Frequently asked questions
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 Riyadh..
Is Cayan developing overseas?
Cayan has 7 developments in Dubai, developments in Riyadh, KSA and Lebanon. Cayan is currently looking at other overseas developments.
Where are your sales offices located?
RIYADHKing Fahad Road
Tel: +96611 416 3311
Fax: +96611 462 2262
Cayan Business Centre
TECOM, PO Box 33668
Tel: +971 4 361 9333
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.
- In Lebanon, any person can buy, there is no restriction
Are properties Freehold or Leasehold?
In Dubai: All Cayan properties are freehold properties which mean the person has 100% ownership of their property for life and they have the right to rent it out or resell it.
What is the buying process?
At Cayan the buying process is simple; here are the steps to follow:
- Choose a specific unit.
- Notify Cayan sales office of the chosen unit.
- Upon receipt of Cayan's confirmation, Purchaser will sign the reservation form.
- The purchaser will sign Sales & Purchase (S&P) Agreement within 30 days from the date of the Reservation Form.
- After signing the S&P Contract, Purchaser will have to effect payments according to the payment schedule set by Cayan
How do I pay?
Payment can be made by cheque or bank transfer.
- In Dubai, Cayan accepts bank transfers in AED, Dollars, Euro & UK Sterling.
- In KSA, Cayan accepts bank transfers in Saudi Riyals.
Is there any government tax on property I own?
- In Dubai, No.
- In KSA, No.
- In Lebanon, Yes.
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.
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.
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.
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.
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.
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 instalment due.