to convert to freehold ownership,” the department stated. “It will also boost the economic potential of these locations, supporting real estate developments targeted at freehold investors and attracting new investments to Sheikh Zayed Road and Al Jaddaf.”
This development is expected to stimulate “substantial growth” in Dubai’s property market, further solidifying the emirate’s status as a global economic hub and a “top destination” for real estate investment, according to Marwan Ahmed bin Ghalita, director general of the department.