Dubai Land Department Allows Private Property Owners on Sheikh Zayed Road & Al Jaddaf to Convert to Freehold Ownership

Post by: Raman Preet

Photo : Dubai Government Media Office

The Dubai Land Department (DLD) has announced a new plan for private property owners in the Sheikh Zayed Road area (from the Trade Centre Roundabout to the Water Canal) and the Al Jaddaf area. These owners can now change their property ownership status to freehold, which means they can own their land for an unlimited time. This change will apply to people of all nationalities.

A total of 457 plots are eligible for the conversion. This includes 128 plots along Sheikh Zayed Road and 329 plots in Al Jaddaf. This initiative is a big step forward for the property owners as it will increase the market value of their properties. Owners who choose to convert their land to freehold will see their properties become more valuable. The move is also expected to bring more real estate development to these areas, as it will attract investors who are looking for freehold properties. This will help make Sheikh Zayed Road and Al Jaddaf more attractive to investors, which will boost the economy.

His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of the Dubai Land Department, said that allowing property owners in these areas to change their ownership to freehold will lead to great growth in Dubai's real estate sector. It will also strengthen Dubai’s status as a global financial center and a top place for real estate investment. This move supports the goals of Dubai’s Real Estate Strategy 2033.

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He added that this initiative will allow property owners to take advantage of price increases, making the real estate market in Dubai even more appealing. It is expected to bring in long-term investments. The Dubai Land Department is ready to offer all the necessary services to help with this process.

Property owners who want to check if they are eligible for the conversion can use the Dubai REST app. If they qualify, they will need to apply to the Dubai Land Department for a property assessment and valuation. Fees for common areas and services will be decided based on the Real Estate Regulatory Authority’s rules. After that, there will be a conversion fee of 30% of the property's value, which is based on the Gross Floor Area. Once the payment is made, property owners will receive a map and a freehold ownership title deed for their property.

Dubai's Real Estate Strategy 2033 has ambitious goals. These include increasing real estate transactions by 70%, raising the total value of Dubai’s real estate market to AED1 trillion, and growing the value of Dubai’s real estate portfolios to AED20 billion.

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