Cayan

Click on the map to locate all Cayan projects on Dubai Marina.

Frequently Asked Questions

Who is Cayan? Is Cayan developing overseas? Where are your sales offices located? Can international buyers purchase Cayan developed properties? Are properties Freehold or Leasehold? What is the buying process? How do I pay? Is there any government tax on property I own? What are the service charges and what do they cover? How can I apply for a mortgage? What happens if the investor defaults on his mortgage? What is the procedure to sell a property? If a purchaser wants to alter the structure within the unit, what is the process to follow? Can another individual be authorized to act on the property owner’s behalf on any property dealings? Can a property be registered under an offshore company? What are the required documents? Who bears the exchange rate gains or losses on transfer of funds?

Q1: Who is Cayan? Cayan is a leading real estate developer in the region, with a mission to challenge the world of architecture, luxury and exclusivity and create world class developments. In the past four years the company has developed five exclusive waterfront towers on the Dubai Marina namely, Infinity, The Jewels, La Residencia del Mar, Dorrabay and Silverene, as well as its own commercial tower, Cayan Business Center. Cayan is also developing a mega-project in Jeddah on the shores of the Red Sea, Lamar.

Q2: Is Cayan developing overseas? Cayan has 6 developments in Dubai and 2 developments in Jeddah, KSA. Cayan is currently looking at other overseas developments

Q3: Where are your sales offices located? Dubai 12th Floor Cayan Business Centre TECOM, PO Box 33668 Dubai, UAE Tel: +971 4 361 9333 Riyadh King Fahad Road Al-Meshal Building P.O.Box 75294 Riyadh 11578 Saudi Arabia Tel: +9661 416 3311 Fax: +9661 462 2262

Q4: Can international buyers purchase Cayan developed properties? In Dubai, any person can buy, there is no restriction. In KSA, Non-Saudis holding valid residential permit can buy property in KSA.

Q5: Are properties Freehold or Leasehold? All Cayan properties are freehold properties which means the person has 100% ownership of their property for life and they have the right to rent it out or resell it.

Q6: What is the buying process? At Cayan the buying process is simple; here are the steps to follow: 1. Choose a specific unit. 2. Notify Cayan sales office of the chosen unit. 3. Upon receipt of Cayan’s confirmation, Purchaser will sign the reservation form. 4. Purchaser to pay 10% non-refundable deposit. 5. The purchaser will sign Sales &Purchase (S&P) Agreement within 30 days from the date of the Reservation Form. 6. After signing the S&P Contract, Purchaser will have to effect payments according to the payment schedule set by Cayan

Q7: How do I pay? Payment can be made by cheque or bank transfer. In Dubai, Cayan accepts bank transfers in AED, Dollars, UK Sterling. In KSA, Cayan accepts bank transfers in Saudi Riyals

Q8: Is there any government tax on property I own? In Dubai, No. In KSA, No

Q9: What are the service charges and what do they cover? Service charges cover the common hold services including cleaning the common areas, maintaining pools and other facilities. The charge varies according to the development and its requirements.

Q10: How can I apply for a mortgage? You need to visit the Cayan approved mortgage providers. The requirements between the various lenders differ so please ask each lender of their requirement but generally they will ask you for the following: Salaried Customers Passport copy 6-month bank statement from account that your salary is sent to Liability letter from bank if you have other Letter from employer addressed to lender stating length of service, position, and breakdown of the monthly salary Copy of sales agreement Self-employed 6-months company bank statements Copy of trade license Copy of chamber of commerce registration Copy of memorandum of articles and association 3 year audited accounts Facility letter from your bank Copy of sales agreement Non-resident applicants need to provide tax returns for the last 3 years. For the Amlak forms and more information pls click here.

Q11: What happens if the investor defaults on his mortgage? If the default was registered before the purchaser moved in, then it is possible for the Bank to sell the property to settle the debt. If the purchaser is already living in the property, then alternative arrangements must be made.

Q12: What is the procedure to sell a property? If you would like the Cayan sales team to sell your property then you must speak to a Cayan investment advisor who will make the necessary arrangements to list the property on the database as well as include it in the regular ads done by the company.

Q13: If a purchaser wants to alter the structure within the unit, what is the process to follow? No changes can be made to the internal layout of a unit. Interior decoration is permitted as long as there is no affect on any main column or structure of the building.

Q14: Can another individual be authorized to act on the property owner’s behalf on any property dealings? In Dubai, yes, provided that the authorized owner has a written authorization attested from Dubai Courts or notarized and attested from a UAE embassy, if the client is a non UAE resident. In KSA, same.

Q15: Can a property be registered under an offshore company? What are the required documents? Original set of following documents notarized and attested by UAE embassy: Memorandum of Association Certificate of Incorporation Recently dated Board Resolution for purchase of the property Power of Attorney from the company Passport of the authorized person (& photocopy) List of share holders & share certificates In addition, buyers who have already applied for a mortgage are advised to discuss their plan with their mortgage provider before transferring their property to an offshore company.

Q16: Who bears the exchange rate gains or losses on transfer of funds? The customer, we only credit the value that is actually received. Any discrepancy will be carried over onto the next installment due.