A recent law allowing property ownership by foreigners in Dubai is set to boost the local real estate market, an expert told AFP. “The new law is liable to enhance confidence in the legal framework protecting property buyers,” Abdul Salam Al Bessis, who owns property agencies in the emirate and in Europe was quoted as saying.
The law will “attract more big international property developers, who prefer to invest in countries that have clear-cut rules in this sector,” he added.
