Better Mortgages_July'12

13 Better Mortgages

BETTER MORTGAGES

July 2012

Contents 04. The market now Mortgage consultant Imambee Shaikh sheds some light on how the market is faring – and who’s buying

06. The mortgage brokers Expert advice on all the pros and pitfalls you need to know before signing on the dotted line...

08. The property surveyors Not sure whether to have your property

valued? Expert advice is at hand from surveyors Cavendish Maxwell

10. Why now’s the time to buy Better Homes’ community specialist reveals how the Dubai market is red hot once again

14. Dubai property yields

16. Why we bought Rob and Rebecca Frost share their firsthand experience of buying a villa in Dubai

16. 50 great homes to buy Ready to buy? We’ve got fifty fabulous properties that will have you reaching for your cheque book...

Why high yields are making UAE property an enticing prospect for investors

Produced by: HOT Media Publishing FZ LLC

Sub Editor Hazel Plush

Advertising enquiries chris@hotmediapublishing.com 04 369 0917 050 456 9938

Managing Director Victoria Hazell-Thatcher

Designers Adam Sneade, Vanessa Arnaud

Publishing Director John Thatcher

Production Manager Haneef Abdul

Editorial enquiries editorial@hotmediapublishing.com +971 (0)4 364 2876

Advertisement Director Chris Capstick

Advertising Manager Sukaina Hussein

‘Why we bought’ interview images Helen Riley, helen-riley@hotmail.co.uk

Group Editor Laura Binder

Classifieds Advertising Executive Faaju Fatah

Reproduction in whole or in part without written permission from HOT Media Publishing is strictly prohibited. HOT Media Publishing does not accept liability for omissions or errors in Better Homes magazine.

15,252 Jan-Jun 2011 BPA Consumer Audit

July 2012

4 Better Mortgages

The market now

Imambee Shaikh, Mortgage Consultant at Independent Finance, on how the mortgage market is faring as demand for home finance grows

Many of our clients are now looking to buy a home. Most of them have been living in this country for a long time, renting different categories of properties in different parts of the city, and they’ve now come to realise the sheer wastefulness of renting.

The prospect of buying a home, in this context, makes perfect sense. The amount of money that is spent on rent can go towards a mortgage and its repayment.

Over time, the price of a property could go up and the homeowner could end up building equity – this scenario when pitched against definitely losing a huge amount of money by renting (even if for just one year) is why buying is such a big attraction.

Over the last two years this quantitative shift in thought has occurred, and seems to be gaining momentum.

This trend is not lost on the banks, as we see more attractive mortgage products being offered than ever before. And with this, more and more banks are entering the fray. In fact, not only are the number of mortgage products growing, the quality and features are also getting better as well. For instance, we are now offering products where clients do not need to pay penalties on settling their loans or remortgaging with other lenders.

The loan on certain products has grown to 90% and repayment rates on others have fallen to as low as 3.99%. Some banks are offering short-term financing for fees along with the mortgage. The number of lenders

‘The amount of money that is spent on rent can go towards a mortgage...’ is steadily growing; UNB, UBL, Ajman Bank and Emirates Money are the new lenders to the market, while from the established lenders NBD and NBAD have stated lending again. We could also see specialist lenders offering niche products.

On the back of Q2 2012 and at the commencement of Q3, we maintain a bullish view on the real estate market in Dubai. June saw Ritaaj Development release of over 2,000 new units in market, with a further 42 residential units released at Burj Khalifa. The release of these units definitely signals growing demand and is a major driver for prices in the property market.

Subsequently, banks have maintained interest rates and some lenders have restructured mortgage variables with respect to Loan to Value Ratios (LTV), and Early Repayment Clauses (ERC).

July 2012

Better Mortgages 5

End users are looking at properties where their monthly mortgage repayment is equal to the amount they would likely spend on rent, and this is a healthy sign to look out for in the coming quarter.

It’s good to see the market reacting to actual exchange of contracts for tangible assets, and this has further boosted consumer confidence.

