Possession of land and the constructed constructions upon it, in perpetuity, represents a major departure from conventional land possession constructions within the Emirate. This type of possession grants people and organizations the correct to own, use, and switch the property with out restriction, just like possession fashions frequent in lots of Western international locations. For example, an condominium bought outright in a chosen space grants the customer full management over that unit.
This sort of possession construction has performed an important function in attracting overseas funding and bolstering the true property market. It gives higher safety and stability to traders, fostering long-term dedication and contributing to the general financial development of the area. Initially launched in designated areas, this type of possession has expanded strategically over time, reflecting Dubai’s evolving strategy to land possession and financial growth.
