1. Oil has been the main source of income in the UAE for decades together. Since of late, its focus has shifted to other industries as a source of revenue. <br />2. Real Estate, among other industries is one such area of interest, deemed to be a key sector as a source of revenue in the future. <br />3. A little more than a decade ago, locals were allowed to buy, sell and transfer ownership of land across the UAE. <br />4. And recent changes in legal restrictions opened up avenues for foreign investment in freehold plots in investment areas across the Emirates. <br />5. These changes allowed expats to purchase freehold property. However, only GCC nationals were allowed the right to the freehold title of their property. <br />6. Non-GCC expats had access to invest in property in two ways: <br />a. Usufruct, and <br />b. Musataha. <br />7. Usufruct allows expats to benefit from a property owned by a third party. Conditions restrict these owners from making any changes to the property. <br />8. This type of ownership lasts for a period of 99 years and is common in the purchase of apartments. <br />9. Musataha allows the buyer to benefit from the land owned by a third party. They buyer gets ownership for 50 years, which can be extended by mutual agreement. <br />10. This is common in the purchase of villas and investment land. The owner has the right to sue the land for development, to sublet and to take a mortgage. <br />11. Though developers advertise freehold rights to buyers, these rights are only available to non-UAE nationals who are GCC nationals. <br /> <br />Visit yellowpages-uae.com to know more about Expat Real Estate Investment in UAE (i.e. at http://www.yellowpages-uae.com/uae/real-estate) who are good at negotiating and can help both parties come to agreeable terms.
