JobXDubai

Dubai’s real estate landscape is transforming as property owners along Sheikh Zayed Road and Al Jaddaf receive permission to convert their properties to freehold ownership, according to the Dubai Land Department (DLD).

Who Can Apply?

The initiative welcomes property owners of all nationalities, covering:

• 128 plots along Sheikh Zayed Road (from Trade Centre Roundabout to Water Canal)
• 329 plots in Al Jaddaf
• Total of 457 eligible plots

Application Process Simplified

Property owners can follow these steps:

1. Check eligibility through the Dubai REST app
2. Submit application to DLD for property evaluation
3. Pay common area fees and service charges (as per RERA guidelines)
4. Pay conversion fee (30% of property valuation based on Gross Floor Area)
5. Receive new freehold ownership title deed and map

Financial Impact and Market Benefits

This strategic change brings substantial advantages:

• Enhanced property market value
• Greater investment flexibility
• Strengthened property rights

According to Eng. Marwan Ahmed bin Ghalita, DLD Director General, this initiative aligns with Dubai’s Real Estate Strategy 2033, positioning the emirate as a prime investment destination.

Understanding Property Rights: Freehold vs Leasehold

Freehold Ownership:

• Complete ownership of property and land
• Unrestricted rights to sell, lease, or occupy
• No time limitations on ownership

Leasehold Properties:

• Limited ownership period (maximum 99 years)
• No land ownership rights
• Written approval required for property modifications
• Generally lower initial purchase costs

Additional Property Sector Updates

Dubai has also introduced a smart rental index featuring:

• Building and area rent averages
• Property quality assessment system
• Maintenance evaluation
• Parking management ratings

Property owners can increase rental rates based on building ratings and improvements, supporting Dubai’s commitment to property maintenance standards.

For the latest updates on Dubai’s property sector developments, stay connected with JobXDubai.

Additional Reading Material

• Dubai Real Estate: AED13.55bn Weekly Deals Including AED78.6m Palm Sale
• Dubai Real Estate Tax Update: Land Department and FTA Collaborate on VAT Collection
• Dubai Real Estate Strategy 2033: Boosting Property Ownership and Transparency