AED75m for a flat in Marina tower

25.10.2014
A five-bedroom, 14,439 square foot apartment in La Rêve, a 50-storey tower, is up for grabs at a cost of AED75 million.

While on one hand, real estate prices in Dubai seem to be coming down, one flat in La Rêve, a 50-storey tower, is available for AED75 million.
With two living rooms, five bedrooms and a 500 sq ft terrace, it's not even the largest flat in the building. Close to the American University of Dubai and the Emirates Golf Club and the Dubai International Marine Club, homeowners in the vicinity have no shortage of amenities.
Most of the house is made from marble while the bathroom has a jacuzzi and a sauna; the two are joined by a glass wall. Everything is open plan: bedrooms double as offices, and the living rooms merge in long stretches of abstract, Swedish couches and tables. Windows wrap around the edge of the apartment, which is on its own floor, so residents have views out of every room. And, of course, the driver and the maid have their own rooms.
La Rêve was designed by the architects behind the Burj Al Arab, and houses some of the emirate's most expensive apartments.
According to David Lawes, senior residential consultant at Better Homes, "In this building, there’s a certain calibre of people. The very richest like to be among themselves: that’s where these people want to buy. You could buy a penthouse, and everyone around you would be in one bedroom flats and studios. But this is an elite building ... It’s for a high-end buyer. In the parking garage, I walked past a Bentley with an inch of dust on that had been sitting there for two years. Next to it there was a Rolls-Royce. It’s those kind of people who are buying properties in this building."

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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:

None

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:

Property management