Ellington Properties, Dubai’s leading design-led property developer, has announced for the first time a rental guarantee scheme of 8 per cent per annum for three years for all new owners during the Holy Month of Ramadan.
Introduced to demonstrate confidence that the market fundamentals are strong and will bounce back after the current Covid-19 situation, the rent guarantee scheme is calculated against the total value of properties and applies to all new purchases at Belgravia Square and Wilton Park Residences. Ellington Properties has already marked the ground-breaking of both projects.
Paula Wehbeh, Head of Strategy at Ellington Properties, said: “We are confident that Dubai’s property sector will bounce back as it continues to offer an attractive proposition for investors with strong returns in the mid to long term. As part of our continued commitment to customers and to underline our trust in the real estate market, we are setting a first through the rental guarantee scheme for investors in the two properties. Despite the current market situation, we have been securing steady enquiries and we believe that the rental guarantee will further incentivise potential buyers.”
Belgravia Square is situated in Dubai’s popular Jumeirah Village Circle (JVC), and is a uniquely designed residence in an elegant contemporary architecture. It has two sophisticatedly designed ‘L-shape’ blocks facing each other, and with 224 spacious studios, 1 and 2-bedroom apartments. Belgravia Square has grand lobbies, which will be structured to impress residents and visitors, and feature dynamic lighting and intricate sculptures created by local artists. The community area will offer a variety of amenities which cater to every family member.
Wilton Park Residences is a serene lifestyle community, located in Mohammed bin Rashid Al Maktoum City (MBR City), Dubai’s sought-after residential, leisure, retail and arts destination. Assuring a serene living environment in the heart of the city, yet away from its bustle, Wilton Park Residences celebrates the design-centric philosophy of Ellington, with a modern London architecture. The well-being and healthy lifestyle of residents is the prime consideration with a wide choice of indoor and outdoor leisure amenities. At the heart of Wilton Park Residences is the immaculately designed greenery that offer a natural contrast to the London-style homes, evoking a distinctive look and feel. There are on 320 residences available in studios, one and two bedrooms.
Founded in 2014, Ellington Properties has several design-led developments located in desirable Dubai locations including JVC, Downtown and Mohammed Bin Rashid City including Wilton Terraces and Belgravia III as well as the already handed over Eaton Place and Somerset Mews. Soon to be handed over is its inaugural Downtown Dubai property, DT1.
The company secured the ‘Customer Happiness Award’ at the Customer Happiness Summit and Awards 2019 and ‘Best Boutique Property Development Company – Middle East Award for Excellence in Design-Led Solutions’ at the Build Real Estate & Property Awards 2019.
