Dubai Homes Solutions: Real estate

Showing posts with label Real estate. Show all posts

Monday, June 9, 2014

Exclusive: The list of cancelled property projects in Dubai by RERA

Last date of submitting applications is August 31: Dubai Courts

Parag Deulgaonkar

Published Monday, June 09, 2014

Dubai Courts has put out a list of developers and their cancelled projects.

To date, Dubai’s Real Estate Regulatory Agency (Rera) has never officially published the list of cancelled projects.

Eighteen developers have been listed on the court's website with the total number of cancelled projects being 36. No date of when the information was uploaded has been mentioned on the website.

The following is the list of developers and cancelled projects:

Remah Holding Limited
Tower 88

High Rise Properties LLc

Dorna Tower
Orchid Residences
The Heights-Golden
Waves Business Tower
The Heights-Silver
Rotating Residence
Heigh Rise Boulevard1
Heigh Rise Boulevard2

Alternative Capital Invest Gmbh

Wings Of Arabia

Khyool Investment Llc

Abjar Tower
Faras 2

Makaseb Properties

Rufi Tower (Quattro)
Archery Tower
Rufi Lake View
Quattro West

Dheeraj & East Coast Llc

Cascade Manor

Merwess Abdulaziz

Azizi Feirouz I
Azizi Feirouz II
Azizi Feirouz III
Azizi Fountanne Tower

Bux Holdings Limited

Beti Ul Funoon

Cliff Dwellings Enterprises Ltd

Global Golf Residence

Parshwa Holdings Limited

Sapphire

Galadari Investment Office Limited

G-Office Tower

Escan Real Estate PJS

Escan Tower

ME Development Llc

Windsor Residence

IR Investments Holding Company Limited

Tonino Lamborghini-Elettra Residence

Orbit Holdings Ltd

Orbrit Holding

Al Zahra Properties

Eden 1
Eden 2
Sunset Gardens B
Sunset Gardens A
Sunrise 2

Hampstead & Mayfair Development Limited

Hampstead Residences

Zenith Real Estate Development Llc

Zenith Tower A3

Dubai Courts, on its website, states the committee will resume the first stage of its agenda in the above-mentioned list of cancelled projects.

The last date for submitting the manual or electronic applications by investors is August 31, 2014.

Investors can register manually by paying a visit to Dubai Courts in the evenings from 2.30 pm to 7.30 pm on the main building 'central services hall on the first floor' or electronically by clicking on the name of the project and then filling in the required data, the Courts states.

"The committee for the liquidation of cancelled real estate projects in the Emirate of Dubai and settlement of rights related thereof, specializes in liquidation of real estate projects, by which a final decision of cancellation has been issued by Rera, whereas the judgments, orders and decisions issued by the committee shall be final, peremptory and unappealable by all means of a regular appeal, and shall be executed by the implement Department Dubai Courts," Dubai Courts said.

In July 2013, the Dubai issued Decree No. (21) of 2013 setting up a special legal committee for the liquidation of cancelled property projects and the settlement of rights disputes related to such projects.

(Read: Panel to liquidate cancelled property projects in Dubai set up)

Rera officials have previously declined to release the list of cancelled projects, stating investors are sent emails of the cancellations, real estate experts have called for release of the information on cancelled projects.

Rera data reveals 187 projects have been completed since the beginning of 2009; 253 projects are on hold; 232 projects are likely to be completed in due course.

Saturday, May 17, 2014

The Living Legends DubaiLand Competitive Prices And Payment Plan.

THE LIVING LEGENDS DUBAI LAND.

