According to Article 4 of the Dubai Property Law, all nationalities other than UAE or GCC nationals are granted the right to own a freehold interest, a right of usufruct or a long lease of up to 99 years in ‘designated areas’ of Dubai as approved by the Ruler.
Regulation No. 3 of 2006 was signed by the Ruler and published in the government’s official gazette on July 3rd 2006. This Regulation provides at Article 3 that “non-locals may own properties as freehold not limited by time, or may have the usufruct right or hire right for a period not exceeding (99) years in the plot or plots shown opposite each of the under-mentioned areas according to the maps issued by the Department and attached with this Regulation”. The Maps were not published with the Regulation. Article 3 lists 23 designated areas and specify the applicable plots by their plot numbers.
Foreign companies, as well as individuals, can own a freehold title, long lease or a usufruct right of up to 99 years in the designated areas. It is understood that the Lands Department will impose no restrictions on this and it will therefore make no difference whether the company is registered in the Cayman Islands, England, Hong Kong or any other foreign jurisdiction, provided that evidence of lawful existence in the country of incorporation
