For off-plan buyers approaching completion: what happens at handover and why the valuation determines everything
When an off-plan property in Dubai reaches completion, ownership does not automatically transfer. The Oqood certificate—your legal proof of ownership during construction—must be formally converted into a title deed issued by the Dubai Land Department (DLD). This conversion is the step that makes your ownership permanent, enforceable, and financeable. For buyers who paid through a developer’s payment plan and now plan to take out a mortgage, or for those refinancing a construction-stage loan, the bank valuation conducted at this handover stage is what controls how much financing you actually receive.
The handover valuation is not a formality. Banks in Dubai commission independent reports from DLD-accredited valuers before issuing or amending any mortgage, and the assessed figure—not your original purchase price—becomes the basis for calculating the loan-to-value (LTV) ratio. Engaging professional property valuation in Dubai before you accept keys gives you an independent market benchmark against which to assess the bank’s report, identify any discrepancy early, and make an informed decision before committing to a mortgage or a post-handover refinancing structure.
For buyers who financed their off-plan unit with one lender during construction and want to move to a different institution at or after handover—to access lower rates or longer repayment terms—the same valuation logic applies even more sharply. A mortgage transfer to another bank in Dubai requires a fresh DLD registration and a new bank valuation, and the outcome of that valuation determines the maximum refinanced amount. If the completed property is valued below original contract price, the new LTV calculation reduces what the incoming bank will lend, and the buyer must bridge the shortfall in cash.
From Oqood Certificate to Title Deed: How the Conversion Works
The DLD’s Oqood system records all off-plan transactions and serves as the official ownership register during construction. Once the developer obtains a project completion certificate from the DLD and issues formal handover notices, buyers must clear all outstanding dues—final SPA installments, service charge pre-payments, and any developer-specific admin fees—before the conversion can proceed. The developer then issues a No Objection Certificate (NOC), typically costing AED 500 to AED 5,000 depending on the development, which confirms the property carries no unresolved financial obligations (according to Dubai Land Department transfer procedures).
With the NOC in hand, the buyer or their authorized representative visits a DLD Real Estate Services Trustee Centre to submit the title deed issuance request. The DLD verifies that the project and buyer details match the Oqood system records, collects applicable government fees—AED 250 for title deed issuance, plus AED 10 knowledge fee and AED 10 innovation fee per applicable DLD fee schedule—and issues the electronic title deed by secure email. In practice, when all documents are correctly prepared and the Oqood record is clean, this step can be completed within approximately 25 minutes at the trustee counter. Discrepancies between the buyer’s identification documents and Oqood records—even minor spelling differences—cause immediate processing holds.
What Triggers Delays at This Stage
The most common source of delay in off-plan title deed conversion is not the DLD itself but the developer’s internal clearance process. Service charge balances outstanding for even one payment cycle will block the NOC. In multi-phase master communities, both the unit developer and the master developer sometimes need to issue separate clearances before the DLD will process the title. Buyers should request a written statement of outstanding charges directly from the developer’s customer service desk—not from the sales team—at least 30 days before anticipated handover. This provides enough lead time to settle balances and obtain the NOC without delaying the bank valuation that must run in parallel.
Why the Handover Valuation Determines Your Financing Outcome
Banks in Dubai do not lend against purchase price. They lend against an assessed market value produced by a DLD-accredited valuation company. For off-plan properties approaching or completing handover, this distinction is particularly consequential because the market may have moved—either upward or downward—from the date of the original SPA. If you signed an SPA at AED 1.8 million in 2022 and the unit completes in 2026 with a current market value of AED 2.2 million, your financing position is strong and the LTV calculation works in your favor. The reverse scenario—where the completed unit appraises below the contract price—is where buyers find themselves with unexpected cash requirements.
Independent research and buyer case studies indicate that bank valuations on off-plan completions can come in at 10–15% below the original purchase price, particularly in projects where the surrounding market has softened or where comparable completed units within the same tower have sold at lower prices since the SPA date (according to off-plan mortgage analyses published by licensed UAE brokerages). A buyer who originally budgeted a 20% down payment based on a AED 2 million purchase price may discover the bank values the completed unit at AED 1.75 million, reducing their maximum mortgage from AED 1.6 million to AED 1.4 million and adding AED 200,000 to their required cash contribution at the least convenient moment.
Bank Valuation Versus DLD Valuation: An Important Distinction
There are two separate valuation mechanisms in Dubai’s property market, and they serve different purposes. A DLD-ordered valuation certificate—requested directly through the DLD portal or REST app—establishes the property’s value for official purposes including Golden Visa eligibility thresholds and gifting transfer fee calculations. A bank valuation is commissioned by the lender from a DLD-accredited firm on the approved panel for that specific bank, and it focuses on what that institution will finance. The two assessments may produce different figures. Golden Visa applications under the property investment route rely on the DLD valuation certificate confirming a value at or above AED 2 million, as confirmed by ICP and DLD procedures updated for 2026. If you need the valuation to serve both a mortgage application and a Golden Visa filing simultaneously, clarify with both the bank and your immigration adviser whether a single certificate satisfies both requirements or whether separate reports are needed.
