Verity Trust Properties
the Off-Plan Sales
Off-Plan Sales
... the pre-sale during or before the construction phase
Do not search for the right property on your own. We do
that for you! We are your key to sustainable success in Dubai's real estate market! We are your
partners on the journey to outstanding and long-term gains. Get all the information about this
opportunity. We are here for you! We are your ALL-IN-ONE partner for maximum success! This brochure
provides extensive insight into perhaps Dubai's most spectacular real estate investment
opportunity – the Off-Plan Sale.
Buying from the developer, also known as an Off-Plan
purchase, involves acquiring a property that is usually still in the planning or construction phase
and is offered directly by the responsible developer. In an Off-Plan purchase, there has been no
previous owner, and you purchase the property directly from the developer.
We are talking about the most significant potential for value appreciation.
If you're a buyer in an off-plan sale, you
don't have to physically be present at the developer's or notary's office to make the
purchase. Moreover, it's possible to legally purchase a property from any other country. However,
it's crucial to be cautious and choose a reputable and financially stable developer when engaging
in an off-plan purchase. Fortunately, we only collaborate with the most renowned developers, so you
don't have to worry about that. The entire process is handled through us, and there are eight
simple steps to follow for your real estate investment in Dubai.
O1
Inform Yourself
Once you have chosen a property, you will receive all
the necessary information from us. All documents are typically meticulously compiled directly by
the developer.
O2
Reserve the Property
To secure a unit, you will need to pay a reservation
fee. In Off-Plan Sales, this can be done at the project's introduction or launch.
O3
Initial Payment
Typically, you have 7 days to make an initial payment of
10% to 20% of the total price.
O4
Signing the Purchase Agreement
After you have returned the signed purchase agreement by
mail, the developer takes care of all further steps, including the property registration in the
Land Registry at the Dubai Land Department.
O5
„Oqood" Registration
The so-called 'Oqood' document is similar to
the German "Auflassungsvormerkung" and serves as a provisional title deed.
O6
Agreed Payment Plan
Payment plans among developers can vary significantly.
Typically, payments are made in increments of 10% until the key handover.
O7
Title Deed Issuance
After the construction project is completed, the
registration authority automatically sends the 'Title Deed' document via email. Property
transfer in Dubai typically occurs electronically.
O8
Key Handover
A handover protocol is created after the process known
as 'Snagging' (a walkthrough with the developer and a technician through the unit). Any
potential construction defects are documented in this protocol and can be subsequently addressed.
The key's handover typically occurs at the developer's office after all necessary
arrangements and inspections have been completed.
Dubai stands out for its straightforward and hassle-free
process. You only need a few documents, such as:
- Copy of your passport and national ID or driver's license
- Proof of your residential address
- Your email address and phone number (WhatsApp)
01
Inform Yourself
Buying a property in Dubai requires just as much
consideration and care as it does in Europe. It is advisable to research the property you intend to
purchase thoroughly. Create a project folder in which you gather important documents such as floor
plans, project descriptions, and payment plans.
When you decide to make the purchase, it's essential
to prepare the required capital or financing and the documents the developer requested. This ensures
that the purchase process goes smoothly and you feel well-prepared for your new property in Dubai.
02
Reserving the Property
Usually, you will receive an email from the developer
with a payment link to pay the reservation fee. Payment can typically be made using various methods,
including credit cards, bank transfers, and sometimes even cryptocurrencies like USDT or Bitcoin.
When you decide to make the purchase, it's essential
to prepare the required capital or financing and the documents the developer requested. This ensures
that the purchase process goes smoothly and you feel well-prepared for your new property in Dubai.
03
Initial Payment
Usually, you have 7 days to make the initial payment.
This first installment typically amounts to 20% of the purchase price plus a 4% Land Department Fee
(DLD), minus the reservation fee already paid.
The preferred payment method is usually a bank transfer
from a German account. Sometimes, credit card payments may also be accepted.
The purchase price payment goes into the Escrow (Trust)
Account, controlled by the Dubai Land Department. The 4% Land Department Fee goes to the
developer's account, as they handle the registration on behalf of the customer.
It is extremely important to note that failure to make
the payment on time will cancel the reservation, and the already paid reservation fee will not be
refunded. Therefore, adhering to the payment deadlines is of utmost importance.
04
Signing the Purchase Agreement
Signing the purchase agreement typically takes place
several weeks to months after receiving the initial payment. The purchase agreement is sent to you by
mail and consists of approximately 100 pages, each of which needs to be signed by hand. You usually do
not require a notary to sign the purchase agreement. After signing, you can mail the document back to
the developer.
The developer will automatically handle the subsequent
ownership registration with the Dubai Land Department (DLD) on your behalf. The duration of this
registration can vary significantly and depends on the specific project and the responsible developer.
05
"Oqood" Registration
While the ownership is being registered with the Dubai
Land Department, the so-called 'Oqood' document is generated simultaneously, which can be
considered a preliminary ownership record.
This document includes the buyer's personal
information and property details and requires the buyer's signature. The submission can be done
by mail or occasionally by email, depending on the developer's requirements.
The 'Oqood' form is a provisional title deed
until the building's completion. Upon construction completion, it is converted into the actual
title deed, known as the Title Deed.
06
Agreed Payment Plan
Similar to most countries where the broker and developer
regulation (MaBV) governs payments based on construction progress, payments in Dubai are typically
staggered according to the construction project's progress. Typically, payments are made in
increments of 10% of the purchase price until completion.
However, it is also possible for payment plans to vary,
such as a 50% payment upon completion and another 50% payment upon handover. Depending on the
developer's requirements, payment terms may deviate from these standard arrangements, such as
30/70 or 70/30. Some developers even offer post-handover payment plans, allowing installment payments
1-2 years after the key handover.
