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Real Estate Investment in Dubai
In the past few years, the real estate investment market in Dubai has grown faster than any other real estate investment market in the world. The lands of Dubai ar... Read more
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offers a comprehensive range of Dubai investment properties in Dubai. Investment properties are now available with 100% freehold status in areas such as Dubai Marina, Dubai l... Read more
Who are the Developers? Universal Group is a diversified conglomerate that has activities ranging from trade, to marketing to property development and asset management. For the Development of Universal Tower, Universal Group has partnered with Project Managers, Kulkarni (QS), and Architects, M3AR after a careful selection process that ensures international quality control standards that will be applied to this development as well as future projects.
When will the building be completed? Construction is anticipated to commence in February 2007, and scheduled to finish in December 2008.
How can I be certain that the project will be undertaken as described? Dubai Sports City requires the Developer to submit bank guarantees as well as commit to Escrow Agreements to protect property investors and to ensure the project is completed to exacting standards in the time period specified.
What are the annual service charges Ė after handover? This will be determined by residents in a not for profit manner at a fee range which is comparable to most developed cities worldwide. This will be audited and accounted for by certified professionals.
Can I sell my property to a third party? Unlike other developers who require substantial installments to have been paid before authorising a transfer, Universal Group places no restrictions on transfer of property to a third party. New contracts will be issued to the third party in accordance with Dubai Sports City regulations.
What is the lease agreement and agreement to lease? These agreements form binding contracts in Dubai between the lessee and the lessor, except as specified in the agreements. They are irrevocable in nature.
Dubai Lands Department and Freehold title? When the Dubai Lands Department formally begins registering freehold title, owners can register subject to registration fees being paid in full.
Does Dubai have a stable economy? The non-oil sector currently contributes approximately 80% of GDP. This sector is diversified across tourism, trade, manufacturing etc. The economy is well-balanced and there is scope for further expansion and diversification. GDP has grown consistently over the past few decades and majority commentators believe that this will continue into the foreseeable future.
What taxes are applicable in Dubai? Taxation is against tradition in the U.A.E. Dubai is a tax free hub, with no income tax, no corporation tax, and no capital gains tax.