Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Buyers for Town Square development queue up overnight

08.06.2015
Buyers for Town Square development queue up overnight
Potential investors were left disappointed after waiting in line for hours to get first pick at the Town House development since they were told only 10 villas would be sale on that day.

Hundreds of people queued overnight to buy the first villas at Nshama’s Town Square scheme in Dubai. However, many were left disappointed after being told in the morning that only 10 villas would be released for sale that day.

An estimated 500 people waited for more than 13 hours outside the sales office in Downtown Dubai for the 7am launch on Saturday, the National reported.

Prices for three-bedroom units at the new villa community near Arabian Ranches start at just under AED1 million, according to the newspaper, while a two-bedroom apartment was being marketed for AED703,988 and a one-bedroom for AED503,988.

Prospective buyers had been attracted by the relatively low prices of residential units at the scheme, which is expected to complete by 2017. But they told of their frustration at being “misled” once they discovered only 10 villas would be sold on the day of the launch.

One estate agent, Anant Rastogi, who had clients waiting since 5.30am yesterday, was quoted as saying: “First they said it was 60 then 46 and then today 10. There were probably 500 people in line then and it was chaotic.”

He added: “We haven’t been given any information and are finding out from people who are coming out. The only things available now are the apartments ... being in the queue for most people has been a complete waste of time.

A spokesperson for Nshama was quoted as saying: “We received [an] overwhelming response for the Town Square sales [on Saturday]. We will continue to launch townhouses and apartments in the coming period.”

Latest Availability
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
SOGA1  SOGA2
Call management
SOGA1  SOGA2
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