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Other Considerations
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If you are looking at a hassle-free real estate investment, in a fantastic location in Dubai, that will appreciate significantly (min 10% year on year) and provide you with a high annual yield (approx. 8% to 15% of your investment), then this is a good investment opportunity.
The last two units (all 3 bedroom apartments) are available for sale, and these are likely to sell fast.
The Executive Towers is a 29 storey building located in Business Bay, which is being developed as the Business District of Dubai and the Middle East (similar to Manhattan). The Executive Towers is located off Sheikh Zayed Road, on the proposed metro rail route, only 5 mins away from Burj Dubai which is being developed and will be the tallest building in the world, and 10 mins away from Dubai International Financial Centre (DIFC), which will be the region's financial hub.
Due to its excellent location, and many business vistors that will frequently visit Business Bay and DIFC, the occupancy rate of these residence apartments is expected to be very high.
Owners will be paid 60% of annual net income (gross income less 5% contribution towards upkeep of the project, and 2% for utilities)
The current average hotel occupancy rate in Dubai is 81%, and there is expected to be a strong demand for hotels and fully managed & serviced condo hotel apartments in the future, as Dubai's tourism rapidly grow from 6 million tourists in 2006 to an estimated 15 million annually by 2010.
Taking a conservative occupancy rate of 75%, the owner's annual income is estimated to be approx. 8% to 15% of the purchase price.
Payment: 20% on reservation; 20% within 20 days ; 20% every 3 months ; 20% on handover in end 2007 / early 2008
Already 24 storeys of this 29 storey structure has been completed.
This project will be managed by one of USA's leading private resort management operator, Interstate Hotels & Resorts (visit ihrco.com), and they will be using their BridgeStreet brand in Dubai.
The reservations will be managed by one of Dubai's leading inbound tour operators, Alpha Tours (visit alphatoursdubai.com), who last year managed reservations of approx. 600,000 tourists to Dubai.
This Executive Tower E is one of the first 12 residential buildings that are being constructed by Dubai Properties in Business Bay, and will appreciate significantly.
This 3 bedroom fully furnished, amanaged and serviced unit is a good buy, as there are limited 3 bedroom hotel suites in Dubai, and the demand exceeds supply. Many large families from the Guld region prefer to live in such 3 bedroom condo hotel apartments when they visit Dubai. Moreover, airline crew would also be staying in such units which will be leased all year round to the airlines.
The unit will be purchased on a freehold basis and leased back to the developer
Owners can avail of 30 days personal usage of the condo hotel unit (not during peak black-out dates)
As the owner of a unit, you are permitted to sell your apartment at any time, as long as the buyer leases it back to the developer for the international hotel to manage.
The developer will not charge an assignment or transfer fee when your fractional unit is assigned to somebody else before completion.
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