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.

Emaar Properties PJSC is a multinational development company based in the United Arab Emirates that was established in 1997. The company has spread its operations across Africa, Asia, Europe, North America and the Middle East providing renowned property development and management services.

About Developer

Mohamed Alabbar founded and still chairs Emaar Properties, with Amit Jain as the CEO since 2016. The Dubai government owned Emaar Properties until it went public in 2000. Emaar has six business segments and 60 subsidiaries spread across 36 markets worldwide, such as Emaar Malls Group (shopping malls and retail), Emaar International (property development in international markets), Emaar Hospitality Group (a global provider of lifestyle experiences), Emaar Entertainment (provider of premium leisure and entertainment attractions), and Emaar Investment Holding.

Downtown Dubai is one of the most popular freehold zones in Dubai amongst tenants and investors. Downtown Dubai not only has world-renowned attractions like the Burj Khalifa and the Dubai Fountain, but also a wide variety of freehold apartments. For example, Emaar properties for sale in Dubai, such as an apartment in Downtown Dubai may cost from AED 900,000, while one in Emaar IL Primo starts at AED 18 million.

Emaar has a long-term strategic partnership with Meraas Holding, which is a investment holding company based in Dubai. Together, they have developed major mixed-use lifestyle destinations in Dubai, such as City Walk and Boxpark.

Emaar Properties has been ranked as the most valuable brand in the Middle East region for six consecutive years by Brand Finance and was also ranked amongst the top 50 real estate brands globally in 2019. The company reported AED 12.6 billion in revenue and AED 4.2 billion in net profit for the first nine months of 2020. Emaar Properties’s market capitalisation was AED 167 billion as of November 2020.

Emaar is one of the most trusted and well-known developers in Dubai, known for its luxury developments and iconic buildings such as the Burj Khalifa. Emaar has a long track record of delivering quality projects on time and on budget, which has resulted in high investor confidence in the developer, with many expanding their assets to Emaar projects for sale.

Emaar is a publicly listed company on the Dubai Financial Market (DFM) and is also one of the few developers in Dubai that offers investors a dividend yield (currently around 2%). This, combined with Emaar’s strong track record and brand name, makes it one of the best developers to invest in for both capital growth and income potential. So, if you’re an investor looking to buy Emaar properties in Dubai, you have come to the right place.