Seven Tides reveals new Seven City project in Jumeirah Lake Towers

22.05.2018

A new Se7en City JLT development worth more than USD350 million is said to be completed in 36 months. Read more to find what rental income one can get for units in Se7en City, according to the developer's estimate.

One of the most active Dubai developers Seven Tides, which had recently introduced the high-profile Se7en Hotel and Apartments project on the Palm Jumeirah Island, couldn’t wait any more to impress the Dubai public with a new large-scale high-end development providing one of the highest levels of rental income in the emirate.

In Se7en Hotel and Apartments a 10% annual return during the first 5 years after completion is guaranteed for serviced apartments priced at the average of AED1.05 million. And the expected annual rental income for residential units in Se7en City JLT is said to be even higher. But with no guarantee from the developer.

Se7en City JLT will include 2635 residential units, with a total area of ​​this "mini-city" in cluster Z of the JLT district encompassing more than over 3.5 million sqft of land. Apartments ranging in size from studios to 3 beds and luxurious two-leveled penthouses will be offered for off-plan purchase.

A collection of all necessary social infrastructure facilities at hand have become indefeasible and traditional component of this class developments. In Se7en City JLT it will be presented with hotel services, retail, entertainment, F&B outlets, nursery, a gym and a health club.

And, finally, let’s get to the point, meaning price tags. Studios ranging in size from 384sqft to 416sqft in Se7en City JLT will be offered for sale at AED354,000, while one-bedroom residences sized from ​​739sqft to 800sqft will be marketed at a a price starting at AED683,000. Prices for two bedrooms start from AED992,000 for 1,073sqft. And more spacious 3 bedroom apartments ranging in size from 1,516sqft to 1,521sqft can be purchased at about AED1.4 million.

And the main intrigue is what return on investments this kind of properties can generate? To compare, at the Se7en Hotel and Apartments project the developer GUARANTEES 10 per cent yearly rental return during a period of 5 years.

And here, in Se7en City JLT, according to Abdullah bin Sulayem, CEO of Seven Tides, a studio should get you at least 12per cent of annual rental return. However, this figure is given just for your consideration and the corresponding return is not guaranteed by the developer. Instead, the payment plan for an off-plan purchase scheme is rather lucrative and consists of a 5 per cent deposit, followed by a series of quarterly payments of 6% of the unit’s cost of housing during the whole period before completion scheduled for the third quarter of 2021.

For more information on investments in this highly profitable real estate by Seven Tides, please contact IMEX Real Estate specialists:

Tel.: +7 903 232 80 80 Oleg Lavrik (Whatsapp, Viber, Telegram)

Tel. UAE: +971 (50) 2528188

Toll Free in Dubai: 800-IMEX (800-4639)

IMEX REAL ESTATE BROKER LLC, UAE

Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE

Email: pm@IMEXre.com

Skype: resident69

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