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Leaseback Property in Dubai - Frequently asked questions Is leaseback like timeshare? In a word no, leaseback property in Dubai is not all like timeshare. With leaseback schemes in general and this one in particular you are buying the property outright and freehold. Timeshare involves buying periods of time throughout the year on a property and you are never the owner. Although you are leasing the property back to a management company with the “Wealthbuilder” leaseback scheme, when the contract comes to an end the property is still owned by you.
Can I sell a property in Dubai at any time even if I am enrolled in the leaseback scheme? Yes. When you buy the property you are buying it freehold, and as a freehold owner you are entitled to do sell on your property at any point. It is worth remembering though that the person you sell the property on to will more than likely have to continue within the leaseback scheme in Dubai for the remainder of the contract term. The Diamond leaseback apartments
Who is responsible for any breakages within the property? Within the leaseback scheme, the management company residing over the development is solely responsible for the upkeep and maintenance of the property. They are there to ensure that everything is in working order and remains that way. In the case of The Diamond the management consultants are the world renowned Colliers International, so you know your property is placed in the hands to experts in property management. |
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