Seven Tides launches deferred payment plan for limited number of Anantara Residences
Attractive buy now, pay later scheme launched as UAE luxury developer targets GCC investors with final payment hiatus proposition
Investors interested in buying units within the luxury Anantara Residences Palm Jumeirah community from Seven Tides will have the opportunity to take advantage of a new nine month deferred payment plan.
A limited number of one and two-bedroom apartments have been made available in the North and South Residences following the successful sales performance of an earlier release of South Residences in May 2014.
The 20/80 payment plan requires a minimum 20% deposit of the total unit price with the balance deferred for nine months from date of purchase, allowing buyers to take immediate possession of their new home with developer Seven Tides covering all service charges for the period covered.
“Investors will be able to see an immediate return on their investment, especially with the benefit of up to nine months’ deferred payments, on the remaining balance. This targets the smaller independent investor who may have the capital to secure a property, but need more time to fund an outright purchase,” said
Abdulla Bin Sulayem, CEO, Seven Tides.
An investor-led product with a positive outlook in terms of capital appreciation, buyers have several options when looking at maximising the return on their investment including the ability to resell the property once it is fully paid for, or alternatively enter the hotel’s rental programme after the nine month period.
The hotel-managed rental yield is certainly an additional benefit to be considered for investors, given the comparative rental prices with a normal residential unit. A one-bedroom apartment is AED 2.7 million and a Palm Jumeirah Shoreline apartment of similar size (1,184 square feet), in the Jash Falqa building is on the market for approximately the same amount. According to property experts Asteco, Shoreline apartments command an annual rental rate of approximately AED 150,000.
“In comparison, the Middle East Cities Hotel Forecast 2014-15 report from PwC expects a 4.7% increase in the average daily rate for a hotel room in Dubai this year, with a figure of AED 936.10,” added Bin Sulayem.
“Investors will be drawn to the appeal of a hotel room, or indeed a residence with access to five-star resort hotel facilities, which could generate a maximum annual rental income of as much as AED 273,341 if hotel occupancies mirror the 2013 average of 80%. This is just under double the AED 150,000 a comparative apartment realises on an annual basis, this rental yield will then be put towards the balance of the unit price,” he remarked.
Residence home-owners will also have exclusive access to the Anantara Dubai Palm Jumeirah, Resort & Spa. The hotel facilities available include a gym, 107,600-square feet of temperature controlled lagoon pools, a signature spa plus six dining and entertainment venues.
Anantara Residences is a collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.
About Seven Tides
Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.