Blog – dubai off-plan promotions | dxb off plan | off-plan projects

REAL ESTATE NEGOTIATION TIPS

admin-dxb — Wed, 06 Jul 2022 12:06:12 +0000

REAL ESTATE NEGOTIATION TIPS

If you are an experience first-time buyer, the following negotiation tips can help you get the best deal for a property you have an interest in, when negotiating with a real estate agent or property developer.

RESEARCH

First on the list of our real estate negotiation tips is research. Before approaching a real estate agent or property developer, you need to do your research. Researching the trends of price from different marketing reports is the most important real estate negotiation tip for buyers interested in properties.
Analyzing property market reports of the area in which you will be investing allows you to assess the sale price of the properties in that area and get an idea about the ROI on the investment. Being informed about the marketing trends will make negotiating with real estate agents much easier as you will have facts in your hands.

KNOW THE OPTIONS

After analyzing the market, you should have a good understanding of where and what type of property you want to invest in. Once this is decided, the next step is to figure out what is the best choice or the property you want to purchase. One good practice is to compare the prices of properties. Researching alternatives will allow you to understand the average price of the property you want and you can pitch the same price when negotiating with a developer or an agent.

WHEN NEGOTIATING, KEEP A MARGIN

Next on our list of real estate negotiation tips is a property negotiation tactic that can help buyers to get a property deal at the best price. When dealing with a developer or agent, quote a lower amount than your budget. Don’t give your best price at the start of the discussion, so that there is a place for a bargain. Quoting less than your budget can help you get the property within your budget.

RESEARCH ABOUT THE SELLER’S NEGOTIATION TECHNIQUES

The important part of a successful property transaction is understanding the tactics that the sellers use. When you are negotiating a deal with a real estate agent or a property developer, be mindful of the fact that they have their own objectives while selling the property to you.
A seller will give appealing offers to convince

you to buy a home. They will claim that the property that they are showing is the best. This is when the buyer should think objectively and analyze the pros and cons of the offers made during the deal. Understanding these tactics is the most important real estate negotiation tip for buyers as it helps buyers make the right decision while buying a property.

BE COMPLETELY HONEST WITH YOUR SELLER

Our last tip for buyers on how to negotiate a real estate deal is, to be completely honest with your seller. The seller isn’t your enemy; if you are noticing that the property you are looking at has a few defects, it is good to tell the seller about them. The same thing applies if you are unsure about a property and need some time to have a look at other options before making a final choice to buy.

the tips that a real estate investor should consider

admin-dxb — Sun, 29 May 2022 07:44:50 +0000

the tips that a real estate investor should consider

In the market of UAE, Following are the tips that a real estate investor should consider when buying an off-plan property

1 / Getting Advice before buying

It is wise to get advice from a real estate consultancy licensed by regulators before buying an off-plan property. Here he/she will get data about the specifications of the property they are planning to acquire. Real estate consultancy is a vital step for the buyer to make a good deal, especially since there are many choices in the market, and many real estate brands, as in UAE market.

2 / The Reputation of the Developer

The buyer should select a real estate developer with a good reputation. In Dubai, it is easy to know about any real estate developer. Investors have several channels and many tools through which they can verify the reputation of the developer as well as their history.

The history of real estate developer can help in clearing everything out such as his commitment to completing projects on time. The Dubai Land Department keep a special register called Real Estate Developers Registry, with the name of the real estate developers that are licensed. Developers are not authorized to practice unless they register and have a license obtained from DLD so that they comply with the conditions.

3 / Return on investment

Return on investment or ROI is one of the most important considerations that an investor must keep in mind while buying an off-plan property. ROI varies according to the conditions of the market. With ROI ration of 7-9%, Dubai is one of the cities with the highest return on real estate investment in the whole world.

4 / The project site

It is important to buy a property in a prime location, as it has all the services that a resident may need, including hospitals, shopping centers and schools. It is advised to be close to a road network that connects well with the rest of the city. The floor in which it is located and the view it provides must also be taken into consideration.

Therefore, the buyer is advised to make the right choice when it comes to place, before signing the contract, be aware of all the details of the property, in terms of its location and closeness to public transport, markets, hospitals and schools or universities. You are advised to visit the project site and ask for specific details from the residents.

