When it comes to Dubai the perception revolves around luxury and everything that is high-end, however not many people know that majority of the population of Dubai actually live within the mid-end income level where the affordable housing schemes come in to play.
After catering to the requirements of the luxury and affordable luxury segment, many developers now are also addressing the requirements of affordable housing segment. Currently there are many communities that are built up keeping in mind the basic necessities of families and individuals along with easy bank mortgage options, these have become viable for the residents to own their property rather than renting it out. Some of the recently developed affordable communities with their projects are discussed further
Al Furjan is a residential community being developed at a fast pace as strategically it has great importance in terms of its location, being close to New Dubai (Dubai Marina, Palm, JBR, JLT, Discovery Gardens) and at the same time has easy reach to Expo 2020 site and Dubai South region. A new project being recently launched in Al Furjan is known as Murano Residences, which comprises of 1, 2 and 3 bed room apartments. The developer Grehwati Property Group has a rich profile on the back and with excellent payment plan of 36% to be paid in 3 years after the handover in 2018, the development is one of the most sought after one in Dubai. The prices of Murano residences starts from USD 170,000 and in order to book the unit, buyer will have to pay 10%. More details about Murano Residences can be found on spfrealty.com/murano
Dubai Investment Park
Dubai Investment Park (DIP) is a mix use community with more commercial development than residential. The infrastructure of the community is self-contained for businesses like manufacturing, warehousing, distribution, logistics and IT. Centurion Residences is a unique residential development in DIP that is soon to be completed in 2016 Q2. The development comprises 1, 2 & 3 bed apartments. This development is not only great affordable housing scheme but is a perfect investment opportunity as well with 24% projected rental returns for the first year. The project’s payment plan is very unique with 70% of the payment to be paid in 3 years after hand over and the pricing of the project starts from USD 180,000 with booking from 10% of the purchase price. More details about the Centurion Residences can be found on spfrealty.com/centurion
Jumeirah Village Circle
Jumeirah Village Cricle (JVC) is a residential community which comprises of all the modern facilities of a city in a tranquil and village setting. JVC offers a healthy lifestyle with all the amenities needed to live life to the fullest. The Artistic tower in JVC comprises studio, 1 and 2 beds with prices start from USD 144,000. The project payment plan offers 50% post hand over payment option and booking from only 5%. The project is due to complete in Q4 2017. More details about the development can be found on spfrealty.com/artistic
Dubai free hold property not only offers great tax-free returns on investment, and with less restriction when it comes to re-sales along with strong system of RERA to regulate the transaction the investments are safe and secure. SPF Realty is one of the leading real estate in Dubai which has recently won the top hundred best performing SMEs in Dubai consecutively second time. SPF Realty is renowned for its one-stop solution for all the Real Estate requirements.