^^ didn't glover did say he paid his last installment through escrow account for the bay central..so how come they are not in the list??

oh well investors shouldnt worry that much..i mean this is DUBAI SELECT!!! :D

Hi all...
any updates at BC site..

as somebody mentioned about new office blocks...how is progress...looking forward for new pictures...

i am comin to Dubai First time on 01.02.2008...have informed to DS at UK office...lookin forward

i dont know why Imre is not posting any pictures for Bay Central???

comon Imre........:banana:

I've been looking at the RERA list..
http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=598

Is this Bay Central with some spelling mishtakes?

18 CETRAL DEVELOPMENT LTD (OF)

^^^^ that must be it, a spelling error in the name. they also misspelled KPM's developer name, 299 NEW WOLD INVESTMENT LTD. i am sure there are other typos in the list.

I agree it must be a spelling mistake.............the list looks like it's been typed by a 10 year old. :lol:

I agree it must be a spelling mistake.............the list looks like it's been typed by a 10 year old. :lol:

Please do not disrepect 10 year olds...I have found a new sense of respect for them from watching the show "Are you smarter than a 10 year old?"

This list has obviously been put together by a team of highly trained monkeys professionals! :lol:

Anybody got any recent pics, have they started the "bearing" piles yet.

some pictures i took this morning with my old camera.

http://img168.imageshack.us/img168/2405/dscf0014ph9.jpg (http://imageshack.us)


al-fattan office
http://img223.imageshack.us/img223/1911/dscf0013no3.jpg (http://imageshack.us)

^^Nice Pics Glover.

:applause:

Can't wait to see some pics from your new camera!

04/January/2008

Bay Central

http://img262.imageshack.us/img262/5935/imresolt139fr4.jpg (http://imageshack.us)

http://img341.imageshack.us/img341/9169/imresolt140mp8.th.jpg (http://img341.imageshack.us/my.php?image=imresolt140mp8.jpg)

Nice Pics IMre.

Nice pics Imre.
Doesn't look like there has been much progress since the last set of pictures.

Looks like they have not done anything from last 2 months...

am i right???

Also i could not find Bay Central namce in RERA list.....

things are not looking positive...

please advice...

I think they appear in the lst as

CETRAL DEVELOPMENT LTD (OF)

but it is worth checking with Dubai Select first.

the office building behind bay central is making better progress

Yes the slow progress is really annoying me now! http://www.mysmiley.net/imgs/smile/fighting/fighting0086.gif

passed by bay central site today evening, saw quite a few workers - dont know what they were doing exactly though.................
the dubai marina mall hotel building already looks quite imposing

i dont know how they gone build 3 towers together ..

they may give priority to hotel project and may delay residential tower by 2 years....as nothing is going on at site...

i never seen more than 20 workers at site in any of pictures....dont know wats goin on????..

last 3 months nothin has been done....

They are all at the Torch Site, I was not kidding when I said DCE moved workers from BC to Torch when I was there Nov/Dec. 07.

DCE has nothing to do with the lack of progress here. The piling will be done by ZUBLIN and untill they finish their work, no DCE staff will be present on this site.

If anyone is to blame, is the developer.

DCE Were already on the BC Site and Some of them were moved to the Torch for sure. :cheers:

There were not a great number but they were on site.

are Zublin doing piling here or DCE ?

DCE???

They don't do piling work ... unless they sub-contract the work to someone else. Machineries on site seams to be from BAUER, but Zublin used some of their machineries too on the Torch site. (BAUER does piling/ground work, as well as producing and leasing equipments)

If you refer to my photos a few pages back, all of these workers were DCE and the week before there were more of DCE workers that were moved to the Torch.

^^ :lol: Beppe have you given up waiting ?

^^ :lol: Beppe have you given up waiting ?

i would wait because this is the prime location in dubai, but i have another project too fund.. if i get the right price ill sell other wise keep it.. its only gonna go up in price,

slow progress isnt good, i would hate too wait longer than the completion date, but too get a good flat you have too buy early on or pay a premium later when built

DCE???

They don't do piling work ... unless they sub-contract the work to someone else. Machineries on site seams to be from BAUER, but Zublin used some of their machineries too on the Torch site. (BAUER does piling/ground work, as well as producing and leasing equipments)

SP confirmed for me last year that the piling is being done by Bauer whereas Zublin did it for The Torch.

I've no idea why DCE would be on the BC site yet, they don't do piling so they would not be turning up on site for a few months yet until all the piling has been completed.

No (direct) property advertisings please, you know that.

I Like your Style Altin :applause: :applause:

I spoke to Dubai select today and they say that 96% of the development has been sold.

I didnt ask about completion date as no doubt they would still tell me December 2009!

:nuts:

i have my one bed centre tower 21 floor marina facing for sale anyone intrested please private message me.

from select property website it looks like they have increase price more than AED 1550/SQ feet as yday friend of mine got list of apartment for sale...

according to that list prices are around AED 1560/sq feet for 12 floor type 3 1 bed @ Bc apartment also about same price for West Tower as well...

How much was that unit at launch / prelaunch ? Interesting to see how prices went up in 2007.

Not sure if this has been posted here before, appologies if it has.

Worth a look if you havn't seen it though.

http://www.selectproperty.com/invest/dubai/investment-property/bay-central/video-tour/

from select property website it looks like they have increase price more than AED 1550/SQ feet as yday friend of mine got list of apartment for sale...

according to that list prices are around AED 1560/sq feet for 12 floor type 3 1 bed @ Bc apartment also about same price for West Tower as well...

AMAZING!

They must be the envy of the Real Estate business in Dubai.

Not sure if this has been posted here before, appologies if it has.

Worth a look if you havn't seen it though.

http://www.selectproperty.com/invest/dubai/investment-property/bay-central/video-tour/

Anyone got a DVD quality version of this video?

I have it on DVD. Not online.

If you call DS they will send you a DVD

If you call DS they will send you a DVD

Tried that - they told me they had run out...

Tried that - they told me they had run out...

Here is an offer you can't refuse, You can have mine as long as you buy two apartments to go with it :lol:

Oh s**t, does this count as direct selling? Altin will not be very happy, forget about this!!

I have it on DVD. Not online.

Any chance you could put it online? Maybe as a torrent?

I'll buy you several beers in Bay Central! :cheers:

How much was that unit at launch / prelaunch ? Interesting to see how prices went up in 2007.

Steve
Unit 1203 was 1,165,685 at launch, it is a type A which is 935.219sqft including balcony, 781.5 sqft excluding. So was either 1246/sqft or 1491/sqft depending on which area you use.

