Dubai South offers rent-to-own scheme for tenants

Prospective residents of Dubai's new city, Dubai South, now have an exceptional opportunity to avail of a 10-year "rent-to-own" scheme at one of its residential districts - The Pulse.

Developer Dubai South Properties said that the offer, which is tailor-made for new tenants at The Pulse, has been made in response to evolving market needs.

The scheme offers affordable and flexible solutions to tenants to own their house in ten years in the emerging 145sqkm city by just paying their rents. Without making any down payments, tenant-buyers can opt to make quarterly payments towards their unit, while living in it, which will contribute towards full ownership after a period of ten years, the master developer said in a statement.

The offer is part of Dubai South's commitment to facilitate affordable and flexible solutions to residents.

"With easy exit terms and no commitment to purchase, the scheme helps put individuals on the property ladder without the initial financial outlay typically required. Furthermore, those choosing to avail the offer will receive two months of free rent at the start of their contract," the developer said.

Mohammed Al Awadhi from Dubai South Properties, said the new city is committed to supporting its growing business and residential community by offering them flexible and enabling solutions. "Given the current environment, we are highly conscious of the challenges faced by many and have created a scheme that gives tenants the assurance of owning their own property without any major up-front investments."

Dubai South, the rebranded Dubai World Central, said its residential district has already proven to be a popular locale for those working in the area, particularly with the promising Expo 2020 development located just five minutes away.

The purpose-built city also encompasses Al Maktoum International Airport, designed to be the world's largest airport when fully operational.

"With the launch of its flagship development, The Pulse, demand has continued to grow, with more than 800 apartments and townhouses already handed over. Lined with lush green walkways, jogging and cycling tracks, and offering eight gyms, eight swimming pools, and a central park, The Pulse is the ideal place for young professionals and families to live, work, and connect," said the statement.

Residents at Dubai South - home to a community of freehold or leasehold residential, commercial, office, and retail properties - will also be able to enjoy a vast range of retail outlets, starting with Grand Express Supermarket, which opened its doors in June 2020.

Source: Khaleej Times