Name: The Golden Mile
Location: Trunk at Channel, Palm Jumeirah
Buildings: 10
Floors: 5
Use: Residential
Apartments: 780
Cost: $300m

Shopping Boulevard with 220 stores


http://www.ayuplanet.com/dxblover/New Towers/The Palm Golden Mile.jpg

http://www.ifahotelsresorts.com/projects/goldenmile/main_image.jpg

Nakheel & IFA launch the marketing of the 'Golden Mile' Jumeirah
Nakheel, developers of The Palm, and IFA Hotels & Resorts, a subsidiary of Kuwait-based International Financial Advisors (IFA), will launch the highly-anticipated sale of its joint venture luxury, waterfront Golden Mile apartments on The Palm, Jumeirah in Dubai, United Arab Emirates at the Arabian Travel Market from 4 – 7 May.

http://www.ameinfo.com/images/news/8/5788-goldenmile.jpg
The Golden Mile.

International demand for the exclusive, waterfront properties has been running at a premium since news of the joint venture project made global headlines two months ago.

Sultan Ahmed Bin Sulayem, Chairman of Nakheel said 'There has already been intense world-wide interest in the Golden Mile and we are confident of a swift response to this latest Palm, Jumeirah sales opportunity,

The Palm, Jumeirah will be an extraordinary residential and tourist development, it has developed at an incredibly rapid pace since construction began in 2001, and development of the Golden Mile reinforces the island's standing as one of the world's premiere living and vacation destinations.

The Golden Mile is another world-class project which will significantly contribute to achieving Dubai's vision of building an inbound tourism arrivals target of 15 million tourists by 2010.'

The flagship Golden Mile – an international shopping and residential destination - will cover 60,000 square metres - one whole side of The Palm, Jumeirah's trunk and will include a 1.5 kilometre waterside Corniche. Being developed at a cost of US $300 million it comprises 780 luxury apartments, in 10 waterside buildings and 220 upscale boutique shops and restaurants.

Jassim M Al-Bahar, Chairman and Managing Director of International Financial Advisors (IFA) stated that 'The Golden Mile is targeted at a discerning audience which enjoys living an exclusive lifestyle in quality surroundings with the finest services. Due to the unique destination, we have received demand for this project from our existing clients in the Gulf keen to invest in this extraordinary development. Furthermore, we have also received interest from clients in the Gulf keen to visit our developments within the network spanning Portugal, Zanzibar, Lebanon and South Africa. The Golden Mile offers buyers a unique living environment as well as an outstanding investment as experienced by our clients who bought in our projects at the Palm Jumeirah. Shops, restaurants, apartments and penthouses will be supported by an international hotel company providing comprehensive property services. The Golden Mile will be an inclusive destination in its own right.'

The Golden Mile joins IFA's extensive development portfolio for The Palm, Jumeirah. The company is also behind The Palm Hotel & Resort with 300 rooms, the five-star Palm Vacation Club on the island's trunk, a 1,000 room five-star Palm Sun Hotel and Resort on the island's crescent. In addition, IFA Hotels & Resorts is behind The Palm Residence, with luxury apartments in the twin Al Nabat and Al Haseer towers.

The twin tower apartments are now fully committed with buyers earning a 30% premium on their investment over the past six months alone.

A key selling point of IFA Hotels & Resorts' properties on The Palm, Jumeirah has been the company's full-service offering, a major influencer in Nakheel's decision to partner the company in the Golden Mile project.

Wahid Attalla, Executive Director-Commercial & Operations, Nakheel declared 'From first buying to later managing and maintaining their Golden Mile homes, buyers can expect an experienced and professional organisation that understands how important the purchase of a home is. The Golden Mile apartments will have stunning waterside views, iconic architecture, luxurious interior design and access to the beachside Palm Hotel & Resort. The apartments come complete with their own large, private patios and superb views'.

James Wilson, President and Chief Operating Officer, IFA Hotels & Resorts said 'In line with our determination to provide a best-in-class service and value-added options, residents will benefit from an extensive range of services including owners' reception and concierge, housekeeping, maintenance, security and excellent maid and childcare services. IFA's commitment to deliver the highest-quality properties with exclusive, resort-style services now extends to the Golden Mile. This unique development now joins IFA's extensive tourism network which spans world-class projects in Portugal, Zanzibar, Zimbali in South Africa and The Palm, Jumeirah.

Jassim M Al Bahar concluded by stating 'This project and our partnership with Nakheel, is a further visible sign of our commitment to, and support of, the vision of His Highness General Sheikh Mohammed Bin Rashid, Crown Prince of Dubai, to transform Dubai into a world-class tourism, retail, real estate and commercial centre offering the finest facilities.'

not bad at all!




50 per cent of Nakheel & IFA 'Golden Mile' project sold in less than 24 hours
Nakheel, developers of The Palm and IFA Hotels & Resorts, a subsidiary of Kuwait-based International Financial Advisors (IFA), have announced that 50 per cent of the 780 exclusive freehold apartments on Golden Mile, Palm, Jumeirah have been sold within less than 24 hours of going on sale at the Arabian Travel Market in Dubai.


http://www.ameinfo.com/images/news/7/5857-ifa5.jpg
From left to right: Mr Wahid Attalla, Executive Director-Commercial & Operations, Nakheel, Mr Sultan bin Sulayem, Chairman of Nakheel, Mr Jassim Al-Bahar, Chairman of IFA, Mr James Wilson, President and Chief Operating Officer of IFA Hotels & Resorts.

The Golden Mile – an international shopping and residential destination which covers 60,000 square metres – is a flagship project on the prestigious Palm, Jumeirah, an offshore island being built off the coast of Dubai in the United Arab Emirates.

'This is an unprecedented response for a new project in Dubai and demonstrates quite emphatically how great demand is for properties on what will be one of the world's most sought-after addresses,' said Sultan bin Sulayem, Chairman of Nakheel. 'The purchaser profile is international although there have been significant commitments from Gulf investors.'

The Golden Mile, is a joint venture project between Nakheel and IFA, will feature the apartments in two waterfront buildings. The properties went on sale yesterday at the Arabian Travel Market in Dubai with prices ranging from US $250,000 for a one-bedroom, garden-view unit to US $550,000 for the high-end waterfront three-bedroomed properties.

'The strength of demand has also been activated by the quality and location of the project as well as the new buyer financing package initiated jointly by Nakheel and IFA,' said Jassim Al-Bahar, Chairman & Managing Director, IFA.

'As a 'first' for the Dubai real estate market, this package puts our joint venture clearly in a sector leadership position.'

Under the new financing package, the joint venture will finance the purchase of freehold apartments for buyers over a 10-year period. Buyers now have the option of paying for their apartments in instalments over tow years, as with other projects in Dubai, or repay the joint venture over a three-and-a-half or 10-year period. Buyers have to pay a 30 per cent deposit up-front and make monthly repayments over their designated period.'

'As the only apartments currently available on The Palm, Jumeirah, we anticipated an extremely keen response,' said Wahid Attalla, Executive Director – Commercial & Operations, Nahkeel. 'The response to the Golden Mile properties mirrors the continuous demand for Palm homes and investments experienced since this unique project was initially launched.'

The Golden Mile apartments have been designed to meet the high standards of construction and fittings which have now become a hallmark of IFA Hotels & Resorts' properties. The apartments will have stunning waterside views, iconic architecture, luxurious interior design and access to the beachside Palm Hotel & Resorts. The units come complete with their own large, private patios and superb views.

'IFA, which is now the main investor on The Palm, Jumeirah, has fast become the preferred developer on the Palm because of its full service approach which gives value-added benefits to buyers,' said James Wilson, President & COO, IFA Hotels & Resorts.

Palm Golden Mile buyers benefit from an extensive range of services, including owners' reception and concierge, housekeeping, maintenance, security and excellent maid and childcare services

oh wow again to the palm with these project more and more its taking land mark status

http://img.photobucket.com/albums/v302/seonnecken/jumpalm.jpg Photo by Soennecken

Here you can see where the GoldenMile will be built.
If you look at the trunk, you can see the street on the very left side.
Golden Mile will be right to this street.
Not sure if they are already working, the right side of the trunk seems to be busier, and as far as i know the shorelines will be finished earlier than the Golden Mile ...

yes, would really like to see what's going on on the palm now
just want to drive down the trunk

i just hope not all those apartment buildings will have the same design
but it seems to be like that

mhm i am quite sure that the shorelines at least will look the same, except that some of them have 9 / 10 /11 floors...
Perhaps PalmTerrace will look little bit different...

The Golden Mile will be more or less one big row, but that will look nice i think...!

Salaamz,

http://img.photobucket.com/albums/v651/AltTabDXB/PalmTrunk1.jpg
Trunk photo by Soennecken

Just to clear up some things...
1. The Shorelines apartments are on right hand side, they will be finished first around Jan - Apr 2006

2. The Golden Mile mile on the left hand side, work has not started (delayed) will start in June 2005, will be completed late 2006.

3. Marina Apartments at the top of the trunk, will be finished Dec 2007.

4. Oceana Marina Apartments (not marketed by Nakheel) top left trunk, will be finished 2007.

5. The Jewel Apartments top right trunk, (same design as Oceana but marketed by Nakheel) will be finished 2007.

AltTab

ok that is cool thanks Alt-Tab for making al that clear...
will look great when finished, although i don't like the design of Oceana and the jewel...

ok that is cool thanks Alt-Tab for making al that clear...
will look great when finished, although i don't like the design of Oceana and the jewel...

Agreed, i also dont like the design of Oceana and the Jewel buildings, it looks like they just tried to cram in as many apartments as they could, the modern architecture of these buildings also does'nt fit well with the previous designs which were an Arab Eclectic

AltTab

That's the thing i do not like on Nakheel...
they always overdo it a little bit in my opinion...
three palms,...
every single much bigger...
and full of apartments, perhaps too full..!

http://www.gowealthy.com/palm/images/gm_01.jpghttp://www.gowealthy.com/palm/images/gm_02.jpghttp://www.gowealthy.com/palm/images/gm_03.jpghttp://www.gowealthy.com/palm/images/gm_04.jpghttp://www.gowealthy.com/palm/images/gm_05.jpg

The trunk of The Palm, Jumeirah is the hub of the island. Nearly half a kilometre wide, it will feature a monorail system for the convenience of residents and guests. Here you will find five-star hotels, The Palm Tower, beaches, deluxe apartment buildings, marinas, Village Centre, restaurants, cafes and a variety of retail outlets.

And crowning all of these is the Golden Mile, the most prestigious of all elements on the trunk. Providing the ultimate shopping experience, 220 of the world's most upscale stores and restaurants will make up the Golden Mile Retail, from designer boutiques, outdoor cafes, luxury shops, and formal dining. The Golden Mile is certain to become a destination for residents and visitors alike.

The Golden Mile Residences will showcase 10 waterfront buildings, featuring a range of spectacular homes ranging from 1 bedroom apartments to penthouses and town homes.

This spectacular collection of approximately 780 apartments will offer unrivalled services, views, convenience and design. What's more, you have the assurance that every detail is taken care of by a professional full service provider.

The Golden Mile Residences benefit from an extensive range of services provided by the neighbouring Palm Hotel & Resort, both of which are managed by the same internationally known hospitality operator. These include a clubhouse with membership access, private beach, swimming pool, modern health club, children's playground and restaurant/cafe. Owners also have the benefit of apartment servicing, housekeeping and maintenance, maid and children services (for a nominal fee), and owners' reception area with concierge and security. Condominium management and an owners association will provide administrative systems, rental and time share incomes.



http://www.gowealthy.com/palm/images/gm_elevation.jpg

The trunk of The Palm, Jumeirah is the hub of the island. Nearly half a kilometre wide, it will feature a monorail system for the convenience of residents and guests. Here you will find five-star hotels, The Palm Tower , beaches, deluxe apartment buildings, marinas, Village Centre, restaurants, cafes and a variety of retail outlets.

And crowning all of these is the Golden Mile, the most prestigious of all elements on the trunk. Providing the ultimate shopping experience, 220 of the world's most upscale stores and restaurants will make up the Golden Mile Retail, from designer boutiques, outdoor cafes, luxury shops, and formal dining. The Golden Mile is certain to become a destination for residents and visitors alike.

The Golden Mile Residences will showcase 10 waterfront buildings, featuring a range of spectacular homes ranging from 1 bedroom apartments to penthouses and town homes.

This spectacular collection of approximately 780 apartments will offer unrivalled services, views, convenience and design. What's more, you have the assurance that every detail is taken care of by a professional full service provider.

The Golden Mile Residences benefit from an extensive range of services provided by the neighbouring Palm Hotel & Resort, both of which are managed by the same internationally known hospitality operator. These include a clubhouse with membership access, private beach, swimming pool, modern health club, children's playground and restaurant/cafe. Owners also have the benefit of apartment servicing, housekeeping and maintenance, maid and children services (for a nominal fee), and owners' reception area with concierge and security. Condominium management and an owners association will provide administrative systems, rental and time share incomes.



http://www.gowealthy.com/palm/images/gm_elevation.jpg



Is this a new article or an older one, as there is a Palm Tower mentioned here... or do we get a new one soon!! :carrot: :yes:

dont get excited, old article :(

This one is also GOLDEN MILE, and I think it's around 12 Storey tall? :?

http://www.homesandproperty.co.uk/havengreen/international-properties/p1300263.jpg

LOCATION :
http://www.homesandproperty.co.uk/havengreen/international-properties/p3300263.jpg

http://www.homesandproperty.co.uk/agent.aspx?agentid=4683&opt=prop&pid=300263&photo=1#photo

mhm doubt that's another one. could be a shoerline and they just made a mistake.

