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Dubai, the emirate

A major financial, shipping and travel hub; Dubai has become one of the world's wonders in terms of geographical, economical, social and legal development. From a minor desert municipality, Dubai has become a major destination for those seeking the ultimate in leisure, business and economic exposure.  attracting some of the world's elite. The zero tax policy on its residents is one of the major benefits of living in Dubai.

Dubai, Essential Facts and Map

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  • Total Population: 3,1 million people

  • Life expectancy: 76 Years

  • Land area: 3,113 km2 (1,202 sq mi)

  • Largest Lake: Al Qudra Lake

  • National Day: 2 December

  • Government: Federal constitutional monarchy, President: Khalifa bin Zayed Al Nahyan

  • Currency: UAE dirham (AED)

  • Official language: Arabic

  • Time zone: UTC+4 (GST)

  • Country Number/Prefix: +971

  • They also have the longest automated transportation network. The Metro covers a distance of 74.6 km (46.4 mi). 

  • The Dubai Mall, also known as the world’s largest shopping mall in the world. This shopping mall has more than 1200 shops, 4 floors, and a total retail area of 502,000 square meters (5,400,000 sq ft).

  • Burj al Arab as an example, this is the world’s only 7-star hotel, and it’s considered to be the most luxurious hotel in the world! Their cheapest room goes for about 1000 euro per night. 

  • Country Code: AE (United Arab Emirates)

  • Dubai has the longest automated transportation network. The Metro covers a distance of 74.6 km (46.4 mi). 

Buyer's agency for Dubai

The primary steps in the acquisition process will be to provide the following documents to the Mountesque consultant;   Mountesque; 

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  • Letter of Intent

  • Proof of Funds

  • Anti Money Laundering Declaration.   

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Dubai, Tax and Purchasing Costs

 

The round trip transaction costs include all costs of buying and then re-selling a property - lawyers' fees, notaries' fees, registration fees, taxes, agents' fees, etc.

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Currency:  The United Arab Emirates uses the UAE Dirham (AED) .

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Title Deed:  The title deed costs AED 250 (US$71) and it is issued by the Land Department.

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Registration Fees:  The only direct tax on a real estate purchase is a 4% charge levied at time of sale, based on the value of the transaction. The buyer and seller are legally supposed to pay 2% each, but in practice, the buyer pays it.  Registration fee is paid to the Land Department.

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The buyer will pays Mountesque a commission fee of 2% and legal fees will typically run about AED 10,000 (US$2,722). 

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Commission paid by the seller to the real estate broker acting for the sale side is on average 5%. 

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How to buy a Property in Dubai 

 

Buying a property that is being resold in the Emirates is very similar to the process in the UK .You find a property and place a formal offer, normally through if the offer is accepted then a deposit of between 5% - 15% must be paid, in addition to the  transfer fees of between 1% - 7% and estate agent fees of between 2% - 3% mentioned above. 

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In respect to off plan property, we have verified that developers have registered with the  Real Estate Regulatory Agency (RERA) website for Dubai and the Department of Municipal Affairs for Abu Dhabi. 

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We work with your lawyer to clarify and check the specific details of the contract in order to clarify the timescales involved and the responsibilities the developer has in place if the project is not completed at the specified date. 

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For developers’ charges, you should expect to pay an initial deposit of 10% and then increments of 10% - 20% every three months until the project is completed  as well as the transfer fee.  

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Buyers checklist

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  • your lender has approved your loan and you have taken into consideration all costs involved to include deposit, agents fees, transfer fees etc

  • you have spoken to a registered real estate agent

  • you have confirmed that as a foreign investor you can purchase property in the area of your choice

  • you have conducted a price check to confirm the property you are purchasing is being offered a fair market value

  • you have sought legal advice and are aware of your contractual obligations and have highlighted any concerns you have with the relevant bodies

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Mortgage Borrowers checklist:

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  • you have found a lender and confirmed how much you can borrow and what you will be expected to pay per month

  • you have been advised how much the fees are on top of the purchase price of the property and calculated your costs accordingly

  • you have opened a local bank account and provided all the paperwork required

  • copy of your passport

  • ID card ( if applicable)

  • proof of address

  • proof of residence

  • bank statements

  • letter from employer confirming salary

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Keep up to date with developments in interest rates and borrowing costs through us; we monitor developments in monetary policy under the UAE Central Bank and observe comments and adverts in the media. 

