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 2014, Ellington Properties thrived as Dubai’s finest design-led real estate developer, specializing in crafting luxurious homes and communities for high-quality living. Ellington focuses on excellent design and architecture to craft luxurious residences in Dubai.

About Developer

Ellington is renowned for developing luxurious properties and communities for high-quality lifestyles, utilizing artistry and impeccable architecture to transform a house into a home. The design-led developer company has worked on exclusive projects including DT1 in Downtown Dubai, Belgravia buildings in Jumeirah Village Circle, and Wilton Residences in Mohammed Bin Rashid City. With much more coming soon.

Following the Belgravia turnover in 2017, Ellington garnered 4 awards for architecture and interior design from Arabian Property Awards. The next year, 2018, saw not only the successful launches of projects like Belgravia Square, DT1 and Wilton Terraces but also recognition in the form of an Innovation Company Award courtesy of Arabian Business Awards.

DT1 in Downtown Dubai, one of the largest projects of Ellington Properties, won ‘Best Luxury Project’ accolade at the Arabian Business Awards 2019. The firm completed Eaton Place and launched their most recent project Wilton Park Residences in 2019, with studio and 1-2B apartments positioned within natural vegetation settings. This makes it the perfect time for investors to expand their portfolio and buy Ellington properties in Dubai.

There are currently multiple luxurious Ellington projects for sale, including Belgravia Heights III, Belgravia Heights IV and Clyde Hill Residences. With a proven track record of success and a growing portfolio of quality developments, Ellington is one of the best real estate developers for an investor in Dubai.

Investing in Ellington properties means investing in quality design and luxurious living. The developer has a strong focus on creating homes that offer the highest levels of comfort and style. With a number of prestigious projects already completed, and more in the pipeline, Ellington is one of the most exciting developers in Dubai. For those looking for quality and luxury, Ellington is the perfect choice. Contact D&B Properties today to find out more about investing in Ellington properties for sale in Dubai.