5 / Quality of the property

The quality of the property is also very important when thinking about buying an offplan property. This includes the quality of the location in which the property is to be built and the availability of the important services. You must pay attention to the finishing and the materials used in the construction of the building. These may not be same as what is described by the sales agents, brochures or images. Such hints can be avoided by going to see the other projects done by the same developer.

6 / Completion rate

The ability of the real estate developer to deliver the property matters. The shorter the time period between the promised date and the hand out date, the greater the reliability of the developer, which must be taken into consideration when buying an off-plan property.

It is very important to check the credibility of the real estate management companies and check their history for their track record if they are committed to delivering the project on time or not. It is advised to visit the site to check the progress of work from time to time.

7 / Payment plans

The buyer must specify the price of the property agreed upon, and the payment plan as well. It should be noted that real estate developers add the interest to the selling price. It is vital to mention the expected completion date in the off-plan real estate purchase agreement and the compensation that the developer will provide in case of any delay.

8 / After-sales service

After-sales service is an important part of real estate assets management, and it boosts customers confidence when they are set free from routine and procedures, such as clearing property documents after purchasing, or ownership changing and so on.

tate purchase agreement and the compensation that the developer will provide in case of any delay.

What to expect from Real Estate Market in 2022?

admin-dxb — Wed, 18 May 2022 06:41:47 +0000

What to expect from Real Estate Market in 2022?

Residential unit prices will continue to grow in the UAE in 2022, but at a slower rate, even though there is a strong supply of new units in Dubai and Abu Dhabi.

According to reports, UAE will witness a supply of 38,500 apartments and 3,800 villas, almost similar to the previous year. Similar to the previous year, some of this is predicted to be overdue or will take place in the next year.

In Abu Dhabi, 2,000 residential units are to be given on Reem Island, 2,000 each on Al Raha Beach and Yas Island, and 1,200 on Saadiyat Island.

We will continuously witness new launches in Dubai from third-party and master developers with construction-linked and post-completion payment plans.

We expect many new project announcements in 2022 in the UAE. In 2022, many master plan communities in Ras Al Khaimah and Sharjah are to witness additional supply. In Al Ain, a small number of buildings located in the Town Centre are expected for handover as well as certain private villas spread across various areas of Al Ain.

Property Prices, Sales

The market began the year at a very high peak as Dubai recorded 5,797 sales deals worth Dh16.69 billion. It was the best January ever recorded, according to Property Finder.

In January 2022, 53 percent of all dealings were for ready/secondary properties and 47 percent were for off-plan properties. The off-plan market had 2,706 properties worth Dh5.32 billion while the ready property had 3,091 dealings worth Dh11.37 billion.

2022 will continue on an increasing rate when it comes to price and sales volumes in popular prime areas.

Off-plan in high demand

The off-plan area will not cool down anytime soon because of investor attitude, attractive prices, the lure of Dubai, and good projects coming up in the market.

The increase in the sales volume of off-plan properties displays those buyers and investors feel confident about the market. They believe that the market will provide good returns to them.

Sale price growth in Dubai is to continue in 2022. Villas will be in the focus of demand and a smaller number of new handovers in good communities will further lead to higher sale prices.

In Abu Dhabi, the villa market for sales is expected to remain active because investors will be more sensitive to the price of the units.

In conclusion, residential unit prices will continue to grow in the UAE in 2022, but at a slower rate, even though there is a strong supply of new units in Dubai and Abu Dhabi. We will continuously witness new launches in Dubai from third-party and master developers with construction-linked and post-completion payment plans. In January 2022, 53 percent of all dealings were for ready/secondary properties and 47 percent were for off-plan properties. The off-plan area will not cool down anytime soon.

7 reasons why now is the finest time to buy a property in Dubai

admin-dxb — Sat, 07 May 2022 14:17:18 +0000

7 reasons why now is the finest time to buy a property in Dubai

Most expats rent apartments instead of buying one, with the thought of saving money and sending it back to their home country.

With many expats staying for a longer time and real estate prices coming down, experts say that buying a property in Dubai can help in saving money. We have collected some reasons why:

1. Buyer’s Market

Dubai is a buyer’s market. The average residential prices in Dubai have dropped by a quarter of its value since their peak in 2014. This comprises a 10 percent fall in apartment rates and a 9 percent fall in villa rates in 2018.

