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5-bedroom penthouse at AED23m

29.09.2014
5-bedroom penthouse at AED23m
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.

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