Real estate’s high value and relative stability make it a significant investment. Dubai is a great place to invest in real estate. Dubai is the commercial capital of the UAE. It is a wealthy, developed economy with a forward-thinking and dynamic business culture.
It is a demonstration to the rest of the world. This event demonstrated to the world how safe and attractive Dubai is for investment.
Why you should invest in Dubai City’s Real Estate Market
Dubai’s property sector is one of the most profitable in the world, even ahead of other markets such as London and New York.
Dubai’s real estate market is attracting investors and buyers again and is expected to grow sustainably. The industry had its strongest month for the past eight years, on September 21, with transactions totaling AED 16,2 billion.
Three advantages of a real estate business are particularly notable. Investors can benefit from a predictable and steady cash flow in a stable and prosperous economy. Dubai is an excellent investment because of its tax benefits, diversity, and significant returns. The real estate market will continue to grow in the future due to the massive surge in demand around the world.
Real estate development permit for Dubai mainland
The Department of Economic Development requires real Estate Developer Company Licenses. DED Activity Code 6499004 identifies this as a business license.
This license is for businesses developing and forming real estate projects, such as residential and business complexes and travel-related ventures. It also includes the creation of infrastructure and recreational facilities.
The Real Estate License covers the sale or purchase of real estate by Dubai’s laws on freehold ownership. The developer and landowner will need to sign a contract, which is then registered at the Escrow Accounts Department before the start of the project.
To prepare your real estate license application, you can seek assistance from consultants specializing in real estate business establishments in Dubai.
How do I obtain a residential development on the Dubai Mainland?
Following the steps, obtaining a Real Estate Development license in Dubai is easy. You must be familiar with creating a company in Dubai to get the permit quickly. To apply for a license to develop real estate in Dubai mainland, you must follow these steps:
- Select the industry sector.
- Choose a name for your firm.
- Decide on the legal framework.
- Get the DED’s initial approval.
- Sign the lease and rent a workspace (Ejari).
- Obtain permission from the Real Estate Regulatory Agency.
- Include the external support on the documents you submit to DED.
- Pay the required fee to obtain a DED Real Estate Development license.
Developers Approval from Real Estate Regulatory Agency
RERA authorization is required to proceed with the approval of a license in mainland Dubai. RERA is a regulatory body that is housed in the Dubai Land Department. RERA is responsible for the regulation of the Dubai real estate market. It also provides a legal framework to all those involved in the industry.
You must use the Trakheesi System to obtain a License as a Real Estate Developer. Business establishment consultants in Dubai can help you with the approval process. You must submit these documents to receive RERA approval:
- An Emirates ID card or a copy of your passport or residency visa
- Images that show passport-size
- A certification that you passed the RERA test and have completed the RERA-authorized training
- A photocopy of your real estate license
- Police in Dubai issued a certificate for good behavior.
- Your original trade name reservation
Building an Escrow account for Real Estate Developers
You must follow specific standards to register a real estate company in mainland Dubai. You must open an escrow and a real estate firm in Dubai to build a property or begin off-plan sales. The money paid by the purchaser will only go into the escrow accounts.
Any payments from this account must also follow the RERA rules and be used only to develop a particular project. Specialists in Dubai who specialize in business setups can clarify this issue.
Bottom Line
Effective Desk Business Setup is one of the leading companies that assists entrepreneurs from Dubai and other countries in obtaining Real Estate Developer Company licenses in their desired markets. A large and distinguished clientele relies on our services worldwide.Our customized business formation services in Dubai can help you meet your registration needs. Effective Desk Business Setup’s highly skilled advisors can help you understand the requirements for registering a Dubai real estate company.