July 18, 2024

New Initiative taken by Dubai launched for opening up a property Investment Market

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The Real Investment opportunities initiative taken in Dubai intends to attract a more significant segment of the investors, both within and out of UAE.

The Dubai land department announced launching of the newer initiative under the Real Estate Investment Opportunities (REIOs) scheme, several investment products to be launched that also includes:

•    Collective Real Estate Investment Funds.

•    Partial title deed procedures for registering the units that are owned by several partners.

•    Lease to own systems

•    Investment portfolio applications

A law is being drafted for real estate investment portfolios that are still under accreditation and reviewed by the involved parties, DLD stated during a statement.

The launch comes as Dubai city witnessed an eight percent increase in real estate transactions throughout the first quarter of 2019 to AED119 billion compared to the previous year period.

DLD also added to the point that the number of active investors reached two thousand and eight hundred throughout the quarter with a “large range of recent investors” getting into the Dubai’s real estate marketplace for the first time.

Sultan Butti bin Mejren, director general of DLD, stated: “We are proud to launch a brand new investment package that enhances the attractiveness of Dubai’s realty setting, reaching a wider horizon of world leadership through that we are going to formulate new visions, particularly with Expo 2020 round the corner.”

“Unveiling REIOs reflects the positive impact of innovative ideas within the real estate sector.”

A unique workplace has been approved at DLD to facilitate and unify all registration and follow-up procedures for this initiative, he also added as a point during a statement.

DLD stated that it’d additionally approve a group of special privileges about realty registration and its terms, and a first electronic contact web site is going to be established.

Marwan bin Ghalita, chief operating officer of Real Estate Regulatory Agency (RERA), stated: “This initiative can facilitate UAE emerge from the standard patterns of property, shopping for, buying, selling, and registration. These processes need UAE to embrace technology and alter, each of that sealed the trail to launching realty product with the participation of developers to draw in new investors. “Previously, the real estate market targeted a specific category of investors – the rich class only. Today, however, through these four products, we tend to seek to cover a large segment of investors, each within and outside UAE, and permit them to have properties within the city and enjoy high returns on investments.”

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