still one year to go...

Hey guys. My name is Najam and I am in the UK. When I was in Dubai last April, I booked 5 aprts. in Zumurud project. Have been quite worried about progress until I stumbled upon your site and forum. You guys are amazing!!! Keep up the good work. Initially i had thought about getting rid of some round about now, but I am now tempted to keep them all!! Good idea?

Hey guys. My name is Najam and I am in the UK. When I was in Dubai last April, I booked 5 aprts. in Zumurud project. Have been quite worried about progress until I stumbled upon your site and forum. You guys are amazing!!! Keep up the good work. Initially i had thought about getting rid of some round about now, but I am now tempted to keep them all!! Good idea?

Most likely the apartments will be significant more worth upon completion - so if you can keep them I would advise you to do just that. If you are in doubt why not sell a couple ?

Hi Morten, Thanks for your advice. I have so far paid 25% of the total purchase price and have been led to believe that it is much harder to attract investors at this point than at 10%. If i wanted 2 sell a couple, would you know where I should advertise?

Hi Morten, Thanks for your advice. I have so far paid 25% of the total purchase price and have been led to believe that it is much harder to attract investors at this point than at 10%. If i wanted 2 sell a couple, would you know where I should advertise?

Hi Najam

Selling and talking about prices you should go here - money talk is not allowed on the specific threads. Scroll a couple of pages back and some of the forumers talk about preferred agents..

http://www.skyscrapercity.com/showthread.php?t=490764&page=358

Are there any signs of market slowing down in Dubai? I know that it has been fairly quiet because of summer holidays and Ramadan etc. but is there any evidence of the "credit crunch" hitting the Dubai Real Estate yet? Any views?

I advise you to sell,real estate market may crash soon

I think you might be wrong. Dubai may still be good for another 2-3 years. What has made you so pessimistic? Reading through your previous blogs, you seemed quite cheerful about the future before. There is far too much at stake for the market to simply crash!

Where is Imre? He may be able to cheer us all up!:) Certainly according to Morgan Stanley, property prices in Dubai will see a correction of about 10% in 2010 and not before.

What the same Morgan Stanley that are in deep $hite? I think most investment houses and analysts have lost all credibility.
The general consensus on this forum and views from people like Morten, HT, Imre etc are about as good as you are going to get.

What the same Morgan Stanley that are in deep $hite? I think most investment houses and analysts have lost all credibility.
The general consensus on this forum and views from people like Morten, HT, Imre etc are about as good as you are going to get.

Morgan Stanley's report is very critised - off course nobody involved in real estate likes to hear that real estate prices are going down but their analysis left out important parametres and even worse the data seem wrong. I remember that they gave some figures regarding delivered units (a good approach is to look on demand and supply). The bulk supply was going to come from the Marina and JLT - but the figures are just way off - it have to be a mistake based on way off estimates when developere expects to deliver. I think only 20% is going to be delivered compared to their figures - but this is just a rough estimate - it might be3 only 10%. Ask yourself how many units are going to be delivered the next 18 months.

BTW - it is better to discuss this on the investment thread.

Morgan Stanley's report is very critised - off course nobody involved in real estate likes to hear that real estate prices are going down but their analysis left out most important parametres. I remember that they gave some figures regarding delivered units (a good approach is to look on demand and supply). The bulk supply was going to come from the Marina and JLT - but the figures are just way off - it have to be a mistake based on way off estimates when developere expects to deliver. I think only 20% is going to be delivered compared to their figures - but this is just a rough estimate - it might be3 only 10%. Ask yourself how many units are going to be delivered the next 18 months.

BTW - it is better to discuss this on the investment thread.

Hey Morten. If there is a 10% correction after 200% appreciation, I would take it any time, wouldn't you?

Where is Imre? He may be able to cheer us all up!:) Certainly according to Morgan Stanley, property prices in Dubai will see a correction of about 10% in 2010 and not before.

forget the Morgan Stanley and other rubbish companies, one day they will have a same story like Lehman Brothers,ML, AIG etc...

As I said before , they are sitting their office in London and New York and writing rubbish about the Dubai market.Most of them have no idea about Dubai and the market and I think most of them dont know where is Dubai exactly:)

Just see what will be ready in Dubai in 2009 and 2010 and you will see still dont need to worry about the crash.

forget the Morgan Stanley and other rubbish companies, one day they will have a same story like Lehman Brothers,ML, AIG etc...

As I said before , they are sitting their office in London and New York and writing rubbish about the Dubai market.Most of them have no idea about Dubai and the market and I think most of them dont know where is Dubai exactly:)

Just see what will be ready in Dubai in 2009 and 2010 and you will see still dont need to worry about the crash.

I think most of the above are cash starved and are trying to lure Middle East investors back to their back yards. The key word is PROPAGANDA

there is a good news, rent is increasing in Dubai, 2BR IN GBR go for 235k.was 175k begining of this year.

there is a good news, rent is increasing in Dubai, 2BR IN GBR go for 235k.was 175k begining of this year.

Yes - it is true but perhaps more like 220k. JBR has become extremely popular - I dont know about the Marina in general but off course rents will go up here also. Expect good rents in Zumurud. Not long to the beach, metro and Marina Mall. Also Zumurud will have Gym and pool - JBR towers have no gyms (there are a couple of small ones but there are 30-40 towers)

Anyone know what floor we are at now ? - if they have kept the pace they should start working on the last floor within a week. I also would expect that they will soon start cladding work.

One interesting thing I was told was that the developer had to pay the contractor even more to continue the work - maybe this is why work is progressing better here compared to many other Marina projects.

Imre is fasting, thats why no photos about Zumurud In Ramadan, Ithink 29th under progress.

Good news, 29th casted.

Good news, 29th casted.

Does it mean that they start on 30 floor ? or is it 29 floor ? I ask as I heard they were working on the 29 floor some time ago.

I guess the final floor (30) will take some time. I am still setting my clock for a "keys in my hand" October 2009.

30th started

[QUOTE=Zaid_stone;25568390]there is a good news, rent is increasing in Dubai, 2BR IN GBR go for 235k.was 175k begining of this year.[/QUOTE

8 post back you tell all to sell, you such a cock.:bash:

buying and selling is one thing, renting is another.

Hi Morten
Any idea what a one bed on JBR is fetching now ??

150,000 pa for 1 bed in JBR

Hi Morten
Any idea what a one bed on JBR is fetching now ??

Hi Morris

Yes, Steve gives a good estimate. I know about some studioes there going for 120 k now and 2 beds around 210 k. Depending on the size I thin you can get more than 150 k.

Realy? Studio rented at 120k? good Eid news!!

Realy? Studio rented at 120k? good Eid news!!

