|
A new property development in Dubai, the Jumeirah Beach Residence, is selling luxury flats in high-rise towers to nationals and expatriates.
Advance bookings for studios, 1, 2, 3 and 4-bedroom apartments will begin today through the Dubai branches of four banks: the National Bank of Dubai, Dubai Islamic Bank, HSBC and Citibank.
Down payments and bookings can only be made on a first come, first served basis, said Mohammed Al Gergawi, Jumeirah Beach Residence board chairman.
The four banks have also created special registration areas in their branches to help both individuals and companies to choose and book the apartments.
Applications will be accepted from bank customers and others.
"Jumeirah Beach Residence is a lifetime investment opportunity in luxurious, affordable homes on a freehold basis," said Gergawi.
"The project gives both GCC nationals and expatriate residents of Dubai the chance to invest in their future in Dubai as well as the security of a freehold ownership. It gives frequent visitors to Dubai the opportunity to own their home here too," he added.
Prices for properties range bet-ween Dh199,000 for a 640-square feet studio apartment to Dh649,000 for a four-bedroom apartment with a 2550 square feet living area.
Down payments are Dh25,000, Dh35,000, Dh45,000, Dh55,000 and Dh65,000 for studios, 1, 2, 3 and 4-bedroom apartments respectively.
Once down payments are made, the payment schedule will be 25 per cent of the apartment's price, less down payment deposit, on December 1, 2002 along with three more 25 per cent payments on July 1, 2003, January,1, 2004 and on the date of possession of the apartment.
Investors will be able to move into their new luxury homes in 28 months.
Project managers are also offering UAE residents an early booking opportunity by entering into a raffle draw to win a luxury studio apartment at Jumeirah Beach Residence.
Bookings and down payments have to be made before August 27 to be eligible for the raffle, which is only open to UAE residents. Winners will be announced on September 25.
Jumeirah Beach Residence also has a website, www.jumeirahbeachresidence.com, and a Call Centre, 00971-4-3911114, to help prospective investors with inquiries and additional information. The Call Centre is open from 8 am to 12 midnight.
The project is located in the Jumeirah Mina Seyahi area and will offer property buyers the incentive of living in a dynamic community with shopping malls, restaurants, cineplexes, sports and health clubs, schools, medical facilities, hotels and offices.
The high-rise apartment towers will have underground parking and will be connected to each other via a one-kilometre underground shopping district, swimming pools, leisure and entertainment facilities.
"We are confident the project will attract massive interest from local buyers, expatriates and those who love Dubai. For the corporate sector, it represents an ideal opportunity to invest in affordable luxury properties for their executives," said Gergawi.
"This is a unique project that will offer resort-style living with the most comprehensive range of leisure and retail facilities overlooking the shores of the Gulf," he added.
"While we expect a big response from individuals and companies in the UAE, our initial research foresees a significant percentage of inquiries and bookings from the Gulf and beyond."
|
