If you are familiar with the specifics of real estate sales in Dubai, you must know that emirate’s authorities have chosen the selective politics concerning the expatriates wright to settle in and to buy property in Dubai. However, Dubai is eager to meet its new population’s demands, thus more and more areas become available for the other countries’ citizens to buy property in. Moreover, buying property gives an advantage of getting a resident visa in the UAE.
However, buying land (not ready property units), and building on it has been quite difficult for expats in terms of getting all necessary permits until now. The news came that Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a resolution granting expatriates the wright to buy land in the Dubai World Central district (DWC). Land plots with numbers 205, 206 and 207 will be offered for sale. But, differently this time, there are absolutely no restrictions for land plot buyers: the land is sold in full ownership, with a hereditary right and no time frame for use. Also land plot owners will be able to lease property on these plots for up to 99 years.
Experts believe, Dubai authorities made a major step to attract investors in Dubai through issuing this resolution, and the scale is also quite impressive. It was made, firstly, to attract investors for the Aviation City development and to create a favorable investment environment in the region. However, over time, like DWC itself, Aviation City will certainly become something more than just an aviation-related settlement.
“It seeks to promote Dubai as a destination of choice for event organizers in aviation-related sectors,” said a statement by state news agency WAM. “The decision also aims to attract further investments to the City, and provide an investment-friendly environment.”
But in case you are not quite fond of the view of planes taking off, you can easily become a real developer yourself having bought a land plot in other areas of Dubai. You can build your own dream house, a villa or a townhouse for the whole family in Al Manara-Jumeirah, a villa for yourself and for lease in Al-Furjan, or a whole mix-use four-storeyed complex at a freehold site in Meydan area. Prices for land plots in these areas can range from USD 400,000 up to USD 4 million, depending on a plot size, location and property use purpose. Investment opportunities in Dubai real estate are unlimited, and these were only a small part of them.