Law No.7 of 2006 stipulates that freehold is available to UAE and GCC citizens and companies wholly owned by them, as well as public shareholding companies. In addition, the law also stipulates that non-UAE nationals may also be given the right to own properties in designated parts of Dubai. Expatriates have the right to acquire Dubai freehold properties or by way of a 99-year renewable lease.

One of the main benefits for buyers from this new law is that financial institutions can use properties in Dubai as collateral with respect to home mortgages.

The Dubai Freehold Property law does not distinguish between residential and commercial property.

This new legislation opens up the market to expatriate buyers and makes investing in property in Dubai attractive and secure.

If you would like to know more about the new law surrounding Freehold Property in Dubai – please read the full extract of the Dubai Freehold Property Law