What is Oqood in Dubai 

Do you need clarification on Dubai’s Oqood System for Off-Plan Properties? Have you ever wondered what the Oqood in Dubai is all about? No need to fret; we’re here to simplify everything for you. 

Let’s start at the beginning. Despite its mysterious name, Oqood is simply the Arabic word for “contract.” It’s like a magical key that allows you to manage off-plan properties in Dubai. This seemingly straightforward term conceals many opportunities for this bustling city’s real estate investors and developers.

This system was created by the brilliant minds at the Dubai Land Department to make life easier for property investors and developers.

What Oqood in Dubai Can Offer You?

Well, Oqood is your property project superhero, providing a range of services such as property management, sales tracking, project management, and payment processing. It’s a one-stop shop for all your off-plan property needs in Dubai. 

How to Obtain an Oqood certificate? 

To obtain a certificate of Oqood in Dubai, property developers must register with the Dubai Land Department, submitting details such as the property’s location, size, ownership information, the developer’s name, and the project’s completion date.

Once approved, the Dubai Land Department will issue an Oqood certificate, which is vital for the transfer of ownership or sale of the property and must be presented to the Real Estate Registration Directorate of the Dubai Land Department.

Why is Oqood Dubai Highly Regarded?

If you still need to figure out Oqood in Dubai, let us provide you with some clarity. This system is highly regarded for several reasons:

• Top-Notch Practices: Oqood follows the best practices of the Dubai Land Department, ensuring that everything operates smoothly and securely. 
• Bilingual Brilliance: Oqood is bilingual and fluent in English and Arabic, enabling it to cater to a wider audience.
• Project Vigilance: Oqood also maintains close vigilance over your project’s progress to ensure everything stays on track.
• Market Integrity: It promotes market integrity, keeping the Dubai off-plan property market open and transparent.
• The Insider’s Guide: Oqood is your ticket to obtaining the inside scoop on off-plan projects. It provides you with all the necessary information to make informed decisions.

Discovering Oqood in Dubai: What’s Inside?

Let’s take a closer look at this fascinating system that has piqued your interest:

Participants: This is where you can introduce the individuals or businesses involved in your off-plan project. It’s incredibly easy!

Properties: Attention developers! You can showcase your off-the-plan projects here, complete with payment plans and other crucial information.

Procedures: Oqood handles all major off-plan property procedures, from lease-to-own deals to obtaining NOCs. You’re in good hands.

NOCs: Need a No Objection Certificate to sell your home? Oqood has got you covered and is simplifying the process for you.

Contracts: This is where all of the contract details are finalized. It formalizes the property agreement between you and the buyer.

Vouchers: When it’s time to make payments, Oqood can help you generate payment vouchers for various procedures.

Administration: If you require sub-users for your Oqood account, this section will help you quickly manage them.

What are the benefits of Oqood?

Oqood is a centralized platform that connects buyers and developers for all real estate transactions. It benefits both parties by reducing processing time, ensuring consistency, and providing complete transparency in the registration fee structure. 

In Dubai, all land developers are required to register their off-the-plan properties with Oqood to make property sales more transparent and regulated by the Dubai Land Department. It protects buyers from illegal practices, such as developers selling the same unit to multiple buyers, and helps developers keep track of their properties. 

Oqood’s founding principle was to create a regulatory platform that guarantees complete transparency for buyers and developers regarding all real estate requirements, processes, and fees. 

What is the Oqood fee? 

The Oqood fee is a one-time payment of 1040 AED that must be made by the property owner. If you plan to engage in off-plan property transactions in Dubai, it’s important to keep in mind that understanding the Oqood fee is crucial for proper budgeting and planning. To ensure a transparent and seamless property transaction process, it’s recommended to have a clear understanding of all the costs involved.

Ready to Take the Oqood in Dubai?

Investing in off-plan properties offers a plethora of benefits, ranging from flexible payment options to promising returns. You can even rent out your Dubai pad once it’s finished, making it an excellent investment.

So there you have it – Oqood has been decoded! Still have questions or need expert advice? Don’t be afraid to contact Kelt&CO, your go-to property investment partners. Let’s make your Dubai real estate dreams a reality!