Features of buying an apartment in Dubai

The process of buying an apartment in Dubai has both similarities and differences with the procedure adopted in Russia. In general, this is not at all as difficult as it might seem at first glance. After reading the article to the end, you will see this for yourself.

What is the procedure for buying an apartment in Dubai?

The procedure for purchasing real estate in Dubai includes the following steps:

Selection of a suitable object.

When choosing an apartment, apartment or villa, you need to take into account that for foreigners of non-Arab origin, purchasing real estate is only possible in a certain area. We are talking about the so-called Freehold zones, or Free Zone, where real estate is acquired as absolute property with all the ensuing rights.

Only under this condition can a foreign citizen not only use and own real estate in the UAE, but also dispose of it: sell, donate, lease, inherit.

Preparing for the deal.

At this stage, in addition to making a deposit, which is customary for Russians, it is customary in the Emirates to conclude a Memorandum of Understanding and issue a No Objection Certificate (NOC).

The Memorandum, otherwise known as Contract F, records the transfer by the buyer of the deposit and the terms of the future transaction. The NOC certificate is issued at the developer’s office and confirms that the latter has no financial claims against the seller.

Signing the purchase and sale agreement and registering ownership.

The purchase and sale agreement is signed in two languages: Arabic and English. It does not require mandatory notarization. The main points of the contract are the same as for the sale of real estate in Russia. They should reflect:

  • address of the property;
  • its cost;
  • the procedure for settlement between the parties involved in the transaction;
  • conditions and terms of transfer of real estate.

When purchasing housing under construction, the contract additionally specifies the deadline for completion of construction and the responsibility of the developer for failure to deliver the house on time.

The transfer of ownership is registered by the Dubai Land Department (DLD). He also issues the buyer a Title Deed to confirm the fact of registration of the property.