Gemini Property Developers, a Dubai-based boutique real estate developer, has announced a host of incentives for buyers of its Dh300 million Splendor residential project at MBR City Dubai. The generous 24 percent rental returns, which the developer guarantees is a major attraction for investors. To make it easier for buyers to earn a rental yield, the offer spreads over three years with 8 per cent upfront each year with handover of the apartment in just three months.
For example, on a Dh1 million property, Gemini guarantees Dh80,000 annual rental returns for the first three years, totaling Dh240,000 or 24 per cent.
For the customers who are looking for ready property with a home loan facility to move-in, Gemini is offering attractive prices along with 100 per cent waiver of Dubai Land Department fee and service fee waiver for two years. Gemini has tied up with leading banks in UAE for mortgage facilities for its buyers.
The buyers who does not want to utilize a mortgage, can avail Gemini’s post-handover payment plan.
Year-wise Post-Handover Payment Plan
|Down Payment||Year||Percentage %|
|1st Instalment||2019 (after 3 months )||25%( handover of unit )|
“We have a buyer-focused business model, with a win-win approach where buyer is at receiving end. The 24 percent rental return guarantee is based on our market research about Dubai’s real estate market. Our sustainable business approach reflects our commitment to the buyers in particular, and to the Dubai’s real estate market in general,”, said Sunil Gomes, Chief Executive Officer of Gemini Property Developers.
Sunil added: “We will continue to devise and develop new exciting projects sought-after locations of Dubai, that will have attractive and affordable payment schemes. That is our straightforward way of doing real estate business, which encourages people to buy instead of renting. Splendor’s close proximity to the community facilities, 12 minutes’ drive from Dubai International Airport and walking distance to two international school, makes the project an attractive choice for investors.”
The new lucrative offering is for Gemini’s maiden G+8-storey luxury residential located at Sobha Hartland, which has achieved 90 per cent sale in a short span of one year due to its prime location, close to the downtown of the future, Dubai’s new neighbourhood with an outdoor lifestyle living and a new business district. The higher than bank rate makes Splendor a lucrative proposition for investors at a much sought-after location.
The G+8-storey spanning over 320,000 square feet land Splendor project is conceptualized by one of the five largest international architectural firms – Aedas. The project offers excellent views of the Dubai skyline via two Expressways as well as nearby Ras Al Khor bird sanctuary. The offer comes at a time when the Dubai’s developers are in a competition to offer value for money.
Splendor at MBR City is located at Sobha Hartland. The residential building houses 134 stylishly designed and elegant units comprising spacious one, two and three-bedroom apartments, penthouses and townhouses equipped with state-of-the-art home automation system, modernized amenities, with retail, shopping and entertainment facilities and plenty of green spaces. Apartment units range from 780 square feet to 3,400 square feet.Email This Post