The Mortgage Landscape at Handover
Taking a New Mortgage at Completion
Buyers who used a developer’s payment plan without any bank financing during construction and now want to mortgage the completed property apply for a standard residential mortgage once the title deed is issued. Lenders in Dubai generally require the following at this stage: valid passport and Emirates ID or visa, the issued title deed, a bank valuation from their panel, salary certificates or audited accounts for self-employed applicants, and bank statements typically covering six months. The UAE Central Bank’s February 2026 directive prohibits banks from financing the DLD’s 4% transfer fee, broker commissions, or registration fees, so buyers must now budget these as pure cash items separate from the mortgage calculation (according to the Central Bank directive effective February 1, 2025).
For residential properties up to AED 5 million, the maximum LTV for expatriate first-time buyers is 80%, meaning a minimum 20% cash down payment plus all transaction costs. On a AED 2 million completed unit with a bank valuation matching that figure, the buyer must have at least AED 400,000 in down payment cash, plus approximately AED 80,000 in DLD transfer fees (4%), an AED 4,000 trustee office fee, an AED 250 title deed issuance fee, a mortgage registration fee of 0.25% of the loan amount plus AED 290, and a bank valuation fee typically ranging from AED 2,500 to AED 3,500 plus VAT (per published fee schedules from major UAE lenders and DLD guidance). The total cash requirement for this scenario lands well above AED 500,000 before the bank issues any funds.
Refinancing and Mortgage Transfer After Handover
Owners of completed off-plan properties who financed during construction through a bank—under one of the structured off-plan mortgage products that became more accessible following a new product launch in July 2025—may want to refinance to a different institution once the title deed is issued, seeking a standard ready-property mortgage rate rather than the higher fixed rate applied to construction-phase financing. This is the mortgage transfer scenario, and the DLD regulates it as a formal process: the incoming bank commissions a fresh valuation, the outgoing bank issues an NOC confirming the current outstanding balance, and the DLD re-registers the mortgage, charging 0.25% of the new loan amount plus AED 290. The processing time at the trustee office itself is typically 15 to 30 minutes once all bank documentation is aligned, though coordinating the NOC from the outgoing bank, the new approval, and the DLD appointment can take 3 to 7 business days in total (according to published mortgage transfer guidance from DLD-registered service providers).
The risk that buyers underestimate is the valuation outcome at the point of refinancing. A completed property valued lower than expected caps the incoming bank’s maximum loan at the new LTV, potentially leaving a gap between the outstanding balance on the old mortgage and what the new bank will lend. Buyers must have cash or access to bridge funding to cover this gap, or negotiate an extended redemption period with the outgoing bank while the incoming bank processes the application.
Documents Required for Handover Title Deed Conversion
The following documents are required when converting an Oqood certificate to a title deed at a DLD trustee office. Confirm the current checklist with your trustee centre before attendance, as project-specific variations apply:
- Original passport (minimum six months’ validity) or Emirates ID for UAE residents
- Valid UAE residence visa (or visit visa stamp for non-residents)
- Oqood certificate (original or electronic copy with DLD reference number)
- Developer NOC confirming all dues are cleared
- Project completion certificate issued by the developer and approved by DLD
- Full SPA payment receipts
- Mortgage liability letter and current bank NOC (if property was financed during construction)
- Power of attorney if the buyer is not attending in person (must be attested appropriately)
Handover Cost Summary
| Item | Amount | Notes |
|---|---|---|
| Title deed issuance fee | AED 250 | DLD fee schedule |
| Knowledge and innovation fees | AED 20 (AED 10 each) | Per DLD fee schedule |
| Apartment/villa map fee | AED 250 | DLD fee schedule |
| Trustee office fee (off-plan) | AED 5,250 | Per DLD service partner fee schedule |
| Developer NOC fee | AED 500 – AED 5,000 | Varies by developer |
| Bank valuation (if mortgaging) | AED 2,500 – AED 3,500 + VAT | Major UAE lender guidance |
| Mortgage registration fee | 0.25% of loan + AED 290 | DLD mortgage fee schedule |
| DEWA connection deposit | AED 2,000 (apt) / AED 4,000 (villa) | DEWA standard deposits |
Common Valuation Issues at Handover
The valuation gap on high-appreciation properties. In markets where off-plan prices rose sharply during construction—as seen in several Dubai communities between 2021 and 2024—some buyers may find that the bank’s conservative valuation methodology produces a figure lower than what comparable units are actually transacting at in the open market. DLD-accredited valuers use the market comparison approach based on registered DLD transactions, and if few comparable sales exist for a newly completed building, they may apply a discount to reflect uncertainty. Requesting a copy of the valuation report and reviewing the comparable transactions used is a legitimate buyer right, and discrepancies in the comparables selected can sometimes be challenged through the bank’s formal review process.
