Conditions and procedures for Saudis to buy property in Dubai

Are Saudis Allowed to Own Property in Dubai?

Saudis can buy property in Dubai as we will explain throughout this article. First, it is worth noting that the volume of investments by Saudi citizens in Dubai real estate increased from 2002 until the end of 2018, surpassing 89 billion dirhams according to analyses of published economic data.

It is noteworthy that in 2020, Saudi investors ranked first among Arab investors, second in the Gulf, and fourth globally among the top investors in Dubai real estate.

Saudi investments were mainly focused on residential apartments in several areas, most notably Dubai Marina, Downtown Dubai, JLT, and Dubai Sports City. As for villas, Saudi investments were concentrated in Dubai Land, Jumeirah, Arabian Ranches Springs, Palm Jumeirah, Al Furjan, and Jumeirah Island.

It is also notable that the majority of Saudi investments in Dubai real estate were in apartments, with most Saudis investing in apartments, while the share of those preferring villas reached 20%.

When discussing the increasing interest of Saudis in buying property in Dubai, it is important to mention the thriving Saudi tourism to Dubai, which may have contributed to Saudis becoming more familiar with Dubai's promising real estate market, encouraging some to invest in real estate in Dubai. New research shows that the number of Saudi tourists visiting Dubai is higher than any other destination, as Dubai enjoys increasing popularity among travelers worldwide. Official statistics show that Saudis in particular enjoy short trips to Dubai, with about 1.8 million people doing so in the last months of 2014.

Dubai is famous for its moderate winter temperatures, usually ranging between 18 and 25 degrees Celsius, making it one of the most popular Gulf cities for Saudis to visit.

Read also: What Are the Best Areas to Buy Villas in Dubai?

Types of Properties Saudis Can Buy in Dubai

It is known that foreigners, including Saudis, are allowed to buy property in Dubai, as follows:

• Freehold ownership in designated freehold areas.
• Acquiring the right to own property with absolute, unrestricted ownership.
• The right to use the property, or lease it for up to 99 years in areas designated by the Dubai Land Department.

Article 3 of Law No. 3 of 2006 concerning the determination of areas for non-citizen property ownership in Dubai refers to the designated freehold areas on pages (115-117). Below are some of the most prominent freehold areas in Dubai:

• Emirates Hills.
• Palm Jumeirah.
• The Meadows.
• The Lakes.
• The Springs.
• Dubai Marina.
• Jumeirah Lake Towers.
• Downtown Dubai.
• Old Town.
• Burj Khalifa.
• Dubai Investment Park.
• Jumeirah Beach Residence (JBR).
• Al Rawda.
• Arabian Ranches.
• Dubai Sports City.
• Motor City.
• International City.
• Jebel Ali.
• Palm Jebel Ali.

Conditions for Buying Property in Dubai for Saudis

Property ownership certificates in Dubai are issued by the Dubai Land Department, and there is no age requirement for ownership in the emirate.

Regarding the conditions for buying property in Dubai for Saudis, we previously mentioned general conditions, and here we refer to specific conditions to consider, which are:

• The investment capital in Dubai's real estate sector must be fully owned by the investor, meaning no bank loans are allowed.
• The real estate investment amount must not be less than 10 million dirhams.
• The investment should be retained for no less than 3 years.

Procedures for Buying Property in Dubai for Saudis

The process of buying property in Dubai can be done in two ways: First: through service centers in Dubai (Real Estate Registration Trustee offices), Second: via the Dubai REST app.

The procedures for buying property in Dubai for Saudis do not differ from those for other investors. The Dubai Land Department is the authority responsible for regulating property ownership in Dubai, determining who is eligible to buy property, and when ownership can be transferred to the buyer, acting as a link between the buyer and seller.

The Dubai Land Department helps Saudis interested in investing understand the procedures for buying property in Dubai, in addition to offering many services, the most important of which are:

• Submitting a property evaluation request for any type of property, whether residential or commercial land.
• Buying property within residential units in Dubai.

Also, when buying property in Dubai, a sale registration application must be submitted.

Required Documents for Buying Property in Dubai for Saudis

To register a sale request for land or property at the Dubai Land Department, the investor must provide certain documents and files necessary to complete the transaction, such as:

• No Objection Certificate from the developer in freehold areas, issued through the Dubai REST app, which is one of the best real estate apps in Dubai.
• Original ownership certificate.
• Preliminary sales certificate, statement certificate.
• Sales agreement if resale is done for elderly people.
• Valid and current passport.
• Power of attorney for the seller's or buyer's representative.
• Copy of Dubai entry visa.

Fees for Buying Property in Dubai for Saudis

Regarding the fees for buying property in Dubai for Saudis, the same laws apply as for all property purchase transactions in the emirate. The seller pays 2% of the transaction value, and the buyer pays 2% of the sale value. Additionally, 250 AED is charged as a certificate issuance fee, 100 AED for issuing a land map (250 AED for villas and apartments), 10 AED as innovation fee per transaction, 10 AED as knowledge fee per transaction, registration trustee fees, and 4,000 AED if the transaction value equals or exceeds 500,000 AED. If the value is less than 500,000 AED, a fee of 2,000 AED must be paid.

Imtilak Global Services for Saudis Wishing to Buy Property in Dubai

Imtilak Global in Dubai offers a variety of services to Saudis wishing to buy property in Dubai. They can contact Imtilak Global to view all property offers, benefit from the significant advantages provided by the Dubai government, and learn how to own property that meets their aspirations in the city of finance, business, and successful investment sought by real estate investors from around the world.

For more details and information, do not hesitate to contact your real estate consultant in Dubai (Imtilak Global), who is ready to serve valued clients wishing to buy property in the UAE, starting from real estate consultations, helping to find the right property, providing everything needed to complete the freehold process, and ending with various after-sales services. For more information, you can contact us through our official channels.

Edited by: Imtilak Global Real Estate©

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