Dubai, Legal Procedure
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Lawyers

 

The British Embassies in Abu Dhabi and Dubai hold a list of lawyers. If you decide to hire a lawyer you need to be aware that only a local lawyer can represent you in the UAE. A lawyer from overseas can offer you advice but they have no legal jurisdiction in the UAE and will not be able to represent you should things go wrong.

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In Dubai, lawyers must be registered and approved through the Rulers Court before being allowed to practice law. To check if a lawyer is registered in Dubai, contact the Rulers Court on 04 03531060 or email Sara Dawood:  sara.dawood@legal.dubai.gov.ae  or  nidal.villegas@legal.dubai.gov.ae

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If you feel your lawyer has acted inappropriately or not represented you in accordance of the law, you can complain to the Ruler’s Court in Dubai or the Ministry of Justice in Abu Dhabi as they cover all the Emirates except for Ras Al Kamiah.

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For Ras Al Kamiah, you should lodge your complaint directly with the municipality.

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Disclaimer

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While we hope that this information is useful, please be aware that it is not intended to be the only guidance for prospective buyers to follow when considering making a purchase. In addition, we make no representation as to the quality or accuracy of the information which is available at the web addresses listed in this guide, nor can we accept any responsibility for the content that is hosted on them. We strongly recommend that prospective buyers of property in the UAE seek independent legal and financial advice at all stages of their purchase.

DUBAI residences: 
Jumeirah Beach Residences

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  • One Palm 

  • Palm Couture Residences

  • The Royal Atlantis

  • Palm Jumeirah Villas

  • The Alef Residences

  • 1 JBR

  • Marsa Al Arab Villas

  • Bluewaters

Dubai Harbour​

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  • Grand Bleu

  • Beach Vistas

Business Bay

 

  • Opus

  • Palm Couture Residences

  • Reva Residences

  • Aykon City

Mohammed Bin Rashid City

 

  • Hartland Villas

  • Hartland Quad Homes

  • Cassia

  • District One Villas

Dubai Hills  Estate

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  • Majestic Vistas

  • Parkway Vistas

  • Dubai Hills Estate

Al Barari

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  • The Reserve

  • The NEST

Dubai Creek
Harbour

 

  • Creek Edge 

  • Harbour Gate

Tilal Al Ghaf

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  • Harmony

  • Serenity

Downtown
Dubai

 

  • BLVD Heights

  • Il Primo

Jumeirah Beach Residences

Jumeirah Beach Residence JBR) is a 1.7 km long, 2 sq km gross floor area) waterfront community, located in and around Dubai Marina. The development contains 40 towers (35 are residential and 5 are hotels), accommodating over 15,000 people. These are broken down into 6,917 apartments, from studios to apartments.  900 sq ft (84 sqm) studios to 5,500 sq ft (510 sqm) penthouses, all within walking distance to Dubai Marina and Dubai Metro. The developer, Dubai Properties (a subsidiary of Dubai Holding. 

One Palm, Palm Jumeirah

  • Price: Approx DH 100m. 

  • No of Bedrooms: 5 bed. 

  • Internal Size: 20,000 Sq ft. 

  • External Size:  Alrge terrace. 

  • Developer/Designer: Omniyat

  • Description:  double and triple height spaces, beautiful landscape sanctuaries, high levels of privacy. Prime development in an iconic location.   

  • Amenities: Outdoor pool, spa, vitality pool, outdoor cinema, business center, playroom, beach club, gymnasium, jetty. 

  • Location: Palm Jumeirah

  • Availability (No of Units/Completion): ​

Mohammed Bin Rashid City

Mohammed Bin Rashid City, popularly known as MBR City, is one of the biggest mixed-use developments in the emirate of Dubai, offering a self contained community enriched with family oriented facilities that include restaurants, retail, education, parks, entertainment centres in an ultra modern setting.

