link
To me there is a difference between ownership and a lease, and the difference is a lease is for a fixed period of time and ownership is for an unlimited amount of time. What is described in the link above is, to me, a lease.
From what I've read in the last few months, it remains unclear whether any property in the UAE is available for foreign ownership. And it remains a matter of dispute whether federal law permits the individual emirates to allow ownership.
Please comment if you have some thoughts on the question.
30 August, 2005
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6 comments:
It's nothing more than a long term lease. I hope my own government stops foreigners from this region buying up property in my country and instead gives them insecure leases for 99 years too...
If the authorities would prefer property to be sold to expats in Dubai and Abu Dhabi on a leasehold basis, then the property developers should be fined for marketing their products under the 'freehold' concept, which at this point is a blatent lie.
The land is not yours, the build up space is not yours and only the compnay will maintain the the property and charge you for it. You only have the right to reside in it.
I don't see where 'ownership' comes into the picture.
My take is that really, there is nothing equivalent to property ownership (as in full freehold) as most foreigners understand it.
This is NOT to say that buying a house here is a total con, nor to say that there isn't still a lot of money to be made (though the real creaming-it-off times are over).
It is just necessary to bear in mind that it is a very different system.
Ryte, i do agree on what we are saying here...but thing is we need more controll ova wat we had brought to this world from our own hands, we need to know what and who we are...not if we can be strong enough to rule even a cm if land. We need to be strong and fight as humans!
(elect me president) i'll give candy! ha!
i agree with good lookin!
call me!
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