What does off-plan property mean?

Signing a contract to purchase a property that has not yet been built is known as an off – plan property . It is more inexpensive for potential investors to invest in off-plan projects in Dubai than it is to purchase a built-in home, which is pricier . Dubai’s real estate market draws serious investors from around the world.

Can anyone buy a property in Dubai?

In contrast to many other nations, the real estate market in Dubai is open to anyone. You are free to purchase and own property in any of Dubai’s freehold neighborhoods.

How can properties be registered in Dubai?

Dubai Land Department is the sole, legally authorized entity to register and document all real estate transactions. This is done through an electronic system (e-register) dedicated to this purpose, in accordance with DLD’s specific procedures and based on certain documents and papers. The transactions undertaken by real estate developers are recorded through the developers’ self-registration system. The rest of the transactions must be completed by the owner(s) or their representatives, with an official power of attorney at the Real Estate Registration Trustee centres located in different regions across Dubai.

Should real estate transactions be registered in Dubai Land Department?

All real estate legislations in Dubai stress the necessity of registering all real estate transactions including ownership, transfer, or change with or without compensation in order to guarantee the rights of investors. All r eal estate transactions that are not registered in DLD’s registers are considered invalid.

What guarantee do I have that my development will be completed?

The Real Estate Regulatory Authority (RERA) has established several requirements that the developer must meet in order to help ensure that an off-plan project is finished. One of these demands that the developer possess all the project-related land. Additionally, the developer must either provide a 20% bank guarantee down payment, place 20% in an escrow account, or finish 20% of the building before selling off-plan. RERA requires contractors to present a 10% performance guarantee in addition to the procedures .

When is the completed property transferred to the Real Estate Registry and the title deed issued?

The law requires developers to register completed projects in Dubai Land Department as soon as they receive a certificate of completion from the competent authorities. Accordingly, the real estate units that have been fully paid for will be transferred from the initial register to the Real Estate Registry and issuing the title deed/usufruct certificate for the investor.

Al Habtoor Group, a prominent corporation in the Middle East, operates in diverse industries such as real estate, automobile, publishing, education, and hotels. With an extensive track record of achievements, the Al Habtoor Group has emerged as a highly regarded national and international business entity.

The Al Habtoor Group operates globally, proudly representing the UAE in various countries including the UK, the USA, Hungary, Germany, Lebanon, Austria, and others. The Al Habtoor Hospitality division manages a portfolio of seven hotels in the United Arab Emirates, as well as an additional seven hotels around the world.

About Developer

Founded in 1970 in Dubai, United Arab Emirates, under the leadership of Chairman Khalaf Ahmad Al Habtoor, the Al Habtoor Group has continuously expanded its real estate operations. Notably, Al Habtoor City, a luxurious residential complex located on Sheikh Zayed Road in Dubai, stands as one of its distinguished projects. Renowned for its prestige and prominence in the United Arab Emirates’ real estate sector, the Al Habtoor Group employs highly qualified and experienced professionals.

With a steadfast commitment to value, integrity, tenant care, and an in-depth understanding of client needs, the Al Habtoor Group offers comprehensive services. Boasting over three decades of experience, the organization has fostered enduring and mutually beneficial relationships with clients, resulting in significant profits for its stakeholders. Committed to upholding the highest ethical and professional standards, the Al Habtoor Group remains dedicated to delivering exceptional services.