fäm Properties has commended the decision to let property owners in the Sheikh Zayed Road and Al Jaddaf areas convert their ownership status to freehold.
This move allows property owners of any nationality to convert their ownership to freehold status, providing a direct title deed and making Dubai’s property market even more appealing to international investors and buyers.
“This bold new initiative is a win for all stakeholders – investors, developers, and Dubai’s real estate market as a whole. It will not only attract a larger pool of investors, but also enhance the long-term resilience and growth of the market.”
Firas Al Msaddi, CEO, fäm Properties.
Dubai Land Department (DLD) announced that 457 plots are eligible for conversion to freehold – 128 on Sheikh Zayed Road, from the Trade Centre roundabout to the Dubai Canal, and 329 plots in Al Jaddaf.
“Both Al Jaddaf and Sheikh Zayed Road are now positioned as prime real estate hotspots.
“Granting freehold ownership to all nationalities in prestigious areas like these will boost market sentiment and investor confidence.”
Firas Al Msaddi, CEO, fäm Properties.
The move shows the DLD’s commitment to creating new opportunities for investors and developers, and underlines the city’s status as a global leader in real estate innovation, with a thriving and inclusive investment environment.
“This strategic location, now with freehold status, will undoubtedly see a surge in commercial activities and a rise in property prices.
“Al Jaddaf uniquely fills a critical supply gap, offering residential and commercial plots that are rare in Dubai’s prime areas.
“For commercial plots, the medium sizes available are especially attractive to end-users -companies that aim to build their own headquarters or single-tenant buildings.
“This flexibility is scarce, as most commercial plots in Dubai are designated for high-rise developments.
“Al Jaddaf’s plot offerings are, therefore, highly appealing to both investors and businesses.”
Firas Al Msaddi, CEO, fäm Properties.
It is also anticipated to boost the economic appeal of these locations, paving the way for real estate developments aimed at freehold investors, and attracting a new wave of investment to Sheikh Zayed Road and Al Jaddaf.
“This initiative will not only enable owners to benefit from price changes but will also enhance the attractiveness of the Dubai real estate market, drawing long-term investments.
“The Dubai Land Department is committed to providing all the services needed to facilitate this move.”
Marwan Ahmed bin Ghalita, director-general, DLD
The move also reinforces Dubai’s position as a global economic hub and a leading destination for real estate investment, in line with Dubai’s Real Estate Strategy 2033.