Pre release the units were discounted by a further 2% so 1221/sqft or 1461/sqft

if there is a big delay on completion of bay central.. would it be better or worse beeing on the 15year payment plan, paying all that interest..

if you was on a normal plan then you would pay your balance and just wait..

i think normal plan would be a better option dont you think?

the price i have mentioned earlier was with balcony...so total including balcony was around AED1567/sq feet...and that is for the 12th floor...the higher you go...more you pay....looking around AED 1600/sq ft above 20h floor...

also i am comin to Dubai first time---i was wondering how can i go to beach behind bay central site.....it looks like walking distance...are tourist allow to go to the beach??? or just for the hotel & JBR resident??

looking forward...cant wait.....:nuts:

the price i have mentioned earlier was with balcony...so total including balcony was around AED1567/sq feet...and that is for the 12th floor...the higher you go...more you pay....looking around AED 1600/sq ft above 20h floor...

also i am comin to Dubai first time---i was wondering how can i go to beach behind bay central site.....it looks like walking distance...are tourist allow to go to the beach??? or just for the hotel & JBR resident??

looking forward...cant wait.....:nuts:

just go too the beach no one will say anything... theres a car park between osasis beach hotel.. just walk up the car park and you come too the beach

just go too the beach no one will say anything... theres a car park between osasis beach hotel.. just walk up the car park and you come too the beach

thanks for the info

the price i have mentioned earlier was with balcony...so total including balcony was around AED1567/sq feet...and that is for the 12th floor...the higher you go...more you pay....looking around AED 1600/sq ft above 20h floor...

also i am comin to Dubai first time---i was wondering how can i go to beach behind bay central site.....it looks like walking distance...are tourist allow to go to the beach??? or just for the hotel & JBR resident??

looking forward...cant wait.....:nuts:

oasis beach is not nice . go into le meridian. browse around shops then walk down their pool area to beach. then you can walk the length of beach looking at jbr on one side and palm on the other. have a goodtrip you will enjoy it. if you have time go one evening to grosvenor house hotel lounge 44 for a drink and you can admire the whole of the marina including bay central views at night. it is really stunning. have a good trip. :cheers:

the price i have mentioned earlier was with balcony...so total including balcony was around AED1567/sq feet...and that is for the 12th floor...the higher you go...more you pay....looking around AED 1600/sq ft above 20h floor...

also i am comin to Dubai first time---i was wondering how can i go to beach behind bay central site.....it looks like walking distance...are tourist allow to go to the beach??? or just for the hotel & JBR resident??

looking forward...cant wait.....:nuts:

other option is to go into Le Meridian hotel browse aroundshops. then walkthru pool area to the beach. then you can see the whole of jbr on one side and palm on other.
also go upto Grosvenor House hotel one evening to lounge 44 for a drink. and you can see the whole marina by night. promise you it is a stunning view. have a good trip.:cheers:

YOUR RIGHT THE BEACH BEHIND BAY CENTRAL ISNT THE BEST..

Hello everybody,

I am interested in buying a 1 bed room apartment in Bay central possibly at the very top floors facing marina mall area. Anyone please let me know how much will it cost? and the size of 1 bed flat?

What is best bay central or botanica?

I looked at some of the floor plans for the 1,2 flats and it looks to me that the site/plot is rather extremely smaller in size but perhaps this is better for renting purpose.

Also the plan is stretched over 15 yrs which could give the developer a free hand to build the apartment over a span of 5 years quite easily? so is there a penalty on the builder if it does not complete by 2010?


Thanks

All the marina facing flats and high floors have gone.. i think only a few left facing the back osasis towers which dont have marina views..

bay central is better beacause of the 5 star hotel and marina views

i have a one bed if your intrested private message me

thanks

'Beppe786' & 'DXBGO' for your advice about how to go to beach??

i also looked into some pictures posted by Imre....now i know where to go....:banana:


anyone pleas post some new pictures..

Steve
Unit 1203 was 1,165,685 at launch, it is a type A which is 935.219sqft including balcony, 781.5 sqft excluding. So was either 1246/sqft or 1491/sqft depending on which area you use.

Pre release the units were discounted by a further 2% so 1221/sqft or 1461/sqft

This seems rather high to me considering what you can get around the marina for that sort of price/psf.

What are DS saying about the build pace here, arn't investors asking questions ?

Whats the official DS lie, ahh i mean line?

..........according to SP eveything is on schedule for completion and hand over December 2009. :nuts:

thanks

'Beppe786' & 'DXBGO' for your advice about how to go to beach??

i also looked into some pictures posted by Imre....now i know where to go....:banana:


anyone pleas post some new pictures..

i have just returned from dubai. wll ask my busy 16 tear old son to post some pictures for you all. at present he is busy selling his custom made i pod skins from his web site pimp my i pod. i am sure he will spare me 5 minutes to do so:bash:

the torch and point still are not completed torch people are getting compensation from select property for the dalay.. how much do investors get? if the BC is delayed when doo we officially we get pay compensation??

Posted November 2006;

Three Tower Marina Project Launched with Escrow Account

Dubai Select, a specialist developer of luxury investment property in the Emirate state, has become the first property company in Dubai to offer its customers the security of an escrow account, giving purchasers full protection of their funds throughout the construction period. The account is being launched in conjunction with Dubai Selects latest flagship development, Bay Central, a three Tower project at the very centre of Dubai Marina which combines residential property with a five star hotel.

Barclays Bank has structured this escrow account as the first of its kind. Its innovative structure will enable property investors to securely hold their advanced payments during the construction phase of Bay Central. Emaar Properties will be the signatory on the account, providing security of funds, ensuring regular monthly updates on constructional cash flow are made and that progress of construction is maintained.

Commenting, Mark Stott, Managing Director, Dubai Select: “We have always adopted an open approach with our customers, giving them secure web access to their payment schedules and regular build updates. The escrow account is a more formal extension of that transparency”.

About Bay Central

Bay Central stands less than 8 metres from the waters-edge, preventing future buildings being constructed in front of it, ensuring that the spectacular views of the marina are maintained. The two residential towers, Bay West and Bay East, contain 388 properties in each, including: studios from £79,950, 1 bedroom apartments from £117,009, 2 bedroom apartments from £176,000, 3 bedroom marina suites from £278,923 and 5 bedroom penthouses, which all have 5 balconies, maid quarters and a private Jacuzzi, from £743,367.

Residents of Bay West and Bay East will each have their own full range of amenities including: temperature-controlled swimming pools, shaded pool area, sauna, steam room, gymnasium, shopping and dining facilities, secure underground parking, 24 hour security, concierge desk and spacious lobby, professional house keeping service, children’s play area, and 24 hour maintenance and supervision.

Staying true to Dubai’s reputation as a luxury destination each property is designed to the highest specification, with contemporary styling and the use of marble and granite. Each property is also fitted with the latest internet and telecommunications systems.

Tower three of Bay Central, which will located in the centre of the development, will be a hotel and serviced apartments. Dubai Select property is launching this in conjunction with a 5 star International hotel chain, the details of which will be announced shortly.

All 3 towers will be completed in 2009 which coincides with the completion of the whole marina development.

Dubai Select is offering it customers a choice of 2 payments plans on the development, a standard plan with payment over 3 years and a lengthy plan which extends the terms over 15 years.

Reading this all again with the benefit of hind sight shows us how well they are doing, or not. When this was posted with 3 years and 2 months to completion, you could believe it was possible. After 14 months they don't even have the foundation piles installed, they just show how good they are at this developing game they are playing.

This seems rather high to me considering what you can get around the marina for that sort of price/psf.

High Times

I agree, when I bought central tower pre-release in March I paid around 1300AED psf, which I thought was really steep, but I got first choice of exactly the unit I wanted and have got guaranteed unobstructed marina facing, in the location I wanted, so I was willing to pay the premium.

DS new pricelist would have you paying about 1600 AED psf for a similar unit (so I suppose I could try and convince myself it was good investment) but I believe all the direct marina 1 beds are sold.

I havn't wasted my time asking DS/SP for a realistic completion date. I am assuming a minimum 12 month delay, so Dec 2010 earliest, as this is when the compensation clause kicks in

with the current pace they are going at, i am shooting for spring 2011.

read somewhere that dubai authorities are processing one million visas for chinese and vietnamese construction workers, maybe that will speed things up!

what can we doo? nothing even if theres a 3 year delay?

we should be able too hold on the payments, put i dont think we can as payments have too be made on dates on the contract...

i dont like the feeling of paying for something and waiting having your money tied up for an extra year or two..

