A–Z glossary

Agency fee / commission — The broker's fee, usually 2% + 5% VAT of the price for ready property, paid by the buyer. Usually not charged to the buyer when buying off-plan from a developer.

Assignment (off-plan resale) — Selling your off-plan contract to a new buyer before handover. See selling off-plan before handover.

Booking / reservation fee — The first payment to reserve an off-plan unit, often 5–20% of the price.

BRN (Broker Registration Number) — The licence number of an individual broker registered with RERA.

Built-up area (BUA) — The total built area of a unit, including walls and balconies.

Completion / handover — The moment a project is finished and keys are handed to buyers. See our handover checklist.

Construction-linked payment plan — A payment plan where instalments fall due at certified construction milestones.

DED / Trade licence — The commercial licence of a company (issued by Dubai's economy department), required for agencies and developers.

DEWA — Dubai Electricity and Water Authority; owners or tenants open a DEWA account for utilities.

DLD (Dubai Land Department) — The government body that registers all property ownership and transactions in Dubai.

DLD transfer fee — The 4% fee paid on registration of a purchase in Dubai. See buying costs.

Dubai REST — The DLD's official app to check registered projects, developers, brokers, title deeds and service charges.

Ejari — The official system for registering tenancy contracts in Dubai.

Escrow account — A project-specific bank account regulated by DLD (Law No. 8 of 2007) where off-plan payments are held and released by construction progress.

Form A — The listing agreement between a seller and a broker.

Form B — The agreement between a buyer and a broker.

Form F (MOU) — The standard RERA sale contract between buyer and seller for resale property.

Freehold — Full ownership of a property and its land share, available to foreigners in designated areas.

Golden Visa — A 10-year UAE residence visa, available to owners of property worth AED 2 million or more. See our Golden Visa guide.

Gross yield / net yield — Annual rent divided by price (gross); net yield deducts service charges and other costs.

Handover payment — The final instalment of a payment plan, due on completion.

Holiday home permit — A licence from Dubai's Department of Economy and Tourism (DET) to rent a property short-term.

Leasehold — A long-term right to use a property for a set period (for example 99 years) without full ownership.

LTV (loan-to-value) — The share of a property's value a bank will lend. See mortgages.

Manager's cheque — A bank-guaranteed cheque used to pay the seller at transfer.

Mollak — The DLD/RERA system that approves and publishes service charges. See service charges.

Mortgage pre-approval — A bank's initial confirmation of how much you can borrow.

Musataha / usufruct — Long-term rights to use or develop land/property without full ownership, used for example in Abu Dhabi outside investment zones.

NOC (No Objection Certificate) — A developer's confirmation that there are no outstanding charges, required to transfer resale or off-plan property.

Off-plan — Property sold before construction is completed.

Oqood — The DLD interim register where off-plan purchases are recorded until the title deed is issued.

ORN (Office Registration Number) — The RERA licence number of a real estate agency. SPI Dubai's ORN is 30760.

Owners association — The body representing owners in a jointly owned building, managed by a licensed company.

Payment plan — The schedule of payments for an off-plan property, for example 60/40 or post-handover. See payment plans.

Post-handover plan — A payment plan where part of the price is paid after receiving the keys.

RERA (Real Estate Regulatory Agency) — The regulatory arm of DLD that licenses brokers and developers and regulates off-plan sales, service charges and rents.

Rental index — DLD's tool that determines permitted rent increases at renewal.

Service charges — Annual fees for building maintenance and shared facilities, per sq ft.

Snagging — Inspecting a new property for defects before or at handover.

SPA (Sale and Purchase Agreement) — The contract between buyer and developer for off-plan property.

Title deed — The official document proving ownership, issued by DLD.

Trakheesi permit — The DLD advertising permit (with a QR code) required for every property advert.

Trustee office — A DLD-authorised office where resale transfers are completed.

Questions about a term in your contract?

Ask an SPI Dubai advisor to explain any document in your deal — we usually reply within 10 minutes. Contact us.

This glossary is for general information only and is not legal advice.

Sources: Dubai Land Department and RERA (official terminology and services); Dubai Law No. 8 of 2007.