Oct 04 2015
Dubai Properties Group
Today Dubai Properties announced the launch of another phase of Arabella townhouses within the Mudon master-community. Previously over 600 units (townhouses and semi-detached units) were sold in Arabella and the previous launches were deemed a huge success in slow market conditions.
All property types and payment-plans are the same for this new phase.
According to sources, only approximately 100 units will be launched; however we have not independently verified this.
Starting prices for the smallest unit type (the 3 bedroom Middle Townhouse) will be AED 1.8 million onwards. In previous launches, the middle townhouse had starting prices ranging from AED 1.55 - 1.67 million.
Properties will be sold on a first come - first serve basis. However, based on previous launches, buyers can expect a large no. of people to start queuing to purchase from Friday morning onwards.
The payment plan is 10% down, 5% payable Dec 2015, 5% payable in June 2016, 5% payable in Dec 2016, 5% payable in June 2017. Remaining 70% is payable on handover.
To learn more about the new Arabella launch or to register your interest in attending the launch event on Oct 10th, 2015; please call +971.55.647.3758
Aug 26 2015
Dubai Properties Group
Arabella, an enclave in Mudon by Dubai Properties was launched in May & June 2015. Over 600 properties were sold out over two launches.
The developer offered 5 types of properties during launch. There were two types of townhouses (3 bed middle and end) and three types of semi-detached homes (3 & 4 bed).
Considering Mudon is competing with Town Square by NSHAMA right across the street, their sales response was overwhelmingly positive. The key selling point was the payment-plan. 10% down, four payments of 5% each every six months and then 70% payable on handover.
A large number of buyers are still interested in purchasing in this project which leads us to believe that Dubai Properties which still has a significant land area yet to be developed within the Mudon district will most likely launch new phases of Arabella or a similar product type.
Buyers who are currently interested in purchasing Arabella from the secondary market will have to reimburse the buyer for the 10% down-payment and 4% Oqood. In addition, there will be costs such as premium, commission and transfer fees. The new buyer will also have to make an accelerated payment to make the property 40% paid in order to do the transfer. When these costs are added up, it is a significant upfront cash outlay and discourages transactions.
These measures taken by the Government of Dubai to discourage flipping does clearly work but it means that it hurts secondary market transactions which directly affects Government revenue as well.
We believe with slower market conditions, the Government of Dubai should consider revising at least some of its policies when it comes to encouraging secondary market sales.