There are not many projects in Dubai that are on time. Most are at least 1 year delay. I would say minimum 2011 for BC.

Any one heard these guys who advertise on here for resale of property in dubai... are they any good?

Openshore property
Unit 1, Time Technology Park
Simonstone, Burnley
Lancashire, BB12 7GT

new gossip from Dubai Marina (from Imre) :

Oasis Beach Hotel will be removed and in that site going to be a new hotel with 90 floors, front of the Al Fattan Marina Towers.

this is just gossip, nothing confirmed

new gossip from Dubai Marina (from Imre) :

Oasis Beach Hotel will be removed and in that site going to be a new hotel with 90 floors, front of the Al Fattan Marina Towers.

if any one has been inside oasis beach hotel it is no surprise that it needs knocking down.it would add to value of bay central having a class hotel instead of oasis beach. we walked into oasis beach hotel on morning it was like going into a 3 star resort in spain.:banana:

its oasis beach is four star and isnt very nice

oasis beach towers is five star and much better apartment hotel

Wednesday, 16 January 2008
Law 8 And The Introduction Of Escrow Accounts

Following the recent growth in the market for property in Dubai, legislation has become necessary to protect the interests of investors who places funds with developers as deposits against offplan property. Concerns that these funds were not solely used for the construction of the associated project have led to the introduction of Law 8, and the establishment of mandatory escrow accounts for property developers.

Under Law 8, every new property development in Dubai must have a compulsory Escrow account to protect the interests of investors in the development. It is widely thought that Law 8 will soon be extended to cover all existing property developments in Dubai.

The overall result of the introduction of Law 8 has been a greater degree of legislative control on the property development industry in Dubai, as well as noticeable slow down in the launch of new property developments in the region. However, Law 8 has also passed a greater degree of confidence back to the individual investors, removing concerns such as costly delays in construction. With the introduction of the new legislation, investors can be confident that the funds they place with the developers as deposits will be used for construction purposes only, and specifically on their project.

Escrow accounts will see investors funds being held in trust and protected by an impartial third party institution (usually a major bank). These funds are subsequently earmarked for the construction of the designated project construction only.

new gossip from Dubai Marina (from Imre) :

Oasis Beach Hotel will be removed and in that site going to be a new hotel with 90 floors, front of the Al Fattan Marina Towers.

Oasis Beach Hotel closes on 1 September 2008.

its oasis beach is four star and isnt very nice

oasis beach towers is five star and much better apartment hotel

You are joking! which part of Oasis Beach is nice?

You are joking! which part of Oasis Beach is nice?

i said its not nice...

if you have stayed in the oasis beach towers.. there apartments are nice:bash:

Very quiet here...Any updates?

this is just gossip, nothing confirmed

i did hear that the plans on paper at least is confirmed..

apparently the developer is al fattan themselves...
a friend is looking at the 89th floor if it is confirmed...

i did hear that the plans on paper at least is confirmed..

apparently the developer is al fattan themselves...
a friend is looking at the 89th floor if it is confirmed...

then bay central back apartments will have even more restricted sea views

Here goes....Not very interesting though...

http://www.selectproperty.com/regions/dubai/bay-central/resources/images/January2008_large1.jpg

The back wall of the prime Bay Central plot is now completely excavated.

http://www.selectproperty.com/regions/dubai/bay-central/resources/images/January2008_large2.jpg

The first level of the tie backs are finished on the shore wall.

http://www.selectproperty.com/regions/dubai/bay-central/resources/images/January2008_large3.jpg

http://www.selectproperty.com/regions/dubai/bay-central/resources/images/January2008_large4.jpg

The back wall of the prime Bay Central plot is now completely excavated.

^^ :ohno: What is the machine doing in the next picture? Still digging it out :bash:

Of course it's "completely excavated " surely we can all see that.:nuts:

:nuts: :nuts: :nuts: fantastic progress :nuts:

I can't understand the last picture.............if you look at the "tie backs" they are all at ground level whereas on the other pics they are about 6 feet above ground. So the last photo shows no recent excavation at all. Is this just an old photo that has been mistakenly slipped into the latest update or is there really a large section that has not been excavated yet ??

^^ :ohno: What is the machine doing in the next picture? Still digging it out :bash:

TB> What's the difference between the back wall and shore wall?

"or is there really a large section that has not been excavated yet"

you got it right, that's what i am seeing right now from my living room (yes, i can see the site from here). it looks about 1/3 of the back wall still needs to be excavated, right next to the site's entrance.

I've just read the update again and I've got it wrong, SP are not actually saying all the excavation has been done:

"The back wall of the prime Bay Central plot is now completely excavated."

OK glad thats sorted, so this will be the fasted build in the marina,because using SP logic when the first floors finished the tower will be complete,except for the floors above it.

"or is there really a large section that has not been excavated yet"

you got it right, that's what i am seeing right now from my living room (yes, i can see the site from here). it looks about 1/3 of the back wall still needs to be excavated, right next to the site's entrance.

Pictures please!!!! Or better yet could you point your web cam at the site for us????
:lol:

HAVE A QUESTI0N -HAS ANY 0NE 0N THE 15 YEAR PAYMENT PLAN SIGNED THE ASSIGNMENT LETTER ...............AS AN ADDITI0NAL D0CUMENT T0 THE
C0NTRACT.........

HAVE A QUESTI0N -HAS ANY 0NE 0N THE 15 YEAR PAYMENT PLAN SIGNED THE ASSIGNMENT LETTER ...............AS AN ADDITI0NAL D0CUMENT T0 THE
C0NTRACT.........

Yes I have.

HAVE A QUESTI0N -HAS ANY 0NE 0N THE 15 YEAR PAYMENT PLAN SIGNED THE ASSIGNMENT LETTER ...............AS AN ADDITI0NAL D0CUMENT T0 THE
C0NTRACT.........

What are your concerns + what is this assignment letter all about?

Does anyone know what a fair price would be for a 2 bed apartment 985 sq ft? Marina facing, in Central Tower 38th floor?

Cheers

Photo of plot, viewed from Marina Promenade - courtesy of OmarPERU

http://i31.tinypic.com/zk35s3.jpg

Yes I’ve seen it on the other thread and it is bloody depressing :bash:

Very depressing considering Marina Promenade was launched only just over 1 year before this and now everyone is moving in there already and the apartments are so much larger than in BC.

They just have a handful of equipment and workers nowhere near enough for a plot this size. Although there are three towers it shouldn't take any longer than a single tower development, you just simply employ a bigger workforce and more machinery.......as per Marina Promenade.

TT launch was June'05 and all piling was completed by September '06 ie. 15 months later. BC was launched November'06 so on the same basis all piling should be completed this month. They haven't even started the bearing piles yet !! Fxxxx knows when this place is going to be completed, certainly not Dec'09 as SP keep promising.

I don't know what SP's plan is here but could be this:

1. They've received hell of a lot of cash now, from those paying 90% upfront and also the factoring of the long term payment plan debts with their bank. The longer they take over construction the longer all this money sits in their bank account earning interest, thereby increasing their profit. What incentive have they got to finish the job within a reasonable timeframe ?

2. Many people aren't going to be able to keep up their payments on the long term plan and even those who've borrowed to finance the 90% option may struggle with their interest payments if borrowed say from equity back in the UK. So the longer this goes on, the more people will have to sell up, perhaps back to SP at original launch price. SP then sell on again and make another useful chunch of profit.

