Off-Plan

Off-plan refers to purchasing property before or during construction, typically at discounted prices with payment in installments but carrying completion and delivery risks.

Off-Plan CharacteristicsDetails
Purchase timingPre-construction or during building
Payment structure10% to 40% during construction, balance at handover
Price advantage10% to 30% below completed value typical
Completion riskDeveloper may delay or fail to deliver
Specification riskFinal product may differ from showroom
Financing limitationsLimited mortgage options, higher deposits
Dubai Off-Plan ProcessSteps
ReservationAED 5,000 to 50,000 to hold unit
SPA signingSales Purchase Agreement within 30 days
Oqood registrationInterim title registered with DLD
Installment paymentsLinked to construction milestones
HandoverProperty completed, keys delivered
Title deedFinal ownership certificate issued
Typical timeline2 to 4 years from purchase to completion

Related Terms

Pre-Construction Developer RiskOqood (Off-Plan Contract Registration)Interim Registration (Oqood vs. Title Deed)Escrow ProtectionCompletion Risk

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