Ever since the inception of the UAE, Dubai has been predicted to have a great future.
It was to become one of the most desirable cities in the world and a powerful magnet for businessmen and foreigners in general. Due to many characteristics, particularly its location, Dubai serves in modern times as a singular gateway between the East and the West. More than 200 different nationalities now call this thriving metropolis home, thanks to the emirate’s rulers’ skillful development strategies.
Today, to purchase houses in Dubai is something more than just the acquisition of buy-to-live real estate, it is a full-fledged investment in the future. The metropolis has drawn foreign talent from all fields and industries since the introduction of Freehold Zones. It has grown significantly during the past two decades.
What are Freehold Zones
Previously, foreigners were not able to purchase any property for sale in Dubai until the local government adopted a real estate law in 2002. Allowing foreigners to freely purchase and own real estate in the emirate was a ground-breaking decision. Since that time, Dubai has developed into a hub for international investment. The local real estate market experienced a new uptick in the years that followed as a result of major construction and the commissioning of new units developed in freehold zones.
Freehold Zones have been formed in this city in accordance with Law No. 7 of 2006 regarding Real Property Registration in the Emirate of Dubai. According to Article No. 4 of this law, non-UAE citizens are permitted to purchase apartments in these parts of the emirate and register their ownership with the Dubai Land Department (DLD).
The pros of owning a home in Dubai
A unit acquired on the territory of the freehold zone belongs to you and only you. Freehold real estate owners can dispose of the property as they wish: to make any renovation, to resell, to gift, or to bequeath.
Real estate in Dubai gives you maximum freedom in the same way it can be in your country. You are free to do whatever you want according to the law, within the limits of your property, having nobody at all to answer to. This type of property offers the following additional advantages to a foreigner:
- Freehold properties continue to stay with the family for as long as they wish to keep them. The unit is passed on to the owner’s heirs and future generations;
- Owners can use, sell, or rent it out as they wish;
- Owners and their families are eligible to receive the renewable UAE visa if the required criteria are met. Owners of freehold real estate also have a chance to get a long-term 5-year or 10-year visa.
There are many options available to people intending to get a home in this city. There are many areas with exclusive freehold options suitable for many different expectations, preferences, and budgets of different buyers.
The most sought-after freehold zones
The local real estate market is a magnet for global investors with a top-notch combination of best-in-class infrastructure, a secure environment, and a broad range of premium amenities. With the expansion of freehold land ownership, expats residing here and overseas investors are actively looking for appropriate freehold options for sale. Below are the most popular freehold areas in Dubai worth keeping an eye on if you are intending to buy a home in Dubai.
This is one of the first districts that comes to mind when thinking about freehold zones. This lively area is considered to be an oasis of business and commerce. The community offers different apartments available for purchase with traditional money and cryptocurrency. It features a combination of residential towers and commercial complexes. DAMAC Prive, DAMAC Avanti, Merano Tower, and other stylish apartments and multinational offices can be found in Business Bay. New freehold properties are under construction in Business Bay at a brisk pace.
One of the freehold zones with the quickest growth and the most off-plan projects is Dubailand. Freehold apartments and villas are being constructed in the area by numerous reputable developers. The area will also include theme parks, recreation areas, commercial shops, and more. Given the large variety of properties available, it makes for the ideal choice for real estate investors, regardless of their budget. The community is home to one-of-a-kind elite places like Trump International Golf Club in DAMAC Hills and other prosperous lifestyle communities.
Downtown Dubai is well-known for its iconic landmarks such as the Burj Khalifa and the Dubai Mall. It is a chic community with premium apartments for sale surrounding important infrastructure and tourist attractions. This is where you can fully enjoy the upscale metropolitan lifestyle.
It is situated in Downtown Dubai on Sheikh Zayed Road. Barsha Heights is a popular freehold zone in the city. Once known as TECOM, Barsha Heights features spacious offices, mid-class hotels, and residential apartments. This area is well-designed. It has everything you need for a fulfilling life and work, including shopping malls, recreation centers, and medical facilities.
International Financial Center (DIFC)
The Dubai International Financial Center, also known as DIFC, is a prestigious mixed-use neighbourhood close to the city core. There are many apartments for sale in high-rise housing estates at DIFC, a prominent corporate and financial hub in the Middle East. Sheikh Zayed Road is not far from this location. There are multiple supermarkets, restaurants, and art galleries, as well as numerous locations for leisure and recreation.
This area is known to the general masses for its breathtaking views and artistic scenery. Dubai Marina is one of the most popular destinations. This fashionable place includes beaches, a picturesque water canal, restaurants, cafes, shopping malls, etc. The true nature of urban Dubai can be found here. Investors have many properties for sale to choose from.
Jumeirah Beach Residence
Jumeirah Beach Residence, also known as JBR, is a housing and commercial project consisting of six clusters with 40 high-rise towers. JBR residents enjoy magnificent views of the Persian Gulf, Green Courtyards, and the marina. Investors are often looking for available property options in the area because there is a wide range of housing types. Some houses have direct access to the beach.
Jumeirah Lake Towers
The JLT, or Jumeirah Lake Towers, are situated across four artificial lakes. It has 26 clusters, each named starting with A through Z. JLT is one of the best locations for real estate investors, providing a wide range of chic apartments in 79 towers.
Jumeirah Village Circle
One of the most talked-about communities for premium real estate is Jumeirah Village Circle. Home buyers looking to invest in real estate near markets, parks, schools, and medical facilities are drawn to Jumeirah Village. A traditional mix of townhouses, apartments, and villas are available to guests and locals.
The AX Capital website offers more opportunities for premium real estate investments in Dubai.