Top floors at Marina 101 to go on sale

11.09.2014
Sheffield Holdings, developers of Marina 101, announced the sale of 60 apartments and luxury penthouses on level 80 to 94 at Cityscape Global. Sheffield Holdings, announced the sale of the top 20 floors of it Marina 101 tower, which comprises of 60 three bedroom apartments and luxury penthouses. The sale is to take place at Cityscape Global, according to The National.
Marina 101 towers, with a height of 426 metres is to become the second tallest tower in Dubai after Burj Khalifa, once it is  completed at the end of the year. The tower will be the tallest one in Dubai Marina and outshine the Princess Tower. The tower’s first 33 levels has 300 room hotels and the next 45 levels  comprise of 420 one and two-bedroom hotel apartments. A large number of the apartments in the tower have already been bought out by investors before the global financial crisis. Sheffield Holdings states that nearly 85% of the tower is complete and the apartment handovers will take place three to four after the finish date, once cleared from Dubai Land Department.
The apartments at Marina 101 are priced around AED 5.8 million, though the price is higher at the top levels. The 15,000 square feet penthouses on the 100 level are priced around AED 30 million.  The apartments are sophisticatedly designed and have a rotunda-style entrance hall, luxurious marble insets and whirring electric curtains that can be operated with a remote control.
Patrick El Khoury, the chief operating officer for Sheffield Holdings stated that the property is one of its kind and therefore the quoted price. He said that the individuals who invest in the property would like to add personal touches to the interiors and incorporate swimming pools and private gardens. He also mentioned that the top floor of the tower has been set aside for a restaurant with a panoramic view of the city.

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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