Picture for illustration purposes only.
PHOTO BY ARCHIVE
DUBAI – Soon, small investors will be able to own a part of a hotel apartment in Dubai with the “fractional title deed” concept expected to be implemented in the emirate.
The Dubai Land Department (DLD) recently announced the new initiative to attract investment into hotel apartments or serviced apartment projects in Dubai.
The fractional title deed allows small investors to become co-owners of properties and gives them the flexibility to invest within their budget.
Under the initiative, one property unit—a hotel apartment, for example—will be divided into two or four fractional shares that will have its own title deed that may be sold, mortgaged or transferred.
The initiative is currently in pilot phase for one project, according to a DLD spokesperson. A fractional title deed may be registered under anyone’s name. ICA/Expat Media
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