With new properties coming into the market, prices in our sector will fall by 5-10 percent this year.

2. Buy V/S Rent

It is cheaper to buy than to rent. Buying usually makes sense for anyone who is planning to stay in Dubai for seven years or more. It is cheaper to buy than rent in the long term when we take into consideration all the costs and fees involved. If one is planning to stay for a shorter period then renting is a better option than buying.

3. Calculate the numbers

The amount is different for each person and depends on a lot of factors like the price of the property, the length of the time they are planning to stay. It also has to be compared to the current rent, the down payment, terms of the property finance, and interest rates.

4. Higher ROI

Purchasing a property now whether to live in the property or to just rent it out, makes absolute financial sense.

ROI for residential properties in Dubai stands at 6-8 percent.

5. Finance rate as less as 3.99%

The lowest finance rates when compared to previous records make it cheaper to buy at the moment.

6. New Rules for Visa

The new rules for visas are expected to increase the demand for property in Dubai. The UAE government approved a number of procedures that aim at stimulating the economy and encouraging long-term investment.

7. Expo 2020 is here

With Expo 2020, experts predict that banking on additional demand from visitors will increase. It will also bring about business confidence which could further bring property price recovery.

In conclusion, with many expats staying for a longer time and real estate prices coming down, experts say that buying a property in Dubai can help in saving money. We have collected some reasons why- Buyer’s Market, Buy V/S Rent, calculate the numbers, higher ROI, Finance rate as less as 3.99%, new rules for Visa, Expo 2020.

Why Dubai attracts Expats from around the world?

Support — Tue, 15 Mar 2022 07:24:17 +0000

Why Dubai attracts Expats from around the world?

Dubai has become one of the most sought-after destinations for expats in recent years. Dubai has about 80% of people as expats and the city continues to attract foreign nationals every year. Dubai is the most populous city in the U.A.E because people come to Dubai looking for change and adventure.

Dubai attracts immigrants for a variety of reasons. Employment is one of the most important reasons for expats to come to Dubai. Some just want a change and want to experience new things in the city. The city is cosmopolitan and is constantly improving, offering a more than a stimulating environment for its population. Being an Expat is a rewarding experience, no matter for what reason the expat has chosen Dubai.

Dubai has a zero-tax policy; therefore, it is also called a tax haven. There is no income or corporate tax, however, this is soon to change in the coming year or so. There are some indirect taxes, such as alcohol tax (30%), tolls, rental taxes, etc. VAT is 5% in Dubai.

The expat population in the U.A.E represents almost 88.5% of the total population, represented by 27.5% Indian, 12.7% Pakistani, followed by 7.4 % Bangladeshis and 5.6% Filipinos.

Religion is important to the people of Dubai. While the Muslim community is the largest, there are other communities as well, like the Sikhs, Christians, and Hindus. Each community has its own place of worship, which is not the case in the other emirates of the U.A.E.

The benefits of being an expat in Dubai:

Sunshine everyday

The climate in U.A.E is one of the biggest benefits of the country. With temperatures that are usually above 30°C, one is more likely to get sunburned than catch a cold. Shops and transport are equipped with air conditioning at all hours.

Job Market

It has fast-growing sectors such as high tech, luxury, tourism. Therefore, finding work in Dubai may not be as difficult. It is recommended to have a good level of education to gain the most sought-after positions. Fluency in English is very important, fluency in Arabic is a real plus point. It is certain that everyone can try their luck in Dubai.

Accommodation in Dubai

Finding accommodation in Dubai is generally easy. The real estate market offers many properties in residential areas. Rent prices vary from one area to other, but the average rent for central Dubai is AED 3,500. Moving to Dubai is not impossible but it carries a cost.

Amazing Culture

Dubai has managed to preserve its culture and identity. Daily life is punctuated by local traditions and Muslim Festivals, with Islam playing a big role in the lives of Dubai’s citizens. The locals are very welcoming. The food is also amazing with specialties such as harees and shawarma.sunshine everyday

In Conclusion, Dubai has become one of the most sought-after destinations for expats in recent years. Dubai attracts expats because of its Employment and Zero-tax policy. The benefits of being an expat in Dubai are Sunshine every day, the Job market, accommodation in Dubai, and Amazing Culture.

