(MENAFN– Katch ) Dubai, UAE (November 2021): Dubai real estate has always been synonymous with a luxurious lifestyle. With the commencement of Expo 2020, the emirate has become a haven for real estate investments for local as well as foreign investors.
When it comes to investing in affordable luxury properties in Dubai, Prescott Real Estate Development’s track record of success and longevity in the UAE market speaks for itself. From attracting investments in their already built projects to the off-plan properties, Prime Real Estate Developers have built an unmatched goodwill with buyers by placing quality and attention-to-detail at the forefront of every project it develops, while simultaneously prioritising every buyer’s peace of mind through each phase of the negotiation, purchase and handover.
Additionally, several proactive government initiatives, such as the introduction of new visas including, notable investor, retirement visas, golden long-term visas, in addition to the UAE Central Bank’s initiative to reduce the loan-to-value (LTV) for first-time homebuyers to 20%, have contributed to the increase in real estate investments in Dubai. The Dubai Expo has also massively stimulated the economy by providing a surge of tourism back in the country, resulting in AED 13.06 billion worth of transactions in the month of October alone, as per the Dubai Land Department.
Muhammad Shafi, Chief Executive Officer at Prescott Real Estate Development, said, “Our focus has always been to create unparalleled living experiences for our customers. With the Expo 2020 in full swing and the increase in the number of visitors to the region, we are positive about the rise in interest in real estate investments. We are committed to making affordable luxury living possible for everyone. We look forward to welcoming local as well as international buyers as they find a place to call home.’’
The emirate of Dubai is an attractive destination for people wishing to spend their hard-earned money in the real estate market, with a rising economy, stable political infrastructure, and excellent returns on property investment. Off-plan property investing, in particular, is quite popular among purchasers in the region. There are many benefits to investing in an off-plan property in Dubai; Firstly, one of the advantages of buying off-plan property for sale is that these not-yet-built properties are available at much-reduced costs. Secondly, regardless of the “locked-in” purchase price before construction, the value of a property is sure to grow once it is done, resulting in significant capital gains on sale, even while the investment is paid off in phases as per the developer’s payment plan. Thirdly, alongside multiple off-plan property options available in Dubai to choose from, the emirate offers buyer’s protection laws to keep its foreign investors secure. Lastly, with the steady influx of expats in the country, Dubai’s rental business is never low yielding.
Prescott Real Estate Developers upcoming project in the vibrant community of Al Furjan Prime Residency-3 boasts of modern luxurious finishes spread across 292 apartments in a G+2P+7 layout. Prime Residency-3 will be Al Furjan’s first smart home property decked out with the best of amenities including, a pool, games room, gym, multi-purpose lounges, covered parking, landscaped area, interiors with the highest standards, and more. Interested buyers and investors can take advantage of a five year payment plan which is carefully designed to offer ease of payment and peace of mind. The payment breakdown includes 10% down payment, 10% after 3 months, moving to quarterly instalments of 5% for a year, 10% on handover, and 50% post-handover over 3 years.
As a well-known real estate brand, Prescott has been around for over two decades in the industry. They have, during the pandemic, achieved the unimaginable by working tirelessly towards fulfilling their promises and making timely handovers, adding to their proven track record of having previously successfully delivered a host of well-known residential and business developments across the city, including Prime Villas, Prime Views, Prime Residency1 and 2, and Prime Business Centre.
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