Where must the sale of an off-plan unit be registered?

Where must the sale of an off-plan unit be registered?

• A. The Central Real Estate Registry
• B. The Interim Real Estate Register
• C. The Dubai Property Authority
• D. The National Real Estate Database

Answer: (B)

The sale of an off-plan unit must be registered in the Interim Real Estate Register. This is because the Interim Real Estate Register is specifically designated for transactions involving off-plan properties in Dubai. This register is part of the overall framework established by the Dubai Real Estate Regulatory Agency (RERA) to ensure that all real estate transactions, especially those involving properties that are still under development, are accurately tracked and recorded. Registering off-plan sales in this interim register provides essential protection for buyers and helps maintain transparency in the real estate market. It ensures that developers are held accountable for their projects and that buyers have legal recourse in case of any disputes. The other options do not serve this specific purpose of registering off-plan unit sales, as they focus on other aspects of real estate in Dubai or are not official registers employed for such transactions.

The sale of an off-plan unit must be registered in the Interim Real Estate Register. This is because the Interim Real Estate Register is specifically designated for transactions involving off-plan properties in Dubai. This register is part of the overall framework established by the Dubai Real Estate Regulatory Agency (RERA) to ensure that all real estate transactions, especially those involving properties that are still under development, are accurately tracked and recorded.

Registering off-plan sales in this interim register provides essential protection for buyers and helps maintain transparency in the real estate market. It ensures that developers are held accountable for their projects and that buyers have legal recourse in case of any disputes. The other options do not serve this specific purpose of registering off-plan unit sales, as they focus on other aspects of real estate in Dubai or are not official registers employed for such transactions.