 

The development comprises of state-of-the-art tourist attractions, a hub of leisure activities, the biggest shopping centre in the world (Meydan One Mall), a large-scale park and 45-million sq. ft. of freehold property and hosts two international educational institutions; Hartland International School and North London Collegiate School.. The project was inaugurated by His Highness Sheikh Mohammed Bin Rashid himself in May 2015.

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MBR City, made famous by the iconic Meydan Hotel is a well-connected destination with key artery road links such as Sheikh Mohammed Bin Zayed Road, Sheikh Zayed Road, Al Khail Road and is located close access to Business Bay, Downtown Dubai, Dubai Design District and Al Quoz. MBR City is a sprawling community, some of the popular projects within the area include Sobha Hartland, District One, District 7, District 11 and Gemini Splendour, offering high-rise and mid-rise apartments, luxurious villas, townhouses and mansions with extensive communal green spaces.  

Dubai Hills Estate

A city-within-a-city, Dubai Hills Estate is a  mixed-use development incorporating several unique neighbourhoods, built around a prestigious 18-hole championship golf course. This city is oriented around landscaped parks and gardens, connected by leafy walkways and nature trails, giving a sensation of you space, greenery, whilst each separate community is themed around it's own unique character. By example; Park Point is focused around apartment living, Sidra offers villas, then Dubai Hills is a gated community offering exclusive villas in a choice of architectural styles, giving owners the chance to design their own luxurious homes.  The project was built for sustainable living and includes recreational facilities, play areas to keep kids entertained, shops, cafes, restaurants, hotels, a hospital and a business park.

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Location; occupying a part of Mohammed Bin Rashid City; Dubai Hills Estate stretches from Al Barsha South to Nad Al Sheba, bordered by Al Khail Street, Sheikh Mohammed Bin Zayed Road, and Dubai – Al Ain Road highways. Proximity to these major arteries gives residents easy access to Abu Dhabi, Al Ain, Sharjah and Northern Emirates.  The location is also a short drive to Al Quoz Industrial Area, Al Barsha, Downtown Arabian Ranches, whilst the Dubai International Airport or Al Maktoum International Airport are easily accessible by car.  

Downtown Dubai

Downtown Dubai, an upscale-inspired urban concept, providing modern city living, is home to many of Dubai's attractions; including the 'Burj Khalifa, 'Dubai Mall, Burj Khalifa Lake, Dubai Fountain and in respect it's ultra exclusive positioning, is now branded as the Center of Now by master developer, Emaar.

 

Downtown Dubai offers an  of housing, entertainment, retail and dining options and has become the city's top tourist destination for it's ability to wow visitors with architecture, elegance and metropolitan lifestyle. Located strategically in the heart of the city, Downtown Dubai is perfect for executives  that have an appreciation of an essential metropolis.   

Dubai Creek Harbour

Dubai Creek Harbour at The Lagoons is a new six million square metre mega-city planned for Dubai. It is a joint venture between Emaar Properties and the government owned real estate developer Dubai Holding.

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The project runs with the slogan 'discover life at the source’ and is situated next to the Ras Al Khor wildlife sanctuary, famous for its flamingos.

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Construction has already begun on the first phase, Dubai Creek Residences, a six tower apartment complex which should offer great views of Dubai Creek and the Dubai skyline.

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When it is completed Dubai Creek Harbour will be one of the largest developments in Dubai as well as the largest ‘walkable’ community. There will be a number of civic and cultural attractions, including a 30-hectare central park and a new waterfront development on Dubai Creek.

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Dubai Creek Harbour has been designed as a place where people can work, live and play in harmony with nature.

Dubai Harbour

A major new waterfront development featuring the Middle East’s largest marina capable of handling 1,400 vessels is to be built on the Dubai waterfront.

The 20 million square foot Dubai Harbour project will be developed by Meraas Holding and will contain a 135 metre-high tower, Dubai Lighthouse, that will house a luxury hotel and an observation deck. It will also feature a 150,000 sq ft cruise liner terminal capable of handling 6,000 passengers, as well as entertainment and retail space, a yacht club, shopping mall, hotels and residences.