I asked a property management firm about Zumurud rates - they always rent out the apartments they take on to the price they say. The small Zumurud studios - furnished (which will not be expensive) will be a bit over 100 k. The JBR studios are more than 600 sqft that why the bring in more.

So even if you pay 1 mill for a small studio you are looking at a 10% yield.

Happy Eid

Update from 30th Sept;
http://img354.imageshack.us/img354/8373/dsc00440ca0.jpg (http://imageshack.us)

A bath with a marina view;
http://img60.imageshack.us/img60/337/dsc00442yb5.jpg (http://imageshack.us)

Has anyone here paid their 1% Dubai Land registry fee? Must be paid before 14th October according to Select otherwise your off-plan purchase is not legally valid.

Steve, stop scaremongering!

You have been subjected to psychological torment by DS/SP.:bowtie:

Has anyone here paid their 1% Dubai Land registry fee? Must be paid before 14th October according to Select otherwise your off-plan purchase is not legally valid.

can you please give more details on this subject

Has anyone here paid their 1% Dubai Land registry fee? Must be paid before 14th October according to Select otherwise your off-plan purchase is not legally valid.

this is a speciality of Select:)

I hve many off plan properties and nobody asked that.

^^ me either , i called Dec developer a long time ago and i told them about this issue but they infom me , That everything will be ready within the handover . All papers will be ready on time i guess i don't have to pay it , our developer do .

The Law No.13 of 2008 aims to regulate off-plan sales and mandates registration with the land department in Dubai. According to the latest property law, it is mandatory to register off-plan property sales in Dubai with the Land Department. This is yet another law to safeguard the interests of the real estate investors and buyers of off-plan property in the emirate.

The law also states that master developers and sub-developers will no longer be allowed to charge transfer fees on off-plan sales. However, they will be allowed to accept administrative charges after approval by the Land Department.

Off-plan sales refer to the purchase of a property before the structure is actually built. Any sale or other disposition that transfers or restricts title shall be void if not registered in the interim real estate register, the new law stipulates. Any developer who makes a sale or other disposition before the law comes into effect must register it within 60 days.

60days what if peoples outside UAE and they don't know about the new law , alot of peoples they don't know anything every week coming a new chapter for the old law .I guess only the contract is the solution if you have it that's it .

BTW if any investors do that register what the developer actually do ? it should be one of regular developer routine FREEEE .

AContract from developer => lead to already register it from Dubai Land Department "a common sense law" Makin money is a different story !


But the main problem is when u bought something during developing of The Real Estate Law itself !

this is a speciality of Select:)

I hve many off plan properties and nobody asked that.

who is Select please?

who is Select please?

You don’t really want to know…..believe me.

I did not get it.

Select = Select Property aka Dubai Select.

Something that occured to me is that it may only be a few developers like Select that require this to be paid as the UK Dubai Select company was acting as a 3rd party selling off-plan to Torch Select Dubai.

But to be safe, please check with your developer.

Any news on Zumurud plz? I am getting rather confused, :nuts:anxious and impatient sitting so far away from the action!!

Any news on Zumurud plz? I am getting rather confused, :nuts:anxious and impatient sitting so far away from the action!!


Hi Najam

I saw that the developer announced a new launch for the remaining 1+2 beds in Zumurud - see http://imaging.gnads4u.com/images/000/030/542/731_1/orig.pdf. They stated that they are about to finish the last floor - 30th floor - which means they are about to finish the stuctural part. I dont know about prices - you have to ask them. But dont worry about anything here.

Thanks Morten. We are obviously getting conflicting views on Dubai property market in this time of financial turmoil in US and European markets. This is understandable. However, I am confident that Dubai will see this strom through and that Bin Hamoodah will deliver as close to promised time as possible. But then I am a chronic optimist!!:)

The new 1 & 2 BR apartments at Zumurud are being advertised at approx. between AED1800 - AED2200 psf. But is there anyone buying at present?

Hi Najam

I saw that the developer announced a new launch for the remaining 1+2 beds in Zumurud - see http://imaging.gnads4u.com/images/000/030/542/731_1/orig.pdf. They stated that they are about to finish the last floor - 30th floor - which means they are about to finish the stuctural part. I dont know about prices - you have to ask them. But dont worry about anything here.

Iv noticed a RERA reg. num. in the AD, GOOD NEWS !!

Topped out?

^^ i guess altinD is topped out elso, not only this one ! :D

Please a picture to confirm, thx !

Topped out?

Hi Imre, no appetite for photos?

Cityscape now over, any conclusions?

Hi Imre, no appetite for photos?

Got some pictures from Developer - and message that the structural building has finished. Will post later

I got the same :)

Zumurud- Structure completed- 30 floor CASTED

http://img258.imageshack.us/img258/8898/z1mf6.jpg (http://imageshack.us)

http://img258.imageshack.us/img258/5249/z4kk7.jpg (http://imageshack.us)

http://img504.imageshack.us/img504/9126/z5eh9.jpg (http://imageshack.us)

view from the 25th floor

http://img243.imageshack.us/img243/1140/view25thms7.jpg (http://imageshack.us)

http://img515.imageshack.us/img515/3608/image001kv0.jpg (http://imageshack.us)

http://img243.imageshack.us/img243/1140/view25thms7.jpg (http://imageshack.us)

Nice view there :-)

Thanks Morten, do you have any idea about studio prices in the secondary market please?

Thnaks Morten. The view looks absolutely gorgeous from the 25th. HAs some cladding work started too?

a giant!!
http://img258.imageshack.us/img258/8898/z1mf6.jpg

Thanks Morten, do you have any idea about studio prices in the secondary market please?

It is again Imre to thank

Thanks Morten, do you have any idea about studio prices in the secondary market please?

http://img78.imageshack.us/img78/7273/zumurudpricesxy8.png (http://imageshack.us)
http://img78.imageshack.us/img78/zumurudpricesxy8.png/1/w555.png (http://g.imageshack.us/img78/zumurudpricesxy8.png/1/)

I made this from my database I keep over Marina apartments. All offers are converted to an apartment on 17 floor - 398 sqrt - partial marina view - in order to compare prices. I would say 1 million now will be the offer. Rent could be a bit over 100.000 k AED per year if furnished. So yield is 10%. Note that these prices are offers - but if you have some patience you will find that they eventual get taken as prices still go up.

Thanks Morten, anyone who wants to sell studios can u plz e mail me.

Selling is not allowed here!!

Thnaks Morten. The view looks absolutely gorgeous from the 25th. HAs some cladding work started too?

Hi Najam

None cladding work seem has started - but the internal work is in very good progress. Maybe the cladding contractor was surpriced that they topped out before shedule. I think there will be quite some work in finalising the 30 floor. Anyway, not long before we can meet up at the pool.