The residential apartments are considered one of the essential
elements of the project that ensure a distinguished and innovative
environment. These apartments are located in 12 residential
towers that overlook the golf course and are centered within
the project’s community center making the distance between
the community center and the residential towers a short and
convenient walk.
The apartments offer residential spaces of various surface areas
ranging from studio apartments to three-bedroom apartments
in addition to the penthouses on the top floors. Each building
offers segregated gyms with dedicated washroom areas. Each
building will also have its own designated swimming pool and
landscaping.
The buildings range from (B*+G*+9 TF*+2P*) to (B*+G*+
20TF*+2P*) in height. The parking is located on the basement
level with the option of additional parking space that can be
acquired.
G:Ground B: Basement TF: Typical Floor P: Penthouse T:Terrace

3 Buildings will be handed over before the end of this year and the rest of the buildings
will be handed over before the end of 2015

Studio Apartments

Studio Apartments are available from Ground
Floor to the 4th Floor only.
BUA: 365-524 sq.ft
Pantry
1 Bathroom with tub
Balcony
Big private terrace at Ground Floor level

For details on prices and availability please contact Edith at edithmakena@gmail.com.

1 Bedroom Apartments

One-Bedroom apartments are available every floor.
BUA: 880 - 1,000 sq.ft
Kitchen
Master bedroom with private bathroom
Guest washroom
Balcony
Big private terrace at Ground Floor level

2 Bedroom Apartments

Two-Bedroom apartments are available on all floors.
BUA: 1,450 - 1,550 sq.ft
Kitchen
2 Master bedrooms with private bathroom
(except the Ground Floor ones)
Guest washroom
Balcony
Big private terrace at Ground Floor level

3 Bedroom Apartments

Three-Bedroom apartments are available from the 2nd floor to the Penthouse top floors.
BUA: 1,875 sq.ft
Kitchen
Master bedroom with private bathroom
Shared bathroom for the other 2 bedrooms
Guest washroom
2 Balconies
Store room + laundry room

Penthouse Apartments

Penthouse apartments are available on the 2 top floors of each building.
4-Bedroom luxurious units, 2 Master bedroom
Penthouse total BUA: 4,000 Sq.ft
Kitchen
Dinning room
Guest washroom
2 Balconies
Terrace swimming pool + shower
Store + Laundry + Pressing room

Living Legends project facilities

Children Play Ground Area
Landscaped Gardens
Medical Clinic
Shopping Centre
Hotel
Golf Course with International Standards
Golf Club House
Gated Community with 24HR Security
Advanced Fire Protection System
Nursery, Kindergarten and Primary School
Mosques

For details on prices and availability please contact Edith at edithmakena@gmail.com.

Thursday, May 15, 2014

Costliest and cheapest areas to rent 2-bedroom apartments in Dubai

Palm Jumeirah costliest but Discovery Gardens shows maximum increase

Palm Jumeirah is the costliest community to rent a two-bedroom apartment in Dubai, but Discovery Gardens registered the maximum increase in the first quarter of 2014, according to a new report released by Land Sterling.

Average rents for two-bed units in Palm Jumeirah were at Dh170,000 per annum, rising 6 per cent in the first quarter compared to the final quarter of 2013, Land Sterling said in its Q1 report.

Discovery Gardens saw rents jumping 13 per cent to Dh90,000 per annum during the same period.

IMPZ and Business Bay saw rents for two-bed units rising by 12 per cent each.

Units were leased on average for Dh83,000 pa and Dh145,000 per annum, respectively.

Downtown Dubai saw a 3 per cent hike in the first quarter, compared to Q4 2013, and is at Dh165,000 per annum on average.

Dubai Silicon Oasis rose by 2 per cent with average rents being Dh87,000 pa.

In International City, on an average, a two-bed is being leased at Dh70,000 pa, with a quarter-on-quarter increase of 8 per cent.

Earlier this month, Asteco Property Management put the rental increase quarter-on-quarter for Palm Jumeirah, Discovery Gardens and Downtown Dubai at 3, 4 and 6 per cent, respectively.

With the population of Dubai expected to grow to 3.1 million in 2020 (at an assumed CAGR of 5 per cent), analysts estimate housing requirement to increase by 170,000 units in 2020, the report said.

