Dubai Real Estate Glossary
Your comprehensive guide to understanding real estate terminology in Dubai.
DLD
Dubai Land Department - The government authority responsible for regulating Dubai's real estate sector, registering properties, and issuing title deeds.
EIBOR
Emirates Interbank Offered Rate - The benchmark interest rate that affects mortgage rates in the UAE.
Ejari
The mandatory online registration system for all rental contracts in Dubai. All tenancy agreements must be registered through Ejari.
Escrow Account
A protected account where off-plan payments are held until construction milestones are met, ensuring buyer protection.
Freehold
Full ownership of both the property and the land it sits on, with no time limit on ownership rights.
Leasehold
Ownership rights for a specified period, typically 99 years, after which the property reverts to the freeholder.
LTV
Loan to Value - The ratio of the mortgage loan to the property value, determining how much you can borrow.
MOU
Memorandum of Understanding - A preliminary agreement between buyer and seller outlining the key terms before the final contract.
NOC
No Objection Certificate - A document from the developer confirming all payments are complete and they have no objection to the property transfer.
Oqood
The official DLD system for registering off-plan property sales contracts, providing security for both buyers and developers.
RERA
Real Estate Regulatory Agency - A regulatory arm of DLD that oversees the real estate market, protects investors, and ensures fair practices.
Service Charge
Annual fees paid to building management for maintenance of common areas, facilities, and amenities.
Snagging
The inspection process to identify defects or issues in a new property before or after handover.
SPA
Sale and Purchase Agreement - The main contract between buyer and seller that outlines all terms and conditions of the property sale.
Title Deed
The official document proving property ownership, issued by DLD after registration and payment of all fees.
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