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As the ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued a decree amending some of the provisions in Decree No. (4) of 2010 to regulate Grant of ownership assigned to industry and commerce.According to reports, land in the emirate Ten thousand.
It also amends sections (1) and (2) of the original Act. Section (1) outlines the definitions in the Act, while section (2) covers the grant of title to land.
According to the new text of Article (1) of the Decree, “allocated land” is defined as land parcels allocated to UAE nationals for industrial or commercial purposes, including land subject to disposal orders and land allocated for inheritance, transfer, donation or Transfer to a third party in exchange for consideration. “Beneficiaries” are defined as UAE nationals allocated to the land.
The new text of section (2) allows allotted land to be granted to the beneficiary on a freehold basis at the beneficiary’s request without any restrictions on its use, development or disposal, provided that the allotted land includes a real estate project – whether completed or under construction – according to the rules and regulations of the Dubai Land Department.
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