Dubai's real estate market is expected to see a significant boost following the Dubai Land Department's decision to allow property owners in Sheikh Zayed Road and Al Jaddaf to convert their land to freehold status. This move, which affects 457 plots, is anticipated to attract new investment, drive property price growth, and position these areas as prime real estate hotspots. Experts highlight that the change will appeal to both commercial and residential investors, particularly in Al Jaddaf, where medium-sized commercial plots offer flexibility.While the conversion comes with a high fee of 30% of the property's valuation, it is expected to increase property values ​​and liquidity in these areas. The shift to freehold ownership will make properties accessible to a global market, enhancing their investment appeal. Industry leaders predict the move will stimulate long-term growth, bolster investor confidence, and contribute to Dubai's goal of expanding its real estate market under the Dubai Real Estate Strategy 2033. (ICE DUBAI)

Fonte notizia: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-market-set-for-major-boost-