MyDubai.Media: New Apartments and Projects To Be Completed By 2026

اذهب عبر: Easy Branches

Nov 16 2023
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MyDubai.Media: New Apartments

Dubai allows real estate transactions to be carried out remotely, without the need for investors to fly to the UAE. Danah Bay Complex is located on the island where a casino is planned to be built by 2026. This property has significant investment potential, offering a return of 200% over 4 years, with a minimum investment of 44% of the apartment price, which is $770,000.

Investments in real estate at the "pre-launch" or "off-plan" stage are usually more profitable. Once a developer's project is announced, property prices at this stage often increase by an average of 30-50% by the time construction is completed.

The Dubai Hills area claims to be the most environmentally friendly in Dubai. A significant part of its territory is provided for gardens and parks.

Investing in hotel apartments in Dubai is a smart decision due to high tourist demand and profit potential. Dubai is one of the most visited destinations in the world, with tourists spending billions of dollars here. Hotel occupancy in Dubai typically exceeds 90%, and during peak season prices for average rooms can reach $1,000 per day. Therefore, investing in hotel apartments can be very profitable, as developers often sell them at higher prices than regular apartments.

The Danah Bay project. MyDubai.Media

Apartments at the SLS and Ciel hotels are particularly advantageous, offering potential returns of 7% to 12% per annum and a 7% guarantee for 10 years. The minimum investment for these apartments is 44% of the apartment price, which starts at $285,000.

Large global chains such as Hyatt, Accor, and Marriott often enter this format. They do not own their real estate but manage existing buildings. Hotels typically retain 40-50% of revenue to cover costs such as cleaning and intermediary services, including bookings through Booking.

READ: "Real Estate Market in New York: The Situation Is Stabilizing"

To achieve a 35% return in 10 months, consider investing in developments located in the JLT (Jumeirah Lakes Towers) and Dubai Hills areas. However, please note that the minimum required investment is 34% of the total cost of the apartments, which is $7,400,000.

Process

The role of a realtor is not limited to helping the client choose a property. The process of a real estate transaction in Dubai usually includes several stages:

— Selecting an object: The broker should find out about the most interesting offers that the developers plan to announce soon. After this, the client is allowed to inspect several objects: those that will soon be presented on the market and those that have recently been released for sale.

— EOI (Expression of Interest) for $5,500–$11,000 (usually up to 5% of the apartment price) gives the right to choose the desired apartment before the official start of sales.

— Booking confirmation: The buyer transfers 14-24% of the cost of the apartment to the developer’s account.

— Purchase and sale agreement: The agreement specifies the payment schedule, and some companies provide buyers with a period of up to two years for the final repayment of the cost of the apartment after completion of construction.

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