May 26 2016
Dubai Properties Group
Serena by Dubai Properties is a major master-planned development located in Dubai Land close Arabian Ranches, Ranches Phase 2, Waha Villas and Dubai Sustainable City
The first phase was launched in February 2016. Over 90% of the first phase is sold out; limited units available for sale
The developer is offering a terrific payment plan: 40% of the purchase price is payable over 3 years during construction phase. 60% payable on completion. Completion is September 2019.
2 Bedroom Townhouses range from AED 1.3 - 1.48 million (built up areas of 1,472 - 1,513 sq. ft.)
3 Bedroom Townhouses have prices of AED 1.55 million (built up areas of 1,820 sq. ft.)
Payment Plan of 10% down, 5% payable every six months (total of 6 payments) and 60% payable on handover (at which time a bank finance can be obtained if required)
The 2 bedroom townhouses are priced at AED 930 per sq. ft. which may be slightly on the higher side however there are only a few communities in Dubai where one can purchase 2 bedroom townhouses - such as Springs, Ranches and JVT & JVC. In these communities, prices for 2 bedroom townhouses ranges from AED 1.8 - 2.7 million depending on type, size and location.
The 3 bedroom townhouses offer good value for money - these are priced at AED 851 per sq. ft.
Serena has locational advantages against competing developments such as NSHAMA Town Square and Mira, Reem - it is closer to main Dubai and is connected to more mature communities such as Ranches and Liwan.
Investors purchasing in Serena today should expect a minimum of capital growth of at least 15 - 20% over the 3 year completion schedule.