Dubai Real Estate has emerged as an attractive investment opportunity hub for local and foreign investors.However it’s not as simple when you’re a complete freshman to the complicated world of real estate. Here’s a list of frequently used terminologies in Dubai real estate to help you achieve a better understanding.

Freehold

Ownership of the property and the land on which it stands indefinitely, with no time limit.

Leasehold

Ownership of the property for a specific period, usually 99 or 999 years, after which it reverts to the landlord.

Off-Plan

Properties that are still under construction or development and are sold before completion.

Title Deed

Legal document confirming ownership of a property.

NOC (No Objection Certificate)

A document issued by the developer or landlord allowing the property owner to carry out specific activities, such as modifications or selling the property.

Escrow

A third-party account where funds are held during the property purchase process to protect both the buyer and the seller.

Property Transfer Fee

A government fee paid upon transferring ownership of a property.

RERA (Real Estate Regulatory Agency)

The regulatory authority responsible for overseeing the real estate sector in Dubai.

Service Charge

Fees paid by property owners for maintenance and management of shared facilities and common areas in a building or community.

ROI (Return on Investment)

The percentage of profit or loss generated from a property investment relative to its cost.

Capital Appreciation

Increase in the value of a property over time.

Gross Yield

The annual rental income generated from a property as a percentage of its purchase price.

Net Yield

The annual rental income generated from a property after deducting expenses as a percentage of its purchase price.

DLD (Dubai Land Department)

The government entity responsible for registering real estate transactions in Dubai.

Power of Attorney (POA)

A legal document that gives a person or entity the authority to exercise power on the behalf of the property owner.

Marina

Refers to Dubai Marina, a popular waterfront development in Dubai.

JBR (Jumeirah Beach Residence)

A beachfront community in Dubai known for its high-rise residential towers.

Downtown Dubai

The central business district and home to iconic landmarks like Burj Khalifa and Dubai Mall.

EPC (Energy Performance Certificate)

A certificate that assesses the energy efficiency of a property.

Having a good grasp on these terms will help you gain an improved understanding, giving you the confidence to explore the market with ease. Prioritize thorough research, consult a reputable company or agent and of course exercise due diligence before sealing any deal. Embarking on a journey of Dubai real estate can be an exciting experience for investors, sellers and realtors alike.