Unlocking Land Ownership in Dubai and Abu Dhabi
Demand for land in the UAE is increasing every year. For example, in May 2023, land sales in the Emirates rose by 233% compared to the same period last year. Land is purchased for various purposes, including construction, development, and resale. Notably, Russian investors are actively entering the market. According to a report from the real estate company Betterhomes, Russian buyers ranked third among all real estate investors in the UAE during the second quarter of 2023. It’s important to note that this report focuses on residential property purchases (apartments and villas), but the overall trend is clear. Let's look at the restrictions on land purchases for foreigners in the UAE, using Dubai and Abu Dhabi as examples.
