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European developer launches UAE sales unit

16.08.2014
European developer launches UAE sales unit
The Milan-based Preatoni has recently invested in Dubai Star Tower which is taking shape and is slated to announce other major projects in the short term.
Preatoni, the European property developer which recently opened Preatoni Real Estate in Dubai, has said it has launched a dedicated sales division to handle the UAE realty market.
According to Arabian Business, the Milan-based company, which has built tourism and residential complexes, hotels and leisure centres worth 2.5 billion euros in the MENA region, has adopted a non-exclusivity policy with UAE sales brokers. Preatoni has regional headquarters in Italy, Estonia, Lithuania, Latvia, Russia, Egypt and Dubai.
The company said it aims to expand its portfolio of residential and commercial complexes through this dedicated arm, which will help to generate further demand for Preatoni’s current and future projects.
“We are fully geared to unlock the potential of the UAE real estate market in residential, office, retail and hospitality sectors. Our newly established dedicated sales division will work in coordination with other units to drive sales and generate further demand in our projects,” said Edoardo Preatoni, CEO of Preatoni Real Estate.
“We decided not to appoint any exclusive sales agents for any of our UAE projects with the goal of replicating our success stories in Europe, Baltic and the Middle East. So far, this model is paying off in the UAE market as we work with all brokers and agents to maintain open channels with key players in the market.”
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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