There's definitely something going on here...... I would have expected the piling to be finished about now........ I bought into this on the expectation that construction would be comparatively quicker than TT with the Hotel involvement, opening date of hotel as a deadline, big brand name involved, etc. etc. .....now where did I put that bottle of cheap whisky, I need to take away the pain.

Good job you didn't buy here Mackie.

^^

Morris you will be put on disaplinary with comments like that

And True Blues Christmas card list

This will probably be one of the last developments to be completed in the marina apart from damac heights and botanica.

^^

Morris you will be put on disaplinary with comments like that

And True Blues Christmas card list

I know. I'm sorry but I've got to tell it as it is. All I need is to see Silverene above ground level in 6 months time then I'll seriously consider topping myself. :lol:

Perhaps they are saving up interest to pay for TT compensation. :D

I know. I'm sorry but I've got to tell it as it is. All I need is to see Silverene above ground level in 6 months time then I'll seriously consider topping myself. :lol:

:lol:
COM’ on Silverene.

Good job you didn't buy here Mackie.

Count me in as well :).

We did :cry: :cry: :cry:

You kept telling me how good it was :bash::bash:

May be Steve can buy them @AED1700/sqft

I know. I'm sorry but I've got to tell it as it is. All I need is to see Silverene above ground level in 6 months time then I'll seriously consider topping myself. :lol:

Don't be so hasty. Atleast wait until I pick up the keys for my second apartment which should be in about 9 months. :D

Stop Showing off. Just because you have some keys and we had our tail pulled twice ….:cry: :cry: Actually its three times in Morris’s case :lol:

Actually I felt bad as soon as I clicked the [Post Quick Reply]. I must be softening in my old age.

Don't you think that SP are trying to spin too many plates all at the same time? Torch, Point and soon BC. Not easy for a fledgling company. Would have made more sense to start with The Point and move on to the next one once well underway.

^^ Ah, hindsight.

^^

Not really,

I think they felt that the best available plots were dissapearing fast so wanted to get the better locations secured instead of building just anywhere for the sake of it.

Good move for them, but yes investors will suffer in terms of delays i agree. Especially those stupid enough to have believed completions dates quoted in Dubai.

Who are you calling stupid? Wait until Morris comes back smart A** :lol::banana:

@ Morris;

He was asking you for advise only a few months ago, now he is an expert in Dubai and called you stupid :lol:

We did :cry: :cry: :cry:

You kept telling me how good it was :bash::bash:

May be Steve can buy them @AED1700/sqft

I would if they were completed. I already cancelled my BC unit, invested the cancelled deposit in another off-plan which was pre-construction and now is completing in a few months ready to move in with 100% return on investment already. :banana::banana: Meanwhile BC still looks like a sand pit.

:cry: :cry: Its not funny:cry: :cry:

You never tell me about the good stuff :lol:

^^

Not really,

I think they felt that the best available plots were dissapearing fast so wanted to get the better locations secured instead of building just anywhere for the sake of it.

Good move for them, but yes investors will suffer in terms of delays i agree. Especially those stupid enough to have believed completions dates quoted in Dubai.

I never believed the completion date of Dec'09 but thought that Dec'10 could be on the cards given this would be 4 years from launch in Nov'06. Also this is the date compensation becomes payable so did seem realistic to me. (Though if you're on the 15 payment plan this is peanuts and not worth even considering). However I seriously cannot see this date being met given the amount of work here. They should have 8 JCB's excavating a plot this size and I can only see 1 or perhaps there's 2 of them in the latest photo. At this rate we'll be lucky to have all the piling done by year end. Then I doubt they could finish this within 2 years so maybe Dec 2011 is likely ??
Could it be that there is no building contractor signed up yet, we know it should be DCE but they're looking fairly commited elsewhere. If no contractor signed up perhaps that's why they're going slow with the piling work ?? Also why are they excavating lower at this stage, isn't this normally done when all the bearing piles have been inserted more or less at ground level ?? Are they just marking time then ?? I could go on and on, guessing this and guessing that....... but of course we'll never know what's really happening behind the scenes. No point contacting SP all they'll say is we're on track for Dec'09 what's the problem.
However given that this is the prime plot in the Marina they must have convinved Emaar that they're up to the job, again this is something else that persuaded me there'd be no problem here.

I already cancelled my BC unit, invested the cancelled deposit in another off-plan which was pre-construction ....

Good for you. Are you stating that you got your deposit back?

As a buyer here I share these concerns but the fact is that many projects in Dubai are behind schedule and the target dates set by developers must be taken with a pinch of salt - after all its just sales talk. The crux is the compensation clause which kicks in late 2010. This is the date that SP must complete by or they will lose money and thats not their game. Yes of course they take our deposits and our 6 monthly payments and yes this is how they fund their other projects. But the Point is now almost complete (I think) and the Torch is now progressing so its not all doom and gloom. Hopefully one day I will have a very nice pad in undeniably the best spot in the marina. I just wish payments had been linked to construction progress like some of the Damac developments.

As a buyer here I share these concerns but the fact is that many projects in Dubai are behind schedule and the target dates set by developers must be taken with a pinch of salt - after all its just sales talk. The crux is the compensation clause which kicks in late 2010. This is the date that SP must complete by or they will lose money and thats not their game. Yes of course they take our deposits and our 6 monthly payments and yes this is how they fund their other projects. But the Point is now almost complete (I think) and the Torch is now progressing so its not all doom and gloom. Hopefully one day I will have a very nice pad in undeniably the best spot in the marina. I just wish payments had been linked to construction progress like some of the Damac developments.

^^There's one born every day :lol:

Whats the difference between sales talk and lies? Most projects run upto 1 year late, all SP projects will be atleast 2 years late and they won't have any money left to pay compensation.

True Blue I'm not a simpleton just a realist. I didn't fall for all the SP sales talk and I know that this project will run around 2 years late. I knew that at day 1. I doubt SP will not be around to pay compensation as you suggest.

I never believed the completion date of Dec'09 but thought that Dec'10 could be on the cards given this would be 4 years from launch in Nov'06.

Morris,

Just for the record i was not accusing you of being stupid.

That was aimed at you and quoted out of context, al be it in good humor, I'm sure. :)

True Blue I'm not a simpleton just a realist. I didn't fall for all the SP sales talk and I know that this project will run around 2 years late. I knew that at day 1. I doubt SP will not be around to pay compensation as you suggest.

I was just having a friendly jibe at your awareness of progress at the Point. :)

Taken a few weeks ago;
http://img246.imageshack.us/img246/265/imresolt040cd7.jpg

^^There's one born every day :lol:

Whats the difference between sales talk and lies? Most projects run upto 1 year late, all SP projects will be atleast 2 years late and they won't have any money left to pay compensation.

What's with the 2 years? Try 3, 4 or even 5 :bash:

Morris,

Just for the record i was not accusing you of being stupid.

That was aimed at you and quoted out of context, al be it in good humor, I'm sure. :)

He knows, we love to tease him :hug:

As the President of DS/SG fan club, he takes all the flak as a good PR guy should :lol:

True Blue - I accept your point re The Point.

TB - IT ACTUALLY LOOKS TO BE MOVING UP - WHEN DID YOU TAKE THIS ? - I,M POVER NEXT WEEK SO I WILL SEE FOR MYSELF BUT IT LOOKS LIKE A MID 2009 FINISH AT THIS RATE WHICH I COULD LIVE WITH "JUST" HAVING BOUGHT SEPT 07

Morris,

Just for the record i was not accusing you of being stupid.

