By Kingsley Adegboye
TO the serious minded property investors, Marina 101, the latest addition to Dubai skyline may have opened a plethora of opportunities for them with an ambitious freehold project that has a pioneering ‘’money-back’’ concept that allows investors after possession to gain returns of six per cent a year from the retail income of the property.
At a property showcase last week in Lagos to highlight the value that has returned for investors into the Dubai property market, Fine & Country, a leading international estate agent, marketers of the multi-billion dollars five star hotel and serviced apartments noted that investors into the third tallest building in Dubai will be offered the opportunity of buying freehold units of their choice which after possession, not only guarantees a minimum of six per cent per annum return, or 75 per cent of the net profit for the three years, but also 28 days per year private usage.
Mr. Christopher who spoke on behalf of Fine & Country Lagos office, added that the remaining days will then be offered in the open market by the hotel operator for short or long stay let, pointing out that ‘’we are delighted to be showcasing this exciting freehold property investment opportunity that demonstrates the real value to be gained now by those looking at the Dubai property sector. Dubai’s hospitality sector is experiencing growing demand for high spec, affordable and well located accommodation that is an alternative to the traditional hotel model.
‘’Marina 101 is a pioneer of such a solution and provides investors with the dual benefit of both a guaranteed financial return and the wonderful bonus of 28 days per year private usage of a fully serviced five star apartment or hotel room. At 432 metres high and spanning 101 floors, Marina 101 really is a unique proposition that is not only scaling new heights on Dubai’s skyline, but also in terms of the guaranteed and potential returns it has to offer investors.
‘’Located in the heart of the popular Dubai Marina area, a highly sought-after residential and commercial district, Dubai Marina has restricted their hotel and serviced apartment licenses. As serviced apartments consistently outperform traditional rental models, the income potential from a Marina 101 investment will become a sought after tradable property for those willing to trade prior to completion. Each apartment comes with a guarantee of 25 per cent minimum return over the first three years of occupation.
‘’Marina 101 which is scaling 412 metres and comprising one, two and three bedroom apartments, the tower which is one of tallest skyscrapers in Dubai is the tallest hotel serviced apartments building in the world. It is one of the first developments in Dubai to offer five star serviced hotel apartments on a freehold basis. Anchored by one of the world’s most popular five star hotel chains, the Crowne Plaza, Marina 101 promises exceptional long-term returns to premium investors’’, he said.
A project of Sheffield Holding in Dubai which commenced in 2007, is expected to completed in the fourth quarter of next year. Already, structural works have been completed with fit out process underway.