C/U 16/10/08


http://i34.tinypic.com/oe076.jpg

Hey, drinks are on me!!

Today Sales, Dubai land Departments

Building Name Region Area Total Worth

MAG 214 Emirates Hills First 764.26 535650

MAG 214 Emirates Hills First 1322 1718600

MAG 214 Emirates Hills First 1589.88 2225832

Y11 Al Warsan First 484.38 400000

Y11 Al Warsan First 731.95 409000

Rimal-1 Marsa Dubai 1919.20 699000

Rimal-1 Marsa Dubai 1919.20 875000

Rimal-2 Marsa Dubai 1947.90 380000

Rimal-3 Marsa Dubai 756.69 299000

Rimal-3 Marsa Dubai 1443.69 599000

Rimal-3 Marsa Dubai 1443.69 599000

Rimal-4 Marsa Dubai 699.40 299000

Rimal-4 Marsa Dubai 1057.70 449000

Rimal-4 Marsa Dubai 5636.80 3970000

RIMAL-06 Marsa Dubai 2029.39 699000

SADAF-2 Marsa Dubai 1384 2500000

SADAF-4 Marsa Dubai 1447.80 599000

SADAF-4 Marsa Dubai 1797.39 699000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.80 599000

SADAF-5 Marsa Dubai 1797.39 4050000

SADAF-6 Marsa Dubai 1415.70 599000

SADAF-6 Marsa Dubai 1882.20 4000000

I think their was a printing error, here some of today today transactions in Dubai land department
Construction Name Region Area Total Worth



MAG 214 Emirates Hills First 1322 1,718,600
MAG 214 Emirates Hills First 1589.88 2,225,832
Y11 Al Warsan First 484.38 400,000
SADAF-2 Marsa Dubai 1384 2,500,000
BAHAR-1 Marsa Dubai 1300.4 2,650,000
BAHAR-6 Marsa Dubai 761.2 1,500,000
BAHAR-6 Marsa Dubai 779.7 2,210,000
DIAMOND Marsa Dubai 374 850,000

Has anyone applied for a mortgage for Zumurud from National Bank of Abu Dhabi? They are being very mean. Apart from a very high interest rate (some 9.375%), they are now saying that they will only finance 50% LTV.

Does anyone know of any other Bank who are willing to finance a purchase in Zumurud?

Try Mwarid Finance

Contact Details

Address: Millenium Tower
Shaikh Zayed Road

P. O. Box: 212121 Dubai, U.A.E.

Telephone: +(9714) 3040888

Toll Free: 800 MAWARID
[If you are calling from outside the UAE, please call +(9714) 3040888]

Fax : +971 4 321 9797
Email : info@mawarid.ae

Today Sales, Dubai land Departments

Building Name Region Area Total Worth

MAG 214 Emirates Hills First 764.26 535650

MAG 214 Emirates Hills First 1322 1718600

MAG 214 Emirates Hills First 1589.88 2225832

Y11 Al Warsan First 484.38 400000

Y11 Al Warsan First 731.95 409000

Rimal-1 Marsa Dubai 1919.20 699000

Rimal-1 Marsa Dubai 1919.20 875000

Rimal-2 Marsa Dubai 1947.90 380000

Rimal-3 Marsa Dubai 756.69 299000

Rimal-3 Marsa Dubai 1443.69 599000

Rimal-3 Marsa Dubai 1443.69 599000

Rimal-4 Marsa Dubai 699.40 299000

Rimal-4 Marsa Dubai 1057.70 449000

Rimal-4 Marsa Dubai 5636.80 3970000

RIMAL-06 Marsa Dubai 2029.39 699000

SADAF-2 Marsa Dubai 1384 2500000

SADAF-4 Marsa Dubai 1447.80 599000

SADAF-4 Marsa Dubai 1797.39 699000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.80 599000

SADAF-5 Marsa Dubai 1797.39 4050000

SADAF-6 Marsa Dubai 1415.70 599000

SADAF-6 Marsa Dubai 1882.20 4000000

^^ Some of these were the original low prices in JBR in 2003. This shows the original owners finally registering the properties at the Land Department.

This is useful info. Can I ask where you got these statistics? Thanks

Try Mwarid Finance

Contact Details

Address: Millenium Tower
Shaikh Zayed Road

P. O. Box: 212121 Dubai, U.A.E.

Telephone: +(9714) 3040888

Toll Free: 800 MAWARID
[If you are calling from outside the UAE, please call +(9714) 3040888]

Fax : +971 4 321 9797
Email : info@mawarid.ae

Thanks Zaid. I'll give them a try.

^^ Some of these were the original low prices in JBR in 2003. This shows the original owners finally registering the properties at the Land Department.

This is useful info. Can I ask where you got these statistics? Thanks

Dubai land department website

:ohno:any body want to sale at a good discount?

Had an e mail from the developers yesterday. They are trying to get two more lenders interested to finance the project for their buyers. Seems to be a pretty tight squeeze in the lending market at present.

Why? When we thought that the Dubai economy is strong and there is no shortage of capital in the Banks unlike in the west!!

http://img395.imageshack.us/img395/1467/z1js4.jpg (http://imageshack.us)

http://img395.imageshack.us/img395/4417/z2wx1.jpg (http://imageshack.us)

http://img386.imageshack.us/img386/6130/z3jk9.jpg (http://imageshack.us)

Today Sales, Dubai land Departments

Building Name Region Area Total Worth

Rimal-3 Marsa Dubai 756.69 299000

Rimal-4 Marsa Dubai 699.40 299000

Rimal-4 Marsa Dubai 1057.70 449000

RIMAL-06 Marsa Dubai 2029.39 699000

SADAF-4 Marsa Dubai 1797.39 699000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.50 599000

SADAF-5 Marsa Dubai 1447.80 599000

SADAF-6 Marsa Dubai 1415.70 599000





Some of these prices are quite interesting (ofcourse these are original prices).
They are cheaper than todays International City or even Ajman prices!!

2 beds - high floor are still avialble.

http://img263.imageshack.us/img263/3797/zr1mu7.jpg (http://imageshack.us)

http://img76.imageshack.us/img76/1441/zr2zb8.jpg (http://imageshack.us)

http://img76.imageshack.us/img76/7126/zr3tz5.jpg (http://imageshack.us)

http://img76.imageshack.us/img76/7066/zr4en6.jpg (http://imageshack.us)

http://img227.imageshack.us/img227/8277/zr5dy1.jpg (http://imageshack.us)

http://img263.imageshack.us/img263/7290/zr6xq0.jpg (http://imageshack.us)

http://img263.imageshack.us/img263/2600/zr7em9.jpg (http://imageshack.us)

http://img76.imageshack.us/img76/6739/zr8mh5.jpg (http://imageshack.us)

http://img76.imageshack.us/img76/361/zr9sp7.jpg (http://imageshack.us)

Hi Morten!

