Dubai's off-plan real estate market offers attractive developer payment plans, but understanding how bank mortgages apply to properties under construction is vital for long-term financial planning.
The 50% Construction Completion Rule
Central Bank guidelines state that UAE banks can generally finance off-plan properties only once project construction reaches a minimum of 50% completion (verified by Dubai Land Department RERA inspection reports). Until 50% completion, buyers must fund payments directly to the developer's escrow account.
Off-Plan Oqood Fee vs Title Deed
When purchasing off-plan, the initial 4% DLD fee is registered under an Oqood certificate (interim property register). Upon project handover, Oqood converts automatically into a permanent Title Deed.
Consult Off-Plan Mortgage Brokers on AskTaskers
Planning handover mortgage financing? Post your off-plan project details on AskTaskers to explore bank options.
Get Off-Plan Financing
