How to get license for Real Estate Development Projects in Dubai?

Real estate developers may obtain a license for the development of real estate development projects and the off-plan sale of real estate units by following the steps outlined below:

Step 1 – Registering a company with the Department of Economic Development (DED) whose commercial activities include real estate development.

Step 2– The developer must have ownership of the development land, or the Landlord has in place a development agreement signed with a licensed real estate developer.

Step 3- Appointing an engineering consultant for the project.

Step 4- Appointing a financial auditor.

Step 5- Obtaining an unconditional bank guarantee from a UAE bank for an amount of 20% of the project value, otherwise the developer shall complete construction of 20% of the project.

Step 6– Obtaining a No Objection Certificate from the master developer.

Step 7- Obtaining a membership certificate from the Dubai Chamber of Commerce and Industry.

Step 8- Submitting an application to the Real Estate Regulatory Agency (RERA).

Step 9 - Obtaining project registration and developer licence certificates.

Step 10 – Applying for a no objection to open an escrow account.

Step 11 - Opening the escrow account.

Step 12 - Registering the units for off-plan sale.

Step 13 – Selling units off-plan.

Step 14 – Registering land plots and units sold off-plan using the DLD’s standard reservation form and sale contract