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A glossary of real estate terms to help you in your investment journey.
The owner has absolute interest over the unit and the land it sits on for an indefinite amount of time. The owner can sell, lease or occupy at his will, and the property can be inherited.
An unconstructed property purchased directly from a developer. These properties and developments are fully planned, registered with the Dubai Land Department, and have an escrow account. They are usually marketed to investors and end-users before or while the construction is ongoing and to be paid with such financial terms.
Staging means preparing your property to hit the market, by showcasing its best assets in order to attract buyers so that you can sell immediately at the highest price possible.
Also known as short-term leases, these properties can be rented out on a monthly, weekly or daily basis. Holiday homes are furnished and ready to occupy, including utilities and other services to the guest.
Leasing brings less of a commitment in terms of housing, as well as opening up opportunities to live in communities and locations that would be out of price range otherwise.
Built Up Area (BUA)
Built Up Area, which is the total area that can be developed or built up. If you have a villa plot for instance, this is the absolute maximum size of the actual house, which usually isn't equal to the total plot size. The higher the BUA, the bigger you can build.
Floor Area Ratio (FAR)
Floor Area Ratio is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. Often used in regulations for city planning along with the building-to-land ratio. The terms can also refer to limits imposed on such a ratio through zoning.
Gross Floor Area (GFA)
This means Gross Floor Area, and it is the total sellable or leasable floor area that excludes parking and technical areas, etc. This terms is sometimes used interchangeably with Gross Leasable Area.
Net Leasable Area (NLA)
Net Leasable Area is the floor space that may be rented to tenants; area upon which rental payments are based. It generally excludes common areas and space devoted to heating, cooling and equipment.
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