You mean the building in the back??

It looks like the Atlantis hotel I think.

me too
looks very close

too close. but right it looks like the atlantis, though i just think the editor made a mistake and merged them or sth.

Oh yeah, must be The Atlantis...:)

i'm pretty certain this is an early render for the marina village apartments which will occupy the crown at the palm - the bit at the centre of the six marina buildings - however nothing has been released yet here as the plans for this area have yet to be finalised

d

also golden mile owners have finally been informed that foundation and piling work will start in first week of October - and the completion date has been moved back to Dec 2007.

this takes very long, 2 years for 5F buildings.

referring to my previous post below is a pic of the palm jumeirah trunk model taken at cityscape

note the building 'shaped like atlantis' is actually the marina crown apartments

http://************/dxdyxw.jpg

Glad they redesigned those marina crown appartments. They looked like absolute shit before. They look nice now, but still a bit too regular for my liking. It would be great if they made each building slightly different

Any new pictures??

Fairmont to manage The Palm Golden Mile, two residences

Dubai: IFA Hotels and Resorts has appointed luxury hotel operator Fairmont to manage The Palm Golden Mile and their two shoreline buildings, Al Nabat and Al Haseer, IFA HR's residential projects, located on the trunk of The Palm, Jumeirah. The appointment reinforces Fairmont as one of the leading luxury operators within the region and further strengthens the relationship between the two companies. Inventory under the management of Fairmont will now range from traditional hotel keys within the Fairmont Palm Hotel and Resort, through to luxury apartments and penthouses managed under a tailored rental administration programme.

do we know if those are the additional shorelines?

IFA Hotels & Resorts appoints Fairmont Hotels & Resorts

IFA Hotels & Resorts (IFA HR) has announced the appointment of luxury hotel operator Fairmont Hotels & Resorts (Fairmont) to manage The Palm Golden Mile and their two shoreline buildings, Al Nabat and Al Haseer, IFA HR's residential projects, located on the trunk of The Palm, Jumeirah.
United Arab Emirates: 2 hours, 53 minutes ago

The appointment reinforces Fairmont as one of the leading luxury operators within the region and further strengthens the relationship between the two companies. Inventory under the management of Fairmont will now range from traditional hotel keys within the Fairmont Palm Hotel & Resort, through to luxury apartments and penthouses managed under a tailored rental administration programme.

The Palm Golden Mile is a Joint Venture between IFA HR and Istithmar and will feature ten waterfront buildings, featuring everything from one bedroom apartments to grand penthouses and townhouses. The luxurious 860 units have been designed with waterside views, spacious private patios, iconic architecture, elegant interior design and membership access health clubs and beach clubs on The Palm, Jumeirah.

Al Nabat and Al Haseer are two shoreline residential developments of 246 apartments built in an eclectic Arabic style on the trunk of The Palm, Jumeirah. The development also offers an array of facilities including a members-only health club, gymnasium, swimming pools and other facilities associated with a 5 star operation including valet and concierge services.

Owners of both developments will benefit from a Rental Administration Programme, managed by Fairmont that allows the investor to purchase a fully furnished interior design package, which Fairmont then administers and lets out on their behalf, alternatively Fairmont can handle the normal long term rental contracts to cater for the needs of the short and long term tenant.

Mr. Patrick Smith, Vice President Asset Management, IFA HR said,

'The facilities available at The Palm Golden Mile and Al Nabat & Al Haseer will be unsurpassed, giving residents an opportunity to enjoy a waterfront lifestyle. With the management of these residences entrusted to Fairmont Hotels & Resorts, we have delivered on our promise to clients, to have the highest level of service available to our residents.'



The Palm Golden Mile will encompass some of the Palm Jumeirah's premiere retail shops, offices and residences. Construction of this premiere mixed use resort is now well under way and completion is expected in first quarter of 2008. The Al Nabat & Al Haseer buildings form part of Nakheel's Shoreline apartments and are scheduled for completion in the first quarter of 2007.

Fairmont Executive Vice President, Mr. John Johnston said, 'Fairmont Hotels & Resorts has built a reputation for excellence and we take great pride in being associated with The Palm Golden Mile and Al Nabat & Al Haseer. Managing these projects will be exciting for us, given their unique location on the world renowned The Palm, Jumeirah. Residents of properties will enjoy premium service that Fairmont has been known to provide worldwide, offering the very best in serviced living. We look forward to a long and mutually beneficial partnership with IFA Hotels & Resorts in the years ahead.'

Mr. Talal Jassim Al Bahar, Chairman and Managing Director of IFA HR, concluded 'Our continued strategic alliance with Fairmont Hotels & Resorts is strengthened by their appointment to manage The Palm Golden Mile and Al Nabat & Al Haseer. As a company, we are committed to provide a premium product offering to our buyers and it is fitting that this will be delivered by one of the best luxury hotel operators in the world.'

deleted duplicate post

Just received the following email from IFA....


Our development on the Palm Jumeirah continues to proceed at a steady pace..

What has to be considered one of the most technically advanced and prestigious developments in the world, has not come without its fair share of challenges, but is firmly in the hands of a team of people dedicated to delivering a quality project on time.

IFA Hotels & Resorts is committed to service excellence and aims to constantly improve our customer relations. This includes providing regular updates on progress and completion dates.

The appointment of the main contractor in March 2006 for The Palm Golden Mile earmarks a key milestone for this prestigious development. IFA Hotels & Resorts and our joint-venture partner Istithmar PJSC, have appointed Al Shafar General Contracting Co [L.L.C.] as the main contractor for the Palm Golden Mile project.

CONSTRUCTION PROGRESS REPORT
The Palm now boasts pristine beaches that will leave you in awe at the magnificent views and surreal beauty, as well as its engineering ingenuity.

As part of our regular updates to you, you will be able to witness first hand the evolution of the development and monitor the step by step process of construction.

Having taken occupation of our site we are well on our way to delivering the Golden Mile early in 2008.

The bulk excavations, shoring and piling for buildings 7 to 10 are now complete. The technique of excavating and forming the walls below water level is exceptionally specialised and was uniquely developed by geotechnical and civil engineering contractors NSCC/Soletanche Bachy. The 1 meter thick concrete retaining walls surrounding the site down to a rock level 20 metres below ground have been completed, totaling a length of approximately 3 kilometres! These walls separate the buildings from the main road on one side and the canal on the other and will allow the construction of the basements. They have also completed 900 bored piles through 20 metres deep of sand fill, previously placed by the dredging contractor whilst forming The Palm. The piles are anchored into the rock layer on the seabed.
The basement levels on buildings 7 to 10 are now being excavated and the dewatering equipment is reducing the seawater level inside the retaining wall by 9 metres.

In addition to the exclusive access that all our owners will have to the various beach clubs on The Palm, Jumeirah, we are pleased to advise that we will be constructing several new gyms as part of the Golden Mile upgrades.
These facilities will be available to owners on a membership basis. We have also initiated upgrades of finishes fuelled by constantly aiming to improve standards of living. We will share further details of the upgrade program in the next client update.

OCCUPATION DATES
Occupation of The Palm Golden Mile is still on track for early in 2008. We will confirm at least 3 months in advance as to the actual occupation date and we will keep you informed of the progress throughout the remainder of the development.

APPOINTMENT OF FAIRMONT HOTELS & RESORTS
You may have noticed from the press that we have appointed Fairmont Hotels & Resorts (Fairmont) to manage the residential units within the Golden Mile to ensure first class services to our clients. In our next communication to you, we will be providing details of the interior design and furniture packages selected in collaboration with Fairmont, which will be available to all owners. This is an exclusive service we will offer our clients to save you both time and money, to fit-out your residence ready for occupation.

We are finalising the selection of the highest quality furnishings, fittings and branded equipment to provide you with an à la carte range of value-for-money options. We are creating furniture packages designed to cater for all tastes, to ensure your apartment will have all the luxuries you are accustomed to, making your arrival like checking into a 5 star hotel. All you need to bring is your suitcase. You will have the option to order your furniture from any of our appointed suppliers who will in turn deliver directly to your apartment leaving you free to bask in the opulence of your new surroundings.

RETAIL
IFA Hotels & Resorts has appointed Retailcorp to source unique international restaurants and retail shops for the Golden Mile, which will become one of the finest culinary destinations in Dubai. It will comprise of the world's leading upscale restaurants, outdoor cafes and formal dining eateries, all located on the waters edge of The Palm canal.

REGULAR UPDATES
The first issue of our bi-monthly newsletter ŒIFA Times¹, was distributed in March. Through ŒIFA Times¹, we are providing news about the various projects that IFA Hotels & Resorts are involved in around the globe as well as updates on our existing projects.

We are particularly proud of our recent listing on the Kuwait Stock Exchange and IFA Hotels & Resorts South Africa listing on the Johannesburg Stock Exchange, proving that our strategic alliances with world class hotels and developers is bringing us to the forefront of the property development industry.

IFA Hotels & Resorts is here to facilitate you with the smooth handover process of your property, providing personal service that is second to none..
Starting on your arrival at Dubai International Airport where one of our friendly staff will be waiting to whisk you off to your new apartment.

CUSTOMER SERVICE CENTRE
IFA Hotels & Resorts Customer Service Centres, sole purpose is to assist you in any way we can and is managed by a dedicated Customer Service team.
Whether it be general or sales enquiries, construction progress or product updates, the Customer Service team is here exclusively for you.

Our Customer Service team looks forward to being able to provide a timely response to all your enquiries by utilising the expert advice of our professional colleagues enabling accurate and speedy updates.

Our Customer Service Centre contact details are listed below:

Tel : +971 4 391-2022
Fax : +971 4 366-4644
Email : info@ifahotelsresorts.com

When contacting our Customer Service Centre please have the building name and your apartment number on hand to assist our personnel in attending to your query as fast and effectively as possible.

We look forward to being of service to you in the future.

With our best regards
Customer Service Department

http://img274.imageshack.us/img274/7725/149636344e3ef82e024b7qt.jpg

foundation seems to be well underway.

Al Shafar wins Dh990m project

Dubai: Al Shafar General Contracting, one of the UAE's leading contractors, has won a Dh990 million contract to construct the Golden Mile on the Palm Jumeirah, taking its current orderbook to Dh4 billion, said a top company official.

Some 10 projects are in the Dh300-Dh400 million range. Recently it won a 42-storey Citadel commercial tower at Business Bay.

Emad Azmy Gendi, managing director of Al Shafar General Contracting, told Gulf News, that despite prices on raw materials nearly tripling over the last few years the Dubai contracting market is unfazed and poised for even higher growth, predicts the managing partner of one of the largest general contractors in Dubai.

"Steel prices have risen from Dh800 ($218) a ton in 2002 to the current price of Dh2200 ($600) because of strong demand from China and Europe," he said.

Other metals such as copper and aluminium have seen similar price hikes, he said.

Because contractors bid for fixed-price contracts a sudden rise in prices can turn a projected profit into a loss. But the metals price increase has been gradual, allowing Al Shafar to price it into their bids, Gendi said in an interview at his office in the Al Safena Building in Oud Metha. Gendi, who co-founded the company in 1989, said metal prices have nearly stabilised and he even predicts worldwide demand to slacken in the fall, when the pace of new construction slows in colder climates, such as Europe.

At the same time, new projects in Dubai appear to be increasing, leading to robust business for the large contracting firms in Dubai.

Despite speculation that the market for residential units is nearing capacity, interest in tourism, educational and free zone developments appears strong, said Steve Brice, head of Middle East research for Standard Chartered Bank in Dubai.

"Residential real estate I think is nearing saturation, but clearly the size of projects still coming on stream is colossal, with the best recent example of this being the Dh100 billion (Bawadi) resort strip being the best example of this," he said.

Gendi wouldn't reveal his company's revenues but pegged profit margins at five to six per cent per project. Al Shafar currently employs 6,500 labourers and continues to hire more, Gendi said.

Gendi said he hoped to increase profits by upgrading machinery with the most advanced cranes, scaffolding, and hoists that should reduce manpower needs.

On Sunday, the company revealed a new logo with great fanfare at the Al Falak Ballroom at the Burj Al Arab Hotel.

The move comes at a time when Al Shafar is attempting to expand throughout the Gulf and perhaps further afield, according to a company spokesman at the event.

Just received following email from IFA

Dear customer,

Firstly, IFA Hotels & Resorts wish to take this opportunity to wish all our clients a very happy New Year and we extend our warm wishes to both you and your family. Now that life has returned to normal after the holidays and festivities, we are pleased to provide a project update following up from our newsletter issued September 2006.

As you will no doubt be aware, there a number of amazing real estate developments under construction in Dubai however properties on The Palm Jumeirah are most certainly considered the most prestigious in the UAE and desirable world wide. International investors and home owners are encouraged by the steady rise in property prices which have increased considerably since 2002 when property first became available to foreign investors. The market is still highly competitive compared with similar properties available in other European destinations and prices are set to continue rising throughout the foreseeable future.

