2. Dubai Real Estate Guides
  3. Buying Offplan Property Guide in Dubai
01

Figure Out Your Requirements

An off-plan property is a wise investment. You need to figure out what you are looking for in the property. There is no way to physically see an off-plan property because it is yet to be built. Buying an off-plan property ensures that you get the best price, maximizing profits for you. Decide on the kind of community & property you want and search properties accordingly.

02

Partner with a Company with Expertise in Off-Plan Properties

Off-plan property purchases can be challenging for new property buyers, and foreign investors may also find it hard to navigate the local real estate market. Registering with a reputable company makes things easier as they have experience in handling off-plan properties.

03

Explore Off-Plan Properties

Describe your requirements to the real estate agents who will recommend off-plan properties that meet your preference. The agent will provide details about floor plans & amenities for the property. Video tours can make the exploration easier, and you can also visit the site of the properties.

04

Process After Property Selection

Your agent will take you to the developer's office where you will sign a Sales Purchase Agreement (SPA) after selecting a unit. The initial deposit is made as per the developer's conditions, typically in the range of 10-20%. A passport copy is needed in this step. Additionally, a 4% DLD title registration fee & AED 1,000 Oqood fee are to be paid within 30 days.

05

Make the Payment

You will make payments as per the plans specified by the developer until the property handover. Reselling is allowed during the contract period.

06

Get Ready for the Handover!

You will be required to visit the unit for handover, identifying any issues that need to be addressed. After making the final payment, you will receive your access card & keys. Ensure your agent is by your side to ensure a smooth transaction.

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FAQs

Buyers/owners of properties can get a legal proxy with a proper and duly legalized power of attorney. This person with the POA can have the right to dispose of the properties on behalf of the client, as mentioned in the POA. The POA is valid for purposes like sale, mortgage, and gifting and is valid for a period of 2 years. In case of purchasing with a POA, the said POA is valid for 5 years from the date of notarization at the notary public.
Yes, you can sell an off-plan property before its completion date.
A buyer is eligible for UAE investor visa if his total investment is AED 1 million or above in one of maximum three properties.
Yes, any nationality can own freehold property in designated freehold areas in Dubai and an heir can inherit it.
An escrow account is that which acts as a third-party funding medium wherein the merchant receives access to the transferred money (by the buyer), once an escrow agreement has been fulfilled. If the agreement is not fulfilled by the merchant, the fund is then returned to the buyer. In UAE’s real estate market, an escrow account has a very particular function. The developers of the various projects have to open different escrow accounts for every project, as per the Escrow Account Law in UAE. It protects the buyers funds and regulates the funding that the developers receive from the