Dubai stands to benefit from the geo political conditions in and around the emirate and, for that matter, the problems in the west as well. The turmoil in the financial markets in developed and emerging markets has helped turn investors and financial institutions towards Dubai for their property portfolio allocations. Recently, the UK reported a rise of just 0.5% on property prices, and with no good news from any of the other western countries, Dubai seems a better bet once again.

Terms and Conditions apply to all rates

FINANCE

For further information on the best mortgage deals call Better Homes on +971 4 407 4600

Loan Ranger

Found your dream property and need to sort out a mortgage? Look no further...

Bank

Interest Rate

Min Deposit

Max Loan Term

Processing Fees

Early Repayment

Contact

Independent Finance

4.49%, Eibor Linked

15%

AED 8 mln

Free

0%

04-3819314

Independent Finance

4.99% 3-Year fixed

20%

25 Years

1%

0% Own funds 0% buy out

04-3819314

United Arab Bank

3.99% 1-Year fixed

20%

25 Years

1%

0%

800474

Abu Dhabi Finance

From 5.75-8.5%

15% - 25%

30 Years

1% if paid upfront, 1.25% if not

2% Own funds 4% buy out

800 ADF(233)

ADCB

From 5.99% 2 year fixed

15%

25 Years

1% (No cap)

From 2%

800 2030

ADIB

5.75% 5 Year fixed

15% - 20%

25 Years

1% of Loan Value

0%

8002288

HSBC

3.99% 1 year fixed

40%

25 Years

1% of Loan Value

0%

800House

Lloyds TSB

4.99% - 5.99%

30% - 40%

25 Years

1.50%

0% After 2 years

04 342 2000

Mashreq

From 4.99%

20% - 30%

25 Years

0% Limited Offer

1% Before 2 years 3% buy out

04 424 4444

NBAD

From 4.99 % Per annum

20%

30 Years

0% Limited Offer

3% Max

8002211

Noor Islamic Bank

From 5.99%

15%

25 Years

“1%, Capped at AED 30,000”

“2% Own funds, 3% buy out ”

800 6667

Rak Bank

5.50%

25%

25 Years

1%

1% Own funds 5% buy out

04 312 0000

Standard Chartered

4.49% 1 year fixed

25%

25 Years

1% of L/A

0%

02 616 5605

Tamweel

5.25%

20%

25 Years

1%

3%

800 Tamweel

For further information on the best mortgage deals call Better Homes on +971 600 52 2212

July 2012

6 Better Mortgages

The mortgage brokers Choosing the right mortgage is no easy feat – Warren Philliskirk, Associate Director of Mortgage International, talks us through the pros and pitfalls...

What is the role of a mortgage broker?

Firstly, to conduct a thorough review of a client’s personal circumstances and fully understand these, along with their purchasing requirements.

He or she will discuss the client’s present and future financial circumstances to ascertain all of the relevant information. Once they have a clear outline, the advisor will review the entire market to find the best options to meet the client’s pre-agreed requests.

These will be presented to them for review to ensure each one has been met.

How can a mortgage broker save me time?

By reviewing every product in the market to ensure you have the best solution for your requirements. The lender will provide internal credit policy information to the mortgage brokerage too, which is not made public, so they will know whether a client will meet the bank’s credit requirements.

Clients trying this directly will follow the published product

Mortgages made easy Warren Philliskirk translates rates into terms we can all understand…

Fixed Rate: A fixed rate for a pre-agreed term, in general from one to five years.

Pro: You know exactly what you’ll have to pay over the agreed term. Plus, as UAE rates are now historically low, it’s a good time to lock in a low rate.

Con: Most lenders will offer you a fixed rate but lock you into more expensive reversion rates thereafter.

The details of what will happen when the initial period ends need to be very clear.

July 2012

information but can end up going round in circles.

Can a mortgage broker save me money?

A mortgage is generally the biggest financial commitment someone can make and getting it wrong can cost massively. It is vitally important to get the most competitive interest rate as only a 0.5% difference can cost you hundreds of thousands over the loan’s full term. We also look at the features of the loan, such as the penalties of moving banks in the future if you wish to – many lenders charge up to 5% for this, but a broker will try to negotiate it down to zero.

