From February 1, 2025, property buyers in the UAE who take a mortgage will have to pay extra upfront. Banks will no longer cover the Dubai Land Department (DLD) fee and the broker's commission. This change will affect buyers, making off-plan properties a more attractive option.What’s Changing?Before, banks included the 4% DLD fee and 2% broker’s fee in the mortgage, reducing the initial payment for...
Dubai’s real estate sector reached a historic milestone in 2024, recording 2.78 million transactions, including property sales and rental agreements a 17% increase from 2023.In a statement, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, highlighted the sector’s...
The Dubai Land Department (DLD) has announced that private property owners in designated areas of Sheikh Zayed Road and Al Jaddaf can now convert their ownership status to freehold. This initiative aims to enhance Dubai’s real estate market and attract global investment. Key Areas and Eligible Plots A total of 457 plots have been identified for this conversion:Sheikh Zayed Road: 128 plots...
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