The Cove - Dubai Real Estate Investment on the Cove

Add caption

Extend across 50 beautiful acres; The Cove is basically a beach resort project of AED estimated to cost $221 million featuring 179 exclusive residences. If you are one of those individuals who want to experience sunshine of Dubai while lying on the white sandy beach, then there is good news for you as you can get unlimited and private access to beach in 'The Cove'.

Apart from a five star beach hotel, The Cove also includes one, two and three bedroom chalets. There are separate terraces and private plunge pool in each chalet. You can enjoy breathtaking views overlooking the water from The Cove, as chalets are positioned on the islands. What's more, visitor parking is also available on the plateau level of The Cove.

Location

The Cove is located in north of Dubai in the city of Al Khaimah. It is just 40 minutes drive away from Dubai's International Airport. You can't ask for a much better location, as there are plenty of shopping malls, golf courses, top class colleges and hospitals in the close range.

Completion and Service Charges

The construction of The Cove is expected to complete by 2008. In terms of service charges, a maintenance fee is 12 dhs per square foot will be charged. Point to be noted here is that this charge is incurred for the one months of occupation during the initial three years of the leasing period. Once this period is over, you have to pay the conventional yearly maintenance charges.

Selling of the Property

If you are interested in selling your property to a third party you can easily do that. It is worth mentioning in this regard that property in The Cove is fully transferable to a third party, although there is a 0.5 per cent administration fee involved for ownership transfer in The Cove.

No doubt, The Cove offers a unique investment opportunity for real estate investors who would like to have a holiday home, which they can visit any month of the year and get a guaranteed return of 7 per cent in the remaining 11 months.

Not only The Cove is strategically located but also for the initial three years the seller can lease it. After that, you can sell the property or can renew the leasing contract. If you want to sell the property, you can sell it directly to the developer at the market value. So, there is no need of you searching for a buyer.