Seven Palm project: features of the complex and construction progress
Despite the trials that the world has had to endure this year, many segments continue to operate fully, implementing long-standing plans. This includes the UAE real estate market, where Seven Palm project continued to be built even in a pandemic. A new residential complex is being built on the Palm Island in Dubai and promises to be a grandiose construction.
Most of the work on the project is already completed. In the first quarter of the year, when the world economy was in turmoil and the Coronavirus pandemic swept through almost all countries, Dubai continued to sell new investment property. The developer is Seven Tides, which is already known on the local market for its projects of hotel complexes and commercial objects.
According to the plan, Seven Palm will be ready for operation at the end of this year – as it was announced earlier. The outbreak of COVID-19 did not affect the progress of work and the developer stands all deadlines.
The new luxury residential complex offers not only comfortable apartments, but also the opportunity to get additional income from them. According to the analysis from Seven Tides, the project provides a guaranteed income of 10% per annum for 5 years. Purchasing apartments in the complex, you may rent them out, and get additional money. At the same time, all organizational aspects are taken care of by the management company.
There is a flexible payment system for Seven Palm investors. Those who wish can reserve the apartment at the stage of construction, making a 5% deposit of its value. Further, at the conclusion of the contract for the purchase of the object must pay 6% of the amount, in 3 and 5 months – another 5%. After that the cost of the apartment is to be repaid at 9% during 7 months. When the object is put into operation 20% more is paid.
The remaining 50% of the amount can be repaid in installments within 12 months after the completion of construction. Such a convenient scheme allows to compensate a part of the invested funds already for the first year of real estate operation due to the income from its rent.
There are a lot of people willing to buy an apartment in the Seven Palm project, and investors are not afraid of instability caused by the pandemic, and as before they are confident in the profitability of investment in the real estate of Dubai. Besides, the developer did his best so that during the quarantine period the future owners would be able to appreciate all advantages of the object. For this purpose, clients were offered virtual 3D tours, remote communication and detailed consultation.
Seven Palm residential complex offers luxury apartments with hotel service. It consists of two towers on 14 floors, next to a building with hotel rooms, which is designed exclusively for investment.