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Flats priced as high as AED55m

03.03.2015
The costliest penthouse listed by the consultancy is 18,478 square feet penthouse in MAG 214 with six bedrooms and eight bathrooms.

Investors seeking premium property in Dubai spent billions of dirhams with a deal for an apartment in the Burj Khalifa topping the sales list in 2014 with an AED60 million deal, Emirates 24/7 reported.

A market analysis done by Luxhabitat, a Dubai-based real estate brokerage firm, found that maximum number of properties above AED5 million were sold in Downtown Dubai last year followed by Dubai Marina and Palm Jumeirah.

The costliest penthouse listed by the consultancy is 18,478 square feet penthouse in MAG 214 with 6 bedrooms and 8 bathrooms. Second on the list is a four-bedroom penthouse in Le Rêve (French for ‘The Dream’) priced at AED72 million. The unit offers full sea and Palm Jumeirah view. At third place is an apartment, covering the whole top floor of Elite Residences. It offers panoramic views of Burj Al Arab, Marina and Palm Jumeirah.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

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

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

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

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

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