What is Freehold property vs. Leasehold property? In a first-of-its-kind initiative in 2001 the Dubai government permitted 99-year ownership of Dubai real estate for non-GCC nationals. This was known as leasehold ownership. In 2002 Dubai Crown Prince, Sheikh Mohammed bin Rashid Al Maktoum, issued the freehold property decree, permitting non-GCC and non-UAE nationals 100% ownership in specific areas within Dubai, regardless of whether the buyer is living in the Emirates. This freehold property decree created a massive residential property boom in […]