Aqua Properties invests $25m in Skycourt Tower, Dubai
Firm intends to put apartments up for re-sale to clients
Aqua Properties has announced a $24.77 million bulk purchase of apartments in the Skycourt Towers project, which is situated in Dubailand.
The Dubai property firm intends to offer apartment units for re-sale to clients, with a seven-year monthly payment plan. Buyers can purchase studios from $1,089 a month, one-bedroom apartments from $2,450, and two-bedroom apartments from $3,539, with post-dated cheques over an 84-month period.
There will be no interest charged, and clients will not require prior bank approvals, Aqua said in a statement.
“Aqua Properties’ commitment to the Dubai market is robust; in an environment of uncertainty about the year ahead, we are confident. Our investment reflects our beliefs and stems from our experience and expertise of the local property market,” said Paul Christodoulou, Chief Operations Officer at Aqua Properties.
“Skycourt Tower apartments offer not only the opportunity to own an affordable home, but present an excellent investment.”
Christodoulou added that the Skycourt Towers payment plan has opened up the opportunity for a new segment of mid-earners to buy property in Dubai – either those who are unable to get mortgage approvals, or those who wish to avoid the costs implicated.
Investors can expect a return on investment of above 10%, he said.
Located within the Dubailand residential complex near the Al Ain Road, Outer Ring Road and Emirates Road, the Skycourt Towers development offers over 2,800 apartments across six towers.
Both vacant and occupied apartments are available for end-users and investors.
