The real estate market in Dubai is growing quickly, giving people more opportunities for property investment. The Dubai Land Department (DLD) is in charge of managing real estate rules and processes in the Emirate. The DLD provides various services to people who buy, sell, invest or build properties.
Moreover, if there is a project that has too many phases, a real estate developer can request to segment it into phases. Doing so helps manage and understand the progress more easily. That said, here is how real estate developers can request a project sub-division in Dubai to DLD.
How to Request for Project Sub-division in Dubai
Just like real estate developers can apply to register a real estate project in Dubai, they can also request a project sub-division in Dubai from the DLD platform. This service allows the developers to segment a big project with lots of buildings or different parts. Since there are too many parts of a project, it may be difficult to keep track of progress.
With this service, the project is divided into phases, making it easier to manage and understand each part and how money is being spent. To know more about the service, here are the complete details.
REQUIRED DOCUMENTS
To request a project sub-division in Dubai, the required documents must include the following:
- An official application that represents the phases of division and warranties for the individual phase.
- The project’s main developer must issue a no-objection letter (NOC) regarding the new division of each part/phase.
- The applicant must also submit a letter from the project consultant. It should have the description of the two projects after division (the start and expiry dates of the project – the completion percentage of each phase).
- A notice copy from the investors that addresses the applicant
PROCEDURE
The applicant must adhere to the following procedure for a project sub-division in Dubai. Its steps are as follows:
Step 1: Apply the system that shows the number of phases to be divided.
Step 2: Submit the required documents through the system. Moreover, the applicant can also accept or reject the application.
Step 3: When the application is accepted, it allows the developer to upload the units through a survey company certified by the Department.
Step 4: The developer then submits an application to the Registrar. It is submitted to open the account. After that, the application details must be uploaded by the developer.
Step 5: The applicant must pay the registration fee.
Step 6: When the process is completed and the fee is paid, the developer can receive the certificate via the online system.
PROCESS TIME
The service time for the application procedure is thirty minutes. The request can be submitted through DLD’s official website and Oqood portal. Plus, the Survey department takes 7 business days to complete the service.
TERMS AND CONDITIONS
The following terms and conditions must be fulfilled to avail this service:
- It must be a mega-project scale with multiple classes (villa/villa or complexes/buildings)
- The real estate developer in Dubai must complete the project registration procedures and ensure the availability of an escrow account for each phase.
- The last notice of the project division must have a 15-day window for applying.
FEES
To request for a project sub-division in Dubai, the service fees include the following:
- AED 150,000 – (for each phase, to register each phase after division)
- AED 10 – Knowledge fees
- AED 10 – Innovation fees
The payment method for the project sub-division in Dubai is the Noqodi system.
FAQs
What does a project sub-division mean?
Project sub-division refers to the process of dividing a large project into smaller, manageable phases or components.
What is the cost of requesting a project sub-division in Dubai?
The service cost is AED 150,000 for each phase of the project. Plus, AED 20 is knowledge and innovation fees.
Who are the third parties involved in this process?
The following third parties are involved in this service:
• Dubai Police
• General Directorate of Residency and Foreigners Affairs
All in all, these are the requirements to request for a project sub-division in Dubai. Ensure you have all the necessary information and details to proceed with the process. Besides, if you have an ongoing project and want to change the real estate developer in Dubai, you can request via DLD.
You can also hire a real estate agent in case you are seeking professional assistance in the matter. Also, if you are on a property hunt, you can go through the following options:
Stay connected to dubizzle’s real estate blog for more on different services by DLD.
