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Project aims to raise AED2m rent for charity

23.03.2015
Project aims to raise AED2m rent for charity
The Emaar Foundation worked with Awqaf and Minors Affairs Foundation (Amaf) to build the AED25 million, 42-apartment building in Al Warqa.

Al Noor Special Needs Centre is set to be given AED2 million a year in rent collected from the eight-storey Beit Al Noor Endowment residential building, The National reported.

The Emaar Foundation worked with Awqaf and Minors Affairs Foundation (Amaf) to build the AED25 million, 42-apartment building in Al Warqa. The annual rental income will go towards funding the centre and its training programmes for people with special needs.

The building will feature a rooftop landscaped deck, adult and children’s swimming pools, health club, two levels of basement parking and several retail stores and food and beverage outlets on the ground level.

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RENT
125,000 / year
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Office | Al Hamra
Al Hamra / Me Do Re
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
SALE
730,000
More info
Studio Apt | JLT
Jumeirah Lake Towers / Lake Elucio
Ref.No: AP165
Studio Apt
630 ft2
1,159 AED/ft2
SALE
2,350,000
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1BR Apt |
Ref.No: AP670
1BR Apt
1,308 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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  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
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  • client base of the agency;
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Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

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Lease process (Rent)
Contract of the lessee and agency.

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:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
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

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

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None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
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  • 0% when investing in a new building
  • 4% - registration
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Property management