- Launched in 2008; construction paused following 2009 financial crisis. Construction resumed on site in 2014.
- The project is being developed by Al Seeb Real Estate. The developer began selling properties on an exceptional payment once the construction had reached an advanced stage in 2014.
- Al Safeer Tower 1 is one of the few residential buildings in Business Bay where buyers can purchase apartments off-plan and on a payment-plan.
- In 2014 the developer began offering units for sale on a 40:60 payment-plan i.e. 40% of the property value is payable between purchase and handover and 60% payable over 3 years following completion.
- Initially scheduled for delivery in December 2015 but delivery has been pushed back.
Properties & Payment-Plan
- As of June 2016 most of the project is sold out and only a handful of units are available for sale.
- Buyers had the option to purchase studio, 1 and 2 bedroom apartments on an exceptional payment-plan. 40% of the property value is payable between purchase and handover. 60% of the property value is payable over 3 years following handover (via monthly or quarterly installments).
- In Q2 2015, the following prices are available for limited stock available for sale directly from the developer:
Studio units have sizes ranging from 428 - 585 sq. ft. and prices between AED 737,000 - 1.0 million (AED 1,665 - 1,808 psf)
1 Bedroom units have sizes of 991 sq. ft. and prices AED 1.48 - 1.52 million (AED 1,492 - 1,541 psf)
2 Bedroom units have sizes of 1,561 sq. ft. and prices of AED 2.171 million (AED 1,390 psf).
Units can have either community views or views of the race-course which is right opposite the project site.
Legal & Finance
Escrow Account Details
Account Title: SAFFER TOWER 1
Bank Name: NOOR BANK
Swift Code: NISLAEAD
Account Number: 001-10553180012
Developer Name: Al Seeb Real Estate Development
Developer Number: 1014