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Seven Tides supports tenants with rent-free periods, as Dubai property market bounces back

Luxury residential and hospitality property developer Seven Tides has announced attractive new rental rates, including rent free periods for new tenants at Discovery Gardens and The Residences at Ibn Battuta Gate.

“This promotion represents exceptional value for prospective tenants,” said Abdulla bin Sulayem, CEO, Seven Tides. “According to analysts at ValuStrat, apartment rental rates in Dubai, grew by over 14% in 2021 as Dubai emerged from the lingering effects of the pandemic.       

“Many real estate professionals believe that the outlook for 2022 is also positive with apartment rental rates likely to increase by 5-7%, surpassing pre pandemic levels,” he added.

New tenants looking to rent apartments in The Residences at Ibn Battuta Gate, can now lease a 700 sqft, one-bedroom unit with balcony, starting from AED 61,000 or alternatively a 1027-1173 sqft two-bedroom apartment with balcony, starting from AED 82,000 to up to AED 92,000. Both prices are spread over 13 months and inclusive of utilities, chiller fees, Wi-Fi and Cable TV and there is also a furnished option available.

Tenants can also take advantage of a 25% food and beverage discount at the adjacent five-star Oaks Ibn Battuta Gate Dubai Hotel. In addition, the Ibn Battuta Mall, the largest themed mall in the world which has close to 400 stores as well as a multi-screen cinema and a comprehensive food court, is only a short walk away.

The Residences at Ibn Battuta Gate, attracts a broad range of nationalities, with Arab nationals making up 20%, British 16%, Indians 15% and Filipinos 13%, while 36% of the tenants are represented by other nationalities.

In Discovery Gardens, new tenants can secure a one-bedroom apartment with balcony for as little as AED 48,000 spread over 13 months, inclusive of chiller fees. Seven Tides owns ten buildings within the community, with a total inventory of 1,528 apartments in a contemporary residential setting, offering a cosmopolitan style of living. It is ideally located, with its own Metro station and easy access to JLT and Dubai Marina.

Looking at the lifestyle choices, Discovery Gardens features a host of swimming pools, tennis courts, children’s play areas, basketball and volleyball courts, as well as a mosque, and trails for both cycling and jogging. It is extremely popular with Indians, Filipinos and Pakistanis who make up 82% of the tenant mix.

“The current occupancy level at Discovery Gardens is 99% so there are very few units still available,” added bin Sulayem.  

About Seven Tides

Based in Dubai, United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.