Q. Does Dubai Properties offer freehold properties??
A. Yes, Dubai Properties sells freehold properties to both local residents and international investors. With communities and towers in some of Dubai’s most popular destinations, including:
- 1/JBR, a luxury residential tower in Jumeirah Beach Residence.
- Residential towers in Business Bay, which include Bellevue Towers.
- Mixed-use residential communities in Dubailand including, Mudon, Villanova, Serena and Remraam.
- Dubai Wharf and Manazel Al Khor residential projects on the Dubai Creek.
Q. Who owns Dubai Properties?
A. Dubai Properties is a subsidiary of, and the real estate arm of Dubai Holding, the global investment conglomerate.
Q. By law, can you buy properties in Dubai?
A. Yes, the laws in Dubai permit residents and international investors to purchase property in Dubai's freehold market.
Q. Can foreigners/expats buy houses in Dubai?
A. Yes, any person of any nationality, whether they are a resident of Dubai or based abroad, can purchase property in Dubai's freehold market. You are not required to hold any type of residency or similar permit in order to purchase property.
Q. What are the steps to buying property in Dubai?
A. The process of buying a property includes four basic legal steps that need to be followed in Dubai.
1. Establishing buyer and seller agreement
Once you have found a property that you want to invest in, you must consult a real estate agent. They will help you communicate, negotiate and outline the terms of sale with the owner.
2. Signing an agreement for sale
Once all the details are finalized, it’s time to sign the agreement of sale, also known as the Memorandum of Understanding (MoU). In Dubai, this document is entitled ‘Contract F’ and is available on the Dubai Land Department’s website, under the ‘Contracts’ page. Upon signing this contract it is standard practice in Dubai for the buyer to pay a 10% deposit of the property value to the seller.
3. Applying for a No Objection Certificate (NOC)
To allow for the transfer of ownership you must apply and pay for a No Objection Certificate from the developer of the unit you are purchasing. This will allow for the transfer of ownership. Once all outstanding service charge payments are finalized the developer will be able to provide an NOC.
Q. Transfer of ownership with Dubai Land Department
A. Once you have obtained the NOC, you will need to meet the seller at the Dubai Land Department (DLD) to have a new title-deed drawn up. Before the title-deed is provided, DLD requires the buyer to make a payment of the property price in the form of a cheque. This cheque should be made payable to the seller on the date of the transfer.
Q. How long does it take to buy a new property in Dubai?
A. An average property transaction in Dubai takes around 30 days to complete from the date on which the Agreement for Sale is signed.
Q. What are the fees needed to buy a property in Dubai?
A. The primary market purchasing fee in all DLD Registration Trustees offices is AED 4,000 for transactions over AED 500,000, and AED 2,000 for those below this amount. Fees are payable in cash and paid by the parties as agreed.
For secondary market purchases, total fees include a 2% commission fee (for the sales agent or broker), the NOC fee [around AED 5,000 max] and a transfer appointment fee [AED 4,000].
Q. How do I buy property in Dubai on instalments?
A. You will need to apply for a mortgage through one of the banks in the UAE. Mortgage registration charges payable to the DLD amount to 0.25 per cent of the loan value, plus AED 290 as a standard charge.
The following documents are typically required for UAE residents to receive mortgage approval:
- Passport and visa copy of the purchaser.
- Copy of Emirates ID.
- Proof of current address such as Ejari and Dewa bill.
- Salary certificates or evidence of regular income.
- Bank account statements for three to six months, which reflect the corresponding salary credit.
- MoU for the sale of the property.
- Title deed of the property to be purchased.
- Seller’s passport copy.
- No Objection Certificate from the developer.
Q. Are properties in Dubai subject to VAT?
A. The UAE government implemented a landmark policy by introducing value-added tax (VAT) at a rate of five per cent, effective from January 1st, 2018.
The VAT law states that all real estate transactions, apart from the sale of vacant commercial properties and commercial property leases, are either not subject to or exempt from the tax.
In other words, there is no VAT charged on the rent for residential accommodation. However, it is possible that a residential tenant benefits from other services – either included in the rental agreement or in addition to the agreement – that are subject to VAT.
Q. Can I buy a house in Dubai and get a residency visa?
A. Investors, home owners and specialists, such as doctors and engineers, can receive UAE residency visas valid for up to 10 years as per the law announced in May 2018 by the UAE government.
The existing property visa is a two-year renewable property investor visa issued by the Dubai Land Department for a freehold property valued at Dh1 million or more on the title deed.
Q. Is Business Bay a good location to live in?
A. Business Bay is a mixed-use destination in the modern heart of the city. Developed by Dubai Properties, Business Bay is a home to residents, as well as a popular commercial and entertainment destination. The master-development was ranked as the fifth must-see neighbourhood in the world by Lonely Planet, the largest travel guide in the world.
Described as Dubai’s most exciting neighbourhood in the making, the locale has been placed alongside popular city destinations including London, New York City and Rio de Janeiro. Dubai Properties’ three significant projects Bay Avenue, Bay Square and Marasi Business Bay have helped contribute to the growth of the neighbourhood.
The area is ideal for young professionals who want to live in the heart of Dubai’s business district and stay close to its commercial hub, Downtown Dubai as it has direct access to major highways, and is in close proximity to Downtown, Jumeirah, DIFC and other central touch points.
Q. What do I need to become one of Dubai Properties' brokers?
A. First you must be a licensed broker by Dubai’s Real Estate Regulatory Agency (RERA) as it is the only authoritative body that issues broker licenses.
Real estate businesses must be registered with the Dubai Economic Department (DED) within the Brokers Registry. The DED grants licenses to sole-owner and multi-owned limited liability companies (LLCs) to UAE nationals and foreigners.
