Ready-to-move properties
Olympic Park 4
$329,400
Property type:2 bedroom
Projected cash-on-cash return:6,5%
District:Dubai Sports City
Developer:Gulf General Investments
Class of the property:"C"- Class of the district:"C"
Rating Masterpiece:3★
Completion date:2013
Income guarantee:Unavailable
Window view:City, Park
About district
Location
- DistrictDubai Sports City
Dubai Sports City (DSC) is a mixed-use development in the southern part of Dubai which has a total area of 470 hectares. DSC is famous for its large-scale sports facilities, including the 25,000 seat Dubai International Cricket Stadium.
The area is a combination of residential, shopping, entertainment and recreational facilities. Even though the project was developed primarily for individuals who enjoy an active lifestyle, it definitely caters to everyone, no matter your stance on exercise. DSC has gorgeous green areas with beautiful water channels and a comfortable setting that will suit both couples with children and singles.
In Dubai Sports City, the residential real estate is represented by three large complexes: Canal Residence, Victory Heights and Gallery Villas, with all of them consisting of apartment buildings, townhouses and villas. Housing prices in these areas are more affordable in comparison to some of the other popular areas of the emirate. The project is based on, and promotes a healthy lifestyle and environmental friendliness, with elements like solar-powered lighting in all complexes to help reduce carbon emissions. Dubai Sports City belongs to a freehold zone, which means foreigners can buy property here and have full ownership rights. Its residential buildings correspond to the general concept of the “sports district”, as they’re all equipped with everything necessary for an active lifestyle like gyms, swimming pools and other sports and lifestyle facilities.
The area is a combination of residential, shopping, entertainment and recreational facilities. Even though the project was developed primarily for individuals who enjoy an active lifestyle, it definitely caters to everyone, no matter your stance on exercise. DSC has gorgeous green areas with beautiful water channels and a comfortable setting that will suit both couples with children and singles.
In Dubai Sports City, the residential real estate is represented by three large complexes: Canal Residence, Victory Heights and Gallery Villas, with all of them consisting of apartment buildings, townhouses and villas. Housing prices in these areas are more affordable in comparison to some of the other popular areas of the emirate. The project is based on, and promotes a healthy lifestyle and environmental friendliness, with elements like solar-powered lighting in all complexes to help reduce carbon emissions. Dubai Sports City belongs to a freehold zone, which means foreigners can buy property here and have full ownership rights. Its residential buildings correspond to the general concept of the “sports district”, as they’re all equipped with everything necessary for an active lifestyle like gyms, swimming pools and other sports and lifestyle facilities.
Statistics by district
Unit cost
Sales price
Unit cost
Sales price per sqft
About developer
Gulf General Investments
Gulf General Investment Company (GGICO) is one of the pioneer Property Developers in Dubai. The freehold division holds an excellent track record for delivering some of the most iconic developments in the UAE, and is currently involved in developing new projects to further enhance the city’s skyline.
These include 21 projects under design and construction phase, available for freehold and rent, for a total project cost of approximately AED 11 billion
These include 21 projects under design and construction phase, available for freehold and rent, for a total project cost of approximately AED 11 billion
About building
About Olympic Park 4
Olympic Park 4, situated in Olympic Park, Dubai Sports City, is among the four mid-rise buildings within this apartment complex. The main project enjoys a convenient location near both the Dubai International Stadium and Els Club. Additionally, it is encompassed by a variety of fitness and sports amenities such as sports courts, clubs, playgrounds, training pitches, and jogging tracks.
The complex includes state-of-the-art facilities such as a fitness center, pool, tennis and squash court, and children's playgrounds. Within walking distance, residents have access to The Els Club Golf Course and the David Lloyd Tennis Academy. Additional amenities for residents include a rooftop relaxation area, underground parking, and concierge services.
The complex's location is convenient for quick access to the city's main attractions. Within a 20-25 minute drive on Sheikh Zayed Road, residents can reach the Dubai Marina area, the famous JBR beach, the large Dubai Mall, and Burj Khalifa.
The complex includes state-of-the-art facilities such as a fitness center, pool, tennis and squash court, and children's playgrounds. Within walking distance, residents have access to The Els Club Golf Course and the David Lloyd Tennis Academy. Additional amenities for residents include a rooftop relaxation area, underground parking, and concierge services.
The complex's location is convenient for quick access to the city's main attractions. Within a 20-25 minute drive on Sheikh Zayed Road, residents can reach the Dubai Marina area, the famous JBR beach, the large Dubai Mall, and Burj Khalifa.
Features / Amenities
Covered parking
Rooftop swimming pools
Gym
Spa
Tennis court
Basketball courts
Children’s playgrounds
Nearby shops, stadiums, and sports grounds
Security services and video surveillance
Apartment
Floor Plans
2 bedroom / 1417 sqft
$329,400
Process of purchasing
Process of purchasing property
Payment of 10% deposit to receive a memorandum
During the initial stage, it is necessary to make a deposit of 10% of the property value to confirm your seriousness and readiness to proceed with the purchase.
