Practical tips for property buyers and investors in Dubai

Practical tips for property buyers and investors in Dubai

While Dubai's real estate sector is enjoying an increase in completed residential properties, there are many elements that a new purchaser should be aware of when considering purchasing a property such as the following.

Power of attorney

Foreign first time purchasers should bear in mind that they can actually complete the transaction as per the title on the property. No party may act on or on behalf of a party without being the legal authorized signatory with the specific powers delegated to them in a Power of Attorney (POA). This POA can often cause extensive delays in particular if one of the parties is not in the UAE and an international POA will be required to be notarized and fully attested by the UAE Consulate in the country of origin in addition to the Ministry of Foreign Affairs and legally translated in the UAE. This POA can often end up being quite costly.

According to statistics revealed by Dubai Land Department, 3,036 new investors entered the market in January and February 2021

Corporate structures

If the property being sold is owned by a company or if the buyer is a company, there may be a complex and detailed list of companies, known as a holding