Park Lane Business Bay  

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  • Park Lane, Business Bay - handover approaching. Few units left for sale.

     May 21 2016  Park Lane Business Bay  Hotels  The Developer Properties

    PARK LANE TOWER, Business Bay is now approaching completion. As per RERA Reports, the building is now 95% completed and the contractor for the hotel is set to commence with internal finishing. The hotel is expected to open in Q3 or Q4 of 2016.

    Park Lane is a mixed-use development with office space and a 4 star hotel. The hotel is to be managed by Park Regis which is a part of the Staywell Hospitality Group. There is an existing Park Regis Property in Dubai opposite the Burjuman Mall which is a 5 star hotel.

    As of May 2016, out of a total of 234 hotel rooms - a total of 20 units are available for sale.

    The developer is guaranteeing a 10% rental return for the first 2 years following the hotel opening. This is paid annually and will be exactly 10% of the purchase price.

    The hotel brings in much needed 4 star grade hotel supply to the Business Bay market. Park Lane is in a prime location, walking distance to the JW Marriott and among the front buildings of Business Bay. It is ideally designed for business travelers keen on location.

    Owners of the hotel rooms will get several benefits including 14 days stay, 1 year recreational membership for free, no service charges and 15% discount on F&B in the hotel.

    Only 20 hotel rooms are left for sale. Prices range from AED 700,000 - 1,079,000.

    The payment-plan is 10% down, 50% on SPA signing and the remaining 40% payable over 2 years after hotel opens (5% every 3 months.

  • Park Lane, Business Bay: only a handful of serviced apartments available for sale now

     Jan 31 2016  Park Lane Business Bay  Hotel Serviced Apartments  The Developer Properties

    There are only 11 remaining studio hotel serviced apartments available for sale in Park Lane. This building, which lies close to SZR and the JW Marriott is just a few months away from completion.

    Sizes of the studios range from 305 - 467 sq. ft. Units are priced at between AED 2,150 - 2,300 per sq. ft. Prices from AED 700,000 - 1,004,394.

    The hotel component of Park Lane is going to be managed by Park Regis (a part of the Staywell Hospitality Group). The developer is guaranteeing a 10% rental return for the first 2 years following handover.

    The developer is offering a terrific payment-plan: 20% down, 10% on signing of the SPA, 30% on completion. Remaining 40% is payable over 2 years after handover (5% every 3 months).

    Park Lane is a particularly attractive investment for the following reasons: a) Prime location at the entrance of Business Bay. Walking distance to the JW Marriott. b) Very close to completion c) Better location and better prices than other competing developments by Damac / Deyaar d) Post completion payment-plan

    To learn more about purchasing in Park Lane, or to get a more detailed investment feasibility, please contact +971-50-7086765

  • Park Lane, Business Bay: Hotel apartments for sale from AED 700,000

     Apr 19 2015  Park Lane Business Bay  Hotel Serviced Apartments  The Developer Properties

    Park Lane is a mixed-use development in Business Bay, close to Sheikh Zayed Road and the Executive Towers.

    The project is in an advanced stage of construction; delivery is expected in December 2015.

    8 floors of the development feature 234 hotel apartments which are to be managed by the Park Regis brand (part of the Stay Well Group).

    There are some units available for sale on an excellent payment plan. Buyers will pay 60% between now and completion. The remaining 40% is payable over 24 months after handover.

    Owners of these hotel apartments will earn a healthy return on investment. There are only studios and 1 bedrooms of varying sizes. There are a total of 26 units available on each floor.

    The studios range in size from between 304 - 547 sq. ft. Prices range from AED 700,000 - 1,070,000. However, there are very few of the smaller units available, so interested buyers should be prepared to focus on the units which are about 381 sq. ft. onwards which have starting prices of AED 840,000.

    Each floor has two 1 bedroom units which are 763 sq. ft. in size and cost AED 1.5 million.

    Prices psf for these hotel apartments is about AED 2,000 for the 1 bedrooms, while studios range in, price from AED 2100 - 2200 psf. These are very competitively priced. Competing hotel apartment developments in Business Bay usually have prices ranging from AED 2,200 - 3,000 psf - and those are on usually larger built up areas.

    This development, unlike many competing developments in Business Bay is close to completion. It also has locational advantages over competing projects.


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