Dubai - Dubailand
Arabian Crowne City Of Arabia
Overview
The design embraces innovative technology and energy management systems to enhance sustainability. The facade will offer sweeping views of the City of Arabia and Dubailand, the world's biggest leisure and retail centre. The proposed monorail will add to the dynamics of development.
ARABIAN CROWNE offers large, spacious, superbly well appointed, one, two, three bedrooms and duplex penthouses, creating a residential area providing exclusive living and comfort to its owners. At the same time, it also offers well located and connected premium commercial office space. The tower penetrates through a four level podium to create a dynamic public domain at ground level.
Arabian Crowne comprises of a ground floor with 4 level podium, 4 level basement car parking, 30 floors residential block, and 14 floors office block.
Arabian Crowne is the latest 5* Hotel apartment development from successful Dubai based developers who have a highly respected international reputation. The same company has already successfully marketed four other similar developments in Dubai with the best units selling out within days, if not hours.
The hotel will include restaurants, shops, pool, gymnasium, full-service spa, concierge and room service. Guests and owners alike will be provided with top quality services and facilities designed to maximise occupancy rates. The project will be located in the City Of Arabia, part of the huge Dubailand development.
There will be a total of 240 units comprising studio, 1 bed and 2 bed offerings spread out over 45 storeys. All units will be fully furnished to 5* standards and ready for occupation and/or rental. All units come with a complimentary car parking space.
RENTAL RETURNS
One of the key attractions of the Arabian Crowne development is how it is designed to appeal to investors looking for a safe home for their money. The owner will enter into a 20 year leaseback management agreement with the developers (with the option of renewal thereafter). They in turn will fully back an 8% net minimum rental guarantee for the first 3 years of operation. In fact the owner will be paid 60% of all income received (after contingencies and service charges) and this is conservatively estimated (occupancy rate of 81%) to produce a yield of 15.7% pa in year one rising to 21.3% pa in year three after the hotel room rate has been increased. Only in the unlikely event that this figure ever dips below 8% will the guarantee come into effect.
After 3 years the guarantee will be removed but the split will remain 60/40 in favour of the owner. Throughout the period of the leaseback agreement the owner can enjoy free usage of the property for up to 30 days per annum. Should the owner agree to waive this right then rental returns are expected to reach 19% pa in year one and 25% in year three. A 5% sink fund will be established to cater for any necessary repairs. 2.5% of income will be set aside to cover utilities expenditure. Annual maintenance charges will be levied at 12AED (Euro2.75) psqft.
The reason that the returns are so strong is a simple question of supply and demand. Dubai is the fastest growing city in the world and is said to account for anything between 20% and 33% of the building cranes in use throughout the world! There is simply not enough hotel accommodation to provide for the demands of the city and this is forecast to be the case for the next 6-10 years. Hotel occupancy rates at 86% are officially the highest in the world, as are room rates which even surpass those of New York, Paris and Singapore. Indeed, occupancy rates for 5* Hotels are unofficially put at 96%.
To ensure the continued success of their projects, the developers have recently completed a deal with one of Dubai's major tour operators to ensure that a constant supply of visitors and tourists are brought to stay in their completed hotel apartment developments. Projections are for the operator to soon be supplying custom for over 1 million room nights p.a.
In addition to rental returns, it should not be forgotten that capital appreciation is also likely to be extremely strong. Current like for like figures show annual gains of approximately 30%, but it is estimated that in two to three years this will have cooled to 15-20% pa. Wherever they are located, 5* Hotel apartment developments normally always appreciate faster than stand alone residential units because of the prestige and rarity values associated with them.
COMPLETION DATE: December 2007
All registered owners will be entitled to a UAE residence visa (to be issued by relevant Dubai Government Authorities under their standard terms and conditions).
Location
Arabian Crowne is located about 10 minutes drive from Emirates Tower, 10 minutes from Dubai International Airport, 20 minutes from Sharjah and 60 minutes from Abu Dhabi & Al Ain.
Floorplans
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| TYPICAL 1 BEDROOM | TYPICAL 2 BEDROOM | TYPICAL 3 BEDROOM |
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| PENTHOUSE | TYPICAL FLOOR PLAN | OFFICE PLAN |
Project Facilities
Arabian Crowne comprises of a ground floor with 4 level podium, 4 level basement car parking, 30 floors residential block, and 14 floors office block.
Arabian Crowne is the latest 5* Hotel apartment development from successful Dubai based developers who have a highly respected international reputation. The same company has already successfully marketed four other similar developments in Dubai with the best units selling out within days, if not hours.
The hotel will include restaurants, shops, pool, gymnasium, full-service spa, concierge and room service. Guests and owners alike will be provided with top quality services and facilities designed to maximise occupancy rates. The Arabian Crowne will be located in the City Of Arabia, part of the huge Dubailand development.
The Arabian Crowne will offer a total of 240 units comprising studio, 1 bed and 2 bed, spread out over 45 storeys. All units will be fully furnished to 5* standards and ready for occupation and/or rental. All units come with a complimentary car parking space.
Overall Features
- Freehold / 99 years lease residential apartments in Dubailand. Lease automatically renewal every 99 years for same period on payment of US $1 only
- Luxurious finishing for the main entrance and for the main corridors
- Separate entrances for office and residential block
- Separate car parking for office & residential users and guests
- High quality durable finishing
- Large lobby and corridors to give feeling of comfort and openness
- Lake view for each room
- Monorail connectivity
- Connectivity to neighborhood by 'waterway'
- Proximity to 'Mall of Arabia' - world's biggest mall
- High speed elevators
- Central satellite system and intercom system
- Garbage shutes
- Central Air conditioning
- Card Entry System
- CCTV and 24 hours Security System
- Fire Fighting and Fire Alarm System
- Swimming pool, gym, sauna, Jacuzzi, spa, baby play area, party and meeting hall
Apartment Features
- Use of latest Intranet technology
- Fully Equipped kitchen
- Main doors are made of solid wood
- Ceramic floor and wall tiles for the kitchen and bathrooms
- High quality sanitary ware and mixers
Price and Payment Terms
| Installment | Percentage | Expected Date |
|---|---|---|
| Reservation Deposit | 10% | On Reservation |
| 1st Installment | 10% | Within 30 days of reservation |
| 2nd Installment | 10% | Within 90 days of reservation |
| 3rd Installment | 10% | On completion of Podium |
| 4th Installment | 10% | On completion of 10th floor structure |
| 5th Installment | 15% | On completion of 20th floor structure |
| 6th Installment | 15% | On completion of the structure |
| Final Installment | 20% | On Completion |
50% NON STATUS finance available from the developer!!!
Flexible payment terms
PLEASE CONTACT US FOR PRICES AND AVAILABILITY!
PLEASE CONTACT US FOR PAYMENT TERMS
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