“In the run-up to World Expo 2020, most of the city's supply estimates - residential, ofﬁce, retail and hospitality - are being built based on the development requirements needed to host such an international event.

“Though developers may favour hospitality projects over residential ones during this interim period, housing supply needs to be maintained at the current historical average of 21,000 units per year to avoid any shortage, which may result in spikes in sales price and rent,” Land Sterling analysts asserted.

Emirates 24|7 reported earlier that Dubai was unlikely to witness oversupply of housing units with experts and developers ruling out any glut in residential market.

HSBC Global Research said this month that Dubai will see a supply of 90,000 new units by 2018, but the market will absorb – fairly easily — the new supply even if the population grows less than 5 per cent per year.

“We believe that we have not yet reached the peak of the cycle, and that the market can continue to absorb the expected supply additions over the next few years, even at a population growth rate below 5 per cent,” the bank said.

Wednesday, April 23, 2014

Dubai is to build the largest ever Expo site under the theme ‘Connecting Minds, Creating the Future'

The UAE has won the right to host the World Expo 2020 in Dubai under the theme ‘Connecting Minds, Creating the Future’. Every five years and for a period of six months, World Expos attract millions of visitors. The World Expo has never been held in the Middle East, Africa and South East Asia in the history of the event.

Dubai is to build the largest ever Expo site at Jebel Ali Dubai World Central (DWC) ahead of hosting the event in 2020 at a cost of between $2-4bn.
And Cynthia Corby, audit partner, construction industry leader, Deloitte Middle East, revealed ‘secondary infrastructure spend’ will be upwards of $8bn, and will include construction opportunities in the transport, hospitality, retail and commercial sectors.
She said: “With Dubai winning Expo 2020 we will see renewed confidence in the already improving construction industry. In a market that relies upon confidence and optimism, this is a much-needed stimulus to create momentum for a renewed development and economic cycle.”
Dubai’s Roads and Transport Authority (RTA) has revealed that they will fast-track a $1.36bn expansion of Dubai Metro’s Red Line to connect to DWC.

And Emaar Properties have announced that it has signed a memorandum of understanding with DWC to develop a massive (13.63mn m2) golf-centred residential estate adjacent to the area surrounding the Expo 2020 site.
In the company's report: 'Expo 2020: A game changer for Dubai', Corby said: “These are the first of many announcements regarding large-scale projects being planned in the wake of the Expo win.
“It only takes a quick analysis of the impact of an expected additional 20mn international visitors over a six-month period to see that significant investment in hospitality and retail infrastructure will be required.”
It is estimated that up to 30% of the potential 300,000 jobs created by Expo 2020 will be in the construction sector alone.

The government has also announced that all new and existing construction projects are going to be fast- tracked to be ready for 2020.
However, Jesdev Saggar, managing director, Infrastructure and Capital Projects, Deloitte Corporate Finance Limited, urged a level of caution as the Emirate continues its recovery from the economic crisis that enveloped the world in 2009.
He said: “Dubai has been dealing with the close out of its financial obligations over the downturn years and the lessons learnt during the close out of these obligations would be usefully applied to avoid this pressure as the government is to embark on funding future infrastructure to meet the demands of hosting a global event.
“While challenging, that does not mean that it cannot be done, these challenges can be met with the right planning and coordination of spend across all the authorities.
“Expo, like any major event is all about coordination and planning and its success or failure will be a result of how well the authorities unite to capitalize on its potential.”

if you are thinking of high returns on investment in Dubai please contact me on edith@flashproperties.com or +971557162933.

Monday, March 31, 2014

Emaar Launches Samara Villas In Dubai’s Arabian Ranches

The community will feature 177 villas in four styles.

By: Mary Sophia
: 19 hours ago

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Dubai developer Emaar has announced the launch of Samara, a villa community, in its popular development Arabian Ranches after recording strong investor interest for its previous communities.

