Most Dubai real estate consultants commend the new real estate laws as perfect for instilling investor confidence. An innovative move, investors seeking to buy properties in Dubai view these laws as beneficial as they allow them to accept residency visas from developers at the point of sale itself.
The MEREC Research Team is part of this growing consensus. They stated:
"Nobody approaches a real estate company in the U.A.E. without thinking twice about the paperwork and the legalities involved. With the introduction of these laws, our real estate company in Dubai along with a host of others hopes to see more individuals going in for a Dubai property investment without any fears."
Nonetheless, this is just the beginning of the wave of change being unleashed into the U.A.E. property market. One of the laws states that upon approval from the ruler, expats and foreign investors too can enjoy the right to own Dubai freehold properties in select parts of the Emirate.
A property court to solve real estate problems and a database of official real estate transactions with the Land Department are additional steps that will add value to the U.A.E. property market in Dubai. All these measures render future Dubai real estate investments with an unusual amount of transparency, much to the assurance of the investor.
Posted by Nadeen El Ajou