What pitfalls can a broker help me avoid?

They will ensure you know every aspect of the product and the lender you are entering into a contract with. A broker does not have any products of their own to sell so they are impartial.

Hidden fees, bank transfer penalties or the way the overall interest calculations are made will be completely transparent.

EIBOR Linked: A rate that will track the UAE based-rate by a fixed margin for the life of the loan.

Pro: Any change in the rate is not governed by your lender so they can’t increase this at will.

Con: The current Eibor rate is historically very low and should it rise to the highest levels of the past, 4.75%, then you could end up paying around 8% overall.

Bank’s Internal Rate: A market-driven rate set internally by the bank.

Pro: If it’s a short-term option with no transfer penalties.

Con: If you have high bank transfer penalties with your lender you are completely exposed to the bank, which not only controls rate increases but any penalties.

+ BUYING? Let us make sure you get the BEST home loan + PAYING TOO MUCH? Call for a FREE mortgage health check! 10 minutes could save you thousands! + NEED CASH? Let us release the equity in your property for any purpose! + FIXED rates starting from 3.74%* + 90% Loan to value available*

8 Better Mortgages

The property surveyors When it comes to the matter of value, you’ll want to hit the nail on the head. Jay Grant, Managing Partner of Cavendish Maxwell, lends his advice – don’t move home without it…

July 2012

Why is it essential to have your property valued?

The primary objective is to ascertain a property’s value, which could then be used for mortgage, immigration or matrimonial purposes as well as for financial statements and insurance/reinstatement purposes.

Buyers may instruct a valuation to avoid overpaying for a property, whereas banks and finance companies usually require a valuation as part of the mortgage process. A property’s value is not necessarily set by the transaction price because some buyers might not be aware of all the relevant information and are therefore prepared to pay over and above the market value.

At what stage during the buying process should I have a survey conducted?

Most properties are bought subject to mortgage finance and lenders would usually instruct us directly as part of their process. In the case of cash buyers, we recommend carrying out a valuation at the earliest opportunity to ensure that the price paid is in line with the market value.

What key features do you look for when valuing a property?

At Cavendish Maxwell, all of our valuation surveyors are affiliated with the Royal Institution of Chartered Surveyors (RICS). As such, they are trained to identify important aspects that affect properties and therefore values.

First, a property’s condition for general wear and tear is noted, as well as any upgrades or modifications. Second, we consider the quality of the location, surrounding roads,

‘Most banks require valuation reports within two days, but we will often respond faster’ services, communal areas and facilities in apartment buildings, nearby facilities and adjoining land use. Third, we consider health issues that can invariably affect value, such as its proximity to electricity lines and pylons, DEWA substations and sewage works.

How much time is needed to complete a valuation?

Most banks require valuation reports within two days, but we will often respond faster. Delays, if any, are due to us not being able to inspect a property because the owners or tenants are on vacation.

How much can I expect to pay?

Valuation companies set their own charges, but the typical cost of a residential valuation carried out by an RICS (pronounced ‘R.I.C.S.’) valuer is AED2,500. Fees for properties such as Emirates Hills’ villas may be slightly higher. Some firms charge less but you get what you pay for. As a qualified member firm of RICS, we are required to adhere to strict guidelines, submit reports for monitoring and hold professional indemnity insurance, which protects all parties.

Can you offer any parting tips?

We would always recommend using an RICS qualified firm because, in our opinion, the risks of not doing so far outweigh any savings on the fee.

10 Better Mortgages

Why buy now?

Tamara Stubbs, Community Specialist, Better Homes Dubai Marina Office, on the reasons why now could be the perfect time to buy a Dubai home

July 2012

The property market is hot at the moment. We are seeing a significant increase in the amount of enquiries as well as the amount of transactions in the first quarter of 2012, when compared to the same quarter in 2011. And it’s clear to see that the confidence is coming back into the real estate market among both buyers and sellers. Now on the upturn, the Dubai real estate market has seen the worst.