Your deposit will be transferred to us and held until the completion of the final settlements and registration of the transaction with the Land Department.
This is to ensure your confidence in receiving a refund of the deposit in case the deal does not proceed at the seller's initiative. If the deal falls through due to your fault, your deposit will be transferred to the seller as compensation.
The deposit can be made in one of the following ways:
Please contact Buyer B and our company through this link: link to file
During the initial stage, it is necessary to make a deposit of 10% of the property value to confirm your seriousness and readiness to proceed with the purchase.
Your deposit will be transferred to us and held until the completion of the final settlements and registration of the transaction with the Land Department.
This is to ensure your confidence in receiving a refund of the deposit in case the deal does not proceed at the seller's initiative. If the deal falls through due to your fault, your deposit will be transferred to the seller as compensation.
The deposit can be made in one of the following ways:
- Payment to the company in Dubai
- Check
- Cash in Dubai
- Payment in cryptocurrency (USDT)
- Passport
- ID (if available)
- Phone number
Please contact Buyer B and our company through this link: link to file
Acquiring a No Objection Certificate (NOC) from the developer for selling your property, which is necessary for registering the transaction with the Dubai Land Department
A No Objection Certificate (NOC), or permission from the developer, is a notification that confirms that the seller has no outstanding dues to the developer. The process of obtaining this permission for selling the property can vary in duration, typically ranging from one day to two or three weeks, depending on the specific construction company.
Once you have obtained this permission from the property seller, you will be able to officially transfer the property you are acquiring.
A No Objection Certificate (NOC), or permission from the developer, is a notification that confirms that the seller has no outstanding dues to the developer. The process of obtaining this permission for selling the property can vary in duration, typically ranging from one day to two or three weeks, depending on the specific construction company.
Once you have obtained this permission from the property seller, you will be able to officially transfer the property you are acquiring.
Finalizing the sales agreement, which outlines all the transaction details
The agreement for purchasing and transferring the property is processed through the official online portal of the government and will be sent to you via email for your electronic signature.
There is no requirement for notarizing real estate transactions in the UAE, as a simple written form is sufficient.
The sales agreement for the property should include the following points:
MOU - Final Sales Contract: link
The agreement for purchasing and transferring the property is processed through the official online portal of the government and will be sent to you via email for your electronic signature.
There is no requirement for notarizing real estate transactions in the UAE, as a simple written form is sufficient.
The sales agreement for the property should include the following points:
- The specific property being sold,
- The total cost of the property being acquired,
- Any additional payments related to the transaction (such as agent's commission, payments to the developer, registration fees with the Land Department, reimbursement of pre-paid expenses for maintenance, etc.),
- The time limit for completing the sales transaction,
- The deadlines and procedures for making payments,
- The responsibility of the parties in the event of failure to comply with the contract terms.
MOU - Final Sales Contract: link
Registering Property in the New Owner's Name at the Land Department.
Calculations are Done During Registration
The Dubai Land Department maintains an electronic property registry. When you and the seller apply to register the transfer of ownership rights, you will receive a Title Deed certificate immediately. This certificate will confirm your ownership rights to the property you have acquired.
Title Deed: Link to Title Deed
To complete the registration process with the Land Department, you must provide the following documents:
The registration of the property for the new owner is conducted offline at the Land Department. If you are unable or prefer not to be present at the Land Department for the registration process, you have the option to authorize our agent through a notarized power of attorney. The fee for online notarization of the power of attorney is $700. During the property registration process, you and the seller will need to settle the final payments for the sales transaction. Before issuing the registration certificate, the government registrar will ask both you and the seller to make mutual settlements and sign a document confirming that the seller has no claims regarding payment for the property. Typically, settlements are made by transferring pre-prepared bank cheques from you to cover the required amounts. If you do not have a bank account in Dubai and are unable to issue a bank cheque, we can assist you. You have the option to make settlements with us in any convenient form, such as cash or cryptocurrency.
Calculations are Done During Registration
The Dubai Land Department maintains an electronic property registry. When you and the seller apply to register the transfer of ownership rights, you will receive a Title Deed certificate immediately. This certificate will confirm your ownership rights to the property you have acquired.
Title Deed: Link to Title Deed
To complete the registration process with the Land Department, you must provide the following documents:
- Original passports of both the buyer and seller.
- Original property registration certificate under the seller's name.
- Original No Objection Certificate (NOC) issued by the developer, allowing the property sale.
- Copy of the sales and purchase agreement.
The registration of the property for the new owner is conducted offline at the Land Department. If you are unable or prefer not to be present at the Land Department for the registration process, you have the option to authorize our agent through a notarized power of attorney. The fee for online notarization of the power of attorney is $700. During the property registration process, you and the seller will need to settle the final payments for the sales transaction. Before issuing the registration certificate, the government registrar will ask both you and the seller to make mutual settlements and sign a document confirming that the seller has no claims regarding payment for the property. Typically, settlements are made by transferring pre-prepared bank cheques from you to cover the required amounts. If you do not have a bank account in Dubai and are unable to issue a bank cheque, we can assist you. You have the option to make settlements with us in any convenient form, such as cash or cryptocurrency.
