Partial deeds open up investor ‘pools’ for Dubai
Dubai’s real estate market has already welcomed cash-ready investors and end users. Now, it is targeting a relatively new set of buyers — those wanting to pool funds and share ownership in a property. So, whether the investor puts in a few thousands of dirhams or a million or more, his share in that property will get duly recognised … officially. While this helps with the ease of buying, partial deeds can also help on the selling. The individual could dispose off his share and not be bound whether other investors agree or not. This is essentially what having “partial” title deeds will allow, whereby each investor in that property will have their rights recognised by the Dubai Land Department. Dubai’s authorities are also looking at the bigger picture with this option, at a time when thousands of homes are being delivered.
Tags : INTERNATIONAL