The 83,600 KMs of UAE Land holds promising real estate and ownership opportunities for many investors and property owners in Dubai. However, the regulations for owning land and property in Dubai have been strictly enforced on its citizens. This article clearly states the principles Dubai Land Department (DLD) has made clear. On 13 March 2006, the Government of Dubai issued Law No. 7 of 2006 which was centered around Property Ownership Law in the Emirate of Dubai. The Article 4 of the policy includes:
- Foreign offshore companies and Freezone companies are currently not permitted to directly own real estate in certain areas. However, the companies that already owned property before this regulation can maintain their ownership, and are able to perform various real property dispositions (e.g. sale, mortgage, lease, gift, etc.), but will not be able to make further property acquisitions.
- Foreign onshore companies are also currently not permitted to directly own real estate in the Designated Areas. However, a foreign company can establish a company in the JAFZA or such other free zone approved by the DLD from time to time, and can register the real estate it intends to acquire in the name of the Dubai free zone company established.
- Companies incorporated in the DIFC are now permitted to directly own real estate outside the DIFC free zone within the Designated Areas.
- Foreign trusts or funds (offshore or onshore) are currently not permitted to own real estate in the Emirate of Dubai.
- UAE/GCC nationals and onshore companies wholly owned by them, can purchase real estate directly in their individual capacity in the Emirate of Dubai.
- Non UAE/GCC nationals can purchase real estate directly in their individual capacity in the designated Areas.
- Non UAE/GCC nationals and/or companies can incorporate a free zone company in Dubai such as the JAFZA and other free zones approved by DLD to register the real estate it intends to acquire within the designated Areas only in the name of the Dubai free zone company so established.
Designated Areas available for ownership include;
1. The Palm Jumeirah
2. The World Islands
3. Downtown Dubai
4. Old Town
5. Burj Khalifa
6. Business Bay
7. Dubai Marina
8. Emirates Hills
9. Jumeirah Lakes Towers
10. Jumeirah Beach Residence (JBR)
11. Discovery Gardens
12. Arabian Ranches
13. Midriff (specified plots)
14. Dubai Investment Park
15. Falcon City
16. Dubai Sports City
17. Dubai Motor City
18. International City
19. Jumeirah Islands & Jumeirah Village
20. Business Bay
21. Dubailand
22. Barsha Heights
23. Dubai International Financial Center
24. DAMAC Hills
25. DAMAC Hills 2
26. DAMAC Lagoons
27. Al Barari
28. Dubai Production City
29. Dubai Studio City
30. Dubai Festival City
31. International City
32. Discovery Gardens
33. Culture Village
34. Meydan City
35. Dubai Silicon Oasis
36. Dubai South
37. Arjan
38. Bluewaters
39. M. Bin Rashid City
40. Mudon
41. Umm Suqeim
