Dubai Expands Freehold Ownership: A Game-Changer for Sheikh Zayed Road and Al Jaddaf
Introduction
Dubai’s real estate market has taken a groundbreaking step with the Dubai Land Department (DLD) announcing the conversion of private properties along Sheikh Zayed Road and Al Jaddaf into freehold ownership. This initiative allows all nationalities to own property in these prime locations, significantly boosting the sector.
457 Plots Now Eligible for Freehold Ownership
A total of 457 plots are now eligible for freehold ownership. Among them, 128 plots are on Sheikh Zayed Road, between the Trade Centre Roundabout and the Water Canal, while 329 plots are in Al Jaddaf. This strategic move enhances the appeal of these areas, attracting a broader range of investors.
Boosting Market Value and Investment Appeal
The freehold conversion will increase property values in these sought-after locations. By welcoming long-term investors, this decision drives real estate development tailored to freehold buyers. As a result, Dubai strengthens its position as a global economic and real estate hub.
Supporting Dubai’s Real Estate Strategy 2033
This initiative aligns with Dubai’s Real Estate Strategy 2033. The strategy aims to raise real estate transactions by 70%, grow the market value to AED 1 trillion, and expand real estate portfolios to AED 20 billion. By taking this step, Dubai reaffirms its commitment to innovation and investment-friendly policies.
Conclusion
By unlocking freehold ownership in Sheikh Zayed Road and Al Jaddaf, Dubai is setting the stage for remarkable growth in its real estate sector. This bold move reinforces the city’s reputation as a global leader in real estate and economic development.