Bullet-Point Property: Dubai No. 102
Two years from now, the world's attention will be focused, more than ever, on Dubai as the city plays host to Expo 2020.
Between its opening day on 20 October 2020, and its closing date on 10 April 2021, it is expected that Expo will welcome 25 million visitors.
Dubai Expo will be the first in history to have the largest percentage of international visitors. 70% of all visitors are expected to come from outside the UAE.
Expo 2020 expects to create 277,149 jobs. 40% of these jobs will be in the travel and tourism sector.
So far, 132 countries have announced that they will participate in EXPO 2020
This is what we have been talking about this week :-
This coming Wednesday, we have the much anticipated launch of Belgravia Square, which will definitely follow the real success stories of Belgravia 1,2 and 3 and Eaton Place. I am expecting both investors and end-users to buy at launch and I shall be there to help my clients select the best possible apartments, email me here for further details. This developer has rapidly become the benchmark for quality, design and value in all areas of Dubai where they have projects. Give me an apartment to rent in Belgravia 1 where tenants are prepared to pay between 10% and 20% above the normal market rates for JVC and it will be gone within a week. Buy a one bedroom apartment today in Belgravia 1 for AED 1m (GB£210k) and rent it for between AED 85k to 90k per year (GB £18.5k). Originally, these apartments were sold mainly to investors looking for growth and yield and those who have rented have received net 8% minimum per year and those that have sold have all seen growth which is in contrast to most property in Dubai over the last 12 to 24 months. If you are looking for a high quality property in Dubai for between AED 500k and AED 1.4m or GB£ 105k and GB£ 300k then you must consider this one. See the Project Brief here.
Emaar has unveiled the second phase of the Collective, a co-living community in Dubai Hills Estate, which features homes that are ideal for millennials, young professionals, and entrepreneurs seeking an all-inclusive 'work-live-play' environment. An attractive Payment Plan of 10% down payment, equal monthly instalments of 1.5% for 56 months starting April 2019, final Instalment 6% in December 2023 with estimated construction completion in June 2021. One beds from AED 664k and two beds from under AED 1m – expect net annual rental yields of over 8% see the brochure here
Competition between the big developers is good for the market, investors and end-users, as post-handover payment plans are offered and prices are under pressure to get your attention. Yesterday, DP announced pre-sales of their final phase of Townhouses in Amaranta 4 – Villanova with the 3 beds starting at AED 1.34m and the 4 beds at AED 1.7m on a 7-year payment plan. Pay 8 x 5% instalments during construction, 20% on completion in June 2021 and then 8 x 5% through to May 2025. See the brochure here
Emaar also released a limited number of townhouses in Camelia Phase III at Arabian Ranches last week and sold out and then the remaining 86 houses were released yesterday morning. See the brochure here Camelia’s payment plan of 50% during construction and 50% post Completion over 3 years for 3 bed Townhouses starting from AED 1,453,888 and 4 beds at AED 1,689,888 - A good example of great value for today’s market.
Rawda 2 in Town Square continues to give buyers a great reason to invest. One beds from AED 687k, two beds from AED 861k and three beds from AED 1.38m and the developer is now offering an exceptional 6 year payment plan of 5% now, 5% in December, 10% in June 2019, 5% in December 2019, 10% on completion in June 2020 followed by 65% payable in 8 instalments spread over the next 4 years. The tenant will pay you about half towards the four years post-handover amount. See the brochure here