العربية
Buying an Emirati property off-plan is one of
he most prominent investment methods when
nvesting in UAE real estate or Dubai real estate.
What is meant by buying a property off the plan?
- Construction companies turn when presenting
- he idea of establishing a real estate complex.
- To sell some properties before starting construction work.
- Even before excavation work begins.
- After developing engineering plans and drawings.
- Which shows the shape and design of the real estate
- omplex and other details.
- Such as the number of buildings and apartments
- istribution, areas and styles.
- In addition to social and security services and determining
- he location and destination of the project.
- A certain number of apartments or shops within
- the project are offered for sale.
- Once the required number is sold, sales stop
- until digging and foundation work begins.
Buying an Emirati property off-plan
Real estate project maquette:
- It is an engineering model that comes in conjunction
- the launch of the project plan.
- After completing the engineering drawings
- it is the turn to materialize the project and provide more accurate details.
- By creating a model that shows the entrances and exits of the project.
- In addition to the number of buildings, their height
- their distribution, the number of floors.
- and the orientation of the apartments
- The views, the destination of the project.
- and some of the landmarks surrounding it.
- such as a highway and others.
Advantages of buying an Emirati property off plan:
- The price of the property offered for sale on the plan is much.
- lower than the price of the ready property.
- The possibility of purchasing the property and paying.
- in multiple ways (cash or installments).
- An opportunity to get an additional discount.
- when purchasing the property and paying in cash.
- Obtaining a concluded and certified contract from.
- the relevant UAE authorities.
- With the aim of guaranteeing the buyer’s right.
- it is also called (a promise to sell).
- The contract constitutes a legal form and document in.
- the hands of the buyer in the event that the construction.
- company fails to deliver.
- The contract specifies the delivery date and specifications of the property, including area, style, and view.
- As well as the location of the property within.
- the complex and on the same floor.
- In addition to the social services provided by.
- the complex’s management.
- The investment value of the property increases as.
- the construction stages move from one stage to another.
- The property value increase rates range from 50% to 300%.
- upon delivery.
Disadvantages of buying an Emirati property off-plan:
- Waiting for a period of time ranging from 3 to 5 years.
- which is the project construction period.
- The investor does not have the right to sell his property to.
- another investor during the waiting period, with the exception.
- of the construction company.
- The possibility of delays in project delivery for several weeks.
- or months.
- Sometimes the specifications and characteristics.
- of real estate within the project are changed in.
- a way that contradicts the agreement and concluded contract.
- The construction company goes bankrupt and.
- thus construction work stops partially or completely.
Buying an Emirati property off-plan
How do I protect myself legally when buying an Emirati property off the plan?
- The contract is the law of the contracting parties.
- Therefore, a contract must be concluded that contains.
- provisions that protect both parties towards each other.
- The investor reads the terms of the contract carefully and objects.
- to any clause that is not in his favor before signing the contract.
- The contract is duly certified by the concerned authority.
- As soon as there is any delay or the property is delivered.
- with different specifications, such as a smaller area or.
- a second property within the complex that was not agreed upon.
- The investor has the right to submit an official complaint to.
- the UAE courts according to the contract signed and sealed by the construction company.
- The judge will then consider the case and rule in.
- favor of the injured party.
- The construction company will be required to return.
- the amounts paid by the investor in addition to compensating.
- him for the losses that resulted from that.
Buying an Emirati property off-plan
Tips when buying an Emirati property off plan:
- Dealing with a reliable real estate consultant in the UAE.
- Note that the Golden Investment Group Company in Dubai.
- provides real estate consulting services.
- Inquire about the name of the construction company.
- and its strength in the UAE contracting market.
- Visit the site of the complex to be built and.
- conduct a tour of its surroundings.
- Inquire from the competent UAE authorities about.
- the status of licenses and taboos.
- Read the contract carefully and inquire about every.
- flaw in it before signing it.
- Authenticate and retain the investor’s copy.
- Visit the construction site at intervals to monitor.
- the progress of construction work and ensure that.
- it is not subject to interruption or delay.
- Request assistance from Golden Group experts in.
- obtaining offers for an off-plan Emirati property from strong.
- and reliable construction companies in the UAE.
