#GROUND WORK: EDEN BLUE TOWER, 28F Res

[Krazy]

Project: Eden Blue Tower
Type: Residential
Floor Count: 28
Status: Approved
Construction Start: 2007
Construction End: ?

Render:

http://i18.tinypic.com/2mqjhx1.jpg


Location:

http://www.edenbluetower.com/images/locationmap.jpg

[Krazy]

Pictures of site from March by Imre of what could be the Eden Blue plot


08/March/2007

Eden Blue , plot next to DEC Towers

http://img244.imageshack.us/img244/6546/photo28fq8.jpg (http://imageshack.us)

http://img98.imageshack.us/img98/482/photo29wn3.th.jpg (http://img98.imageshack.us/my.php?image=photo29wn3.jpg)http://img401.imageshack.us/img401/6556/photo31xc2.th.jpg (http://img401.imageshack.us/my.php?image=photo31xc2.jpg)

[mazdubai]

That is indeed the plot (albeit surely far too big for one tower given the propensity to cram in as many as poss)

I was there today and the interesting thing is that there is far less activity there now then there aparently was in March. Nothing is happening and no board has gone up. I suspect that the activity is overspill from DEC taking advantage of the space.

If anyone has any info on Eden, pls do post.

BTW does anyone else think that Beach Residence is an eyesore?

[Imre]

I saw today the site , still nothing there...

[merv]

does anyone know anything about the builder/developer in the Eden Blue Project? We looked at the site last week when in Dubai and there is no sign of any building starting and have been unable to get any links on the Dujon Developers or on Eden Blue other than the edenblue tower website.

[merv]

Just wondering how did you find out about the Eden Blue Tower?

[Imre]

^^
I found just this..

http://www.edenbluetower.com/

[Krazy]

http://i16.tinypic.com/4ykqbl0.jpg

[scoot68]

Would be so much nicer without the side 'bulge'. Straighter but nicer and cleaner IMO. It's like it's trying... but not enough...

[Morrismarina]

Actually I think it would look fairly shit without the bulge, nice feature & it breaks up the straight lines, looks good IMO.

[scoot68]

Exactly. Shit building with a bulge.:D

[Morrismarina]

Exactly. Shit building with a bulge.:D

:lol:

[Imre]

18/June/2007

Eden Blue

http://img516.imageshack.us/img516/520/imresolt21rk0.jpg (http://imageshack.us)

http://img20.imageshack.us/img20/1764/imresolt22vr0.jpg (http://imageshack.us)

[DubaiPads.com]

http://i16.tinypic.com/4ykqbl0.jpg

Its pregnant! :runaway:

[merv]

ive heard that eden blue will start around the 24 of this month

[merv]

has anyone heard anything different?

[mazdubai]

Depends what you mean by 'start'.

I've been told that the boards will go up by the end of the month.

[avion1]

I also have been told by the developer that boards are going end of the month and they are starting fencing soon.

[merv]

it least thats the 1st positive sign. did the developer mention the power factory behind the tower if it is staying or going?

[merv]

thanks for this. merv.

[mazdubai]

They said almost definitely staying for the foreseeable future.

[Tate]

That's one forgettable building! :ohno:

I'm right behind you DubaiPads.com! :runaway:

http://i16.tinypic.com/4ykqbl0.jpg

[farhan121]

whose the developer for this,am being offerd a studio for 475 000 dhs ,,485sq ft...is this actulay in the marina or just off marina ,,,ay coments folks

[merv]

Hi this is just off the marina. It is between the D E C towers and The KG tower. There is a road and some low rise buildins between eden blue towers and the marina.Depending on the floor you have been offered you may have a view of the marina. That is about the average for a studio in the tower.
The developer id Dujon. Apparently a German dude. Not well known in Dubai. Better know in Abu Dhabi.

:banana:
merv

[farhan121]

thanks merv
are the developers reputable?i mean amlooking into investing in a studioon the 25 floor which is a resale,,i herd a saudi compnay brought all this building and marketed it,,and any one know about construction updates
cheers

[avion1]

I think that is good price for a studio in Marina at 25 floor. Who is selling it, I may be interested in one.

[merv]

^^ i hope the dealers are reputable as we have invested with them. like all investments there are risks. I say "if you are not living on the edge you are taking up too much space"!
they are bigger in abu dhabi(the builder that is) Dujon are the builders

[Imre]

07/07/2007

Eden Blue plot ,soil test

http://img507.imageshack.us/img507/3756/imresolt20lx3.jpg (http://imageshack.us)

http://img528.imageshack.us/img528/9879/imresolt21tx8.jpg (http://imageshack.us)

http://img372.imageshack.us/img372/589/imresolt22ul2.jpg (http://imageshack.us)

http://img528.imageshack.us/img528/2170/imresolt23sk5.jpg (http://imageshack.us)

[Imre]

24/July/2007

Eden Blue Tower

http://img249.imageshack.us/img249/8974/imresolt03qh0.jpg (http://imageshack.us)

[Imre]

still nothing here

[bizzybonita]

this tower simillar like dolce vita tower copy past arch desi:omg: gn

[Imre]

24/Aug/2007

DEC Towers and the Eden Blue plot (still empty)

http://img521.imageshack.us/img521/7143/imresolt227mz6.jpg (http://imageshack.us)

[dubai banks]

Hi, Please can anyone let us know if they have heard anything about the Eden Blue Tower near the Marina. We have bought an apartment in this tower and are waiting for our contracts to be issued by Emaar but are interested to see if anyone has also purchased an apartment in this tower and if they have heard any news?

thanks
:)

[DubaiMarina]

Where is it?

