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Investor buys 125 villas near Meydan

24.01.2015
An unnamed investor has bought 125 villas in a luxury development in Meydan City in Dubai, with agents reporting that talks are ongoing to extend the deal even further.
An anonymous investor has bought 125 villas in a luxury development in Meydan City in Dubai, with agents reporting that talks are ongoing to extend the deal even further. Arabian Business reported that the mystery buyer made the bulk order last month for the units in the Millennium Square project in Meydan City, where villas are priced from AED4.5 million ($1.225 million), Manish Bhandari, a senior agent at real estate firm SPF Realty. Bhandari declined to divulge the nationality of the investor as talks are still ongoing to potentially extend the deal beyond the estimated $150 million already put down. A total to 700 units will be built at Millennium Square, with 210 villas released as part of phase one.
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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