Donna Towers

As a free zone property Donna Towers is significantly better than ‘freehold ‘commercial property due to the following reasons:

Key Features

The Concept

Freehold properties are designed with residences in mind. Free zones are designed with businesses in mind and are therefore more business-friendly.

100% foreign ownership

Freehold commercial property may be yours, but would still require a local partner. In others words, in a free hold office you own the property, but do not own the business 100%. This is a major advantage in free zone property, you own the property for 99 years, but the business is yours – 100%.

Visa

Freehold properties only facilitate a residency visa. You will need a separate work permit to legally work in Dubai. On the other hand, a free zone visa is a business visa and the eligibility of the number of such visas is proportional to the area of your office (you would need an absolute minimum of a 50 square metre office to claim such visas, the smallest office CBC is well above this limit).

One-Stop-Shop

Freehold properties do not offer added value for businesses. Free zones often single window transactions. Everything you need to open a business can be transacted from one point within the free zone office. This includes company registration, visa, HR, etc.

Capital Appreciation

Free zone properties are presently more competitive than other properties. The Dubai Silicon Oasis free zone comes under the direct purview of Dubai’s ruling family and is expected to rapidly outgrow other business centers in future potentials, stability and business efficiency. Capital appreciation can safely be expected to be the maximum among all regional free zones as a collective result.

Warranties / Guarantees

The property is covered under the DLP (Defect Liability Period) for a period of one year from the completion of construction. This includes all mechanical, plumbing and electrical works. CSL (Civil Structure Liability) is offered by the contractor for a period of 10 years.

Insurance

Building insurance structures are covered by Statutory Law for a period of ten years. All other insurances are responsibility of property owner.

Ownership in Dubai Silicon Oasis

The law in Dubai allows non-UAE citizens to purchase the property. In Dubai Silicon Oasis they will be given the right to acquire on 99 years leasehold property.

Escrow Account Protection

The Escrow Account law protects the purchase, providing security to the buyer by allowing government agents to monitor the existence of the building and the construction status and at the same time the seriousness of the developer company.

House prices in Dubai are lower than other metropolis with equal wage level. The HSBC survey on house prices, by referring to the GDP per capital, has shown Dubai as a city with the lowest GDP PC /average wages.

This is a historical anomaly that will be eliminated by the natural increase in prices, which are expected between 2010 and 2015.

The government of Dubai turned out to be the most active from UAE because of the economic development and the recent regulatory legislative initiatives suggest a strong interest in supporting this development for a long time.

The current absence of taxes in Dubai is transforming the country into a new “world safe-box”, as has happened in the past to Monaco, Singapore and Panama.

Escrow Account - A law that protects the investors

Since 2007 the government of Dubai has implemented the Escrow Account Law (DL No.8 of 2007), in order to protect those who decide to invest in the emirate.

A law that requires the developer provide the certificated state of constructions progress, as an evidence of the actual development of the project, and the developer must deposit the investors’ payments into an account with access restricted by the authorities.

Furthermore, 5% of the construction value must remain in the deposit account for 12 months, in order to guarantee the completion of the work, to ensure the proper implementation of the final work.

The constructor that will not provide the necessary guarantees, will not be allowed to build. Seasif, on the contrary, will get more and more power thanks to the enormous capital and trust earned on the field with the projects already built in Dubai.