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DUBAI FREEHOLD MOVE

New plots allocated for foreigners to buy in DWC

DUBAi, June 21, 2016

The UAE emirate of Dubai has made available new plots of land in Dubai World Central for foreigners to purchase under a decision by HH Shaikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai.

The Resolution No (8) of 2016, adds new land plots to the freehold area in Dubai World Central available for non-UAE nationals in Dubai, said a Wam report.

The decision grants non-UAE nationals the rights to absolute ownership, without a specific time frame, of lands and properties located in land plot numberd 205, 206 and 207 in the Dubai World Central area (521).

The borders and area mentioned in the decision are clearly marked in the maps annexed to the decision. It also gives owners the right to benefit from and lease lands and properties in these plots for a period not exceeding 99 years, the report said.

The decision aims to support Dubai Aviation City’s objectives to cater to the continuous growth of the aviation sector in Dubai, and to further cement its position as an international hub for aviation and logistics services. Furthermore, it seeks to promote Dubai as a destination of choice for event organisers in aviation-related sectors. The decision also aims to attract further investments to the City, and provide an investment-friendly environment, it said.

All the actions taken by Dubai Aviation City in these land plots prior to the issuance of this decision are valid. The decision is effective from the date of issuance and shall be published in the official gazette, the notification added.
 




Tags: Dubai | DWC | freehold |

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