Mortgages are available to prospective purchasers and it’s advisable to shop around as the market is quite competitive. Currently, local mortgage rates vary between 8 % and 8.5% and institutions will normally lend 65% to non-residents and 90% to residents.

The Palm Jumeirah is on track to welcome some of its first residents during the first quarter 2007 and the development has units ranging from one bedroom apartments to seven bedroom signature villas complete with private beach. In total, it is reported there will be 1,500 villas and 2,500 apartments in conjunction with several hotels, retail outlets, a monorail and a marina. The development is taking shape at a phenomenal pace and the sheer size and scale of The Palm Jumeirah is quite simply breathtaking.

In reference to the Palm Golden Mile construction progress, you will recall that all necessary building permits and approvals were received and work continues to progress at pace. The Palm Golden Mile 2 structure so far complete: the two basement areas, double volume retail area, office floor and first floor of the apartment level for buildings 8,9 and 10 and in buildings 1 to 7 the structure is complete and the retail area is being built. Installations for utilities, gas water and electricity, are complete and further services connection will be aligned with construction. The town houses and retail area structures are complete and key project milestones are regularly being achieved as per schedule. At the mezzanine floor, the health club pool structure is in place and work continues on the health club construction. The monorail track is being assembled and supporting concrete girders are being erected which will hold the monorail track and train. The tunnel to crescent is nearing completion and can only be considered as one of the most remarkable engineering accomplishments in Dubai. Basement level 3 is in progress for the six buildings on Golden Mile 1.

Construction Statistics:

2,300 piles up to 1,200mm diameter to a depth of 14 metres piling works installed
450,000 cubic metres of soil excavated to form the underground basement car parking areas
We have blinded an area of 60,000 square metres with concrete
Currently 2,000 men working on site to increase to circa 5,000 over the coming months
Work on site continues 24 hours a day 7 days a week
100,000 m3 of concrete poured in foundations and structural works
3,500 m2 block work complete
Electrical and mechanical services installations in progress

Having visited the Palm Golden Mile during the second week in January, I can confirm building on site is truly amazing. The advanced construction since my last visit in December is incredible. I remain confident you would also be inspired were you standing on the Palm Golden Mile mezzanine floor looking at the pool, available retail space, and townhouse structures whilst absorbing the Shoreline apartment’s skyline – history in the making! You will be pleased to know that the Master Developer has introduced two pools and two health clubs for the Palm Golden Mile 1 & 2 at no additional cost to you. Having carried out several site inspections, we felt that to enhance the overall resident occupation experience, the inclusion of the Health Clubs, treatment rooms and pool, was a fantastic compliment to this superb development. Membership will be available to residents to ensure exclusivity and beach club membership will be available for any of the several beach clubs located on The Palm Jumeirah. IFA Hotels & Resorts will also be relocating to the Palm Golden Mile once complete and this is also a very exciting for us.

You will have received notice in January informing you that IFA Hotels & Resorts has been in the process of relocating from the Dubai Technology and Media Free Zone to the Jebel Ali Free Zone here in Dubai. As a result of this relocation Souq Residences FZ-LLC is now referred to as Souq Residences FZE, to signify the fact that it now operates as a Jebel Ali company for all future purposes and correspondence.

For resident and visitors of Dubai, we invite you to visit our soon to open Sales Centre opposite the Burj Al Arab where you can meet with IFA Executives who will be delighted to see you.

...and finally she rises...dubayyy

http://i12.************/2el40ht.jpg

those updates in the email seem to be pretty recent. good to see a structure coming up now..

we will also be able to see exactly how wide the canal will be then.

those updates in the email seem to be pretty recent. good to see a structure coming up now..

we will also be able to see exactly how wide the canal will be then.

What Canal - there isn't one now.. See PJ thread for details. I was there last week, was looking at it from an angle but they did seem to be very close to the shorelines, the "park" that will replace the canal will be extremely narrow I think.

how should i have known..

With all the recent problems associated with Nakheel/The Palm (delays, proposed service fees, trunk re-design, etc), I think it is important that there is a site available for both current and future owners to discuss issues related to owning/living/renting on The Palm. This will become even more important as The Palm goes from a "Skyscraper City" development to a completed facility where we live each day.

In an attempt to service the community (and my neighbours), I have requested a distinct forum for owners on The Palm. The website address is:

http://www.totallyproperty.com/palm-jumeirah-jebel-ali-deira-dubai-owners-group-forum/

Please have a look and contribute as it will hopefully become YOUR forum to discuss various issues related to The Palm and Nakheel as we go forward over the years. It would also be wonderful if some (esp Imre, the picture king) could include a few pictures on the site to add some initial depth.

Have a look and let me know what you think. If it is not of value to The Palm owners over the next few months I'll have it removed. All comments appreciated.

Best to all.

Looks like the Golden Mile is rising:)
http://i9.************/47mw7jm.jpg

The Palm Golden Mile Project Update – April 2007

In this update on The Palm Golden Mile, we’re pleased to announce that 30 percent of the overall Palm Golden Mile (structure two) is now complete.

The structure now comprises two basement areas, a double volume retail area, an office floor; and, in buildings 8, 9 and 10, the fourth floor of the apartment level. The townhouses and retail area structures are also complete for buildings 8 through 10. In buildings 1 through 7, the structure is complete and the retail area is currently being built. At the mezzanine floor, the health club pool structure is in place and work continues on the health club construction.

On the site of The Palm Golden Mile (structure one), basement level three is in progress for buildings 3 to 6, while basement level one is underway in buildings 1 and 2.

Installations for utilities, gas water and electricity, are still in progress and further services connection will continue to be aligned with construction.

Dotting the trunk of the palm are further signs of progress in the shape of concrete girder supports, which will hold the monorail track and train. The tunnel to the crescent of the island is also complete and can truly be considered one of the most remarkable engineering accomplishments in Dubai.

As mentioned in our last update, Nakheel, the Master Developer, has introduced two health clubs for Golden Mile one and two, each with their own pool at no additional cost to you. This latest change was introduced to enhance the overall living experience and to provide better facilities for residents of the Golden Mile.

With major pieces of its infrastructure in place and the residential aspects of the Palm Jumeirah beginning to truly take shape, the island’s first residents in the Shoreline Apartments continue to see their investments increase in value. This, in addition to Dubai’s continuing real estate boom, furthers the positive outlook for an exceptional return on investment for owners of The Palm Golden Mile. What’s more, as we prepare to hand over the keys to The Palm Residence (Al Nabat & Al Haseer), our first project on the Palm Jumeirah, we will enjoy the benefit of specific Dubai-based performance benchmarks for completed IFA Hotels & Resorts developments. Once collated and assessed, we will share these with you in a future project update.

Construction statistics:

Two thousand and three hundred piles measuring up to 1,200 mm in diameter and 14 metres in depth have been installed.

Over 450,000 cubic metres of soil has been excavated to form the underground basement car parking areas.

An area of 60,000 square metres has been blinded with concrete.

There are currently 2,500 men working onsite, which will increase over the coming weeks and months.

Work onsite continues 24 hours a day, 7 days a week.

One hundred thousand cubic metres of concrete has been used to form the foundations and structural works.

Three thousand five hundred square metres of block work is complete.

Electrical and mechanical services installations are underway.

As you have recently heard, IFA Hotels & Resorts has launched what will be its largest integrated, mixed-use development on the crescent of The Palm Jumeirah – Kingdom of Sheba. If you are in the UAE, we invite you visit our newly opened Sales Centre, opposite the Burj Al Arab Hotel on Jumeirah Beach Road to lean more about this project. Owners based in the UK and wising to lean more need only travel down to 13 George Street in London to visit our flagship European office, which opened just last week. Alternatively, you can learn more by visiting www.kingdomofsheba.com

We understand that you are very keen to receive your properties at the earliest possible occupation dates, and it is in our best interest to work closely with the Master Developer, Nakheel, to ensure this happens. We are working hand in hand with all key stakeholders, including local authorities, to ensure we fulfil obligatory legislative requirements. We appreciate that all changes and upgrades introduced to the Palm Jumeirah by the Master Developer, have been initiated to enhance the overall residential living experience of investors of the Golden Mile.

http://i14.************/2aeugds

On behalf of

Client Relationship Management Department

Could really do with some good photo updates to get a scale of progress.

Just noticed this from the new IFA web site:


"The Palm Golden Mile, launched in May 2005, is a joint venture between IFA Hotels & Resorts and Istithmar and is located on the western portion of The Palm Jumeirah trunk.

The project consists of 10 identical and interconnected 11 storey apartment buildings on separate plots."


11 floors!!...since when? These buildings are only supposed to be six storeys each.

06/May/2007

Fire on the Palm , I think at Golden Mile

http://img265.imageshack.us/img265/6782/imresolt03cx1.jpg (http://imageshack.us)

http://img155.imageshack.us/img155/3282/imresolt04ox6.jpg (http://imageshack.us)

http://img155.imageshack.us/img155/9089/imresolt05hv7.jpg (http://imageshack.us)

http://img263.imageshack.us/img263/4034/imresolt06cc8.jpg (http://imageshack.us)

http://img155.imageshack.us/img155/9025/imresolt07tv2.jpg (http://imageshack.us)

http://img175.imageshack.us/img175/4567/imresolt08lp4.jpg (http://imageshack.us)

http://img369.imageshack.us/img369/5435/imresolt09pf6.jpg (http://imageshack.us)

http://img263.imageshack.us/img263/7999/imresolt10zh5.jpg (http://imageshack.us)

http://img369.imageshack.us/img369/9794/imresolt11az0.jpg (http://imageshack.us)

http://img257.imageshack.us/img257/8568/imresolt12af1.jpg (http://imageshack.us)

Was someone injured?

i read something with 3 people

1 taken to hospital due to smoke inhalation

Just noticed this from the new IFA web site:


"The Palm Golden Mile, launched in May 2005, is a joint venture between IFA Hotels & Resorts and Istithmar and is located on the western portion of The Palm Jumeirah trunk.

The project consists of 10 identical and interconnected 11 storey apartment buildings on separate plots."


11 floors!!...since when? These buildings are only supposed to be six storeys each.

2 basement levels +1 retail level + 1 Commercial level + 6 Residential Floors + 1 Penthouse floor = 11 Floors

i guess it was some sort of electrical fault

^^ ^^ Was the fire on the golden mile ? I know my luck it was probably my villa. Ha Ha !!!! :bash: That wouldn't actually be that funny, i hope everybody is ok.

With all the recent problems associated with Nakheel/The Palm (delays, proposed service fees, trunk re-design, etc), I think it is important that there is a site available for both current and future owners to discuss issues related to owning/living/renting on The Palm. This will become even more important as The Palm goes from a "Skyscraper City" development to a completed facility where we live each day.

In an attempt to service the community (and my neighbours), I have requested a distinct forum for owners on The Palm. The website address is:

http://www.totallyproperty.com/palm-jumeirah-jebel-ali-deira-dubai-owners-group-forum/

Please have a look and contribute as it will hopefully become YOUR forum to discuss various issues related to The Palm and Nakheel as we go forward over the years. It would also be wonderful if some (esp Imre, the picture king) could include a few pictures on the site to add some initial depth.

Have a look and let me know what you think. If it is not of value to The Palm owners over the next few months I'll have it removed. All comments appreciated.

Best to all.

Hi Dune,
Thanks for pushing this for support. It is moving slowly and a lot of people are viewing but not so many registering. Hopefully it will take off like the International City Owners Forum (http://www.totallyproperty.com/international-city-dubai-owners-group-forum/) has soon.
Thanks Again,
Bob

The Palm Golden Mile Project Update – July 2007

In this update on The Palm Golden Mile, we’re pleased to announce that 39% of the overall Palm Golden Mile project is now complete.

The structure in the Palm Golden Mile 2 [buildings 7 to10] is now reaching penthouse level. At the mezzanine floor, the health club pool structure is in place and work continues on the health club construction. As addressed in our last update, the townhouses and retail area structures are also complete for buildings 8 through 10. Block work and plastering in townhouses and on apartment floors is also in progress.

In the Palm Golden Mile 1 [buildings 1 to 6], the structure is now complete up to ground level and the retail area is currently being built. Building 1 is complete up to the first apartment level. Block work, plastering and painting is ongoing in the basement areas and townhouses.

Installations for utilities, gas, water and electricity, are still in progress and further services connection will continue to be aligned with construction.

We are pleased to confirm that selected internal sanitary ware will be supplied by Villeroy & Boch with fittings by Grohe, and that as mentioned in our last update, two health clubs for Palm Golden Mile 1 and two for Palm Golden Mile 2 have been introduced.

Construction Statistics:
Two thousand and three hundred piles measuring up to 1,200 mm in diameter and 14 metres in depth have been installed.
Over 450,000 cubic metres of soil has been excavated to form the underground basement car parking areas.
An area of 60,000 square metres has been blinded with concrete.
There are currently 4,000 men working onsite.
Work onsite continues 24 hours a day, 7 days a week.
One hundred and thirty-five thousand cubic metres of concrete has been used to form the foundations and structural works.
Sixty thousand square metres of block work is complete.
Based on progress to date, our aim is to deliver both Palm Golden Mile 1 and 2 through a phased delivery starting in the second quarter of 2008. Closer to this time, we will be in touch with you to specifically communicate which buildings will be released on what dates.

