Home Industry Real Estate Dubai issues decree regulating grant of title to industrial and commercial land The decree is the latest in a series of laws that have been recently passed in Dubai in relation to property by Gulf Business July 23, 2022 Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has issued Decree No (25) of 2022 amending some of the articles of Decree No (4) of 2010, regulating the grant of title to allotted industrial and commercial land in Dubai. According to state news agency, WAM, the decree amends articles (1) and (2) of the original decree. Article (1) outlines the definitions in the decree, while article (2) covers the ownership of granted land. In accordance with the new text of article (1) of the decree, ‘allotted land’ is defined as land plots allocated for industrial or commercial use whose usufruct right is awarded to UAE nationals, including land subject to an order of disposition and allotted land transferred to third parties by way of succession, assignment, donation, or in return for consideration. ‘Beneficiary’ is defined as a UAE national to whom land is allotted. The new text of article (2) of the decree permits granting the allotted land to the beneficiary at his request on a freehold basis and without any restriction on its use, exploitation, or disposition, provided the allotted land includes the real estate project – either completed or under construction – in accordance with the rules and regulations of the Dubai Land Department. Read: Dubai issues law regulating use of commercial lands Also read: Read: Sheikh Mohammed introduces incentives for property investment funds Tags Commercial property Decree No (25) of 2022 Dubai property 0 Comments You might also like RTA to construct 762 bus shelters in key Dubai areas by 2025 Dubai approves Dhs152m bonus for government employees Strong cash flows for UAE stocks in Christmas Day trade Institutional investors were hungry for Dubai, Abu Dhabi Stocks in 2023