Zumurud Topped Out?? Or any more floors to go..... and is there another tower coming up in fromt of Zumurud on Marina side??

@Morten;

Snap, I got the same email :lol::cheers:

I posted them in the Marina Section :lol:

Hi Morten!

Zumurud Topped Out?? Or any more floors to go..... and is there another tower coming up in fromt of Zumurud on Marina side??

Topped out - but I guess the top will take some time. Yes - Orra Marina is just in front of Zumurud - but to the left - I cant remember how high - but there is a thread. I have partial marina view so I have never looked into it :-)

@Morten;

Snap, I got the same email :lol::cheers:

I posted them in the Marina Section :lol:


I was just going to do that - owing you another beer - have to be a Carlsberg :-)

WOW... Zumurud is the hot shot of the Marina

This is my favorite view
http://img227.imageshack.us/img227/8277/zr5dy1.jpg

This is my favorite view
http://img227.imageshack.us/img227/8277/zr5dy1.jpg

Today transactions:
Construction Name Region Area Total Worth



AL THAYYAL-3 Emirates Hills Second 432.54 1,200,000
AMWAJ-4 Marsa Dubai 1412.4 2,826,923
THE RESIDENCES II T1 Sheikh Zayed Road 1365 4,350,000

http://i359.photobucket.com/albums/oo34/melkor_gds/IMG_0737.jpg?t=1225100772

Any news on Zumurud?

There is so much unnecessary negativity around.

Hope someone will come up with some cheerful news soon!!!

People are dreaming, they think they can get a studio for 500k in the Marina, if this going to happen, that means studio price will be 400k in JLT,300k in sport city, 250k in the international city,100k in Ajman and 50 k in RAK !!, then Studio rent will be 25k in the international city, and then the 1m residents living in sharjah who work in Dubai and wake up 4am every morning reach their office at 8am, will move to Dubai.

People are dreaming, they think they can get a studio for 500k in the Marina, if this going to happen, that means studio price will be 400k in JLT,300k in sport city, 250k in the international city,100k in Ajman and 50 k in RAK !!, then Studio rent will be 25k in the international city, and then the 1m residents living in sharjah who work in Dubai and wake up 4am every morning reach their office at 8am, will move to Dubai.

Are someone trying to buy your studio for 500 k since you say this ? :nuts: A finished decent studio in the Marina is + 1 mill right now. Rent is just over 100 k if it is furnished and decent located within the marina.

Any news on Zumurud?

There is so much unnecessary negativity around.

Hope someone will come up with some cheerful news soon!!!

Nakheel are selling studios for 750k in the international city, completion 2011.

.......-.

-------.-

can someone say name for 2 tower infront of Zumurud and how high many floors coming.

Orra Marina G+32, prices starting at 1680/sqft for new floor release at Property Shopper Show this week.

Orra Marina G+32, prices starting at 1680/sqft for new floor release at Property Shopper Show this week.

Seems like a good price for at tower in progressed construction mode and a few meters from the water.

Orra Marina G+32, prices starting at 1680/sqft for new floor release at Property Shopper Show this week.


I thougt Property Shopper Show was held in May ? Where did this show take place ?

Orra Marina G+32, prices starting at 1680/sqft for new floor release at Property Shopper Show this week.
"Starting at" means bottom floor Zumurud view
I would like to know Marina View prices
-"starting" 2200
aed psf ?

it looklike it getin very dark in Zumurud, will all marina view be coverered bye these 2 tower?

it looklike it getin very dark in Zumurud, will all marina view be coverered bye these 2 tower?

The sides of the building will offer nice marina views - I think especially the side closest to the bridge as I believe they will not put a tower on the road - but who knows - I will not be surpriced :-)

can someone say name for 2 tower infront of Zumurud and how high many floors coming.

tower to the right is 8 floors only

This is my favorite view
http://img227.imageshack.us/img227/8277/zr5dy1.jpg

It's also someone elses.:)
http://img512.imageshack.us/img512/3972/orramarinafx3.jpg (http://img512.imageshack.us/my.php?image=orramarinafx3.jpg)

Zaid - I would be pissed if they stole my picture - and now also your view :-)

I know I might be asking a silly question but is there anyone interested in buying 2 1 BR apartments in Zumurud?

I know I might be asking a silly question but is there anyone interested in buying 2 1 BR apartments in Zumurud?

what type and which floor?

Today

http://i38.tinypic.com/24g8ylt.jpg

http://i34.tinypic.com/2qwkfoo.jpg

throw your camera!!

^^ you mean my I-phone :ohno:

with that quality it seems that ur phone is 1979 model.

Its gone all quiet on the Zumurud front. Any news guys, any new developments? Better photos??

I have contacted the developer, still they are selling at AED 2200/sqf, but they have 50% on completion option.

02/December/2008

Zumurud

http://img201.imageshack.us/img201/1900/imresolt050ld2.jpg (http://imageshack.us)

http://img262.imageshack.us/img262/866/imresolt063mv2.jpg (http://imageshack.us)

http://img224.imageshack.us/img224/8594/imresolt064gj9.th.jpg (http://img224.imageshack.us/my.php?image=imresolt064gj9.jpg)

http://img266.imageshack.us/img266/8815/imresolt069pn4.jpg (http://imageshack.us)

http://img154.imageshack.us/img154/4584/imresolt070ef3.jpg (http://imageshack.us)

http://img224.imageshack.us/images/thpix.gif (http://g.imageshack.us/thpix.php)http://img224.imageshack.us/img224/7804/imresolt065xw0.th.jpg (http://img224.imageshack.us/my.php?image=imresolt065xw0.jpg)http://img224.imageshack.us/images/thpix.gif (http://g.imageshack.us/thpix.php)

http://img154.imageshack.us/img154/1421/imresolt071qv5.jpg (http://imageshack.us)

http://img266.imageshack.us/img266/358/imresolt075mc7.jpg (http://imageshack.us)

http://img291.imageshack.us/img291/7996/imresolt073xo3.jpg (http://imageshack.us)

Nice Imre pictures - just like the old days :-)

Progress looking very fine for Zumurud.

One will feel comfortable with this progress compared to other projects difficulties

some people working today as well

12/December/2008

Zumurud

http://img510.imageshack.us/img510/4743/imresolt65xd8.jpg (http://imageshack.us)

http://img255.imageshack.us/img255/6641/imresolt67rc9.jpg (http://imageshack.us)

http://img258.imageshack.us/img258/1294/imresolt72mj8.jpg (http://imageshack.us)

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http://img186.imageshack.us/img186/1031/imresolt90sb9.jpg (http://imageshack.us)

Anyone heard when cladding is to take place ? They should be ready now - perhaps the contractor is not.

