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$816m Meydan project to be completed by 2017

19.01.2015
The project will offer freehold villas with prices starting at AED4,348,750 ($1,184,946).
Millennium Square, a first-of-its-kind semi-detached freehold luxury villa project in Meydan Dubai will be ready by 2017, Arabian Business reported.
The project, to be developed by G&Co at an estimated value of AED3 billion ($816 million), will offer freehold villas with prices starting at AED4,348,750 ($1,184,946), a statement said. 
The project will be handed over in the last quarter of 2017, according to the statement which added that off-plan villas will be sold on a 30/70 payment plan that allows the buyer to pay 30% in the first 12 months and 70% at the time of receiving the completed property.
Kalpesh Sampat, director of SPF Realty, which is selling the project, said: "We have received overwhelming response from investors for Millennium Square, a unique project in Meydan Dubai. "We are once again selling the product very well, as the city's real estate market continues to attract investors from around the world." He added: "This marquee community redefines elite living for those looking to live in glamorous, exclusive surroundings and enjoy breathtaking nature."
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RENT
125,000 / year
Ref.No: OF1209
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1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
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1,300 ft2
45 AED/ft2
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6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

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Ad placement

1 day

Ad placement:
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Signing of the lease agreement
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Lease process (Rent)
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1 hour

Contract of the lessee and agency.
Real estate search.

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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

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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:
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  • 4% - registration of the transaction at registration
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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
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1 year

Rendering of management services
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Reporting
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5% of the annual rental price

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Contract of the tenant and agency.
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From 3 days

Selection of optimal investment options
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1 Week

Registration of the contract of purchase / sale
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