'Buy now, pay later' offer from Seven Tides
Dubai, August 19, 2014
Seven Tides, a leading Dubai-based developer, has launched a deferred payment plan for a limited number of units in its Anantara Residences Palm Jumeirah project in Dubai.
The nine-month deferred payment plan targets GCC investors with final payment hiatus proposition.
Investors interested in buying units within the luxury Anantara Residences community from Seven Tides will have the opportunity to take advantage of a new nine month .
A limited number of one and two-bedroom apartments have been made available in the North and South Residences following the successful sales performance of an earlier release of South Residences in May 2014, said the company.
The 20/80 payment plan requires a minimum 20 per cent deposit of the total unit price with the balance deferred for nine months from the date of purchase, allowing buyers to take immediate possession of their new home with developer Seven Tides covering all service charges for the period covered, it said.
“Investors will be able to see an immediate return on their investment, especially with the benefit of up to nine months’ deferred payments, on the remaining balance. This targets the smaller independent investor who may have the capital to secure a property, but need more time to fund an outright purchase,” said Abdulla Bin Sulayem, CEO, Seven Tides.
The hotel-managed rental yield is an additional benefit to be considered for investors, given the comparative rental prices with a normal residential unit, it said.
A one-bedroom apartment is Dh2.7 million ($734,876) and a Palm Jumeirah Shoreline apartment of similar size (1,184 sq ft), in the Jash Falqa building is on the market for approximately the same amount. According to property experts Asteco, Shoreline apartments command an annual rental rate of approximately Dh150,000, the statement said.
“Investors will be drawn to the appeal of a hotel room, or indeed a residence with access to five-star resort hotel facilities, which could generate a maximum annual rental income of as much as Dh273,341 if hotel occupancies mirror the 2013 average of 80 per cent. This is just under double the Dh150,000 a comparative apartment realises on an annual basis, this rental yield will then be put towards the balance of the unit price,” he remarked.
Residence home-owners will also have exclusive access to the Anantara Dubai Palm Jumeirah, Resort & Spa. The hotel facilities available include a gym, 107,600-sq ft of temperature controlled lagoon pools, a signature spa plus six dining and entertainment venues.
Anantara Residences is a collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline. - TradeArabia News Service