Foreign Investors to be offered 100 percent freehold ownership in new Dubai project

Published April 17th, 2006 - 10:23 GMT
Al Bawaba
Al Bawaba

Foreign investors in a new Dubai real estate project will be offered 100 percent freehold ownership.

 

“It will offer freehold property with 100 per cent ownership to all nationalities,” a statement from the project's developer, Sama Dubai, said, according to <i>Reuters</i>.

 

It added that it would develop half the plots in new 'The Lagoons' project while the remainder would be sold to outside investors.

 

The project is valued at some 65 billion dirhams ($17.7 billion).