IFA Hotels & Resorts, its contractors and the Master Developer Nakheel adhere to stringent safety guidelines. Unfortunately for many of our clients who are eager to see the building site, these safety guidelines also prevent any person not qualified or contracted from gaining site access. Although this can be frustrating we know that you understand that these measures have been put in place to protect everyone’s safety and trust that the photographs contained in this update will provide you with an overview of our progress on site.

Since our last update, IFA Hotels & Resorts officially launched its first YOTEL in London’s Gatwick Airport. YOTEL is a new hotel concept that’s redefining the global hotel industry and making travel more enjoyable. Designed upon the technology and advanced use of space seen in business class airline cabins and luxury yachts to realise the two tier YOTEL cabin system, YOTEL cabins come as ‘Premium’, (with a full size double bed) or ‘Standard’ (with a large single bed). Both cabins have enough room for two as well as en suite bathrooms and in-cabin entertainment. For more information on how you can upgrade your next stopover into a YOTEL experience, visit www.yotel.com


Kind Regards

On behalf of

The Client Relationship Management Department
IFA Hotels & Resorts

pics from the Nakheel

The Palm Jumeirah, Golden Mile

http://img84.imageshack.us/img84/4717/imresolt43kc8.jpg (http://imageshack.us)

http://img84.imageshack.us/img84/1958/imresolt44vj7.jpg (http://imageshack.us)

http://img140.imageshack.us/img140/4540/imresolt47qe8.jpg (http://imageshack.us)

Has anyone got pics of the Fairmont Residence on the trunk of Palm Jumeriah?

Could someone change the thread title? It's obviously more than 5 floors.

18/October/2007

Golden Mile

http://img512.imageshack.us/img512/5823/imresolt074wx5.jpg (http://imageshack.us)

Hi to all Palm Jumeirah Residents!

From reading through the messages posted on these threads it has become very clear that many of you are having problems! Not so much with the Snagging of your new property but more in relation to organization of property services. These have ranged from Insurance to Gardening and beyond.

With this in mind I would like to hear from you!

Please Post/Send me details of the Non Snagging problems that you have had ie furniture, cleaning, laundry services or any other property related services including Portfolio Management!

I look forward to hearing from you all and good luck in your New Homes!!!

If anybody is interested in renting my villa, Atrium Med' Garden home on Frond F it is now available for holiday lets. See www.holidayinluxury.co.uk
Thanks
Martin

referring to my previous post below is a pic of the palm jumeirah trunk model taken at cityscape

note the building 'shaped like atlantis' is actually the marina crown apartments

http://************/dxdyxw.jpg

what the hell is that building on the left hand side of the pic ?? ... it looks amazing !! ^^

The building on the left was canceled a long time ago.

Yes, that model is so old ...

Some pics of the show flat: (excellent 5* quality - lets hope its the "real" thing!)

http://img444.imageshack.us/img444/4717/dsc01736ws0.th.jpg (http://img444.imageshack.us/my.php?image=dsc01736ws0.jpg)
http://img444.imageshack.us/img444/3185/dsc01735rf4.th.jpg (http://img444.imageshack.us/my.php?image=dsc01735rf4.jpg)

http://img341.imageshack.us/img341/6031/dsc01733ot2.th.jpg (http://img341.imageshack.us/my.php?image=dsc01733ot2.jpg)

http://img341.imageshack.us/img341/1235/dsc01729wl7.th.jpg (http://img341.imageshack.us/my.php?image=dsc01729wl7.jpg)

http://img341.imageshack.us/img341/8186/dsc01728qh3.th.jpg (http://img341.imageshack.us/my.php?image=dsc01728qh3.jpg)

http://img341.imageshack.us/img341/8126/dsc01727vd8.th.jpg (http://img341.imageshack.us/my.php?image=dsc01727vd8.jpg)

http://img341.imageshack.us/img341/654/dsc01726ayx5.th.jpg (http://img341.imageshack.us/my.php?image=dsc01726ayx5.jpg)

http://img161.imageshack.us/img161/1192/dsc01724uc1.th.jpg (http://img161.imageshack.us/my.php?image=dsc01724uc1.jpg)

http://img341.imageshack.us/img341/7426/dsc01723tt4.th.jpg (http://img341.imageshack.us/my.php?image=dsc01723tt4.jpg)

http://img341.imageshack.us/img341/5548/dsc01722xq6.th.jpg (http://img341.imageshack.us/my.php?image=dsc01722xq6.jpg)

Dubai_Mark - thanks for posting these pics.

Glad to see IFA have finally completed the show apartment. theyve been at it for almost a year! But you are right the last time I seen it some 6 weeks ago the kitchens and bathrooms were in.

The quality is indeed fantatstic - well above even Emaar quality finishes and miles better thean the Shorelines.

It still amazes me that you can still pickup Golden Mile apartments for around 1200dhs/sqft on the resale market - when they are only a few months from completion.

See update received today below.

d



The Palm Golden Mile Project Update – February 2008



In this latest Palm Golden Mile update, we are pleased to announce that the overall project is progressing rapidly.



Please find below site photographs of the Palm Golden Mile 2, buildings 7 to 10, which have now reached roof level of the concrete structure. The internal finishes are in progress, the interiors are taking shape at pace and floor and wall tiles are currently being fitted. The external rendering of the buildings has started and the insertion of windows has commenced.


In the Palm Golden Mile 1, the structure has reached the penthouse levels in buildings 1 to 5, and 6th floor in building 6. Block work, plastering, painting and ceramic tiling are all ongoing while installations for utilities, gas, water and electricity are in progress in all buildings.

As mentioned earlier, IFA Hotels & Resorts, its contractors and Nakheel are duty bound to adhere to stringent safety guidelines on the Palm Jumeirah. Unfortunately, for many of our clients who are eager to access and view the project, safety guidelines in operation prevent any person, not qualified or contracted, from gaining site access. Although this may be initially frustrating, we remain confident you understand that these measures have been introduced to protect everyone’s health and safety. We trust that the photographs contained in this update will provide you with an overview of progress made to date, and if you are in Dubai you are now able to drive onto the Palm Jumeirah and see the progress from the main road.

A replica of a Palm Golden Mile unit is on display at the Burj Sales Centre and the mock-up will be completed this month for viewing. We welcome you to visit our sales centre at any time to see the apartment on show which will give you a taste of how your apartment will look. The sales centre is located on the Jumeirah Beach Road directly opposite the Burj Al Arab hotel.


On another note, we are delighted to have started handing over our first project on The Palm Jumeirah, The Palm Residence, during December 2007. Both IFA Hotels & Resorts and our investors have been very happy with the finished product, as we are sure you will be when we transfer your units at hand over.



Towards the end of last year, IFA Hotels & Resorts announced its entry into two new markets - the Netherlands and the US. The company is opening a third YOTEL hotel in Amsterdam Airport Schiphol. Construction of the 55 cabin YOTEL has started with plans to welcome guests early 2008. Two YOTELs are now open in the UK, one in Gatwick Airport’s South Terminal and the other in Heathrow Terminal 4.



IFA Hotels & Resorts made its first investment into North America by partnering up with leading US real estate developer, Related, to build a hotel in New York City. These two investments signify the company’s continued aggressive expansion into international markets.



Additionally, the Zanzibar Beach Resort has been refurbished and re-opened last November as a Fairmont property – the Fairmont Zanzibar. Guest may now enjoy a full African experience, from the continent’s famed snorkelling and diving to its safaris and beaches, within our East Africa collection.



The Dubai property market is becoming more sophisticated and is currently gearing towards international real estate standards which is great news for investors and developers alike. Near to the time of hand over, IFA Hotels & Resorts will be employing the services of a professional company to survey all units to ensure the actual size of your apartment is recorded for title registration with the Dubai Lands Authority. Details of the survey, once complete, will be issued at a later date along with an indication of other costs associated with transferring title, hand over and completion. Other costs include; Master Community/Service charges, Palm District Cooling (PDC - air conditioning), property registration, area adjustment fees and Dubai Electricity & Water Authority (DEWA) connection.



Near to completion and hand over, a surveyed floor plan will be issued as part of the hand over of your unit. You may be interested to know that various publications reporting on the UAE property market advise investors to set aside in the region of fifty to sixty thousand Dirhams in advance of hand over. This appears to be the average cost of transferring an apartment that is not subject to an area adjustment correction, however we will confirm once we are in a position to do so.

Where is the show apartment within the golden mile. Do you ahve to make an appointment or is it just open 9-5 . I will be in dubai in 2 weeks and would like to visit. thanks

Where is the show apartment within the golden mile. Do you ahve to make an appointment or is it just open 9-5 . I will be in dubai in 2 weeks and would like to visit. thanks

Its in the IFA Sales Centre, Jumeirah Beach Road, right opp the Burj Al Arab. No appointment needed.

One thing that baffles me is why the prices for golden mile are so much less then the park facing shorelines.

The build/ interior looks superior and golden mile owners will have a gym in their own building (no sharing between buildings) and will also have access to the beach through a beach membership. I guess the beach access is free for shoreline owners, but is that really worth the huge difference in prices.

I do not profess to know much about the dyamnics of the Dubai property market, but the difference does not seem rational. Any thoughts - anyone.

One thing that baffles me is why the prices for golden mile are so much less then the park facing shorelines.

The build/ interior looks superior and golden mile owners will have a gym in their own building (no sharing between buildings) and will also have access to the beach through a beach membership. I guess the beach access is free for shoreline owners, but is that really worth the huge difference in prices.

I do not profess to know much about the dyamnics of the Dubai property market, but the difference does not seem rational. Any thoughts - anyone.

^^I wouldnt worry about it. Until about 1 - 1.5 years ago Golden Mile apartments were worth more than park facer shorelines. Whats changed is that the shorelines are now largely complete and ready to live in whereas the GM is still a WIP and behind schedule.

As far as build quality is concerned, there is little that I have seen to suggest that GM is superior and who knows what the interiors will be like. In just about any Dubai project you care to name the interiors of an apartment are rarely as impressive as they are made to look in the brochures.

In terms of facilities etc I dont think there will be much advantage with either. Most will have easy access to similar things (beachclubs, shops, bars etc). I dont think having gym in each building will make much of a differnce as I'm yet to see such a gym that has any more than a few people using them.

Shoreline Type C (and type E to a lesser extent) parkfacers (or should I say 'road facers) now seem to be selling for more than than type A & F park facers despite being little bigger and largely only having a view of the roads. I think this is because they are 'round the back' not facing a building site anymore. I would expect that A & F types would probably surpass the type C's in value once the GM and the park has been finished. At this time - once everything is finished - you should see the value of GM apartments start to match the shorelines, or surpass them if the quality really is better. There's no logical reason why they shouldn't. The GM will, prove a good investment, just like the shorelines.

This has often baffled me also. I have some units here and follow the market closely.

I think the main reason is because these are now 90% paid up and probably still at least 9 months from completion. So anyone buying now would have to pay a hefty lump sum, including the premium, for an asset that will not produce any income for at least a year.

In my opinion GM has been under the radar of most investors over the last couple of years and hence prices have remained subdued. The investor rush has been on Dubai Marina and the BD Downtown. But I do know of two large investors who have been buying units quietly over the last few months and have now amassed almost 50 units at average prices of 1150 dhs/sqft. Bargain or what!

Not to mention that owners will also have the option to have their units managed by Fairmont and given access to all other IFA facilities on the Palm. Namely Fairmont Hotel, Kingdom of Sheba etc.

I believe this is the last bargain to be had in Dubai and I truly believe that the quality will be far superior to the shorelines (having seen the actual fittings in the show apartment). I also own a shoreline and the difference is chalk and cheese.

Prices have crept up over last few weks though and you can still pickup stock at around 1300dhs/sqft i think.

In my opinion these units will easily go to around 2000dhs/sqft on completion.

^^are there any photos of the show-apartment anywhere??

^^are there any photos of the show-apartment anywhere??

er..look above you (post #62)

er..look above you (post #62)

^^:doh:

I can see what you mean about the quality now. Looks superb

I see most of the GM, aside from building 6 are now topped out. Does anyone one know when completion is likely? Trying to get this information from IFA is impossible. They had suggested Q2 this year, but that is impossible given the current state of play.

As for completion, one other aspect that is concerning me is that the GM contracts have a clause which says IFA can charge you prorata for each additional sqf, if the size of the apartment is 5% (I think) more than contracted. Customers in the IFA shorelines have been receiving demands and the additional space is in the maid's room! Great value!

I also hope that IFA do not adopt the same money spinning techniques that Nakheel used on the shorelines. The PDC capacity charge (for the capital cost of the cooling system) is one example which I know is still being debated by shoreline owners.

Pilling works commenced next to GM at the trunk end. Any idea what is it ?
Regards

I see most of the GM, aside from building 6 are now topped out. Does anyone one know when completion is likely? Trying to get this information from IFA is impossible. They had suggested Q2 this year, but that is impossible given the current state of play.

As for completion, one other aspect that is concerning me is that the GM contracts have a clause which says IFA can charge you prorata for each additional sqf, if the size of the apartment is 5% (I think) more than contracted. Customers in the IFA shorelines have been receiving demands and the additional space is in the maid's room! Great value!

