A query has been raised regarding the compensation clauses in property agreements in Dubai. Specifically, what can be done if a developer does not deliver a property as per the agreed timeline? Understanding the Legal Framework For those considering an investment in off-plan properties in Dubai, it’s essential to be aware of the legal provisions that govern such transactions. Key regulations include Law...
Question:I’m considering purchasing an off-plan property from a developer in Dubai. What legal steps should I follow before finalizing the purchase agreement? If the property isn’t delivered by the agreed-upon date, can I legally ask the developer to cancel the agreement? Can the property be registered under my name, my wife’s, and our three children? I’d appreciate your guidance. Answer:To...
Are you an expatriate or foreign investor exploring property options in Dubai? Before you make a decision on your ideal home or investment property, it’s crucial to grasp the contrasting concepts of property ownership in Dubai for non-citizens. Prospective property buyers and investors must acquaint themselves with the disparities between leasehold and freehold ownership in Dubai to make an informed...
What we will discuss in this blog: Background: Historically, expats in Dubai could only rent homes. Introduction of freehold properties allowed expats to buy homes. Previously, high property prices made buying difficult. Now, affordable housing and declining prices make buying more feasible. Monthly mortgage repayments can be less than rents. Capital growth on assets is an added...
Dubai, the city of gold, is renowned for its thriving real estate market, offering a plethora of investment opportunities. July 2023 has been a particularly exciting month, with several new property launches that cater to a wide range of tastes. Whether you’re in the market for a grand villa or a chic apartment, the latest properties in Dubai have something for everyone. A Glimpse into the Future: New...
In the last issue we gave an overview of the way in which one can secure UAE residency status through ownership of property in Dubai. The article generated significant interest, particularly among those interested in retirement options, and we therefore thought it might be useful in this article to look at the subject in more detail. Types of Visa – There are various types of visa available to those...
Business Bay, the prime multi-purpose residential, commercial and entertainment destination in the heart of the city developed by Dubai Properties, has been 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, set to shape the city’s urban lifestyle, the locale has been placed...
The Middle East is known the world over for its super-tall buildings. At 828m in height, Dubai’s Burj Khalifa, developed by UAE-headquartered developer, Emaar Properties, holds the current record for the world’s tallest completed man-made structure. WSP | Parsons Brinckerhoff’s Dean McGrail tells James Morgan that, if challenges related to vertical transportation can be overcome, the sky really is...
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