Strategically located between Asia, Europe, and Africa, Dubai is a worldwide investment hub and amongst the world’s mature and fastest growing property markets. Most legislation since 2006 has boosted the confidence of property investors in Dubai. For instance, amendments to the tenancy law has encouraged property owners to invest and make a profit while renting out their properties to tenants.

Buyers and investors around the world show great interest in buying Dubai property even they will receive provisional legislative proof against their huge investment in real estate Dubai. Due to the absence of legal verification buyers must know primary Dubai property laws in order to make safe deals. 

Recently news about some property purchasers made headlines in Dubai wherein they discovered that despite owning their apartments for 10 years or more, they were not the true \”owners\” since the \’Oqood\’ certificates were never granted in their names.

What is “Oqood”?

Oqood is a necessary registration of any off-plan freehold property required by buyers. It doesnot offer any extra protection, it is just a proof that you own the property, as sometimes in the past some developers would sell off floor-plans to investors and disappear and these investors donot have any proof of purchase/property details/floor plans etc.

Incase of developer’s default or disappearance you can take your oqood certificate to lands department as a proof of ownership and they will resolve the issue through liquidation committee, from the trust/escrow account of that project.