The new project, which includes villas designed according to Spanish coastal architecture, will feature 177 three to five –bedroom villas in four styles, the developer said in a statement.

The community will also have amenities including a large retail centre, specialty food and beverage outlets, a healthcare centre and a daycare centre.

Located at the crossroads of al Qudra and Sheikh Mohammed Bin Zayed Road, Samara offers easy access to Dubai’s main hubs including Dubai Marina, Dubai Media City and Dubai Internet City.

“Each residential community within the Arabian Ranches development has recorded robust demand from investors,” said Arif Amiri, chief commercial officer, Emaar Properties.

“Through ‘Samara’ we are offering another opportunity to be part of one of Emaar’s fully-established communities featuring a golf course, polo club, and a Residents club.”

Emaar will launch sales for Samara in Dubai and Abu Dhabi on April 5 at 10am. Online registration for the sales in both the cities will begin on April 2, the developer said.

The real estate firm has been expanding the Arabian Ranches neighbourhood with various types of themed villa communities such as CASA, Rosa, Palma, Rasha and Lila. Most recently, it also announced the launch of Arabesque-styled villa community Yasmin within the development.

Emaar has been launching a string of new projects as it looks to tap into Dubai’s yet-again booming real estate sector.

The Dubai-based property firm recently launched BLVD Crescent, a residential development in Downtown Dubai, which features two towers of 39 and 21 storeys. The project will consist of over 300 luxury residential units.

Spurred by strong investor interest, Emaar also launched the second phase of its residential complex Mulberry at Park Heights in its Dubai Hills Estate development.

for information on registration please contact me on edithmakena@gmail.com or +971557162933.

Tuesday, March 25, 2014

All You Need To Know About Investing In Dubai Off-plan Properties and Escrow Accounts FAQ

THIS IS FAQ AND ANSWERS FROM DUBAI LAND DEPARTMENT.

What is the real estate escrow account? The goal of it? Who has to have it?

The escrow account is the bank’s account of the project in which amounts collected
from buyers of off-plan properties are deposited or amount by project’s financers.
The escrow account aim is to regulate the functioning of the construction process of
units sold off-plan, thus safeguarding the rights of investors.
The law applies to all developers in Dubai without any exception who sell properties
off-plan in Dubai, and in return they receive payments from the buyers or financers.

Who are the parties obliged to open an escrow account?

The law applies to all developers in Dubai without any exception who sell properties
off-plan in Dubai, and in return they receive payments from the buyers or financers.

Which financial institutions are approved by RERA to manage the escrow account?

You can visit the Department's account of Trustees
http://www.dubailand.gov.ae/English/Tanzeem/Developers/trusteeslist.aspx

Does the law apply to projects that have been announced before its release?

The law applies to all projects selling off-plan either before or after the law.
The law gives a period of 6 months since its release for all developers to adjust their
situation in accordance with Law No. 8/2007 concerning real estate escrow account.

What are the ways available to communicate with the Real Estate Escrow Account Department?

You can communicate with the department by:

E-mail: trust@dubailand.gov.ae
Phone: 042030555
Fax: 042349219
For more information, please visit the website: www.dubailand.gov.ae

What if the investor pays amount far outweigh the completion progress
or the project hasn’t started or under cancelation?

If the project hasn’t started or under cancellation: The Land Department isn’t
authorized to terminate any contract between the developer and the investor at
the request of the investor. If the investor is willing to terminate the contract,
he/she must refer to the concerned real estate court.
The Department’s role in this case is to try to reach an amicable settlement between both parties.
If the project is canceled: The escrow account is transfer to the Section of Projects’
Liquidation which, in turn requires the developer to repay investors within 60
days from the date of the cancellation. In case RERA sees a necessity to postpone
the deadline it might extend this period. In case the developer fails to commit,
the case is transferred to the court in order to secure the right of investors.
If the percentage of project progress is 5% or less, and all paid amount are deposited
into the escrow account and the investor is willing to obtain the money back through RERA,
given the developer hasn’t and wouldn’t construct the project, refer to the answer
of question No 6 in the first paragraph.
If the project isn’t cancelled and the investor is willing to obtain the money back,
the investor must refer to the court.
If the project in the process of cancellation or cancelled: At this stage, the project
isn’t cancelled yet. And there are several procedures that must
be followed prior to the cancellation such as (submitting remedy,
the Committee’s consideration of the remedy, issuing statement by the committee
on which the necessary action is taken). This process takes 3 months at least.