Steps to become a successful Real Estate Agent

Support — Sat, 05 Mar 2022 06:48:02 +0000

Steps to become a successful Real Estate Agent in Dubai

Dubai is a great place to start your career in Real Estate. The market has been growing since a couple of years and continues to grow. Dubai Real Estate is at an all-time boom. The agents earn a substantial amount of income from closing deals. It is one of the most paid jobs in the U.A.E.

In order to be a successful real estate agent in Dubai, one must complete four requirements that are very essential. The essential steps required to be a Real Estate Agent are as follows:

Getting a Resident Visa
Getting a DREI certified training
Appearing for the RERA Exam
Getting a realtor license

1)Getting a Resident Visa

To be a successful real agent, one must get a resident visa. The people living in U.A.E and the Arab Nationals can easily sign up for the process of licensing.

For foreign nationals, they require a residency visa and without which they cannot sign up for the process of licensing. They can get a work visa from the employer or a sponsored visa from their spouse.

2)Getting a DREI Certified Training

The next step of becoming a good real estate agent is applying for a certified training in Dubai that is Dubai Real Estate Institute (DREI). This training lasts for four days and its purpose is to provide all the required information about Dubai Real Estate.

The RERA or Real Estate Regulatory Agency will approve the training and is the regulatory part of the DLD or Dubai Land Department.

Many strategies are covered in the training that help one become a successful real estate agent and some of the modules include: History and Development, business of a broker, concepts, definitions and market players, leasing process and rental agreement, code of ethics, introduction to owner’s associations, legal module and essential skills.

3)Appearing for the RERA Exam

After completing the four days training, one has to appear for the RERA written exam.

The costs of the exam are AED 3200, and if one doesn’t hold a bachelor degree, then the exam fees can cost up to AED 6300.

The test is covered from the training which they have studied already.

4)Getting a Realtor License

Once, the test has been cleared, one will be in the process to get their realtor license so that they can easily work as a real estate agent in Dubai. Once the requirements have been met, the Economic Department will issue the Broker License and card, and one will receive the credentials within 2 days.

In conclusion, Dubai is a great place to become a real estate agent. The market is growing from a couple of years. The agents earn a substantial amount of income from closing deals. There are 4 essential steps that are required to be a real estate agent: Getting a resident visa, getting a DREI certified training, appearing for the RERA Exam and getting a Realtor License.

5 Most Impressive Buildings in Dubai

Support — Wed, 02 Mar 2022 12:13:29 +0000

5 Most Impressive Buildings in Dubai

Museum of the Future

Dubai firm Killa Design is the creator of this unique and complex architecture which stands at 78m tall and has opened on 22/2/2022.

The windows are in the form of Arabic calligraphy which is based on a poem by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, about the vision of the city’s future.

Four floors focus on future of outer space resource development, bioengineering, ecosystems, as well as spirituality, health and wellness. Another floor shows near-future technologies that address issues in areas of health, water, transportation, energy and food. There is a floor dedicated to children as they are called the future heroes.

The Dubai Frame

Glass, aluminium, reinforced concrete and steel combined to create one of the city’s most famous structures, The Dubai Frame. It started in 2018 and stands at 150m tall and 95m wide, showing views of old and new Dubai on either side, connecting the emirate’s rich past with its extravagant present.

The rectangular design was inspired by the golden ratio of 1.618, which architects and artists believe forms a perfect structural balance.

Inside the 48-storey structure, there is a sky deck, which an elevator will take one in 75 seconds and exhibition that tells the story of the city.

Atlantis, The Palm

It is a globally renowned hotel that has more than 1,500 rooms, but is also home to a record-breaking water park, celebrity chef restaurants and an aquarium that has about 65,000 marine animals.

The five-star ocean-themed place is inspired by the Atlantis myth. It was started in 2008 and costs $1.5bn to build.

The architecture is a made of Arabian Influences with precious stones and fossilised shells that has been used in the interior and exterior.

Dubai Opera

In the middle of Downtown Dubai is this 2000-seater, multi-format theatre that becomes a host to world-class shows throughout the year. The design is by a great architect Janus Rostock of Atkins. It started in 2016, and is a tribute to city’s maritime history.

