Dubai offers partial ownership of real estate apartments

UAE

The Dubai Land Department is slated to implement the concept of partial ownership of real estate across the emirate in an attempt to attract small investors to the hotel apartments sector, The new initiative, recently announced by the registration and services sector in the Land and Drought Management, aims to attract investment in hotel projects or hotel apartments in Dubai, which is one of the best cities for tourism and lifestyle.
The partial ownership of real estate deed of the apartments indicates that the unit itself is divided into two or four fractions, each of which has its own title deed that can be sold, mortgaged or transferred like any other property.

Keeping pace with the growing number of investors in Dubai, especially smaller ones, the partial contract provides them with the opportunity to become real estate ownership partners by investing only a portion of the value. This reduces the financial cost for investors entering the real estate market by adding the spokesman, “giving them the flexibility to invest within their budgets.”

According to the laws of the Dubai Land Department and the guidelines for property registration, a partial title can be registered under the name of anyone.”

Dubai’s hospitality sector is among the main drivers of income, as tourism attracts huge business to the nation. Hospitality, which also includes prominent players such as Emaar, Damac, and Nakheel, is currently adapting various strategies to stay competitive.

Industry stakeholders said that the UAE has implemented a robust epidemic management strategy with the primary priority to protect the health and well-being of citizens, residents, and visitors, who started arriving from July 7, a development that will boost the tourism sector’s path to recovery and increase the occupancy of hotel apartments.

He added: “Dubai has always been at the forefront of innovation thanks to the leadership of the city, and I think we will be among the first cities to return to after COVID 19”.

Meanwhile, Dubai Tourism said that hospitality players are forced to quickly rethink their business models in order to maintain their position in this changing travel landscape.

Since the beginning of June, the demand for international flights continues to grow leading to an increase in the number of seats.

According to OAG Aviation Worldwide, global carriers added 8.2 million seats, the biggest increase in seat capacity since the outbreak.

Reflecting on the upward trend in global seating capacity, there is a noticeable positive demand for visiting Dubai in the next three months. The aparthotel offers promotions for residents to boost business.

Tanuj Shuri, CEO of Square Yards, said: “The potential benefits from property retailing are enormous. This could pave the way for a huge, liquid, and highly marketable real estate market, which fundamentally changes how we perceive this industry. A huge value can be unlocked by creating stock exchanges. A public real estate where individual small investors can participate, making transfer transfers possible with the click of a button with a settlement in the background, at a very minimal cost for each commercial cost. “