Emaar Launches ‘Skip The Line’ Scheme For Long Term Investors

Dubai developer Emaar has launched a new scheme for investors willing to commit to a 30 per cent down payment on the total value of a property and maintain ownership till handover.

The scheme, called Skip the Line, allows long term investors and end users to purchase properties without pre-registration even during the first day of a property launch, the real estate firm said in a statement.

A part of Emaar’s Preferred Access programme, the scheme avoids the need for waiting in regular queues or early registration, the developer said.

“Emaar has introduced several measures to strengthen investor confidence and support our long-term customers,” said Arif Amiri, chief commercial officer, Emaar Properties.

“The new Preferred Access programme has been launched following the strong response to our recent projects and growing demand from end-users.

“This focus on long-term customers will strengthen investor confidence in the property sector, and encourage more investors from around the world to make a stable property investment in Dubai.”

Emaar added that the purchase of any property is subject to investors agreeing to its terms and conditions of sale and will depend on final approval by the developer.

The Dubai-based firm has launched a number of new properties this year, including Boulevard Point, Vida Residence and BLVD Crescent in Downtown Dubai; Mulberry at Park Heights in Dubai Hills Estate; Mira Oasis in Reem; and the Rasha, Yasmin and Samara villas in Arabian Ranches.

Emaar previously banned real estate agents from selling its properties before completion in a bid to bring more stability to the market. However, the ban on off-plan sales did not extend to individual investors.

Dubai’s property market rebounded strongly in 2013 following a real estate crash in 2009, which caused prices to fall by 60 per cent.

The revival in the emirate’s property market has also resulted in a number of investors and agents flipping their assets in a bid to make a quick profit.

Industry experts have called for more regulation of off-plan sales by developers to prevent another market crash.