• HOW DO WE NOTIFY BINGHATTI PROPERTIES OF ANY CHANGE IN COMMUNICATION DETAILS?

You can send an e-mail using your registered email ID to Binghatti Properties CRM Department or by visiting the sales office. We encourage you to immediately notify of any change in your address and telephone numbers, so you are constantly updated.

• CAN I TAKE A HOME LOAN AND REGISTER THE MORTGAGE OVER THE PROPERTY?

Yes, the buyer can take a home loan and register a mortgage on the property by paying the requisite fee to DLD. Please note only banks or financial institutions duly licensed and registered with the UAE Central Bank can provide finance for the property.

• IS THERE VALUE ADDED TAX (VAT) APPLICABLE ON MY PROPERTY?

Under the Emirates law, a newly constructed residential properties that are supplied for the first time or within three years of their construction, are exempted from paying any VAT. However, there is still ambiguity on the date of supply i.e. whether it is the date of payment or whether it is the date of property completion.

• CAN I PURCHASE/BUY A PROPERTY IN THE NAME OF A FREE ZONE COMPANY?

Yes, you can purchase/Buy the property in Dubai in the name of certain designated free zone company. It will be subject to meeting the requirements of DLD and the concerned free zone authorities. In order to register the property in the Interim Property Registry, the sales team will first guide you on the rightful procedure.

• WHAT IS THE DIFFERENCE BETWEEN THE PRINCIPAL AND JOINT OWNERS TO THE SALE AGREEMENT?

In the realm of property ownership, the distinction between the principal and joint owners is rather negligible, as both parties stand as coequal stakeholders in the property, unless explicitly conveyed otherwise to the Dubai Land Department (DLD). Consider, for example, a scenario where two acquaintances co-invest in a property; the distribution of ownership percentages hinges upon their respective financial contributions to the venture. In the absence of a specified arrangement, equity prevails, rendering both parties with an even-handed share. It’s imperative to note that any official notifications or correspondences addressed to the Principal Owner are legally recognized as having been duly delivered to all participating property owners under the laws of the United Arab Emirates.