Step 01

Choose your property

Browse and compare all 45+ active projects on and around Al Marjan Island at RAKCompare. Filter by price, payment plan, completion date and property type. Compare up to three properties side by side. If you are still unable to decide, contact us and we can give you a deeper and clearer comparison.

Step 02

Reserve your unit

Pay a reservation fee typically 5–20% of the purchase price which will be held in a RERA-regulated escrow account. Some developers request a booking fee of approx. AED 50,000 or USD 10,000. On successfully receiving the stated amount you will receive a Reservation Form. Bear in mind different developers have different procedures.

Important: Each developer has their own specific procedures. Always confirm the exact requirements with your chosen developer before proceeding.

Step 03

Fill out your Know Your Customer (KYC) details

Complete the KYC documentation by providing passport copies, email addresses, phone numbers, Emirates IDs (if applicable), proof of address, and source of income/funds declaration. For joint ownership, each party must submit their individual documentation separately.

Step 04

Pay your first instalment along with the admin fee

Once your documentation and KYC requirements are complete, the Developer will request payment of the first instalment along with an admin fee, typically ranging from AED 3,000 to AED 5,500.

Alternatively, some clients choose to pay 20% of the purchase price upfront, allowing them to proceed directly to signing the Sales and Purchase Agreement (Step 5).

Note: For some developers the admin fee will be in a different account than the instalment amount which will go to the Escrow account.

Step 05

Sign the Sales Purchase Agreement (SPA)

The legally binding contract between you and the developer. Review it carefully before signing. This SPA is usually signed upon receiving 20% of the purchase price into the escrow account. It sets out the full payment schedule, completion date and handover conditions.

Important: The Sales and Purchase Agreement (SPA) is a standardized legal document and cannot be modified. These contracts are prepared by specialist lawyers to ensure legal compliance and protect both parties.

Step 06

Pay according to your payment plan

Most off-plan projects use structured payment plans spread out over time until completion. Payments are made at regular intervals throughout the development period and at handover.

Step 07

Registration with the RAK Land Department

The Buyer will have to pay 4% of the purchase price prior to handover of the unit. In RAK this amount is taken at the time of handover unlike in Dubai where it is charged upfront.

Step 08

Handover and rental setup

On completion, take possession. If you require assistance in renting, selling or furnishing it we have all in-house departments under one roof. We will provide packages to our clients to choose from.

Buying Process - Direct from Developers