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Phase 1 of Saadiyat Walk sells out

02.10.2014
Phase 1 of Saadiyat Walk sells out
Comprising five clusters, each approximately 250 metres long, the development will feature nine low-rise residential buildings with a total of 461 units including apartments and town houses. Despite prices starting at AED2,000 per square foot for the newly launched residential units on Saadiyat Walk, phase one of the development that was offered for sale off-plan has been sold, according to its developer, the Tourism Development & Investment Company (TDIC).
A statement released by TDIC on Wednesday said that phase one of Mamsha Al Saadiyat (Arabic for Saadiyat Walk) was sold in a special two-day event that took place on September 27 and 29. Prices for sales of a one-bedroom apartment start at AED2.5 million, and are open for purchase to residents and citizens.
Jeremy Oates, general manager of Asteco Property Management in Abu Dhabi, told Gulf News he projected further demand of the units.
“[Saadiyat] will always be seen as a prime location. Similar developments such as Saadiyat St. Regis reached close to this [AED2,000 per square foot] and we saw a strong demand for this product."
Comprising five clusters, each approximately 250 metres long, the development will feature nine low-rise residential buildings with a total of 461 units including apartments and town houses. Unit sizes will range from one- to four-bedrooms to lofts and penthouses, with a gross floor area from 106 to 454 square metres for the one to four bedroom apartments.
Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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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