;

© 2024, design with by 7awi Media Group

New Law Supporting Property Investment Funds in Dubai

  • Publish date: Wednesday، 20 July 2022
New Law Supporting Property Investment Funds in Dubai

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has issued Decree No. (22) of 2022, introducing incentives for property investment funds in Dubai.

The Decree covers all real estate investment funds licensed and regulated by government authorities as well as private development zones and free zones, including the Dubai International Financial Centre (DIFC).

The Decree also covers all real estate in Dubai, including properties located in private development zones and free zones, excluding DIFC.

Read More: Mubadala Claims '2021 Fund of the Year' Award

Read More: Etihad 7 Programme to Fund Renewable Energy Projects in Africa

Read More: Saudi Arabia To Contribute $3 Billion Dollars To Iraq Investment Fund

The value of real estate assets owned by the fund at the time of application for listing in the Register should be AED180 million or above. Funds should not be suspended from trading in Dubai’s financial markets at the time of application.

The value of properties that funds invest in should be AED50 million or above. The properties should be listed as commercial properties and comply with Decree No. (4) of 2010. Funds are allowed to relinquish ownership of properties only after approval from the Committee.

Follow us on our Whatsapp channel for latest news
 

Related videos

Related articles