It’s been opened so that it can host everything from musicals to ballets and fashions shows to art exhibitions. The opera house, also has a rooftop restaurant and sky garden with views of the Dubai Fountain and Burj Khalifa.

Burj Khalifa

This is not just Dubai’s famous building, but the worlds, because it is the tallest skyscraper on the planet. It is 828m, 160-storey tower that glitters in the distance, shining over the skyline.

It started in 2010, and took about six years, 22 million work hours and about $1.5 billion to build. It has a number of prestigious accolades to its name, including tallest free-standing skyscraper, highest occupied floor and outdoor observation deck and elevator with the longest travel time.

Golden Visa

Support — Sat, 26 Feb 2022 11:01:01 +0000

Golden Visa

The U.A.E Golden Visa has attracted many expats who want to receive permanent residency In the U.A.E. The Golden Visa enables expats to work, study, live and conduct business without needing a sponsor. These visas are issued either for 5 years or for 10 years and can be easily renewed.

The Golden Visa provides residency for a long period of time (5 or 10 years) to expats that belong to a certain category: entrepreneurs, investors, extraordinary students, people with outstanding talents, medical professionals, researchers, and those in the field of scientific knowledge.

10-year Visa eligibility criteria:

Investors:

AED 10 million worth of investment, either in the form of a company or investment fund.

At least 60% of the investment should not be in real estate.

The invested amount should not be loaned

The investor should be able to maintain the investment for 3 years.

This visa may include business partners, given each partner contributes AED 10 million. The visa may also include the spouse and children of the investor, one executive director, and one advisor. This visa is easily renewable.

People with specialized talents:

People with specialized talents include doctors, scientists, researchers, artists, and investors. This visa also extends to their spouses and children.

Doctors:

The U.A.E is granting doctors long-term residency for their hard work and sacrifices. Doctors must complete at least two of the conditions in their field of work:

A Ph.D. degree from any one of the top five hundred universities in the world

10-year experience in the field of expertise with the Ph.D. degree

An award in the field of applicant’s work.

A part of major scientific research Articles that are published or books in known publications

An organization member that is related to their field.

Specialization in areas of priority of the U.A.E.

Coders:

Coders of any nationality or age, whether they are U.A.E residents or not, may apply for Golden Visa in the office of Artificial Intelligence in the U.A.E. Application is eligible for:

Experts and new talent that has received success in different areas of coding

Those people who work for internationally recognized technological firms

People who have graduated in areas of computer science, software engineering, hardware engineering, IT, data science, artificial intelligence, electrical engineering, and big data.

5-year visa eligibility criteria:

Real estate investors:

The requirement for a 5-year visa is very similar to that of a 10-year visa, the only disparity is that the applicant has to invest an amount of AED 5 million.

Entrepreneurs:

Entrepreneurs can apply for a 5-year visa, the main requirement is that they should have an ongoing project with a capital of AED 500,000 at least. They can also get a visa if they have the approval of an accredited incubator in the U.A.E.

Exceptional students:

Exceptional students of high school or university can get a 5-year residency visa in the U.A.E. High school students who get a minimum of 95% and university students with a GPA of 3.75 or higher on graduation are eligible. The visa also is given to the family of the exceptional students.

In conclusion, Expats want to receive Golden Visa to get permanent residency in Dubai. The visas are issued for either 5 or 10 years and are easily renewable. A 10-year visa is extended to investors, doctors, coders, etc. 5-year visa is extended to Real estate investors, entrepreneurs, and exceptional students.

small businesses in Dubai

Support — Tue, 22 Feb 2022 12:17:49 +0000

How to set up a small business in Dubai

U.A.E is a hub of many businesses. People from all over the world come to U.A.E to start their businesses. Some of the benefits of opening a business in the U.A.E are No income tax, location of U.A.E which is right in the heart of the middle east, stable currency, and easy steps to set up a business.

There are six easy steps that should be followed to set up a small business in the U.A.E:

One: Confirm your business activity

The first step is to confirm your business activity. There are many potential activities that one could choose from. It is important to list the activity in the license application. It is better to work with a company formation expert. These experts are aware of the different activities that are allowed and will be able to tell the ones that match your business.

