Ellington Properties, Dubais leading design-led property developer, has revealed for the first time a rental warranty scheme of eight per cent per annum for three years for all new owners throughout the Holy Month of Ramadan.
Introduced to exhibit confidence that the market fundamentals are robust and will bounce back after the present Covid-19 situation, the rent assurance scheme is calculated against the complete value of homes 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 assured that Dubai’s property sector will bounce back as it continues to offer an alluring proposition for traders with robust returns in the mid to lengthy term. As part of our persisted dedication to clients and to underline our trust in the real estate market, we are setting a first via the rental assurance scheme for investors in the two properties. Despite the present market situation, we have been securing constant enquiries and we trust that the rental assurance will further incentivise potential buyers.”
Belgravia Square is located in Dubais famous Jumeirah Village Circle (JVC), and is a uniquely designed residence in an elegant modern-day 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 galvanize residents and visitors, and feature dynamic lighting and intricate sculptures created by local artists. The community area will provide a range of services which cater to each and every family member.
Wilton Park Residences is a serene lifestyle community, placed in Mohammed bin Rashid Al Maktoum City (MBR City), Dubais sought-after residential, leisure, retail and arts destination. Assuring a serene dwelling surroundings in the heart of the city, yet away from its bustle, Wilton Park Residences celebrates the design-centric philosophy of Ellington, with a cutting-edge London architecture. The well-being and healthy way of life of residents is the top consideration with a broad preference of indoor and outdoor entertainment amenities. At the heart of Wilton Park Residences is the immaculately designed greenery that provide a natural contrast to the London-style homes, evoking a different appearance and feel. There are on 320 residences available in studios, one and two bedrooms.
Founded in 2014, Ellington Properties has several design-led developments situated in desirable Dubai locations such as JVC, Downtown and Mohammed Bin Rashid City which includes 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.
For more details on the rental guarantee scheme, please contact us.