Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Developers focus on affordable offerings

28.09.2014
Developers focus on affordable offerings
Many of Dubai developers are targeting the middle class in Dubai - those earning between AED15,000-AED40,000, creating new housing options that would be affordable for ordinary people. While previously, developers may have advertised the private pools and luxury interiors of their projects, developers today are focusing on offering homes for the ordinary people.
During Cityscape last week, Danube advertised 300 off-plan apartments in Studio City - Glitz - which it plans on selling for less than AED1 million a unit.
“We are targeting [the] mid-income segment. People who are on salaries that are between AED25,000 to AED40,000 a month,” said Rizwan Sajan, Danube’s founder and chairman. “When you are talking about a property that costs AED1m you are talking about paying AED10,000 per month. It is not a big amount for a person who is earning that amount.”
Dubai-listed Deyaar is also re-designing stalled plans for one of its sites at the International Media Production Zone with 27 new buildings comprising 2,000 apartments and serviced apartments aimed at mid-income families.
Deyaar said that it is in the process of getting government approval for a first phase of eight buildings where apartments would be selling for less than AED1,000 a square foot.
“Those people who make AED15,000 to AED35,000 a month. Those people are the middle class,” said Saeed Mohammed Al Qatami, the chief executive of Deyaar. “Those are the customers that we are looking at. That’s why we are creating this product.”
And over the border into Sharjah, the developer Al Thuriah said that it was selling one-bedroom flats starting at AED650,000 and two-bedroom flats at AED940,000 at two planned blocks of apartments close to the Sahara Centre in Al Nahda.
Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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