Oqood

The Oqood-system was introduced by the Dubai Land Department to make the property market in Dubai more transparent and secure. It is an indispensable tool for anyone interested in buying or selling property in Dubai. New construction projects in Dubai.

If you are looking to purchase a property under construction in Dubai, the Oqood-Registration is a mandatory step in the purchasing process. The process includes the following important aspects:

• Recording of all relevant contract data and purchase details
• Documentation of payment plans and instalments
• Registration of provisional ownership rights
• Tracking the progress of construction work

For you as a buyer, the Oqood-system offers several important advantages:

• Legal certaintyYour property rights are officially documented and legally protected
• TransparencyYou can check the status of your property online at any time
• Financial securityPayments are documented in a traceable manner

The registration fees for the Oqood-The buyer's premium is usually 4% of the purchase price and is usually borne by the buyer. This fee is an important component of the total transaction costs and should be taken into account in the financial planning.

For project developers, the Oqood-Registration is also mandatory. You must register and update all off-plan sales in the system. This ensures that:

• No double sales are possible
• The construction progress is documented
• Incoming payments are traceable
• The legal requirements of the DLD are fulfilled

The system is an important building block in Dubai's efforts to digitalise its real estate market and make it internationally competitive. It contributes significantly to the confidence of international investors in the Dubai property market.