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Rent-to-own schemes explained
In Abu Dhabi, Elysian Real Estate is offering a similar scheme in Amaya Towers on Reem Island. Rent-to-own apartments in these two residential towers in Shams Abu Dhabi (scheduled to be delivered by the year end) are also linked to mortgages from Abu Dhabi Finance.
Sorouh says profit plunges to Dh20m
Nomura stated: “Sorouh missed our Dh430 million revenue expectation by a lot. We had forecast the revenue risk to the downside in the eventuality that Sorouh could not maintain its quarterly run of ‘smoothing transactions [land sales, joint venture sales/exits etc]. In the previous quarter, revenues were boosted by a Dh216 million land plot sale in Shams Abu Dhabi”.
Ask the property experts
How much will it cost to have a property inspected for snags? Are you a landlord planning to use property management services and considering furnishing the apartment for rental?
Heads or tails?
For the office market, a shortage of Grade A property is already being felt and here the market will be stable in 2010 and improve thereafter. Lower grade office space rents and prices will fall until 2012. The new study notes: “New Grade A office spaces such as the Aldar HQ Building in Al Raha Beach continue to command annual rents in excess of Dh325/ft² as there is a genuine shortage of Grade A office space in the city.”
