Sparkle Towers - Dubai Marina  

Sparkle Towers is a prominent residential development in Dubai Marina. The project features two buildings and construction is now reaching a more advanced stage. Completion is scheduled for June 2017. Sparkle Towers consists of studio, 1, 2 and 3 bedroom apartments. There are a total of two four bedroom penthouses.

Master Community: Dubai Marina
Property Types Available: Apartments
Location: Sheikh Zayed Road
Status: Under Construction
Year Launched: 2014
Estimated Completion Date: June 2017
Developer: Tebyan
Title Type: Freehold
Quality Classification: High-end
Height Classification: High-rise
Life Cycle: Under Contruction
Under Construction Buildings: 2
Under-Construction Apartments: 378

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Sparkle Towers, Dubai Marina - Project Introduction

 Published on May 28 2015   194 Views

 Category: Project Introduction

Sparkle Towers is a prominent residential development in Dubai Marina. The project features two buildings and construction is now reaching a more advanced stage. Completion is scheduled for Q1 2017. Sparkle Towers consists of studio, 1, 2 and 3 bedroom apartments. There are a total of two four bedroom penthouses.

Sparkle Tower apartments available for sale on a payment-plan

A great opportunity to buy on a payment-plan in Dubai Marina. The project will be completed in 2017.

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About Sparkle Towers

Sparkle Tower is a complex of two residential buildings being developed by Tebyan Real Estate development in partnership with Swarovski (the Austrian Crystal Company). The project is located next to the Marina Wharf complex in Dubai Marina and is being built on one of the few remaining undeveloped lots in the Marina master-development.

The project consists of 2 towers. Tower One (A) which is a Ground + 29 floors and Tower 2 (B) is a Ground + 14 floors building. Total built up area of the project is 733,560 sq. ft. Sparkle Tower will consist of 2 four bedroom penthouses, 20 three bedroom apartments, 116 two bedroom apartments, 160 one bedroom apartments, 80 studios and ten retail units.

FAQs

Who is the developer and what is their track record?

Tebyan Real Estate are the developers of Sparkle Towers. They have a large property portfolio in the Middle East which includes commercial & hospitality developments. Tebyan have also developed the Grand Belle Vue mixed-use development in TECOM (ready).

What is the payment-plan?

Even though the project is now 85% completed (as of March 2017), the developer is offering a flexible payment-plan. The developer is offering a few options to buyers:

Payment Plan Option 1: Post-Handover

- 10% Down Payment

- 10% After two months

- 10% After four months

- 30% On Completion (June 2017)

- 40% One Year After Completion

Payment Plan Option 2

- 10% Upfront

- 10% Every month for six month

- 30% On Completion (June 2017)

Payment Plan Option 3

- 10% Every month for 3 months

- 70% On Completion (June 2017)

Payment Plan Option 4

- 50% Upfront

- 10% Every 5 months till completion (June 2017)

Are there any bank financing provisions?

The developer is in talks with at least one or two banks to provide financing for clients. However, even with such financing provisions, the financial institution will only finance units which are at least 50% paid.

When is the project handover?

Delivery was originally scheduled for Q1 2017. However, in Dubai, some delays are common and so owners should definitely expect a delay. Currently the completion has been revised to end of June 2017.

Project Completion Status (as per DLD): 85.07% (as of May 16, 2017)

Dubai Land Classification & Escrow Account Details:

Land Number: 109

Project Number: 1551

Real Estate Developer: TEBYAN REAL ESTATE DEVELOPMENT

Trust Account Number: 0011159272002

Account Trustee Name: SHARJAH ISLAMIC BANK

RERA Permit No : 15128

Brokerage Firm: Taktical Realty Group LLC

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