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.

DAK is an integral entity within a conglomerate of companies that was established in the year 2000. This esteemed group traces its roots back to 1985 when the founding family began their entrepreneurial journey in Dubai.

About Developer

Dar Al Karama stands as more than a mere real estate development firm; it embodies over four decades of expertise, a reflection of enduring family values, and a dedication to shaping the future of residential spaces in Dubai. Since its inception in 1985, the company has played an integral role in Dubai’s growth and infrastructure development in prominent communities like Downtown, Dubai Hills, Jumeirah Palm, Damac Hills, among others. Deeply rooted in this dynamic city, Dar Al Karama has broadened its horizons to establish Dar Al Karama Real Estate (DAK), a forward-thinking real estate development company. The emphasis extends beyond constructing homes to nurturing communities where families can thrive. With a legacy of excellence and a promising future, Dar Al Karama invites individuals to explore a new benchmark for living in Dubai.

Dar Al Karama distinguishes itself through expertise in residential development. The dedicated team at Dar Al Karama is devoted to creating vibrant communities that align with the preferences of modern homeowners. By combining careful attention to detail with a commitment to sustainability, they ensure that every project seamlessly blends practicality and aesthetic appeal. Rest assured, clients can rely on Dar Al Karama to transform their vision into reality.

While property management might appear daunting, having Dar Al Karama as a partner makes it a breeze. Their seasoned team offers comprehensive management services for clients’ units, ensuring meticulous maintenance and maximizing returns. From handling tenant interactions to overseeing routine upkeep, Dar Al Karama takes care of every aspect, providing clients with a serene and seamless ownership experience.