About Off Plan Dubai

Understanding rules, regulations and milestones becomes especially important when you’re purchasing an off-plan property. Here are a few things to keep in mind:

• Purchase property in a Dubai Land Department approved and registered development project.
• Payment of DLD registration fees of 4% of the purchase price at the time of purchase.
• Make sure the Sale Purchase Agreement is signed and stamped by the developer.
• Until completion, you have to register the property on the Interim Property Register (Oqood).
• Once registered, the title deed will be issued, laying down the particulars of the purchased property and the sale transaction.
• Make payments into an Escrow account in the name of the project.

Set fees for an off plan property include:

• 4% Land Registration fee.
• Administration fee (Emaar charge 3000 AED) paid into the Oqood Escrow account with the land department fee.
• The down payment to secure the unit.

The sales representatives at the developers are all based on sales, they have after care teams that vary in efficiency but once you have signed the sales representative who you have been dealing with to date will move onto the next client. As they can only sell the one developer product they will always be very biased and although not ethical we have seen instances of miss-information or false promises.

At Off Plan Dubai we assign you a representative who will provide impartial, honest advice based on years of market experience. Understanding market dynamics and being able to talk investment numbers will help you to make the right decision.

We provide our service before, during and after the sale. We can drop off documents, pick up receipts and even book units on your behalf if you are not able to attend. Our Pre-Sale access means 99% of the time your presence, unless you would like to be there, is not a mandatory requirement.

We honestly believe we offer the best honest advice, information and support network in Dubai and would be happy for you to speak to previous clients to confirm this.

Yes you can but there are some finer details you should be aware of.

Generally, you can only finance the final 50% of an off-plan purchase so if the property value is 5 million AED you would need to have the liquidity of 2.5 million AED over the first 50% of the payment plan, which would generally be around 3 years.

This changes only if the final payment on the payment plan is higher than 50%. So if the payment plan is 30/70 (30% during construction and 70% on handover) as the property is complete the banks will finance the final 70% and offset the mortgage against the ready unit.

No.

The unit price is the same to our clients if you choose to use our assistance or not. The developer reimburses us for our expert advice and this amount varies from project to project.

If any agency or representative tries to charge commission or a one-off fee, we find this extremely unethical. You are entitled to a free consultation and tailored advice and only if you do purchase will the agency receive the fee from the said developer.

Off-plan properties hold immense potential in terms of long-term capital appreciation and returns. Before investing, consider your liquidity position to ensure you can make timely payments, and take resale value predictions into account to determine the worth of your property. The maturing market is a safe haven for investors to expect significantly higher gains in the future, compared to what you’ve paid for today.