I visited a property exhibition and saw interest in a project that is still in its off plan stage. What should I be careful about before making a decision to purchase a property in Dubai from the developer of that project?

Answer:


  The developer should be able to provide you with the following details of the project:
  1. The location of the Real Estate Unit,
  2. the programme for its completion and any known delays in the programme,
  3. the contractual date of completion and handover,
  4. the extent of the Common Areas and facilities within the Jointly Owned Property and
the programme for the completion of the Common Areas and facilities and any known delays in the programme,
  1. the Developer’s number and the Project’s number. You can check the Approved Developer List here http://www.dubailand.gov.ae/English/Real_Estate_Licenses/EngDevelopersList.aspx
  2. the escrow account’s number
Failure by the developer to provide the above details puts you in a serious risk should you decide to purchase the property.
 
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