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Parkway Vistas, a luxurious residential development located at the highly anticipated Dubai Hills Estate, the mixed-use joint mega-project between Meraas Holding and Emaar Properties in Mohammed Bin Rashid City.

Parkway Vistas features an exclusive collection of 61 magnificent villas consisting of spacious six to seven bedrooms layouts. These beautiful villas are available in two sophisticated designs: Modern or Contemporary Arabesque. Residents can experience maximum comfort and convenience with the wide range of exclusive facilities and premium amenities that complement these residences.

Boasting a cutting-edge architecture, an elegant design, and superior finish, the villas display unparalleled class and refinement. Highlighted with top-of-the-line fixtures, natural sunlight flooding through floor-to-ceiling glass windows, and large balconies overlooking the surrounding lush landscapes and private gardens, these marvelous residences create a soothing yet vibrant ambiance.

Cutting-edge architecture, elegant design, superior finish, top-of-the-line fixtures, natural sunlight flooding through floor-to-ceiling glass windows, and large balconies overlooking the surrounding lush landscapes and private gardens are some of details that complete the interiors of these marvelous residences.

Specifically curated for the most discerning buyers, these stunning villas offer expansive indoor and outdoor living spaces that are perfect for family living. Built within a vibrant yet serene environment, these superb homes are a haven for residents to experience a mixture of modern luxury and healthy living through the extensive variety of lifestyle, leisure, and sports amenities available within their reach.

Dubai Hills Estate is one of Dubai’s most spectacular new developments. Situated between the two major thoroughfares of Al Khail Road and Mohammed Bin Zayed Road, Dubai Hills Estate is an extensive residential and lifestyle development comprising villas, low-rise apartments and townhouses. It is the first phase in the massive Mohammed Bin Rashid City project, that has aptly earned the moniker of ‘city within a city’ because of the grand scope of the development.

In addition to the residential projects, Dubai Hills Estate will also contain an 18-hole championship golf course, nature trails, hotels, resorts and the Dubai Hills Mall, which is expected to be on the scale of the massive Mall of the Emirates in the neighboring Al Barsha district.

Dubai Hills Estate is in a prime location, benefiting from quick and easy access to Dubai’s other urban hotspots such as Downtown Dubai and Dubai Marina.

The Lifestyle

With rolling greenery on all sides and tree-lined drives leading to and from the area, Dubai Hills Estate is meant to be enjoyed at a leisurely pace. It is a self-sufficient community in its own right, with a variety of residence types that makes it well suited for families and individuals alike.

Highlights

Dubai Hills Mall

The Dubai Hills Mall is a massive retail and entertainment complex being constructed on the northern edge of Hills Estate. It is expected to be larger than the neighboring Mall of the Emirates upon completion, and to become Dubai’s premier shopping destination.

Golf Club

The immense championship golf course will be the centerpiece of Hills Estate, giving residents a place to relax, relieve stress and enjoy some fantastic views of the city skyline.

Complaints regarding the hike in rents from Dubai residents are rising due to unreasonable increases being demanded by the landlord. There is no federal law determining the rent cap, each emirate has its own separate laws.

For the emirate of Dubai, Law No. 26 of 2007 regulates the relationship between landlord and the tenant and provides for regulations in regards to rent. In respect of rent, the Union Supreme Court has stated that “the effect of the provisions of a contract of lease (tenancy contract) as set out in articles 742 et seq. of the Civil Code is that rent is payable in consideration of the enjoyment of the thing leased.”

(It should be noted that the Dubai Law No. 26 of 2007 is applicable all over Dubai except for the areas that are covered by the DIFC zone as the real property in the DIFC zone is regulated by the DIFC Law No. 4 of 2007).

The law defines rent as a specified amount of consideration which the tenant is bound to pay according to the tenancy contract. The tenancy contract is the contract by which the landlord is committed to enable tenant to benefit from the property for the specified purpose and period against specified consideration and thus the amount of rent is to be specified in the contract and shall remain the same till the expiration of the said contract.

Further the law provides for the determination of the rent value in case the same is not provided for in the tenancy contract or where the rent is determined but it is not possible to evidence the same. In such cases the Committee i.e. the Judicial Committee authorized to settle disputes between landlords and tenants, is to determine the rent of the property so leased in accordance with the ‘similar rent’. The ‘similar rent’ is to be specified by the committee in accordance with the standards of specifying the rent increase percentage applied by the Real Estate Regulatory Agency (RERA). Also, the general economic circumstances in the Emirate, the status of the property, market rent in the same area and existing legislation are all factors that have to be taken into consideration when determining the similar rent. RERA is to set out criteria to determine the rent increase rates in the Emirate, in accordance with the general economic conditions therein.

