Expats spend millions for Burj address

04.02.2015
In one particular case, BR Shetty, a UAE-based industrialist, paid AED45 million in 2005, to buy the entire 100th floor.

Indians are among top buyers in Burj Khalifa, the world’s tallest residential tower and have invested AED18 billion in Dubai’s real estate market last year.

In one particular case, BR Shetty, a UAE-based industrialist, paid AED45 million in 2005, to buy the entire 100th floor. Singapore-based Indian-origin businessman BK Modi, Danube Chairman Rizwan Sajan and Bollywood star Shilpa Shetty are among publicly known names who own apartments here.

“It’s all about the address, the affluence… and so I decided to buy here though I hardly stay for a few days here,” Modi told Emirates 24|7.

The costliest apartment deal of 2014, valued at AED60 million, was transacted in Burj Khalifa.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

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None

Additional services:

Property management

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Contract of the lessee and agency.

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Real estate search.

Selection of optimal options.

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

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

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:

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Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

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From 3 days

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1 Week

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Expenses of the investor:

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