Facts and Questions

Please outline your involvement with this project

Vision Forward Management Consultancy is Joint Venture with the Developers. We are the Management Consultants to the entire project, co-coordinating all meetings e.g. Banks, Master Developer, Sales outlets, Due Diligence, plan approvals, architects, administration etc.

Please provide further information on the mortgage offers available to foreign investors on this development, including LTV, interest rates, what information will be required from clients etc

• Mortgages available to foreign investors;
• HSBC, Barclays, AMLAK
• LTV – up to 70%, investors need to pay 30% over initial 6-9 months from launch
• HSBC 7.25% interest and Capital repayment, 7.5% Interest only. 2^nd or 3^rd property allowed
• Barclays 7.5% - 8% buy to let
• Normal requirements, Passport, proof of earnings etc – can supply institution requirements

Please provide further information on the area in which the development will be situated, particularly factors which might make this a good investment opportunity, comparable prices etc

Area of development is at junction of 2 main arterial roads, Emirates road and Al Khail road. Both these roads intersect ‘New Dubai’. Directly opposite International Media Production Zone, Sports City, Universal Studios, close proximity to new airport, we are very competitive in this area. Location brilliant, Accessibility brilliant, – further info will be supplied upon request.

What makes this development stand out from others in the vicinity?

Our USP’s – escrow – fully furnished – rental guarantees – Int’l hotel operators – great facilities - end user finance – hassle free to investor.

Please provide further details on how this project is to be financed

Project finance in place, also initial investment start up finance in place.

Is a minimum level of sales required before construction can commence?

No – construction is guaranteed to start 6 calendar months after official Launch in line with Master Developer (Nakheel) stipulations.

Please provide further details on how the escrow account works

Escrow account manager – HSBC – all funds are paid into escrow, investors funds are protected. Escrow ensures all invoices paid involved in construction, only then can developer take his costs / profits.

Are individual units sold with freehold title?

Yes, investors get Freehold title, residence visa if required, allowing them to open up bank accounts etc.

Please confirm that foreigners can purchase these properties remotely i.e. they will not be required to visit Dubai to sign any paperwork.

They do not need to visit Dubai, but will need to appoint us via POA to complete handover etc.

The POA is a legal document, signed by your Notary in country of domicile, countersigned by the UAE Embassy in C of D, Authenticated by C of D F&C office and again before the Developer will accept, I will have to have all the above Authenticated by the UAE Foreign Office here in Dubai. In laymen’s terms POA secures ALL parties involved.

Your material mentions guarantees of up to 10% ROI - is this a minimum, guaranteed figure? Is this net or gross?

10% would be gross, guaranteed, however only amount to be paid from this would be 2% per annum maintenance fee (building services). Giving approximately 8% net to purchaser.

Approximately what will be the costs of entering the property market in Dubai i.e. purchase taxes, legal fees stamp duty etc?

No indirect costs involved until completion, the first year Maintenance fee required on completion in advance (could be levied against rental income). Should investor want to take advantage of visa, then this is to be paid by investor – approx. US$ 2,000.00 one off fee. Deposit account do not require residency visa, Investor could have their rents paid into UAE bank. Also remember rentals are normally paid 6 months in advance.

What are the other significant costs which may affect an investment in real estate in Dubai i.e. capital gains tax, income tax on rental income etc

No Capital gains, No income tax from rentals, No sales tax, NO TAX!!