Things To Consider Before Meeting An Developer And Agent In Dubai

Buying or renting real estate is a type of investment that is still very popular today in the Dubai brick market. While internationally property sales are quite similar, what distinguishes this market in Dubai is that the availability of property-related information is more accessible than those of other developed countries where, for example, registration is difficult to access. For this reason, the administrative bodies set up to ensure transparency and eliminate any kind of risk of loss of capital invested in different property operations are a subject of great interest to investors.

This article explains to you what are the key aspects and key steps a foreign investor must consider when he decides to buy a real estate for sale in Dubai or meet and agent and constructor. Of course, it is only a guideline, the main advice, is to analyze each specific operation in detail, using real estate, legal and tax consultancy in order to avoid making irreparable mistakes not only with regard to the process, but also on the verification and negotiation of contract documents.

The importance of an official verification of the developer and the project

The first thing to do if you are considering buying a property in Dubai is to verify that both the developing company and the project are reliable and valid. This can be done through simple research.

As far as the manufacturer is concerned:

• Verify that the developer is registered at the Dubai Land Department (DLD) and is authorized to sell at the construction stage. You can quickly check in the "Approved Developers" section of the DLD site.
• Check track record and developer reputation as regards compliance with delivery terms based, for example, on project-related data.
• Examine the media presence of the developer: newspapers, television, the internet to understand the size of the company.
• Check public domain information and the developer's current status, for example, whether it is involved in any controversy about delivering a project.

Verifying this information is of the utmost importance and is the key criterion for choosing the property investment you want to make in Dubai: the market of real estate for sale in Dubai is in a strong livelihood, so there are many companies involved in the realization of new projects. If you follow these tips you can easily have a comprehensive picture of the company you are investing with.

As far as the specific project is being implemented, there are also quick and reliable checks that can guide you in controlling the reliability of the project you want to invest as well as in the choice itself:

• Verify that the project is being implemented in a freehold zone and therefore has the granting of property rights for non-UAE citizens.
• Make sure that the project is registered with the DLD (Dubai Land Department, our "inventory" evolved to the utmost power and can be completely consulted on-line free) and authorized to the sale and what the state of progress of the construction. You can always do this through the DLD site, under the "Project Status Tracking Service" section.
• Consider the location of the project in terms of convenience and accessibility.

Last general checks

We've seen what are the points to consider when making a check to evaluate buying a property in Dubai, both for the developer and the specific project. Below is the list another set of general controls that is best done before investing your money into this type of transaction:

• Request a title to verify that the developer / seller is the legitimate owner of the property that is being traded.
• Check for any property-related constraints or limitations, for example: occupied land restrictions, lease restrictions, or subsequent sale.
• Verify what rights are granted in relation to the use of the property: purpose of use (residential, commercial, etc), the gross surface assigned to the property and infrastructure present (water, current, broadband).
• Always keep in mind that ownership of the property is confirmed only with the issue of the title of the property, until then the buyer will only have a contractual right.
• In general, as we have seen, all these aspects are really easily verifiable in full autonomy. Dubai's policy of real estate market regulation wants to be absolutely open and transparent to eliminate any kind of risk and to ensure that investors invest in maximum legal protection.

Sarah Feldman is a blogger and a technical content writer. She is currently associated with Digital Express which is a leading web design and development company in Dubai.