One Dubai developer does away with down payment - will others follow?
Reportage Properties will instead seek commitment for monthly payments
Dubai: No down payment – that’s the latest marketing tool being used in Dubai’s property market. At least one developer is doing so.
Reportage Properties is eschewing all down payments for its Alexis Tower units – located in Downtown Jebel Ali on Shaikh Zayed Road - as a special offer.
Instead, buyers for the studio units, priced from Dh399,000, will have to commit to paying Dh8,000 a month. The high-rise – opposite the UAE Exchange Metro Station - offers 378 units.
Recently, Reportage had come up with an offer to waive service charges for 10 years. According to Islam Ahmed Suleiman, Chief Operating Officer, said: “There are good indications of improved demand in Dubai.”
The high-rise is about 20 per cent complete, and set for handover in the the last quarter of 2022.
The Alexis consists of 16 floors, with three floors for parking.