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Maritime City, Dubai's newest high-rise destination

10.12.2014
While the Maritime City project has been around for the better part of the last decade, it was in 2012 that the developer decided to go in for a completely new masterplan. Dubai will have a new destination for high-rise projects by the sea with the revised masterplan for Dubai Maritime City (DMC) in the final stages of the approval process, Gulf News reported.
The first of the towers — the 48-storey ‘Anwa’ from Omniyat Properties — goes on sale Wednesday with prices starting from AED1,800  a square foot.
While the Maritime City project has been around for the better part of the last decade, it was in 2012 that the developer decided to go in for a completely new masterplan. The project is now split into three phases, with the first two making headway on getting the basic infrastructure and access roads in place. The timing for the launch of the third phase will be confirmed later, according to a top official.
The masterplan would have scope for more than 50 mixed-use projects, an extensive retail component, hotels and green zones.
“With phases A and B ongoing, [private] developers can get on with their individual projects on site, which is what Omniyat has done,” said Khamis Juma Buamim, Chairman at DMC. “Phase B itself has seen confirmations for 19 tower projects, of which 11 should be ready to get going shortly.
“Each of these projects could cost between AED400 million to AED700 million and gives a scale of what Maritime City can become.

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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