How to Choose
a Property Developer in Dubai?

Real estate market in Dubai is going through a period of maturity, which is the reason why it seems relatively stable.

Especially considering the closure of Expo 2020 (even though it got rescheduled due to the 2020 COVID-19 pandemic), the belief of most investors is that it’s best to start investing in Dubai’s real estate now.

The thing is that the sheer amount of property developers on the market can make choosing between off-plan properties and ready properties in Dubai a tough thing to do. Too many options always make the choice harder.

No matter if you’re a first-time UAE properties buyer or a weathered investor, taking into account the things described below are going to help you make the right decision in terms of investing in property in Dubai.

Very often, when planning to buy real estate, people can’t decide if they should buy off-plan property or ready property in Dubai. If you’re new to this, let’s clarify the terms. Off-plan real estate is basically property that is not yet built.

Buyers either sell / lease this kind of property after its completion. Ready real estate is the property that is already built, so customers can move right after purchase.

There are advantages and disadvantages to investing in off-plan and ready properties in Dubai. In the case of off-plan real estate, there are also particular risks involved with investing in it, such as cancellations and delays.

These risks are minimal in Dubai due to the Dubai Land Department and Real Estate Regulatory Agency regulations as well as such things as escrow accounts that help customers get protected from potential fraud and financial loss. Property developers have to deposit at least 20% of all the project costs as a means of bank guarantee. Moreover, Dubai authorities must make certain that the developer possesses enough resources in order to complete their project.