Minute with Elysian

We are proud to launch the newest feature to our website called “A MINUTE WITH ELYSIAN” –a variety of videos, hosted by one of our top agents Maral Khalili, geared to educate buyers and sellers on the various steps involved in purchasing and selling properties in Dubai. No longer should you have uncertainty about the real estate market in Dubai. These simple videos will help clarify your frequently asked questions.

RERA Launches Service Charge Index

rear service charges

Dubai, UAE :- The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), has announced the launch of the first Service Charge and Maintenance Index for properties within Dubai’s freehold areas.

Designed to be applied to services areas and common spaces and be under the management of owners associations and property developers, the Service Charge and Maintenance Index is one tool in a range of e-services that DLD has launched at GITEX, the technology exhibition currently underway at the Dubai World Trade Centre, to improve government services and to encourage investment in the emirate’s real estate sector.

“The launch of the Service Charge and Maintenance Index enables landlords and property investors in Dubai to know the service charges and fees that are paid for each project. It represents a necessary step in light of the diversity of the emirate’s real estate offerings to expand the scope of e-services that we offer to our clients and ensure the maximum possible level of convenience and transparency,” said Mohammed Khalifa bin Hammad, Senior Director, RERA.

The Service Charge and Maintenance Index is based on accurate data audited by RERA, with the information being verified with owners associations and real estate developers. The Index has been divided into four main categories of residential property: apartments, offices, shops and villas and the level of service and maintenance charges is determined by a Dirhams-per-square-foot formula.

The Service Charge and Maintenance Index is updated directly via an e-link with ‘Mollak,’ a system that has been developed specifically to assist property developers and owners associations in complying with all RERA registration and management requirements. The information is derived through audits carried out by RERA on service charges and maintenance fees before the owners associations and developers claim the charges from the property owners.

Through access to the link via the DLD website, the user can receive answers about maintenance and service charges to be paid for a particular project. The system, which has recently been introduced onto the website, is easy to use, with the user asked to choose the project area from the list of given areas and then enter the type of project and its year to receive information on the applicable fees.

RERA has been able to audit the service charges and maintenance fees of 420 projects, with the current number of developments currently available in the Index numbering 300. The Index includes properties located in 22 major development projects; notably: Business Bay, Dubai Marina, Jumeirah Beach Residence, Jumeirah Lakes Towers, International City, Motor City and Silicon Oasis.

“Since its inception, the Service Charge and Maintenance Index has covered a wide range of areas of development in Dubai and we are working hard to include even more projects. In the near future we aim for the Index to cover all of the emirate’s urban areas and provide this service to all our customers,” added Bin Hammad.

DLD is developing and introducing a comprehensive array of electronic services that are compatible with the Dubai government’s vision for being the world’s smartest city within three years. The department is enhancing its initiatives to reduce the time and effort involved in checks and other routine procedures that take up so much of their customers’ time, especially in light of the existence of Dubai’s electronic infrastructure and the proliferation of smart devices in the region.


Source Gulf Property

Elysian Wins Brokerage Firm Honorary Award from Dubai Land Department and RERA

Award winning real estate agencyPress Release:

Elysian Wins Brokerage Firm Honorary Award from Dubai Land Department and RERA

Dubai-UAE: 09 October, 2014 - Elysian Real Estate, a leading Dubai-based integrated brokerage agency won the debut Brokerage Firm Honorary Award from Dubai Land Department (DLD) and Real Estate Regulatory Agency (RERA). Recognized in the award category ‘Top 5 Brokerage Organisation in the Dubai Real Estate Market’, Elysian stood third among the 2,205 active agencies who vied for the position. The announcement was made during the thirteenth edition of Cityscape Global held at Dubai World Trade Centre in September.

Presented by His Excellency Sutan Butti Bin Merjen, Director General of the DLD, to Masood Naseeb the CEO of Elysian Real Estate, the award recognized the agency’s policy of maintaining absolute integrity to the rules and regulations set by authorities while contributing actively to the sustained growth of real estate market in the region.

