Dubai Opens Sheikh Zayed Road and Al Jaddaf Properties for Freehold Ownership
Wednesday, 22 January 2025
Dubai has announced a major policy shift allowing private property owners of all nationalities in the Sheikh Zayed Road and Al Jaddaf areas to convert their plots to freehold ownership. This initiative, covering 457 eligible plots, aims to enhance property market value, attract global investors, and bolster Dubai’s position as a premier real estate hub.
Key Points
- Freehold Ownership Conversion:
Owners of 457 plots—128 on Sheikh Zayed Road (Trade Centre to Dubai Canal) and 329 in Al Jaddaf—can now convert their properties to freehold status. - Boost in Property Value:
The move is expected to increase market value for properties in these areas, making them more appealing to investors and enhancing economic growth. - Global Investor Appeal:
Analysts believe this initiative will make Dubai a magnet for international investors, opening up prime areas for real estate development. - Economic and Real Estate Growth:
Officials project significant growth in Dubai’s real estate sector, strengthening its global status as a leading investment destination. - Eligibility and Process:
Property owners can check eligibility via the “Dubai REST” app. A 30% conversion fee based on property valuation applies, after which owners will receive a freehold title deed. - Market Impact:
The move aligns with Dubai’s 2033 strategy to double real estate contributions to GDP, increase homeownership rates, and grow real estate transactions by 70%. - Expert Insights:
Analysts predict strong buyer demand for Sheikh Zayed Road and Al Jaddaf plots due to their prime locations and enhanced investment opportunities.