Oqood records that have not been updated. On rare occasions, construction-stage resales or developer name corrections do not update cleanly in the DLD Oqood system, and the current buyer’s details at the time of title deed conversion reflect the previous buyer’s information. This creates a processing block at the trustee counter. The correction requires engagement with both the developer and the DLD, and can delay the handover timeline by several weeks. Buyers who purchased off-plan in the secondary market—from an original buyer rather than the developer—should verify through the Dubai REST app or the DLD Property Status Enquiry portal that their name appears correctly in the Oqood register well before the anticipated handover date.
Projects with multiple completion phases. In large master developments, different towers or blocks receive completion certificates at different times. A buyer whose unit sits in a phase that completes later than originally projected cannot proceed with the title deed conversion until the DLD approves that specific phase—regardless of when the rest of the community was handed over. Track project status using the DLD’s online project tracking service, and do not treat a general handover announcement from the developer as confirmation that your specific unit’s phase is approved.
FAQ
How long does it take to convert an Oqood certificate to a title deed in Dubai?
Once the developer issues the NOC and the buyer has all documents in order, the trustee office appointment itself takes approximately 25 minutes under normal conditions, and the electronic title deed arrives by email within the same session or on the same day. The total timeline from developer’s handover notice to title deed in hand—including settling outstanding dues, obtaining the NOC, and scheduling the trustee appointment—realistically runs 2 to 4 weeks for buyers who begin preparation promptly. Delays in obtaining the developer NOC, usually due to unpaid service charges, are the most common source of extended timelines.
Can the bank’s valuation at handover differ from the original purchase price?
Yes, and this is one of the most financially consequential surprises for off-plan buyers. Banks use DLD-accredited independent valuers who assess the unit based on current comparable market transactions, not the price in your SPA. In markets that have softened since your purchase, the valuation may come in 10–15% below your contract price, reducing the maximum mortgage the bank will issue and increasing the cash you need to bridge the difference. Planning for a conservative valuation scenario when budgeting for handover costs is strongly recommended.
What documents does the developer need to issue the NOC?
The developer typically requires proof that all SPA installments and service charge pre-payments have been settled, plus any admin or handover processing fees specific to that development. You will also need to present your original identification documents (passport and Emirates ID if resident). In some master communities, clearance from the master developer must also be obtained separately before the unit developer will issue the NOC. Confirm the exact requirements with your developer’s completion team at least 30 days before anticipated handover.
Is a bank valuation required if I am paying cash and not taking a mortgage at handover?
A bank valuation is only mandatory if you are applying for a mortgage or refinancing. Cash buyers completing an off-plan title deed conversion do not require a bank valuation for the DLD registration process. However, if you later wish to mortgage the property, rent it under Ejari, or file for the UAE Golden Visa based on the property investment route, you will need either a DLD valuation certificate or a bank valuation depending on the specific purpose.
Can I transfer my mortgage to a different bank immediately after the title deed is issued?
Yes. Once the title deed is issued and the property is fully registered with the DLD in your name, you can initiate a mortgage transfer to another bank. The process requires a valuation commissioned by the incoming bank, an NOC from the current lender confirming the outstanding balance, and DLD re-registration of the new mortgage at 0.25% of the new loan amount plus AED 290. The full process takes 3 to 7 business days on average. Attempting the transfer while ownership is still in Oqood status (before the title deed is issued) requires different procedures and DLD Oqood registration services at AED 5,000.
Does the handover valuation affect Golden Visa eligibility?
Yes. Golden Visa applications under the property investment route require a DLD valuation certificate confirming the property value is at or above AED 2 million, per current ICP eligibility rules updated for 2026. If the DLD valuation at handover produces a figure below AED 2 million—even if you originally paid more—you would not meet the threshold on the basis of that certificate. The assessment uses DLD’s official methodology; applicants should verify the certificate confirms the required threshold before submitting a visa application.
What happens if the developer delays handover beyond the SPA date?
Under Dubai Law No. 13 of 2008 and RERA’s regulatory framework, buyers retain protection if a developer fails to hand over on the contractually agreed date. If you are financing at handover and your mortgage pre-approval expires due to construction delays, you will need to reapply—potentially under different interest rate conditions than your original pre-approval. A new bank valuation will be conducted at the time of the reapplication. Delay compensation rights and refund eligibility depend on the specific circumstances and the project’s registration status with RERA; confirm current dispute options with the Real Estate Regulatory Agency or the Dubai Rental Disputes Centre.
How does snagging affect the handover and title deed timeline?
Snagging—the process of identifying construction defects before formally accepting the unit—does not legally block the title deed conversion if the buyer accepts handover with noted defects under a signed snagging report. However, accepting keys formally triggers the start of the developer’s warranty period, typically one year for finishing defects and ten years for structural elements under UAE law. Buyers who delay accepting handover to negotiate snagging resolutions are simultaneously delaying their title deed conversion, their ability to lease the property, and—if applicable—their mortgage registration and Golden Visa filing. The practical approach is to accept handover with a detailed written snagging list and pursue rectification in parallel with completing the DLD registration.
