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Dubai to roll out fractional ownership of apartments

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The new initiative is aimed at attracting investment into hotel or serviced apartment projects in Dubai.

The Dubai Land Department (DLD) is set to implement a ‘fractional title deed’ concept across the emirate in a bid to attract small investors to the hotel apartment segment, Khaleej Times has learnt.

The new initiative, recently announced by the DLD’s Registration and Service Sector, is aimed at attracting investment into hotel or serviced apartment projects in Dubai, one of the best cities for tourism and lifestyle.

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.

“The initiative is currently 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.

Abreast of the growing number of Dubai investors, especially smaller investors, the fractional deed offers 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,” the spokesperson added.

To view the full article visit the website:  Khaalej

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