Dubai’s ultra-luxury real estate market continues to captivate global investors, cementing its reputation as a hub for exclusive living experiences. Among the key players, OMNIYAT Properties has emerged as a dominant force, achieving remarkable sales milestones across iconic locations such as Palm Jumeirah, Business Bay, and Downtown Dubai.
This initiative is expected to significantly enhance the market value of eligible properties, particularly for those converting to freehold ownership. By empowering property owners in these prime locations, Dubai continues to solidify its position as a global economic hub and a premier destination for real estate investment.
Director General of the DLD, Eng. Marwan Ahmed bin Ghalita, emphasized that the move aligns with Dubai’s Real Estate Strategy 2033, driving growth in the sector and boosting investor confidence.
Understanding the difference between leasehold and freehold ownership is crucial:
While leasehold properties may have a lower upfront cost, freehold properties offer greater flexibility and long-term value.
This freehold initiative follows Dubai’s unveiling of a smart rental index, which provides transparency in rental markets through features like star ratings for buildings and average rent data. By introducing tools and policies that empower property owners and tenants, Dubai continues to elevate its real estate landscape.
With programs like these, Dubai reaffirms its commitment to fostering innovation, sustainability, and growth within its property market, paving the way for an even more dynamic future.
Converting leasehold properties to freehold ownership in Sheikh Zayed Road and Al Jaddaf offers property owners an unparalleled opportunity to maximize the value of their investments. As Dubai strengthens its position as a real estate powerhouse, initiatives like this ensure that its property market remains competitive and investor-friendly.
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