The 1,400-berth marina will increase Dubai’s capacity for handling yachts by almost 50 per cent from the current 3,000 berths in the Emirate. It will also add the capacity to handle larger yachts of up to 85 metres in length.

 

DubaiHarbour will include marina, cruise ship port, shopping mall, events arena, residential buildings, hotels, offices, retail stores 

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The project will be built on a site at Mina Seyahi on a plot between Jumeirah Beach Residence and Palm Jumeirah off King Salman bin Abdulaziz Al Saud Street (formerly Al Sufouh Road) and will integrate the current Skydive Dubai, Dubai International Marine Club and Logo Island sites into a single community through a new road network and a monorail. It will be developed in several phases and is expected to complete in 2021.

Tilal Al Ghaf

Conveniently situated between Downtown Dubai and Al Maktoum International Airport, Tilal Al Ghaf has several points of access for an easy commute - Hessa Road, Al Khail Road, Al Fay Road and Sheikh Zayed Bin Hamdan Al Nahyan Road. It is perfectly positioned to grow with Dubai's dynamic cityscape, giving residents the feeling of calm while living in the city.

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Scenic waterscape views, cool blue waters lapping at your feet, and a tranquil ambience by the beachside. Add to it a multitude of entertainment options, bespoke retail stores as well as the choicest gourmet restaurants. Discover all the lifestyle elements of new-age resort living amid urban comforts.

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The 70,000-sqm recreational lagoon with white sandy beaches is a place for everyone to look forward to, splash around, and indulge in their favourite water or beach activity.

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Outdoor markets, bootcamps and fitness sessions, giant games, picnics, outdoor cinema and music festivals are lined up for people of all ages, all year round.

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11 km of cycling trails, 18 km of walking trails and a 2-km Ghaf tree trail take residents through bustling urban areas and serene nature-dominated spaces.

Business Bay

Business Bay is a central business district, featuring 240 buildings, comprising commercial and residential developments, in an area that was structurally manufactured as an extension to Dubai Creek. 

 

Business Bay was conceived as a vision of His Highness, Sheikh Mohammed Bin Rashed Al Maktoum, as a new city within Dubai, a prime  commercial, residential and business cluster, covering an area of 64,000,000 square feet (5,900,000 m2), of office and residential towers set in landscaped gardens with a network of roads, pathways, canals and will become the region's business capital.   

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Bay Square is a mixed-use community within Business Bay, a pedestrian-only zone that includes walkways over canals, sidewalks, restaurants, cafes and retail stores, covering  over 2,400,000 square feet (220,000 m2), 1,600,000 sq ft (150,000 m2) of office space for 575 offices with an average size of 2,000 sq ft (190 m2), located 1 km away from Sheikh Zayed Road, within Business Bay. 575 offices with an average size of 2,000 sq ft (190 m2). Bay Square will comprise the following buildings: 

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  • Bay Square Commercial Building

  • Bay Square Hotel

  • Bay Square Office Building (10 Office Buildings in total)

  • Bay Square Residential Building

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Business bay is connected to Red Line of Dubai Metro with Burj Khalifa and Dubai Mall station and Business Bay Station. 

 

Planned Buildings

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There will be over 230 towers in the Business Bay district. 

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The Opus, Business Bay

  • Price: From AED 3,957,479  to AED16,892,846

  • No of Bedrooms: 1-3

  • Internal Size: 816 - 3571 Sq Ft.

  • Developer/Designer: Zaha Hadid

  • Description: Home to the ME Hotel, managed by The Melia Group; hosting a limited collection of luxury, serviced residences, interior advised by Hadid. The cube structure features a nonlinear void that is flooded with light at night.

  • Amenities: Swimming pool, gymnasium, world-class spa, 24 hours security, valet and concierge service.

  • Location: Burj Khalifa District, Business Bay. 

  • Availability (No of Units/Completion): 6 Units, 2019

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