Glossary · AE
Memorandum of Understanding (MOU)
A document setting out the principal terms agreed between parties to a property transaction before the final transfer or sale documentation is completed.
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Around this term
Related terms.
No Objection Certificate (NOC)
A formal document confirming that the issuing party has no objection to a specified property transaction, transfer, alteration or other action.
Property Due Diligence
The process of investigating a property, transaction, ownership, legal status, financial obligations, physical condition and other relevant risks before proceeding with a purchase or investment.
Property Transfer
The legal and administrative process through which ownership or registered rights in a property are transferred from one party to another.
Chiller-Free
A UAE listing term meaning the cost of district cooling (air-conditioning) is included in the price or rent rather than billed separately to the occupier.
DEWA
The Dubai Electricity and Water Authority; buyers and tenants register a DEWA account and pay a connection deposit to activate utilities on handover.
Designated Area
An area in Dubai where property ownership rights are available to non-UAE nationals under the applicable property ownership framework.
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