Better Homes News
The Phenomenon of Discovery Gardens
One of the largest single developments to come online in 2008 was Discovery Gardens, a collection of manicured residential clusters located near Ibn Battuta Mall. Because of the large supply of these units, some of the owners have made substantial price discounts. Better Homes, with its exclusive partners in this community, is now offering excellent leasing deals.
Discovery Gardens has been praised for its community feel and beautiful landscaping, secluded from much of the loud construction areas in Dubai. Being only a couple minutes from Sheikh Zayed Road, it has become quite popular amongst its residents. Now, with the latest price reductions from some of the larger-scale landlords, interest is soaring for the development. Here is a breakdown of current Discovery Gardens prices through Better Homes:
Studio – AED 40,000
1 Bed – AED 60,000
2 Bed – AED 90,000
Perhaps the most attractive feature right now is that leases are payable in 6 cheques, something unheard of just one year ago.
“Recently on our May 2nd Open House event in Discovery Gardens, there were over 220 interested tenants who came to the event and over 40 leases were signed that day,” explains Liz O’Connor, Head of Residential Sales and Leasing, “we were surprised by the huge turnout and upon asking the visitors why they came down the near-unanimous answer was that the combination of location and price was unmatched anywhere else in Dubai.”
Click here for more details on leasing in Discovery Gardens
State of the Market 2009
Better Homes has partnered with the research expertise of Investment Boutique, working for several months to develop a comprehensive examination and forecast of the Dubai real estate market. This report – State of the Market 2009 – will be released on April 29th.
This is the first time Better Homes has engaged this sort of exhaustive market study and with it aims to provide valuable clarity to market observers during these turbulent times. Expect to see some good news, expect to see some bad news, but most importantly expect to see some prudent guidance for the coming quarters. The 40+ page State of the Market 2009 will be available as a whole or in four individual sections:
- Residential
- Commercial
- Hospitality
- Retail
Stay tuned to bhomes.com for more information and be sure to mark down April 29th for the release. The report will be available for download from the website on the release date. Better Homes is offering this research at a low price in order to make it affordable for a wide audience. Each section of State of the Market 2009 will be offered at AED 275/- and the full report at AED 950/- (over a 30% discount). The full report will include an extra section analyzing the macro-economic environment in more detail.
For more information, please click here.
Legal Update: Property court issues first ruling
After years of anticipation and speculation, the Dubai Real Estate Court has officially issued its first ruling. This helps bring needed accountability and security to the real estate market, and the initial precedents will be important to follow.
As its first ruling, a property developer has been ordered by the Dubai Real Estate Court to return Dh7.4 million (US$1.38m) on the sale of several apartments to a buyer after failing to register the sale with the Dubai Land Department’s property register.
The court ruled the sale null and void yesterday and ordered the developer to pay nine per cent interest to the buyer on the money from the date of the sale last April. The developer must also pay the full court costs. According to a statement issued by the Dubai Courts Department, the ruling is the first of its kind to cancel a property sale since the court was established last August.
In his summary, the presiding judge, Omar Miran, said the law stipulates that any transfer of ownership or other property transaction not registered in either the land department’s property register or its preliminary property register is null and void. The law gives developers a 60-day grace period to register all property sales concluded before that date. Failure to do so also renders the sale null and void.
The sale in this case was concluded on April 8. The buyer filed his case on Jan 21 this year, asking the court to order the developer to refund the money he had paid for the apartments plus 12 per cent interest.
Market your Property with the Property Information Pack
To help landlords market their property effectively, Better Homes presents The Property Information Pack (PIP). By capturing a property’s unique selling points and marketing it using our extensive marketing avenues, we give each property a point of differentiation and make it stand out from the competition.
What does the Property Information Pack (PIP) offer for property owners?
PIP helps owners:
- Identify and expose the unique selling points of their property
- Provide potential buyers with an information-rich listing
- Market their property effectively
- Expose their property to UAE’s biggest buyer database
- Increase opportunities for sale to the right buyer at the right price
By signing up for PIP, landlords can avail the following services for their property.
