Before signing an o -plan unit sale and purchase agreement, buyers should visit the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA) or the DLD’s website (www.dubailand.gov.ae) to check the following:
1. Is the real estate project registered with RERA?
2. Is there an escrow account for the project? What is the escrow account number and the name of the escrow account agent?
3. What is the percentage of completion of the project and the expected date of completion?
4. Is the developer registered with RERA? Does the developer own the development land or is there a development agreement between the owner and the developer?
5. Does the developer have the required permits and approvals from DLD and RERA to sell units off-plan in the relevant project?