Dubai and Oman are to meet foreign buyers

SV Development. Dubai's Sheikh Mohammed bin Rashid Al Maktoum announced the allocation of additional land that can be rented by foreigners. Omani authorities, in turn, allowed expatriates and GCC nationals to buy land and increase the area of ​​their homes.

 

But first things first. According to the publication Arabian Business, the ruler of Dubai Property has allocated two plots of land in the Emirate Investment Park Dubai Investment Park, which foreigners can be leased for up to 85 years.

 

The decision was taken at the sheikh amid reports that in the first quarter of 2012, sales of real estate in Dubai increased by 53% year on year. According to analysts, the market for real estate in Dubai for the last six months of a positive, the investment climate is also improving.

 

As for Oman, here, as the portal Overseas Dubai Professional Property, decided to allow expatriates and GCC nationals residing in the territory of the state to acquire land and increase their living space.

 

In this case specifically stated that the resolution to increase the living space will be granted only if there is such a need. Expats may own land or housing in Oman in specially designated tourist complexes, and the sale of land can not be made within four years from the date of purchase.