That was aimed at you and quoted out of context, al be it in good humor, I'm sure. :)

Hi Times

No offence taken at all, I didn't even think anything of it, too busy with my rantings and ramblings about contruction last night. I knew it was meant the right way, as Mackie says as President of the DS Fan Club I've grown a very thick skin now. :lol:

Regards, Morris. :kiss:

I am getting worried now, I was about to buy a one bed from a regular poster here. I might change my mind and wait till I see some work done.

I am getting worried now, I was about to buy a one bed from a regular poster here. I might change my mind and wait till I see some work done.

more you wait more the price will go up... nearer completion

Still a good long term investment if you get a good price, as long as you can wait.

:banana:

what with the deal with compensation

people on a regualar payment plan and on the long term?

is the compensation is worked out on how much you have paid?

like people on the normal payment plan will have paid 90% so there get more money in compansation? am i right?

Yes they pay a % interest related to LIBOR on the total amount already paid. Those on the 15 year plan will get a reasonable amount back as they will have paid around 50% I think, including the 30% deposit.

Still a good long term investment if you get a good price, as long as you can wait.

like what iam doing right now :)

like what iam doing rigtht now :)

where all in the same boat

:bash: i'm sinking in the same boat as well.... progress is too slow...

i hope they change gears soon...

morris, can you please confirm that the 15yr payment plan people are also eligible for compensation... and how much...... :)



...

:bash: i'm sinking in the same boat as well.... progress is too slow...

i hope they change gears soon...

morris, can you please confirm that the 15yr payment plan people are also eligible for compensation... and how much...... :)



...


Hi Doctor,
Yes they are but I don't really want to discuss the exact details here..........there is a confidentiality clause.........if you have bought into BC then have a look at your contract or ring the Contracts Team at SP who will clarify anything for you.

there is a confidentiality clause.

:hilarious :banana:

You never fail to put a smile on my face Morris :lol:

Truth is I've read it several times tonight and I can't understand it.

................anyway shouldn't you be tucked up in bed by now Mackie ?? :lol:

No, Watching the US Comedy........oops, I meant elections :lol:

I want to buy a studio in this tower, please email me at ogarbuz@hotmail.com

^^

What the F**k is this - E-Bay Central ?

^^

What the F**k is this - E-Bay Central ?

LOL - Wish I had a Studio to sell instead of a 1 bed I'd be on to "e-bay central !" - Progress is disapointing here I must admit.

yesterday i received my user name and password for access to my BC online account. great feature, you can track payments and view your payment schedule, as well as the history of your purchase, in one online easy to use account.

this is really raising the service level a notch up in dubai when it comes to developers! anyone knows if other developers are offering the same!

^^ We had this for years now but it does not help us at all. We need something to be built. I am happy to loose my fantastic Platinum privileges for some floors progress.

Its all sales crap. W******krs. :ohno:

you just have to resign to the fact that there will be a minimum one year delay in handover, a little bit longer delay than average for dubai!

^^

You must be very optimistic on the efforts required to build a complex of three towers. Time will tell.

you must be very sure of your time estimate, would you like to share that with us!

^^

We are all guessing but judging from other DS managed projects and the current progress on the BC site, I see this project delayed way beyond the 2 year mark, possibly more.

i guess time will tell. thanks for sharing your estimates with us!

i think spring 2011 is doable at the pace they are going today.

8 more months for the foundation work + 15 months to topping out + 15 months to completion = 38 months from today = spring 2011

if more workers are allowed in the country (there is a rumor that the UAE government is processing 1 million visas for workers from china/vietnam), the pace could be faster.

i also think dubai select wants to make BC their flagship development in dubai, and thus will put more effort into completing it ASAP.

i guess time will tell. thanks for sharing your estimates with us!

i think spring 2011 is doable at the pace they are going today.

8 more months for the foundation work + 15 months to topping out + 15 months to completion = 38 months from today = spring 2011

if more workers are allowed in the country (there is a rumor that the UAE government is processing 1 million visas for workers from china/vietnam), the pace could be faster.

i also think dubai select wants to make BC their flagship development in dubai, and thus will put more effort into completing it ASAP.

OK - I have a conspiracy theory I just made up...

Emaar are having issues selling the Marina Mall (at very high psf) appartments because all the buyers say yes it's great appartment but what is happening at the BC plot?
Emaar tell BC to go slow or holds them up as they are master developer. They can then shift their appartments and tell future clients that nothing will be built at BC for at least 2-3 years.

I really think that once marina mall is finished, then there will be increased activity at BC. I also factored in a years delay when the salesman originally told me the completion date (and laughed uncontrollably in his face!) - I may need to revise that delay to a max of 2 years onto the original completion date.

So to summarise my gueses, BC Sales best case is Dec 2009, my best case is 2010 and my worst case scenario is Dec 2011.

If there are any BC Project Managers reading this forum - please get offline and build the f***ing towers!

i also think dubai select wants to make BC their flagship development in dubai, and thus will put more effort into completing it ASAP.

I am amazed that a clever bloke like you would really think so, They told us the Torch was going to be their Flagship as it is their first ever development. :nuts:

The Torch will also be complete before BC (whatever makie says) so it will be their show piece. Although I am not sure they will continue with any more releases in Dubai somehow.

I agree, the Torch could be completed before BC but I will get my £200 (from you and Foxy) as this will not happen before 2011. BC will be 2012 earliest.

I want to buy a studio in this tower, please email me at ogarbuz@hotmail.com

You missed the Torch thread, don't forget that one.

Would you like my bank account No?

Do you operate out of Nigeria by any chance?

***

You missed the Torch thread, don't forget that one.

Would you like my bank account No?

Do you operate out of Nigeria by any chance?

LOL:lol:

Even Nigerian con men dont want to buy in the Torch.

Heeeeeeeeeeeeeeeeelp :runaway:

LOL:lol:

Even Nigerian con men dont want to buy in the Torch.

Heeeeeeeeeeeeeeeeelp :runaway:

Damn right.

^^^^^^:lol::lol::cheers::lol::lol::bash:

Another pic from bhomes I have borrowed!

http://www.bhomescribs.com/international/image-viewer.aspx?imageurl=%2fui%2fL%2f24924%2f24924_16743.jpg&width=600

Nice pix + good overview of the marina mall. For me, some signs of action on the Silverene site. Now I get a feel for Imre comment on the marina being a bit narrow here. Cheers for sharing

I am amazed that a clever bloke like you would really think so, They told us the Torch was going to be their Flagship as it is their first ever development. :nuts:

if that's what they think, then they need some coaching in branding. which one do you think is more sexy and has more pizzaz, a single tower with some good views sitting on a road and surrounded by other tall towers, or a three-tower complex, including a five star hotel, right on the marina with views of one of the icons of dubai marina (marina mall) and the yacht club!

^^ thats sound all very nice - but are we willing to wait until late 2011 ? :ohno:

Excavation is now complete for the prime area of the Gent's Toilet in West Tower. :banana:


:lol:

today, pilling!!

http://img150.imageshack.us/img150/2143/dscf0002kq9.jpg (http://imageshack.us)

very busy on the left side.... of this picture...

Will be bloody nice to see this start to rise. Exciting project.

Not busy at all where the hell do you get this idea from ?? Nowhere near enough equipment to get the piling done in a reasonable time. There's only one bloody piling machine. Was far more equipment and labour than this at the Torch site and the plot was a lot smaller. :ohno:

(:omg: .........I'm sounding more and more like TB with every post. :lol: )

Hi just wanted to introduce myself. I've just joined this forum today and thought I'd say "hi". I was looking at investing in a 1-bed in the Marina and decided on Bay Central West Tower (sea facing). I know i'm practically the last one to buy in that block and got comparatively ripped off price-wise but better late than never and I also think it's a great location.