Application for registration in the Brokers’ Registry must include the following documents:
- Valid trade license issued by DED.
- A membership certificate in the Dubai Chamber of Commerce and Industry.
- An exact copy of the ownership certificate of the brokerage shop or its lease.
- A certificate of good conduct for the establishment owner and senior manager(s).
- None of the company’s directors or partners authorized to manage the company shall be the subject of a previous case of bankruptcy or breach of honor or trust.
- Appropriate course certification or degree in real estate from educational institutions accredited by Dubai Land Department.
- Passing the brokerage profession test.
Passing individual registrations and sole-owners, the required documents are:
- Two passport size photographs.
- A copy of the passport.
- A copy of the residence visa.
- A copy of an Emirati-issued labor card (profession must be identical to that of visa).
- The application must be on the approved form and signed by the company sponsor.
If the application is accepted, the broker must use his broker registration number in all correspondence and reports issued by him.
Q. What are the exact steps to buy a property from Dubai Properties?
A. Once you have been through Dubai Properties’ online brochures for its developments you can contact one of our sales representatives who will be happy to take you through the process in detail.
For any additional information on how to purchase a property from Dubai Properties, please contact 800 DPUAE (800 37823) or +971 4 871 3700 or send your request through the following link.
Q. I am moving to Dubai, where can I start seeing some properties?
A. There are a number of ways to begin your search for property in Dubai. For more information on Dubai Properties’ developments please contact 800 DPUAE (800 37823) or +971 4 871 3700 or send your request through the following link
Q. I am looking for a luxurious apartment. Which is the best location for buying property in Dubai?
A. The real estate market in Dubai has a vast selection of luxury residences to choose from and the sector for prime and ultra-prime real estate has grown considerably in the emirate in recent years. Dubai Properties’ flagship project is the luxury residential tower located on Jumeirah Beach Residence – 1/JBR.
Contact 800 DPUAE (800 37823) or +971 4 871 3700 or send your request through the following link to receive offers on luxury units in our developments.
Q. Should I invest in a property in Mirdif?
A. Mirdif is a family-friendly residential community that is popular amongst Emirati and expatriate families. The sprawling community has a wonderful selection of villas and apartments to rent in Ghoroob, Shorooq, Uptown Mirdif and the newly opened Mirdif Tulip. Mirdif Hills is another project that is currently under construction and will be completed by the second quarter of 2019.
The neighbourhood is home to several schools and nurseries as well as numerous green spaces, parks and children’s play areas. In the area you will also find a number of large parks including, Uptown Mirdif Park, Mushrif Park, Al Khawaneej Pond Park and the pet-friendly BarkPark. It also has a lot of retail and F&B options with Uptown Mirdif and Mirdif City Center in the heart of the community and Last Exit only minutes away.
Mirdif is in close proximity to the Dubai International Airport and Rashidiya Metro Station. The community is also easily accessible from arterial highways including Mohammed Bin Zayed Road and Al Awir Road. It is well-connected to the whole city including areas such as Business Bay, Downtown Dubai, Dubai World Trade Centre, and Dubai Festival City.
Q. Is JBR a family-oriented area?
A. Jumeirah Beach Residence (JBR) is a unique and popular mixed-use destination in Dubai that is known for its trendy cafes and restaurants, as well as unique retail outlets. With street markets and a series of ongoing fun and family-oriented events taking place in the area throughout the year, it’s no surprise that JBR is a firm favourite with both residents and visitors to Dubai.
As a residential area, JBR is popular amongst families as there are several nurseries and plenty of safe and open play areas for families to enjoy their time together.
Q. Is it a good idea to buy property in Dubailand/The Villa?
A. Dubailand was named as one of the most popular communities to move into last year by ServiceMarket, a UAE platform for moving and home services.
The destination is an all-encompassing community as it delivers an exceptional combination of world-class leisure, entertainment and sports attractions, as well as family-friendly residential communities. The Villa residential community by Dubai Properties offers stylish 4-, 5- and 6-bedroom villas for sale.
The Dubai Properties communities in Dubailand such as The Villa, Mudon, Remraam, Serena and Villanova span from affordable to luxurious options, each with a distinctive lifestyle offering, and replete with amenities such as schools, nurseries, medical clinics and shopping centres - these communities are tailor-made for families to grow together.
Q. What happens if you can't pay your off-plan property in Dubai?
A. If you are unable to complete the payment of your off-plan property, then the developer has the following rights:
- If 80% of the construction is complete, the developer may keep all the money received from the buyer and sell the unit in Public Auction to recover the payments or the developer may deduct more than 40% of purchase price and cancel the contract.
- If 60% of the construction is complete, the developer may deduct 40% of purchase price and cancel the contract.
- If construction has started but hasn't reached 60%, the developer can deduct 25% of purchase price and cancel the contract.
- If circumstances arise outside of the developer’s control that prevent the completion of construction, the developer is entitled to deduct 30% of the purchase price and cancel the contract.
Q. How do I calculate property value in Dubai?
A. The online real estate portal, Property Finder Group, has developed a free tool for people to be able to calculate the cost of property value in Dubai.
The Rent vs Buy Calculator provides a simple breakdown and analysis of the estimated costs and how much investors can save down the line if they were to purchase property versus renting. You will need to submit your own monthly rent, the price of the property you are interested in, and the number of years you plan on living in the property for the calculation. It also factors in additional fees such as Dubai Land Department fees and VAT charges.
Link to the Rent vs Buy Calculator.
Q. Do people living on rent pay VAT in Dubai?
A. There is no VAT charged on the rent for residential accommodation. However, it is possible that other services are subject to VAT and is either included in the rental agreement. This includes utilities or cooling fees and parking space fees.