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.

Palma Holding is a leading real estate developer that creates luxurious properties in prime locations. The company was founded by one of the most experienced and reputable individuals in Dubai back in 1998.

About Developer

Palma Holding is led by Kareem Derbas, Founder and Chief Executive Officer, which Rauf Derbas served as its Principal Founder. Presently, Palma Holding is delivering some of the most ambitious, innovative, and prestigious developments in Dubai. Project introduced not so long ago in 2018 is Serenia Residences on Palm Jumeirah, Dubai.

Serenia is a gated community on The Palm Jumeirah that provides a unique chance to call it home. It’s the only totally residential development on the island, with beachfront homes costing from a starting price of AED 1.75 million. It has one-of-a-kind apartments with three bedrooms and penthouses in Dubai as well as villas in the city center. To expand your real estate investment portfolio, get touch with D&B Properties to find Palma Holding properties for sale in Dubai.

The company’s excellent reputation and dedication to its three core divisions have made it a well-respected name in the real estate industry. So far, its real estate development division has completed projects totaling AED 3.6 billion in value Dubai, on top of the waterfront retail assets it already owns. Consequently, this has vastly encouraged confidence in long-term investors to seek Palma Holding projects for sale.

Palma Holding is active in a number of social causes, including school construction in Lebanon, blood donation, yearly Dubai charity marathons, and Ramadan gift distribution. The company has also made a substantial donation to the Red Crescent to assist war refugees. If you’re looking for a real estate developer who is reliable, then look no further than Palma Holding. With a wealth of experience and a commitment to quality, Palma Holding is one of the best developers in the city. Contact us today to find to buy Palma Holding properties in Dubai.