Archive for December, 2009
Dubai Maritime City Another World First In Dubai
Described as the world’s first purpose built maritime centre Dubai Maritime City is a state of the art development zone designed to act as a regional hub for the maritime business in Dubai. A genuinely mixed use development Dubai Maritime City will also offer a range of luxury residential and commercial opportunities ensuring that the area becomes a focal point for the near 5000 regional maritime companies working in Dubai. As well as the residential industrial and commercial areas the development will also include a large maritime research academy designed to offer the companies in the regional access to the very latest developments and technology within the marine industry.
The development itself will be strategically located between the Dubai Dry Docks and the Port Rashid development. Covering over two square kilometres Dubai Maritime City will offer its residents spectacular views over the clear blue waters of the Arabian Gulf. Connected to the mainland by a causeway it only seems fitting that the worlds leading marine development will be built on land which has been reclaimed from the waters of the Gulf. A genuine superstructure in engineering terms it is estimated that the Dubai Maritime City will consist of over 30 million cubic metres of dredged sand and over 2.5 million cubic metres of rock on its completion.
As with many of the free zone development areas in Dubai Maritime City is designed to create a regional hub of sector specific companies. Within the development there will be a focus on six major sectors within the maritime industry: marine services marine management product marketing marine research and education recreation and ship design and manufacturing. The only facility of its kind in the world Dubai Maritime City seems set to become a global ‘centre of excellence’ for the maritime industry.
As well as the focus on the marine industry there will be a wide range of residential property in Dubai Maritime City. Already developers have started to announce major projects such as the Iris Mist and the recently launched Admiral Bay within the Harbour Residences area of the development. True flagship residential projects the property in Maritime City is made up of predominantly highend luxury apartments which offer stunning views over the Arabian Gulf.
With innovative and unique projects such as the Dubai Maritime City Campus and the Maritime Centre already launched it is highly likely that more exciting projects will be announced in the development over the coming months. With demand for commercial and residential property in Dubai reaching an all time high it is likely that the property in Dubai Maritime City will be in high demand.
About the writer: Mark Burns is a Partner at PropertyDubai.tv a real estate consultancy specialising in Dubai Real Estate and property in Dubai Maritime City.
Do You Need A Quick Home Sale? Follw These Steps
Regardless of the reason you need your home to sell quickly there are several things you can do to increase the odds that your home will selland sell quickly!
Implement these commonsense strategies start showing your home and get ready for the offers to start coming in!
1.First clear out all the clutter! At the risk of sounding callous prospective homebuyers dont want to see all your junk admire your collectibles or wonder what the house really looks like underneath a bunch of stuff. So clear it all out. If necessary pack everything into boxes and put them into a rental storage unit!
2.Clean like crazyor hire a professional cleaner to get your house spic and span! Filthwhether it is an accumulation of dust on baseboards mildew in the bathroom or water spots on mirrorsis a huge turnoff and can have potential buyers running away! Eliminate all the dirt and let the true beauty of your home shine through! And dont overlook cleaning up the basement the garage and the front and back yards too!
3.If its broke fix it! Take a good look around and make a list of everything in or around your home that needs to be repaired. Nails protruding from a step tread? Pound them down. Broken window pane? Replace the glass. Screen with a hole in it? Broken railing? Loose downspout? Repair them. Take care of anything and everything that is in disrepair before you put your house on the market.
4.If its stained or just plain worn out replace it! One of the biggest turnoffs to potential homebuyers knowing they will need to replace something as soon as they purchase a home to make it livable and acceptable to them. Most homebuyers dont want the hassle delays or added expense of making immediate replacements! So take a look at your home with a strangers eye and replace stained or warn carpets and ruststained or chipped kitchen or bathroom fixtures.
5.Rethink your dcor stage for a sale and repaint if necessary! Most people have a very personal taste and decorate their homes to their individual liking. But homebuyers dont want to buy your decorating style. They want to purchase a home they can visualize their things in. So remove any distinctive dcor items that may date your home unfavorably or furniture and accessories that suggest your home isnt movein ready for a new owner. Sometimes this will require renting more current or stylish furniture and putting your outdated stuff in storage until your home sells. Stage your homerather than living in it while it is on the market. Make sure it is always ready for an impromptu showing. Remove personal photos and extra stuff from the walls to create visual space repair screw or nail holes and repaint the rooms in neutral or more modern colors.
Admittedly adopting these fastsale strategies may cost you a few dollars and require some additional work up front but in addition to helping you make a faster sale most of these commonsense strategies will also net you a higher selling price!
About the writer:nbsp;nbsp; Sell My House I hear you say? Dale Purdon buys houses for immediate cash. Ideal for selling property when facing repossession of your home.
Dont Miss On Claiming The VAT Back On Your Bulgarian Property
May property investors have ventured on buying properties in Bulgaria with a clear business idea in mind. It has been about 80 of the cases that the customers have expressed the intention to use the property for their holidays for a couple of weeks and have it rented for the rest of the time generating some profit.
The idea is absolutely viable. What many people do not realize is that actually what they are auctioning is a legitimate business and properly set up it can generate some significant tax benefits. An area that should be considered by anybody when purchasing a holiday property is the VAT implication.
If you are buying from a developer that in effect is a business entity you are being charged VAT tax. In Bulgarian case it is 20 and is a substantial part of the total price of the purchase. If you buy it in a personal name you are becoming the final consumer in the VAT sequence and as such you are the one who absorbs the VAT. However if we assume that you are going to be using your property to do business with then you by law need to set a company that this business should operate through. If we go further and get your business VAT registered then it is absolutely legitimate that you claim the VAT that you have paid to the developer to acquire the property.
The scheme sounds nice and easy but it also has downsides. Being a VAT registered business any profits that derived from the property is going to be Vatable. In other words the rent that you are going to be receiving will have to include 20 VAT payable to the government. Furthermore the administration of the VAT process requires a professional accountant that deals on a daily basis with your business. For some investors it may be also too late. Once you have transferred the ownership of your property in your name you have already paid the VAT to the government and the VAT claim is not an option anymore.
As per the above it is obvious that the VAT claim is not beneficial for all the Bulgarian property buyers. In many cases especially when the nominal value of the purchase is low then the expenses in claiming the VAT may outstrip the potential gains which make the whole exercise ineffective. However for people who have purchase properties with substantial value and especially those with more than one property it is very advisable to look into the idea closely.
As a conclusion if you are a property investor in Bulgaria do not hesitate and contact your accountant you may be very pleasantly surprised to understand that you can have 20 of the investment back in your pocket.
About the writer:nbsp;nbsp;Real Estate investor author trainer.Helping others profit from the recession at www.BeARealEstateHeavyweight.com
