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.

Sobha Realty stands as a leading developer in Dubai, operating as a subsidiary of the esteemed Indian holding company, Sobha Group, with a rich legacy dating back to 1976. As part of a multinational conglomerate, the Sobha Group engages in investment and development ventures across various regions, including India, China, Bahrain, Brunei, Qatar, Oman, UAE, and Tanzania.

About Developer

Renowned for its exceptional residential developments, Sobha Realty offers a diverse portfolio encompassing luxury apartments, villas, houses, and land plots. The company comprises two key divisions: Sobha Contracting and Sobha Manufacturing. Sobha Contracting provides comprehensive solutions, overseeing the entire project lifecycle from conceptual design to the successful completion of each venture. On the other hand, Sobha Manufacturing specializes in interior fittings, glazing, and reinforced concrete structures, ensuring meticulous attention to detail and superior craftsmanship.

With an unwavering commitment to excellence, Sobha Realty continues to shape the skyline of Dubai, delivering iconic and prestigious projects that redefine the standards of luxury living.

As a trusted and esteemed developer, Sobha Realty combines innovative design, meticulous planning, and a customer-centric approach to create unparalleled real estate offerings that exceed the expectations of discerning clients.