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Dubai on its way up

04.11.2014
Dubai on its way up
The emirate ranked 39 in a list of 50 top cities for investment, with investments up on an annual basis to $3.68 billion. Dubai's real estate sector is making wave globally and not just because of its headline-making new projects. The emirate is back on the list of top cities for investment, according to a Cushman & Wakefield report. Ranking 186th in the previous list, the emirate is now number 39 among 50 cities with investments up on an annual basis to $3.68 billion.
Focusing in on investor demand, Dubai has announced news that has come as relief for investors in the emirate's real estate sector, reviving several projects where development had been halted during the financial crisis. The six projects were part of the Best Homes portfolio and will now be managed by Q Developments.
Increased investor attention might be one sign that the market is on its way up, but another clear indicator is the performance by some of the market's leading developers. Emaar Properties has recorded a profit of $678 million, 37% higher than what was recorded in the year before. Mohammad Alabbar, chairman, Emaar Properties, said: "This has been a record nine-month performance for Emaar as we delivered on our promise of strengthening shareholder value. We set an industry milestone by announcing a total dividend of AED17.12 billion this year through our strategic growth initiatives including the distributions approved by the shareholders at the beginning of this year and the dividends proposed for distribution before the end of this year."
While the focus on the end-user is clearly evident, Dubai has always managed to stay in the news as a result of his record-breaking feats with real estate. The emirate has its eyes on another 'tallest tower,' announcing plans to build the world's largest twin towers - the Dubai Twin Towers - which will be located at the Dubai Creek.
Earlier in the year, experts were concerned about Dubai heading towards a property bubble similar to the one in 2008. However, it has become increasingly apparent that the emirate has learnt its lessons, responding to the needs of investors and buyers. While prices may have skyrocketed over the past year, the market has responded quickly towards the needs of the end-users with rents falling in many key residential areas. With new developments in the pipeline, the market is bound to regulate itself, stablising as a result of increased supply.
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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