What is the role of the liquidation of real estate projects section,
specifically for all projects canceled - under cancellation - completely stalled.

The liquidation section role begin once the project is cancelled upon the
developer’s request/or the project is cancelled and not in the process of cancellation.
Then, the section will recover the amounts from the escrow account and deposit them in
the Trust Account in the Land Department to be distributed to beneficiaries,
whether in full or in a certain percentage according to what is available in the account.

What about projects that have not been cancelled and the progress is less than 5%?

RERA monitors progress of construction on the project on a regular basis and in the
event that the project is stalled or the progress is very minor, the developer will be
addressed to cancel the project. If there are no reasons justifying halt of construction
of slow progress and failure to provide justifiable reasons for that, RERA will start the
process of cancellation of project as per the procedures it follows.

Why there is no enough information about the history of progress in ongoing projects and delayed?

Due to the current situation, and developer’s inability to start construction
so there is no timeframe given about the start of construction by the developers,
so it is difficult to identify specific date for the completion of these projects.
However such projects might be subject to cancellation.

What the expected time period for the liquidation is of cancelled and stalled projects?

The period is indefinite, once the complete documents and details of payments and
eligible persons each projects will then be in the track of liquidation.
Most investors complain about the inability to communicate with some developers and
about the process and completion phase and they can’t obtain this clear
information from the developer, however they are demanded to make new payments.
However, due to the payments are scheduled according to the percentage of completion,
and the investor has the right once received a request for payment from the
develop to inquire about the percentage of completion in the current project by a
letter from the project consultant/approved by the Land Department. Otherwise,
the investor is not required to make the payment unless the project reached the
specific stage or completion percentage according to the agreed payments schedule
between the parties.
Does the investor have the right to request the completion rate for any project or a
simplified report on the project.
Investor may obtain completion percentage report prepared by the technical auditor
of RERA after paying the audit fees of AED 15000 + AED 10 as knowledge surcharge.

Can the investor cancel his contract with the developer without resorting to the judiciary?

The Land Department isn’t authorized to terminate any contract between
the developer and the investor at the request of the investor.
If the investor is willing to terminate the contract with the developer,
then he/she must resort to the concerned real estate court.
The LD role is limited to conciliation between the parties and settles the
dispute amicably without having the final word in the dispute and
without intervention in the final settlement.

What if completion rate, for example, 40% - 60% and the project is
completely stalled and the developer is absent like Dubai Star Project?

In such cases, the Land Department and RERA intervene to safeguard the
rights of the concerned parties and for the completion of the project.

Is there a law deterrent to developers’ manipulation and those offenders by RERA?

All laws issued stipulate the existence of sanctions against developers in
conflict with the laws and regulations for real estate development.

What are the procedures to open an escrow account?

The developer must fill the form on "registration developer & project approval"
and provide the required documents after the adoption of the project by
RERA represented in the Department of escrow account.
The account is opened by the account trustee based on the certification of the project.

Who can manage the escrow account?

A bank or financial institution licensed by the Central Bank of the United Arab Emirates
to receive deposits of others and operating in Dubai can serve as account trustee.
This bank or institution, must be accredited by RERA and must sign a written agreement
with RERA stating the terms and conditions of managing escrow accounts.

Can escrow account trustee, offer financing for the project’s developer?

Yes, the bank or financial institution can serve as account trustee can provide financing of the project.

For which purposes amounts deposited in the escrow account can be utilized?

