5-bedroom penthouse at AED23m

29.09.2014
A 5-bedroom penthouse sold for AED23 million in The Address Residence Sky View in Downtown Dubai. Emaar Properties has sold 72 units in The Address Residence Sky View in Downtown Dubai, with a 5-bedroom penthouse selling for AED23 million, according to a media report.
The average selling price for the luxury residences were in the range of AED4,000 per square feet, according to the Arabic daily 'Al Khaleej'.
In March 2013, Emirates 24|7 reported Emaar had sold units (not the uppermost floors) in The Address Residence Sky View project at an average price of AED2,600 per square feet.
The Address Residence Sky View, a 50-storey hotel, residence and serviced apartment twin-tower complex, in Downtown Dubai is slated for completion in August 2016.
At a height of over 230 metres, the Sky View tower will have 532 serviced apartments fully-furnished with floor-to-ceiling windows and will be linked directly to the Dubai Metro and The Dubai Mall via a new air-conditioned travelator.
Spanning the tower complex will be a 'Sky Bridge', which includes a signature restaurant, ballroom, infinity pool with amenity deck that will offer 360-degree vistas of Downtown Dubai.

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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

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

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:

Property management

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

Expenses of the owner:

5% of the annual rental price

Additional services:

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Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

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:

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