New law allows non-UAE citizens to buy land in Dubai South

Land plots in Dubai World Central have been made available for non-UAE citizens to purchase after a decision was made on Monday by Dubai’s ruler HH Shaikh Mohammad Bin Rashid Al Maktoum on Monday.

“The decision grants non-UAE nationals the rights to absolute ownership, without a specific time frame, of lands and properties located in land plots number (205), (206) and (207) in the Dubai World Central area (521),” according to the Dubai Media Office.

Issued by HH Shaikh Mohammad, Decision No (8) of 2016 has approved three new plots in DWC for foreign ownership.

The new law will give foreigners the right to lease lands and properties in these plots for a period of no more than 99 years, said a statement.

The decision aims to support Dubai Aviation City’s objectives to cater to the continuous growth of the aviation sector in Dubai, and to further cement its position as an international hub for aviation and logistics services.

The decision also aims to attract further investments to the City, and provide an investment-friendly environment.

Dubai World Central is part of Dubai’s greater strategy for Expo 2020 and beyond to create a mini-city within the bounds of Dubai South.

Source