REIF Attracts Foreign Capital to Boost Dubai’s Economy

REIF, or Real Estate Investment funds, introduced new regulations to attract more foreign capital. This investment is set to improve the United Arab Emirates’ economy. Its position is a global destination for real estate and property investments. 

REIF, registered in the Register that the DLD or Dubai Land Department maintains, allows ownership rights over properties that are located in areas where non-UAE nationals can acquire real estate properties. They can hold freehold ownership and leasing extending up to 99 years. Which is determined by a committee responsible for determining the areas outside the REP. This is where non-UAE nationals can acquire their rights. 

The decree applies to all the REIF licensed to operate in Dubai properties. Whether working onshore or in the free zones, including the special development zones. The Register will record the REIFs that are eligible for the privileges provided by the Decree.