Any dispute regarding the rent of leased premises is to be referred to the committee as the jurisdiction of the committee includes all such disputes.

Upon the expiry of the tenancy contract, it is to be renewed for a similar period and during the renewal the landlord may amend the contractual terms. He may review the rent which he may either maintain at the same rental amount or he may increase or decrease it. The rent so increased or decreased would be valid for the period of the tenancy contract. For the tenancy contract to continue to be in force it is essential that the tenant consents to the terms so amended by the landlord, if the parties do not reach an agreement, the Committee may decide a fair rent. If either party to the tenancy contract wishes to amend any of its conditions then he must notify the same to the other party not less than 90 days prior to expiry date but this condition may be nullified by agreement of the landlord and the tenant.

The law also sets a ceiling limit to the increase in the rent by the landlord so that landlords do not take advantage of the vulnerable position of tenants and exploit them by unreasonable increases in the rent rates. Also the rent may not be increased during a tenancy contract. It can be increased only after the expiry of the previous contract, and therefore the rent is to remain for a period of one year starting from the commencement of the tenancy contract.

Further the Dubai Decree No. 62 of 2009 concerning rental prices in the emirate of Dubai has fixed the maximum increase in the rents of properties in the Emirate of Dubai according to the average rent of properties in the same area and the percentage of the difference between the average rent and the present rent. Thus depending on the difference the increase may be up to the following limit:

i. zero increase of rent in the case the rent is up to 25% less than the average rent of properties of similar specifications;
ii. 5% of the applicable rent in the case the rent is 26% to 35% less than the average rent of properties of similar specifications;
iii. 10% of the applicable rent in case the rent is 36% to 45% less than the average rent of properties of similar specifications;
iv. 15% of the applicable rent in case the rent is 46% to 55% less than the average rent of properties of similar specifications; and
v. 20% of the applicable rent in case the rent is over 55% less than the average rent of properties of similar specifications.
Apart from this the government of Dubai has provided us with an online rental increase calculator on the following website: http://www.dubailand.gov.ae/english/Tanzeem/Rentals/Rental_Increase_Calculator.aspx

The above mentioned website of the government provides for a service to calculate increase percentages in order to obtain rental values in certain areas as a guiding tool. All that the user has to do to use this service is to select the calculator from the website and enter the required details and then he/she shall be provided with the increase cap and average rental for the requested area and unit.

Tips on avoiding an illegal rent hike:

1. Make sure that the landlord has given a notice in writing to you of the proposed rental increase not less than 90 days before the end of tenancy contract.
2. Check that the amount of the increase accords with the RERA rent calculator for your property.
3. If you cannot reach an agreement with your landlord on the amount of the rent increase make an application to the Rent Committee.

Capital Appreciation

Dubai properties have risen by more than 20% in the past 2 years – Dubai property is still set to see estimated growth in excess of 12% per annum

Tax Free

No Capital Gains Tax, No Income Tax or Inheritance Tax

Dubai Property Prices

Dubai properties are still far cheaper than most major cities – if you could invest in London Docklands 10 years ago would you? Yes

Demand vs Supply

85,000 Dubai Properties are being built per year – 52,000 Residency permits are applied for every month! The supply of Dubai properties isnot expected to meet the demand for years to come Dubai property Rental Rates Rental rates in Dubai have increased vastly year on year with increases between 20% – 40% in the last 2 years alone

Tourism

The increase in tourism is clear for everyone to see

1.9 Million Visitors in 2000

5.4 Million Visitors in 2005

15 Million Visitors expected by 2010

Dubai will be a Worldwide destination

Dubai is creating a destination with something for everyone – From beautiful beaches, largest shopping malls in the world to the spectacular Dubailand development, 3 times the size of Disney World in Florida and much much more…

Attractive Exchange Rate

The UAE Dirham is pegged to the US Dollor

Dubai’s Business District

Dubai is the business hub of the Middle East, with a 24 hour stock exchange and Business Bay under way, Dubai’s Manhattan! Offering prime commercial & residential investment opportunities

And then to top it off of course, year round sunshine and a cosmopolitan lifestyle with an array of entertainment options to suit every taste.

Readers who scroll through hours upon hours seeking an answer to the dilemmas of Dubai Real Estate Investing are familiar with its challenges. The United Arab Emirates sits at the coast of the Arabian Gulf with a rich history that is interspersed with trade, oil, industry and property.

This history is surpassed by a future that promises a landscape fit for expansion and investment. But the dilemma of Dubai Real Estate Investing in this region has sparked a great deal of doubt over its feasibility. The time has come to put such matters to ease and declare the UAE as not one of the best, but ‘the best’ place to invest.

