Freehold locations in Dubai announced

Overseas property investors who are considering investing in Dubai have been informed of the areas in which they can purchase freehold properties.

Prime minister of the United Arab Emirates, Sheikh Mohammad bin Rashid Al Maktoum, has now issued an official order covering 23 areas and 45 plots of lands that can be purchased by overseas property investors.

These areas include Jebel Ali, the World Islands, Dubai Marina, Al Barsha, Emirates Hills and the Palm Island projects.

Overseas property investors did not have any access to Dubai before 2002, at which time the property sector was opened up to foreigners.

In March of this year a property registration law was passed which legalised the freehold ownership of land for non-Gulf countries in designated areas.

Investors in commonhold apartment blocks who purchase an overseas property in Dubai will soon have to adhere to new rules, as a law outlining the rights and obligations of investors regarding issues such as maintenance, utilities and services is expected before the end of the year.

Looking to invest in property in Dubai? Then keep up to date with the latest news and other information on <A href="http://www.homesgofast.com/dubai/">homesgofast.com.</A>

21/07/2006

Return to previous page...