Home / NEWS / Sobha offers discount on DLD fees for Emiratis

Sobha offers discount on DLD fees for Emiratis

by Jochebed Menon on Feb 6, 2017

Emiratis can avail a discount of 2% while investing in Sobha Hartland.
Emiratis can avail a discount of 2% while investing in Sobha Hartland.

Real estate developer Sobha Group has announced an offer only for Emiratis to avail while investing in a property at Sobha Hartland on the Dubai water canal.

The offer will allow Emirati nationals to get a 2% Dubai Land Department (DLD) fees waiver when they book homes directly with the developer for Sobha Hartland.

Emiratis can avail special prices on these properties only during the day of the event in Dubai and Abu Dhabi on 11 February, 2017.

Emirati investors will have an option of either choosing from a range of studios, apartments, duplexes, villas, or quad homes and can avail of the special payment plan which will allow them to pay: 50% during construction, 10% on completion, and 40% over two years of handover.

According to the latest DLD report the total value of property investments recorded in Dubai for 2016 has been $70.5bn (AED259bn).

The leading investors were UAE nationals, GCC nationals, Arabs, and foreigners, for their investment of nearly $6bn (AED22bn) from more than 7,000 investors.

Sobha Group lists Emiratis as the second largest investors in their projects. To strengthen the relationship with Emirati investors, Sobha Hartland is offering special prices and DLD fees waiver.

Sobha Group currently has three projects under construction, two of which are located at prime locations in Dubai and are expected to be completed by 2020.

The group recently announced the launch of Hartland Estates Quad Homes along the Dubai Water Canal.

PNC Menon, founder and chairman, Sobha Group, says: “We are pleased to extend this exclusive offer of DLD waiver and special prices for one of the largest buyers in the UAE – Emiratis.

“We are upbeat about an imminent market upswing despite an overall slowdown in economy in the Middle East and lower oil price as investors and end users from more than 50 countries continue to record their vote of confidence in Dubai.”