SouFun Special Interview: Burj Khalifa Tower's annual net returns can reach 12%
World's highest building - Dubai Burj Khalifa Tower is landing China and up for sale exclusively on world.soufun.com.. We have invited Avais Najam, the managing director of Dubai Venture Horizon Real Estate Brokers LLC again to give us the answers about Dubai properties.
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World's highest building - Dubai Burj Khalifa Tower is landing China and up for sale exclusively on world.soufun.com.. It attracts the attention of many netizens. How is the real estate market trend in Dubai now? Are there any advantages while investing on Dubai properties? What are the highlights of Burj Khalifa Tower? How is the purchasing process in Dubai? Facing these hot property questions, we have invited Avais Najam, the managing director of Dubai Venture Horizon Real Estate Brokers LLC again to give us the answers about Dubai properties.
Dubai real estate market is recovering strongly.
SouFun International: Domestic buyers don’t know Dubai real estate market quite well. Could you please introduce your company for us first?
Avais Najam: First, Venture Horizon Real Estate Brokers LLC is a famous real estate agency. We are mainly engaged in the selling agents of high-end property projects. The average price of our projects is around one million euros. Now we have listed selling projects on world.soufun.com like Garden Home, Lime Tree Valley, Shoreline Apartment, Silverene Towers, Marina Residence, Infinity Tower and Burj Khalifa Tower. Actually, Dubai properties have great competitive ability with other regions. We are glad to cooperate with SouFun International to show Chinese buyers Dubai's distinguished glamour.
Avais Najam, the managing director of Dubai Venture Horizon Real Estate Brokers LLC
SouFun International: Dubai real estate market has experienced ups and downs. What is your attitude towards Dubai real estate market now? Could you please forecast the further trend for us?
Avais Najam: It is true that the financial crisis in 2008 had great impact on Dubai. The financial crisis was caused by hot money which flow in and out of Dubai in short times. Dubai was not the only victim of the financial crisis. British properties in London were also affected. Though the London real estate market is recovering now, most markets of other British areas are still in tough situation.
But, Dubai's real estate market is recovering now. Dubai's newly residential property price index released by famous real estate information company REIDIN shows that Dubai housing price has risen 10.18% in March this year, villa price has risen 18.11% which comparing to last month. It is world’s first-ranking increase rate. According to the rent index, Dubai's general residential index has risen 11.64% than the first quarter of 2011. Rent increase in Dubai appears to be optimistic. So, we have reasons to believe that Dubai properties will have certain annual increase ratio in the following years. It is the best tig to invest Dubai properties now.
Burj Khalifa Tower's annual net returns can reach 12% and you can finish purchasing procedures within 48
SouFun International: Comparing to other regions, what are the advantages to invest in Dubai?
Avais Najam: According to rent returns, the properties in Dubai have great competitive ability. The annual rent returns usually can reach 6% to 10%. Moreover, Dubai is a glamorous city with low tax. And it is also the cultural and financial center of Middle East. Eighty percent of Dubai's living group is immigration. So the city is highly internationalized.
SouFun International: After the world's highest building - Burj Khalifa Tower is listed for sale on world.soufun.com;we have received many enquiries from neitizens. Could you please introduce the main highlights of the project for them?
Burj Khalifa Tower's annual net returns can reach 12%
Avais Najam: First, Burj Khalifa Tower is Dubai's landmark. It has outstanding location in Dubai's best region. And this world's highest building has world's top construction. Its construction level and inner facilities are both luxurious.
Moreover, the rent rate of Burj Khalifa Tower itself is extremely high, but the price level is comparatively low. Comparing to the opening price of 60000 RMB per square meter and the highest history price of 220000 RMB per square meter, the average residential price of Burj Khalifa Tower is around 70000 RMB per square meter now. It is the best tig for investment.
Among our customers, many investors want to buy houses up than 100 floors because of the wide vision and beautiful scenery. But these kinds of houses are very limited now. This world's unique high returns project is really worth investing. The annual net rent returns rate is between 5% and 12%.
SouFun International: How is the occupancy situation of Burj Khalifa Tower now? Are there any Chinese people?
Avais Najam: The residential houses of Burj Khalifa Tower are mainly for sale and rent. The occupancy situation is very optimistic. It is true that some Chinese people have invested Burj Khalifa Tower. But I didn't know the ratio details quite well.
SouFun International: Is the purchasing procedures of Dubai's properties very complex? How is the whole purchasing procedures?
Avais Najam: According to my knowledge of British properties in London, it takes at least two or three months to buy a completed house in London. But it is quite easy to buy a house in Dubai! You should only pay 10% of the deposit and you can finish the procedures within 48 . The house will be delivered to you in a week.
Actual view within Burj Khalifa Tower
SouFun International: During the purchasing process, what kind of service will your company provide?
Avais Najam: We provide various services from purchasing to mortgage, even includes renting and reselling in a one-stop purchasing service in Dubai. We provide all-oriented service like property enquiry, analysis of investment returns, local house viewing, legal enquiry and so on. It will bring buyers a lot of convenience.
Dubai's property agency proves sunrise scenery twice in one ute
SouFun International: It is widely spread among Chinese media that people can watch sunrise for two times on Burj Khalifa Tower. If you have watched the sunrise in lower areas of Burj Khalifa Tower, then you can take fast elevator to the top floor and watch the sunrise scenery again. Is that true? Could you please share your wonderful experience with neitizens?
Avais Najam: I have just heard about that. But it is true that the elevator in Burj Khalifa Tower is really very fast. It takes you only one ute from the bottom to the top. So, I have the reason to believe the sayings. If we have chance, we can go to the world's highest building - Burj Khalifa Tower and feel it by ourselves.
For further information, please contact us at haiwai@soufun.com