Dubai allows property owners on Sheikh Zayed Road and Al Jaddaf to convert to freehold

Dubai: In a landmark initiative, the Dubai Land Department (DLD) has announced that private property owners along Sheikh Zayed Road (from the Trade Centre Roundabout to the Water Canal) and in Al Jaddaf can now convert their ownership status to freehold, making the properties available for ownership by all nationalities.

A total of 457 plots are eligible for this conversion, with 128 plots along Sheikh Zayed Road and 329 plots in Al Jaddaf.

This move is designed to enhance the market value of properties in these prime areas, benefiting landowners by increasing the appeal of their assets. The conversion is expected to attract new investments, fueling real estate development tailored to freehold investors, and strengthening the economic profile of both Sheikh Zayed Road and Al Jaddaf.

Major Boost to Dubai’s Real Estate Sector

Eng. Marwan Ahmed bin Ghalita, Director General of the DLD, highlighted that this initiative is a key driver of growth for Dubai’s real estate sector, reinforcing the city’s status as a global economic hub and a leading destination for real estate investment. It aligns with Dubai’s Real Estate Strategy 2033, which aims to increase real estate transactions by 70%, raise the total value of the market to Dh1 trillion, and expand the value of real estate portfolios to Dh20 billion.

"The conversion initiative will significantly enhance the market value of properties in these areas and contribute to the growth of the real estate sector," said bin Ghalita. "It will also make these locations more attractive to long-term investors, reinforcing Dubai's position as a dynamic and investment-friendly market."

Steps for property owners

To determine eligibility for conversion, property owners can use the Dubai REST smart app. Following this, owners must submit an application to the DLD for land assessment and valuation. Common area fees and service charges will be set in accordance with Real Estate Regulatory Authority guidelines. A conversion fee of 30% of the property’s valuation, based on the Gross Floor Area, will apply. After payment is processed, the property will receive a freehold ownership title deed, along with a map showing the updated property status.

Dubai’s real estate strategy 2033

Dubai's Real Estate Strategy 2033 sets ambitious targets to enhance the sector. These include increasing real estate transactions, boosting the total market value, and fostering an environment conducive to long-term growth. The DLD's commitment to providing comprehensive support ensures a smooth transition for property owners in this new phase of growth.