On a side note, does anyone have tips regarding HiFX vs Moneycorp? Sorry if this has been discussed at length before - feel free to point me to the relevant thread. Thanks!

Hi Dubman,

Welcome to the forum,

Re currency I use HIFX and find them good to deal with. Just shop around and go with th ebest rate depending on weather your looking for a spot or forward contract. Just stay away from high stret banks.

Did you buy directly from Select Properties or a private resale as i was told this development was sold out ?

Good Luck.

Hi just wanted to introduce myself. I've just joined this forum today and thought I'd say "hi". I was looking at investing in a 1-bed in the Marina and decided on Bay Central West Tower (sea facing). I know i'm practically the last one to buy in that block and got comparatively ripped off price-wise but better late than never and I also think it's a great location.

On a side note, does anyone have tips regarding HiFX vs Moneycorp? Sorry if this has been discussed at length before - feel free to point me to the relevant thread. Thanks!

Congratulations, what did you pay if you don,t mind me asking?

Currency change, I use both HIFX and Moneycorp, open an account with both and go with the best quote. Good luck.

Wellcome too the forum...

what did you pay for the apartment?

the rate as fallen too arround 7.1 so not getting much for the pound as a few months back

Thanks for the tips High Times & dubaifirst. I paid way too much for the apt, it's especially hurting as the exchange rate is diving at the moment too. Spoke to HiFX & Moneycorp today and they were painting a very gloomy picture for the US & UK economies. Surprise, surprise, their advice was to buy as much as you could now or lock in as they reckon the rates are only going in one direction. Has anyone ever spoken to an FX trader that says anything other than "buy now"??

we are all eager to know what "way too much" means in numbers!

today, pilling!!

http://img150.imageshack.us/img150/2143/dscf0002kq9.jpg (http://imageshack.us)

Hello there...
i visited Bay Central site on 01.02.2008 first time (first time in Dubai) and it was sand strom...still i managed to take some pictures which i will post later....but that time there was no Big red crain....(sorry i dont know what it called)...

does anyone know why they bring only one equipment for pilling??....i am not from construction background....please explaint it...

many thanks

^^ You pressed by mistake this buton: http://www.skyscrapercity.com/images/buttons/report.gif which is to be pressed only if you want to inform the moderators and the administrators of the forum about a inapropriate or spam post.

^^ You pressed by mistake this buton: http://www.skyscrapercity.com/images/buttons/report.gif which is to be pressed only if you want to inform the moderators and the administrators of the forum about a inapropriate or spam post.

sorry...i didnt know....
thanks for that information

There was speculation at the end of last year that Arabian Gulf central banks would revalue their currencies' fixed pegs to the US Dollar. Consequently there was surprise when they announced that they would hang on to current fixed exchange rates until the single GCC currency comes into being in 2010. Many local commentators think it highly unlikely either ambition will be achieved according to plan. They expect pressure for a revaluation to recur if US interest rates and the Dollar continue to fall.

But so far nothing has happened and the official line is that it won't. Its fixed peg to the Dollar means that the Dirham's fortunes remain inextricably tied to those of the US currency. When Sterling goes down against the Dollar it goes down against the Dirham.

The Pound touched highs of Dh 7.26 at the beginning of last week and decided not to bother. It set off lower, giving away 15 fils by Thursday. A rebound from Dh 7.11 added 5 fils on Friday but it was barely managing to hold onto Dh 7.13 when London opened this morning.

Hello there...
i visited Bay Central site on 01.02.2008 first time (first time in Dubai) and it was sand strom...still i managed to take some pictures which i will post later....but that time there was no Big red crain....(sorry i dont know what it called)...

does anyone know why they bring only one equipment for pilling??....i am not from construction background....please explaint it...

many thanks

Hi, the red thing you see is a concrete pump. They use it to pour concrete into the holes for the piles.
I don't know why they are using only one piling rig at the moment. They've just started piling work so it's possible that the other machines haven't been delivered yet. :)

Thanks for the tips High Times & dubaifirst. I paid way too much for the apt, it's especially hurting as the exchange rate is diving at the moment too. Spoke to HiFX & Moneycorp today and they were painting a very gloomy picture for the US & UK economies. Surprise, surprise, their advice was to buy as much as you could now or lock in as they reckon the rates are only going in one direction. Has anyone ever spoken to an FX trader that says anything other than "buy now"??

welcome to forum dubman.one option is to forward buy your aed. so you only pay 10% deposit and the rest 90% on the day you need the currency. the rate quoted will be slightly less than spot rate PM me if you need any further clarification or help^^

hello Guys...

anyone got new pictures???..

please post it..


thanks

hello Guys...

anyone got new pictures???..

please post it..


thanks

i am going there next week will try and get some and post them:banana:

i am going there next week will try and get some and post them:banana:
^^
Thank god! The lack of progress is disturbing - I have even started to ask Dubai Addiction to give me a virtual picture to keep my interests going...

I will be over there in May...

we are all eager to know what "way too much" means in numbers!

He is not going to tell us.

^^
Thank god! The lack of progress is disturbing - I have even started to ask Dubai Addiction to give me a virtual picture to keep my interests going...

I will be over there in May...

i have arranged to meet a rep from DS who is going to take us to the site presumeably with hard hats. will get some pics from horses mouth.i am abck in may as well.:bash:

i have arranged to meet a rep from DS who is going to take us to the site presumeably with hard hats. will get some pics from horses mouth.i am abck in may as well.:bash:

Please ask them why the amount of equipment and manpower for one of the largest plots in the Marina is woefully inadequate. Any fool can see it's just a token effort by SP. :bash:

Please ask them why the amount of equipment and manpower for one of the largest plots in the Marina is woefully inadequate. Any fool can see it's just a token effort by SP. :bash:

wk do but chances are i will not a straight answer.:ohno:

View from My apartment Central tower, looking down the marina

www.aucc37.dsl.pipex.com/pictures/view.jpg

http://www.aucc37.dsl.pipex.com/pictures/view.jpg

Is your apartment still up for sale?

yes..

Please send me PM with details and price.Thank you.

^^

You see how easy it is to be a real estate agent in Dubai.

One picture from Googlel Earth and the F**ker is sold.

The central Tower has the best views down the marina side from any side apartments..

west tower toward the super talls are very restricted with the central tower in the way..

i made a quick picture..

http://www.aucc37.dsl.pipex.com/pictures/central.jpg

Many thanks..........I had no idea that the best views would be from the Central Tower.

well yes, I knew that the best views where from the CT - but facing the sea ... :nuts:

well yes, I knew that the best views where from the CT - but facing the sea ... :nuts:
I.m counting on A sea/palm view to right of Al Fattan fron CT over samll JBR tower should be a nice 1 BR for someone

Wow nice picture,

Looks like the light show from a Jean Michele Jarre concert i went to in London Docklands.

Oh Jean Michele...the memories. Did you know he used to use an Atari St back in the days for his funky tunes and psychadelic light shows? Oh the days.

Oh Jean Michele...the memories. Did you know he used to use an Atari St back in the days for his funky tunes and psychadelic light shows? Oh the days.

Look Amiga's Rule! :banana:

you all jellous of my artistic diagram??

or are you just jellous you have west tower views and not central!

:banana:

you all jellous of my artistic diagram??

or are you just jellous you have west tower views and not central!

