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Construction market unaffected by oil prices

22.06.2015
Construction market unaffected by oil prices
The non-oil sector has experienced positive growth during the first quarter of 2015, according to an announcement made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The UAE's construction sector reported production worth $81bn (AED295bn) in 2014, up from $42.2bn (AED155bn) in 2006.

This was according to an announcement made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE; and Ruler of Dubai.

The ruler added ongoing work on "a large number of infrastructure projects, such as the expansion of national airports totalling $27.2bn (AED100bn), and building the Union Rail Network, a project worth $10.9bn (AED40bn), in addition to roads and transport projects, new and improved tourist facilities, electronic infrastructure, real estate, and financial services," are all expected to support growth expectations for 2015.

A key takeaway from Sheikh Mohammed’s announcement was his assurance regarding the UAE’s commitment to its economic diversification strategy, which, broadly speaking, focuses on expanding the country’s growth opportunities beyond the remit of oil operations.

“The non-oil sector has experienced positive growth during the first quarter of 2015,” Sheikh Mohammed stated in the note. “The continuing rise in government spending and investment and the increase in government and private capital, which amounted to $96.1bn (AED353bn) in 2014, also indicate continued strong growth in 2015."

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Lease process (Rent out)
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1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
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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:

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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:
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  • 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
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5% of the annual rental price

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1 hour

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From 3 days

Selection of optimal investment options
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1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
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