Real estate firms’ officials confirmed the need to provide facilities in payment for real estate units to meet the demand for property in quiet markets reported Emarat Al Youm.
They pointed out that the private sector has seen, finally, an increase in competition between companies to put up payment facilities and offers the added value aiming at attracting investors.
They told Emarat Al Youm that offers added value given by some companies finally centered on granting investors exempt from registration fee or fee for free services.
Supply and Demand
Kareem Baroudi head of marketing and sales in (Mazaya real estate Company) said that payment facilities are the need to keep pace with market supply and demand variables.
He added that also to correspond to increase competition between companies in presenting offerings to attract investors.
He noted that his company presented during the cityscape exhibition that finally ended in Dubai offers give the investors free registration fees and free services for a year.
He added that “not only that but add to this payment facility offers, which include a 20% fee from the contract of property price, and 80% when receiving units.
He added that increasing the competition between the companies in granting payment facilities are positive things in the real estate sector.
But he said it provided that offers shouldn’t be vulnerable facilities aiming at advertising and marketing only for some companies.
Anis Sajan-Managing Director Danube Group said that the recent period has seen a significant increase in offering payment facilities for real estate units from the real estate companies.
He added that the company initiated a competition in putting up facilities for investor repayment includes payment of 10% of the amount at the beginning.
He added that after a period of 60 days paying 15% of the price of real estate unit to complete payment process of the unit then pay by 1% per month of the property price.
He added that the payment facilities commensurate with market economic variables as commensurate with the larger segment of dealers in the community, which increases demand by investors.
The Quiet Markets
Naji Alia the Managing Director of Tebyan Company said that quietly real estate markets in the past period is the main reason that makes companies to present payment facilities offers to motivate and stimulate demand for purchase.
He noted that most of the offerings include flexible and affordable payment plan for dealers.
He stressed that some offers include payment of 40% of the property price after the end of the project while other offers included granting price reductions of up to 10% of the property price to customers who prefer cash payment once for the unit price.
For his part Khalifa Al Shaibani, Director General of Tilal Properties, said offers payment facilities in the real estate sector is necessary to stimulate current demand.
He added that would be through granting soft dealers payment of the value of the contract for the purchase of the real estate unit.
He pointed out that the payment facilities do not represent any loss for developer, but maintain their profit margin from fallout quietly demand because they are the developer and investor of the project.