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Luxury properties at Dukes Dubai on Palm Jumeirah snapped up

07.03.2016
Luxury properties at Dukes Dubai on Palm Jumeirah snapped up
Seven Tides enjoys an exceptional demand for its branded hospitality project on Palm Jumeirah in Dubai.

Despite some pessimistic data given recently in a report by Knight Frank, according to which Dubai’s luxury real estate market has slowed down, some luxury projects in Dubai are still in great demand. It’s all about location, location, location firstly, but the kind of offer and guarantees provided are also important, experts say.

Dubai developer Seven Tides announced yesterday that 90% of serviced apartments in its 2015-released Dukes Dubai complex on Palm Jumeirah man-made island is already sold out. The same happened to its second Palm Jumeirah project Anantara Residences Phase 2. In December 2015, as imexre.com has reported, 73 units in this iconic complex were sold out within days after the sales launch.

Abdulla bin Sulayem, CEO at Seven Tides, explains the success of both sales campaigns, firstly, with the projects’ excellent location on the ‘crescent’ of the artificial archipelago, with Anantara Residences also taking the advantage of the world famous brand, and the Dukes Dubai offering a quintessentially ‘Best of British’ lifestyle experience. Investors value such offers highly, that’s why Seven Tides is not experiencing the lack of demand.

According to data gathered by imexre.com experts, the Dukes Dubai is a collection of 227 exclusive serviced studios and one-bedroom apartments ranging in size from 376 to 872 square feet and with prices starting from AED 1.8 million.

Another project’s advantage is that it comes with a five-year developer-backed guarantee of 10 percent. In this respect, Seven Tides is not the only one to provide customers with extra guarantees, many of Dubai's developers now offer guarantees on rental income and return on investments, which creates an additional impetus for the further development of the property sector in Dubai.

Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
SALE
2,350,000
Ref.No: AP670
1BR Apt
1,308 ft2
1,796 AED/ft2
SALE
625,000
Ref.No: OF93
Office
630 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:

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Ad placement

1 day

Ad placement:
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Expenses of the seller:

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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

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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

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1 day

Reporting
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5% of the annual rental price

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1 hour

Contract of the tenant and agency.
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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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