Dubai residents will be entitled to outright ownership of both their property and the land in which it is built, according to the latest draft of the Dubai Property Law.

“ Dubai is keeping its promises. Dubai promised full title to the land. With the legislation, they’re going to deliver on what they promised. People purchased and put money into properties on the promise of freehold,” said Essam Al Tamimi, managing partner of Al Tamimi and Company.

If the law is ratified then a host of new investors are expected to flow in to Dubai.

Andrew Chambers, managing director of property developer Asteco said: "Many of them (investors) have mortgages lined up and are just waiting for the law to be announced.”