Dubai Properties Mudon Fee Refund
Dubai Properties Mudon Fee Refund shows just how worried developers are about the potential for this increased fee to depress the Dubai Property market still further. The market has been falling for all of 2015 and their are worries that this trend will continue through 2016.
Dubai Properties has waived 50 per cent of the Dubai Land Department registration fees for 30 five-bedroom villas, ready-to-occupy, in the Mudon community in Dubailand. The properties are priced from Dh3.9 million to Dh5 million.
In order to attract buyers, Dubai Properties has waived 50 per cent of the 4% Dubai Land Department registration fees. The offer will be valid till the end of the year. Buyers can pay 20 per cent of the sales price upon booking the villa and 80 per cent after handover. Dubai Properties is working with Abu Dhabi Commercial Bank, Dubai Islamic Bank, Al Noor Bank and Rak Bank for those looking for financing on their villa purchases.
Dubai Properties says it has handed over 390 villas in phase one of the Mudon development since the end of 2014, of which over 75% are now occupied. These units were priced from Dh2.7 million upward.
A large community centre is ready and shops are in the process of being fitted out. This is a villa and townhouse community located on Umm Suqeim Road. On completion it is to include the Mudon Central Park and a Gems school which is due to open in September 2016. Other facilities it has said will follow include a clinic, nursery, pool, gym, jogging and cycling tracks, kids’ zones and football and basketball courts.
In an efford to access market demand for more affordable housing, Dubai Properties introduced townhouses in phase three for the first time. The developer sayss that 700 three- and four-bedroom Arabella townhouses launched in May 2015 were fully sold out. Construction of this phase has commenced and is expected to complete in 2018. Phase 3 houses have starting prices from Dh1.5 million.
According to Dubai Properties residents at Mudon are predominantly end-users, including local Emiratis, Indians, Iranians, British, Europeans and Pakistanis.