Thanks for the fantastic photos once more Imre.

concrete work was fast but I dont think so that it will be ready in Sept 2009.

I expect just end of 2009 or Q1 2010.

We should ask the developer , what they will say:)

concrete work was fast but I dont think so that it will be ready in Sept 2009.

I expect just end of 2009 or Q1 2010.

We should ask the developer , what they will say:)

I always have calculated keys from end of 2009. From Q1 2001 I believe they need to pay penalities - so Q1 might be best estimate now.

Any news about prices? Bad news every where

Any news about prices? Bad news every where

Prices certainly have dropped on offplan - but no transactions here so difficult to estimate prices. I have seen some units 20 pct under summer prices. Rentals have never been higher so this is good news.

difficult to say anything because no buyers at the moment.

From February 2009 would be better.

I think Marina will benefit from the delay in other water front projects, but don’t u think that the termination of employees will create vacancies in Dubai and rent will go down?

I think Marina will benefit from the delay in other water front projects, but don’t u think that the termination of employees will create vacancies in Dubai and rent will go down?

Yes, rent most likely will go down - rents already too high. Dont worry - the Marina will keep being an attractive place in Dubai and prices will most likely always be good.

Any news about prices? Bad news every where

There is a 398sqft studio for sale on alineah website, asking price 994,500 AED, i offered 750,000 AED but the offer was refused.

^^^^1900 dhs psf you are a brave man.

I always have calculated keys from end of 2009. From Q1 2001 I believe they need to pay penalities - so Q1 might be best estimate now.

October 2009 is the latest from the developer.

There is a 398sqft studio for sale on alineah website, asking price 994,500 AED, i offered 750,000 AED but the offer was refused.

which floor ?

I found one in the Gulfnews

Zumurud. 5th floor with B.u.a. 398 sq.ft. Price negotiable. AED 724K

^^^^1900 dhs psf you are a brave man.

why?

if he pays 750.000 AED, the rental return still more than 10%/year.

do you know similar deal?

which floor ?

I found one in the Gulfnews

Zumurud. 5th floor with B.u.a. 398 sq.ft. Price negotiable. AED 724K

It was on the 13th floor, i think its now sold.

Show apartment ready in Zumurud. I like the finishing.


http://img90.imageshack.us/img90/6540/zumurudbathvanityax9.jpg (http://imageshack.us)
http://img90.imageshack.us/img90/zumurudbathvanityax9.jpg/1/w1944.png (http://g.imageshack.us/img90/zumurudbathvanityax9.jpg/1/)

http://img101.imageshack.us/img101/6720/zumurudentrancelobbyks6.jpg (http://imageshack.us)

http://img210.imageshack.us/img210/7305/zumurudwordrobesbw8.jpg (http://imageshack.us)
http://img210.imageshack.us/img210/zumurudwordrobesbw8.jpg/1/w2592.png (http://g.imageshack.us/img210/zumurudwordrobesbw8.jpg/1/)


http://img511.imageshack.us/img511/9691/zumurudkitchensamplecu5.jpg (http://imageshack.us)

Looks good apart from the bathroom worktop looks like a pidgeon pooped all over it.

:lol: ^^^^ yeah your right it looks a bit shity marble affect..

but i like everything else..

Looks good apart from the bathroom worktop looks like a pidgeon pooped all over it.

:lol: who knows - maybe there was a pidgeon.. Anyway, seems like the developer are delivering what he promised. That is good news these days.

looks good, I am happy with this.

Looks good apart from the bathroom worktop looks like a pidgeon pooped all over it.

^^Tut tut,

Worktops and tiles are nice, they just don't match. Actualy I think they clash. Quality does look good though.

Imre will cover the entire wall with a big mirror so won't be a problem for him:)

I like the kitchen, this is the look I want to acheive with my wall cupboards in Jewels. They better not leave anything lying about:runaway:

http://i44.tinypic.com/k4tqmb.jpg

I agree they do clash.

I talked to the developer telling them I liked the interior.

They do believe that aluminium work will start in a month - and was told that the precast panels fixation already have started.

^^Tut tut,

Imre will cover the entire wall with a big mirror so won't be a problem for him:)



right, some mirrors will increase the size:)

The quality is excellent.

I loved every thing, Zumurud prices will shoot if this the quality.

Zaid what do you think the price of a studio is in this current economic climate?

Zaid what do you think the price of a studio is in this current economic climate?

Currently there is no market price, it depend on seller & buyer situation, but I can say a price of 700-850 k is reasonable in the marina and we will see many deals closed at that range in the new year.

27/December/2008

Zumurud

http://img253.imageshack.us/img253/5691/imresolt12fp1.jpg (http://imageshack.us)

http://img253.imageshack.us/img253/5195/imresolt13bh9.jpg (http://imageshack.us)

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http://img175.imageshack.us/img175/7264/imresolt29ex1.jpg (http://imageshack.us)

04/January/2009

Zumurud

http://img233.imageshack.us/img233/3283/imresolt01pw8.jpg (http://imageshack.us)

http://img227.imageshack.us/img227/5664/imresolt02gv5.jpg (http://imageshack.us)

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http://img227.imageshack.us/img227/782/imresolt04bf2.jpg (http://imageshack.us)

Hi Imre, how is Dubai market?

still very bad, no transaction at all..

whats the least price in DM sold at?

I just had a look at alineah and the average marina price for last week is around 2000AED/ sq ft !

I just had a look at alineah and the average marina price for last week is around 2000AED/ sq ft !

Thats very encouraging BUT are there any selling?

08/January/2009

Zumurud

http://img296.imageshack.us/img296/6762/imresolt024kz9.jpg (http://imageshack.us)

http://img261.imageshack.us/img261/2180/imresolt039mk7.jpg (http://imageshack.us)

Thanks for some fantastic pictures again Imre! The progress looks good!

waiting for the glass

13/January/2009

Zumurud

http://img237.imageshack.us/img237/16/imresolt17wq9.jpg (http://imageshack.us)

http://img118.imageshack.us/img118/1927/imresolt16lm4.jpg (http://imageshack.us)

http://img237.imageshack.us/img237/7305/imresolt18be8.jpg (http://imageshack.us)

So "The Point" will finish First ?

maybe, we will see the progress when the glass arrived.

maybe, we will see the progress when the glass arrived.

The POINT better VALUE NOW got offered one bed at 1282 aed psf today
resale (803 sq ft) don't have money so didnt ask more detail but brilliant investment for those that have spare cash

then the Zumurud still better, I got an offer for my studios for 700.000 AED/each which is 1758 and 1871 dhs/sqft but I dont want to sell.

