New Damac project sells out in one evening

16.08.2014
Nearly 300 luxury apartments in Damac's Downtown Akoya were sold during a suhoor taking place across the Emirates on Monday night.
Dubai developer Damac Properties said on Tuesday that its latest project sold out in one evening, Arabian Business reported.
Nearly 300 luxury apartments in Loretto, which is located in Damac's Downtown Akoya project and overlooks a private park similar to Hyde Park or Central Park, were sold during a suhoor taking place in six venues across the UAE on Monday night.
In a statement, the developer said that over 300 investors from countries such as Saudi Arabia, Qatar, Kuwait, India, Pakistan, Russia and the CIS countries flocked to the sales events.
"Top end luxury living, in the right location, with the right developer, is proving to be as in demand as ever before," said Ziad El Chaar, managing director, Damac Properties.
"The market remains bullish, with savvy investors from all over the world recognizing the intrinsic investment opportunities that are abound."
He added: "Despite the scaremongering to the contrary, the Dubai property market remains at the top of its game and is driving great value to smart buyers."
Akoya by Damac is set around the Trump International Golf Club, Dubai, and includes the luxury-branded villas and mansions by Fendi, Paramount Hotels & Resorts and The Trump Organisation. The project, which will begin handing over units next year will be fully complete in 2018 and include hotels, hotel apartments, a 1.3km outdoor retail strip, private park, schools and hospitals.

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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

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Real estate search.

Selection of optimal options.

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Signing of the lease agreement

Expenses of the lessee:

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Additional services:

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Purchase process

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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

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Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

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Contract of the tenant and agency.

From 3 days

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1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

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Additional services:

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