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Costliest deal in Q3: Burj Khalifa

12.11.2014
Costliest deal in Q3: Burj Khalifa
Downtown Dubai took the lead, seeing five of the top deals taking place in the area, beating the likes of Dubai Marina and Palm Jumeirah. Burj Khalifa is not only the tallest tower in the city, but it also registered the biggest property deal in the third quarter of the year.
An apartment in Burj Khalifa sold for AED28 million, topping the list of 10 costliest apartment deals for the third quarter, data provided by Reidin.com to Emirates24|7 reveals.
The second costliest transaction took place in Le Reve Tower, Dubai Marina, with an apartment selling for AED25m.
A unit in Marina Residences 4, Palm Jumeirah, which sold for AED14.30m, took the third place. The fourth and fifth positions were units in The Residences Podium Downtown Dubai and Anantara Residence (Resort & Spa), Palm Jumeirah, which sold for AED14m and AED12.65m, respectively.
Dubai Marina witnessed three of the biggest deals, while Palm Jumeirah registered two deals, Reidin.com data reveals.
The Waterfront Tower, Dubai Marina, sold for AED12m, took the sixth position, while a unit sold for AED11.50m in The Address Downtown Hotel (Lake Hotel), Downtown Dubai, was placed seventh on the top 10 list.
An apartment in Al Seef Tower, Dubai Marina and two units in The Address Downtown Hotel (Lake Hotel), Downtown Dubai, took the last three positions. They were sold for AED11m, AED11m and AED10.80m, respectively.
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SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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2,350,000
Ref.No: AP670
1BR Apt
1,308 ft2
0 AED/ft2
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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