Silicon Oasis is now ALL freehold !

[Wannaberich]

In case you didn't know.

 

[Wannaberich]

'New Property Regulation published in Dubai's Government Official Gazette
Regulation No. 1 of 2010 amending Regulation No. 3 of 2006 Designating Areas for Expatriates to Enjoy Freehold Ownership in the Emirate of Dubai
This Regulation relates to the Dubai Silicon Oasis community in Dubai. Regulation No. 3 of 2006 designated Dubai Silicon Oasis as an area in which foreigners could own property, but restricted their ownership rights to leasehold interests only. Regulation No. 1 of 2010 removes this restriction, and enables property within Dubai Silicon Oasis to be owned by foreigners on a freehold basis'

http://blogs.thenational.ae/crane_country/Property Law News Bulletin 12 May 2010(2).pdf

 

[eyeC]

i still don't know the difference between free hold and lease hold can you kindly highlight the difference and how it could effect the average investor.

Dubai Silicon Oasis last time i checked some buildings there they had issues with electricity ,and other services

also most banks did not provide loans for projects in the area i think most projects sold to investors cash installments made me think twice about the area

surprising banks gave loans to projects in Ajman with extremely high risk but not to Silicon Oasis area

 

[Wannaberich]

Freehold means you own the property and the land it sits on.
Leasehold means you have the right to live in the property for the term of the lease,ie,99 years but you don't own the land.

I am not aware of problems with electricity etc there.DSO is goverment owned and has a very good infrastructure.

 

[eyeC]

anyway for condominium owning fraction of physical land does not mean much as you wont be able to sell it

so free lease 99 years and owning something that is not salable in practice is the same thing or doesn't mean much to the average investor.