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Dubai Land Department: new initiative for investments
There is a new initiative announced by the Dubai Land Department Registration and Service Sector, aimed to attracting new investment in real estate sector. The goal is to attract new investors into hotel or serviced apartment projects in Dubai.
The Dubai Land Department is set to implement a “fractional title deed” concept, A fractional title deed refers to the division of the same unit into two or four fractional shares, each having its own title deed that may be sold, mortgaged, or transferred as would any other property.
Now the he initiative is in its pilot phase for one project, and we look forward to have more projects like these following the initiative’s full implementation,” a DLD spokesperson said.
The number of smaller investors in Dubai is growing up, and a fractional offer give them the opportunity to become co-owners of properties by only investing a portion of the value. This reduces the financial cost on investors entering the real estate market by granting them flexibility to invest within their budgets. This investment will be affordable for all types of investors. As per the DLD’s laws and guidelines of property registration, a fractional title deed may be registered under anyone’s name.
Industry stakeholders said the UAE implemented a robust strategy to manage the pandemic with the key priority being to safeguard the health and wellbeing of citizens, residents and visitors, who started arriving from July 7, a development that will boost the tourism sector’s road to recovery and increase the occupancy of hotel apartments.
Joint ownership of hotel apartments is an amazing concept for Dubai as it is one of most visited cities in the world and that’s the reason it is working very well here. Mainly, local and international investors are always grabbing these opportunities as this concept offers amazing benefits ,which include high-quality finishes, high rental return on investment, expected capital appreciation and carefree property management from the developer.
Joint ownership in the hospitality sector will also allow investors with smaller budgets to earn high returns, and brokers will be able to market high-end locations to a much larger audience. This is a big opportunity for Dubai, and can be the way to be amongst the first cities to bounce back post-Covid.
Patrizia Marin is journalist and chairman of Marco Polo Experience, a leading agency specialising in strategic communications, public affairs, marketing and media relations, with twenty years of experience in business internationalisation strategies, communication campaigns, media relations, mapping of the decision makers and community of interests’ relations.
Patrizia has been advisor to the Italian Presidency of the Council of Ministers for Communication, Publishing and Information. As regards the logistics and infrastructure sectors, she has been Head of Communications for the Venice Port Authority; Media Relations Consultant for Aeroporti di Roma; International pr advisor for Atlantia while Vice-President at FBC.
Patrizia is Contract Professor in Leadership and International Relations at the IULM University of Milan and has a degree in Law and International Political Science.