Lootah launches platform for investors to buy property share
Dubai to roll out fractional ownership of apartments
The Dubai Land Department (DLD) is set to implement a ‘fractional title deed’ concept across the emirate in a bid to attract small investors to the hotel apartment segment, Khaleej Times has learnt.
The new initiative, recently announced by the DLD’s Registration and Service Sector, is aimed at attracting investment into hotel or serviced apartment projects in Dubai, one of the best cities for tourism and lifestyle.
A fractional title deed refers to the division of the same unit into two or four fractional shares, each having its own title deed that may be sold, mortgaged, or transferred as would any other property.
“The initiative is currently in its pilot phase for one project, and we look forward to have more projects like these following the initiative’s full implementation,” a DLD spokesperson said.
Source – Khaleej Times . Read the full article here