Top 7 Essential Key Terminologies Every Property Investor in Dubai Should Know

Top 7 Essential Key Terminologies Every Property Investor in Dubai Should Know

The real estate industry in Dubai has had a notable upswing, with transactions reaching over AED 500 billion in 2022—a significant 78% rise from the year prior. With transactions surpassing AED 300 billion in just the first half of the year, the trend has continued into 2023. Due to the city's robust economy, stable political environment, and advantageous position, it is anticipated that the population will quadruple by 2040. First-time purchasers may find it hard to navigate the complicated world of real estate investment in Dubai, as it involves being familiar with important terms and procedures.

It can be alluring to invest in real estate in Dubai or other UAE cities for capital gains or rental income. Dubai provides profitable investment prospects, but for transactions to go smoothly, you should be familiar with some key terminology, including those that are in Arabic.

Terms That Dubai Real Estate Investors Need To Know

1. Ejari:

"Ejari" is one of the first few Arabic terms you may have heard frequently if you've been dabbling in Dubai's real estate market. Rental contracts are managed using the Ejari registration system. Landlords and tenants use this method to formally register their rental agreements with the relevant municipal authorities.

Buy-to-let investors can file their lease contracts in Dubai via the standardised Ejari process. Ejari is a crucial document needed for many housing and government-related procedures, including getting a Dewa, applying for a visa, and connecting to the internet.
If you are renting a home in Dubai, this registration is mandatory. The leasing agreement is binding, legitimate, and official due to the Ejari system. It is your pass to all home amenities and services, including phone and internet access, energy and water and the ability to sponsor your dependents. The Ejari system is also used to address future issues pertaining to your rental agreement, such as the resolution of rental income disputes.

2. DLD and Rera:

The Dubai Land Department (DLD) is the government agency that deals with all issues about the legalisation of real estate transactions in Dubai. It regulates, controls and makes sure that real estate transactions in Dubai are safe and open. Buyers need to be informed that every sale transaction has a necessary 4% fee to be paid to the DLD."A government organisation called the Real Estate Regulatory Agency [Rera] was founded in 2007 to oversee the real estate market in Dubai.

3. DLD Waiver:

The Dubai Land Department Waiver, or DLD Waiver, is a special programme designed to boost Dubai's real estate industry. Property purchasers can save a substantial sum of money on transaction fees thanks to this waiver, particularly the 4% property registration charge that must be paid to the DLD.

4. Title Deed and Oqood:

When it comes to completed properties, the title deed from the Dubai Land Department (DLD) is the official record of property ownership. It is essential for real estate transactions in Dubai and serves as unquestionable proof of ownership. On the other hand, purchasers of off-plan properties receive an Oqood document, which serves as a form of title deed preface.

This document registers the property in the buyer's name and acts as the first proof of ownership, however, it is not as detailed as the title deed. Oqood simplifies the registration and administration of off-plan property contracts. When the project is finished, the agreement becomes a title deed, guaranteeing a smooth transfer of ownership rights.

5. Saleable area:

For freehold properties in particular, knowing a property's saleable area is essential to assessing its value and possible return on investment. The real useable space on the property—which does not include common facilities like lobbies, lifts, or staircases—is referred to as the saleable area. It's the area of the property that the owner can use or sell. The saleable area includes communal sections that aren't up for sale as well as private spaces on the property, giving buyers a complete picture of the size and use of the property.

6. Makani:

The phrase "Makani" or "Makani Number" must not overwhelm you; it is simply the Arabic word for "my location." Consider it a customised, locally relevant version of Google Maps with a twist. By giving buildings, landmarks, and public spaces a ten-digit identification number, Makani functions as an intelligent navigation system. With the help of this technology, users can locate buildings, share their location, and even transmit distress signals in an emergency, making city navigation a snap.

Makani numbers are frequently requested by delivery staff to monitor locations precisely. Makani functions as a clever navigation tool that simplifies position identification thanks to its distinct number-based methodology.

7. Off-plan properties:

In Dubai, ready properties are prepared for occupancy, whereas off-plan properties are those that are either in the planning or building stages. Choosing an off-plan properties in Dubai may come with alluring incentives or ways to make payments.

BUY YOUR DREAM HOUSE

From Browsing to Buying: Your Journey to Property Ownership Starts Now!

world map

Your gateway to offline planning in the digital realm. Discover a world of real estate opportunities through our immersive offline property website experience

Off Plan Properties For Sale In Dubai
Stay Informed and Act Smart!

Subscribe to our Daily, Weekly and Monthly Newsletters, Expert Advice and Latest Launch with Zero Spam, Unsubscribe Anytime.