Dubai Land Department (DLD) regulates all the real estate processes in the Emirates. The authority provides several services for the smooth execution of real estate transactions. Among the many services, you can request to change a project developer for your property. One might change the developer for numerous reasons including quality concerns or better project terms. For such circumstances, DLD provides an electronic certificate which can be used to replace a project developer in Dubai.
In case you need to change the project developer of a property in Dubai, there is a specific process to follow and certain requirements set by the Dubai Land Department. We have gathered these details to assist you in understanding the procedure.
How to Request to Change a Project Developer From DLD
DLD provides many services such as registering for a real estate project which can be availed by buyers, sellers, developers or investors. However, if you want to change the developer of a project, you can also apply for it. Through this service, the project landowner can request to change the real estate developer in Dubai. The request must be made after all the requirements have been fulfilled by the project owner. There must also be no violation of the obligations of the contract with the investors of the real estate project.
Here are the details of how to request to change a project developer from DLD and its requirements.
REQUIRED DOCUMENTS
To issue a request to change a real estate developer in Dubai, the required documents include the following:
- An official letter from the applicant to request a change of the project developer. It must also include a development licence copy to be attained by the new developer.
- An undertaking that includes all financial responsibilities from the applicant’s end to the former developer. The credit issued for the former developer must also be cleared.
- A notice copy must be forwarded to the investors of the project.
- The advertisement form must be completed and uploaded within 15 days of the last advertisement date.
PROCEDURE
To change a project developer, the procedure includes the following steps:
- A no-objection letter along with the application form must be submitted.
- The no-objection letter must be from the project’s main developer.
- After filling out the advertisement form, upload it with the remaining required documents in the system.
- Make sure to upload the documents within 15 days from the last advertisement date.
- The application will then be verified. It can also be accepted or rejected in this step.
- When the application is accepted, there will be an update in the system.
- The certificate is then available to be received through the electronic system.
The service time for the application procedure is thirty minutes. Also, the request can be submitted through DLD’s official website and Oqood portal.
FEES
To change a project developer, the service fees include the following:
- AED 150,000 – if the real estate project is cancelled
- AED 10 – Knowledge fees
- AED 10 – Innovation fees
The payment is carried out through the Noqodi system.
TERMS AND CONDITIONS
The following terms and conditions must be fulfilled if you want to request to change a project developer in Dubai:
- For cancelled or incomplete real estate projects, the Judicial Committee must put forward a decision. The statement must include the purchase of the project or an agreement copy. The agreement must be between the first and second parties- the current and new developer, showing that the property is available.
- To submit the request for changing the project developer, the applicant must do it after 15 days have been completed since the last announcement date.
All in all, these were the required documents and details to request to change a project developer in Dubai. Make sure you have all the necessary information and details to proceed with the process. Also, hiring a real estate agent will help if you are seeking professional assistance in the matter. Meanwhile, 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 DLD services, laws and regulations.
