Emaar offers rent-free construction

15.02.2015
The developer will be offering 18 months of rent-free construction period to these school operators in its Reem master development. <p>Emaar Properties is leasing two plots in Mira and Mira Oasis community being built in its Reem master development, Emirates 24/7 reported.</p>

<p>The developer will be offering 18 months of rent-free construction period to these school operators.</p>

<p>The leasing rate for the school plots is set at AED12 per square feet for first 2 years with a 5% rent escalation every year, the company states.</p>

<p>The lease term is minimum 20 years. Companies will have to give a security deposit and construction deposit of 20 per cent and 10 per cent, respectively, of gross rent of first year rent.</p>

<p>However, the company says service charges haven’t been finalised.</p>

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