Buying with provident
Dubai is the Number One Real Estate Investment Destination.
- The UAE Government has ambitious strategic development objectives - Strong appreciation and a fully convertible currency; the AED is pegged to the USD, 1$ = 3.6725 AED.
- Strong economic stability - UAE's GDP Increased by 1.84 Trillion in 2022 and is the 25th most competitive economy globally
- A highly strategic location - 33% of the world’s population can reach the UAE within 4 hours and 66% can access the country within 8 hours.
- Safety and Security - UAE has a relatively low crime rate, not above 10%
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Buying Property in Dubai FAQs
Freehold property refers to the type of property purchase, where the buyer owns the plot as well as the unit. He/She is the landowner and has the title deed under his name. An heir can inherit a freehold property from the title deed holder. The owner of a freehold property is entitled to lease, occupy or sell his/her property. The owner can use the property for any purpose as long as it is in accordance with the local rules and regulations.
Freehold properties were introduced here to encourage foreign investment in Dubai and the most popular freehold areas for expats to purchase property, include Dubai Marina, Emirates Hills, Al Barsha, and Palm Jumeirah.
No, if you are a resident abroad, you do not have to pay any tax.
Once all the required documents are in order, it takes an average of 30 minutes to register a sale.
When buying a freehold property in Dubai, the following documents are required:
- A Valid Passport
- Emirates ID (if resident of UAE)
- Reservation Form
- A credit card form as well if paying with card (usually for international clients)
- A filled in CIF, i.e. Customer Information Form (in some cases)
Every tenancy contract must be registered with Ejari. This is the responsibility of the tenant to register the contract. It requires a Signed tenancy contract, Title Deed, SPA, Passport, visa & EID, Copy of landlord’s passport & Finger print
Oqood, refers to contracts in Arabic, is an online service by Emirates Real Estate Solutions for the developers. It helps with the property registration process between the developers and buyers.
Get in touch with our team and we’ll be happy to help