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.

Binghatti Developers is the real estate development division of Binghatti Holding, a prominent holding company in the United Arab Emirates (UAE). Headquartered in Dubai, the company operates in various sectors, including real estate, food and beverage, hospitality, industrial, and construction. Binghatti Holding enjoys a strong reputation as one of the leading companies in the UAE.

About Developer

Binghatti Developers, an innovative force in Dubai’s real estate sector, is led by CEO and Head of Architecture, Mr. Muhammad BinGhatti. With a history dating back to 1875, this dynamic company has earned a reputation for delivering iconic properties boasting pioneering architectural designs, world-class materials, and unparalleled lifestyle facilities.

Setting itself apart in the industry, Binghatti Developers consistently challenges norms by creating high-quality projects at affordable prices, all while adhering to strict timelines. Their commitment to excellence has garnered the attention and trust of prominent institutions such as major banks, hotel groups, and real estate funds. In addition, the developer offers holistic solutions that cater to the diverse needs of end users.

Within a relatively short period of time, Binghatti Developers has emerged as a viable alternative to larger market players in Dubai. This accomplishment can be attributed to their extensive portfolio of completed projects and their unwavering dedication to delivering on their promises.

Presently, Binghatti Developers has made its mark in various areas of Dubai, including Dubai Marina, Jumeirah Village Circle, Dubai Silicon Oasis, and Dubai Land Residence Complex. By strategically choosing these locations, the developer ensures that their properties are nestled within sought-after and thriving communities, adding further value to their developments.

As Binghatti Developers continues to redefine Dubai’s architectural landscape, they remain committed to their vision of providing exceptional properties that reflect innovation, quality, and affordability.