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.

Founded in 1993, East & West Properties (EWP) is a prominent integrated Real Estate Group in the UAE. Initially specializing in villa construction, the company swiftly expanded its portfolio to meet increasing demand. EWP is recognized for challenging industry norms and employing innovative and comprehensive methods to navigate dynamic market conditions.

About Developer

With a strong presence in all of the UAE, particularly in Dubai and Abu Dhabi, EWP has collaborated with renowned entities such as Select Group, resulting in luxurious projects like Six Senses Palm, Peninsula Business Bay, The Edge, Jumeirah Living Business Bay, and Marina Gate.

Engaging in master-planning, master-development, and property-related fields, EWP has pivotal developments underway in Abu Dhabi, Al Ain, Dubai, Sharjah, and beyond, closely collaborating with the Abu Dhabi Government and aligning with the Plan Abu Dhabi 2030. The company’s success hinges on a team of professionals adept at addressing environmental, economic, physical, and political challenges in complex development projects. The brand name “East & West Properties” implies a focus on properties and projects spanning both eastern and western regions or influences, suggesting a company that is diverse in its offerings, catering to a global clientele with a sense of variety and sophistication in the real estate and hospitality sectors.

Vision
The vision of East West is to achieve the highest possible standards in the real estate industry while establishing a premier, dominant investment and development company within our market area. Our commitment to deliver innovative quality products & services consistent with community, environment and government expectations will remain at the heart of core values in achieving our company vision.

Mission
To be the prime quality brand in real estate investment and development across the UAE and the region.