What role does the Dubai Land Department play in the United Arab Emirates?
According to Dubai Land Department (DLD) regulations and monitoring of the real estate market activities inside the emirates boundaries are within their jurisdiction. Law No. 7 established by His Highness the Dubai ruler in 2013 mandates that the department’s primary function is to register, organise, and promote real estate investment in the United Arab Emirates. Real estate industries from across the globe are encouraged to invest in the country by applying international standards in this critical area.
Dubai is recognised as a melting pot, where people from all over the globe come together. Due to the Emirate’s position as a major financial centre, its high-tech offices and business centres are popular with top-level professionals from all over the world. In Dubai, several multinational corporations have established regional offices. About 88 percent of the population is made up of foreigners. The ethnic composition of the Emirate is heavily skewed toward Central Asians. If you are searching Properties to rent in La Mer, please visit our website.
Since the year 2000, foreigners have been able to purchase real estate in Dubai, but only in so-called freehold regions. Um Hurair, Al Barsha, Jebel Ali, Al Gouz, Ras Al Khour and Nad al Shiba are just a few of the localities where freehold property is available in Dubai.
The Future of Dubai
In compared to its pre-urban size, Dubai’s population is expected to double or possibly triple in the next several decades, making it a great place to live and invest. Many large-scale infrastructural and real estate projects are now under development in the city, including Dubai South City and Al Maktoum International Airport, among others. Dubai’s hotel, commercial, and recreational real estate sectors are poised to boom as the city prepares to host major international events like Expo 2020.