Freehold flats now available near Creek

26.11.2014
The Hyatt Regency Creek Heights Residences development, a 43-floor residential tower comprising 405 luxury flats, was originally developed by Dubai Properties and intended to be a hotel.
A Dubai developer is set to offer apartments for sale near Dubai Creek as freehold property ownership spreads to new locations, The National reported.
Wasl Asset Management Group, a property manager set up by the Dubai government, said it would start selling freehold apartments in its Creek Heights development next to the Grand Hyatt hotel in the Oud Metha district.
The Hyatt Regency Creek Heights Residences development, a 43-floor residential tower comprising 405 luxury flats, was originally developed by Dubai Properties and intended to be a hotel.
However, it was taken over by Dubai Land Department under its Tanmia scheme, which aims to kick-start stalled property projects hit by the global financial crisis.
“Hyatt Regency Creek Heights marks Wasl Group’s first venture into Dubai’s freehold market and we are confident of its success as an attraction for investors and buyers who wish to move into ready apartments,” said Hesham Al Qassim, Wasl Asset Management Group chief executive.

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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