If you are a foreigner looking to invest anywhere in the UAE, then you need to be familiar with these two terms. Even though the laws are now flexible, there are still certain properties that are off the limit for foreigners. So, you need to know which properties are placed as freehold or leasehold.
Just as the name implies, freehold means that expats can own the property in their name. The decree was passed by Sheik Mohammed Bin Rashid allowing foreigners to buy and own properties in the designated freehold areas. In addition, property owners also get to enjoy residence visas that can be renewed at will. Meanwhile, as the owner of the property, you also get the chance to restructure to suit your preference, exclusive management to your property as you see fit. The only disadvantage is that you can only buy properties in the selected freehold areas. In Abu Dhabi, you can check out some of the best freehold areas like Al Reem Island, Yas Island, Al Falah City, Masdar City, Al Shamkha, Nurai Island and many other luxurious properties.
Likewise, in the luxurious city of Dubai, you have a lot more options to explore. Some of the top freehold areas for foreigners include Al Barari, Arabian Ranches, Bluewaters Island, City Walk, Business Bay, Culture Village, Dubai International Financial Centre, Downtown Dubai, Dubai Creek Harbour, Dubai Hills Estate, Dubailand, Dubai Marina, Dubai Sports City and dozens of other options.
Leasehold on the other hand simply means that you cannot buy the properties. You can only be allowed as a foreigner to lease the property for stipulated time usually between 10 to 99 years. So, if you are looking for areas where you can lease properties in the UAE as a foreigner, you can check out leasehold areas like Jumeirah, Discover Garden, Deira Island, Al Barsha, Al Warqa and many more.
