11 Park Hills
Dubai Science Park
By TownX Developments
Price on request
Off-plan
Dubai allows freehold ownership by any nationality inside its designated freehold areas, which is why it carries most of the UAE's off-plan supply. Purchases are registered with the Dubai Land Department, and off-plan payments are required to go into a project escrow account rather than direct to the developer.
In a designated freehold area a foreign buyer owns the property and the land outright, with no time limit and no requirement to be resident. Outside those areas ownership is restricted to UAE and GCC nationals. The area, not the emirate, decides this, so confirm the specific community before committing.
Budget for the DLD transfer fee of 4% of the purchase price plus the registration admin fee, an agency fee of around 2%, and trustee and NOC fees that vary by office and developer. Service charges then run annually for as long as you hold. Our buying costs calculator itemises the whole bill, and the service charge estimator covers the ongoing side.
Ask for the escrow account number and confirm the project is registered with the DLD, ask for the Oqood registration on an off-plan unit, and get the payment plan in writing with the handover date stated. A project that will not put its escrow details in writing is the one to walk away from.
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Price on request
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Price on request
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Price on request