Dubai’s real estate market is known for its diverse offerings and innovative approach, providing a wide range of property options for investors and homeowners. While freehold and leasehold properties are commonly discussed, another property ownership type is gaining increasing attention in the emirate: commonhold properties. Commonhold ownership has become a popular choice for those seeking a more flexible and community-based approach to property investment.

Curious about commonhold property? This article provides a comprehensive overview of this unique ownership model. We’ll explore its definition, how it works, and its legal basis. We’ll also examine why commonhold might be an attractive option for Dubai property buyers, highlighting its distinctions from other ownership types and its potential benefits and risks.

Know More About Commonhold Property

Commonhold property is a type of ownership where individuals own their specific unit (like an apartment or villa) outright. However, they share ownership of common areas like hallways, elevators, parking, and recreational facilities. This model is popular globally and has been adopted in Dubai’s real estate market to streamline the management of shared spaces, especially in residential buildings and gated communities.

A commonhold system is where a property, like a building or housing development, is divided into individual units. Each unit can be owned separately, while the shared areas, such as the grounds or amenities, are collectively owned by all unit owners. These owners establish a homeowners’ association (HOA) to manage and maintain these common areas...Read More