Ownership of land and the built structures upon it, in perpetuity, represents a significant departure from traditional land ownership structures in the Emirate. This form of ownership grants individuals and organizations the right to possess, use, and transfer the property without restriction, similar to ownership models common in many Western countries. For instance, an apartment purchased outright in a designated area grants the buyer complete control over that unit.
This type of ownership structure has played a vital role in attracting foreign investment and bolstering the real estate market. It offers greater security and stability to investors, fostering long-term commitment and contributing to the overall economic growth of the region. Initially introduced in designated areas, this form of ownership has expanded strategically over time, reflecting Dubai’s evolving approach to land ownership and economic development.
