Dubai’s real estate market is highly growing, and townhouses have now become a favored option for homebuyers who are looking for a balance of space and community living along with ensuring intimacy. At the same time, with more modern designs, various amenities, and expansive layouts, townhouses appeal to the needs of the modern buyer. Whether you’re an investor seeking an attractive opportunity or a family looking for a new house, off-plan townhouses in Dubai can be an ideal option. This guide will introduce you to the top off-plan townhouse projects around town, and this will help guide your decision making. Why Off-Plan Townhouses? Off-plan properties are those that one purchases before construction is complete. Many investment opportunities appeal for several reasons: Price Appreciation: Off-plan properties experience appreciation in value by the time they are completed, putting them as a lucrative investment. Flexible Payment Schemes: Generally, developers give buyers the chance to pay through flexible payment schemes to reduce financial burden. Choices in Customization: Many offer the opportunity to have customization on your homes based on personal tastes. Contemporary Facilities: State-of-the-art facilities, parks, and other community amenities usually available in new developments, making it convenient for high standards of living. Top Off-Plan Townhouse Projects in Dubai Dubailand Dubailand is a large freehold property area that covers more than 3 million sq. ft. Strategically located near major roads, such as Emirates Road (E611), Al Qudra Road (D63), and Sheikh Mohammed Bin Zayed Road (E311), it provides easy access to city centers and attractions like the Dubai Miracle Garden. Key Features: Green spaces, restaurants, retail outlets, and swimming pools are abundant. 2 to 6-bedroom townhouses designed for modern living. Project Name Unit Type (Bedrooms)Starting Price (AED) Handover Date DAMAC Sun City 4-5 2.3M Q1 2028 Reportage Village 2, 3 & 4 1.5M Q4 2027 Taormina Village 3 – 4 2.9M Q4 2027 Haven 3 & 4 2.5M Q3 2027 La Violeta 3 & 4 1.45M Q1 2028 The Valley Developed by Emaar, The Valley is an iconic community designed to provide residents with an upscale lifestyle. The development includes large green spaces, sports facilities, and a 47,000 sqm Golden Beach, making it an ideal location for families. Key Features: A meticulously planned community with extensive recreational facilities. Predominantly townhouse offerings with a variety of sizes. Project Name Unit Type (Bedrooms) Starting Price (AED) Handover Date Velora 2 3 & 4 2.93M Q3 2028 Venera 3 & 4 2.48M Q3 2028 Nima 3 & 4 2.1M Q3 2027 Alana 3, 4 & 5 3.5M Q2 2027 Nara 2, 3 & 4 1.34M Q4 2024 Jumeirah Village Circle (JVC) JVC is strategically positioned near Dubai Marina and Jumeirah Lake Towers, and direct access to major roads makes it accessible. The community sprawls over around 870 hectares and consists of a mix of residential units, parks, and recreational facilities. Key Features Almost 2,000 residential units surrounded by parks and canals. Various townhouses suited for different family sizes. Project Name Unit Type (Bedrooms) Starting Price (AED) Handover Date Marwa Homes 4 3 3.56M Q4 2024 Ashton Park Residences 3 649.25k Q1 2025 Grand Glow 4 – Q4 2027 The Autograph S Series 1 754k Q4 2027 Dubai South Developed in 2006, Dubai South is a master planned city covering an area of 145 sq. km. The community is positioned close to the border of Dubai – Abu Dhabi. Al Maktoum International Airport is located in this community along with several other hubs for logistics, residential, commercial, and leisure activities. Key Features Well-segmented community with different zones for residencies. Huge townhouses with modern amenities. Things to Keep in Mind While Buying Off-Plan Townhouses Developer reputation: Conduct background checks on the developer’s previous track record for delivering projects within time and in good quality. Location: Determine the location from the point of accessibility to schools, hospitals, and other shopping centers. Community Amenities: Choose a development that is offering community amenities such as parks, recreational facilities, and security. Resale Value: Think about whether the property can appreciate in the area, considering you may be selling in the future. Payment Plans: Take a look at the payment terms and ensure that they fit into your financial circumstances. Project Name Unit Type (Bedrooms) Starting Price (AED) Handover Date Greenridge 3 & 4 2.9M Q4 2028 Greenville 3 & 4 3.2M Q1 2029 Greenway 3 & 4 3.15M Q2 2028 South Bay 1 3 & 4 2.9M Q1 2025 Frequently Asked Questions Is it worth buying off-plan property in Dubai? Off-plan properties appreciate so much more by the time they are complete, making it a good long-term investment. Is it good to buy a townhouse in Dubai? Townhouses are relatively affordable, offering ample space and privacy for families, as compared to other property types. Can I get a loan on an off-plan property in Dubai? Yes, buyers can get a mortgage for off-plan properties in Dubai, though the terms vary between lenders. Conclusion Investment in off-plan townhouses in Dubai is an opportunity for future homeowners and investors. With projects all over the beautiful areas of Dubailand, The Valley, Jumeirah Village Circle, and Dubai South, buyers will find a diverse option to choose from. With much deliberation and good research, one will find his perfect townhouse that fulfills his requirements according to lifestyle. Whether looking for a house to raise children in or investment purposes, this energetic Dubai property market has an offer for anyone.