As a general rule, the amounts can only be paid from the escrow account to
make payments for the land, contractors, consultants and marketing related to the project.
Not all expenses incurred by the developer on the project are eligible to be paid from
the escrow account. For example, a 5% only of total sales can be used for marketing the project.

Can amounts deposited in the escrow account be used for making payments?

The written agreement between the developer and the account trustee
contains details of the main phases of construction required for releasing
certain amount from the escrow account. The project’s manager working for the
developer will inform the account trustee abut completing a certain major phase,
and will submit a request to make payment to service providers. The responsible
engineer of the trustee side will visit and audit the project, and to confirm that the
major construction phase mentioned has been completed. Once this is done,
the account trustee is entitled to pay the needed payment to service providers from the escrow account.

What is the purpose of the withheld amount of 5%?

Article 14 of the escrow account law states holding 5% of the total amount paid in the
escrow account for a period of one year after completion of the project.
This amount act as a guarantee that the developer or contractor will effectively address any
clear flaws in that property upon completion which can appear within one year of completion.
The law became effective on June 28, 2007, when it was published in the Official Gazette.

If the developer had begun selling off plan and need to open an escrow account,
shall the developer deposit the amount he collected earlier from the investors?

Yes, all amounts received from the buyers must be deposited in the escrow account.

What are the financial institutions approved by RERA for the management of the escrow account?

1. Dubai Islamic Bank

9. National Bank of Abu Dhabi

2. Emirates IslamicBank

10. Bank of Sharjah

14. Al Masraf

3. Abu DhabiCommercial Bank

11. Bank of Baroda

15. First Gulf Bank

4. Emirates NBD Bank

5. Standard Chartered Bank

6. Mashreq Bank

7. Al Ahli Bank of Kuwait
8. Noor Islamic Bank

12. Citibank

13. Abu Dhabi
Islamic Bank

16. Sharjah Islamic Bank

17. United Bank

What are the objectives of the escrow account law?

The law was issued in order to control of the real estate market in Dubai and to regulate
the construction and selling of properties off-plan to guarantee the rights of buyers.

What about projects that have been announced before the law issuance?

The law applies to all projects announced by before/after the publishing
of the law in the Official Gazette. In some cases, the developer may be excluded
from opening the escrow account, especially for projects near completion and has
if company doesn’t have other issues in its projects or with its investors.
However, the granting of the exception, is jurisdiction of RERA.

How to manage the escrow account?

The escrow account must be opened bearing the name of the project, and it must
be utilized for purposes related to developer of the project. The amount deposited in
the account can’t be seized on behalf of the developer’s creditors.

if you need more information on the Dubai market please contact me on edith@flashproperties.com

Monday, March 17, 2014

"TIRED OF QUEUING", I can register you for Boulevard Crescent through EPA (Emaar Preferred Access) for this Sales event.

Launching sales on 22nd March 2014 BLVD Crescent in Downtown Dubai by Emaar.

Twin towers will offer views of Burj Khalifa, the Dubai Fountain and the Opera District

Emaar Properties, a Dubai-based developer, is launching BLVD Crescent, a twin tower development in Downtown Dubai.

BLVD Crescent has a main tower comprising 39 levels of residential apartments, a second tower of 21 levels and a further level of podium apartments, according to the company website.

The towers will offer views of Burj Khalifa, the Dubai Fountain and the Opera District.

Please provide the following details should you wish to be registered for EPA

Name as per Passport
Date of Birth
Nationality
Passport Number
Passport Date of Issue
Passport Date of Expiry
Mobile Number
Address and PO Box
Email Address

Include all and send it to edithmakena@gmail.com.

I'm a registered Broker ID number 28723.

The project is being launched simultaneously in Dubai, Abu Dhabi, Almaty and Shanghai.

Online registration for Dubai and Abu Dhabi opens on March 19 with sales starting on March 22.

