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 precise to own, use, and switch the property with out restriction, much like possession fashions frequent in lots of Western international locations. As an example, an condominium bought outright in a chosen space grants the customer full management over that unit.
Such a possession construction has performed an important position in attracting international funding and bolstering the true property market. It presents better safety and stability to buyers, fostering long-term dedication and contributing to the general financial progress 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.
