“Freehold property refers to the type of property purchase, where the buyer owns the plot as well as the unit. He/She is the landowner and has the title deed under his name. An heir can inherit a freehold property from the title deed holder. The owner of a freehold property is entitled to lease, occupy or sell his/her property. The owner can use the property for any purpose as long as it is in accordance with the local rules and regulations.
An off-plan property refers to a property whose construction is yet to begin or is in its preliminary stages of construction.
DLD is the abbreviation for Dubai Land Department. It is the regulatory body by the government that deals with all property and real estate related legislation, organisation, and services for any real estate transactions in Dubai.
A DLD Waiver is the waiver of the DLD fee that is levied on property purchase. The DLD Fee is 4% of the property value and is payable by the buyer. Ergo a DLD Waiver means the buyer does not pay this fee and it is instead paid by the developer.
RERA stands for Real Estate Regulatory Agency and is part of the DLD that takes care of the regulations in the real estate industry in Dubai. It is in charge of handling relationship between all parties of a contract and organises the exchange process of the properties.
A buyer is eligible for UAE investor visa if his total investment is AED 1 million or above in one of maximum three properties.