Freehold on Course
Dubai Marina: Freehold? Yes>
Gulf News today (06-Jul-06) provides some indication that the new freehold law has finally come into affect with regard to the registration of titles and designation of freehold areas:
According to the source, the process of issuing title deeds in individual names is in fact under way with many residents bearing official documents declaring the land in their name.
...a decree identifying Dubai's freehold zones has been officially agreed by the Ruler's Office and is awaiting official publication.
What Areas Are Indicated?
The Gulf News article provides a map (.pdf) highlighting (without commentary) the following areas as freehold:
Dubai Marina | Dubai Waterfront | Palm, Jumeirah |
Palm, Jebel Ali | Palm, Deira | Greens |
Meadows | Springs | Discovery Gardens |
Jumeirah Golf Est. | Arabian Ranches | The Lagoons |
International City | Burj Dubai | Business Bay |
Omissions
Sheikh Zayed Road which has a large cluster of office and residential towers is not indicated, however, properties here have long been presumed to be leasehold or rental. Notably the Green Community, Dubailand, Jumeirah Lake Towers and Jumeirah Islands are not mentioned, among other communities commonly pitched as freehold.
Sheikh Zayed Road: Freehold? No>
These omissions, however, may not be significant, as Gulf News adds from statements made by Mohammad Sultan Thani, director of development and marketing administration at Dubai Land Department:
Developments built by major real estate companies such as Nakheel, Dubai Holding and Emaar will be included, and added, "We are not expecting any major omissions".
Despite more clarity some degree of uncertainity remains. The official release and publication of all relevant property laws and decrees remains overdue.
Go to DM Blog latest posts, Dubai Marina Communities or MAG 218 Community homepage.
1 Comments:
The Green Community was never marketed as freehold. Properties there are sold on a 90 year lease, and all GC investors were aware of this.
By Anonymous, at 21 July, 2006 20:16
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