DLD Announces Conversion of Leasehold to Freehold Property
DLD Announces Conversion of Leasehold to Freehold Property on Sheikh Zayed Road and Al Jaddaf
The Dubai Land Department (DLD) actively pursues initiatives to enhance the economic attractiveness of the real estate sector for investors. In January 2025, a pivotal decision was made by DLD, enabling private property holders on Sheikh Zayed Road and Al Jaddaf to convert their properties to freehold status.
This initiative will not only enhance the value propositions for current property owners but also attract a greater influx of foreign real estate investors. How does this plan integrate with the DLD’s strategic objectives and solidify Dubai’s position as a premier real estate destination? Let’s delve deeper and explore the specifics.
Freehold Property Ownership: Sheikh Zayed Road & Al Jaddaf
Residing on Sheikh Zayed Road in Dubai offers unparalleled access to the city’s most celebrated landmarks, exclusive neighborhoods, and top-tier amenities. This prime location makes it a highly desirable place to live.
Freehold conversion is applicable to 457 plots. 128 of these plots are situated on Sheikh Zayed Road, and the remaining 329 are located in Al Jaddaf.
Leasehold properties offer ownership rights for a limited period, typically 99 years, while freehold properties provide complete ownership rights. Key distinctions exist between these two property types. Notably, foreign investors are generally permitted to own freehold land.
How to Converting SZR and Al Jaddaf Properties to Freehold Ownership
Landowners in Sheikh Zayed Road and Al Jaddaf can easily convert their land’s status. Utilize the Dubai REST application, a key real estate app in Dubai, to guide you through the process.
- Find out eligibility your property on Sheikh Zayed Road or Al Jaddaf can be converted from leasehold to freehold.
- Submit your application.
- Pay a fee of 30% of the land’s worth.
- Upon completion of the application review and processing, the property owner will be granted the title deed and a property map.
Benefits of converting leasehold to freehold
This initiative aligns with the overarching 2033 Real Estate Strategy. As the Dubai Land Department (DLD) expands its real estate development plans, Dubai is poised to emerge as a leading global destination for real estate investment. By extending freehold ownership rights, the city will attract a wider pool of international investors who can now directly own properties under their names.
The conversion of leasehold properties to freehold status, as initiated by the DLD in areas such as Sheikh Zayed Road, Al Jaddaf, and others, offers several advantages.
- Improving the real estate Market
- Facilitating the emergence of new real estate projects along Sheikh Zayed Road and in Al Jaddaf.
- Growing the economy through increased real estate transactions.
- Boosting property value over time through freehold ownership.
How Freehold Property Ownership Affects Property Prices
The Dubai Government has announced plans to expand freehold property ownership to additional neighborhoods. In the initial phase, Sheikh Zayed Road and Al Jaddaf will be designated as freehold zones, allowing for full land ownership. This policy change is anticipated to significantly increase property values and attract a greater number of foreign real estate investors.
Owning freehold property in these areas will provide the following advantages:
Freehold Properties Available on Sheikh Zayed Road
Residing on Sheikh Zayed Road provides access to a high-end lifestyle, situated near Dubai’s most exclusive neighborhoods. The road boasts a collection of the city’s premier hotels, restaurants, and cafes, alongside renowned shopping destinations.
Freehold status will be granted to 128 plots situated along Sheikh Zayed Road. This is expected to draw foreign investment and fuel further development in the area. This policy change will not only open up new possibilities but also substantially enhance property values in the region.
Al Jaddaf: Freehold Ownership Options
Al Jaddaf is an area experiencing significant growth, with numerous development and real estate projects currently underway. Prominent Dubai-based developers, such as Binghatti, are actively investing in this area. As a waterfront location, Al Jaddaf offers a diverse range of recreational opportunities for its residents.
Given these factors, property values are likely to increase. This presents a potential for investors to realize greater returns on their investments through rental income.
FAQs
How to Check if Property is Leasehold or Freehold?
To ascertain whether your property is leasehold or freehold, you may visit the DLD Service Centre or utilize the Dubai REST app developed by DLD.
How to Convert Leasehold Property to Freehold?
Converting leasehold property to freehold may require verifying property status and submitting necessary documents and fees.
What is the Cost to Convert Leasehold to Freehold?
The fee for converting leasehold property to freehold ownership in Dubai is 30% of the land’s value, payable to the Dubai Land Department.