Profile Residence Dubai Completion

Profile Residence Dubai Completion

Profile Residence Dubai Completion

You may well have recently been in receipt of one of the emails below (scroll to the bottom of the post to see the emails) from Rushika Kheradia, Customer Relationship Manager at Innovation SEZ Developers, currently the master developer of the Profile Residence, Bermuda Views and Eagle Heights projects in Dubai.

The email is looking for those who purchased units back in 2004 to 2008 to pay their Dubai Property Registration Tax because the Dubai government decided in 2013 that, rather than the initial 2% tax that was agreed, it would insist on payment of a 4% tax by the end of June 2015, subsequently extended to the end of October 2015.

Many people mistook the emails for a demand to complete on the units (hence the title of this article), as they are, according to the developer, about to complete (end of 2015 is the quoted completion for most of them). Better late than never I guess. The facts on the ground would dispute this timing somewhat, it appears these developments are a good 12 months to 2 years from completion, but the developer seems keen to get funds on board.

For those who wanted to complete on their Profile Residence property this is great news. For others, not so much. This is either because they never intended to take ownership of the properties in the first place (they bought them to ‘flip’ them before taking ownership) or they are now in a very different place financially and can’t afford to complete or simply have far better uses for that money right now.

Selling your Profile Residence Property or Deposit

If you have received communication from Dubai asking you to pay your Dubai property registration fee or to complete on your unit we may well be in a position to help. Just drop us a note to info@selldubai.co.uk and, on receipt of details of your unit, we’ll endeavour to find someone that will either purchase the contract from you or the property if it has already completed. We can’t guarantee anything, because these are assessed on a property by property basis, but we should be able to unearth a buyer.

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Dear Unit Owners,

A kind reminder to do the needful.

Please avoid this email in case you have already made the payment for your Unit Registration at the Dubai Land Department.

Thank you.

Rushika Kheradia, Customer Relationship Manager, IMS JLT,

HDS Business Centre, Cluster M,

Office no. 1808, 18th floor

Jumeirah Lake Towers

Dubai, UAE

Tel: +971 4 447 7476
Fax: +971 4 447 7475
Website: www.imsjlt.com

_____

From:*Rushika Kheradia [mailto:info@imsjlt.com]

Subject: Your Unit Registration – Profile Residence
Importance: High
Dear Unit Owners,

Please find the attached ‘Unit Registration letter’ and ‘Dubai Land Department Circular (in Arabic & English)’, which is self explanatory.

Should you have any queries, please do not hesitate to contact us on the below mentioned number.

Thank you.
Rushika Kheradia

Customer Relationship Manager
Tel: +971 4 447 7476
Fax: +971 4 447 7475

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