Ramada Residences
AED 2.3M ≈ USD 626,276
Amenities
- A/C
- Covered Parking
- Pets Allowed
- Swimming Pool
- Security
- Gym
- Landscaped Gardens
- CCTV Security
- Restaurants
- Children's Play Area
Location
Dubai Island - Dubai Islands - Dubai - United Arab Emirates
Service charge
AED 22–26 per sq.ft, my estimate. Most buildings here have not published theirs.
Buying on Dubai Islands
The general rules that apply to any off-plan purchase on the islands. The specifics for this project are above.
Ownership, tax and visa
Dubai Islands is a designated freehold zone, so a foreign buyer owns the property outright with no local partner and no lease. There is no annual property tax in the UAE, no capital gains tax and no tax on rental income. The 4% Dubai Land Department transfer fee plus AED 4,200 admin is paid once, at registration. At this price the purchase clears the AED 2M threshold for the 10-year Golden Visa, measured on the registered value.
How you buy off-plan here
A reservation form and a deposit of typically 5 to 10% holds the unit, paid to the developer. The Sales and Purchase Agreement follows within 14 to 30 days and sets the payment plan and the delay clause, which is the paragraph worth reading twice. DLD takes 4% and registers you on the Oqood off-plan register. Instalments then follow construction milestones into the escrow account, and the Oqood converts to a full title deed at handover.
About the developer
Grovy Real Estate Development L.L.C
1 project on Dubai Islands
See everything they are building here
