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.

Samana Developers, one of the fastest-growing private developers in Dubai, takes pride in delivering quality products at competitive price points, ensuring maximum returns for their investors. As an integral part of the renowned Samana Group of Companies, headquartered in Dubai, they boast a strong global presence and represent excellence, consistency, and professionalism. With over 10 companies under the Samana Group, their focus on the real estate sector aims to make a significant difference in the industry, offering exceptional projects and creating lasting value for their customers.

About Developer

Samana Developers takes immense pride in being one of the fastest-growing real estate companies in the UAE. As an integral part of the esteemed Samana Group of Companies, headquartered in Dubai, the company embodies a legacy of quality, consistency, and professionalism across its portfolio of over 10 companies with a robust global presence. With Samana Developers, their vision is to make a significant impact in the vast world of real estate.

Dedicated to exceeding the expectations of their clients, Samana Developers is committed to delivering an exceptional experience. Their unwavering focus revolves around maximizing the returns for their valued investors and transforming their dreams into reality.

Adhering to the motto “On Time, Every Time,” the team works passionately to ensure timely and reliable delivery of projects. Their groundbreaking success in the real estate domain began with the launch of their inaugural project, ‘Samana Greens,’ in September 2018, nestled in the heart of Arjan, Dubai. Notably, the main structure of this project was completed in an impressive timeframe of just 8 months, showcasing their commitment to efficiency and excellence.