I also hope that IFA do not adopt the same money spinning techniques that Nakheel used on the shorelines. The PDC capacity charge (for the capital cost of the cooling system) is one example which I know is still being debated by shoreline owners.

AFAIK - completion on buildings 7-10 wil be end Q3 and Buildings 1-6 end Q4 (although more likely Q1 09)

What does AFAIK stand for?

What does AFAIK stand for?

As far as I know it's Arabic, but no idea what it means.

As far as I know it's Arabic, but no idea what it means.

Nearly RH,

AFAIK=As Far As I Know

Which you used in your reply so could be seen as a great pun

As far as I know it's Arabic, but no idea what it means.


Haha...:lol:

Well played :cheers:

Nearly RH,

AFAIK=As Far As I Know

Which you used in your reply so could be seen as a great pun

Oh, really Dave, thanks for putting me straight there :ohno:

18th March

Near Khuskar
http://img296.imageshack.us/img296/271/cimg3818yi2.jpg

Near Hallawi
http://img247.imageshack.us/img247/563/cimg3845qe1.jpg
http://img296.imageshack.us/img296/2640/cimg3840kd4.jpg

AltTab

Can we change the title of this thread... the 5F res is a bit off the mark... is it not about 11 floors in total? shops & restuarants, residential & penthouse floors.

I must say, this is slower than I expected.

27/03/08
slowly but for sure, they are coming
http://farm4.static.flickr.com/3237/2365921977_07532ab28e_o.jpg

Anybody ever have any payment issues with the IFA? If there is delay in making a payment then understandably there is a 1% interest accrued. The only issue here is that it does not state anywhere how long this goes on for until the IFA 'cancel' the unit, which means that they will take it off you with 40% expenses. Nakheel had a clear cut policy on this where they gave you 6 months before they took action. I called the IFA and they said they would only give you an extra month before they did this. Sounds a bit harsh?

Some more pics of the show flat here:

http://ifahotelsresorts.com/news-information/imagegallery/projects.aspx?pid=4&project=The%20Palm%20Golden%20Mile

06/04/08
http://farm3.static.flickr.com/2272/2394235056_f3d71ba1b1_b.jpg
http://farm4.static.flickr.com/3119/2393401719_767e8f6ddf_b.jpg
http://farm4.static.flickr.com/3253/2393400493_1cc03eeffb_b.jpg

^^Is that the GM ? Doesnt look right. Whats that construction work between the road/path and the building on the left of the first photo?

Think photos might be of the Fairmont Residence (except for the photo directly above).

hey, I was also a little bit vonfused when I first saw the pictures but finally I decided to put themn here 'cause i thought it would fit best in here. I have to say that I'm not a real expert in all these Palm Jumeirah apartments but maybe you can put the picturs in the right threads and tell me which ones don't belong here, thanks!

Hi everyone! I just registered on this web site a few minutes back, thanks to you guys...I tracked your discussions and they made me realise that my husband and I should buy an apartment in the Palm and move here! Would any of you be interested in selling a 2 bed (1582sq ft or smaller) at the Shoreline or the Golden Mile to ourselves? Pls do let me know!

Covers have come off Building 10 exterior looks better than shorelines

http://img527.imageshack.us/img527/1007/dsc00897od6.jpg
http://img249.imageshack.us/img249/1448/dsc00895ky7.jpg

AltTab

:)Pilling works commenced next to GM (building # 10) at the trunk end. Any idea what is it ?
Regards

Nad A - are you looking to sell your apt?

http://img155.imageshack.us/img155/4853/cimg4272bi5.jpg

AltTab

^^

Fantastic pics Alt Tab. I guess building 9 has been delayed by the fire of a few months ago.

If you are still out there any chance of close-ups of Building 10?

Much appreciated.

Thanks
d

http://farm3.static.flickr.com/2329/2423347312_273475fe3e_b.jpg

Hi All,
Whilst it appears that the Golden Mile is developing quite nicely, does anyone know when the IFA will start handover? I spoke to a few relatives/friends out there who are in the construction field and they reckon that can take around a year from this point depending on what they handover first. I think officially they are to be handed over in Jul 2008, this obviously sounds too soon.

Has anybody else had a call from IFA asking if you would like to sell your apartment? Apparently, they have a client looking to buy.

[QUOTE=Nad_A;19916514]Hi All,
Whilst it appears that the Golden Mile is developing quite nicely, does anyone know when the IFA will start handover? I spoke to a few relatives/friends out there who are in the construction field and they reckon that can take around a year from this point depending on what they handover first. I think officially they are to be handed over in Jul 2008, this obviously sounds too soon.[

They say they will deliver buildings 7-10 in autumn 2008 and the rest in spring 2009 but it does not add up as building 1 is in more advanced stage than building 9 so better wait and see.

[QUOTE=houshang;19931236[
They say they will deliver buildings 7-10 in autumn 2008 and the rest in spring 2009 but it does not add up as building 1 is in more advanced stage than building 9 so better wait and see.[/QUOTE]

OK thanks for that - lets hope that this schedule is adhered to.

Has anybody else had a call from IFA asking if you would like to sell your apartment? Apparently, they have a client looking to buy.

Yes - I have had a few calls from them and sold one apartment through IFA directly. Beware though it can take a couple of months before you see your cash as internally IFA take an age to process the paperwork.

dubayyy, what kind of premium are IFA paying? I had a voicemail from them and wondering if its worth calling them back! thanks

Pilling works commenced next to GM Building #10 at the trunk end. Any idea what is it ?
Regards
http://img293.imageshack.us/img293/5233/palmmallpalmjumeirahze2hg0.png (http://imageshack.us)

^^

Its Golden Mile 3 - an office block.

25/04/08
http://farm3.static.flickr.com/2042/2451417395_c9f486dc67_o.jpg
http://farm3.static.flickr.com/2281/2477392123_56cc7fc9d5_b.jpg
http://farm3.static.flickr.com/2208/2477392147_b8dec72bc8_b.jpg

^^

Its Golden Mile 3 - an office block.

Thanks;

but never heared about it. Any idea whethere it's owned by IFA or not and what is the price Dhs/SqFt ??

Regards

^^

Although called GM3 - this is a working title and it will be developed by Nakheel.

Still to be finalised and released - so no pricing information yet.

Hi All,
I have noticed that the GM prices in general are creeping up. I can see in Edward and Towers website that a 2 bedroom 'C' type is now over the 3 mill AED mark. What do you think about the pricing of units in general. Obviously the higher you go the more the premium goes up, but how about about location? Will being immediatley next to the Trump tower raise prices? will facing the Fairmont resort do anything for premiums? or will the earlier buildings be more expensive e.g GM1 & GM2 etc.? I am curious to see what happens with the prices once the handover is announced. I know that some people have been contacted by IFA for resales, any idea what kind of prices are being offerred by them?

Prices are moving fast here - no doubt/

3 months ago IFA were offering 1250dhs/sqft on resales now they are up to 1550 dhs/sqft for road facing units. I get calls on a weekly basis from them.

I think on completion these will be worth 2000 for road facing and 2500 for park facing - easily.

Just heard, from a broker friend, that IFA will be auctioning Golden Mile commercial/retail units in late June in Dubai.

Expected prices are 5,000 - 10,000 dhs/sqft!!!!!

Hold onto your residential units for the time being. Prices will no doubt jump after this event.

Further delays have been announced for GM:

Buildings 7-10: early part of Q2 2009
Buildings 1-6: later part of Q2 2009

Not great news, but looking at the pictures of construction, this was to be expected.

EllisDon Dubai has been awarded the Project Management contract for The Golden Mile 3 in Dubai, United Arab Emirates.

The project consists of a 13 level mixed use office/retail building located in a prime location on the prestigious Palm Jumeirah Trunk which will encompass some of The Palm’s most premiere office space. The building is conveniently located adjacent to the RTA Monorail and is neighboring the Village Centre (high-end retail/ residential/ entertainment development) and Golden Mile 2 (mixed use high-end residential/retail) with the fashionable shops and trendy restaurants along the Ground floor promenade opening onto the park. The development is comprised of 3 levels of basement parking for 271 cars, a ground level promenade comprising a retail center, and nine levels of shelled-out office space.

The Golden Mile 3 has been designed using an eclectic mix of traditional Arabian Gulf architecture subtly blended with very modern materials and features to create a structure which is unique yet still remains complementary to the traditional architecture of the surrounding buildings.

The project is aiming for leed certification.

EllisDon has been on site since September 2007, with the project commencing on Jan 17, 2008 and is expected to be completed by June 12, 2009.

Nakheel has decided to auction (instead of selling) the office space on the project. :nuts:

^^ Yes, and u can bet this office space will fly off the shelf too.

http://www.gowealthy.com/gowealthy/wcms/en/home/news/real-estate/Nakheel-1212912583617.html

IFA Hotels & Resorts and Nakheel auction Dhs300m offices and residences on Palm Jumeirah

http://i29.************/hs983r.jpg

Freehold office space and residential penthouses on Palm Jumeirah went under the hammer yesterday at an auction managed by IFA Hotels & Resorts and joint venture partner Nakheel.

United Arab Emirates: Sunday, June 22 - 2008 at 16:21

The sale of approximately Dhs300m at The Palm Golden Mile marks the first availability of freehold office space at one of the world's most prestigious new addresses.

Investors secured office space in four out of ten buildings on The Palm Golden Mile site, where the highest selling price on the smaller lots reached Dhs7, 250 per square foot. Approximately 15% of the total amount of office and retail space in the ten buildings was sold, which was the only available space offered during the auction.

'The success of the inaugural commercial property auction for The Palm Golden Mile has now created a benchmark for the value of office space in this premium location,' said Werner Burger, President and COO, IFA Hotels & Resorts.

'As a place to conduct business as well as an investment, office space on the Palm Jumeirah has been demonstrated as a 'must have' for both international and regional brands. Some corporate offices are still being negotiated; we foresee multinationals setting up their corporate headquarters and acquiring full buildings in The Palm Golden Mile,' added Burger.

A capacity crowd of Middle East-based and international bidders competed aggressively at auction to secure the commercial and residential offerings on The Palm Golden Mile, located on the western portion of the Palm Jumeirah trunk.

'The appetite shown yesterday by investors for commercial property within The Palm Golden Mile bodes extremely well for future offerings from both Nakheel and IFA Hotels & Resorts. We anticipate that these buildings will be the premier business addresses within Dubai,' stated Yousuf Kazim, Managing Director, Nakheel Joint Ventures.

The Palm Golden Mile will encompass a mix of commercial space, residences and a retail area with vibrant shops, restaurant and cafes, creating some of the finest real estate offerings in one of the world's premier resorts. The internationally known Trump International Hotel & Tower is also centrally located at the heart of The Palm Golden Mile.

http://www.ameinfo.com/161166.html

The Palm Golden Mile Night Club coming soon!! :D

According to the render (post 102) there is only one building, but the article states that office space in 4 out of ten have been sold....what's the deal with that? are they talking about office space in the 10 residential buildings or is this a new project?

Any idea when this is supposed to be completed?

From what I understand, there is something like the following in each of the 10 buildings;

2 floors retail
1 floor office space
5 floors residential
2 floors Penthouse

There is certainly not just the 5 residential floors as per the thread title.

Completion was Q4 08 & Q1 09 but has apparently slipped (Q2 & Q3 09 now?).

You'd think they'd work harder if they were behind schedule… but there is not much night activity on GM now. Seems to be just a day shift working now.

Went to see the show apartment this week at IFA's offices opposite Burj Al Arab and have to say was very impressed. Finishes are excellent - floor, doors, kitchen and bathroom - all top drawer. This puts the shorelines to shame.

For my C type in building 5, IFA say they have cash buyers at AED3.5m, which is just under AED2000 sq. ft. Prices are rising nicely and with completion a year away, IFA expect AED2,500 sq ft minimum on completion, but expect closer to AED3,000 sq ft. Can't wait.

Trunk work


MEP contractor Drake & Scull is currently undertaking three of the largest projects underway on the Palm Jumeirah in contracts worth a total of more than $272 million; common to all is the need for co-ordination and good logistics.

Golden opportunities

The Golden Mile is aptly named. Stretching for a full mile along the length of the trunk of Dubai's Palm Jumeirah, the development's Souq Residences project comprises a total of ten 13-storey buildings.

Primarily a residential development, the project is split into two stretches, with six of the interconnecting buildings located on one side of the site of the future Trump Hotel and the remaining four on the opposite side.

Drake & Scull International (DSI) won the contract for the MEP works in the Souq Residences in competitive tender and the project is now well underway, with the first commissioning of services due to begin this summer.

The project will be completed in phases, with each building handed over individually.

Services solutions

MEP services for the project have in general been divided into five, with a set of basement plantrooms each feeding two adjacent buildings, explains DSI operations manager Naser Yaseen.

A total of 12,500TR of cooling is provided via the Palm District Cooling chilled water network that serves the overall Palm Jumeirah development. This is evenly distributed across the project, again with five dedicated stations serving the ten buildings.

The chilled water is distributed by a series of risers to a total of around 100 air handling units (ahu), with local air conditioning within the apartments being provided by fan coil units.

These methods were chosen to match the layout of the buildings, explains Yaseen.

The total 37MW electrical load will be provided by seven substations that have varying loads according to the building demands.