Dubai has emerged as an international investment hub in real estate; it is attracting many investors from different corners of the globe. Amongst all the prospects, off-plan properties are significant in the rapidly growing real estate market of the emirate. These properties may be purchased relatively cheaper before their completion, and thereby, there would be much scope for investment, and it can even lead to increased growth in the market. However, a Sales and Purchase Agreement, or SPA, is very important to smoothen the transaction process and protect the interests of buyers and developers. Let us discuss the role of SPAs in off-plan property purchases in Dubai and how they help to smoothen the process. What is a Sales and Purchase Agreement? A Sales and Purchase Agreement, shortened as SPA, is the official document that enumerates the mutual terms and conditions of the sales transaction between homebuyers and developers. By doing so, it becomes the security for two parties because obligations, payment terms, and rights were well defined on the paper. Thus, SPAs were known to reduce possibilities of disputes which bring clarity as well as a sense of security into the given transaction by discussing clear terms previously. In this respect, it increases the compliance level towards the rules; thus, this is one of the most vital areas in the off-plan property sector. Elements of SPAs Both the buyer and developer must know elements of an SPA. The parts that help the parties include identification of parties that indicate who is the buyer and who is the developer so there will be the recognition and liabilities are covered with legality. Property Details: It describes the location, size, and special features of the property so that the buyers know exactly what they are buying. Cost and payment plan: It provides the total cost of acquisition and how much one would pay over what period. Thus, a buyer gets to know what they owe in advance. Handover Completion Date: This explains when the person is expecting the handover and includes conditions and terms if the handover is delayed with off-plan property. Conditions Before Agreement: It shows all the conditions like approvals or permits that are needed before the agreement is agreed upon. Rights and Obligations: It makes it clear to both the buyer as well as the developer that they are aware of their rights and obligations, which brings in confidence and clarity. Conflict Resolution This is how most disputes should actually be resolved-thereby passing the matter forward to mediation and arbitration so as to ensure its fairness. Roles of SPAs in Off-plan Sales For the off plan property industry in Dubai SPAs are always a critical element. Listed below are key ways through which they impact transactions. Reduction in Buyer Risk As is true in most off-plan investments, with risk involved: delayed or even canceled projects. Again, this does not help unless there is the best form of SPA for there to be clarifications on time, including solutions when necessary in case non-compliance does arise. Thus, buyers are very assured. Less Uncertainty It is the word of transparency when it comes to real estate transactions. SPAs increase transparency because they oblige developers to disclose all details regarding the project. This makes buyers align their expectations with the scope and timeline of the project, thus lowering the chances of misunderstanding or disappointment. Legal Security SPAs provide much-needed legal protection to buyers in the constantly evolving real estate market of Dubai. If the developers default, the SPA will provide a legal means through which the buyers will be covered, thus giving buyers an avenue for justice and compensation, if needed. Financing Support Off-plan property financing also is crucial to SPAs. The details in the deal are what determines the lender’s decision, thus it makes it easier for the buyer to get the money needed for investment. Building Trust A defined and clear SPA will serve as the bed of trust for the buyers and the developers. Collaboration and communication will therefore be achieved because specification on obligations and expectations is indicated when giving the project while creating a simple base for more collaboration between parties. Conclusion With numerous off-plan investment opportunities in Dubai, SPAs have become a must-have for both buyers and developers. In the context of off-plan property purchases, a Sales and Purchase Agreement plays an important role since it offers a legal framework to safeguard both parties from the risks associated with the investment. Hence, terms and conditions of an SPA are significant in terms of risk mitigation and ensuring transparency during the transaction process. The operation of one’s application of SPAs towards the off-plan purchase in any quick-moving Dubai real estate market could be much more sensible if such is properly grasped. Surely, it works to the reason well, though-basically it would make quite sense having this safety factor and guarantee-that plainly and naturally speaks to making a process more approachable when using a smooth transaction. Now find one of these different types of property to buy off plan, whether real estate, to gain big returns in income through returns from any one of the property type for immediate residence. With correct information and safeguards to match your investment journey in Dubai may prove rewarding and safe. Q&As What is an easy way that an SPA could prove its validity in Dubai? Buyers can verify the SPA through the official website from Real Estate Regulatory Agency or Dubai Land Department against project registration. What are the primary characteristics of SPA in off-plan property sale? The primary characteristics of an SPA are a payment structure, purchase price, and details about parties concerned. Can the SPA be changed after it is signed? Yes. The signed SPA may be modified if both parties agree to the modification after signing, thus implying flexibility and adaptability.
As at June 2023, the United Arab Emirates had already introduced a federal corporate tax of a standard rate of 9% in its endeavor to shift from the earlier stance of ‘no corporate tax’. Its intention is standardization of UAE tax laws so that it stands on par with the rest of the global best practices by offering a structured framework to do business in the region. As of January 2025, DMTT continues to be a feature that is designed to mold the corporate tax landscape for large multinational companies. The article decomposes what all these changes mean for businesses in the UAE. UAE Corporate Tax: Overview This is a new taxation regime; it is in such a manner that it imposes the lowest compliance cost on businesses that is transparent and accountable. The corporate tax domain had some important announcements prior to the introduction of this, like guidelines for the preparation of financial statements and specific exemptions. All corporate business activities from June 1, 2023 will attract corporate tax. Profit is expected to be reported according to accounting standards accepted globally. The Federal Tax Authority controls the implementation and collection. Important corporate tax updates for 2024 Integration with UAE Pass App You can now access the FTA portal only through the UAE Pass app linked to your Emirates ID. This further enhances security to the point that no tax-related activities – from VAT to refunding taxes in case of a lost device or malfunctioning application – can be accessed without various requirements placed on the tax activities. Registration for Corporate Tax has been streamlined. Registration of Corporate Tax has become easier now. Before, a business had to file a new formation document for registration. The FTA has rectified the situation and done away with the preliminary step so that registration can be hastened. Procedure for Deregistration