Monday 6 July 2020

Sudhakar Rao

Dubai developer offers 24pc rental returns on investment

DUBAI, April 19, 2018

Gemini Property Developers, a Dubai-based boutique real estate developer, has announced 24 per cent guaranteed rental returns for the first three years to investors in its Dh300-million ($82 million) Gemini Splendor at MBR City, with handover of the apartment in just three months.

The offer spans over three years with eight per cent upfront each year to make it easier and simple for the investor to pay and earn rental yield.

So, on a Dh1 million property, Gemini guarantees Dh80,000 annual rental returns for the first three years, totalling Dh240,000 or 24 per cent.

The new lucrative offering is for Gemini’s maiden eight-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 a lifestyle living and a new business district.

Sudhakar Rao, chairman of Gemini Property Developers, said: “We have a buyer-focused business model, with a win-win approach where buyer is at focus. Our 24 per cent guarantee of rental returns is hard to compete in Dubai’s real estate market which only a mature and sustainable developer can offer. Our sustainable business approach reflects our commitment to the buyers in particular, and to the Dubai’s real estate market in general.”

“The 24 per cent rental return guarantee is based on our market research and the luxury finishes at Gemini Splendor – which is located at the crossroads of Dubai’s main highways and at the heart of the new urban center that is next to Meydan One, Business Bay, Dubai Creek Harbour and Downtown, Dubai.

“We have more to come with new projects in most 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 for buying instead of renting. Splendor’s close proximity to the community facilities, 12 minutes drive from Dubai International Airport and walking distance to two international schools makes the project an attractive choice for investors,” he added.

The Splendor project is conceptualised by is one of the five largest international architectural firms -  Aedas - while detailed designs were carried out by Dubai Consultants. The project offers excellent views of the Dubai skyline via two expressways as well as nearby Ras Al Khor bird sanctuary.

In addition, Gemini Property Developers is offering zero service fee for the period of two years. After two years the stipulated service fee will be charged between Dh12 to Dh14 per sq-ft per year, which is regulated by Dubai Land Department.

Sailesh Jatania, chief executive officer of Gemini Property Developers, said: “In the Splendor project, we are offering the 20-80 payment plan with no hidden charges and hassle-free transactions, which gives immense peace of mind to investors.”

Splendor at MBR City with a built-up area of over 320,000 sq ft houses 134 stylishly designed and elegant units comprising spacious one, two and three-bedroom apartments, penthouses and townhouses equipped with state-of-the-art amenities. Apartment units range from 780 sq ft to 3,400 sq ft. The community also has retail, shopping and entertainment facilities, along with green spaces. – TradeArabia News Service

Tags: MBR City | Gemini | Splendor |

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