This change is having a profound effect on the ease of transactions and their desire to close. Buyers see this resilience very positively compared to other countries where the market has continued to decline, or has stayed low, and they want to purchase before the prices increase too much. Sellers are keen not to miss out again on an increasing market like we witnessed in 2008 and they are pleased we are achieving their desired sales prices compared to the last four years, when we were receiving lower offers than what they would prefer to accept.

Many sellers felt in the past that though they were being beaten down by agents, but this was only due to the condition of the market at that time – the market drives the prices, not the agents. Sellers are now glad to see that period is behind them. Positivity and enthusiasm is slowly increasing, which makes the industry a much more positive environment to be in.

We have seen a substantial growth in terms of rising property prices in villas and higher-end apartments.

Areas such as Emirates Hills, Meadows, Springs and even Palm Jumeirah (for villas) and Dubai Marina and Downtown (for apartments) have shown this trend. Prices have increased in these areas – between 15% and 30% – for both sales and leasing in the last year. This is

Better Mortgages 11

mainly due to high demand and low stock. There was an influx of end-users purchasing villas at the bottom of the property decline and that stock has slowly dried up. This inevitably pushed the market prices to increase as buyers were prepared to pay for what they wanted.

However, this rise increase for villas and high-end apartments seems to have levelled off, and it is difficult to say whether it will continue this way or start to increase again. We should know either way over the next few months. The Dubai property market still isn’t in any way stable, but it is very resilient.

There are still a large amount of investors coming from overseas including China, India, Pakistan, Russia and Saudi Arabia, as well as locally in Dubai and Abu Dhabi. Some investors from Iraq, Iran, Egypt and Syria are also looking to direct their investments into a more stable economy due to the unrest within these countries.

Sellers that sold at the peak are now reinvesting, and buyers who purchased at the bottom are continuing to

‘We have seen a substantial growth in terms of rising property prices in villas and higher-end apartments’ invest. Most investors are looking for 7% return and are still getting it. With the increase in rental prices, Dubai Marina is a very hot area right now, which pleases investors there no end. Apartments aren’t staying empty for long which only maximises the rental return for those long-term investors.

Flipping property was an enormous part of the Dubai property market back in 2004-2007, and we are seeing it again, albeit in small doses, from some brave investors.

These days, though, the likely profit margin makes it risky July 2012

12 Better Mortgages

with investors making around AED10-20,000 on each property transfer – a huge difference from the profit margins we saw in the past, and a time that will unlikely repeat itself, although the ever-changing landscape of Dubai may surprise us once again.

The laws in Dubai are slowly and surely changing, and with RERA becoming more vigilant, with the application of the Dubai Property Laws and the support of the Dubai Lands Department, we are getting closer to and more in line with the rest of the world. Dubai still has a long way to go, but changes are happening in the industry with everything from Phase 2 RERA registration for Real Estate Agents to the Dubai Land Department closely monitoring the payments made to sellers during the transfer of property ownership. These things were non-existent in 2011 and we can be certain that we will continue to see even more changes before 2013.

Security and protecting sellers, buyers, landlords and tenants seems to be the main focus for each new law that is put into practice and to ensure the ‘old’ ways that we were used to for so long slowly become a thing of the past. There is also a much stronger presence of the Rental Committee and the handling of disputes between landlords and tenants. Tenants now feel as if they are being protected and landlords are now more likely to uphold their responsibilities as property owners. These changes are bound to create a stronger marketplace and give people a reason to settle here and eventually call Dubai their home.

The laws aren’t taking as long to implement as before and we are seeing more and more penalties being issued for non-compliance. Agents are now taking their role much more seriously which is influencing the service levels that all clients face when buying, selling or renting property in Dubai. Change is still slower in this area, but agents will be forced to change or leave the industry completely. It is a long time coming and I am certain Dubai will welcome it with open arms. This has had a strong impact on all those involved in the real estate industry and these changes can only have a positive effect on the marketplace and on those individuals still contemplating investment in Dubai.

