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.

DAMAC Hills 2 Off Plan Properties

Luxury in the heart of Dubai

Formerly known as AKOYA Oxygen, DAMAC Hills 2 is a master community
that curates a one-of-a-kind living experience – inspired by water, sports and
fun for all ages. Clusters of thoughtfully-designed apartments, townhouses
and villas are surrounded by a whole new range of experiences & convenience

AED 1,150,000

Starting Price

Buy Directly

from developer

Embrace A Luxurious Odyssey

35 Minutes

to Marina

45 Minutes

to Downtown

50 Minutes

to DXB

40 Minutes

to DWC

DAMAC Hills 2

DAMAC Hills 2 is a secluded residential community located in Dubailand. The project was launched in 2014 by DAMAC so most of the development is completed.

Also known as AKOYA O², this high-end development is the first green community in Dubai. It features prestige location around the world-renowned golf course, lush green parks and boulevards, fountains and gardens.

The development comprises 10000 villas and townhouses, 1200 apartments including one, two and three bedroom units, and also over 650 serviced villas.

Many buyers from all over the world choose to purchase an off-plan villas and townhouses in DAMAC Hills 2 for several major reasons. First of all, according to Dubai property market report for H1 2020, DAMAC Hills 2 is the most popular area for buying off-plan properties in Dubai. Secondly, most of the property in DAMAC Hills 2 are located close to the upcoming Expo 2020, which is a winning argument for investors.

A New Arc Of Luxury Living

Properties for sale in DAMAC Hills 2

APARTMENTS

Verona

AED 1,829,000

Why

DAMAC Hills 2

Those who wish to invest in DAMAC Hills 2 can expect the highest ROI of 5.8% for 3-bedroom villas. One can also buy 4-bedroom villas and receive up to 5.2% ROI or 5-bedroom villas for 5% ROI. The largest 6-bedroom villas show an average return on investment of 4.2%.

Strategically positioned in Dubai, Damac Hills 2 is a masterfully planned community that allows residents easy access to key areas of the city. Located just a short drive away from major business districts, entertainment centers, and world-class shopping malls, residents can effortlessly strike a balance between work and leisure.

The townhouses here exhibit architectural excellence, reflecting a perfect blend of modern aesthetics and timeless elegance. Crafted with meticulous attention to detail that offer spacious living areas, large windows that welcome natural light, and expertly landscaped gardens that create a serene environment.