Bullet-Point Property: Dubai No. 108
Buy property now that cost over AED 1m, GB£ 214K or US$ 272k, and you may apply for a renewable two-year residency.
Very soon it will be possible to obtain a five or ten-year renewable residence visa based upon the amount you have invested either in property or in a business, or a combination of the two.
We are expecting the details of the application process and the exact requirements to be made public in January 2019, though we are getting some clarity on the offering and what it could mean for the economy and the property market. Read more here
This weeks property discussions have included:-
The new favourite for home buyers and investors who value aesthetics and design along with contemporary community living in one of the most popular locations in all of Dubai.One-bedroom apartments from AED 766k and two beds from AED 1.083m. Pay 50% spread over two years and 50% on completion in Q4 2020. Expect a minimum net rental yield of 8% - see the Belgravia Square Brochure here.
Emaar in recent years has been focusing on developing its mid-range hotel ‘Rove’ brand which as a category is expected to outperform luxury hotels in Dubai given the rising number of tourists from countries like India and China. They are averaging occupancy levels of 84% across the group and now plan to share that success with investors in their new hotel located at City Walk directly opposite the new 20,000 seat Dubai Arena and very close to Downtown. They are offering a 40% revenue share, returns of up to 8% and two weeks free stay for life with an investment starting from AED 770k - email me for more details
This developer is infamous for their oversubscribed property launches, low entry level investments combined with 6-year post-handover payment plans. I am expecting the same for their new launch of The Elz Residences in Arjan with studios starting at AED 385k, one beds at AED 650k and two beds from AED 950k – sales start on the 12th. No further information is known at this time, so please email me here for updates
The Madinat Jumeirah Living Residences are launching their 4th building on the 11th. This is the one that is closest to the covered bridge leading to the Souk and Hotel Resort – for updates; please email me here
The first buildings within MAG5 Boulevard located close to the Expo 2020, and the new Dubai Airport are about to handover with the remainder by Mid 2019. The developer is offering a 4% discount for a limited period on a selection of studios with prices starting from AED 396k, one beds from AED 508k and two beds from AED 750k – see the brochure here
Victory Heights in Dubai Sports City is one of the most popular ex-pat villa communities in Dubai, and they are about to launch a small cluster of Mediterranean style townhouses with some optional interest-free payment plans of 30% due over the two year construction period followed by 70% due over 3, 5 or 7 years via regular instalments post-handover. Four beds plus maids and total area of over 3,000 sq. ft starting at AED 2.5m. see the brochure here
Thank you for reading this far and I hope to see you very soon