There is a new rule about closing shop for businesses. Businesses must file a tax return for the period of their operation and then deregister from the corporate tax system. New Payment Option: GIBAN The UAE had already issued GIBANs for corporate tax purposes but not of the same type as those that had been issued for VAT. Businesses will receive notification stating the new GIBAN details to be used for all corporate tax payments. Who is Liable to Corporate Tax? Corporate tax is applicable on Business and individuals carrying out business activities under a valid commercial license. Free zone enterprises that may also be eligible for specific tax reliefs. Ordinary trade carried on by foreigners in the United Arab Emirates. Banking, real estate, and construction businesses. Impact on Free Zone Businesses Free zone companies are liable for the corporate tax regime and administrative requirements. A Qualifying Free Zone Person is qualified to pay a zero percent corporate tax rate on qualifying activities. However, revenue outside of qualifying activities or that exceeds 5% of total revenue or AED 5 million will attract a standard rate of 9%. Penalties for Non-Compliance Failure to observe tax laws incurs massive fines in case of a business as follows: First non-compliance violation of record keeping: AED 10,000; consecutive offenses: AED 20,000. Submission of papers not in Arabic: AED 5,000. Month after month if the tax returns are not submitted or taxes paid: increases subsequently. Tax rate and exemptions: Profits up to AED 375,000 are taxed at 0%, and the standard corporate tax rate is 9%. The tiered system is designed to encourage small businesses and startups. Companies subject only to corporate tax must have a turnover exceeding AED 1 million in a calendar year. Some of these firms, mostly extractive industries firms and local governments, are exempted from corporate tax while the dividends and capital gains arising from qualifying shareholdings are exempted from taxes. DMTT There is a domestic minimum top-up tax in this tax law. Beginning January 1, 2025, large multinational enterprises (MNEs) will be taxed on profits with consolidated global revenues of $793 million or more with a minimum tax rate of 15%. This measure has been in alignment with the OECD’s Base Erosion and Profit Shifting Project (BEPS) to offset the impact of globalization and digitalization. Conclusion Once the United Arab Emirates adopts corporate tax, business needs to get familiar with the new tax regulations and compliance requirements. That does not change the fact that the UAE is an attractive destination for entrepreneurs, but the understanding of implications of corporate tax is important for good financial decisions. The recent changes are trying to bring more transparency into taxes and bring the UAE in line with international standards, paving a way for sustainable economic growth. An established entrepreneur who wants to extend or build a business in the UAE will have to keep up with the changes in tax rules for long-term success. FAQs Will Individuals Be Taxed? A corporate tax on companies that function within the United Arab Emirates if their turnover passes AED 1 million while employment, real estate, and investment returns will be not taxable without licensing. Do Withholding Taxes Apply? There will be no with-holding taxes levied both locally and cross border to allow a foreign investor, pay only at source for activities operated in the United Arab Emirates. Are Companies Allowed to Register as a Single Tax Entity? Yes, the UAE corporate tax law also allows for loss utilization rules where companies are allowed to be registered as a single tax entity and apply for relief as a group.
Known for innovation and luxury in the real estate landscape, Dubai has constantly trended to push the limits of urban living. More announcements for expansions within the city will also bring a string of top-notch property launches to suit diverse lifestyles and investment options in January 2025. From the investor looking to hunt for high potential prospects to owners looking for that dream home, the following new launches will really bring out the best in Dubai architectural brilliance and community living. New Apartment Developments Ellington Cove Developer: Ellington Properties Location: Dubai Islands A Property Types: 1 to 4-bedroom apartments Handover Date: Q2 2028 Ellington Cove is the first beachfront residential development by Ellington Properties in Dubai Islands. The 1 to 4-bedroom units will be designed with modern aesthetics and luxurious finishes. The building has state-of-the-art amenities such as a fitness center, yoga studio, swimming pool, and landscaped gardens. It is strategically located close to the DIFC and Dubai International Airport, making it an ideal location for residents and commuters. Guzel Towers Developer: Tiger Properties Location: Jumeirah Village Triangle (JVT) No. of bedroom: Studio, 1 and 2 Beds Approx Handover Date : Q2, 2027 Guzel Towers will be an elegant residential development with 34 Floors. The high-rise tower is quite proud, providing superb access to the gardens, supermarkets, schools, among other places to dine. Emaar Modern design with greater community orientation is attractive to young couples and young families. Emaar South Golf Acres No. of Beds: 1 to 3 bedrooms including 3 Bedrooms townhouse by Emaar Properties Handover Date: Q4 2028 Golf Acres is a haven of peaceful living and luxurious facilities. It is positioned alongside an 18-hole championship golf course, offering its residents state-of-the-art design that lets them enjoy breathtaking views of lush landscapes. Dubai-Al Ain Road ensures proximity to key areas such as Expo City Dubai and Al Maktoum International Airport. Hillsedge Developer: Emaar Properties Location: Dubai Hills Estate Property Types: 1 and 2-bedroom apartments Anticipated Date of Handover: Q1 2029 Hillsedge is a contemporary place to live with upscale amenities such as a swimming pool, play courts, and a well-fitted gym. It is strategically placed along Al Khail Road (E44) that services working professionals going to Downtown Dubai and Business Bay. Binghatti Haven Developer: Binghatti Developers Location: Dubai Sports City Type of Properties: Studio to 3-bedroom apartments Approximate Date of Handover: To Be Announced Binghatti Haven It comprises 501 residential units equipped with opulent facilities, including aqua pools for adults and kids, jogging tracks, and sports courts. It is perfect for families interested in a sporty lifestyle with the excitement of a community life. Samana Resorts Developer: Samana Developers Location: Dubai Production City (IMPZ) Types of Properties: Studio, 1, and 2-bedroom apartments Preliminary Date of Handover: Q2 2028 There is great charm with private pools in each apartment at Samana Resorts. Outdoor cinemas, open spaces and, of course, family suitability for those that have time are provided. Cove Edition 4 Imtiaz Developments Dubailand Types of Properties Studio, 1, 2 bedroom apartments Proposed Handover Date Q4 2026 Cove Edition 4 makes the most of space with fashionable finishes and trendy layouts. It is sited in the heart of Dubailand, with excellent connectivity to Dubai Silicon Oasis and Academic City, among other premium amenities such as a pool and fitness center. VERDAN1A Developer: Object1 Development Location: Dubai Land Residence Complex Property Types: Studio, 1, and 2.5-bedroom apartments Tentative Handover Date: Q1 2027 Verdania is one of the development plans for the purpose of growth and renewal. The apartments here are very thoughtful for families. This community attracts more people since it is close to schools and other healthcare facilities. Rena Developer: Avenew Development Location: Dubai Islands Properties: 1 to 3-bedroom apartments, 2 bed duplex townhouses, and 2 bedrooms penthouse Expected Date of Handover: Q2 2027 