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.

Properties for Sale in Jumeirah Bay Island

Luxury Island Living

Jumeirah Bay Island, a new Meraas Holding master development, is located offshore Jumeirah Beach Road. Spanning over 6.3 million square feet in size, the island is designed like a huge seahorse. It provides a range of luxury living options and entertainment amenities, such as low-rise flats, villas, a boutique resort, and a marina.

AED 64,000,000

Starting Price

Buy Directly

from developer

A Landmark Address Exuding Opulence

20 Minutes

to Downtown

40 Minutes

to Marina

25 Minutes

to DXB

50 Minutes

to DWC

Jumeirah Bay Island

Meraas Development created the distinctive residential development known as Jumeirah Bay Island. Jumeirah Bay Island is the epitome of luxury with its assortment of lavish villas and exquisite apartments. The neighborhood is close to some of the city’s most famous monuments, including the Bulgari Resort, Dubai Garden Glow, Dubai Mall, Burj Al Arab, and Palm Jumeirah.

A Lush Community in An Urban Setting

Why

Jumeirah Bay Island

Jumeirah Bay Island residents are treated to breath-taking vistas of the Arabian Gulf and Dubai’s cityscape, which includes the renowned Burj Khalifa. Every homeowner on the island has access to his or her own private beach, making it the ideal location for the affluent.

On this beautiful island, there are about 128 plots up for sale, each with a residence that has been decorated with a modern finish.

When it comes to the number of billionaires per square meter, Jumeira Bay surpasses Palm Jumeirah, Emirates Hills, and Dubai Hills in the United Arab Emirates.