gulfnews : Dubai acts to revive freehold projects

The Dubai Land Department (DLD) has introduced two initiatives, Tayseer and Tanmia, to revive and support the real estate market in Dubai.

Tayseer aims to support certain projects in Dubai through the arrangement of financing via local banks. Tanmia — an initiative by Real Estate Investment, and Promotion and Management Centre (REIPMC) under DLD — aims to reduce the number of incomplete projects, reignite stalled projects and improving Dubai's appeal for investment.

Tayseer, launched in July 2010, aims to facilitate financing for purchasers in certain pre-qualified projects in Dubai. The qualification process is essentially as follows:

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