An opportunity to consider
In Dubai, it’s both possible and legal to buy property as a group. The Dubai Land Department and the RERA are government bodies in charge of the real estate market. They control and regulate it, and authorize this type of transaction.
This means that it’s possible to buy an apartment or villa with several people, including friends, colleagues and family members. There’s no need to set up a company or legal structure. All you need is a valid passport; no other documents are required.
There is no minimum price in which you must invest to be able to have several investors. Promoters usually allow up to 4 investors. When there are several buyers, their number of shares is equal, so they all have the same percentage. Payments can come from different accounts, or from the same account.
For this to go smoothly, you need to determine your objectives, your criteria, the type of property you want to invest in and your budget. The real estate agency is there to help you find the property you want.
To sell the property, we proceed in the same way as if only one person had purchased the property, i.e. the owners must sign the transfer and sale authorization documents, and the rest remains unchanged. Each will receive the amount corresponding to his or her percentage share.
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