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More plot options for buyers

23.11.2014
It's no longer enough to simply offer luxury property developments. The UAE is now attracting investors - both expat and GCC nationals - by offering them plots to build their own property. In order to attract investors, the UAE is now offering both UAE nationals and expatriates to acquire plots and build their own properties, Gulf News reported.
Earlier this week, the developer of Sharjah’s Tilal City master-development confirmed that any non-Arab expat with a valid UAE residency permit, can acquire plots there, making it the first such in Sharjah.
“Each investor will appoint a contractor at their own discretion, so there is no primary contractor,” said Lucy Bush, head of sales and leasing at Cluttons, which is handling the sales and marketing of the Tilal City plots. “At present, land plots in Zones A, B, C and D are available for purchase, while the planned retail development will be located in Zone E,” she said.
Even in Dubai, developers are aiming to bring about a subtle shift by creating more opportunities for investors to acquire plots.
“Over the last 12 months, Dubai has seen a decline in property transaction due to several changes (increase in registration fees and lower loan-to-value mortgage limits) in market dynamics,” said Cecilia Reinaldo, managing director at Fine & Country M.E.
“However, institutional investors and developers have started to heavily invest in acquiring land as the development sentiment is still very strong. There is also a shortage of affordable housing which developers understand and are refocusing their marketing by targeting that. In addition, the prices of plots as they are now still represent great value to investors.”

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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