Hotel suites to floating villas in Mont Royal, a 5-star hotel being built on the main island of The Heart of Europe in The World, Dubai, are up for sale with off-plan prices ranging from Dh3,000 to Dh3,700 per square feet.
Local real estate agencies have listed units on property portals and selling a 640-square foot unit, termed “princess suite”, for Dh2 million, or Dh3,125 per square feet, while another 581 sqft (corner) suite is listed for Dh2.15m.
These are the first of the homes to go on sale on The World Island after the global financial crisis. Currently, the only island operating as a daytime resort is the Royal Island Beach Club.
As per the listings, the buyer will have to pay the first installment of 20 per cent of the unit price, along with the commission.
The second installment of 20 per cent will be due on October 2014, with the third 20 per cent falling due in March 2015. The final 40 per cent will have to be paid in December 2016, at the time of completion.
The listings add that as a Mont Royal VIP club member, owners will get benefits such as upgraded transportation and special concierge services; dedicated areas accessible to owners only; privileged bookings for all events and services, yachts, seaplane and helicopter, the adverts add.
Earlier this month, Knight Frank's Wealth Report 2014 revealed that Dubai's prime luxury property market was much affordable than key global cities despite prices rising 17 per cent last year.
Local real estate agencies have listed units on property portals and selling a 640-square foot unit, termed “princess suite”, for Dh2 million, or Dh3,125 per square feet, while another 581 sqft (corner) suite is listed for Dh2.15m.
These are the first of the homes to go on sale on The World Island after the global financial crisis. Currently, the only island operating as a daytime resort is the Royal Island Beach Club.
As per the listings, the buyer will have to pay the first installment of 20 per cent of the unit price, along with the commission.
The second installment of 20 per cent will be due on October 2014, with the third 20 per cent falling due in March 2015. The final 40 per cent will have to be paid in December 2016, at the time of completion.
The listings add that as a Mont Royal VIP club member, owners will get benefits such as upgraded transportation and special concierge services; dedicated areas accessible to owners only; privileged bookings for all events and services, yachts, seaplane and helicopter, the adverts add.
Earlier this month, Knight Frank's Wealth Report 2014 revealed that Dubai's prime luxury property market was much affordable than key global cities despite prices rising 17 per cent last year.
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