- Professional photo shoots
- Google Maps and satellite images of a location and community
- Digital brochures
- Interactive floor plans
- Virtual tours with 360-degree imagery
Property is then marketed through:
· Better Homes Magazine
· Bhomes.com website
· Outdoor signage
· Property gallery office showcases
· Prime spaces in UAE’s most widely read newspaper
All the above services are listed in our Standard and Deluxe packages. Click here to view some properties currently marketed with the Property Information Pack.
Property sellers, speak to your consultant or call us on +971 600 52 2212 for package information.
Strata Global on Mixed-Use Project Management
In Dubai, most developments will require Strata Managers to be experienced enough to cater for the needs of multiple large mixed-use projects. There are always many challenges in mixed-use developments, in particular the differing viewpoints of the owners and the politics which result around the operation of the building.
As local specialists in Strata Management, Strata Global are a key resource for helping the industry achieve affordable, low stress, livable developments in freehold areas. Strata Global helps all stakeholders overcome these hurdles to facilitate a workable community, right from the planning stage.
“The biggest challenge at the moment for us all is the delay of the strata regulations which are yet to be released in Dubai,” says Strata Global’s Managing Director, Kent O’Brien, “the upcoming regulation definitions will give industry stakeholders the framework within which they can operate.” Currently, the Strata Global management team uses their experience to help guide owners into fully understanding what their role and responsibilities are when living in a community. Although developers currently remain in control, we have encouraged an amount of transparency between Developers and the owners, which is often desperately needed in today’s uncertain climate.
“Strata Global exists to help guide owners to the best decisions for their communities,” states O’Brien, “Once the Strata Regulations have been released in Dubai, owners will have the opportunity to be more involved in the way their community is run.” Owners will have a chance to participate on a Board and also have a voice at their Annual General Assembly to ensure that decisions of the owners are implemented.
Strata Global provided input for what is expected to be the first registration of a volumetric (mixed use) strata title in Dubai – The Palm Residence. On managing five-star communities like Palm Residence on the Palm Jumeirah, O’Brien comments, “We provide strata administration services in collaboration with a world class building manager - Fairmont Hotels. It is important to strike a balance in the administration together with the experience of onsite management services to create the right formula for a healthy livable community. Currently, we are working closely with IFA Hotels and Resorts on the Golden Mile projects, which are arguably some of the most complex mixed-use developments in the region consisting of residential, retail, commercial and health club components.”
In this Middle East market, it’s important for managers to provide the full range of strata management services. Strata Global currently have a presence in Dubai and Oman, with future expansion into Qatar and India having several projects in the pipeline.
To learn more about Strata Global’s services, please click here.
Limited-time Pricing in Discovery Gardens
Better Homes has gotten hold of a newly release building in Discovery Gardens and is leasing units at incredible prices. Rental rates have reached a very affordable point in Discovery Gardens and will surely be attracting tenants from other areas who are looking to reduce costs.
Better Homes has gotten hold of a newly release building in Discovery Gardens and is leasing units at incredible prices. The new building is the nicest released to-date in Discovery Gardens, both in terms of its surroundings and interior. With the benefit of a very large courtyard, there are tennis and basketball courts as well as a pool right beside. The gardens have had time to establish themselves and are looking fantastic.
Rental rates have reached a very affordable point in Discovery Gardens and will surely be attracting tenants from other areas who are looking to reduce costs. As an added advantage, tenants are able to pay the rent in four cheques.
Benefits:
- The best value available in Dubai
- The best price available in Discovery Gardens (never before seen prices)
- Peaceful family living
- Beautiful courtyard and aesthetic gardens
- Conveniently located next to Ibn Battuta Mall
- Spacious interiors/ floor plans
- Easy payment plan (4 cheques accepted)
Pricing:
- Studios from AED40,000
- 1 bedrooms from AED60,000
- 2 bedrooms from AED90,000
Don’t miss out on this leasing opportunity, call +971 600 52 2212 to reserve your apartment.