Four substations comprise six 1,500kVA transformers; one has four 1,500kVA transformers; the others have two 1,500kVA units.

Distribution from the main electrical rooms is by a combination of cables and busbar, depending on location and the distance to the local distribution boards. For example, if the main electrical room serving buildings one and two is sited under building one, then distribution to building one will be via cables, and busbar will be used to supply power to building two.

Co-ordinating works

The primary challenge for the services installation on the project is the sheer scale and the co-ordination that this requires. Yaseen explains: "The total area [of the project] is unusual and the total spread of area - to travel from building one to ten takes a lot of time - so it's basically logistics that's the biggest challenge."

Golden Mile Building 10 and Palm Marina Residence in background
http://img521.imageshack.us/img521/2374/cimg4601cu0.jpg

Trump plot
http://img411.imageshack.us/img411/797/cimg4602md3.jpg

AltTab

what a great view your going to have of the trump building, mono rail, not to mention when the land scaping is done one day.

August update
IFA will start handing over Golden Mile1 (buildings 1-6)in June 2009 and Golden Mile2 (buildings 7-10) in April 2009 on a timley basis.

Does anyone have any information as to when the landscaping of the park area is to commence?

If handover of GM is from April 09, will the landscaping be done around this time (once building & interior is completed and the materials etc that are outside the buildings have gone)?

Isn't the mile done btw?? :hm:

Funny shot of the excavation around Trump. Those pylons look quite naked!

http://imgcash1.imageshack.us/Himg583/scaled.php?server=583&filename=304899347110b44b8965bej8.jpg&xsize=640&ysize=480

Funny shot of the excavation around Trump. Those pylons look quite naked!

http://imgcash1.imageshack.us/Himg583/scaled.php?server=583&filename=304899347110b44b8965bej8.jpg&xsize=640&ysize=480

That's not Trump, it's the village centre further up the trunk.

http://assets.cdn.nakheel.com/palmjumeirah/assets/images/about-palm-jumeirah/big_pic_5.jpg?878794

You mean this? The mall?

I am looking at the furniture package that has been offered by IFA. Is anybody else taking this up? Any thoughts on whether this is good value?

^^ Correctamundo....to Paul's post.

^^ Correctamundo....to Paul's post.

Nice.

It must be fun to live in a place where you can take a monorail to shop. When they expand the line to hook up with the red line metro, you can leave your car at home when you travel or shop at a more distant mall. Cool.

Does the Village Centre have a Tread?

Golden Mile hand over date has been brought forward as follows:

-Golden Mile 2 (buildings 7-10) February 2009
-Golden Mile 1 (buildings 1-6 ) April 2009

The owners are invited to carry out the snaging during this month(December)

Has anyone snagged their unit yet? If so, what sort of finishing are we to expect and were there many issues?

This is true about the December snagging. We've been given two dates, either the 20th of Dec, or the 24th to come in and inspect building 6.

Shane

I have to correct my previous post as IFA just advised me of the following:

Snagging in December only relates to Golden Mile 2. The one for Golden Mile 1
to be announced soon.

I am looking at the furniture package that has been offered by IFA. Is anybody else taking this up? Any thoughts on whether this is good value?

Well I paid over £34k for my package over in the Shoreline apts - I think I could have purchased better for around £20k but I had to have the official package in order to participate in the Fairmont rental scheme!

^^

Sandbanks

Has the Fairmont rental scheme been any good? I am also due to take possesion of a GM unit in phase 2 and am wondering whether its better to just furnish myself and let out through a third party and bypass Fairmont altogether.

IFA are quoting 300k AED to furnish a 2 bedroom to join the Fairmont scheme. In contrast I furnished a 2 bed shoreline for 120k last year and am achieving decent rentals through Edwards and Towers.

Thanks
d

I decided to buy the IFA furniture package so I could participate in the Fairmont scheme, however, had a call from IFA yesterday telling me not to send money as they have not had the minimum 50 orders they needed. They plan to look at alternative packages and said they would in touch soon.



^^

Sandbanks

Has the Fairmont rental scheme been any good? I am also due to take possesion of a GM unit in phase 2 and am wondering whether its better to just furnish myself and let out through a third party and bypass Fairmont altogether.

IFA are quoting 300k AED to furnish a 2 bedroom to join the Fairmont scheme. In contrast I furnished a 2 bed shoreline for 120k last year and am achieving decent rentals through Edwards and Towers.

Thanks
d

For a Shorelines I have seen a nice furnising packages from Dubai Rental Services. I think this will fit very nice in GM as well. For a 2 bedroom they charged arround 150.000 only. I have send a request for more information...

Sounds much better then the 300.000 from IFA :)

They have also some more services as snagging and keyhandover..

Hi dubayy
Do u know how much is the percentage of occupation aproximatley of the unit managing by Edwards and towers?
Thanks^^

Sandbanks

Has the Fairmont rental scheme been any good? I am also due to take possesion of a GM unit in phase 2 and am wondering whether its better to just furnish myself and let out through a third party and bypass Fairmont altogether.

IFA are quoting 300k AED to furnish a 2 bedroom to join the Fairmont scheme. In contrast I furnished a 2 bed shoreline for 120k last year and am achieving decent rentals through Edwards and Towers.

Thanks
d

I decided to buy the IFA furniture package so I could participate in the Fairmont scheme, however, had a call from IFA yesterday telling me not to send money as they have not had the minimum 50 orders they needed. They plan to look at alternative packages and said they would in touch soon.

Not surprised thay havent had much interest given their pricing which is completely unrealistic in today's market.

If they manage to source a more reasonable priced package I would consider it. But I would not pay more than 150k dhs to furnish a 2 bed unit.

Does anyone know more about IFA renting out 2BR Golden Mile apartments? It seems this is getting to the market, but have a hard time finding the info, nor do not get IFA on the phone.

Does anyone know more about IFA renting out 2BR Golden Mile apartments? It seems this is getting to the market, but have a hard time finding the info, nor do not get IFA on the phone.

Do a site inspection of the appartments.... u will c why they dont answer the phone.....

Do a site inspection of the appartments.... u will c why they dont answer the phone.....

dxbdude

have you seen the apartments? - the show apartment looked great - are they finished to a similiar standard?

from your comment i fear not - please elaborate

thanks
d

I'd love to see some pictures of where the Golden Miles are at now, and what handover is looking like. See some in the Gulf News at 1150 AED. Know a friend who got an offer of 1950 AEd for his Oceania there. Cant see the big disparity fro just a view.

Any other market evidence out there??

S

I'd love to see some pictures of where the Golden Miles are at now, and what handover is looking like. See some in the Gulf News at 1150 AED. Know a friend who got an offer of 1950 AEd for his Oceania there. Cant see the big disparity fro just a view.

Any other market evidence out there??

S

i got offered 12 of them at 900 aed psft. pm with ur email address and i will send u the mail i got.

No havent seen them but from what i understand they were very expensive at launch - for the time - and you were told they were state of the art with marble floors etc... no marble - ceramic - nothing state of the art just standard and finish poor. if your an owner do an inspection b4 u accept delivery.

oceana risky, who knows when it will finally complete..... eveyone is going bust.

oceana risky, who knows when it will finally complete..... eveyone is going bust.

Hi DXB Dude

Have you heard something about Oceana? I was sent the foll update by them a couple of weeks ago:

http://web.asteco.com/resources/esho...21_oceana.html

IFA did not say that floors would be of marble and that is for sure. I have seen the show apartment and I found it of a good standard. The building looks good from outside and that is all we can say at this stage and should leave the rest for when we get chance to see the inside of a finished apartment. IFA is one of the best developers in Dubai and btw I bought mine at fifth floor for AED755 psft so not that expensive:bash:

The finishes are excellent, My friend did his snagging last month and was very impressed. I saw pictures of a 1 bed in building 7. Looks excellent.

They seem to have a more "Emaar" finish than any Nakheel project!

05/1/09

http://i40.************/14l4eg.jpg

Could anyone give me an idea of the kind of rents being acheived for an unfurnished 2 bed apt on PJ? I have a 2 bed in GM which I should get my hands on in Q2. Also, any advice as to which agent to use to let the apt? IFA have a tenancy management service and that sounds expensive at 6% of the rent, plus a host of other charges every time they are needed to lift a finger.

Any advice would be welcome.

Thanks

well Balkar,
I've just deleted 9 emails from t*sser agents promising to have tenants and/or investors waiting with cash. They all leave an email address but 90% of them dont have associated websites or landline numbers so basically most of them are just operating out of a suitcase. I wont say much more as I know this subject has already been addressed on this thread in recent weeks.

I'd say its best to deal with the guys who've been in it from the start, e.g. Edwards & Towers or Better Homes. I use Better Homes and they charge you 5% and the tenant 5% for a longterm let but there's no other charges. Had no issues with them to date, they've been reliable and respond to my emails so I've not really got an excuse to change. I'd say the majority charge the landlord in the region of 5% so if I did give them the elbow then it would be for precious little gain. There's plenty of people on here who rent their places out and I'm sure you'll get many more suggestions but be wary as there's been one or two incidents of agents or their representatives canvassing on here (..and no I'm not one...).

The Golden Mile should be done or not??!! Altin, Imre?? Take this thread to the complete section, if it's right ! Thx a lot

topped out but not complete... handover is April for 1 set and June for the 2nd set as far as I was aware... ?

Handover for GM2, that is buildings 7,8,9 and 10 starts in March.

will they have licenced bars underneath like shoreline?

Company Long Term Management Fee Landlord Paid (Unfurnished) Short Term Management Fee Landlord Paid (Furnished)
IFA/ Fairmont Palm Hotel 6% 15%
The Specialist 6% Service Not Available
Better Homes 6% 20%
Asteco 10% Service Not Available
Edwards & Towers 10% 25% (2009-suspended)

http://www.flickr.com/photos/35070457@N02/3253930098/

Site blocked!

^^ It's the same table he posted earlier with service fees.

http://i42.************/256zabr.jpg

http://i41.************/2w6szdu.jpg

http://i40.************/10wm91y.jpg

http://i44.************/2aglrfr.jpg

http://i43.************/o7spi1.jpg

http://i41.************/27zi8b7.jpg


http://i44.************/25ro28o.jpg


http://i41.************/qwy4x4.jpg

Maltster
You came back with great pictures.
With Golden Mile near completion, hope your Park view will improve in a very near future.
thanks

Great photographs of the GM Maltster - and taken from the balcony of your F-type if I'm not mistaken!

Like you, I can't wait to see the GM finished so the landscaping of the Park can be done. On your photos I notice tipper lorries filling in the Trump foundations ready for temporary landscaping of the central area.

Any word on when the park landscaping will begin?

All the best.

Salty

:)

Hey Salty and Malster!
Great pictures mate-reminds me of early completed pics of the Shorelines when we were all getting so excited about handover.
The park must be almost ready for landscaping and I really cant wait for this.They will make it special Im sure and will be the iceing on the cake.That Shoreline area is becoming the best community in Dubai IMHO.
Take care chaps

Great pics malster - best pics yet of the Golden Mile

I will be taking handover of a GM unit in April and the exterior shots look great.

Any idea when the shops will start opening?

Thanks again
d

Was the palm really meant to look like these concrete monstrocities !
What a sh-t location you guys might be sitting on your investments but do you know what, i would want a better view from my balcony than this !if they where cheap then ok! a railway line garden view it,s crap:ohno:

Was the palm really meant to look like these concrete monstrocities !
What a sh-t location you guys might be sitting on your investments but do you know what, i would want a better view from my balcony than this !if they where cheap then ok! a railway line garden view it,s crap:ohno:

Once the Park is completed the view is going to be very nice. :cheers:

Once the Park is completed the view is going to be very nice. :cheers:

Also just across from the park will be world class shopping. and retuarants.The silent monorail will give a futuristic feel and the beach is only 100 yards away.This will be one of the best locations to live in Dubai

Also just across from the park will be world class shopping. and retuarants.The silent monorail will give a futuristic feel and the beach is only 100 yards away.This will be one of the best locations to live in Dubai
^^ World class shopping??? who can afford to open shops on the golden mile and risk loosing so much money on rent. :ohno:

^^ World class shopping??? who can afford to open shops on the golden mile and risk loosing so much money on rent. :ohno:

I think this will be one place you will find shops.It is working in `the walk`and I think Golden Mile Shopping will be better.IMO

Has anyone or does anybody know if anyone has received the thirty day Notice to Complete (NTC) on GM2 yet? I believe the expected handover is Feb 09 - just aware that there are only a few days left in Feb09.

Residents in Golden Mile, Palm Jumeirah will enjoy services similar to those offered in a five-star hotel. A range of concierge services will be provided with an option to purchase additional 'a la carte' services including child-care, housekeeping, grocery shopping and more. Residents will also experience the convenience of having chic cafes, shops and boutiques within the development, as well as various pools and well equipped gyms.

Tenants will also receive three months free membership at Al Shalal Beach Club located in The Palm Residence on the eastern portion of the trunk of the island. Al Shalal Beach Club, which was recently opened, is a boutique and exclusive club where members can enjoy a beautiful private beach, pools, a kid's pool, Gazebo deck, Mediterranean restaurant (Gusto), a club house with a steam sauna and a well equipped gym; all managed by the Fairmont Palm Hotel & Resort.

Got the above in an email from IFA.

