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Readying for change

05.10.2014
Readying for change
With the World Expo approaching, the emirate is readying itself for new visitors and investors with projects valued at over AED30 billion on anvil. Preparations for the World Expo 2020, which will be held in Dubai, are progressing well, according to Helal Al Merri, CEO of the Dubai World Trade Centre (DWTC).
A wide range of projects are in development for the big event, whether it be in the retail sphere or roads & transport. Work on many of these developments has already begun, giving investors new options when it comes to Dubai property. In fact, Dubai's success in recovering from the crash has been touted by prominent individuals across the globe. "The way Dubai has been able to rebound is just incredible and it's a great example for the world," said Donald Trump Jr., executive vice president, The Trump Organisation.
When it comes to improving general infrastructure, Mattar Al Tayer, chairman of the Board and Executive Director of RTA, announced recently that around 35 projects worth AED30 billion will be completed in the next few years including a 15km extension of Dubai Metro Red Line to the Expo 2020 site.
Meanwhile, developers have launched over 40 projects, including 17 focused on villas and townhouses. Separately, Dubai Land Department said it has registered a total of 6,636 properties across the emirate in the first six months of the year.
However, there is still much more that needs to be done in preparation for the event. In the coming months, we expect more announcements to come through about other exciting projects in Dubai, all catering to the rush of investors that will come in as a result of the Expo.  
Projects valued at AED30 billion will be built in Dubai to boost the emirate's infrastructure as it gears up to host the Expo 2020. Developers across the city are already readying themselves for increased visitors, need for commercial space and retail venues. In this time of flux, the emirate's residential property market is also undergoing changes with new developments coming up every day. It's an exciting time to get involved in real estate to see the new heights the market is bound to reach in the coming years.
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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Lease process (Rent out)
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:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
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

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

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:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management