Lease To Own

A project of one-bedroom apartments offered as Rent to Own and with a Lease Purchase option. This gives a right to purchase, which is also an obligation to purchase one of the properties at a future date. The opportunity to purchase is charged as a percentage of the property value, paid throughout the lease as a premium. The buyer can purchase at any time during their lease period or buy once the lease has finished.

The Benefits

One financial advantage for buyers is the offer or a lower entry level — at just 2% of the value, instead of paying a mortgage down payment. In addition, the opportunity to spread the payments as a premium paid in monthly instalments means more people can afford to buy — and save on closing costs at the end of the lease. Tenants enjoy even greater savings during their lease, as maintenance is covered in the rent, with no service charge payable until purchase.

Facts and Figures

• Unit Type: One bedroom apartments
• Size: 102 sq m
• Price Per sq m: QAR 14,000
• Lease Period: 36-60 months
• Rent Base: QAR 11,500
• Premium on Rent: QAR 1,000
• Sale Price: QAR 1,435,140
• Reservation Fee: 2% of the sale price paid at commencement