Wknd. KTBuzzon Inspired Living Indulge City Times KT Mobile KT ePaper KT Competitions Subscribe KT
Khaleej Times
Khaleej Times Google Plus Page Khaleej Times Facebook Page Khaleej Times Twitter Page Khaleej Times RSS Feeds
   
  UAE Sports
  Cricket
  Football
  Horse Racing
  Tennis
  Sports Talk
   
   
  wknd.
  Indulge
  Inspired Living
   
   
  Classifieds
  Properties
  Used Cars
   
Home > Business Nation
 
New areas in Dubai where expats can own property

(Wam) / 22 June 2012

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued Regulation No. 2 of 2012 to add some land to areas where non-UAE nationals may own real estate properties in the emirate of Dubai.

According to the regulation issued by Shaikh Mohammed in his capacity as the Ruler of Dubai and, after perusal of Law No. 7 of 2006 regarding real estate registration in the Emirate and Regulation No. 3 of 2006 specifying the areas where non-UAE nationals may own real estate properties in Dubai and its amendments, non-citizens are allowed to acquire the usufruct right (life interest) for a period not exceeding 85 years for property located on piece of land No. 1 in Dubai Investments Park 1 and piece of land No. 1 in Dubai Investments Park 2 whose borders and area are set in maps attached to the regulation.

This regulation shall come into force as of the date of issuance and shall be published in the Official Gazette.

 

 

For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes, and on Twitter at @khaleejtimes

Comments
comments powered by Disqus