Dubai for Life

There have been a few positive developments in the badly affected real estate industry in recent days. 

According to Arabian Business, a new federal law will be soon introduced which will grant freehold property owners six month renewable residency visas. This will certainly help end users. With the current economic climate, there’s no point in buying a house knowing you can someday lose your job and have to leave the country.

Also, Dubai’s RERA has frozen the service charges for freehold properties at last year’s rates, unless the rates are lower or approved by them. They will also issue four regulations in March which will enable developers and owners to form owner’s associations which will maintain the common areas. For more, click here.