Dubai is redefining its real estate landscape by offering property owners a chance to convert to freehold ownership in Dubai. This strategic initiative, led by the Dubai Land Department (DLD), applies to private properties along Sheikh Zayed Road (from the Trade Centre Roundabout to the Water Canal) and Al Jaddaf.
With over 457 plots eligible for conversion—128 on Sheikh Zayed Road and 329 in Al Jaddaf—this move aims to enhance property value, attract global investments, and bolster Dubai’s position as a global hub for real estate innovation.
What is Freehold Ownership?
Freehold ownership gives property owners full rights over their property and the land it occupies. Unlike leasehold ownership, which limits rights to a fixed term (usually up to 99 years), freehold ownership offers lifelong control. Owners can sell, lease, or modify their property without restrictions, making it a preferred choice for investors and homeowners alike.
For those considering whether to convert to freehold ownership in Dubai, this initiative ensures:
- Absolute ownership of property and land.
- Increased market value and appeal to buyers.
- Greater flexibility in leasing or selling properties.
Sheikh Zayed Road and Al Jaddaf: Key Locations
Sheikh Zayed Road
As one of Dubai’s most iconic locations, Sheikh Zayed Road boasts a mix of luxury apartments, commercial towers, and proximity to key business districts. Properties in this area are in high demand due to their prime location and unparalleled access to Dubai’s transport and lifestyle hubs.
Al Jaddaf
Nestled along Dubai Creek, Al Jaddaf offers a unique blend of heritage and modernity. This area is rapidly emerging as a sought-after location, with new developments and cultural landmarks making it an attractive option for investors and residents alike.
Steps to Convert to Freehold Ownership in Dubai
Property owners looking to convert to freehold ownership in Dubai can follow these steps:
- Check Eligibility via Dubai REST App
Use the Dubai REST app to determine if your property qualifies for conversion. - Submit an Application to DLD
Once eligibility is confirmed, submit your application for property evaluation and valuation. - Understand Fees and Charges
A conversion fee of 30% of the property’s valuation (based on Gross Floor Area) is applicable. Additionally, common area fees and service charges will be calculated according to RERA guidelines. - Complete the Payment
Upon payment of the required fees, the property will be issued a freehold ownership title deed, along with an updated property map.
This streamlined process ensures transparency and efficiency, reinforcing Dubai’s reputation for facilitating seamless real estate transactions.
Benefits of Freehold Ownership
Choosing to convert to freehold ownership in Dubai comes with several advantages, including:
- Enhanced Market Value: Freehold properties are highly attractive to buyers and investors, driving up their market value.
- Increased Rental Income: Freehold ownership often commands premium rental rates.
- Full Ownership Rights: Owners gain complete control over their property and land.
- Investment Flexibility: Freehold properties can be sold or leased without additional permissions.
Difference Between Leasehold and Freehold Ownership
Understanding the distinction between leasehold and freehold ownership is crucial:
| Aspect | Leasehold | Freehold |
|---|---|---|
| Ownership Rights | Limited to a fixed term (up to 99 years). | Absolute ownership of land and property. |
| Control | Requires landlord’s approval for modifications. | Full control over property use. |
| Market Value | Lower due to restrictions. | Higher due to ownership flexibility. |
| Investment Appeal | Limited appeal due to term restrictions. | Highly appealing to global investors. |
For property owners in Sheikh Zayed Road and Al Jaddaf, converting to freehold ownership offers unparalleled benefits that leasehold properties cannot match.
How the Dubai REST App Simplifies the Process
The Dubai REST app is a smart solution designed to streamline the freehold conversion process. Through this app, property owners can:
- Confirm eligibility for freehold conversion.
- Submit applications directly to the Dubai Land Department.
- Access property valuations and status updates.
This seamless digital experience highlights Dubai’s commitment to integrating technology into its real estate operations.
Boosting Dubai’s Real Estate Sector
The decision to allow property owners to convert to freehold ownership in Dubai is a game-changer for the city’s real estate market. According to Eng. Marwan Ahmed bin Ghalita, Director General of the DLD, this initiative is expected to:
- Increase real estate transactions by 70%.
- Boost the total market value to AED 1 trillion.
- Expand real estate portfolios to AED 20 billion.
By enhancing property value and attracting global investments, this initiative aligns with Dubai’s Real Estate Strategy 2033, positioning the city as a leader in sustainable urban development.
Why Convert to Freehold Ownership Now?
This initiative comes at a time when Dubai’s real estate market is experiencing a surge in growth and global interest. By converting to freehold ownership, property owners in Sheikh Zayed Road and Al Jaddaf can capitalize on:
- Increased Property Value: Freehold properties are in higher demand, especially among international investors.
- Long-Term Benefits: Freehold ownership secures property rights for generations to come.
- Prime Location Appeal: Properties in Sheikh Zayed Road and Al Jaddaf are among Dubai’s most desirable locations.
The opportunity to convert to freehold ownership in Dubai marks a transformative milestone for property owners along Sheikh Zayed Road and in Al Jaddaf. With enhanced property value, lifelong ownership rights, and seamless digital processes, this initiative offers unparalleled benefits for investors and homeowners alike.
Take advantage of this landmark program today and secure your place in Dubai’s thriving real estate market.
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