Legal Foundations of Purchasing Off-Plan Property

Investing in real estate abroad can be a daunting task, especially when it comes to understanding the legal intricacies. However, at Dream Royal, we recognize the importance of a thorough understanding of the legal foundations when purchasing off-plan property in the United Arab Emirates (UAE). Let’s delve into the key legal aspects you should consider when buying off-plan property in the UAE.

Freehold Property Laws

The UAE is one of the few nations in the region that offer foreign investors freehold property rights. Introduced in 2006, this legislation allows foreign nationals to fully own property and land within the UAE. This law permits the purchase of property in designated areas known as “freehold areas”.

Long-term Lease

For those not ready to fully own property, the UAE also offers long-term lease alternatives, referred to as “usufruct” or “musataha” agreements. These allow the leaseholder to use the property for a term up to 99 years, offering a viable choice for those seeking long-term investment opportunities without full land ownership.

Purchasing Off-Plan Property: The Process

Buying off-plan property in the UAE involves various steps, starting from selecting a property and signing a reservation agreement with the developer to finalizing a sales and purchase agreement (SPA) and registering your interest at the Land Department. At Dream Royal, we ensure this process is as smooth and hassle-free as possible.

Costs and Payments

The cost of purchasing off-plan property in the UAE typically includes reservation fees, down payments, stage payments according to construction progress, and other fees detailed in the SPA. At Dream Royal, we ensure full transparency of all costs involved in your purchase.

Support at Dream Royal

At Dream Royal, we believe our role extends beyond property sales. We aim to make every client feel confident and comfortable throughout the purchasing process. We offer a comprehensive range of services, supporting you with all legal, financial, and administrative matters that may arise during your property purchase in the UAE.

Investing in off-plan properties in the UAE can be both lucrative and reliable thanks to the stable economy, high standards of living, and attractive investment opportunities. At Dream Royal, we’re prepared to assist in fulfilling your investment plans and ensuring a flawless property purchase process in the UAE.