She has a seven-tower floor with an amazing view of the ocean and good provisions like a bar above the roof pool and a walkway that leads out to the ocean, an experience for the comfort and luxurious side of living well. New villa projects Bo Monde Developer: Majid Al Futtaim Address: Tilal Al Ghaf Type Property: 6 and 7 bed-room mansions Approx Handover Date TBA Bo Monde – luxury mansions offer serene lagoons and landscaped parks. Qualities offered are spacious layouts and modern finishes targeting families looking for a quiet but connected lifestyle. Amenities include resort-style amenities with a beach club and fitness center. Frequently Asked Questions What area is the best new property launch in Dubai for January 2025? Dubai’s real estate market is blooming. New developments pop up with new needs and budget requirements to fit every client’s needs. Popular locations for off-plan new properties include Dubai Islands, MBR City, and Emaar South. Did new launches take place in Abu Dhabi? Indeed, Ohana Development and Jacob & Co. have launched Jacob & Co. Beachfront Living by Ohana in Al Jurf, Abu Dhabi. The beach-view apartments and villas will be delivered Q2 2028. Are there new apartments coming to the market in Abu Dhabi? Of course! Modon has finally unveiled Nawayef Park Views, the first freehold apartment development on Abu Dhabi’s hip Hudayriyat Island. Low-rise buildings are to be sold with one-to-four bedroom apartments to interested buyers. Conclusion New property launches in Dubai for January 2025 are interesting, and this will be an actual opportunity for any investor or buyer. This is seen in how the developments have reflected commitment towards luxurious living and design innovation across the wide spread of residential to commercial options. Come and explore what is set to change the skyline here – your dream property awa
Finance has never been as vibrant as it is today. Technological advancements are transforming everything from how to further relate nations, trade, and secure financial transactions. One initiative at the very forefront of this onslaught is Project Aber: the innovative collaboration between the UAE and Saudi Arabia working towards revolutionizing cross-border payments with digital currency. Project Aber was launched in 2019 as part of the step towards financial integration, technological progress, and deepened economic cooperation between the two countries. This blog will try to elaborate on the core components of Project Aber, including its aims, outline, and accomplishments. What is Project Aber Abu Dhabi? Project Aber was initiated as a collaborative effort from both the UAE and Saudi Arabia to ascertain the development of shared digital currency. Aber is built for both domestic as well as cross-border transactions and aims to look forward towards modernizing the payment systems between the two countries through the adoption of Distributed Ledger Technology. It views the potential for a Central Bank Digital Currency that would facilitate frictionless financial transactions in a way that reduces friction and increases speed and security in cross-border trade. In essence, Project Aber is an investigation into the ability of digital currencies and DLT to alter financial ecosystems forward. Using innovative technology, it looks to solve some of the most pressing challenges associated with cross-border payments: inefficiencies and security concerns. It aims to create a digital currency that will not only enhance bilateral trade between the UAE and Saudi Arabia but also lay the foundation for further financial integration in the GCC region. Project Aber Abu Dhabi Objectives There were quite a few top-level objectives behind starting Project Aber and now guiding its development since its launch: Project Aber: For understanding the possibility of using DLT practically to benefit financial systems, the core objective was how DLT can be practically used and can improve financial systems. A large number of research and development have been done on how DLT would be helpful to enhance transparency, security, and efficiency of the transactions. Cross Border Payment Upgradation: Traditionally, the interbank payment system has not succeeded well. Majorly in case of cross-border payments. Regarding this problem an effort towards that solution is given with the appearance of a digital currency solution put forth by Project Aber. That should make fast payment easier between UAE and Saudi Arabia by cutting the costs associated with these settlements besides decreasing time required to be taken by these cross border settlements. Benchmarking to International Standards: All the efforts in Project Aber were targeted toward the evaluation of findings and methodologies of the same in comparison to that of international levels within the CBDC project. Hence, this project looked toward benchmarking from the international standard for ensuring that developed solutions could readily scale up across different regions. Structure of Project Aber Abu Dhabi Project Aber has three phases through which the actual tests and grooming would be tried towards the fantastic ends of being achieved: There will be straight contact with Saudi Central Bank, UAE Central Bank to have transaction direct between those two nations to test and put it to strict functional and secure checks of its digital currency by using it within cross-border settlements of the said two nations. Domestic Settlement between the Two Countries The testing of the digital currency was to be done in the domestic transactions between the two countries. This included three commercial banks from the UAE and Saudi Arabia, which both helped to determine how the digital currency would work in a real banking environment. Cross Border Transactions Between Commercial Banks The last phase of the project determined whether commercial banks from each country would use the virtual money in conducting cross border transactions. This entails identifying and detailing its application toward more dispersed implementations within the two commercial banks’ operational setup of handling cross border payments. Key Features of Project Aber Several differentiating features distinguish Project Aber from other digital currency initiatives, which may contribute to the uniqueness and success of this venture: Active Role By Commercial Banks Six commercial banks participated in the initiative, three from each country. Commercial banks played an active role in the design and testing of the digital currency. Their role was helpful since the development was based on practical and real banking needs, and simultaneously, it helped find potential risks and areas for improvement. The Other Special Aspect Of Project Aber Design Is Decentralization. The project allowed the flexibilities, scabilities, and security needs for participating banks while distributing the infrastructures of this digital currency in various nodes to ensure it reduces the risks brought about by a centralized control element. Liquidity Problem The huge liquidity problem depicts the cross border payment as quite a few banks need to carry gigantic Nostro accounts that entail. Project Aber would bring some relief in respect of this much needed and painful liquidity burden that would erect much more effective and efficient very cheap cross border system and harmonize money movements between two banks. Guiding Principles of Project Aber Several guidelines are presented by the principles behind developing Project Aber: Active Engagement of Commercial Banks: Commercial banks were engaged at all the stages of development project right from technical development to business implementation on close consultation basis. Such co-operation served to meet the pragmatic needs of both central as well as commercial banks. Real money: Real money was used on the testing side. All this was making a real money contribution to the process. This, in turn led to the thought of introducing realism into the process. This however ensured the fact that apart from working just fine, this system will just work with any ready payment infrastructure as already in existence such as through RTGS systems. Commitment to Security and Efficiency: Considering the risks in the case of cross-border transactions, security and efficiency were more or less at the front of designing the project. Cybersecurity was highly strict at each step, considering the fact that digital
