Oqood is an Arabic word that translates to “Contract.”
In Dubai, Oqood is an online service provided by Emirates Real Estate Solutions (ERES). It offers a convenient registration process for all types of real estate and property-related contracts between buyers and real estate developers in the off-plan market.
Oqood’s online services assist developers in streamlining off-plan sales transactions. Developers can sell off-plan properties in a transparent and regulated process following the guidelines of the Dubai Land Department.
Similarly, Oqood protects buyers from fraudulent property transactions. Once a property is registered with the Oqood Dubai Land Department, the developer or owner cannot resell the same unit or villa to multiple clients.
One common real estate question among sellers is obtaining a No Objection Certificate (NOC) for reselling their properties. Oqood has a separate section where individuals or companies can obtain NOCs to resell the property. Oqood manual
Check out our article to learn more about NOC.