A third of Dubai property owned by women
Around a third of all Dubai real estate (30%) is owned by women, according to the Dubai Land Department (DLD)
Around a third of all Dubai real estate (30%) is owned by women, according to the Dubai Land Department (DLD).
His Excellency Sultan Butti Bin Mejren, director general of DLD, has confirmed that around three in every 10 properties across Dubai are now owned by women.
Speaking at the First Arab Land Conference, which runs from 26-28 February, Mejren pointed to the sweeping changes in urbanisation and property ownership in Dubai in recent decades, and expressed his pleasure at number of woman home owners across the emirate.
READ: 2017 power women in FM
“We are proud of the vital role that DLD plays in protecting the rights of all investors, including women, who now own about 30% of Dubai’s properties,” said Bin Mejren, adding: “We are also proud of DLD’s database, which verifies the ownership of 220 different nationalities in Dubai’s real estate market.”
It takes just 30 minutes to register a Dubai property on DLD’s database that has recently been transformed with blockchain technology, providing more security and transparency of real estate investment transactions.
By 2020, DLD hope to launch a self-registration system for property ownership that will allow customers to register from anywhere around the world.
Dubai’s initial registry law was set up in 2008 and then amended in 2013, according to Bin Mejren. Annually, Dubai registers around 75,000 real estate transactions.