For decades, the UAE real estate market, and Dubai in particular, has been one of the primary destinations for property investors, both locally and internationally. The most attractive opportunities in this market are presented by off-plan properties, those being sold before the construction of a project is complete. Investors buy these properties expecting to make even more money when the prices rise at project completion. But if you want to sell the off-plan property, then what do you do? Do you sell and how? This is rather common in the UAE where one sells an off-plan property even before its completion. The process is called “assigning” or “flipping” of the property. However, it involves certain conditions, legalities, and financial considerations that should be understood pretty well. So, let us dive deeper into the process involved in selling off-plan properties, key considerations, and steps to effectively complete the deal. What is an Off-Plan Property? Off-plan refers to the purchase of property before the construction is complete. It is a very trendy investment for investors who buy these properties at relatively lower prices, expecting that the price will go higher once the building is ready. Such properties can be very promising returns, mainly in fast-growing regions like Dubai. The sector for real estate here is very attractive. Most of them hold until completion to achieve maximum value; however, some may sell off before its completion. One may even sell off-plan property even before getting ready for occupation. This could enable the seller to bag an excellent profit, if conditions within the market prove favorable. Off-Plan Properties Can Be Sold Pre-Completion Indeed, one may sell off-plan real estate before the time the house becomes ready for occupation, but any actions taken are bound by regulation, legal measures, and other financial steps. The preconditions may consist of acceptance on the part of the real estate developer, execution of payment steps, and all necessary registration steps are carried out appropriately, which makes the sale transaction valid and final. This comprises such considerations as some of the keys with respect to sale in off-plan property in Dubai or else where in UAE: Important Considerations in Selling Off-Plan Property Before Completion Developer’s Approval You can sell the off-plan property only after you get a No Objection Certificate from the developer. This No Objection Certificate is an official acceptance by the developer that they have no objection to your sale and that all payments pertaining to the said property are all in order. In the absence of the NOC, the sale cannot be executed and may even disallow you to transfer ownership to some other person. Another thing is that the issue of an NOC is normally not free and the cost differs from one project to another. Payment Milestones Most developers require that some percentage of the cost of the property be paid in advance before they could approve a resale. The percentage may either lie between 30% to 40%, or be lesser, though this varies with the different developers. This, therefore, must be checked with the developer as regards their specific payment requirements. The payments ensure that the property buyer is serious about his investment and provides some guarantee of financial security for the developer. Dubai Land Department (DLD) registration The registration fee that DLD levies in lieu of registering this transaction at its office makes the transaction legally effective from the moment NOC is received from Dubai Municipality relating to the mutually agreed sale transaction. Roughly, 4% of the sales price of the property is a cost for DLD for registering that transaction. Since actual conveyance cannot be affected without such a process involved in DLD’s process, there results proper ownership to the buyer while making him the owner. Other costs that may arise in the transferring of ownership from the DLD fee are shown below: Transfer Charges This is for properties whose price is less than AED 500,000. The cost of transfer amounts to AED 3,500. For more expensive properties and whose value is AED 500,000 upwards, the price is AED 5,000. Charge for NOC The NOC fee issued by the developer is different for each case. The charge for NOC varies from AED 5,000 and goes above. Market Conditions Conditions within the market define whether or not selling an off-plan property prior to its completion is the correct decision. As one can notice, the Dubai property market changes remarkably with changes in demand and shifts due to a number of causes that eventually affects the investor’s behavior. A person has to track all of these changes so that he would be in the right time frame to make some profitable sales. Research the market before making up your mind and committing yourself to a sale. You might want to schedule an appointment with a real estate agent who can guide you through recent pricing trends and demand by the buyers. This will help you proceed with the sale whether the resale time has come for you or not. Legal Processes There are legal procedures that need to be undergone for hassle-free resale of an off-plan property. You have to find an attorney who will make sure you get the proper contracts and review the terms in the sale. It is also quite nice to be aware of penalties that can be dished out by the developer for selling the property before it is completed. There are some clauses that the developers have that may restrict or penalize early resales, so you must be sure to go through such terms carefully before moving forward. The buyer should also be informed of the risks involved in buying an off-plan property like construction delays, changes in design in the property, or even problems with the developers. Conclusion Being sold off plan before completion, off-plan sales can be termed as a good investment for Dubai investors especially if they utilize the best market conditions or are changing their investments. It includes strict legal, financial, and contractual
In a step potentially rewriting the picture of global finance, Saudi Arabia and the UAE recently launched Project Aber on January 2019. A shared digital currency development and implementation joint project, it marks a giant step toward great financial system modernization of the GCC. The very apposite name “Aber” thus captures the essence of the project: to urge cross-border cooperation and push the boundaries of what is achievable through digital technology in the financial sector. Using this initiative, an opportunity will come to leverage on the Distributed Ledger Technology (DLT) while introducing a CBDC that looks to make more efficient crossborder transactions. Through this project also, there are hopes of boosting economic integration that is expected at the level between Saudi Arabia and the UAE which will be some form of precedents for expanded financial cooperation and integration within GCC and beyond What is project Aber? The Project Aber is a new digital currency initiative by the Saudi Central Bank (SAMA) and the Central Bank of the UAE (CBUAE). This collaboration aims to determine how a common digital currency can be used domestically within the region and internationally. Using DLT, Project Aber not only develops more secure and efficient payment systems but also opens up an environment for further future integration of