A total of 457 plots are eligible for the conversion, comprising 128 plots along Sheikh Zayed Road and 329 plots in Al Jaddaf in Dubai
Private Property Owners in Sheikh Zayed Road and Al Jaddaf Areas Can Now Convert to Freehold Ownership
The Dubai Land Department (DLD) has announced that property owners in specific areas of Sheikh Zayed Road, spanning from the Trade Centre Roundabout to the Water Canal, as well as in Al Jaddaf, can now change their ownership status to freehold. This opportunity is open to all nationalities.
A total of 457 plots are eligible for this conversion initiative, including 128 plots along Sheikh Zayed Road and 329 plots in Al Jaddaf.
This development is anticipated to significantly boost the market value of these properties, while also attracting a wave of new investments focused on freehold ownership.
Dubai Property Owners Gain Opportunity for Freehold Ownership
According to His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of the Dubai Land Department, allowing private property owners in these designated areas to transition to freehold ownership is a key step toward accelerating growth in Dubai’s real estate sector.
In a statement from the Dubai Media Office (DMO), bin Ghalita emphasized that this initiative supports Dubai’s status as a leading global hub for economic activity and real estate investment. It aligns with the city’s Real Estate Strategy 2033, designed to foster long-term growth in the sector.
“The initiative enables property owners to capitalize on market price fluctuations, further enhancing the attractiveness of Dubai’s real estate landscape and encouraging sustained investments,” he explained. The DLD has also committed to providing comprehensive services to ensure a smooth transition for eligible property owners.
How Property Owners Can Apply for Freehold Conversion
Property owners can determine their eligibility through the Dubai REST smart app. If eligible, they must submit an application to the DLD, after which their property will undergo assessment and valuation.
The conversion process requires payment of a fee, which amounts to 30 percent of the property’s valuation based on Gross Floor Area. Once the payment is completed, owners will receive a map and a freehold ownership title deed. Additional costs, including common area fees and service charges, will follow guidelines established by the Real Estate Regulatory Authority.
Dubai’s Real Estate Vision for 2033
This initiative aligns with Dubai’s ambitious Real Estate Strategy 2033, which seeks to increase real estate transactions by 70 percent, elevate the total market value of Dubai’s real estate to AED1 trillion, and grow the city’s real estate portfolios to AED20 billion.
