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Commercial Real Estate Offer To Purchase

Commercial Real Estate Offer To Purchase Template for United Arab Emirates

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Key Requirements PROMPT example:

Commercial Real Estate Offer To Purchase

"I need a Commercial Real Estate Offer to Purchase for a retail space in Dubai Marina, with completion planned for March 2025; the document should include specific provisions for existing tenant rights and mall management regulations."

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Document background
The Commercial Real Estate Offer to Purchase is a crucial initial document in UAE commercial property transactions, serving as the formal expression of interest and outlining proposed terms for acquiring commercial real estate. Used when a potential buyer has identified a suitable commercial property and wishes to formalize their purchase intention, this document is typically presented before the final sale and purchase agreement. It must comply with UAE federal laws, including the UAE Civil Code and Commercial Transactions Law, as well as specific emirate-level regulations such as RERA requirements in Dubai or Abu Dhabi property laws. The document includes essential elements such as property details, purchase price, payment terms, due diligence provisions, and conditions precedent, while considering local market practices and regulatory requirements specific to the UAE real estate sector.
Suggested Sections

1. Parties: Identification of buyer and seller with full legal names, addresses, and commercial registration details

2. Background: Context of the transaction, brief description of the property, and purpose of the offer

3. Definitions: Key terms used throughout the document including Property, Completion Date, Purchase Price, Deposit

4. Property Description: Detailed description of the property including address, size, boundaries, and any included fixtures/fittings

5. Purchase Price: Total consideration, payment structure, deposit requirements, and payment methods

6. Due Diligence Period: Timeframe and conditions for buyer's investigation of the property, including access rights

7. Conditions Precedent: Prerequisites that must be satisfied before proceeding to completion

8. Completion Requirements: Actions required by each party to complete the transaction

9. Warranties and Representations: Seller's warranties regarding property title, condition, and compliance with laws

10. Default and Remedies: Consequences of breach by either party and available remedies

11. Notices: Method and addresses for formal communications between parties

12. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction

Optional Sections

1. Tenant Rights: Required if property is subject to existing tenancies, detailing current lease terms and obligations

2. Financing Contingency: Include if buyer's purchase is contingent on obtaining specific financing

3. Property Management: Needed for properties with shared facilities or management contracts

4. Environmental Matters: Required for industrial properties or those with potential environmental concerns

5. Development Rights: Include if property has unused development rights or pending applications

6. Islamic Finance Compliance: Required if transaction must comply with Shariah principles

7. Free Zone Requirements: Include if property is located in a UAE Free Zone

8. Service Charges: Required for properties in multi-unit developments with shared services

Suggested Schedules

1. Property Plan: Official site plan, floor plans, and boundary details

2. Title Documents: Copy of title deed and other ownership documentation

3. Fixtures and Fittings: Detailed inventory of included and excluded items

4. Due Diligence Documents: List of required documents for buyer's review

5. Existing Tenancies: Details of current lease agreements and tenant information

6. Property Certificates: Relevant certificates, permits, and compliance documents

7. Payment Schedule: Detailed breakdown of payment terms and milestone dates

8. Property Management Agreements: Existing service contracts and management agreements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


























Clauses






























Relevant Industries

Real Estate

Banking & Financial Services

Retail

Hospitality

Manufacturing

Logistics & Warehousing

Healthcare

Education

Professional Services

Technology

Food & Beverage

Entertainment & Leisure

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk & Compliance

Business Development

Investment

Asset Management

Corporate Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Facilities Manager

Legal Counsel

Commercial Director

Investment Manager

Asset Manager

Business Development Manager

Operations Director

Risk Manager

Compliance Officer

Finance Manager

Corporate Real Estate Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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