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Property for sale in Dubai Sports City, Dubai
0 Bedroom Apartment
Price: GBP
Details
Address: Preconstruction - 5 Star Furnished 1BR Condo Hotel Apartment, Kensington Royale, Dubai Sports City Type: Condo Style: Apartment "Est annual yield 8% to 15% ; upto 30 days usage" Development Level: Under Construction Bedrooms: 1 Bathrooms: 1 Garage: Single "Basement parking" Size: 858 sq. ft. "Net size" Lot Type: Rectangular Has Suite: Yes Year Built: 2009 Taxes: AED0.00
Description
This is your chance to purchase the last few (only 6 left) 5 star fully furnished 1 BR condo hotel apartments at The Kensington Royale, Dubai Sports City, Dubailand.
These are available direct from the developer with zero premium, zero commission & zero transfer fee.
This is a hassle-free way of investing in a holiday home that will appreciate significantly and provide you with a high yield (annual income is expected to range between 8% to 18% of purchase price) in a project which will have a high occupancy rate (and therefore high annual income) due to its fantastic location near the stadia in Dubai Sports City.
The 1BR units will be pooled together and the central reservation system would let out the units on a daily/weekly basis to inbound tour operators.
Owners will receive 60% of the annual income for their unit. Occupancy rate is likely to be above 75%
The developer has partnered with one of Dubai's largest tour operators, Alpha Tours (visit http://www.alphatoursdubai.com/), through whom the units will be let out.
The developer has also partnered with USA's largest independent hotel management company, Interstate Hotels & Resorts (visit http://ihrco.com/) to manage and operate Kensington Royale.
Visit http://www.kensingtonroyale.com to view the pdf brochure and the floor plan
Developed by one of the Middle East’s largest construction companies, whose owner has a net worth of billions of dollars. This is this developers fourth condo hotel apartment project - there is a huge demand from investors to invest in such projects.
Payment schedule: 10% on booking ; 10% within 30 days ; 10% within 3 months ; 10% every 3 to 4 months (based on construction progress) ; 20% on handover in mid 2008
If 50% is paid in booking and 50% on completion, then a 5% discount could be availed.
Upto 50% finance available from the developer (without the need to provide any documents) ; 10 year term @9.95% interest ; 0.65% loan processing fee
Highlights
Earn 60% of the annual rental income of your apartment (paid in arrears),
after deducting 5% as upkeep charges for your unit, and 2% as utlility charges for your unit.
Earn a guaranteed minimum rental income of 8% of purchase price of your apartment for the first 3 years.
The price includes one free basement parking
The developer has partnered with Dubai's leading tour operator,
Alpha Tours to ensure that the occupancy rate of the units will be high (above 75%)
You would purchase the unit on a 99 year renewable basis, and would lease it back to the developer for 20 years (with option to renew), for the international resort company to manage and operate.
You could reserve your condo hotel apartment unit (based on signing a letter of intent to purchase and the developer will charge your credit card with AED 5000.
Payment :10% on booking, 10% in 30 days; 10% within 90 days; 10% completion of podium; 10% completion of 10th floor; 15% completion of 20th floor; 15% completion of structure; 20% handover Dec '0
Use your apartment for upto 30 days a year (off peak)
The project will have restaurants, coffee shops, pool, health club, spas
Maintenance charges: These are estimated as max. of AED 12 per sq. ft per year, and would be deducted from your annual rental income earnings.
As the project, Dubai Sports City and Dubailand develops, there
will be considerable appreciation on the value of your apartment
if you have purchased it now at prelaunch prices.
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