The Residence by Prestige One

The Residence by Prestige One offers one- and two-bedroom apartments in Jumeirah, sold off-plan. One- and two-bedroom apartments are the core of the city's letting market, and the difference between a good and an indifferent building of this type usually comes down to the size of the units and the level of the service charge.

Those two numbers come from the developer's unit schedule and service-charge estimate, and we obtain both from Prestige One before offering a view. With the price list in hand the building can be compared with resale stock in comparable buildings for size, specification and price on the same footing. The purchase itself follows the standard off-plan route in Dubai: registration with the Dubai Land Department in the buyer's name during construction, instalments paid into a regulated escrow account, and a sale and purchase agreement that fixes the dates. We read that agreement clause by clause with you before a reservation, since the instalment schedule and the late-payment terms vary from one developer to another.

To move forward, ask us for current prices, the plans and the availability, which we request from Prestige One and send on as received. If the purchase is for letting, tell us which of the two sizes you lean towards and we will put current rents for comparable units beside the prices, so the decision is made on like-for-like figures rather than on the name.