The property prices of today may not be there tomorrow. Change is happening every day and its visibility is wholly apparent. It can only get better and the resilience of the Dubai real estate market has proven its worth and value. If you are an overseas investor or someone looking to make Dubai your home, now is definitely the time to make it happen.

July 2012

‘Sellers that sold at the peak are now reinvesting, and buyers who purchased at the bottom are continuing to invest’

14 Better Mortgages

Property yields in Dubai among the highest in the world Property yields in Dubai outstrip ROI on most bonds, fixed income assets and managed funds

Russia: 4.19% Lebanon: 4.65%

C

China: 2.66% United Kingdom: 4.31%

Global Gross Rental Yields Source: Global Property Guide

Rental yields are extraordinarily high in the UAE, compared to most other countries around the world.

Now that prices have stabilised in premium locations, the high yields make investing in the UAE property market an attractive proposition for any investor.

Another important factor for investors to consider is the July 2012

Y

CM

MY

Hong Kong: 3.23% UAE: 6.89%

United States: 4.69%

M

Australia: 3.64%

favourable tax environment in the UAE. Rental income is tax free, and there are no capital gains taxes levied on the sale of properties. Over the past couple of years the market has been dominated by end users, but the market is now seeing a return of investors. However, unlike the peak of the market in 2008, investors are less concerned about capital growth and more focused on consistent, secure rental yields. It’s a very different market dynamic.

CY

CMY

K

16 Better Mortgages

Why we bought in Dubai Outside their new home in Victory Heights, the Frost family reveals what prompted their jump from lessees to buyers – plus their experience of getting a mortgage...

Images by Helen Riley

Rob, how long have you and your wife Rebecca been in Dubai?

Rebecca has been here since 1999; she is a founder of Rebecca Treston Aesthetics at EuroMed Clinic on Jumeriah Beach Road (specialising in laser aesthetics). Meanwhile, I have now been in Dubai for six years – I’m a teacher at DESS, the Dubai English Speaking School.

Why did you decide that now was a good time to buy here?

As we have both been here for a while now, we decided that we didn’t want to spend any more money on rent. We just thought, ‘why not?’. At present we see our future being spent in Dubai and, as we already own a property in the UK, we wanted to finally live in a place of our own over here too.

Were you put off by the value homes lost during the Dubai downturn?

We weren’t really put off by this as we are hopeful that it has now reached as low as it can go, and instead we saw it as a good time to buy. However, buying is obviously a big commitment as we can’t just pack up and leave now, we have a financial tie to the city.

What made you decide to buy in Victory Heights?

After considering and viewing properties in several areas such as Falcon City, Jumeriah Village

July 2012

Better Mortgages 17

July 2012

18 Better Mortgages

Triangle, The Green Community and Arabian Ranches, we opted for Victory Heights as it seemed more complete than a lot of the other communities. Although it is not quite finished here, we are hoping that the area has the potential to increase in value when it is. Also, in terms of actual house space, we could purchase a detached property at Victory Heights for the same price as terraced and semi-detached in other areas.

Did you decide to go direct to a bank for your mortgage or through a broker?

We considered going through a bank but there is quite a lot of paperwork involved with all the attestation and dialogue required with the authorities. We decided to use a broker in the end, the main reason being that we don’t speak Arabic! We sourced a few brokers and eventually opted for Gulf Lenders Network who were excellent throughout the whole process and until completion.

How did you find the mortgage application process as a whole?

As we used a broker the process was okay, although it involved a lot of scanning of documents. The numerous fees involved were also more than we expected, especially in comparison to buying a property in the UK. Were you happy with the choice of mortgage products available?

There was a selection of mortgage products on offer, although with less providers than back in the UK. With the advice of the broker, though, we are happy with the mortgage we chose in the end.

July 2012

Better Mortgages 19

What do you think of the interest rates on offer in Dubai?

Again, in comparison to the UK the rates on offer here are much higher – they are similar to when we bought a property in the UK back in 2005. However, after speaking to friends who also have mortgages here in Dubai the rates are currently lower than they have been in the city previously.