Studios always the best, 1-2-3 beds much cheaper dhs/sqft

then the Zumurud still better, I got an offer for my studios for 700.000 AED/each which is 1758 and 1871 dhs/sqft but I dont want to sell.

Studios always the best, 1-2-3 beds much cheaper dhs/sqft

No reason to sell Imre as you have paid around 70 pct already I guess - and you might recieve 2 x 90.000 Aed in 10 months time. Service charges are small as your apartment are very small.. BTW - we need to furnish them I think.

then the Zumurud still better, I got an offer for my studios for 700.000 AED/each which is 1758 and 1871 dhs/sqft but I dont want to sell.

Studios always the best, 1-2-3 beds much cheaper dhs/sqft

I had an offer in August for 800.000 AED x2 for my 2 studios but i won,t sell and in fact i am looking to buy 2 more as i believe these studios will be worth 1 million AED on completion by the end of the year and they will be very easily let out for at least 75k per year.

I had an offer in August for 800.000 AED x2 for my 2 studios but i won,t sell and in fact i am looking to buy 2 more as i believe these studios will be worth 1 million AED on completion by the end of the year and they will be very easily let out for at least 75k per year.

Money has to go somewhere and when deposit rates go down significant soon real estate is not a bad thing and more physical than most things - enough of this talk - sorry - 75k might also be possible - still 10 pct yield - you should opp for a monthly check payment for the tennant and I think you can get somewhat more. 6-7 k monthly seem affordable and you will be living in Dubai Marina.. Very close to the Metro - Beach - Mall/Cinema - JBR Walk... I would move in if it was possible for me to move from my country.. Tax-free heaven... In Denmark we pay around 50-60% in taxes..

You quite right Morten, a friend of mine own a studio in a tower very close to Zumurud and he rents it out for 7 k per month and he says demand for studios is very high and very easy to rent out because of the low service charges.

You quite right Morten, a friend of mine own a studio in a tower very close to Zumurud and he rents it out for 7 k per month and he says demand for studios is very high and very easy to rent out because of the low service charges.

Lots of activity on this thread today. Is it a day off or something??

Dubaifirst, I have sent you a PM, please have a look!

then the Zumurud still better, I got an offer for my studios for 700.000 AED/each which is 1758 and 1871 dhs/sqft but I dont want to sell.

Studios always the best, 1-2-3 beds much cheaper dhs/sqft

I will happily sell my 1 BRs for AED1400 psq. Any offers?

You quite right Morten, a friend of mine own a studio in a tower very close to Zumurud and he rents it out for 7 k per month and he says demand for studios is very high and very easy to rent out because of the low service charges.

fully furnished ,we can get 8-10000 dhs/m or 85-90.000 dhs/year which is very good rental income thats why almost zero distressed sales of studios at the Dubai Marina.

Cheapest studios , Marina Diamonds and DEC Towers around 700-750.000 AED.

You quite right Imre about Studios, i just came back from Dubai and still very high demand for Studios sales and rentals. , i was surprised to know that the average asking price for 1 and 2 beds units have dropped to around 1000 AED/ sq ft, anything above this is just not selling at all.

The POINT better VALUE NOW got offered one bed at 1282 aed psf today
resale (803 sq ft) don't have money so didnt ask more detail but brilliant investment for those that have spare cash

I think this is a 2nd floor no view one that I was offered. You will get what you pay for.........

then the Zumurud still better, I got an offer for my studios for 700.000 AED/each which is 1758 and 1871 dhs/sqft but I dont want to sell.

Studios always the best, 1-2-3 beds much cheaper dhs/sqft

He means better value from a buyers point of view,.

Money has to go somewhere and when deposit rates go down significant soon real estate is not a bad thing and more physical than most things - enough of this talk - sorry - 75k might also be possible - still 10 pct yield - you should opp for a monthly check payment for the tennant and I think you can get somewhat more. 6-7 k monthly seem affordable and you will be living in Dubai Marina.. Very close to the Metro - Beach - Mall/Cinema - JBR Walk... I would move in if it was possible for me to move from my country.. Tax-free heaven... In Denmark we pay around 50-60% in taxes..

Your crazy Morten, leave all them Danish chicks.:nuts:

,,

You quite right Imre about Studios, i just came back from Dubai and still very high demand for Studios sales and rentals. , i was surprised to know that the average asking price for 1 and 2 beds units have dropped to around 1000 AED/ sq ft, anything above this is just not selling at all.
Don't agree with that statement at all !!!
can you prove it ?
I think you might be a buyer with wishfull thinking

I think this is a 2nd floor no view one that I was offered. You will get what you pay for.........Agreed CBG

Don't agree with that statement at all !!!
can you prove it ?
I think you might be a buyer with wishfull thinking

If you don,t believe me look at the gulf news, alineah or better homes websites, anything above 1000 AED especially for large one bed and 2 beds units is not shifting , things have dramatically changed since August.For obvious reasons Studios are still holding value very well , people are prepared to pay between 700 to 800 k for a tiny studio but will not pay a little bit more for a larger flat.

this is true , studios still keep the value.

Thanks to CBP


http://i41.tinypic.com/11ujcm1.jpg

http://i43.tinypic.com/66w9xd.jpg

still no glass, any idea when starts the cladding?

still no glass, any idea when starts the cladding?

3 weeks ago the developer told me cladding will start in a months time - so end of this month something should happen. If it will not happen it will be the first time in this development.

They better do! my payments used to cost me 25 k sterling every 4 months, now with the Sterling toasting its gonna be 35K.

were all in the same boat regarding payments.. hopefully end of 2009 £ will recover

were all in the same boat regarding payments.. hopefully end of 2009 £ will recover

Unfortunately it might be too late 4 some of us!! If the pound recovers significantly after we have sent all our payments, we will be in even deeper sh*t!!

still no glass but stone panels arrived

22/January/2009

Zumurud

http://img171.imageshack.us/img171/5773/imresolt51ju7.jpg (http://imageshack.us)

http://img253.imageshack.us/img253/1581/imresolt52rk9.jpg (http://imageshack.us)

http://img242.imageshack.us/img242/5689/imresolt54wo0.jpg (http://imageshack.us)

http://img440.imageshack.us/img440/627/imresolt55ob8.jpg (http://imageshack.us)

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http://img440.imageshack.us/img440/926/imresolt57vm3.jpg (http://imageshack.us)

Can anyone tell me why this developer has not tried to get approval from some of the major lenders who are still willing to lend? :ohno:

I got finance from NBAD

I got finance from NBAD

But are you a UAE resident, as they are not now lending to overseas investors!!!

Yes I am, any bank give to overseas clients in uae?

Not any more. However that was not the case when some of us booked these apartments!!! How times and rules change!!!! some peolple just make the rules as they go along......

you will never know what will happen within 3 months !!

you will never know what will happen within 3 months !!

