Townhouses sell for under AED1m

05.03.2015
Town Square — located further down the road from Arabian Ranches — will cover 750 acres and feature 3,500 town houses and 18,000 apartments.

One developer in Dubai is attracting attention by offering a “limited” number of three-bedroom units at its newly launched Town Square community at prices just below AED1 million, Gulf News reported.

In all, 300 ‘Zahra’ town houses are being released by Nshama Development and another 700 units will be on offer in the coming week or two.

Town Square — located further down the road from Arabian Ranches — will cover 750 acres and feature 3,500 town houses and 18,000 apartments. The whole project will have a build phase of 10 years, with around 3,000 homes being delivered each year.

The three-bedroom units range from 200 square metres to 208 while the four-beds are 225 square metres. “Zahra has been launched after careful market evaluation — we have identified a strong need from a large segment of the population, who aspire to be homeowners,” said Fred Durie, CEO.

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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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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:

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1 hour

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From 3 days

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1 Week

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Expenses of the investor:

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  • 4% - registration

Additional services:

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