:banana:

I'm certainly not jealous of the price you paid for your Central Tower views. :lol:

I'm certainly not jealous of the price you paid for your Central Tower views. :lol:

I am jealous of other buildings that are rising :bash::bash:

Whats the one bed price please?

Whats the one bed price please?

I BD now in BC (Only a few left also now in all towers so i'm told ) is 1700 + per sq ft for low road views - gonna be worth wait though if you heva already bought -- will be equal to Al Fattan in terms of style . There will be few
re-sles coming out i think as some get fed up of waiting though

I BD now in BC (Only a few left also now in all towers so i'm told ) is 1700 + per sq ft for low road views - gonna be worth wait though if you heva already bought -- will be equal to Al Fattan in terms of style . There will be few
re-sles coming out i think as some get fed up of waiting though

I agree will be one the best developments in Marina area but will be real shame and disappointment for those who will have to get out as unable to finance the lengthy delays here. Given current rate of progress we're looking at piling finished Feb'09 and completion 5 years from now IMO.

^^ very true Morris :bash:

1700 sq/ft will buy you a completed apartment in the marina. eg. 2 bed in marina heights. You can then rent that for 10% net per year over 4 years (40% of purchase price) while you would still be waiting for BC to complete. In effect you would have paid 1020 sq/ft for marina heights compared to 1700 sq/ft for BC.

Make perfect sense Steve, do you know how SP would handle re-sales in BC. Do they only give original price, I paid 1,260 sq ft or, could I sell it back to them at 1,700 sq ft ??

^^ Not sure but if you can get 1700+ sq/ft and you can now get finance on a completed property then I would sell it. you could put that £55k profit + money already in for BC towards a deposit on something else. I am kind of curious how you could get 1700 sq/ft for BC but no where near that for TT even though TT completes much earlier.

^^1700 maybe in 1-2 years, but will be very interesting what the full marina view apartments will be worth in 3-4 years, if around 2500 then possibly best to keep.

Oh Jean Michele...the memories. Did you know he used to use an Atari St back in the days for his funky tunes and psychadelic light shows? Oh the days.

Im gonna go and see him on 25th March in Amsterdam. I cant F*ckin wait.

http://www.jeanmicheljarre.com/

Hey maybe if we had a whip round we could book him for the Torch launch party. The LED light display up top could be incorparated into his show.

If all Torch investors chip in a Dirham or two and the money is invested in cement and steel futures. By completion date we could easily afford his fee no doubt.

We could all stand on our balconies switching our lights on and off to the music.

Wether he will still be alive and able to stand playing a keyboard unaided and without the need for a callostamy bag by then is another matter.

He is 50 this year, and the Torch ................... well nuff said.


:dance:


Sorry back to Bay Central - I got a bit carried away there.......:nuts:

Hello Imre...or anyone
please post some new pictures of bay central site..
any updates??

thanks

we need the torch finished quicky.. once finished

then there will be a bigger force of builders to help with the point..

once thats is complete then hopefully bay central will have rapid progress with a gaint force of builders...:bash:

well thats what i think will happend :banana:

The builders of the Point may have to move onto Botanica (also DCE)

we need the torch finished quicky.. once finished


Here Here Beppe :banana:

we need the torch finished quicky.. once finished

then there will be a bigger force of builders to help with the point..

once thats is complete then hopefully bay central will have rapid progress with a gaint force of builders...:bash:

well thats what i think will happend :banana:


Beppe, I do hope you are kidding...... I am in The Point and hope we are not waiting for the Torch to be complete before we get its labour. At that rate we will not be complete for about 6 years. The Point is much smaller and should be the first thing SP complete but who knows looking at current progress.

If you are correct Investors in Botanica will be real p...ed

maybe

1st the point
2nd the torch
3rd bay central
4rd botanica

who knows....

The torch has the earliest compensation clause date, so that should be priority for them.

that would be

2010
2011
2012
2013



if so ...

i was reading on this other forum about dubai select compansation is worked out at 1% on the total amount paid every day.. dont know if thats 100% right

http://www.eyeonworldwide.com/offplan-property-the-torch-T316.aspx

Anyone else here have been contacted recently by Select? Seems they are making phone calls to reassure buyers that everything is on track.
The rep which called me told me she's just back from Dubai and has been impressed by the number of workers on site.... "a very busy site".
Having no background in construction, i wonder what to believe.

today

http://img214.imageshack.us/img214/8988/dscf0001tr9.jpg (http://imageshack.us)

http://img337.imageshack.us/img337/484/dscf0002ex3.jpg (http://imageshack.us)

al-fattan office

http://img337.imageshack.us/img337/3932/dscf0005rf2.jpg (http://imageshack.us)

^^Nice Pics Glover! :cheers:

I turned the 2 bc pics into a panorama:

http://i27.tinypic.com/ileq8y.jpg

nite shot when i was there last year.. not clear but get an ideal of view at night

http://www.aucc37.dsl.pipex.com/pictures/100.jpg

I love that panorama pic FWIW.......many thanks.:)

not much going on is there? i'd be a little worried.. if this is the pace during this time of the year, what's it going to be like going into the hot summer months followed by ramadan?

not much going on is there? i'd be a little worried.. if this is the pace during this time of the year, what's it going to be like going into the hot summer months followed by ramadan?

....but that presumes that an increased number of piling rigs and labourers will not be made available on this site; - why should that be the case? I'm sure the contractor would like to get on with the job and I'm sure he has a plan which will involve upping the pace once he can free up equipment and staff currently deployed elsewhere.

^^ going by DS's history with TT, I wouldn't bet on it

^^ going by DS's history with TT, I wouldn't bet on it

" Be assured, bay central is safe and protected, there are no Americans here, never"

"I blame Al jazeera TV, they are making bad publicity about bay central"

"We are in control of everything, they can,t even control themselves"

" We are very proud ,they tried to bring some diggers to the site today but we gave them a lesson , we destroyed everything"

:hilarious

LOL

i have received letter from DS in UK saying their portfolio is now worth £350 million someting...and they are launching new project in RAK...

Does anyone receive same letter????

do u think the credibility of the developer can judge on total portfolio of their projects.??

personaly i am still worrying about my investment..

DS are ok just slow in construction. You are protected by escrow on all of their Dubai / RAK developments.

RAK project: http://www.skyscrapercity.com/showthread.php?t=586207

do they have any completed projects??

what you will find is that once one project is completed, the resale value of other projects will double.its all about gaining confidence.

what you will find is that once one project is completed, the resale value of other projects will double.its all about gaining confidence.

i agree with dubaifirst.once people see building above ground level prices go up as more people want to buy.i tried to buy one on park island developement and was told they were all sold out and may be available on secondary market. still could not find one at a decent floor level:bash:

i have received letter from DS in UK saying their portfolio is now worth £350 million someting...and they are launching new project in RAK...

Does anyone receive same letter????

do u think the credibility of the developer can judge on total portfolio of their projects.??

personaly i am still worrying about my investment..

Why should you worry if you are protected by escrow? just think of what you paid for your unit and what is it worth now.To win in the property game you have to be in it for the long term.

" I triple guarantee you ,your unit will be worth triple the current value on completion"

today

http://img167.imageshack.us/img167/7721/dscf0004yy0.jpg (http://imageshack.us)

http://img168.imageshack.us/img168/5549/dscf0003gx8.jpg (http://imageshack.us)

http://img254.imageshack.us/img254/149/dscf0002ax6.jpg (http://imageshack.us)

^^ Glover - great pics again! Looks like there may be some action going on!