‘We see our future being spent in Dubai and we wanted to finally live in a place of our own’

What advice would you give to other people who are thinking of buying a property here?

Don’t just think of the present but consider (and investigate) what developments are planned in the surrounding areas. Consider location, accessibility and ask for the opinion of other residents.

Also, look into other developments that the construction company has completed to see how they are maintained. If we were to start the whole process again we would be very careful with our choice of estate agents and only use reputable firms; don’t sign anything unless you’re 100% sure what the consequences of doing so might be.

If finances allowed, would you consider buying another Dubai property for investment purposes?

That is a big ‘if’ regarding finances, but, if we were able to, I don’t think that we would buy an ‘investment property’ as such. We think that the time to make money quickly from property in Dubai has passed and, instead, buying a property needs to viewed as a long-term investment.

Fingers crossed the property market will gradually increase at a reasonable rate; flats and villas are still being built so the signs are positive for the future!

July 2012

20 Better Mortgages

50 Great homes to buy Why waste your money on rent when you can own one of these on-the-market gems?

For Sale

The Villa Dubailand

AED 2,740,000 5 BR

Ref # VI301728

Mosela The Greens Ref # AP292139

July 2012

Global Lake View JLT

AED 950,000 2 BR

Ref # AP306539

AED 950,000 1 BR

Green Lakes Tower 2 JLT Ref # AP300947

AED 6,450,000 4 BR

Better Mortgages 21

Green Community Motor City Dubailand

AED 4,500,000 4 BR

Ref # VI306052

Marina Heights Dubai Marina

Downtown Dubai Ref # AP307217

AED 875,000 1 BR

Ref # AP306158

AED 1,500,000 2 BR

Ref # AP307485

South Ridge 2

Bay West Tower Dubai Marina

Ocean Heights Dubai Marina

AED 1,620,000 2 BR

Ref # AP41241

AED 1,500,000 1 BR

Terrace Apartments DIP

AED 2,200,000 3 BR

Ref # AP158115

July 2012

22 Better Mortgages

Palmera 3 Arabian Ranches

AED 2,400,000 2 BR

Ref # VI173409

Liberty House DIFC

Arabian Ranches Ref # VI305895

July 2012

AED 3,250,000 3 BR

Ref # VI305878

AED 699,000 Studio

Ref # AP262917

Mirador Phase 1

Savannah Arabian Ranches

Garden West Apartments DIP

AED 1,350,000 2 BR

Ref # AP3368

AED 4,899,995 5 BR

Private Villa Barsha Ref # VI299741

AED 10,100,000 5 BR

Better Mortgages 23

Block 2C Jumeirah Village

AED 2,000,000 2 BR

Ref # VI69962

Indigo Tower JLT

Jumeirah Village Triangle Ref # VI96816

AED 1,900,000 3 BR

Ref # AP54277

AED 1,587,083 3 BR

Ref # AP274456

Block 6A

Shams 2 JBR

Emirates Hills Phase 1 Emirates Living

AED 27,500,000 7 BR

Ref # VI293963

AED 1,800,275 2 BR

The Waterfront Dubai Marina

AED 5,499,995 4 BR

Ref # AP24347

July 2012

24 Better Mortgages

Global Lake View JLT

AED 950,000 2 BR

Ref # AP306539

Al Hallawi (B14)

