DUBAI: Emaar Properties, in partnership with the Dubai Multi Commodities Centre, has reportedly launched 184 units in an under-construction building in Dubai Hills Estate, offering free business licence to the buyers.
Emaar, the Dubai-based real estate company, has announced some good offers for the buyers. According to report, those who pay 20 per cent of the apartment price at executive residences will get a free three-year renewable business licence (estimated to be worth Dh130,000), a free three-year renewable family residency visa and 100 per cent business ownership. The owner can also apply for an employee visa with every trade licence.
A one-bedroom apartment is priced below Dh1 million while two-beds range from Dh1.3 million to Dh1.6 million. The building is slated to be ready by 2021.
Earlier, business owners had to show their office tenancy contract as proof to get a trade licence. while, in this project, they can reportedly do so with their house Ejari certificate.
According to some Real Estate tycoons, this kind of freedom has never existed in the market before. It is being considered as a master stroke by the developer.
This is a product targeted at entrepreneurs and SMEs and is touted to be a game-changer in the UAE real estate industry. Entrepreneurs can now do away with the need to rent office premises.
The CEO of Allsopp & Allsopp was reported as saying: "It will give buyers the freedom to work flexible hours and perhaps set up a business they can run from home. The offer is exceedingly attractive to families with young children as it will give parents the option to spend more time at home and be flexible with child care."