In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has issued a new decree amending some articles related to the grant of title to allotted industrial and commercial lands in the emirate of Dubai.
According to the amendments, ‘allotted land’ is defined as land plots allocated for industrial or commercial use whose usufruct right is awarded to UAE nationals, including land subject to an order of disposition and allotted land transferred to third parties by way of succession, assignment, donation, or in return for consideration. ‘Beneficiary’ is defined as a UAE national to whom land is allotted.
The new text of the decree permits granting the allotted land to the beneficiary at his request on a freehold basis and without any restriction on its use, exploitation, or disposition, provided the allotted land includes the real estate project – either completed or under construction – in accordance with the rules and regulations of the Dubai Land Department.
The amended decree comes into effect from the date of its publication in the Official Gazette.