Here is the weekly pano! :lol:

http://i29.tinypic.com/eum3qd.jpg

Hello Glover, FWIW...
Thanks for the pictures....
dont really know wats going on there but i can see around 10-15 ppl working there....

Why should you worry if you are protected by escrow? just think of what you paid for your unit and what is it worth now.To win in the property game you have to be in it for the long term.

" I triple guarantee you ,your unit will be worth triple the current value on completion"

You could be right, but due to the poor progress here, the inevitable lengthy delays will cause some investors who have insufficient cashflow to be forced to sell before completion. So the value on hand-over will be nothing but a lost opportunity for them.:bash:

Amazing to think that the entire Dubai mall has been constructed while DS are still playing in the sand. Oh well at least it will look nice when its done.

You could be right, but due to the poor progress here, the inevitable lengthy delays will cause some investors who have insufficient cashflow to be forced to sell before completion. So the value on hand-over will be nothing but a lost opportunity for them.:bash:

Brace yourself, dear investors ... the key word here = "inevitable".

when do you think there will be another price increase? when the building starts too rise up?

What do you mean by price increase?

It's not like petrol where there is a stated price that can't be negotiated. Property prices are only ever worth what someone is prepared to pay for it on any given day.

All these bullshit news articles stating Dubai real estate increased by 15% last week is total crap. Value can only be judged in the secondary market which there isn't at the moment.

Developers in Dubai are doing an excellent job of making people think prices are going up and up and up just because they are increasing ther prices.

When the developers have gone you will need someone to buy your unit so you can realise your gain. Thats the point when you can judge a price increase not now.

i meant the nearer it gets too completion the apartment prices will go up for resale?

Potentially yes, and probably yes.

But i dont think it is wise to assume that with each floor finished you can add another 5% to the value of your unit.

Remember at the moment Dubai is just one big marketing machine to get money in and build a city in the desert.

Next time your in Dubai go to Mall of Emirates, (suposedly the best mall in Dubai), and have a wonder round. it will be pretty much empty (by western standards). Then go to Whitleys in bayswater in Kensington, London and you wont be able to fucking move on any given day at any given time.

when do you think there will be another price increase? when the building starts too rise up?

Hi Beppe, prices have already gone up, the current price for a resale is around 1700/sq ft and they are hard to find.

I don,t work for SP.

What do you mean by price increase?

It's not like petrol where there is a stated price that can't be negotiated. Property prices are only ever worth what someone is prepared to pay for it on any given day.

All these bullshit news articles stating Dubai real estate increased by 15% last week is total crap. Value can only be judged in the secondary market which there isn't at the moment.

Developers in Dubai are doing an excellent job of making people think prices are going up and up and up just because they are increasing ther prices.

When the developers have gone you will need someone to buy your unit so you can realise your gain. Thats the point when you can judge a price increase not now.

High Times

I really agree with you on most of what you say - but I would say that there is an established resale market for some developments - mainly the ones being completed a long time ago - eg the Springs and similar. As for Bay Central I will compare it with buying rubberband per inch !

Hi Beppe, prices have already gone up, the current price for a resale is around 1700/sq ft and they are hard to find.

I don,t work for SP.

that works out about 1.2m for a 700sq ft apartment???

and suppose full mairna view would also be premium?

and floor height?

below are all the studios and 1-beds listed for sale on Better Homes site.

Studio 462 sq. ft. AED 663,000

Studio 462 sq. ft. AED 752,150

1 Bedroom 696 sq. ft. AED 1,153,606

1 Bedroom 639 sq. ft. AED 1,224,000

1 Bedroom 677 sq. ft. AED 1,655,973

1 Bedroom 828 sq. ft. AED 1,980,811

1 Bedroom 751 sq. ft. AED 1,984,511

1 Bedroom 751 sq. ft. AED 1,992,099

1 Bedroom 751 sq. ft. AED 2,002,729

Thanks golver, you proved me right. You see Beppe, there are several folks here accuse me of taking the mickey. I am holding on to my unit till completion, where is yours by the way?

i have one in bay central, central tower good floor and marina facing.. im thinking of selling if i get the right price..

As i was saying an advert from a real estate company has no correlation as to what a property is worth.

The only way you know what a property is worth is when you get the cash in the bank once the sale has completed.

I've seen units advertised on Betterhomes, gowealthy and the like for many months, sometimes years. Most of the time it is speculators testing the water at no cost. Maybe you might get lucky and find a mug to bite, god knows there out there.

If this is how you value your investment great.

I'm gonna stick my old trainers on e-bay for £1,000,000.

WOW now im a millionaire. :ohno:

^^Thanks for your pessimistic posts, I travel to Dubai several times per year and can tell you the Malls have been packed. So what if its not as busy as a High Street in London, stupid to compare, they will get there. Prices for finished apartments in the marina with good views have seen a very strong growth on original purchase price. Now with the marina getting sold out in regards to Off plan it will open up a totally new resale market which will be a new phenomena in the Marina. Instead of waiting until for a new off plan developement to emerge people will be forced to buy resale thus bring up the prices already of developements like BC. Sure some people take the piss with what they think they can get but soon enough they will sell their property.

^^^^ i agree

Hi Grubbman, a flat in the marina is now worth its weight in gold. I sold one last week for 350.000 Dirhams more than what I asked for. I had a total of 69 phone calls and 49 e-mails from one advert in the Gulf News. The resale market in Dubai is very strong and its getting stronger. Buy while stocks last!

^^Thanks for your pessimistic posts, I travel to Dubai several times per year and can tell you the Malls have been packed. So what if its not as busy as a High Street in London, stupid to compare, they will get there. Prices for finished apartments in the marina with good views have seen a very strong growth on original purchase price. Now with the marina getting sold out in regards to Off plan it will open up a totally new resale market which will be a new phenomena in the Marina. Instead of waiting until for a new off plan developement to emerge people will be forced to buy resale thus bring up the prices already of developements like BC. Sure some people take the piss with what they think they can get but soon enough they will sell their property.

Grubman, I am a realist, not a pessimist.

I think investments in the Marina offer an excellent oportunity for growth/income over the longer term.

Im just saying that quoting rediculous growth rates every month because of offer prices in the local rag is just silly.

There is NO factual information on resales in Dubai because it is such an immature market.

" my mate dave down the pub sold for a 50% premium in 6 months" is not factual information im afraid.

Thats all I'm saying.

Grubman, I am a realist, not a pessimist.

I think investments in the Marina offer an excellent oportunity for growth/income over the longer term.

Im just saying that quoting rediculous growth rates every month because of offer prices in the local rag is just silly.

There is NO factual information on resales in Dubai because it is such an immature market.

" my mate dave down the pub sold for a 50% premium in 6 months" is not factual information im afraid.

Thats all I'm saying.

This is why I think the RERA lists will actually help when they finally come out. Until then it is all just speculation; however I do feel that the adverts should not be totally dismissed as they do provide a snapshot of what is out there.

today. some static stress tests!

http://img213.imageshack.us/img213/6489/img0007co4.jpg (http://imageshack.us)


http://img409.imageshack.us/img409/9638/img0009rx8.jpg (http://imageshack.us)

http://img179.imageshack.us/img179/9167/img0014aa2.jpg (http://imageshack.us)

http://img219.imageshack.us/img219/3227/img0026yb8.jpg (http://imageshack.us)

al-fattan office

http://img257.imageshack.us/img257/9210/img0012ri2.jpg (http://imageshack.us)

on the bay Central Site... will they have too dig even more down??