What does the term "off plan property" mean in Dubai?

In Dubai, the term "off-plan property" refers to a property that is being sold before it is built or completed. These properties are often sold by developers to buyers who are interested in purchasing a property in a specific location, but who want to take advantage of lower prices and flexible payment plans that are often offered for off-plan properties.

Off-plan properties can be apartments, villas, townhouses, or other types of real estate, and they are usually sold during the pre-construction phase, before the property is completed and ready to move in.

The buyers of off-plan properties in Dubai generally pay a small deposit to secure the property and then make payments over a period of time, usually several years, as the property is being constructed. Once the construction is completed, the buyer takes possession of the property and can move in or rent it out.

Off-plan properties in Dubai can be a good investment as they can be purchased at a lower price than completed properties. However, it's important to consider the risks associated with investing in off-plan properties such as delays in completion, changes in property specifications and regulations, market conditions and developer's reputation.