07
Creation of the Title Deed
After the Dubai Land Department receives the Building
Completion Certificate issued by the Dubai Development Authority, the government agency initiates the
automatic creation of the Title Deed. It is then electronically sent via email. This process has no
physical document, as the land registry is entirely digitized.
It is important to note that at this stage, no further
action is required from the customer, as the necessary steps are the developer's responsibility.
After the completion and payment of the last installment, the newly built property is handed over.
08
Key Handover
Snagging
The developer's chief engineer, the real
estate agent, and/or the customer inspect the premises to identify any construction defects and ensure
that all technical aspects are in order.
Handover Protocol
Following the inspection, a handover protocol is
created to document the inspection results and the property's condition. This protocol can be
prepared either on-site or during the inspection. Some developers use handwritten documentation, while
others use digital tablets. If any defects are identified, they are recorded in a snag list and
promptly addressed.
Electricity / Air Conditioning Registration
At this point, you need to register the electricity
connection for the apartment and deposit a security deposit, typically around 2,000 AED (approximately
€500). Without completing these steps, the key's handover is not possible. If you have engaged a real
estate agent, they usually handle the electricity registration. If the air conditioning costs are not
already included in the developer's operating expenses, you may also need to register them.
Key Handover
Finally, the eagerly awaited key handover for the
property takes place. This typically occurs directly after the snagging process or the resolution of
construction defects at the developer's office.
related to Off-Plan Sales
Additional Costs Overview
When purchasing property in Dubai, the following
acquisition costs are typically incurred:
Reservation Fee: Usually ranging from
€5,000 to €20,000. This fee is typically deducted from the purchase price at a later stage, usually
from the down payment.
4% DLD Fee (Dubai Land Department): This
fee covers the registration in the land registry, similar to the property transfer tax in Germany.
Electricity Connection: Approximately
€500 as a security deposit (security deposit). This deposit is usually refunded when the electricity
connection is canceled.
Postal Costs: About €100. These costs
may apply if you send the purchase agreement from Europe.
In summary, the ancillary purchase costs
amount to about 4% of the purchase price, plus a 2% handling fee
official Start
Purchasing a Property at Launch
The 'launch' of a construction project is
always a special event. On this day and at that exact time, the sale of units in a construction
project is made public. Several hundred units are often sold within a few hours, and sometimes even
the entire construction project is sold out.
During launch, priority is given to speed and follows a 'first come, first serve' basis.
It is advisable to inquire in advance about the planned payment schedule and other important information, such as floor plans, the interior specifications of the property, and the expected completion date.
Especially in the real estate market of the United Arab Emirates, it is noteworthy that sometimes, even the exact purchase price is not disclosed before the launch. However, based on past experiences with the respective developer, you can estimate an approximate price range in advance.
But don't worry, that's exactly why we're here! Through our direct collaboration with the best developers in Dubai, as a community member, you have access to all the information on time. With us, you're in the front row.
During launch, priority is given to speed and follows a 'first come, first serve' basis.
It is advisable to inquire in advance about the planned payment schedule and other important information, such as floor plans, the interior specifications of the property, and the expected completion date.
Especially in the real estate market of the United Arab Emirates, it is noteworthy that sometimes, even the exact purchase price is not disclosed before the launch. However, based on past experiences with the respective developer, you can estimate an approximate price range in advance.
But don't worry, that's exactly why we're here! Through our direct collaboration with the best developers in Dubai, as a community member, you have access to all the information on time. With us, you're in the front row.
Do not search for the right property. We do that for you!
Together, we can unlock the door to sustainable success in Dubai's
real estate market. Let us be your trusted partners on the journey to achieving your long-term gains.
Get all the information you need to make your dreams a reality. We are here for you! We are your
ALL-IN-ONE partner for maximum success!
What we can offer you
we are your All-In-One Partner in Dubai
In Dubai, there are many exciting opportunities for real
estate investments. Gain access to them all with us.
First-Class Properties
In prime locations with
attractive appreciation potential
Learn more
OFF-PLAN Sales
Pre-sale of unique real estate
investments, even before the construction phase begins
Learn more
Secondary-Market
Properties that are often
already occupied by a tenant.
Interesting offers for long-term investment.
Interesting offers for long-term investment.
Learn more
Financing Models
By offering customer-friendly
financing models, you are able to
invest in Dubai even with smaller amounts.
invest in Dubai even with smaller amounts.
Learn more
Over 30 years of experience in the field of developers, brokers, and real estate
consulting.
Over €1 billion in revenue in the German-speaking region alone.
Best access to top projects in Dubai.
You buy directly from selected developers with the highest construction quality.
Best terms through bulk deals.
We invest successfully in the properties offered in Dubai ourselves.
Customized offers for you Buy-Sell-Manage Company formations Assistance with visa applications, second residences, and company formations through our international network of legal and tax experts.
Therefore, we are your ALL-IN-ONE partner for long-term success!
Over €1 billion in revenue in the German-speaking region alone.
Best access to top projects in Dubai.
You buy directly from selected developers with the highest construction quality.
Best terms through bulk deals.
We invest successfully in the properties offered in Dubai ourselves.
Customized offers for you Buy-Sell-Manage Company formations Assistance with visa applications, second residences, and company formations through our international network of legal and tax experts.
Therefore, we are your ALL-IN-ONE partner for long-term success!
Verity Trust Properties
We are committed to excellence and pay attention to every detail. We carefully
select the best locations and design luxury properties that set new standards. At Pearl Horizon
Properties, we aim to provide you with more than just a home; we strive to create a lifestyle.
We believe in the power of partnership! When you choose us,
you're not just selecting a real estate agent but a partner who is passionately dedicated to
your success. Our expert team ensures that every decision you make is built on a solid foundation.