Two: Choose a name for the company

There are a few things to consider before naming a business in the U.A.E. There are certain strict but easy to follow rules for naming your company. In this step, the company formation expert can help again. Any blasphemous or offensive language must be avoided. Names of well-known companies should not be copied. Also, abbreviations of company names should be avoided. You must check if your chosen name is available to be registered.

Three: Choosing a business setup- free zone or mainland

The next step is to decide where to set up your business in a free zone or on the mainland. There are many benefits to both. Free zones like Fujairah Creative City provide benefits such as an easy process of incorporation, continued support of business, tax exemptions, and zero restrictions on the currency. Mainland business allows you to directly deal with the U.A.E market. The nature of your business determines which setup is better for the company. Again, a company formation expert can help in determining the best approach.

Four: Business License Application

One of the most essential things to starting a small business is a business license. Getting a license for a small business is a rather simple process in both free zone and mainland companies. For starting a business at Free zone, the application has to be sent directly to the government authority. They are often given in a number of days depending on the nature of the business. It is a good idea to take the help of a company formation specialist at this point In order to start a small business in the mainland, you need to directly apply at the Department of Economic Development or the Municipality in Emirate where the business is being set up. These take around 3 weeks to be completed.

Five: Visa Applications

One very important requirement to start a small business in U.A.E is a visa. The process of applying for your own visa and those of your employees is very simple. Also, the expert can help with this step. Other’s visas can also be sponsored. This can be a spouse, child or parent, or a domestic worker. There is a certain number of visas that can be issued depending on the size of the company, personal earnings, and the chosen setup.

Six: Open a corporate account at the bank

An expert can help in setting up an account at the bank. Company formation experts have great links with all kinds of banks and can put you in touch with one bank according to your needs.

In Conclusion, U.A.E is a hub of businesses. There are six easy steps to open a small business: Confirming business activity, choosing a name for the company, choosing the business setup, application of business license, visa applications, and opening a corporate account at the bank.

Advantages of buying an Off-Plan Property in Dubai

Support — Sat, 19 Feb 2022 09:52:56 +0000

Advantages of buying an Off-Plan Property

Low price and paying at your comfort

Buying off-plan property is very attractive because they are offered at a lower price when compared to completed projects. Easy payment plans also make it a great option as it is affordable. There are different payment schemes for different properties depending upon the area where the off-plan property is located.

Gains on Capital

U.A.E has a booming economy; therefore, real estate investments give a very good return on investment or ROI. Generally, the value of the property increases once the project is completed. For those planning to sell the Off-Plan Property after completion, they will receive gains on capital after completion.

There are many factors that lead to an increase in the value of the property: these include the popularity of the neighbourhood or the locality. If the area surrounding the Off-Plan Property is still under construction but it turning into a friendly community, then the value of the property will increase after the completion of the property.

Higher Rental Yield

One of the main reasons that people invest in Dubai is its rental income. The number of expats entering the U.A.E in search of work keeps increasing, due to this there is always a demand for housing in Dubai. So, if one buys an Off-Plan Property and plans to sell it, there are high chances the investor will earn a higher rental income. This will give the investor a firm base in U.A.E and also increased financial security.

Laws of Protection for buyers in Dubai- Since investment in Off-Plan Properties is quite risky, DLD (Dubai Land Department) and RERA (Real Estate Regulatory Authority) have taken steps to protect investors from cancellations, delays, or fraud. One rule is that investors must make payments at banks approved by DLD. Developers can access the money only once the Off Plan Property has completed a certain level of completion. Such laws increase the investor’s confidence in Off-plan Properties.

A lot of variety of Off Plan Projects

The Dubai Off Plan Property market is buzzing with a lot of activity. This includes Downtown Dubai and the new communities being built on the outskirts of Dubai. It doesn’t matter if it’s an Off-Plan apartment or villa, at any location, price, or type of property, Off-plan investors have a lot of variety to choose from.

In Conclusion, Off-Plan Properties are a very popular choice for investors. There are various advantages of buying an off-plan property, these include Low prices and paying at your comfort, gains on capital, higher rental yield, laws of protection for buyers, and a lot of variety of Off-Plan Projects.