digital currencies within the region. This is an initiative to make financial interaction smooth, deepen the economic cooperation between two nations, and set an example for other countries launching similar projects regarding their digital currencies. Aber assumes a revolution in payment infrastructures, ensuring that they both are fast and secure, by bringing state-of-the-art technologies into traditional banking systems. Project Aber Objectives Project Aber was initiated with clear objectives guiding its development. These objectives are as follows: Improvement of Cross Border Payments: Aber looks to address the inefficiencies that characterize conventional interbank cross-border payment systems, thereby achieving faster transaction and lower costs. Exploring Dual Issuance of Central Bank Digital Currencies (CBDCs): This part of the project explores the possibility of issuing a digital currency jointly by two central banks, a pioneering concept that could change how digital currencies are issued and controlled in the future. Benchmarking with International Standards: Project Aber results and implementations are being compared against the similar undertakings from the central banks across the world. This helps in putting the UAE and Saudi Arabia in the fore-front of international race to transform payments systems into a modern status quo. Organization Structure of Project Aber Project Aber is an implementation that falls under a structure with three main phases, one focusing on every different aspect related to the use and application of this digital currency. It entails Cross-Border Settlements between central banks. Central banks of the concerned countries, specifically Saudi Arabia, were involved at the first level and it was in the initial round for testing their feasibility in implementing the digital money in high value cross-border transfers between the respective countries. Domestic Settlements between Commercial Banks: In the second phase, the project was expanded to include domestic settlements. Commercial banks in both countries tested the digital currency for the purpose of local settlement and considered its ability to streamline local settlements. Cross-Border Transactions Between Commercial Banks: In the third and final stage, the project tested the ability of commercial banks in both countries to use the digital currency for cross-border transactions. Key Features of Project Aber Project Aber features an exciting financial collaboration mode as well as an emphasis on leveraging new technology. Some key features of this project include Active Participation of Commercial Banks: The project had six commercial banks, three from each country. These were actively involved in testing the new digital currency system to ensure it met the practical needs of the banks and their customers. This core feature of the project is actually decentralized. By doing this architecture, the design will be distributed and thus giving the flexibility for banks to do their system on their own yet keeping security intact and sound across the entire network. Liquidity Issues: One of the aims of Project Aber is to minimize the problems caused by “trapped liquidity” for banks. In this respect, the project simplifies cross-border payments and helps banks handle liquidity better, which has been one of the main problems in international transactions for many years. Guiding Principles of Project Aber To make the project successful, there were a few guiding principles: It was constructed on the active engagement of commercial banks. The local nodes running on the network were tasks for the commercial banks. Thus, through such, it builds private-public sector cooperation to understand better the technical and business aspects of DLT. Actual monetary transactions. Such was the element of realism created when actual monies were being used in this project, in developing tests to evaluate system functionality and work under normal real-life circumstances. In doing so, its feasibility was determined vis-à-vis already set existing infrastructures about the Real-Time Gross Settlement Systems prevalent in UAE and Saudi. Achievements and Findings Since the launch of Project Aber, a lot has happened in proving the feasibility and potential of using digital currencies for cross-border and domestic transactions. Some of the key findings and achievements of the project include: Operational Feasibility of DLT for Payments: The project successfully demonstrated that Distributed Ledger Technology can be effectively used for secure and efficient cross-border and domestic payments. Technical and Security Insights: Aber also shared valuable insights regarding the technical and security aspects required to establish a CBDC. This would involve the issue of scalability and speed of transactions as well as security measures for preventing frauds and ensuring the integrity of the system. Bank and Central Bank Collaboration: The project demonstrated how central banks and commercial banks can collaborate to take advantage of emerging technologies. In doing so, the public and private sectors can come together to advance innovation in the financial sector. Project Aber has introduced a new norm in the digital currency and payment solution development agenda. Its efforts on collaboration, innovation, and practical
Short-term rentals in Dubai are one of the newest options for visiting and residing individuals. It can be due to business trips, vacations, or local staycations. Properties have a home-like experience that provides greater flexibility, privacy, and better affordability in comparison with traditional hotels. Though it is good to have many options, it could make the choice of a good property tough. To make your decision-making easy, here’s a guide about the must-consider factors before booking a short-term rental in Dubai. Understanding The Type Of Property Before you start searching, you first need to decide what kind of property you would require. Dubai offers a wide variety of renting options, ranging from standalone villas and townhouses to modern serviced apartments. For solo travelers, family travelers, or group travelers, the size of the property along with its configuration should be apt for your group. A villa is usually large living. Families and big groups favor it too. Serviced apartments are best suited for business people or for couples who need a less spacious living accommodation and hotel services. The hotel apartments feature the luxury of having hotel services within an apartment. Select the correct property type, considering your choice, number of travelers, and duration of stay. Check The Amenities They Offer The facilities provided will seriously affect your comfort and satisfaction in the short-term rental you choose. At the very least, the house should provide the following: Fast internet-if you’re a business traveler or you need to be connected Air conditioning- it is just a must, given the hot climate of Dubai Fully equipped kitchen-if you like to cook Laundry facilities-if it is that long a stay Parking space-if you are hiring a car For more expensive rentals, extras could include a pool, gym, 24/7 concierge, or housekeeping services. These extra amenities will make your stay easier, so be sure to look for them if you are looking for a more expensive option. Location Where the location is, it really determines your whole experience in Dubai. Choose properties found in central locations like Downtown Dubai, Dubai Marina, or Business Bay. There will be proximity to big attractions and malls as well as restaurants and entertainment. There’s another factor called transportation access. Try to get a rental house with easy public transport access. It can be in the location of a metro station or just close to the bus stop, saving you lots of time and money traveling to work. You can opt for apartment flat renting, and make sure that it