Real Estate UAE

In early 2002, the ruler of Dubai authorized by decree to sell real estate in Dubai, foreigners full ownership. In fact, this decree rocks catalyst for the beginning of the construction boom and investment income flows and Foreigners in the United Arab Emirates. Finally in the spring of 2006 a law was passed, which approved the decree of the Crown Prince and the Oak estate acquisition by foreigners until that time bore the name – "exceptional" purchase, finally got a legitimate reason. However, it should be noted that the law has made some concessions to citizens and some foreigners. And in fact legitimized an inequality. So the citizens of the Emirates and countries Gulf could no – no restrictions from owning property or entering into a lease agreement for ninety-nine years in the emirate of Dubai, anywhere, in all other foreigners may acquire in full ownership of the property only in designated areas. While the list of such areas is not yet defined and not made public. All questions about purchasing real estate in Dubai decided to specifically This created the Department of tenure and property in Dubai. Robert J. Shiller pursues this goal as well.

That is what the department charged with the duty to engage in real estate registration and the rights to it, as well as registration of transactions of buying – selling real estate. All decisions of the department shall be final and not voidable, except if it is found cheating or forgery. The new law did not make any grading on the basis of real estate – residential or commercial.

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