Top developers in Dubai

Dubai is known for its skyscrapers, excellent hotels, and futuristic architecture that draws millions of tourists. The best construction companies in Dubai completed these projects.

 Many home buyers in the emirate are unaware that they own real estate built by the same creators who constructed the well-known Burj Khalifa Tower, the Burj Al Arab hotels, and the Dubai Opera House.

The article provides an overview of construction companies in Dubai and provides recommendations for choosing the most suitable developer in Dubai.

 Emaar Properties

In its 23 years, Emaar Properties has established itself as one of the best real estate, hospitality, shopping center development, and commercial leasing developers. The company operates internationally and provides real estate development and management services to the hospitality, leisure, and retail industries.

In addition to the Burj Khalifa Tower and the Dubai Mall, the list of objects from Emaar includes such residential areas as Emaar Beachfront and Greens.

DAMAC

As a global head in engraved property, DAMAC is developing $1 billion hotel suites and serviced residences in Dubai's Burj, "DAMAC Towers by Paramount," which will be the first Paramount Hotel in the region.

The company has distinguished itself in the UAE by building many villas, hotels, and apartments under its DAMAC Maison Brand.

These include projects such as the DAMAC Hills golf community and the AKOYA Oxygen residential complex, which is set to become the greenest residential community in the UAE.

Select Group

The company has presented world-class developments in the Gulf States and Europe for 18 years in the global real estate market.

Select Group has supplied the world with residential, retail, hospitality, and mixed-use schemes highlighting rate and relaxation. 

Select Group has accumulated several prizes and, in 2017, was awarded the "Real Estate Tycoon Award" and accepted the Forbes award in the category of the best property companies in the Middle East.

How to choose a developer in Dubai

Choosing the right developer interests all potential real estate buyers in the emirate. The following information will help you sidestep mistakes:

• When choosing a developer, study his website and social media accounts. This will allow you to determine how many years he has been on the market and whether he has achievements and awards.
• On the website of the Dubai Land Department (DLD), you can find out about open and already completed projects of the developer. Pay attention to the date of laying the foundation of the object you are interested in, as well as to what stage of construction it is currently at and when it is planned to be put into operation. This verification method is relevant if you are looking for an off-plan property - at the construction stage.
• Chat with the owners of flats in Dubai and houses waiting to commission the project you are interested in. So you can ensure that the developer is on time for construction. Potential neighbors can be found on social networks and specialized forums. Thus, it will be possible to determine what customers think and how they respond to the developer.
• Get the help of a realtor. A professional specialist acquainted with the local real estate market will explain what nuances you should pay attention to and what should alert you in the search process. Also, from an expert, you will receive basic recommendations on choosing a developer in Dubai.

Distribution of payments for the purchase of housing under construction and finished objects from the developer

When the developer buys an object, payments follow the established plan. An initial 5–10% payment is required when concluding a transaction. The transaction is registered in the cadastre, for this, it is necessary to pay another 4% for this procedure. Further, the buyer regularly makes payments following the schedule. After commissioning, the remaining part of the amount is paid.

In the secondary market, the buyer pays the entire amount at once or half; the rest is paid under the mortgage agreement.

Important! Installment is only possible when buying directly from the developer. Long payment period for facilities under construction. Some developers allow the transfer of funds after the completion of the project: for example, 60% of the price during construction and 40% at the time of its completion or within a few years after that.

Help of a real estate agency

Even amid economic and political instability, buying a home in the UAE is a liquid investment. Real estate experts reached this conclusion during a round table on the profitability of objects in the current conditions. One of the main arguments was that the United Arab Emirates is a country outside of politics, and its economy is currently not dependent on Western sanctions.

The database of the real estate agency in Dubai https://www.axcapital.ae/ contains current offers for the sale of housing in the UAE. The company's employees are happy to help you choose a property in Dubai, decide on a developer, and provide legal assistance in preparing documents and at all other transaction stages.