faces directly to either Burj Khalifa or view of Dubai Fountain, which will make your visit even more spectacular and an incredible experience from behind the comfort zones. Reviews And Ratings Reviews and checking about the quality of short-term rentals can judge the rating of previous guests. Reviews may give an idea of the property condition, host reliability, and the details stated by the advertisement. If you would like to find out something in the property, you should reach out to your host. So, you must ask for further details of items that appeal to you like check-in policy, some other issues related to maintenance, and local tips or recommendations. So, cross-verifying the profile of the house on other such booking websites, as well as social media should be done as a way to verify the credibility of the host Budget And Pricing The range is so vast that, therefore, budgeting has to be adhered to because of the enormous gap in the price range involved. It is determined by location, size, amenity, and type of accommodation. For instance: A secondary location flat would cost AED 3,500 per month. A very prime-located villa would charge AED 75,000 per month. There might be hidden charges for cleaning, service fees, or security deposits. Be sure to ask for more than one week stay because you might get some discount for that. Compare the worth of the house depending on place, amenities, and experience generally. If all other things have to be equally compared, go for the better place or have added amenities but be willing to pay a bit more. Flexibility In Terms And Conditions Some aspects to review about the short-term rental before confirming the booking: its flexibility to the policies is one of it. Rental policies vary widely in each place and make sure these align with yours, especially pertaining to booking periods, check in/check out and cancellation policies. If your travel plans are flexible, it is quite important to opt for a rental that accepts cancellations. Some properties offer partial refunds on their cancellations up to a week, while others may offer full refunds if cancellation is made within a period. Others do not have any refund. Ensure that the terms are clear in number of days a person will rent the property and restrictions along with responsibility while staying in a property. This is an essential requirement, as one must consider getting a written agreement to prevent confusion after some time. Legal Compliance Dubai is one location which calls for a customer to book the short-term rental properties and, as well be in accordance with the law of the country, local laws, and regulations. It’s good also for a property one looks forward to renting to have been registered in the DTCM database, and the owner has paid the Tourism Dirham Fee, which is a compulsory charge on all short-term rental properties. Booking a rental that is compliant with the law will prevent any issues with legality during your stay and protect the property via proper coverage and maintenance under local standard rules. Laws For Short Term Rentals In the case of traditional properties, one year is considered as the minimum letting period; however, this period may be varied for short-term letting services such as serviced apartments or hotel apartments, sometimes up to a day or even an hour as this applies to several other stay places that may be for a short trip besides one that’s
Dubai sits at the top of the list of the world’s most liquid and luring cities in terms of talks relating to real estate business. However, it is actually the off plan properties that are considered to drive huge growth in the off-plan property sector. Off-plan properties are those which are either in the construction stage or planning stages wherein investors would be able to buy a plot of land at an appropriate price with negotiable terms of payment, though not yet sold. However, off-plan property purchases do indeed involve some smart thinking so that costly mistakes do not become part of them. Through this guideline, we have shown you potential faults that would render waste your investment, merely to off-plan property within the borders of Dubai. Well, let us now get started Bad Background Checks Reputation of the developer is one of the major factors to be considered while buying an off-plan property. Many are so keen to buy that they focus more on the price and location rather than the track record of the developer. An established developer ensures the delivery of a completed property according to time and with good quality as per specifications. Look out for seeing the portfolio of the developer, his previous works, and reviews from other buyers who have bought property from him in the past. He should be registered at the Dubai Land Department. This is one of the statutory requirements. Whether the company had a past record of completing on time the projects undertaken and upholding the standards of quality that were maintained at all stages during the construction. Location Factor Not Considered Even though the price and payment plan might attract one, it’s going to be the value of its location that determines what the long-term probable rental yield will be. It’s this fact which seems glaring that buyers ignore, where one does not even take into account what may occur concerning the location and how developments are made surrounding the area. Even the best properties can prove contrary to projections and not appreciate if their location is rather badly planned or still undeveloped. Carry out thorough research about the region in which your property sits. Check up on the infrastructural development work, transport connectivity, and all other commercial developments that can further increase the attractions of the area in the very near future. Research accessibilities to schools, shopping centers, and business centers. A fine location can certainly add a handsome value to your property as well as create an elevated demand level for rented houses. Underestimate Additional Costs Off-plan maniacs will always forget to add extra costs that they are going to incur in addition to the advertised base price. Such costs include registration fees, service charges, maintenance fees, and utilities that might not feature in the base price. Extra costs are not considered; therefore, at the time of handover, it may surprise your financial side. So you need to know how much you may spend while buying that property and service charges before your property gets completed and also annual maintenance charges that may arise after handing it over to you. Not Having A Proper Knowledge Of The Payment Plan The most attractive feature of off-plan properties is that the payment plan is flexible. Developers can provide a very attractive payment option. Buyers can pay for the property in installments during the construction period, and the balance will be paid when the property is ready. If the buyer is not well informed about the payment structure, especially if there are penalties for late payments or post-handover installments, then this can create financial stress. Before you buy an off-plan property, take a clear copy of the payment schedule, the milestones to meet, and all penalties associated when the payment will not reach in time. The terms of the payment will also ensure if the terms agree on your finance and time. Ensure that you note extra costs at the construction end that you will comfortably pay it as time proceeds. Legal Due Diligence The most important process connected with the purchase of off-plan properties in Dubai is legal due diligence. The legal part of the deal is often forgotten by the buyers in this highly regulated real estate market. The problems and disputes arise mainly when verification of legal documents happens later on. Ensure that it is registered in the Dubai Land Department (DLD) and that the developer has an escrow account for this project