Real Estate Terms : Navigating Through Dubai Reality Landscape

Dubai Real Estate has emerged as an attractive investment opportunity hub for local and foreign investors. However, it’s not as simple when you’re a complete freshman to the complicated world of real estate. Here’s a list of frequently used terminologies in Dubai real estate to help you achieve a better understanding

?Freehold:

Ownership of the property and the land on which it stands indefinitely, with no time limit.

Leasehold:?

Ownership of the property for a specific period, usually 99 or 999 years, after which it reverts to the landlord.

Off-Plan:

?Properties that are still under construction or development and are sold before completion.

Title Deed:?

Legal document confirming ownership of a property.

NOC (No Objection Certificate):?

A document issued by the developer or landlord allowing the property owner to carry out specific activities, such as modifications or selling the property.

Escrow:

?A third-party account where funds are held during the property purchase process to protect both the buyer and the seller.

Property Transfer Fee:?

A government fee paid upon transferring ownership of a property.

RERA (Real Estate Regulatory Agency):?

The regulatory authority responsible for overseeing the real estate sector in Dubai.

Service Charge:

Fees paid by property owners for maintenance and management of shared facilities and common areas in a building or community.

ROI (Return on Investment):

The percentage of profit or loss generated from a property investment relative to its cost.

Capital Appreciation:

Increase in the value of a property over time.

Gross Yield:

The annual rental income generated from a property as a percentage of its purchase price.

Net Yield:?

The annual rental income is generated from a property after deducting expenses as a percentage of its purchase price.

DLD (Dubai Land Department):

?The government entity responsible for registering real estate transactions in Dubai.

Power of Attorney (POA):?

A legal document that gives a person or entity the authority to exercise power on the property owner's behalf.?

Marina:

Refers to Dubai Marina, a popular waterfront development in Dubai.

JBR (Jumeirah Beach Residence):?

A beachfront community in Dubai known for its high-rise residential towers.

Downtown Dubai:?

The central business district and home to iconic landmarks like Burj Khalifa and Dubai Mall.

EPC (Energy Performance Certificate):?

A certificate that assesses the energy efficiency of a property.

Having a good grasp of these terms will help you gain an improved

understanding, giving you the confidence to easily explore the market. Prioritize thorough research, consult a reputable company or agent, and of course exercise due diligence before sealing any deal. Embarking on a journey of Dubai real estate can be an exciting experience for investors, sellers, and realtors alike.?

Syeda Rija Murtaza | July 2023 | Rare Homes Real estate