# RAK grants freehold realty owners full rights



## Krazy (Apr 27, 2004)

*RAK grants freehold realty owners full rights*

Ras Al Khaimah :

The Ras Al Khaimah government approved absolute and lasting ownership for properties constructed by the RAK Properties Company including expatriates.

The approval covers all facilities, whether they are commercial, residential or tourist.

Shaikh Saud bin Saqr Al Qasimi, Ras Al Khaimah crown prince and deputy ruler issued decision, which granted owners the freedom to sell without any time restrictions.

Sources at the Ras Al Khaimah Government said this is the first time the emirate has has granted absolute ownership for only the units constructed by the company.

The sources said the decision also authorised the RAK Properties to sell units throughout the emirate and in the company'sinvestment projects, as well as other places pre-approved by the government.

Expatriates interested in buying units have been confused about the time and ownership restrictions. Often, they have been told from unofficial sources that they can own the units they buy for 99 years and their heirs will not be able to inherit them.


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