Clients: SevenTides / Various
Services: Property Managers and Co-ordinating Leasing Agent
Property: 13 mixed use Retail / Residential Blocks comprising of over 2,000 units.
Role: Asteco Property Management’s involvement has been comprehensive offering absentee Landlords a single source outsourced property management, facility management and leasing solution.
Our services can include anything from just collecting and remitting rental payments to the client to a fully integrated service such as that we provided for a portfolio of 13 buildings in Discovery Gardens, where we coordinated everything from the handover and snagging, right through to the day to day operations of the buildings once fully leased.
This project involved the interaction of various Asteco Departments all coordinated through Property Management.
Upon securing the appointments, we activated our Engineering Services division to undertake a full snagging/defects report of the buildings. This report was sent to the developer and we coordinated to ensure that all defects were attended to prior to accepting handover of the building from the developer.
Once the buildings were in an acceptable condition for handover we arranged to take possession of the buildings on behalf of the owners and arranged all final payments to the developer.
We then obtain quotations for delivery of facilities management services to the sites. This can include items such as security, cleaning, air-conditioning maintenance, car park operation, gym operation etc. Once quotations are obtained we make recommendations to the client and negotiate a contract to ensure that the fabric of the building is maintained. We are working very closely with the Landlord on property improvements and refurbishments, analysing the cost and impact on Landlord and tenant. Such project co-ordination with contractors, suppliers and tenant management is overviewed by Asteco’s team.
A well presented and managed building always attracts a better quality of tenant.
The buildings then need to be leased to ensure income stream is generated for the investment. Property Management coordinate with the Leasing team and ensure that Asteco approved terms and conditions are met to protect the interests of the Landlord and tenant in accordance with UAE laws.
With Asteco’s in-house services we have been able to provide latest market studies recommending the rental trends for the property. In tandem with marketing campaigns and positioning of sophisticated advertisement Asteco was able to achieve continuous successful occupancy rate.
Throughout the leasing campaign and beyond, the Property Management Team are continually providing the client with monthly income and expenditure reports, leasing status updates, maintenance updates and advising on any other property related issues and is taking the necessary legal steps in case of contract breaches.
The service is operated by a dedicated appointed management team supported by Asteco’s headquarters specialised services.
Discovery Gardens is a residential community offering a modest and convenient lifestyle. Located in Jebel Ali, Discovery Gardens consists of six themed districts, each with its own distinctive character, capturing different elements of nature’s rich diversity – Zen, Mediterranean, Contemporary, Mogul, Mesoamerican and Cactus.
Discovery Gardens is ideally located close to Dubai’s major business and economic centres, including Jebel Ali Freezone, Dubai Internet City, Dubai Media City, and Dubai Metal and Commodities Centre. With more than 26,000 spacious apartments of various sizes, Discovery Gardens offers residents a beautiful home, set in a community environment offering quality but affordable lifestyle. 30% of the development is reserved purely for landscaping, which ensures all residents can enjoy plenty of outside space ideal for families as their varied needs are being catered. Each apartment is designed using marble and ceramic tiles from around the region, with maple finishing and attractive lighting to bring warmth and comfort. Adding to the residence’s convenience is its proximity to Ibn Battuta Mall, several medical facilities such as Aster Medical Center and Al Rafa Polyclinic, and schools such as the Winchester School.
Discovery Gardens is located at a distance of only 3 km from the Ibn Battuta Metro Station. Taxi fare from Discovery Gardens to the metro station is around AED 17.