I hope something good and positive..... But I am a REALIST!!! 3 months is too short a space of time!!!

you will never know what will happen within 3 months !!

I hope the cladding will start:)

but stone cladding already started, you mean aluminume and glazing works.

yes, but where is the glass , something has been changed?

stone cladding in full progress!

Imre, any idea where the rentals would be in October/ Nov 2009 (assuming the completion and delivery is on time) for 1 BR apartments in Zumurud?

Just I have rented new 1BR, in Nahdah Dubai for 80 k +++,I pay 5 k for car park & 4 k service charge & 5 k commision, so Dubai Marina one bed cant go less than 120 k, as an average.

My realistic estimate is Studio 60 -70 k, I bed 80-90 K, 2 bed 100-110 k.

I think rent will be high in this year in Dubai Marina .

Why? How many towers will be ready in this year? 1-2

Thank you for your replies. Of course, no one has a crystal ball to know exactly how things will shape up in the next 8-9 months but your opinions really matter. I need to know if it will make good financial sense to keep the 5 apartments I have in this development. I think we have to be mindful of the fact that any increased demand due to lack of completed towers will be offset by the invariable job losses specially in the finance and real estate sectors reducing demand.

On the mortgage side, I believe that the developers themselves should finance the project for those investors unable to arrange mortgage due to current climate as a 50% loan which could be paid off in monthly installments after completion and delivery with interest of course. Any views?

5 eggs in one basket!

5 eggs in one basket!

5 but not all!!!

Thank you for your replies. Of course, no one has a crystal ball to know exactly how things will shape up in the next 8-9 months but your opinions really matter. I need to know if it will make good financial sense to keep the 5 apartments I have in this development. I think we have to be mindful of the fact that any increased demand due to lack of completed towers will be offset by the invariable job losses specially in the finance and real estate sectors reducing demand.

On the mortgage side, I believe that the developers themselves should finance the project for those investors unable to arrange mortgage due to current climate as a 50% loan which could be paid off in monthly installments after completion and delivery with interest of course. Any views?

Developers never arranged finance for themselves as they were able to bank roll the project from investors payment schedules. There was nothing to suggest that investors would hit cash flow problems and that the market for offplans would evaporate overnight. Now the developers can't get the funding from the banks as the banks want to avoid risks at the moment.

I think that market will reverse once the new property visa law released.

I think that market will reverse once the new property visa law released.

And when is that likely to be?

Developers never arranged finance for themselves as they were able to bank roll the project from investors payment schedules. There was nothing to suggest that investors would hit cash flow problems and that the market for offplans would evaporate overnight. Now the developers can't get the funding from the banks as the banks want to avoid risks at the moment.

I think I didn't make myself very clear. What I meant was that if there is a balance of 50% left over at the time of completion, which can't be met with a mortgage, the developer could provide that as a loan (as suggested by Emaar earlier) to the investor that could be paid back on a monthly basis with the going interest rate. This would help the problem of lack of liquidity in the market for the investor. For the developer, it ensures that people would not be walking away from their investments leaving them with lots of apartments that they will not be able to sell. It would also be good for property market overall.

And when is that likely to be?

Its expected any time as a final solution to Dubai real estate market:master:

Its expected any time as a final solution to Dubai real estate market:master:

I certainly do hope so!!

I it might also help to stop all the negative sentiments in the market, the picture of doom and gloom that everyone is painting and literally TALKING the market down.

I think glass coming soon,maybe tomorrow?

Some furniture staff already there, kitchen or wardrobes?

29/January/2009

Zumurud Tower

http://img185.imageshack.us/img185/8775/imresolt087ly5.jpg (http://imageshack.us)

http://img91.imageshack.us/img91/7963/imresolt089er8.jpg (http://imageshack.us)

http://img185.imageshack.us/img185/8642/imresolt090cd5.jpg (http://imageshack.us)

http://img98.imageshack.us/img98/2531/imresolt094ke5.jpg (http://imageshack.us)

http://img294.imageshack.us/img294/338/imresolt093me1.jpg (http://imageshack.us)

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http://img91.imageshack.us/img91/6949/imresolt097dc3.jpg (http://imageshack.us)

Thnx Imre, fantastic pictures yet again. Very re-assuring! I check this thread at least 3 times a day to see if Imre has posted some new pictures. Well done and keep it up!!:applause:

Very good progress,it should boost the value of your apartments Najam,Do u think end of the year is a realistic completion date?

maybe end 2009 is still possible but we have to see the progress of the cladding, if the progress fast this year is ok if not just in 2010.
good sign that some furniture arrived.

last 2-3 weeks I didnt see any offer in the resale market of the Zumurud.

Imre, thanks for the update, there are few one beds available for sale at alineah but no studios at all.

Very good progress,it should boost the value of your apartments Najam,Do u think end of the year is a realistic completion date?

I don't know if end 2009 is a realistic completion date; probably you guys know better than me. However, I had a chat with the GM of Bin Hamoodah 2 weeks ago and he reassured me that the project was on track for completion as planned. They were not anticipating any delays...

My information from Bin Hamoodah handing over will start on Oct. 2009, they told every thing now in place, AC chillers fixed , lifts installation under progress and more important aluminume works started.

I saw good progress of the aluminium works , few floors at the west side almost done.

I think, once the glass arrives the cladding will be very fast.

^^
i went past Zumerud last night and noticed that theyve started fitting some glass on the side of the building.

My information from Bin Hamoodah handing over will start on Oct. 2009, they told every thing now in place, AC chillers fixed , lifts installation under progress and more important aluminume works started.

October is too soon - I will not be in Dubai before December... But lets see - finializing last issues always takes longer time than planned..

Thanks again again to Imre for the updates.

^^
i went past Zumerud last night and noticed that theyve started fitting some glass on the side of the building.


I saw today, that is just the old facade test, still no glass but aluminium works fast.

Hamoodah guys have proved to be one of the most reliable developers in Marina. Me no have any problems investing in them. And now for something completely different - have anyone ever heard of Zumurud escrow account? :lol:
Whereas Marina Star has escrow account :bash:

I dont care about the escrow account, they have money this is more important for me.

They have 30floors, Marina Star still has just a hole.What are you doing with the escrow account there?

Hamoodah guys have proved to be one of the most reliable developers in Marina. Me no have any problems investing in them. And now for something completely different - have anyone ever heard of Zumurud escrow account? :lol:
Whereas Marina Star has escrow account :bash:

Bin Hammodah properties have a very good track record in Abu Dhabi and Zumurud project will be completed in time because iam told that they have no cash flow problems, in fact the developer still holds several units which will be sold at completion including studios. If Botancia Studios which haven't even started are changing hands now at 1 million, then Zumurud Studios must be worth 1.2 now and 1.5 on completion.