before the payment. It ensures that your money is safe, and it is only used in the development of the property. Never rush to any contract; study it well, and seek advice from a lawyer if need be to confirm all terms are in order and to your favor. Off-Plan Yields Immediately. This largely creates high hopes to clients; for example, a very impracticable yield in an investment. Such markets are available to the retail investor merely by the virtue of nature because the houses produce this kind of a risk factor merely by the fact that at the point of sale, some setbacks will impact value or a changing market will cause some change in value. Off-plan properties reflect good capital growth, and expectations should be realistic. Construction delays or unexpected circumstances often result in a delay that might push the handover date, thereby affecting your occupation or rental of the property as wished. The contingency plan and delaying terms should be factored into the financial projections. Long-Term Goals Are Not Considered Specify what you want in terms of an investment before committing to buying the off-plan property. Whether you are a buyer for use, long-term rental income, or resale will determine the sort of property best suited for you and ensure you’re making the best decision. For example, if you are planning to let the property, then you should select a place where letting demand is higher. In case you expect to sell the property, then you should opt for a
The off-plan property market in the UAE has undergone a drastic change recently and is fast emerging as one of the most sought-after investment avenues not only for local investors but also for international ones. However, the industry has expanded even beyond emirates like Dubai and Abu Dhabi to the point where even emirates like Ras Al Khaimah are also getting more new projects coming in. Based on population growth consistently and tourist visitation increases in the country, this business opportunity put it into a real estate investment in the world’s market. The developers have framed various trends and innovative strategies because of the unprecedented demand for off-plan properties. So, let us study the trend and discover what will happen to the UAE’s off-plan property market. Key Trends Shaping the UAE’s Off-Plan Market Expanding Market Appeal: Local and Global Demand The boom in off-plan has significantly increased the market scale in the UAE mainly attributed to the fact that of late, people have shown interest in this area, not only by the locals but international investors too. Off-plan in recent couple of years experienced high growth toward this potential investment option. The economy in the UAE grows highly, offering returns, hence making it more attractive for international investors and boosting the interest in its investment from the world at large. It is still an attraction of the property to the buyer with an option to stay there, or, in many cases, even rent out to a generate some income. These have resulted in the emergence of a whole portfolio of properties ranging from residential, to commercial, and mixed-use properties in some of the most prized locations within the UAE. With such diversification, it becomes easy for investments in off-plan projects to come within reach and attract a vast audience of interested buyers. Payment Flexibility: Payment Schedules The primary factor behind opting for an off-plan is the payment schedule. With the passage of time, the developers in the UAE devised payment structures that catered mostly to different financial conditions. Of late, the payment schedule could be categorized into three types: down payments at the start of the process, mid-point payments, and post-handover installments. This shall make the management of the investment easy for the investor as this heavy burden will not be there. Most especially, post-handover payment plans have been widely accepted by the majority of the buyers. This is because such plans allow investors to pay in installments when the property in question is complete, hence eliminating delays in handover projects and other construction-related problems. This gives a huge amount of financial peace and flexibility to a potential buyer in regard to off-plan markets. Technological integration: Smart houses and automation With the evolving features in technology, there have been wide uses of smart features, which are one of the features commonly seen off-plan developments. From among major developers of UAE, smart home technologies like intelligent climate control system, and also automation in lighting, among many, have also started featuring them. These prime technologies upgrade lifestyle by improving life conditions as convenience, safety, and energy consumption would improve because of such amenities. It spreads from such technological trends also, to smart features in homes and beyond. It is with the capabilities of inclusion of artificial intelligence and Internet of Things by the developers, further betterment in terms of living shall be achieved. With more savvy generations entering into the property world, further such demand for innovations will be brought about, pressing the industry towards further innovation. Green Focus: Eco-Friendly Developments At present, the trends of the off-plan market of the UAE have been sustainability. As more and more people become conscious of how global environmental concerns might affect their countries also, the consciousness has led to a more awake clientele with respect to the ecological footprints of investments. In most cases, these developers have also adapted greenery practices in building designs and its operations. The designs are done in a way that it reduces the consumption of energy, uses eco-friendly materials, and also gives provision for green space. Such development in cities like Dubai and Abu Dhabi will attract investors who care for the environment and would be proud to reside in houses which symbolize their responsibility for the earth. As green initiatives have already received a place from the government of UAE and are going to sustain, it is going to be much more powerful of an off-plan market driver in the near future. Online Platforms: Access to Properties and Investments This popularity of the online platform has provided the buyer with knowledge regarding information on new off-plan property launches and making decisions based on information. For an investor, especially in the UAE, such online real estate listing platforms are important. It provides every type of information regarding newly launched projects, specifications, prices, and payment plans. It enables the investor to view the properties online and compare various developments, then make a decision online while sitting comfortably at his house. Therefore, convenience has made it easy for domestic and international investors to invest in the off-plan market through these websites. With further changes in digital life, these websites will be able to play a more extended role, thus creating wider accessibility and hence off-plan investments becoming appealing. Looking Ahead: Off-Plan Market In The UAE: A Bright Future Off-plan property of the UAE could be on its way to reaching a very diversified group of investors as the core issues would increasingly be about integration of technology, sustainability, and flexible payment plans. With newly developed trends, off-plan property still looks quite outstanding in terms of market resilience and growth. With more challenging conditions imposed on living in a green environment, more technologically advanced measures are introduced to the public and off-plan development in the UAE will turn out to be highly developed, even more sustainable and appealing. Therefore, government policies and a strong economy will forever keep the support going for UAE’s off-plan market with tons of scopes for investing
