Cityscape Global 2019 will kick off today at the Dubai World Trade Center and will run until 27 December with the participation of more than 100 companies, as well as a large number of international investment delegations heading to Dubai to explore investment opportunities in the Middle East. Middle.
Emirates Today sponsored offers that will be launched during the exhibition by real estate developers, most notably «zero registration fees» on a number of their projects, exemption from service fees for 10 years, in addition to guaranteeing the return on investment, which reached 10 years by up to 10% .
In addition, Emirates Today has seen a document issued by the Real Estate Regulatory Authority (RERA), the regulatory arm of the Dubai Land Department, warning participants of the exhibition against violating laws and regulations, pointing out that there will be penalties imposed on developers and realtors. In the event of committing wrong practices that exceed the laws and regulations governing the work inside the exhibition, pointing out that the penalties reach until the cancellation of the company and intermediaries who violate the law.
Participating companies
Chris Speller, Director of Cityscape Group, said: “The number of companies participating in the exhibition this year is more than 100 companies, in addition to dozens of investment delegations from several countries, will participate in (Cityscape Global) this year.” Regional investors are estimated to have spent US $ 15 billion (AED 55 billion) in the global real estate sector over the past year as demand for real estate continues to rise in the residential, commercial, hospitality and industrial sectors.
The last few days have seen preparations by the participating companies, which include promotions on its portfolio of projects and exclusive offers for visitors to «Cityscape Global» over three days, including «Nakheel», «Aldar Properties», « Arad, Azizi Real Estate, Tilal Real Estate and Mag Real Estate.
Zero fees
Nakheel will offer a number of offers in its various residential projects, including reduced initial payments, zero real estate registration fees and no service fees for two to five years depending on the project, as well as free membership in one of its clubs in one of the projects. For up to two years, plus seven-year repayment plans.
Guaranteed yield
For its part, Arad will be offering offers on two of its projects, Nesma Residence, a lifetime exemption from service charges, when buying any home in the project, and Aljada, which will offer offers on guaranteed return on investment of 10%. For 10 years for units within The Nest student housing complex.
Azizi Real Estate Development offers offers on many of its projects, including exemption from service charges, post-delivery payment plans, a guaranteed return on investment of 7%, and offers of exemption from service charges on all amenities.
Tilal Real Estate is also reviewing the 25 million square feet 'City of the Hills' project, one of Sharjah's mixed-use freehold projects. The offer includes a discount of AED 250,000 for cash buyers during the three days of Cityscape Global and a 7% discount with a 24-month payment plan.
RERA Document
In addition, Emirates Today has seen a document issued by the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department, warning participants to violate laws and regulations, pointing out that there will be penalties imposed on developers and realtors, if Commit wrong practices that go beyond the laws and regulations governing their work inside the exhibition, pointing out that the penalties reach until the cancellation of the company or the offending broker.
RERA pointed out in the content of the document that it is a malpractice for companies to prosecute and inconvenience to visitors on the roads, which leads to the violation of the company and warning them, leading to the removal of the company from the institution's records in the event of a repeat violation.
In a circular, RERA also warned companies and real estate agents participating in the exhibition against violating laws and regulations in direct sales.
She pointed out that the Foundation will impose penalties on developers and real estate brokers, if they commit wrong practices, beyond the laws and regulations governing the work inside the exhibition, and related to direct sales operations, which was allowed by the Dubai Land Department in the exhibition in 2017, pointing out that the penalties will be Gradual, starting with the warning through financial fines, leading to the removal of the company from the Department's records.