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'Market booming on safe haven status'

28.08.2014
The UAE is seen as a very stable economy, well governed, well managed, and secure and we have attracted investments from Syria and Iraq because of it, said the CEO of Emirates NBD. Dubai's property market has flourished as a result of the safe haven status the country offers within the region, says the CEO of the emirate's biggest bank, Emirates NBD.
Speaking to Gulf Business, Shayne Nelson stressed that while conflicts across the Middle East should be resolved, they haven’t had a negative impact on countries such as the UAE.
“The UAE is seen as a very stable economy, well governed, well managed, and secure and we have attracted investments from Syria and Iraq because of it,” he said.
“Dubai and Abu Dhabi, as places of flight to safety, have done extremely well out of that conflict with people buying apartments and coming here as tourists rather than places they might otherwise have gone to.
“An unfortunate positive [of the conflict] is that the UAE as a safe haven will continue to attract investments while these conflicts are going on,” he added.
“Our outlook is strong for the rest of the year and very positive for 2015,” he added.

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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