This new initiative is designed to benefit landowners in Sheikh Zayed Road and Al Jaddaf by boosting the market value of their properties. A total of 457 plots are now eligible for conversion to freehold ownership. Marwan Ahmed bin Ghalita emphasized that this strategic move will strengthen Dubai’s status as a global economic hub, attract more real estate investment, and further fuel the growth of the sector.
The Dubai Land Department (DLD) has announced that private property owners in the Sheikh Zayed Road area (from the Trade Centre Roundabout to the Water Canal) and Al Jaddaf can now convert their properties to freehold ownership, available to all nationalities. This initiative encompasses 457 eligible plots: 128 along Sheikh Zayed Road and 329 in Al Jaddaf.
The move aims to enhance the market value of properties in these prime locations, particularly for those opting to convert to freehold ownership. It is expected to increase the economic appeal of these areas, paving the way for real estate developments catering to freehold investors and attracting fresh investment into both Sheikh Zayed Road and Al Jaddaf.
His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of DLD, emphasized that this initiative will contribute to significant growth in Dubai’s real estate sector and strengthen the city’s position as a global economic hub. The conversion process aligns with Dubai’s Real Estate Strategy 2033, supporting the growth of long-term investments and enhancing the overall market attractiveness.
Property owners can check their eligibility for conversion through the Dubai REST smart app. To proceed, owners must submit an application for land assessment and valuation. Conversion involves a fee of 30% of the property’s valuation (based on Gross Floor Area), and once processed, a freehold ownership title deed and map will be issued.
The Dubai Real Estate Strategy 2033 aims to elevate Dubai’s real estate market, targeting a 70% increase in transactions, reaching AED1 trillion in market value, and expanding the value of real estate portfolios to AED20 billion
