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

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.”