According to Article 4 of the Dubai Property Law, UAE and GCC nationals and companies that are owned by such nationals have the right to own any property interest in the Emirate of Dubai, and to have such rights registered at the Lands Department. UAE and GCC nationals can therefore own property rights in all areas of Dubai, and so can their companies. This includes limited liability companies and private joint stock companies in which all the shareholders are UAE or GCC nationals.
If a company is incorporated in the UAE or in any of the other GCC countries and has foreign shareholders, it will not be considered a UAE or GCC national for the purpose of owning property. The only exception to this is Public Joint Stock Companies, companies such as Emaar and Union Properties that are listed on the Dubai Financial Market. These companies allow their shares to be bought by foreigners but are still considered to be UAE nationals and can own property anywhere in Dubai.