To begin with, the UAE has consistently shown its prowess as an investment destination gaining the title of the 13th Most Promising Home Economy for Investment in 2017-19. The region is expected to attract more than $1.8 trillion in global investments in 2018 (a 5% increase from 2017).

Due to its strategic position in the global landscape, it offers the Best Investment Opportunities by Top Real Estate Companies in Dubai. The UAE served nearly 2.4 billion market traders in 2017 within just five hours from recent Thomson Reuters reports.

The region is also the 3rd most attractive investment destination for those in infrastructure.

With more than a hundred smart city initiatives set to take effect as part of an elaborate plan for the upcoming EXPO, opportunities are abound for investors. More than a thousand government services have already been made smart in 2017.

REITs

REIT or Real Estate Investment Trusts in UAE are increasingly gaining commonality. The country’s REIT sector rose sharply in 2017 with a number high profile acquisitions such as the purchase of The Edge, Uninest and South View School by ENBD REIT.

While only representing a small chunk of the sector, they are expected to be a great way for small investors to enter the market.

The Freedom of Freehold Properties

The introduction of the Freehold Properties Decree in Dubai in 2002 was the first platform that allowed foreigners to buy, sell and lease property.

The Decree helped launch multiple projects like the ‘New Dubai’ area comprising of the Dubai Marina, Jumeirah Lake Towers and Emirates Living.

This helped advocate the growth of construction, architecture, engineering and other real estate services. With time, Dubai turned into a global hotspot for investments attracting the best and brightest.

High return on investment (ROI)

The ultimate purpose of any investment is to get more bang for your buck. The UAE commands an ever-flourishing real estate market that grows with its population.

Dubai real estate assets have generated a 120 percent return for investors in the decade since the global financial crisis. The region’s testament is substantiated with property investment in Dubai Real Estate being second only to investment in the Nasdaq Index back then.

During the first quarter of 2017, the Dubai Land Department reported AED77 billion (US$20.9 billion) worth of deals in the first three months of the year, up from AED54.7 billion ($14.89 billion) in January to March 2016.

Data for the same in 2018 showed a similar trend with transactions for the first three months totalling at Dh58 billion through 13,759 sales. This constitutes 9,092 sales transaction worth about Dh19 billion, 3,717 mortgage transactions worth over Dh30.6 billion, and 950 other transactions valued at Dh8.4 billion.

The first quarter also attracted 5,041 foreign investors making more than 5,000 transactions with a total value exceeding Dh10 billion.

All these numbers paint a prosperous picture for the real estate sector in UAE, putting an end to the question of investing or not.

Insurance coverage is some of the best tools available when it comes to risk management. Understanding 3rd party car insurance is essential if you wish to learn about the pros and cons which go along with it. This article will talk about the definition of third party auto insurance as well as the pros and cons that come with it.

Understanding 3rd party car insurance

Third party auto insurance is also referred to as liability coverage. These terms are used to describe a kind of insurance which will pay out a certain settlement to 3rd parties if your vehicle should be involved in an accident. Many countries have laws in place which state that is the minimum quantity of insurance coverage that all car owners need to have. This is because 3rd party car insurance will pay for any and all damage to a third party’s property that is a direct result of any sort of accident involving your automobile.

Various insurance providers have different deals available with regards to 3rd party vehicle insurance. It is up to you to determine which package and just how much coverage will be the best choice. If you choose a low amount of coverage then you may find yourself in a situation where your insurance policy doesn’t cover all costs related to damage to a third party’s property. However, high coverage limitations can cost you a great deal more in monthly premiums.

The Pros Of Third Party Vehicle Insurance

The biggest pro of getting third party vehicle insurance coverage will be the proven fact that you would be financially protected in the event that you are liable to pay for damage inflicted to another’s property as a result of an accident. Your insurance company would settle the total amount owing. If you did not have third party insurance you would then be taken to court and would need to pay for all damage from your bank account. Many people don’t have this kind of cash readily available.

The Disadvantages Of Third Party Automobile Insurance coverage

There’s truly only one notable disadvantage or downside when it comes to third party insurance coverage. This is the fact that many car owners feel like they are paying for something they will never make use of. Actually, numerous car owners are lucky enough never to require this insurance coverage. However, one cannot know when something like a collision or car crash will happen and therefore, you always need to be prepared if you wish to safe guard your own financial situation. In the event that a separate 3rd party car insurance policy is working out to be too costly every month then you should consider shopping around for an umbrella policy. These policies are comprehensive and are made up of some different types of insurance policies but because of the fact that you are opting for a package deal, you’d benefit from a huge saving.

The advantages that come with 3rd party car insurance policies far outweigh any potential disadvantages.