The Brokerage Firm Honorary Award was introduced this year by DLD and RERA to recognize the contributions of individual agencies to the region’s growing property market. DLD also supported and jointly hosted Real Estate Brokers Summit (REBS) during Cityscape Global 2014 ‘to drive the ethical and successful practice of real estate brokerage’.

Dounia Fadi, Managing Director of Elysian Real Estate said: “We are proud to receive this great honour from DLD and RERA, which validates the passion and commitment we have brought to real estate sector since 2006. Since its inception, Elysian has provided comprehensive, best in class services to our clients, and we shall continue to do so with renewed vigour.”

“Dubai has carved a niche for itself in the global property market attracting investors from across the world, and we are extremely pleased to be a part of its success story. It is also commendable that the authorities are now taking firm steps to encourage and educate agencies about ethical real estate brokerage practices, as is evident from initiatives such as REBS. Such platforms are sure to add to the stability and credibility of the market, cementing Dubai’s position as a coveted investment destination,” Fadi added.

Over the years, Elysian has earned a reputation for providing first rate services to its spectrum of customers, with offerings ranging from studio and single bedroom apartments to villas and townhouses. Among the many factors considered by the awards committee was Elysian’s end-to-end real estate brokerage services that cater to the interests of both the investor and the tenant, including 24/7 helpline, current market analysis, consultation and advice services as well as home loans assistance.

Elaborating on the agency’s policy of providing integrated property solutions to local and international customers, Dounia Fadi added: “At Elysian, we take pride in understanding the individual requirements of our clients, regardless of whether they are end users or investors. This ensures that the solutions we provide are holistic, bespoke and exceed expectations.”

Having established itself as a market leader in its class, Elysian is now expanding its services to include a leisure luxury vertical catering exclusively to the requirements of high net worth individuals from across the globe.

Dubai Real Estate Transaction Values for Q1 2014 Up 38% From Last Year

The Dubai Land Department (DLD) announced 12 April 2014 that the total value of real estate transactions in Dubai for Q1 2014 exceeded AED 61 billion, made up of 15,694 transactions across AED 31.5 billion in sales and AED 38 billion in mortgage transactions. This is a 38% value increase over Q1 2013 which saw a value of AED 44 billion. Total transactions increased by 11% when comparing Q1 2014 to Q1 2013 which shows a sharp increase in the value per transaction.

Sultan Butti Bin Merjen, Director General of DLD, has said of these results, “The results of the first quarter 2014 reflect the renewed investor confidence in Dubai and specifically, in the city’s real estate sector, which is considered an integral component of the national economy. We expect the next three quarters to be similarly as active, especially as this period follows the launch of a number of stimulating economic projects in Dubai and the disclosure of some of the preparations for the city’s hosting of Expo 2020.”

“The figures issued by DLD’s Real Estate Sector Development Department confirm the increased activity in the city’s real estate sector. They prove that Dubai is attracting property ownership, whether for long-term investment or for personal housing needs. We anticipate this heightening of activity to continue over the coming years, with property buyers achieving good returns on their real estate investments. We believe that these returns will be significantly greater than those from other economic sectors,” added Bin Mejren.

The statistics showed that there were 11,567 sales activities worth a total of AED 31.5 billion and 3,482 mortgage transactions, worth over AED 28 billion. Other categories accounted for AED 1.7 billion from 636 transactions, making the total value of transactions in all categories more than AED 61 billion.

Sales and mortgages relating to land transactions accounted for the bulk of the total figure, with land mortgages valued at AED 24.1 billion and land sales AED 17.4 billion. Sales and mortgages of residential units were worth AED 13 billion and AED 3.1 billion respectively. Buildings transactions came in at third place for activity, with sales registering AED 946 million and mortgages AED 810 million. In total there was an 81 percent increase in the number of investors compared with the number from the first quarter of 2013.

DLD’s report revealed that Al Hibiya 3, Dubai Marina and Al Thenaya Al Rabe’a were the most attractive areas for selling land, buildings and residential units. Al Thenaya Al Khamesa was in top place for land mortgages and Thenaya Al Rabe’a placed highest for building mortgages.

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