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- Family
- Couple, no dependants
- Invested
- AED 2,200,000
- Start to finish
- 3 months
- Afterwards
- Owner-occupied for part of the year, short-let the remainder.
Why this, and what was rejected
A ready property rather than off-plan, because the Golden Residence application needs a title deed and off-plan delays the permit as well as the handover.
Priced above the AED 2,000,000 threshold deliberately, for the same reason the İstanbul case was: valuation movement should not be able to put the application under the line.
What went wrong
A mortgage on the property required a bank no-objection certificate that took longer to obtain than the permit itself.