Property description

Project:ESCAN Marina Tower
Plot Number:392434
Specification:4B + G + S + 31 + R
Developer:Tharwaa Escan (Saudi Arabia)
Consultants:Conin Incorporated
Contractor:DUBCO Contracting LLC
Completion:Q1 (Feb / March) 2015
Terms: 4 Year Interest Free Payment Plan AFTER HANDOVER



With easy, trafficless, access to and from SZR, Escan Marina is an ideal choice for home owners and investors alike. And with an unprecedented 4 year (interest free) payment plan AFTER HANDOVER, owning a property in the prestigious Marina area has never been easier.
Currently, the structure of the building is 100% complete. Tile works in the entire building are complete. MEP works, exterior glass & aluminum cladding are in progress. And the internal elevators are fully operational.
There are a total of 111 units (1 bed and 2 bed only) available for sale on a 4 year (after handover), interest free, payment plan. These units are scheduled to be released on the 9th of August 2014.
Prices for 1 bedroom units range from AED 1.2m - AED 1.55m and prices for 2 bedroom units range from AED 1.75m - AED 2.3m (based on size, floor, layout and view).
These units are available directly from the Developer through AEON Properties. For illustration purposes, below is a rental yield calculation based on an ACTUAL UNIT. (please note - ALL PICTURES ARE FROM ACTUAL BUILDING AND UNITS AND WERE TAKEN ON 23rd JULY 2014).

44% UNTIL HAND OVER (FEBRUARY / MARCH 2015)

THEN BALANCE OF 56% AFTER HAND OVER WITHIN 4 YEARS WITH 16 POST DATED CHEQUES

For Example: If you went for unit 208 (which has a fantastic full pool view), and the OP is 1,172,855
By Handover, you will have paid the following:
44% of OP = 516,056
4% Uqood = 46,914
2% Commission = 23,457
Total = 586,427 (And the balance amount payable over 4 years will be 656,799)

Year 1, you will be paying 4 cheques, for a total amount of 164,200 (total of the 4 quarterly payments)
Plus you will be paying approximately AED 15/Sqf as maintenance charges totaling 12,860
Giving you a total spend of AED 763,487 at the end of year 1.
And assuming the property will be rented out for a minimum of 85,000 per year (I'm sure you will agree that this is a bare minimum).
for a total of a 2 year period

Giving you a NET YIELD of 85,000 / 763,487 = 11.1% (For year 1)

Similarly, You will pay an additional 164,200 over year 2 and 12,860 maintenance charges.
Giving you a total spend of AED 927,687 at the end of year 2.

Giving you a NET YIELD of 85,000 / 927687 = 9.16% (For year 2)

Escan Tower offers Studio apartment for sale . The apartment with the stunning view of the partial Sea and Marina.The tower have an ultimate convenient life for its residents.Ample car parking space available. The total area size of 485.41 square feet.It has marvelous and integrated wardrobes with modern bath. This property has high class kitchen design with excellent and spacious cabinets and appliances. This is the best opportunity provided by Aeon Properties