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Real estate companies in dubai

27 Dubai Real Estate Terms You Need to Know

Real estate in Dubai can be a complex and fast-paced market, with many terms and concepts you must be familiar with as a property investor or landlord. Here are 27 real estate terms in Dubai that you should know:

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  1. Escrow: A financial arrangement in which a third party holds and regulates payment of the funds required for two parties involved in a transaction.

  2. Freehold: A type of property ownership in Dubai where the buyer has complete ownership rights and can sell, lease, or pass it on to their heirs.

  3. Leasehold: A type of property ownership in Dubai where the buyer has the right to use the property for a specified period, usually 99 years.

  4. Off-plan: A property yet to be built and sold before the construction is completed.

  5. RERA: The Real Estate Regulatory Agency, the regulatory body for the real estate sector in Dubai.

  6. DLD: Dubai Land Department, the government agency responsible for registering and regulating property transactions in Dubai.

  7. Title deed: A legal document that proves the ownership of a property.

  8. Handover: The process of transferring property ownership from the developer to the buyer.

  9. Service charge: A fee that tenants or owners pay to cover the maintenance and upkeep of common areas in a building.
Real Estate in Dubai
Real Estate in Dubai

10. Rent cap: The maximum amount a landlord can increase rent by, as set by RERA.

11. NOC: No Objection Certificate, a document required for certain real estate transactions in Dubai.

12. Power of attorney: A legal document that gives another person the authority to act on your behalf.

13. Mortgage: A loan taken out to purchase a property.

14. ROI: Return on Investment, the profit or loss made on an investment.

15. Capital appreciation: The increase in the value of a property over time.


16. Security deposit: A sum of money paid by a tenant at the start of a lease, to be returned at the end of the lease if the property is returned in good condition.

 

17. Common area: A shared area in a building, such as a lobby or a gym, that the property management company may maintain.

18. Property management company: A company that manages properties on behalf of landlords and investors.

19. Yield: The annual return on investment, typically expressed as a percentage.

20. REIT: Real Estate Investment Trust, a type of investment that allows individuals to invest in real estate without buying the property directly.

21. Ejari: A mandatory online registration system for all rental properties in Dubai. It is required to obtain a tenancy contract and any legal proceedings related to the property.

22. SPA: Sale and Purchase Agreement, a legal contract between the buyer and seller of a property.

23. Payment plan: A plan for making payments on a property, typically including a deposit, installment payments, and a final payment.

24. NOC: No Objection Certificate, a document required for certain real estate transactions in Dubai, such as transferring ownership or obtaining a mortgage.

25. Form A: A document required for registering a property with the Dubai Land Department, which includes information about the property, the owner, and the buyer.

26. Verification: The process of checking the authenticity of documents and information related to a real estate transaction.

27. Property portals: Online platforms that connect buyers, sellers, and renters with properties and agents in the market, like Property Finder and Bayut.

Real estate in Dubai

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