Frequently Asked Questions
1. What is an off plan property??
A property sold before or during construction, bought based on plans, with staged payments and handover upon completion.
2. Can foreigners buy off plan properties in Dubai?
Yes — non-residents can purchase in designated freehold areas and own property without a visa.
3. What documents are required?
Valid passport, SPA (Sales & Purchase Agreement), proof of funds, and for residents, Emirates ID.
4. How are payment plans structured?
Often include a 10–20% down payment, followed by developer linked milestone installments, with some post handover options.
5. Is my money safe?
Yes — funds are protected via RERA regulated escrow accounts, developer bank guarantees, and performance guarantees.
6. Can I resell an off plan property before handover?
Yes — usually after paying 30–40% and obtaining a developer NOC; resale is registered via Oqood.
7. Are mortgages available for off plan units?
Yes — banks may offer up to 50% financing depending on the developer’s tier and project approval.
8. What additional fees apply?
Buyers typically pay a 4% DLD transfer fee, a registration fee (AED 3,000 for Oqood), service charges, and sometimes agency or admin fees.
9. What risks exist and how are they mitigated?
Risks include delays, insolvency, or mismatch to promotional material. RERA laws, escrow protection, and credible developers mitigate these risks.
10. Can I invest remotely?
Yes — off plan purchases can be made online, with legal documents and SPA executed remotely.