Al Safeer Tower 2 - Business Bay  

Residential building being developed by Al Seeb right off the entrance of Business Bay from Al Khail Road. Al Safeer Tower 2 is one of the few residential buildings in Business Bay where buyers can purchase apartments off-plan and on a payment-plan. The developer is offering an exceptional payment-plan where 40% of the payment is due between purchase data and handover. 60% of the property price is payable over 3 years after handover. Delivery expected in Q4 2016 or Q1 2017.

Master Community: Business Bay
Property Types Available: Apartments
Location: Al Khail Road
Status: Under Construction
Year Launched: 2013
Estimated Completion Date: March 2017
Developer: Al Seeb Real Estate
Title Type: Freehold
Quality Classification: High-end
Height Classification: Mid-rise
Life Cycle: Under Contruction
Under-Construction Apartments: 182
Floors: 16

Lookup.ae reports prices and transactional information for Business Bay

Safeer Tower 2 Business Bay - limited units available for sale

Studio, 1 & 2 bedroom apartments. Pay 60% post-completion. Completion in 2016.

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About Al Safeer Tower 2

General Guide

- Al Safeer Tower 2 is an under-construction residential building located in Business Bay.

- Safeer 2 is located next to the Canada Business Center (an office building also under-construction). The project is located right off the entrance of Business Bay from Al Khail Road. In 2015, the developer began selling apartments on an exceptional payment plan.

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 460 - 490 sq. ft. and are selling for between AED 813,000 - 890,000 (AED 1,695 - 1,830 psf)

1 Bedroom units have sizes ranging from 815 - 1,026 sq. ft. and are selling for between AED 1.28 - 1.55 million (AED 1,400 - 1,520 psf)

2 Bedroom units have sizes ranging from 1,464 - 1,607 sq. ft. and are selling for between AED 1.9 - 2.1 million (AED 1,315 psf)

Buyers would have to pay a 10% down-payment and the remaining 30% till completion. Following completion, the owner would pay the remaining 60% over 3 years on either monthly or quarterly installments.

Legal & Finance

Escrow Account Details

Account Title: SAFFER TOWER 2

Bank Name: NOOR BANK

Swift Code: NISLAEAD

Account Number: 001-10553200018

IBAN: AE050520000110553200018

Developer Details

Developer Name: Al Seeb Real Estate Development

Developer Number: 1014

1545

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