International City - England

[barkati]

I want to ask you something that it already transfered on my name in VAKSON. I just waiting for transfering in Land Department. I paid full ammount to seller and get Power of Attorny which is attested with Dubai Court with Appartment Keys and all original documents and all original receipts. Just tell me this Power of Attorny is valid and workable for transfer in Land Department ?

Regards,

Majid Yousuf
+92 321 8745956

[Werhop]

Guys, i am new to the forum, just registered. I am a member of a real estate investment company that has a few members, we are based in South Africa and i am researching the Dubai real estate market for options of investments. I would like it if you guys could help us out a bit!

I see some adverts for properties (Commercial - office/retail) in the England section of International City, can someone please give me an indication of the possible rental yields and financing options available in Dubai for these properties...

Your help is much appriciated!

Best Regards
Werhop

[georgihh]

Originally Posted by Werhop

Guys, i am new to the forum, just registered. I am a member of a real estate investment company that has a few members, we are based in South Africa and i am researching the Dubai real estate market for options of investments. I would like it if you guys could help us out a bit!

I see some adverts for properties (Commercial - office/retail) in the England section of International City, can someone please give me an indication of the possible rental yields and financing options available in Dubai for these properties...

Your help is much appriciated!

Best Regards
Werhop

Rental yields – 10% net (no guaranties for how long as property law might change any time)
Financing options – strictly cash (source of origin not required)

[georgihh]

Originally Posted by barkati

I want to ask you something that it already transfered on my name in VAKSON. I just waiting for transfering in Land Department. I paid full ammount to seller and get Power of Attorny which is attested with Dubai Court with Appartment Keys and all original documents and all original receipts. Just tell me this Power of Attorny is valid and workable for transfer in Land Department ?

Regards,

Majid Yousuf
+92 321 8745956

You have to wait nothing you can do.
How long - Nobody knows.
Why – expect surprises extra charges mainly

[Werhop]

Originally Posted by georgihh

Rental yields – 10% net (no guaranties for how long as property law might change any time)
Financing options – strictly cash (source of origin not required)

Just to get a clear picture, if i want to arrange financing, is it possible to arrange this in Dubai, as we would like to organise financing in another country to where we are located as Dubai interest rates is significantly lower than our country, South Africa?

[Werhop]

Originally Posted by georgihh

Rental yields – 10% net (no guaranties for how long as property law might change any time)
Financing options – strictly cash (source of origin not required)

is the 10% yield for commercial, then what is the residential yields? in our country the residential is significantly lower than the commercial yields?

[georgihh]

Originally Posted by Werhop

is the 10% yield for commercial, then what is the residential yields? in our country the residential is significantly lower than the commercial yields?

10% for residential, commercial is dead sounds strange but they build 3000 shops in IC and 90 % are still empty as nobody wants them – disaster.
To get a good interest rate in Dubai is almost impossible. Should be lower but is not available – tough
On top of that the property law is not clear if exist and the developer are making enormous amount of money on the back of the innocent people.
Just remember what is advertised or what you see is not the reality
I know the properly boom in South Africa is finished but Dubai is about to follow

[Werhop]

Originally Posted by georgihh

10% for residential, commercial is dead sounds strange but they build 3000 shops in IC and 90 % are still empty as nobody wants them – disaster.
To get a good interest rate in Dubai is almost impossible. Should be lower but is not available – tough
On top of that the property law is not clear if exist and the developer are making enormous amount of money on the back of the innocent people.
Just remember what is advertised or what you see is not the reality
I know the properly boom in South Africa is finished but Dubai is about to follow

Georgiehh, thanks for the honest reply, i am looking around for options, thought Dubai would be good, saw some listings at IC, but am getting nervous about it, maybe too much developments going up all over the place. Its strange as the websites indicate that there is a shortage of commercial space, but like you say, reality can be different... i appriciate it!

Where do you come from, Dubai? Here in South Africa, it seems that we are at the peak of our interest rate cycle, currently prime lendig rate of 15.5% - the residential property market had a correction over the past year or so, commercial is still going quite well, and many investors are starting to look for bargains again, we are also looking... we think it could start to pick up soon.

Dubai World Africa (nvestment arm of Dubai World that focuses on the acquisition, development and management of prime assets on the African continent and the Indian Ocean Islands) also bought the V&A Waterfront in Cape Town, very nice real estate!