Dubai - Dubai Sports City

Red Residence represents the opportunity to own a luxury residential apartment in the exciting Dubai Sports City within Dubai's first fully serviced hotel apartment tower, enjoying all the facilities and comforts of a luxury hotel. What's more, with our innovative buy-to-let scheme, your own fully serviced apartment, managed by a renowned international hotel operator, will be financially rewarding while you are away.

Red Residence 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 Sports City, part of a themed area known as Sports and Outdoor World, a $US multi billion sporting development which will be used as the focal point of Dubai's bid to bring the 2020 Olympic Games to the city.

RENTAL RETURNS

One of the key attractions of the Red Residence 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: March 2008

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).

Red Residence will be located within the 50 million square feet Sports City, itself part of the 354 million square feet Sports and Outdoor World development which will contain five large scale projects (Sports City, Extreme Sports World, Racing World, Polo World and Golf World). Sports and Outdoor World itself will be just one of 6 theme parks, and 200 individual projects, and the totality will be the master development known as Dubailand.

Part of the prestigious Dubailand project, the 50 million sq ft Dubai Sports City will feature world-class sporting facilities, stadiums and arenas, making it one of the most inspiring developments to date.

It offers a unique combination of sports, lifestyle, leisure, entertainment, recreation, commerce and enterprise.

Sports City will feature the following:

• 18-hole championship golf course (Ernie Els with Nicklaus design)
• World-class sports training academies
• Soccer Academy (Manchester United)
• Cricket Academy
• Tennis Academy (David Lloyd)
• Golf Academy
• Indoor multipurpose stadium
• Outdoor multipurpose stadium
• Cricket stadium
• Comprehensive sports facilities
• Luxury villas
• Apartment buildings
• Canal townhouses
• Waterfront housing
• Clubhouses
• Resort-style swimming pools
• Spa and health clubs
• Gymnasiums and game rooms
• Running, jogging and bicycle tracks
• Pedestrian walkways
• Schools, medical clinics, parks, mosques
• Recreational centres
• Waterfront housing
• Multiplex cinemas
• Shopping malls
• Cafes and restaurants
• Hotels

Becoming a Red Resident is about enjoying all the comforts and facilities that you would expect from a luxury hotel in your own deluxe apartment.

All the hallmarks of luxury hotel life are here at Red Residence:

• A generous, relaxing lounge area
• 24 hour concierge, porter and valet services
• In house restaurants
• Room service
• Convenient and secure storage and parking
• Pool
• Spa
• Gymnasium
• 24 hour staffing
• CCTV monitoring and security
• Swipe card access technology throughout

From quality contemporary furnishings to stylish ergonomic fixtures and fittings, all of Red Residence's studios, one and two bedroom apartments have an exquisite look and feel, designed to surround the guest with sublime comfort and remind them that they are somewhere very special. The apartments, which have been carefully scheduled into five distinct types (Studio, Gallery, Fairway, Arena and Academy) feature:

• Solid timber entrance door with hard wood veneer
• Contemporary kitchen with hard wood laminate or porcelain tile flooring, granite work surfaces, stainless steel oven and integrated appliances
• Luxury bathroom with white porcelain tiles to walls and floors, contemporary satin finish tap ware, thermostatic showers, integrated cabinet with mirrored doors and feature oak veneer shelf
• Built in wardrobes to principal bedrooms
• Brushed stainless steel door furniture, light switches and power sockets throughout
• Low voltage ceiling down lighters with mood control to principal reception area
• Basement parking with storage

Property Type	AUD	USD	EUR	GBP	AED
1 BED STARTING FROM	287,774	218,011	172,229	115,546	800,100
2 BED STARTING FROM	425,619	322,439	254,727	170,893	1,183,350

Installment	Percentage	Expected Date
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 date

50% NON STATUS finance available from the developer!!!

Flexible payment terms

PLEASE CONTACT US FOR PAYMENT TERMS

For Further information, please complete this form and we will get back to you.