Does anybody have any more info on the Beach Club 'Al Shalal'? Any pics? Where is it located?

Thanks
d

Residents in Golden Mile, Palm Jumeirah will enjoy services similar to those offered in a five-star hotel. A range of concierge services will be provided with an option to purchase additional 'a la carte' services including child-care, housekeeping, grocery shopping and more. Residents will also experience the convenience of having chic cafes, shops and boutiques within the development, as well as various pools and well equipped gyms.

Tenants will also receive three months free membership at Al Shalal Beach Club located in The Palm Residence on the eastern portion of the trunk of the island. Al Shalal Beach Club, which was recently opened, is a boutique and exclusive club where members can enjoy a beautiful private beach, pools, a kid's pool, Gazebo deck, Mediterranean restaurant (Gusto), a club house with a steam sauna and a well equipped gym; all managed by the Fairmont Palm Hotel & Resort.

Got the above in an email from IFA.

Does anybody have any more info on the Beach Club 'Al Shalal'? Any pics? Where is it located?

Thanks
d

Isn't it the shoreline beachclub between Al Nabat and Al Haseer? Nakheel sold it to IFA. I've walked past it. The pool is exactly the same as the others and so is the beachclub exterior. Of course they may have altered the interior of it and done away with the gym.

I hope there are cafe's shops etc due to open on the GM. They need to get the park finished though, otherwise its going to be pretty ugly walking up and down! Somehow I dont think much is going to open until economic outlook starts to improve.

Im hoping emirates use the golden mile for Air hostess Accommodation (its almost cheap enough now). Shoreline beach needs more babes... please sign up for this petition to promote topless sun bathing. Thanks you!

Is the park supposed to go under the monorail? If so then it looks like a very narrow strip . . . strictly single file if you want to walk through?

Let's hope they can get some grass, some palm trees and a pavement either side of the track . . . but that hardly equates to a park.

Trump building site can be a park also.....

I have the snagging inspection of my apt in GM5 coming up in a few weeks and will post pics. I will be there from 17 April to 21 April. If anybody is there at the same time, please PM me, so we can arrange to meet up for a beer.

Also, IFA rang me the other day to let me know that their GBP50,000 furniture package is now proceeding, after initially being cancelled due to low take up. I asked them to cancel mine some time ago, on the basis of cost and will likely just let the apt unfurnished.

Also, IFA rang me the other day to let me know that their GBP50,000 furniture package is now proceeding, after initially being cancelled due to low take up. I asked them to cancel mine some time ago, on the basis of cost and will likely just let the apt unfurnished.

Very sensible, I paid £34k for a package for a 3 bed shoreline apt and although it included a pile of electrical goods I think I could have purchased better quality for a lot less, maybe £20k. The only reason for taking the package was to get into the Fairmont rental scheme which so far has proved to be excellent.

Very sensible, I paid £34k for a package for a 3 bed shoreline apt and although it included a pile of electrical goods I think I could have purchased better quality for a lot less, maybe £20k. The only reason for taking the package was to get into the Fairmont rental scheme which so far has proved to be excellent.

Why do you say it has "so far proved to be excellent", when you have not had handover yet? Do you have a lot of bookings already?

. . . as I said it's a 3 bed SHORELINE apt . . . handover was last January and Fairmont had it rented out almost immediately. They signed a guy on a revolving 3 month contract with intent to stay until the end of March 2009. They've signed up a new tenant as of 3rd April who is staying a year possibly two . . . I really can't complain. Fairmont had one unreliable employee but since his departure three Fairmont people have attended to all my questions and they've been really great.

^^ Ah, gotcha, sorry not paying attention.

Sounds good though. Can you only be in their scheme if you buy their furniture package? Mind if I ask which block / type / view, and how much you are getting in, how that compares with long term rental rates (which are dropping fast at the moment). Would appreciate a PM if you don't want to post all that up here.

Cheers

Mitch

. . . as I said it's a 3 bed SHORELINE apt . . . handover was last January and Fairmont had it rented out almost immediately. They signed a guy on a revolving 3 month contract with intent to stay until the end of March 2009. They've signed up a new tenant as of 3rd April who is staying a year possibly two . . . I really can't complain. Fairmont had one unreliable employee but since his departure three Fairmont people have attended to all my questions and they've been really great.

I also take delivery of a GM unit next month and would appreciate what kind of returns you are achieving through the Fairmont rental scheme.

Two years ago i kitted out a 2+1 Shoreline for 120k dhs and let through Edwards and Towers on short terms. Returns have been ok and the apartment is let out approx 60% of the time.

I think £50k (250k dhs?) is expensive for the IFA package and I know you will need this before they let you enter their short term-rental scheme.

I wrote to IFA asking about long term unfurnished lets a few weeks ago and still to hear back from them.

you are welcome to PM me.

thanks
d

Just checked and the cost of the IFA package for a 2 bed C type is AED298,200!

I bought from them @ 1,714 psf in march 2008. Anybody else bought from them around the similarly high price?

^^I bought from them @ 1,714 psf in march 2008. Anybody else bought from them around the similarly high price? if u bought in march 2008, price was good

^^ if u bought in march 2008, price was good
? 1714 psf? Now they are selling for 800 psf.

I have a snagging appointment with IFA set for next week on a GM apartment and am unable to travel out to Dubai.

Can anyone please recommend a good reliable provider who can offer this service.

Thanks
d

? 1714 psf? Now they are selling for 800 psf.
Hi Freestyler
At thetime was a good price , now 800 is the currently price

I have a snagging appointment with IFA set for next week on a GM apartment and am unable to travel out to Dubai.

Can anyone please recommend a good reliable provider who can offer this service.

Thanks
d

I did my snagging couple of weeks ago. Although I was overal pleased with what I saw there but I still think snagging is essential specially when it comes to finishing.

http://www.arabianbusiness.com/552203-three-months-free-rent-draws-tenants-to-palm-apartments-

I went to see my apartment in GM5 today, and it looks good, especially to my surprise I have a view of Burj Al Arab and JBH from the balcony! The building has not been handed over to IFA yet from the contractors and therefore IFA initiated snagging is yet to be done, but from what I saw finishing is to a high standard. IFA told me that there will be no formal owners snagging process, but owners will 12 months after handover to report any faults, and these will be remediated. Has anybody else heard this?

Now for the bad news, there is no way the apartment or any in GM1-6 are going to handed over before August. There is a hell of a lot of work still to be done in the lobby and also the mezzanine level. The apartments are almost complete though.

I will be looking to let the apartment on a LT let. Quite surprising to hear from IFA that the rents have fallen to 160k for a 2BR. Does this sound about right? Any comments appreciated.

I will try and post pictures soon.

GM5 and GM6 are way behind the GM1-4; these 2 buildings are the only ones which still have the tower cranes, so I would guess GM1-4 could potentially be handed over close to on time (June?) with GM 5 and 6 slightly behind.

Great that you have a surprise view - its pot luck what you end up with - we have a great view all the way down to Jebel ali between GM5 & 6 from all our rooms and balconies, and on a clear day you can see the ground work for Palm Jebel Ali (there is definitely something on the horizon that direction anyway)

Rents sound about right, as the GM rents slightly more than Shoreline? I think a 2 bed shoreline is around the 150k mark at the moment, but could be wrong...

A few other things:

* I also heard that service charges would be approx AED25psf

* There would be an annual PDC charge of upto AED10,000. I know that Shoreline owners kicked up a stink about the PDC charges because they are essentially an annual charge for the capital cost of setting up the PDC plant which should arguably be borne by the developer. Any news on where this got to?

* Apparently, all apartments are larger than the sizes quoted, but IFA will not be charging extra even where the space is more than 5% greater than that stated in the contract.


Thanks

is their 6 or 8 buildings? how much can i expect to pay for a 1348sq ft 1 bed?

is their 6 or 8 buildings? how much can i expect to pay for a 1348sq ft 1 bed?

There are 10 buildings.

Current prices range from 900 - 1200 dhs/sqft depending on location, views and desperation of the seller. So expect to pay from 1.2m to 1.6m for a 1 bed.

Hi,

I'm selling my 'C' type 2 bed, building 8, Garden View for 870 AED/sq ft.

http://www.edwardsandtowers.com/guest/quickresult-ress.asp?ldetails=Golden%20Mile&ltype=Apartment&larea=PJ

see in B8

Guys I bought a type C (2 bed)on the Golden Mile in the early part of 2007 and paid 1.75 million for it. I realise that prices have dropped and you are now able to pick up the same apartment for around 1.5 million.

In my contract it states that if IFA are unable to deliever possession of the apartment by 1st May 2009, then either the seller or the buyer by written notice may terminate the agreement. The Seller shall then repay any payments already made by the buyer with interest from the date of payment of each amount until the date of termination calculated at LIBOR.

In light of the above, I request a refund, do you think IFA will honour this or will they claim Force Majeure events prevented them from finishing on time which makes the above conditon void??

If they wont give a refund, what should I do? Do you think I woould be eligble for compensation?? I am looking to live in the property so would it be reasonable to say to them, that because they have broken the terms of our contract, that I will take the apartment but not pay my last 10% installment??

Any advice would be greatly appreciated.

I will be checking my contract for this clause however I do not remember seeing it in my particular document. I think the best thing would be to ring the legal dept and ask them, however in this sort of climate I cant see them being willing to do this as they themselves would have difficulty shifting them down the line and are no doub looking forward to the final 10% 'greens' at handover. I personally tried this a few months back and they said that I cancel the agreement but the would be a breach ect and they would keep 40%.

In my contract its listed under Title, Possession and Risk, clause 5.5.

I realise that under the current climate they wouldnt want to refund me or pay compensation.

But I didnt want to wait an extra 12 months for my apartment to be ready either. My provisional handover date was May 2008, then I was informed it would be Feb 2009 at the beginning of this year, now its nearly May and still no firm handover date........I have fullfilled all my obligations in the contract so why shouldnt IFA be held liable if they dont fulfill theirs, plus they put this clause in the contract themselves and if it states the above in black and white surely I should have some recourse?

Point taken, I have seen this now in my contract. I'm not sure what 'Force Majeure events' exactly means but may refer to something like 'Events beyond our control' which they will try and use I think. Best think would be to ask them I guess. They will certainly resist as nobody anticipated the current property market state, so from their perspective in the good times they would refund the money happily and go on and make a profit.

Force Majeure is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term "act of God" (e.g., flooding, earthquake, volcano), prevents one or both parties from fulfilling their obligations under the contract

apparently some units have been handed over, can anybody confirm which ones these are? and if any body knows when tower 8 will be handed over?

regards

None handed over yet, but expect completion notices on 8 to go out imminently. Handover will follow that in approx 30 days.

Does anyone know if any tenants have moved in to th Golden Mile

:banana: Gusto Restaurant & Al Shalal Beach Club Now Open on Palm Jumeirah.
Gusto and the Al Shalal Beach Club are located on Palm Jumeirah between Shoreline Apartment Buildings Al Nabat and Al Haseer (buildings 7 and 8) :banana:

Golden Mile owners begin receiving keys
WAM
Published: May 31, 2009, 23:05


Dubai: Owners in the Golden Mile, Palm Jumeirah, started receiving the keys to their residences last month from joint venture partners Nakheel and IFA Hotels & Resorts (IFA HR).

Located on the trunk of Palm Jumeirah, Golden Mile comprises 10 buildings with 860 residential units just minutes from the beach.

The development hosts the first freehold offices on Palm Jumeirah as well as an extensive retail area. The residential component offers one-, two- and three-bedroom apartments, townhouses and penthouses with sea and park views. All residences are managed by the neighbouring Fairmont Palm Jumeirah hotel, which is set to open next year.


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Werner Burger, President and COO of IFA HR, said: "This is a very special project. Golden Mile, Palm Jumeirah will be the first mixed-use project on the trunk of the island with residences, freehold offices and shopping promenades, offering an active and vibrant ambiance for residents and visitors alike. We have been working closely with our joint venture partner Nakheel to ensure the delivery of an excellent product with quality finishes."

Yousuf Kazim, Managing Director, Nakheel Joint Ventures, said: "Palm Jumeirah is truly a prestigious address and offers an aspirational lifestyle and environment. A great community feel is now forming with more projects being handed over and more residents moving in. We are committed to the handover of properties in all of our ongoing developments and look forward to welcoming the new wave of residents to Palm Jumeirah."

http://i40.************/20afeon.jpg

Dubai's Golden Milestone

by Gerhard Hope Jun 1, 2009

Golden Mile on the Palm Jumeirah, which is finally nearing completion, is one of the largest MEP works contracts ever undertaken by Drake & Scull International PJSC (DSI). MEP Middle East paid a visit to the site to catch up on the milestones achieved.

Golden Mile is located on the western portion of the Palm Jumeirah. It comprises ten buildings, with a total of 860 residential units. These consist of one-, two- and three-bedroom apartments, townhouses and penthouses with sea and park views. All residences will be managed by the neighbouring Fairmont Palm Jumeirah hotel, scheduled to open in 2010, a project that DSI is also involved with. Golden Mile will also host the first freehold offices on the Palm Jumeirah, as well as an extensive retail area.

