Park Lane - Business Bay  

Park Lane consists of office space and a hotel / hotel serviced apartments to be managed by Park Regis (a member of the Stay Well Group).As of Jan 2017, there are a limited number of hotel serviced apartments available for sale on a payment-plan. The developer of the project is offering a guaranteed 10% rental return to investors for the first two years following handover. Building structure is ready and internal works ongoing. Hotel expected to be in operation Q3 or Q4 of 2017.

Master Community: Business Bay
Property Types Available: Offices, Hotels, Hotel Serviced Apartments
Location: Sheikh Zayed Road
Status: Under Construction
Year Launched: 2008
Estimated Completion Date: October 2017
Developer: The Developer Properties
Hotel Operator: Park Regis
Title Type: Freehold
Height Classification: High-rise
Life Cycle: Under Contruction
Floors: 38
Total Under-Construction Hotel Apartments: 234

Lookup.ae reports prices and transactional information for Business Bay

Investment Feasibility & Decision Drivers

Snapshot summary for investing in Park Lane

Investment Score

Value for Money
70%
Project Uniqueness
90%
Location & Connectivity
85%
Rental Yield Expectation
90%
Capital Growth Expectation
50%
More information on investment scores

Total Score

Synopsis

Sale Status: Nearly sold out. Limited units available.

Payment Plan: Very investor friendly

Ideal for: Investors

Price Range: AED 2,100 PSF - AED 2,300 PSF

Unit Types Available: Hotel, Office, Studio Hotel Serviced Apartment, 1 Bedroom Hotel Serviced Apartment

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What Our Experts Think

This is a unique investment opportunty. You can buy a hotel room in the Park Regis Business Bay for prices ranging from AED 800,000 - 1,100,000. You will pay only 60% within 45 days. The remaining 40% is payable over 2 years after the hotel opens.

In addition, the hotel will pay you a 10% guaranteed rental income for the first 2 years of hotel operation.

Park Lane also has a prime location, right opposite JW Marriott and Habtoor City.

Building structure is complete; opening scheduled for Q3 or Q4 of 2017.

- Updated Dec 20th, 2016

Park Lane Business Bay Dubai - Hotel Rooms guaranteeing 10% rental ...

 Published on Sep 24 2016   160 Views

 Source: LOOKUP.AE

 Category: Investment Guide

Park Lane is a mixed-use development in Business Bay, right off Sheikh Zayed Road. The hotel & office building is close to completion.
Investors can purchase hotel rooms within the development which offer a guaranteed 10% rental income.

Park Lane , Business Bay- Hotel Apartments for sale

Studios from AED 700,000. 1 Bedrooms from AED 1.45 million. 40% of the sale price payable after completion.

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About Park Lane

Park Lane consists of office space and a hotel / hotel serviced apartments to be managed by Park Regis (a member of the Stay Well Group). Building structure is ready and internal works ongoing. Hotel expected to be in operation Q2 of 2017.

Overview & Breakdown

Park Lane was originally launched by KM Properties in 2007; however, the project was put on hold following the 2008 financial crisis. The project was revived in 2013 / 2014 through the Dubai Land Department Tanmia Initiative. The building's construction (as of Jan 2016) is in an advanced stage and completion is scheduled for Q1 or Q2 2016.

- Floors 1 - 22 are office space. Executive Office space is available on the 31st and 32nd floor.

- Hotel apartments are from the 23rd - 30th floor

- There are a total of 234 hotel apartments, studios and 1 bedrooms only.

- Park Regis, a member of Staywell Hospitality has been appointed as the hotel operator.

- Each floor in the hotel component consists of 26 units (24 studios and 2 one bedrooms). The studios range in size from 304 - 507 sq. ft. while the 1 bedrooms have built up areas of 763 sq. ft.

FAQs

Are there any financing provisions?

The developer is offering a very flexible payment-plan. Till completion 30% of the purchase price is due. 30% is payable on completion and then 40% is payable over 2 years following handover. However, upon completion, the owner of the unit can approach any bank in Dubai to obtain a finance.

Can I rent my unit out myself?

You have to sign a management agreement. 10% rental return is guaranteed for the first 2 years.

After the first 2 years, all units will be in a rental pool meaning that revenues will be shared based on the size of the units; distribution by management company will be done on a per sq. ft. basis.

Benefits for owners

- 14 nights free stay annually

- 1st year recreational membership free

- No services charges

- No maintenance fees

- 15% discount on F&B outlets (even if you're not staying at the hotel)

Payment Plan

10% on booking

50% on signing of SPA

Remaining 40% payable after hotel is operational (expected Q3 of 2016)

5% after 3 months of completion

5% after 6 months of completion

5% after 9 months of completion

5% after 12 months of completion

5% after 15 months of completion

5% after 18 months of completion

5% after 21 months of completion

5% after 24 months of completion

Positives of Park Lane

Amenities of Park Lane

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