Prior to the law being enacted, non-nationals with ownershipstake in Jumeirah, Jbel Ali, and Dubailand areas had no autonomyover their investment. Sale contracts, however, stipulated thatfreehold titles would be granted as soon as the law was put intopractice. The new law--Law No. 7--means foreigners now will begiven the deeds to their land and may register ownership with theDubai Lands and Properties Department. They may also transferproperty ownership directly without having to go through thedeveloper.

The law is expected to have a larger impact on the Dubairesidential market, wherein prices have remained below those incomparable cities because of concerns about improper titles. Asword about the enactment of the law spreads, increased interest byforeigners is expected to push values and also bolster the mortgagesector by attracting more lenders who will now feel more secureabout providing acquisition loans. About 13,000 expatriate familiesmoved into their new homes in advance of the law's enactment,according to published reports; another 7,000 are expected to movein by the end of the year.