OK Imre, what do you think a studio in Zumurud is worth?

would you buy for 1.2 million?:) I dont think so.

I doubt the 1 million for Botanica, when will be ready after 5-10 years?

1-1.1 million :)

but if I want to sell for 900K , I cant

Zumurud Studios must be worth 1.2 now and 1.5 on completion.

What do you prefer 2 bed in marinascape for 1.7m or a studio in Zurumud for 1.5m? I think you have to wait for all the bargins and defaulted property to be bought first and for finance to come back to the market. Maybe in 2 years it will be possible to sell at a reasonable value again.

I prefer 2 bed in marinascape for 1.7 but how do you find one for this price Steve?

What do you prefer 2 bed in marinascape for 1.7m or a studio in Zurumud for 1.5m? I think you have to wait for all the bargins and defaulted property to be bought first and for finance to come back to the market. Maybe in 2 years it will be possible to sell at a reasonable value again.


Steve you keep quoting this MS at 1.7m why dont you just buy it man and be done with. I will tell you why, because it aint there. There is one in HORIZON at that price and you can get it for 1.55 if you got some folding.

These fantastic guys are behind GMC dealership in AUH and OASIS water brand. There are no cash flow problems

2 BR+M 1500+ sqft1.9M, very soft payment plan

Does anyone know if there are any bargains out there for 1 BR completed unit in marina? A friend of mine wants to buy one!! Cash buyer....:nuts:

still no glass

09/February/2009

Zumurud

http://img16.imageshack.us/img16/5054/imresolt008yp6.jpg (http://imageshack.us)

http://img16.imageshack.us/img16/9121/imresolt013cn7.jpg (http://imageshack.us)

http://img502.imageshack.us/img502/8756/imresolt042fl8.jpg (http://imageshack.us)

http://img16.imageshack.us/img16/1377/imresolt044rs7.jpg (http://imageshack.us)

Seems like very little progress and a small number of workers. Seems like my chrismas handover date will hold - or even slip !

only question, which christmas:)

Do you have any info about the glass?

only question, which christmas:)

Do you have any info about the glass?

Dosent matter what christmas - still best time for me to get on vacation :) I will ask about glass tomorrow - I will let you know..

after opining the new bridge near Zumurud, the locatin became more atractive, just 5 minutes walking to the beach....

still the one bed renting for 110 +

Imre , why u r worried about the glass?

^^ :hilarious

Imre , why u r worried about the glass?

not worried, just waiting for the glass:)

:cheers:

not worried, just waiting for the glass:)

:cheers:

I have not heard anything yet. What about the roof construction - anyone have an opinion how far this is from being done ?

I saw the site today , the old glass (facade test) removed and nothing new.

anyway good progress of the aluminium works and the stone panel cladding.

I saw the site today , the old glass (facade test) removed and nothing new.

anyway good progress of the aluminium works and the stone panel cladding.


i saw the start of the stone panel cladding also. i think this building is gonna look great!

i saw the start of the stone panel cladding also. i think this building is gonna look great!

So that means Imre should post something nice...

So that means Imre should post something nice...

yes but where is the glass?:) :cheers:

13/February/2009

Zumurud

http://i43.tinypic.com/24dersg.jpg

http://i39.tinypic.com/fkxjsg.jpg

http://i44.tinypic.com/2hwlbth.jpg

http://i39.tinypic.com/n5ifrl.jpg

http://i43.tinypic.com/f5dh0y.jpg

http://i40.tinypic.com/29komzq.jpg

I think that many of the developers are seeking new contracts as prices may have dropped - just my imagination - but this might be the issue here regarding the glass.

Glass is not critical as the aluminum, by seeing these great photos Imre, it’s clear that handing over end of year is determined by the developer.

Good color choice for the stone, I hope that the glass is blue, not green
:lol:

I spoke the developer today, dont worry about the glass, already arrived, blue.

First of all they are doing the aluminium works, stone panels cladding , glass cladding just later.

Completion date is still end of 2009, we will see.

^^ From you're last trip to Dubai Marina ... Did you notice any sign of Installation frames and glass cladding there .

" Marina Wharf I " :)

17/February/2009

Zumurud

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Building is so nice, more than expected

where is every body?

OK. Just come back from Dubai. Saw the building, looks great, progress good. Went up the stairs to see my apartments. Generally very good finish but I was not happy with the choice of tiles in the bathrooms which I think clashes with the work top. Told the contractors about it. They said that that we have to speak to Bin Hamoodah direct and then it could be changed; perhaps. Spoke to the contractors about various issues, including completion and delivery. It all seems to be going according to plan and subject to DEWA connections etc. hopefully end of the year or at worst Jan/ Feb 2010, which I think is still pretty good. It seems that the contractors have been paid up front for this job so they are going full steam ahead and have drafted in extra labour to finish on time. Unfortunately couldn't take any pictures but they would not have been any different from what Imre has already posted recently!

OK. Just come back from Dubai. Saw the building, looks great, progress good. Went up the stairs to see my apartments. Generally very good finish but I was not happy with the choice of tiles in the bathrooms which I think clashes with the work top. Told the contractors about it. They said that that we have to speak to Bin Hamoodah direct and then it could be changed; perhaps. Spoke to the contractors about various issues, including completion and delivery. It all seems to be going according to plan and subject to DEWA connections etc. hopefully end of the year or at worst Jan/ Feb 2010, which I think is still pretty good. It seems that the contractors have been paid up front for this job so they are going full steam ahead and have drafted in extra labour to finish on time. Unfortunately couldn't take any pictures but they would not have been any different from what Imre has already posted recently!

Many thanks Najam for the good update.

Got this email from Zumurud. They seem very confident for completion and handover date.


Dear clients , be ready for handing over, by end of this year , as per program, for the first time in Dubai!!

This is what we do in Bin Hamoodah properties, deliver in the hard times, this is our strength.

Thank you

Reyad Yakot

General Manager

P. O. Box: 203 Abu Dhabi
United Arab Emirate
Mobile: 00971506612889
Fax: 009712 6261386
E-mail : reyad@binhamoodah.ae
www.zumurud.com
www.binhamoodahproperties.ae

Got the same, I think 1st quarter of 2010 is more realistic.

Property advertised in Betterhomes

Apartment - Zumurud
An investment for capital growth
Ref No: AP71719
Location: Dubai, Marina Emirates Living District, Dubai Marina
Approx. size: 374.4 sq.ft
Floor no. 19th
Approx. price AED 599,220
View: Marina
Completion date September 2009

27/February/2009

Zumurud

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WOW, these guys are serious!!
Great shots Imre, finally the glass arrived, beautiful color.

very nice glass , much better than the old facade test :)