Medina Baye Residences is an ideal hands-off real estate investment that is purpose driven; a wellness-oriented oasis in the heart of Medina Baye with high-quality accommodations, assembly spaces, and amenities that are designed to create a comfortable gathering place for individuals in the community
- An investment that supports community wellbeing and social health
- Enjoy great returns on your hotel apartment investment
- Become a hotelier & enjoy up to 5 nights per share of ownership
- Hands-off Investment where your asset is managed for you.
- Purchase part of a unit or co-purchase a unit with family, friends, or colleagues
- Step 1 – Tour your unit online at our Virtual Tour.
- Step 2 – Purchase one or more shares for $10,000 a share.
- Step 3 - Lease the unit back to Medina Residential Management
- Step 4 - Sit back, relax and watch your hands-off investment make returns for you.
Medina Bay Residences is made up of individual apartments leased back by the owners to a management company dedicated to managing the Residence exclusively for the owners.
Medina Baye Residences has two types of units: One-bedroom apartments and two -bedroom penthouses.
A buyer can purchase one or more shares for $10,000 a share and is required to sign the Purchase Agreement and Lease Agreement.
Under the Lease Agreement, the buyer leases the fractional share to the Medina Residential management Company. The share (s) shall then be included in a pool to be made available to paying guests for use as commercial rooms.
The leaseback is on-going but the owner can opt to sell at any time like a normal residential property.
All expenses, including advances for the expenses and in case of deficiency, shall be deducted from the gross share revenue.
An independent auditor will be hired to audit the Residence operations and annual operating statements, proving assurance to all unit owners, that the revenues, expenditures and, therefore, profits, are according to the laws and represent the truth.
This assures all share owners that they are receiving reliable financial statements.
There are no extra dues borne by the owners. Owners’ association dues and expenses shall form part of the operating expenses and shall be deducted from Gross Room Revenue.
No. However, share owners may occupy for personal use, a room for up to 5 room nights per operating year per share.
Depending on occupation, the room may not be the exact unit owned.
A share owner is entitled to their 5 Free Room Nights anytime throughout the operating year. However, the stay must be booked in advance and subject to the availability of units during the required period.
If a unit is leased after the start of an operating year, the share owner shall be entitled only to a pro-rata number of room nights corresponding to the remaining period of the operating year.
Also, a share owner can book their free nights or any periods except for black-out days.
Traditionally, the two Eid’s and the Gamou/Mawlid are the black-out days.
This policy is designed to ensure the maximization of revenues during the peak periods of operations.
Yes, a share owner may still book a room beyond the 5 Free Room Nights Privilege, this time as a regular paying hotel guest and after the usual booking. This time with the owner’s discount.
Yes. However, the share shall be offered first to Medina Residential management. This is great for you because you will constantly have a prospective buyer for your unit(s).
Should Medina Residential, waive its right of first refusal over the unit, it can be offered to the open market at the same terms and conditions offered to Medina Residential.
The new owner will be bound by all existing agreements namely, the Lease Agreement.
Rental returns will be distributed quarterly and in arrears