Dubai law changes 'will benefit investors'

Recent changes to Dubai property real estate laws are "perfect" for reinstating investor confidence in the emirate, it has been claimed.

According to the Middle Eastern Real Estate Consultants (Merec) the new laws will help allay any fears investors have when considering buying property in Dubai.

The changes grant expatriates and foreign investors the right to own freehold properties in Dubai following approval from the ruler and establish a property court to help solve any real estate problems that may arise as a result of making a purchase.

"Nobody approaches a real estate company in the UAE without thinking twice about the paperwork and the legalities involved," Merec stated, noting that it hopes the recent legislative changes will result in a number of individuals making investments in the emirate "without any fears".

One person who has chosen to invest in Dubai property is former tennis player David Lloyd, who, according to AplaceInTheSun.com, has chosen the emirate as one of the locations for his new property venture.

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