Bullet-Point Property: Dubai No. 57

Earlier this week, Dubai approved its biggest ever budget as the emirate ramps up infrastructure spending in 2018 to finance work for Expo 2020. Expenditure will surge 19.5 per cent to Dh56.56 billion and revenue will increase 12.5 percent to Dh50.36bn in 2018.

The IMF is projecting growth of 3.3 percent for Dubai’s economy this year, and 3.5 percent next year, up from 2.9 percent growth last year.

In other breaking news - rain is forecast for the weekend - read all about it here.

This week, I have been assisting clients with the following;-

• The final touches are being made to the Serenia Residences on the Palm, and I was on-site this week to help with the snagging of a beautiful three-bed apartment, you can scroll through the pictures on my Instagram page. Have a look at my photos and then see the artists impressions in the brochure here – spot the differences?. We have some beautiful one beds starting at AED 2.2m, two beds at AED 3.2m and a small selection of stunning three beds with panoramic views starting at over AED 8m. 

• I know that I keep going on about this developer, its only because they are regulars in my top five recommendations. I am confident that they will also be at the top of most tenants, investors and end-users’ wish list in a short time alongside the better-known quality developers. Belgravia 5 has been named as Belgravia Heights, and the launch will happen in the next week or two. Best estimates are starting prices will be based on AED 950 per sq.ft. but the studios are more likely to work out at AED 1,100 per sq. ft. or thereabouts - Studios will be 410 to 510 sq.ft, One bed will be 780 to 830 sq.ft. , two beds will be 1,000 to 1,150 sq.ft. The developer normally offers a 50/50 payment plan so 10% now, 10% in a few months and then 3 x 10% in construction linked payments with 50% due on completion which can be paid using a locally sourced mortgage if required - Completion is expected to be December 2019. If you want me to contact you when I have more information then please click here

• Those friendly people at Town Square have extended their National Day offer while they still have availability – UNA starts at AED 400,488/- on a 50%/50% payment plan. There is a 10/90 payment plan on selected apartments in their other properties and 20%/80% on Rawda 1 – once these apartments have been sold then they will release more buildings but potentially at a higher price and a less appealing payment plan – I estimate net rental yields of 8% to 10% on handover and this could very well be the number one choice of community for those ex-pats looking for affordable quality homes

• I have heard it said that only about 30% of people living on a golf course play more than once a month - Fancy a house on the Golf Course where the European Tour has their showdown – Race to Dubai? I am impressed with the design, quality and price of these contemporary attached townhouses and villas. They are priced exceptionally well in comparison to similar projects and start from AED 1.9 million. Payment Plan: 10% now, 40% during the construction and 50% upon completion (which can be financed through a bank at the time of completion).

• Dubai Properties bring you an ‘End of Year’ sales offer of 100% DLD fee waiver (4%) to purchasers on all available units valid from 13th - 27th December 2017 – Villas in Dubailand from AED 1.2m – apartments in Mudon from AED 817k – Remraam from AED 574k - Studios in Dubai Wharf (Completed and ready to move into) from AED 938k - Belleview in Downtown starting at AED 968k and fnally their flagship development located directly on Jumeirah Beach alongside The Ritz and Royal Meridien Beach Resorts where two beds with full sea views start at AED 5.5m

This week’s featured listings are here.

A brand new studio located close to the Expo 2020 Metro extension and almost ready to move in – the cheapest one on the market

The owner of this two bedroom is keen to sell; its already rented out for AED 115,000 per year – make him an offer that he can't refuse.

A large and bright two bedroom corner apartment in the best building in JVC at under AED 1,000 per sq. ft. 

Need to rent a small office in Business Bay?

Some of our other properties for sale.
 

I have a fairly busy schedule from now until the first week in January so I won't be travelling for the holidays. Many of my overseas clients will be in town seeking some winter sun and hopefully making some investment decisions before the year ends. 

Please let me know if you are also planning to be in Dubai sometime soon so that we can arrange to meet.