Management
How can we effectively manage real estate to achieve a return?
The initial and crucial step in transferring an apartment to our management is to sign a three-year cooperation agreement. This agreement outlines the specific conditions to be followed and establishes the monthly payment amounts that you will receive.
Furthermore, the agreement specifies the preferred method of payment to ensure your utmost convenience when receiving funds.
This agreement serves as a guarantee of our commitment to transparency and our long-term partnership.
What does our guarantee include?
Furthermore, the agreement specifies the preferred method of payment to ensure your utmost convenience when receiving funds.
This agreement serves as a guarantee of our commitment to transparency and our long-term partnership.
What does our guarantee include?
- Register with DTCM
- Pay utilities (DEWA), gas, AC, Wi-Fi
- Pay consumables as per DTCM guidelines, including bedding, towels, crockery, etc.
- Cleaning
- Advertise for tenant search
- Facilitate tenant check-in and check-out
- Service Charge
- Pest control
- Provide preventive maintenance up to AED 500
- Repairs
- Furnishing
- Decorations
The next step in our process is to prepare the real estate property for handover, making sure it meets the high standards set by DTCM.
If needed, we will handle any necessary repairs and ensure the property is fully furnished, in line with DTCM standards. Furthermore, we always make sure to thoroughly clean the apartment to ensure our clients are satisfied.
We proceed with a professional photoshoot of the property to list it on dedicated platforms for client search. It is worth mentioning that other companies frequently impose a commission of 500 AED or higher for comparable services.
Our objective is to guarantee meticulous preparation of the property and provide our clients with supplementary services without any additional charges.
If needed, we will handle any necessary repairs and ensure the property is fully furnished, in line with DTCM standards. Furthermore, we always make sure to thoroughly clean the apartment to ensure our clients are satisfied.
We proceed with a professional photoshoot of the property to list it on dedicated platforms for client search. It is worth mentioning that other companies frequently impose a commission of 500 AED or higher for comparable services.
Our objective is to guarantee meticulous preparation of the property and provide our clients with supplementary services without any additional charges.
We advertise our apartments to a diverse international and local audience through popular online platforms like Dubizzle, Bayut, Property Finder, Booking.com, Airbnb, as well as through our own agency network.
Our experienced sales team can secure tenants for your apartment within two weeks. With our wide network of contacts and effective marketing strategies, we ensure a quick and efficient rental process for your property.
Our experienced sales team can secure tenants for your apartment within two weeks. With our wide network of contacts and effective marketing strategies, we ensure a quick and efficient rental process for your property.
At our company, we understand the importance of happy and satisfied clients. That's why we go above and beyond to provide exceptional service to each of our landlords. Our team is available 24/7 to address any concerns or queries.
In addition, we offer flexible check-in and check-out times that cater to the needs of our tenants. We strive to make their experience as convenient as possible.
We establish formal contracts with every landlord, ensuring the security of both our company and our clients.
Before moving in, each tenant provides a deposit, ensuring the safety of their belongings in the rented apartment.
In addition, we offer flexible check-in and check-out times that cater to the needs of our tenants. We strive to make their experience as convenient as possible.
We establish formal contracts with every landlord, ensuring the security of both our company and our clients.
Before moving in, each tenant provides a deposit, ensuring the safety of their belongings in the rented apartment.
Following the departure of each tenant, we diligently inspect the apartment and assess the condition of the furniture for any damages or signs of wear. In the event that damages are identified, we promptly reach out to the tenant and deduct the appropriate amount from their deposit.
This meticulous process guarantees the upkeep of the property and furniture in excellent condition for future tenants, while also ensuring compliance with deposit agreements.
This meticulous process guarantees the upkeep of the property and furniture in excellent condition for future tenants, while also ensuring compliance with deposit agreements.
Each month, on the 10th, we will provide you with an interest payment of based on your preferred payment method.
We offer the following payment methods for your convenience:
We offer the following payment methods for your convenience:
- Bank transfer
- Cryptocurrency payment
- Payment to your bank card
- Cash payment
Learn all the details about this project on the free zoom-consultation with our real estate advisor
As a result of the meeting, you'll receive:
Personalized investment strategy
Detailed Сash-on-cash calculation
Legal tax optimization options
Insights about mortgage and purchase process
Head
office:
Office 213, 2 Floor, MSM 1 Building, Al Safa 1, Dubai, UAE
© 2024 Masterpiece Group. All Rights Reserved
E-mail:
Phone:
License №1092965
P.O. Box:
454924
Real estate investment agency and management company with over 13 years of experience in the Dubai market
Office 213, 2 Floor,
MSM 1 Building, Al Safa 1,
Dubai, UAE
MSM 1 Building, Al Safa 1,
Dubai, UAE
