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.

Omniyat is a specialized development, investment, and management firm with significant expertise in residential and commercial construction. Omniyat has been dedicated to providing professionalism and unique touch to each project since its founding in 2005 in Dubai, UAE.

About Developer

Omniyat Properties has developed into a successful company with a diversified portfolio, which is complemented by the succession of outstanding projects and fixtured itself among UAE major influential development firms. Omniyat is known for its excellent craftsmanship, and this is brought to life by world-renowned architects, engineers, designers, and artists. The towers that they have in Dubai are a perfect example of this, as they blend retail, hotel apartments, commercial spaces, and residential areas together perfectly. The undeniable convenience and comfort is the driving factor for investors and residents to buy Omniyat properties in Dubai.

The Omniyat concept is built on attention to details. Modern designs and appointments, as well as premium appliances and fixtures, are included no matter what the budget when it comes to the exterior of Omniyat. No matter what type of investment you are looking for, Omniyat has the perfect solution for you. If you are looking to expand your portfolio, then consider investing in Omniyat properties for sale in Dubai. With a proven track record of delivering successful projects, you can be sure that your investment will be in good hands.

When it comes to real estate development and investment, Omniyat projects for sale is an investment you can trust. With years of experience in the industry, they have successfully delivered many iconic projects in Dubai. Some of their most notable developments include The Opus by Zaha Hadid, Address Boulevard and One Business Bay.