Seven Tides supports tenants with rent-free periods as Dubai property market rebounds

Luxury residential and hotel developer Seven Tides has announced attractive new rental rates, including rent-free periods for new tenants at Discovery Gardens and The Residences at Ibn Battuta Gate.

“This promotion represents exceptional value for potential tenants,” said Abdulla bin Sulayem, CEO of Seven Tides. “According to ValuStrat analysts, rental prices for apartments in Dubai increased by more than 14% in 2021 as Dubai emerged from the lingering effects of the pandemic.

“Many real estate professionals believe the outlook for 2022 is also positive, with apartment rental rates expected to increase by 5-7%, surpassing pre-pandemic levels,” he added.

New tenants looking to rent apartments in Residences at Ibn Battuta Gate can now rent a 700 sq ft one bedroom apartment with balcony, from AED 61,000 or alternatively a two bedroom apartment from 1,027 1,173 square feet with balcony, from AED 82,000 up to AED 92,000. Both prices are spread over 13 months and include utilities, cooling costs, Wi-Fi and cable TV. A furnished option is also available.

Renters can also take advantage of a 25% discount on food and beverages at the adjacent five-star hotel Oaks Ibn Battuta Gate Dubai. Additionally, the Ibn Battuta Mall, the world’s largest themed mall with nearly 400 stores as well as a multi-screen cinema and full food court, is just steps away.

Residences at Ibn Battuta Gate attract a wide range of nationalities, with Arab nationals representing 20%, British 16%, Indians 15% and Filipinos 13%, while 36% of tenants are represented by other nationalities.

At Discovery Gardens, new tenants can get a one-bedroom apartment with a balcony for just AED 48,000 spread over 13 months, including cooling costs. Seven Tides owns ten buildings within the community, with a total inventory of 1,528 apartments in a contemporary residential setting, offering a cosmopolitan lifestyle. It is conveniently located, with its own metro station and easy access to JLT and Dubai Marina.

When it comes to lifestyle choices, Discovery Gardens offers a wealth of swimming pools, tennis courts, children’s play areas, basketball and volleyball courts, as well as a mosque and trails. for cycling and jogging. It is extremely popular with Indians, Filipinos and Pakistanis who make up 82% of the tenant mix.

“The current occupancy level at Discovery Gardens is 99%, so there are very few units left,” added bin Sulayem.

About the Seven Tides

Headquartered in Dubai, United Arab Emirates, privately held Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on the hospitality and real estate sectors, Seven Tides think progressively, work creatively , partners strategically and acts quickly. The result is a current portfolio of offerings ranging from hotel acquisitions and landmark commercial buildings to residential towers and mixed-use complexes in the hub cities of London and Dubai.

For more information, visit: www.seventides.com