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.

Marquis Point, the premier real estate developer in Dubai, UAE, is renowned for their exquisitely designed luxury apartments that transcend mere living spaces and embody a complete lifestyle experience. The company provides personalized service throughout every phase, from project inception to final handover.

About Developer

Marquis Point, driven by an unwavering commitment to excellence, stands out in the fiercely competitive real estate market by delivering sophisticated and elegant homes. With a mission to redefine Dubai’s real estate landscape, Marquis Point strives to establish a new benchmark for luxury living. The company places a strong emphasis on fostering an ideal standard of living, creating vibrant communities where residents can truly thrive.

As Marquis Point envisions their properties as the preferred choice for those in search of new apartments, they aim to cultivate a reputation as the most trusted property developers in Dubai. Their focus on customer satisfaction is unwavering, and they continuously strive to exceed expectations. With a keen understanding of the spirit of each community, Marquis Point designs properties that enhance the quality of life for their valued clientele.

At Marquis Point, the pursuit of excellence extends to every aspect of planning and development, ensuring high levels of efficiency. Their properties beautifully reflect the vibrance and glamour of Dubai, offering a luxurious lifestyle that takes living to new heights.