Emaar, one of the largest Dubai-based real estate companies, is offering a trade licence to buyers of the 184 units it is currently developing at the Dubai Hills Estate. The project is primarily targeted at entrepreneurs and small businesses that opt to work from home or require home-based offices.
Emaar has signed an exclusive agreement with the Dubai Multi Commodities Centre (DMCC) to offer a three-year renewable trade licence worth AED130,000 to buyers putting down a 20% deposit of the asking price.
In addition, owners will benefit from 100% business ownership, a free three-year renewable family residency visa and the option to apply for an employment visa on the basis of the business licence.
Generally business owners are required to produce an office tenancy contract in order to obtain a trade licence. This package therefore does away with the need to rent office premises. Buyers simply have to produce their Ejari certificate, which is issued upon payment of the deposit.
This first-of-a-kind offer will allow investors the freedom to operate their own business from home, which will be very attractive to families with young children in particular.
According to Emaar, a one-bedroom apartment costs below AED 1 million, while two-bedroom apartments range from AED1.3 million to AED1.6 million. The development is scheduled for completion by 2021.
For more information on this and other DMCC establishments, contact Sovereign.