Business Bay most popular buyer choice

28.04.2015
Business Bay accounted for AED1.84 billion of transactions in the first quarter.

Business Bay was firmly established as the most popular buyers’ choice in Dubai during the first quarter, accounting for AED1.84 billion in the first quarter.

This put it ahead of Dubai Marina, which had AED1.81 billion but from only 524 deals. In terms of deals done through mortgages, Dubai Marina topped during this period, with 226 transactions valued at AED444 million, Gulf News reported.

Meanwhile, there were 123 nationalities in the 8,650 investor led property deals during the first quarter. Gulf-based nationals accounted for Dh9 billion, non-Gulf Arabs contributed Dh3 billion, and foreign nationals at AED12 billion.

Of non-Arab nationals, 1,293 Indians had the highest share with AED3.04 billion in transactions, followed by Pakistanis, from whose ranks 953 investors weighed in with AED1.392 billion.

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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