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Freehold communities in established neighborhoods to be built by Dubai developers

14.09.2014
Freehold communities in established neighborhoods to be built by Dubai developers
In light of the flourishing real estate market in Dubai, developers are now looking beyond established free hold communities to launch their residential projects.   As the Dubai real estate market flourishes and the demand for investment increases, developers are now looking out for other locations other than the established freehold areas for their new projects. Tecom Investment recently under took a villa project on Umm Suqeim Road and Jersey Properties launched an apartment cluster in Mirdif, reported by Gulf News.
Developers are now concentrating on the freehold status of projects to attract more buyers. Jersey Properties claims that for the very first time, a freehold status will be granted to Mirdif Tulip apartments. The one bedroom apartments will be priced around AED 1.1 million. The three bedroom apartments will be priced  between AED 1.8 million to AED 2.2 million.
With numerous projects taking off in Dubai, developers are looking for any locational or marketing unique selling point (USP). And one such USP is building residential complexes in areas that have been restricted to non-freehold status. Furthermore, there is an issue of space in the existing freehold communities and developers are now offering a high-end living experience to its buyers.
Currently, Mirdif is an up scale area, where the residential communities have grown considerably. Also, the presence of the popular Mirdif city center has led many mall developers to consider projects here.
Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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1 hour

Contract of the lessee and agency.

Required documents:

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1 hour

Contract of the lessee and agency.
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Signing of the lease agreement

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-5% agency commission of the annual contract price

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1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

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Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
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  • 4% - registration of the transaction at registration
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Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

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1 year

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5% of the annual rental price

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From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
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  • 0% when investing in a new building
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