May 28 2016
Mazaya Holding Co.
For investors looking in the affordable segment of freehold Dubai, Mazaya Holding is currently offering a select number of units for sale in various under-construction buildings in Queue Point.
The payment-plan being offered is 20% down-payment and 80% on completion.
Bookings done by or before 31st of May 2016 will get full discount on Oqood (i.e. 4% Title registration charges will be waived).
Available units have prices ranging from AED 660,000 - 710,000. Sizes range from 850 - 922 sq. ft.
Prices per sq. ft. range from AED 750 - 785.
Buildings will be handed over in August and December of 2016.
Current rental values for 1 Bedrooms in Queue Point range from AED 50 - 60,000 per annum; i.e. an investor can earn a gross rental yield of about 8%. Maintenance fees in Queue Point are just AED 7.5 per sq. ft. per annum.
To learn more about purchasing in Queue Point or for more information on specific units, please contact: +971-50-7086765
Sep 03 2015
Mazaya Holding Co.
Sale & Rental prices in Queue Point remain consistent over the past 3 quarters.
1 Bedrooms which range from 650 - 900 sq. ft. typically transact for between AED 480,000 - 700,000. The larger one bedrooms (sizes of 1,000 - 1,200 sq. ft.) do not transact easily and typically have asking prices of up-to AED 950,000. Current rentals for 1 bedrooms is AED 50 - 60,000 per annum.
2 Bedrooms which range in size from 1,100 - 1,400 sq. ft. sell for between 830,000 - AED 1,050,000. Rentals for 2 bedrooms ranges from AED 70 - 75,000 per annum.
The 3 bedrooms range in size 1,550 - 1,800 sq. ft. and sell for between AED 1,100,000 - 1,350,000. Rentals are between AED 95,000 - 105,000 per annum.
As a development in the buildings that make up Queue Point are among the more affordable freehold properties in Dubai. Average sale price ranges from AED 750 - 780 per sq. ft. Compare this to Discovery Gardens (AED 850 per sq. ft. on average), International City (AED 700 per sq. ft. on average) and Remraam (AED 860 per sq. ft. on average).
Queue Point has among the lowest maintenance fees of any apartment development in Dubai - AED 7 per sq. ft. per annum.
However, the buildings do not have a GYM or swimming pool. According to an area specialist we spoke to, Mr. Muhammad Hussain of Taktical Realty Group, the developer is planning to have one building within Queue Point where residents can access a shared pool and gym. There is also currently no retail in the area.
In terms of activity, the front buildings (i.e. the buildings closest to the entrance are where most sale transactions take place. Sale activity in the inner buildings is significantly lower.
Dec 04 2014
Mazaya Holding Co.
According to a couple of sales executives we spoke to at Mazaya, there are a total of 20 buildings that are now ready in Queue Point and another 9 are currently under-construction with a scheduled delivery for Dec 2015. There are plans to launch a total of sixty buildings within Queue Point but this is not confirmed. Each building has between 50 - 60 apartments each.
Mazaya are also selling limited off-plan (under-construction) units directly at prices ranging from AED 720 - 740 psf on 1 year payment plans.
Sizes for 1 bedrooms range from 700 - 980 sq. ft.
Sizes for 2 bedrooms range from 1,020 - 1,640 sq. ft.
Sizes for 3 bedrooms range from 1,595 - 1,800 sq. ft.
Buying off-plan gives buyers only a slight advantage in terms of price. Ready units in Queue Point are selling for between 760 - 785 psf. Ready properties are finance-able with at least a 20% down-payment.
Gross rental returns are 7.75% for ready property in Queue Point.
Current maintenance fees are AED 6.45 - 9 psf. Service charges depend on the size of the building. Low-rise buildings have lower maintenance fees.