Emaar Chairman Mohamed Alabbar told Emirates 24|7 that the company was not going out replicate Downtown Dubai model anywhere in the emirate and ruled out plans to build a tower higher than 828-metre Burj Khalifa.

“Our Downtown is the Downtown. We will never build a tall building like this (Burj Khalifa) so Downtown will always remain the Downtown,” he said.

The developer on Saturday announced plans to list up to 25 per cent of the Emaar Malls Group equity through a secondary offering of shares.

The funds raised through the sale of 25 per cent of the company, estimated to be between Dh8 to Dh9 billion (over $2 to $2.4 billion), will be primarily distributed as dividend to the company’s shareholders.

Sunday, February 2, 2014

The Last Great Investment In Down Town Dubai With Amazing Burj Khalifa Views

New Downtown Dubai project: Prices @ Dh1,800 psf
Project completion by December 2016

Elite Downtown is located next to Emaar’s Southridge cluster. (Supplied)
A Dubai-based private developer will be launching a new residential tower in Downtown Dubai and will sell units starting at Dh1,800 per square feet, Emirates 24|7 can reveal.

Now a Privileged Selection of customers will have the opportunity to own luxury homes within the 'Elite Downtown Residence' the newest masterpiece in Downtown Dubai.
The homes will be with premium finishes and luxurious amenities, the Elite Downtown Residences homes in the center of Dubai will be a 24-storey tower, which also features a five star premium pool and gymnasium and numerous other facilities.

“We will soon be launching Elite Downtown Residences, which we plan to deliver it in December 2016,” .

A View On Dancing Fountain

Elite Downtown Bay View

Elite Stylish Design

Elite Lobby

Elite Tower Plot Location

UNIT PRICES

Elite Private Gym

Elite Privately Designed

Exquisite Living Space

Elite DTR Location Map

3 years payment plan

In the past 18 months, Emaar Properties, Dubai’s largest developer, has launched series of projects The Address The Blvd, The Address Residence Fountain Views and Burj Vista in Downtown Dubai.

Damac Properties, a private developer, is the only other developer to have launched projects in the 500-acre master community, which has a development value of $20 billion.

Currently, off-plan properties in Emaar projects are selling between Dh2,400 and Dh3,500 per square foot in the secondary market. Prices, however, vary with the view and floor of the tower.

“We are not putting any clauses to ban speculators. People can buy and sell,” Beg added.

Emaar has already banned local real estate from selling any off plan property, bought in their own name, till completion. Investors have to make 40 per cent payment to sell in the secondary market.

The tower is located next to Emaar’s Southridge cluster and is being built by Triplanet Range Investments Ltd, which is a joint venture between Triplanet International and Range Investments. It will house nearly 200 furnished apartments.

Knight Frank’s Prime Global Forecast report has revealed that Dubai will top of the list of global cities that will witness double-digit price growth in 2014. It expects 10 to 15 per cent increase in prices.

The developer has already launched seven projects in Dubai Sports City of which five have been delivered and two in handover stage.
CONTACT ME FOR MORE DETAILS ON THE SAME.

http://www.emirates247.com/property/new-downtown-dubai-project-prices-dh1-800-psf-2014-01-08-1.533878

Thursday, December 26, 2013

Revealed: Dubai top 20 locations to rent or buy a property in 2013

Dubai Marina continues to be the outright favourite location in Dubai for buyers and tenants, but Dubai Sports City is fast growing in popularity, according to the latest statistics.

UAE property portal Propertyfinder.ae released its latest quarterly report on the most popular locations for users to search to buy or rent, with Dubai Marina once again the outright favourite.

A review of nearly two million visitors found 18.67 percent were searching for Dubai Marina units to buy, while 18.41 percent of those looking to rent were searching here too.

if you need more information remember My Tower Dubai Marina write to me on edithmakena@gmail.com. http://dubaihomesolutions.blogspot.ae/2013/12/amazing-views-from-my-tower-in-dubai.html.