“Golden Mile resides at the heart of the Palm Jumeirah, and will be the centre of the community living on the manmade island. It is the first mixed-use project on the trunk. Our partnership with Fairmont Hotels & Resorts started with The Palm Residence (Shoreline Apartment Buildings 7 and 8, namely Al Haseer and Al Nabat), which were handed over in January 2008,” says IFA Hotels & Resorts development VP Patrick Smith.

The main contractor, Al Shafar General Contracting Company LLC, was appointed in March 2006. The project itself was launched in 2004 as a joint venture between IFA Hotels & Resorts and Nakheel. “The residential component was practically sold out within the first 48 hours. The majority of the residences were sold before the market changed.

Good team

“Our customers believe in the project, and have been with us for years, looking forward to living in their new homes. We are also very fortunate to have a good team in place that has dedicated a lot of time and effort to ensure delivery of a quality project with excellent finishes,” comments Smith.

This sense of pride and achievement is readily evident when speaking to DSI project director Darko Macura and operations manager Naser Yaseen. “The completion of the project has occurred at an important time in the market, helping to instill confidence that major, quality-based developments are still being delivered successfully,” says Macura.

“The project has maintained the same momentum from beginning to end, with the client, contractors and suppliers all committed to the end result,” adds Yaseen. Smith admits that, “As with many projects in Dubai, there have been some unexpected delays. It is not a small development.”

However, Smith is upbeat about what has been achieved to date: “As the largest foreign private developer on Palm Jumeirah, we are committed to ensuring that a consistently high standard is delivered and maintained.

“We are very proud to be able to continue to deliver high-quality projects during these challenging times. We are definitely proud of this project. Our partnership with Nakheel has remained strong; we will look at other opportunities for the joint venture.”

MEP works

DSI has been involved with the project for about three years, which covers a total built-up area of more than 360 000 square metres. Golden Mile 2 (Buildings 7 to 10) is now complete, with handover commencing in May 2009. “We are aiming to finish Golden Mile 1 (Buildings 1 to 6) during the summer, and will then start handing over the residential units shortly thereafter,” says Smith. The overall project comprises two stretches, with six buildings on one side and four on the other. The Trump Hotel was meant to be the centrepiece, but this project has since been put on hold.

Yaseen says DSI clinched the initial MEP works tender “due to a combination of commitment, quality and delivery, together with reasonable prices, which all translates into good value.” The scope of work may appear simple from the outset, but Yaseen points out that none of the ten buildings are exactly alike.

For starters, they are wider than is the norm in Dubai, plus the four sides of each building face onto adjacent plots. It is for these reasons that DSI opted to appoint a dedicated logistics manager to co-ordinate and oversee the clockwork movement of workers and materials from one end of the long site to the other. The height of the project saw 3 000 workers on-site, which has since tapered off to about 550.

Due to the immensity of the project, MEP services were divided into five areas, explains Yaseen, with a set of basement plant rooms feeding two adjacent buildings. A Palm District Cooling chilled water network supplies a total of 12,500 TR of cooling. A series of risers distributes the chilled water to about 100 air-handling units. The apartments themselves are fitted with fan-coil air-con units, which were selected due to the layout of the buildings.

The total 37MW electrical load will be supplied by seven substations, all of which have been completed. Three have six 1,500 kVa transformers; one has two, while the others have three. Distribution from the main electrical rooms is via a combination of cable and busbar, depending on the location and the distance to the local main distribution boards.

Macura explains that the MEP works had to be staggered in conjunction with the civils works. Essentially the project began at one end of the trunk and then worked its way down the mile-long site. This posed tremendous constraints on materials distribution due to the limited storage space available.

“After the initial design was reviewed and verified for buildability, services were co-ordinated very carefully in order to match up all the specific requirements. It was certainly a big project from that point of view; its overall success was due to the extensive collaboration between the engineers and the entire professional team,” says Macura.

Building management system

The project also boasts a building management system (BMS) that monitors and controls 10,000 points, or 1,000 points per building. This ranges from lighting to the fan-coil units, and will be instrumental in monitoring and reducing the energy consumption of the project in line with ‘green’ building regulations.

In terms of parking provision, each side of the project (namely four and six buildings respectively) share interconnected basement parking. There are also different levels of parking for residents, townhouses and the public. Careful consideration has also been paid to emergency evacuation procedures.

These are more complex than normal due to the sheer size and layout of the overall project. Each of the ten buildings has a dedicated retail component, with DSI being responsible for the full MEP works in these sections as well. “All the retail clients have to do is move in,” says Yaseen. For further photographs of Golden Mile, visit constructionweekonline.com (http://www.constructionweekonline.com/).

Timetable
Start date: 21 November 2005
Piling and enabling works: 13 months
Substructure: 13 months
Superstructure: 24 months
Fit-out/finishes: 29 months

Construction statistics
Concrete: 210,000 cubic metres
Steel: 31,000 metric tones
Blockwork: 320,000 square metres
Tiles: 210,000 square metres
Painting: 900,000 square metres
Doors: 12,000

Professional team
Client: IFA Hotels & resorts
Main contractor: Al Shafar General Contracting
Project engineer: DSA (together with RPW/CKR for the lighting design)
Mechanical consulting engineer: RPW
Electrical consulting engineer: CKR
MEP contractor: Drake & Scull International

http://www.constructionweekonline.com/article-5405-dubais_golden_milestone/2/

As people start to get their appartments in Golden Mile i have few questions about project&facilities:
What beach can wу use as GM residents? Can we use shoreline appartments beaches or fairmont hotel beach? Is there option to use beach and gym free of charge (i mean like in shoreline appartments - it's included to annual service fees and no need to pay separately).

Kind Regards

free of charge???

Shoreline beach club access is in addition to the service charge - many tennants have to pay this themselves, while the landlors pays the service charge and annual capacity charge for palm cooling.

Can anyone give us an update on the project delivery or let us have new photos or views about the project if you have taken delivery of the apartments.

Many thanks

I've mine delivered and I'm happy with the finishing.

If anyone wants to sell 3 bed, let me know. I've someone interested in buying.

Freestyler
Thank you for your views on finishings.
I have now heard from IFA that handover date for buildings 1 and 2 is mid August and for building 3 and 4 is mid September

I just received a pre handover notice from IFA which clearly says that every Golden Mile owner is entitled to a three year UAE residency visa.:nuts:

I just received a pre handover notice from IFA which clearly says that every Golden Mile owner is entitled to a three year UAE residency visa.:nuts:

^^ What will happen after this 3 years? There will be a renovation of residence visa Or is more complicate ? :bash:

Hi, can anybody give any feedback on the golden mile properties, I'm looking to buy a 3 bed penthouse apartment, but unsure which building to go for (1-10), and which way to face (shoreline or hotels). Also did you get to the bottom of the lack of pool, gym & beach - can we use the fairmont facilities?
thanks!

Has anybody received any handover notice for Golden Mile 1 or has had any contact with IFA recently.
Will appreciate for any news.

Hi, am buying a place on the GM. Can anyone recommend a solicitor to read over the contract or a surveyor. Like to know anyones views on this. Thanks

^^I think we all bought in Golden Mile without any help from anybody. The contract clearly says take it or leave it and there is nothing you can do. :lol:

tried to email and call IFA to find out when handover is, but no response, which is bit worrying. Have you or anyone heard anyhting for handover in building 1?? thanks.

^^I managed to speak to them about handover. I was told that the handover was imminent and may be by end of this week.

As people start to get their appartments in Golden Mile i have few questions about project&facilities:
What beach can wу use as GM residents? Can we use shoreline appartments beaches or fairmont hotel beach? Is there option to use beach and gym free of charge (i mean like in shoreline appartments - it's included to annual service fees and no need to pay separately).

Kind Regards

i live in Shoreline no.12 and use Nabaa beachclub/gym, beach etc. (in theory) its not possible for anyone aside Shoreline residnts and guests to use these facilities. Nakheel Asset Management started using the door entry cards to prohibit access. even in the gym, they have started doing spot checks.

Do the Goldenmile App. have pools?

Be good if we can move in that soon, believe it when i see it.

Could anyone tell me if there is building insurance on the GM as there is nothing in the contract. Bit worrying after seeing cracks. If there is , how many years for.

Don't see why it would be impossible to use the beach club, especially as its owned by IFA. I would of expected it to be free, but apparently have to pay 10,000 per yr for a couple.

Be good if we can move in that soon, believe it when i see it.

Could anyone tell me if there is building insurance on the GM as there is nothing in the contract. Bit worrying after seeing cracks. If there is , how many years for.

Don't see why it would be impossible to use the beach club, especially as its owned by IFA. I would of expected it to be free, but apparently have to pay 10,000 per yr for a couple.

^^there are 5 beachclubs, you just cant use the other 4 (in theory).

There will also be a maximum number of memberships sold for use of the IFA beach club!

At last!!!!... Today, I received notice to complete :cheers:

At last!!!!... Today, I received notice to complete :cheers:

Excellent, did they call you or email?? and thats building 1 isnt it?? What date do you think we could move in then?

^^I got an e-mail.Building 1, Handover from 31th August.

^^I got an e-mail.Building 1, Handover from 31th August.

does handover mean you get the keys????

^^ Handover means receiving the keys and it takes place only when you have paid all the monies including last instalment, registration fees, service charges... etc.

^^ Handover means receiving the keys and it takes place only when you have paid all the monies including last instalment, registration fees, service charges... etc.

ok thanks. I paid up on sunday so hopefully will get the keys soon after that. Was a bit worried earlier this week when i saw same apartment in building 4 for alot less than i am paying. And i think thats a better location, with much better access to the parking as you have to do a loop to get to the car park entrance in building 1. Any ideas what they will build on the plots in front and when??

It is not only the number of the building which is considered in pricing.For every floor higher you would pay AED 50,000 more when the project was launched. As an example a first floor in Building 4 would have been AED100,000 cheaper than a 6th floor in Building 1.

It is not only the number of the building which is considered in pricing.For every floor higher you would pay AED 50,000 more when the project was launched. As an example a first floor in Building 4 would have been AED100,000 cheaper than a 6th floor in Building 1.

Any idea what price I could expect to sell a first floor C-Type in Building 5 for? Road/Sea facing

Thanks
d

It is not only the number of the building which is considered in pricing.For every floor higher you would pay AED 50,000 more when the project was launched. As an example a first floor in Building 4 would have been AED100,000 cheaper than a 6th floor in Building 1.

i understand higher prices for higher floors, but this is same floor different building and alot cheaper. So will you be moved in next week??

anyone moved into building 1 yet?? ive paid up but still waiting???

I got the key to my F type apartment on 5th floor in building 1 yesterday.It has full sea view(for the time being) and good finish. I am thinking of letting.

As far as prices are concerned, 2 bed rooms are going for around AED 1.8 although some are offering 10 % discount on cash sales. A 2bd D type in building 10 is for sale at AED 1.75 with 10% discount for cash purchase.

can anybody tell me the breakdown of different service charges for Golden Mile? i was told there are many levels:1) master community 2) building management 3) owner association 4) cooling charges.. so far i only know these and are there any more to pay after the handover? Many thanks!

Anyone have a 2BR for rent sea facing on one of the earlier buildings ie 1-4? I saw something in one of the last buildings which I really liked but cant deal with the view! PM me.

does anyone know the situation with Du, have been in building 1 now for a month and been given several differnet dates, which have now all passed!

Does anyone want to sell his apartment, please send me a msg ...

Can anybody tell me the figures for moving into a 2 bed C type, especially the service charges per sq.ft as there does not seem to be any solid figure, IFA have only hinted at round about 30 ??

I have a place in building 5, does anybody have an idea of when this will be finished for handover. So far, every approx date that IFA has given me has been and gone. :bash:

Can anybody tell me the figures for moving into a 2 bed C type, especially the service charges per sq.ft as there does not seem to be any solid figure, IFA have only hinted at round about 30 ??

I have a place in building 5, does anybody have an idea of when this will be finished for handover. So far, every approx date that IFA has given me has been and gone. :bash:

hi, 20 drhs/sq ft internal area

These are actual figures for a 1300 sqft 1 bed unit.

Service charge:
IFA AED 12,849
Car park (1) 943
Nakheel 4,999


Land Registry:
Transfer fee AED 15,247 (based on purchase price)
charges 390
Admin. fee 5,000

I have seen building 1 and 2 being handed over.

Building 5 might be 3-4 months away.

im thinking of buying a flat in one of these buildings

its got a view towards the marina

does anyone know whats going to be infront on the empty plots?

i dont want to get it now and then find out theyll build some massive hotel infront of me and block my views :(

You will be ok for a few years, but rest assured there will be a building to block your view. A hotel was planned, but I have heard nothing for the past year or so. There is no way though prime real estate like that will be left unoccupied for long once things pick up.

You will be ok for a few years, but rest assured there will be a building to block your view. A hotel was planned, but I have heard nothing for the past year or so. There is no way though prime real estate like that will be left unoccupied for long once things pick up.

HI, I have recently moved into building 2. I was told that the land was under offer but have since spoken to a friend at nakheel and she told me definately going to be a park, which i find hard to believe. So fingers crossed!!! Think we should all get together and write to Nakheel. A park is needed on the palm anyway.

If they do build, i agree, will take at least 3 years.

Anyone know what you could get for a sea facing penthouse??

They will definitely build on that. Nakheel don't have the money to start building unexpected parks. Pricing in a long term park/ marina view would be folly.