AED 4,300,000

Palm Jumeirah

4 BR

Ref # AP174498

Fairfield Dubai Marina Ref # AP275200

AED 1,750,000 2 BR

Al Shera Tower JLT

AED 1,275,000 2 BR

Ref # APM215242

The Crescent IMPZ Ref # AP263974

July 2012

AED 259,500 Studio

Saba Tower 2 JLT Ref # AP94480

AED 1,000,000 2 BR

Better Mortgages 25

Silicon Arch Dubai Silicon Oasis

AED 430,000 1 BR

Ref # AP279018

Park Tower B DIFC

Downtown Ref # AP307460

AED 1,670,000 2 BR

Ref # AP306695

AED 1,213,960 1 BR

Ref # AP304148

8 Boulevard Walk

Murjan 1 JBR

Zanzebeel 3 Downtown

AED 1,500,000 2 BR

Ref # AP306051

AED 1,050,000 1 BR

Executive Towers Business Bay

AED 7,070,000 4 BR

Ref # VI306603

July 2012

26 Better Mortgages

South Ridge 6

AED 3,700,000

Downtown

3 BR

Ref # AP251754

Al Muneera Al Raha Beach

AED 2,399,000 4 BR

Ref # AP303520

Al Muneera

AED 865,000

Al Raha Beach

1 BR

Ref # AP304296

Al Muneera Al Raha Beach

AED 4,399,000 4 BR

Ref # VI303332

Sun Tower Al Reem Island Ref # AP224044

AED 1,975,000 3 BR

Al Naseem C

AED 3,050,000

Al Raha Beach

3 BR

Ref # AP304267

July 2012

Better Mortgages 27

Al Muneera

AED 4,250,000

Al Raha Beach

4 BR

Ref # VI305821

Al Muneera Al Raha Beach

AED 1,395,000 2 BR

Ref # AP304396

Al Naseem A Al Raha Beach Ref # AP229929

AED 3,000,000 2 BR

Building 29 Al Reef

AED 570,000 1 BR

Ref # AP305420

Ocean Terrace Residence Al Reem Island Ref # AP284940

AED 1,299,000 2 BR

Al Muneera Al Raha Beach

AED 1,369,000 2 BR

Ref # AP220384

July 2012

28 Better Mortgages

Saadiyat Beach

AED 4,800,000

Saadiyat Island

3 BR

Ref # VI297196

Saadiyat Beach Saadiyat Island

AED 5,950,000 4 BR

Ref # VI301827

Tala Tower Al Reem Island Ref # AP306639

AED 800,000 1 BR

Al Naseem C

AED 1,778,100

Al Raha Beach

2 BR

Ref # AP306164

Saadiyat Beach Saadiyat Island Ref # VI307223

July 2012

AED 22,329,000 6 BR

Al Zeina - Residential Towers Al Raha Beach (Ref # AP304111)

AED 2,023,004 3 BR

OFFSHORE COMPANIES, TRUSTS AND BANKING

Since 1988 our global network of offices has provided offshore structures for many thousands of discerning clients around the world.

If you are investing in property (or anything else for that matter) in Abu Dhabi, Dubai or elsewhere in the world then it is vital to understand the local laws on inheritance and transfer taxes.

Let us show you how correctly structuring your investment can dramatically cut your costs and secure the assets for future generations. Getting it wrong can be very expensive.

Call us now for an initial chat, free of obligation or charge: John Hanafin TEP MCSI, Nicholas Cully LL.B (European), ACSI Abu Dhabi +971 2 622 5283 Dubai +971 4 448 6010 info@SovereignGroup.com Licensed by the Dubai Economic Department, and Dubai Multi Commodities Centre.

Licensed as agents for Ras Al Khaimah International, and Jebel Ali Offshore Companies.

www.SovereignGroup.com Offshore & Freezone Specialists since 1987

Abu Dhabi, Bahamas, Bahrain, British Virgin Islands, China, Curaรงao, Cyprus, Denmark, Dubai, Gibraltar, Guernsey, Hong Kong, Isle of Man, Malta, Mauritius, The Netherlands, Por tugal, Seychelles, Singapore, South Africa, Switzerland, Turk s & Caicos Islands & United Kingdom

Home sweet home, now at 4.99%! www.nbad.ae Home is where your heart is. With NBAD Escan Loans at just 4.99% interest, owning your home is now a sweet reality. NBAD offers you a comprehensive home finance solution for properties across the UAE, whether you are purchasing a completed property or building one or just seeking financing for home improvements. Apply today and take advantage of the attractive interest rate and zero processing fees.

• Salary transfer not required • Loan tenors up to 30 years • Finance up to 80% of property value • Includes loans for home improvement/ • High loan amounts up to AED 12 million extension for UAE nationals Terms and conditions apply. Offer valid for a limited period.

800 2211 customersupport@nbad.ae