Who can buy parking spaces in Dubai freehold areas?

Dubai developers are allowed to sell extra parking spaces to unit owners only, a Dubai Land Department (DLD) official has told Emirates 24|7.

“No one can buy parking spaces in any building unless they are landlords,” said Sultan Al Akraf, Senior Manager, al Estate Registration Services, DLD.

The Dubai Municipality law for residential buildings states that an owner of a property that is more than 1,500 square feet in area is eligible for two parking spaces, while those with units below 1,500 square feet will get only one parking space.

When asked if an owner has to register a newly-purchased parking space with the DLD, Al Akraf said: “Parking spaces have to be mentioned in the title deed along with the assigned numbers for the property.”

He disclosed the buyer of an additional parking space has to pay an extra four per cent from the total amount as registration fee to the DLD.

Emirates 24|7 reported earlier that developers, primarily in Jumeirah Lakes Towers (JLT), have been selling parking spaces.

Indigo Properties, the developer of Indigo Tower and Indigo Icon, was selling parking space in the two towers for Dh100,000 each. while Damac Properties was selling parking bays in Lake View Tower, JLT, for Dh60,000 to Dh75,000 per bay.

Rakesh Bohra, Founder, Value Homes Real Estate Brokers, says, “It does make sense to buy an extra parking space as in the long term, one can seek additional premium for the apartment. One can even rent a parking space and earn between Dh500 and Dh700 per month."

He believes that buyers, particularly in Business Bay, Dubai Marina and JLT, are showing interest in buying additional parking spaces.

In non-freehold areas of Dubai, individuals cannot purchase parking spaces, but can buy seasonal parking tickets.

Following is the cost of a seasonal card for the period of three months, six months and one year:

Category A: Dh700 for three months, Dh1300 for six months, Dh2,500 for one year.

Category B: Dh450 for three months, Dh800 for six months and Dh1,500 for one year.

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