A property agent for apartments in DSC offers an Installment Plan for 3 years
28/02/2013
Dubai Sports City, a mixed-use sports city project worth of $4 billion and located in Dubailand, was launched in 2003. It will consist of a number of third-party residential and commercial buildings as well as several sports facilities including the Multi-purpose Stadium, Cricket Stadium, Hockey Stadium, and Hockey Arena.
However, when the Global Economic Crisis stepped in, the project has been stalled for the past four years that also hardly affected all the property investors. Consequently, most of them have tried to make any legal actions against the developers such as Nakheel, a builder of the palm-shaped islands; and Dubai Properties, a master developer of Dubai Sports City. They have lost thousands and millions of dollars from their property investments. So, in September 2012, hundreds of them have requested the Dubai Land Department ( DLD) to audit those projects which were delayed due to lacking of funds in particular.
Now, as the Real Estate market in Dubai bounces back, some of the property agents which are advertising completed residential apartments in Dubai Sports City are offering those interested property investors or buyers with a minimum of 38 per cent initial deposit and an installment plan for three-consecutive years.
One of them is the Silver Heights, a sales-arm of Orion Holding which is also among the leading property developers in the UAE. So far, it has been marketing most of the units at Olympic Park Tower and offering reasonable prices ranging from AED431, 040 for one-bedroom apartments; AED163, 780 as a down payment; and AED7, 423 per month based on the company’s 3-year Installment Plan. According to them, DSC is definitely a preferable destination for expatriates who are working both in TECOM and Jebel Ali Free Zone areas.
However, when the Global Economic Crisis stepped in, the project has been stalled for the past four years that also hardly affected all the property investors. Consequently, most of them have tried to make any legal actions against the developers such as Nakheel, a builder of the palm-shaped islands; and Dubai Properties, a master developer of Dubai Sports City. They have lost thousands and millions of dollars from their property investments. So, in September 2012, hundreds of them have requested the Dubai Land Department ( DLD) to audit those projects which were delayed due to lacking of funds in particular.
Now, as the Real Estate market in Dubai bounces back, some of the property agents which are advertising completed residential apartments in Dubai Sports City are offering those interested property investors or buyers with a minimum of 38 per cent initial deposit and an installment plan for three-consecutive years.
One of them is the Silver Heights, a sales-arm of Orion Holding which is also among the leading property developers in the UAE. So far, it has been marketing most of the units at Olympic Park Tower and offering reasonable prices ranging from AED431, 040 for one-bedroom apartments; AED163, 780 as a down payment; and AED7, 423 per month based on the company’s 3-year Installment Plan. According to them, DSC is definitely a preferable destination for expatriates who are working both in TECOM and Jebel Ali Free Zone areas.
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