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#COMPLETED: THE TORCH, 84F Res, 338m (Dubai Marina)

3M views 18K replies 486 participants last post by  Burj Khalifa fan 
#1 · (Edited by Moderator)
Name: The Torch
Location: Dubai Marina
Floors: 84
Height: 345 m
Use: Residential

 
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#17,063 ·
Hi Ben, you have rented it at least 20-25 k less as per the current market no matter what view you have..
The current market @ torch is about 120-130K for 2 bhk -- and 140-155 for 3 bhk..If it is fully furnished you can always achieve more as there is a very good demand from British/Western Expats @ Torch...
Let me know if you need any help
Not if your tenant refuses to move out and holds you to Law 13.. Marina rentals can only be increased by a small margin (5%) although they now have the rental calculator that may give a little more. The tenant can refuse to vacate, event at the end of the agreed lease period and also refuse to increase rent more than this amount.. you need to give a year’s notice due to self-use of the property for two years or you are selling, with proof of both!!
 
#17,064 · (Edited)
Abu Dhabi has cancelled the 5% rent increase cap and also the tenant's right to automatically extent the tenancy. It would make sense for Dubai to follow suit and clear the Rent Tribunals of stupid cases and let them focus on real disputes. As this article states, the market should be allowed to operate normally and without government interference.

http://www.emirates247.com/news/emirates/5-rent-cap-in-abu-dhabi-removed-2013-11-21-1.528848

Perhaps if you are at the end of your agreement, you should consider holding off signing anything until you are sure if this will be applied to Dubai also. If you don't agree with rolling over the contract at the previous rate then put this in writing to your tenant and refuse to sign a new tenancy based on the old rates. This will put them on notice that you will enforce an increase or evict them as soon as Law 13 is repealed. The Tribunal will probably only approve back payment of the old rental amount up to the date on which it is repealed.

The watch word is to be realistic, don't be greedy or you will enjoy long void periods.
 
#17,065 ·
Our Neighbour-Cayan Tower

I bought in Bay Central and The Torch both apartments are rented out and into there second year with tenants extending thank goodness because despite injecting huge amount of capital these units still don't "grease their own wheels" and were becoming a problem for me.

Was just looking at the Cayan tower which no doubt wil become the iconic tower of the Marina . must admit feel rather jealouse of the interiors here as this is what I was expecting in my two units- instead of the cheap EVERYTHING that we were given.
does anybody know the rental yield for this development versus ours I notice the rentals seem to be another 50% above our units- trying to make some comparisons . thanks
 
#17,079 ·
IS THIS THE PLOT IN FRONT OF THE TORCH?

March 27 2014 - Select Group launches new development
The Residences at Marina Gate is latest luxury flagship development from Select Group
Dubai: Dubai based property developer, Select Group, announces a new development for Dubai Marina - the Residences Marina at Gate. Occupying one of the Marina's last remaining plots, the new development represents a final opportunity to purchase luxury waterfront property in one of the most desirable communities in UAE.

Select Group's CEO, Rahail Aslam said, "We are proud to announce our latest residential development project, The Residences at Marina Gate. The AED 3 billion the three tower project represents our tenth, eleventh and twelve residential development in the Marina and with such a prime positioned piece of land it looks set to become the most sought after address in the Marina area".

Marking the northern entrance to the towering marina community, The Residences at Marina Gate is a triumvirate of residential towers at the original gateway to Dubai Marina. The development will make a 'piece du resistance' addition to the Select Group's already budgeoning UAE portfolio.


Aslam continued, "Marina Gate overlooks the Marina, the sea or the cityscape and is one of the last available locations on the waterfront of Dubai Marina. Therefore, it represents an exclusive opportunity to purchase a new property in this prestigious location".
 
#17,080 ·
Yeap this is being built on the plot in front of the Torch.

No more info on the design yet though!

March 27 2014 - Select Group launches new development
The Residences at Marina Gate is latest luxury flagship development from Select Group
Dubai: Dubai based property developer, Select Group, announces a new development for Dubai Marina - the Residences Marina at Gate. Occupying one of the Marina's last remaining plots, the new development represents a final opportunity to purchase luxury waterfront property in one of the most desirable communities in UAE.

Select Group's CEO, Rahail Aslam said, "We are proud to announce our latest residential development project, The Residences at Marina Gate. The AED 3 billion the three tower project represents our tenth, eleventh and twelve residential development in the Marina and with such a prime positioned piece of land it looks set to become the most sought after address in the Marina area".

Marking the northern entrance to the towering marina community, The Residences at Marina Gate is a triumvirate of residential towers at the original gateway to Dubai Marina. The development will make a 'piece du resistance' addition to the Select Group's already budgeoning UAE portfolio.


Aslam continued, "Marina Gate overlooks the Marina, the sea or the cityscape and is one of the last available locations on the waterfront of Dubai Marina. Therefore, it represents an exclusive opportunity to purchase a new property in this prestigious location".
 
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