[True Blue]

Successfully moved :)

[bizzybonita]

i think it will be soon at hold project coz nothing at the site since lunch time

[mazdubai]

Heard the same as you. Problems with paperwork etc etc. Contracts delayed until this is resolved, but God knows when construction will start!!!

[Imre]

still nothing

15/Oct/2007



http://img514.imageshack.us/img514/2010/imresolt70bg3.jpg (http://imageshack.us)

[merv]

Hi All. Anyone heard about the start date for Eden Blue. They are all sold out, the soil tests were carried out a couple of months ago. I have heard that the builder is awaiting the go ahead from Emaar? Can anyone confirm this for me?

Many thanks.

Merv :bash:
Northern ireland (U.K.)

[i love dubai]

I contacted the office regarding their delay and I was told that they have a meeting with Emaar on the 15th of this month and that they should start building after resolving the escrow account issue.

[Imre]

this plot is still empty...

[merv]

^^:nuts:
Elitestyleuae are the sales reps for eden blue and i have been emailed today that contracts will be posted to clients within the next 45 days. I certainly hope so. The escrow problem has been resolved and construction should start soon.

well i dont know but we will wait and see.
D E C has progressed well I see. Thanks imre for all your phots. Great shots with a great camera. Keep up the fantastic work. The airshow was brilliant. Hows little teddy bear these days. Havnt seen him for a while.

merv.

[i love dubai]

I contacted the office this morning and I was told that they got the o.k. from emaar and they will start fencing which will take around 20 days but dec towers have to remove some construction material from the eden blue lot. Contracts will be issued in the beginning of december.

[merv]

thanks for that. :)

[mazdubai]

'I love Dubai'

Which office gave you this info?

Was it the developers or the sales reps?

Cheers

[i love dubai]

It is the dedn blue office on szr I dont have their number right now but I will post it tomorrow, I passed by the site today and it looks like all the debris from dec towers in the eden blue lot is being gatherd in a fenced circle and look like it is waiting to be picked up, hopefully after that the fencing will start.
I have to tell you that when I talked to the office, and the person in charge told be that it was an escrow account issue and it was resolved, I asked him if there were any changes in the plans of the building he said no and when they met with emaar last week everything went smooth and they got emaars approval to start. we will see in the next couple weeks what will happen?

[merv]

^^^^The number for the estate agent on szr is +97143433501
fax number +91 43433504

hope this of some use to you all.


Merv:)

[mazdubai]

Has anyone heard anything else about what is happeneing at the moment

[Imre]

I will check the site tomorrow and post pics.

[merv]

^^^^Hi all, just received info that emaar has given the go ahead to put up hording and board today. The construction is to start december 2007.

at last there is some movement.

merv northern ireland UK:banana::banana::banana:

[Imre]

23/November/2007

Eden Blue

http://img104.imageshack.us/img104/6943/imresolt142pk9.jpg (http://imageshack.us)

http://img253.imageshack.us/img253/9595/imresolt143lz1.jpg (http://imageshack.us)

http://img261.imageshack.us/img261/8030/imresolt147sa9.jpg (http://imageshack.us)

[Imre]

site cleaning and fence works started there, as I see here:)

06/December/2007


http://img409.imageshack.us/img409/2252/imresolt210dk8.jpg (http://imageshack.us)

I will see the plot tomorrow again.

[Imre]

07/December/2007

Eden Blue plot

http://img252.imageshack.us/img252/3061/imresolt01wn5.jpg (http://imageshack.us)

http://img252.imageshack.us/img252/9079/imresolt02rs1.jpg (http://imageshack.us)

[i love dubai]

yes:banana: finally.
can't tell from the picture how big the lot for Eden Blue is going to be. I know there is a huge lot between kg and dec. how much of this huge lot will Eden blue occupy? does anyone know?

[Imre]

yes, apr 1/4 , as I saw the site yesterday ,between the Eden Blue and KG Towers have enough place for 3 towers if they make the same size than Eden Blue .(or 2 bigger towers)

[Josau]

I can't believe how close these plots are to the oil tanks. Isn't that dangerous to live so close to this? Imagine there is a fire??

[i love dubai]

It does look close to the picture but when you drive there you will see that there is a road then there will be another wider street that will connect to interchange 5.5 , not to mention the removal of the tanks later to make way for the arabic canal which will run through that spot.
Look at the picture in the link below you will see that the oil tanks are actually across from the KG tower.


http://www.skyscrapercity.com/showthread.php?t=425571&page=83 (http://www.skyscrapercity.com/showthread.php?t=425571&page=83)

[merv]

Hi,
It looks like we are eventually off to a start with the old eden blue tower. Well, just a wee note to wish every one who has ivested with eden blue all the very best and we hope that there will be no more unnecessary delays.



Merv

Northern Ireland U.K.:banana::banana::banana::nuts::nuts::):):)

[True Blue]

Oil Tanks?

I was told they were desalination tanks where water from the sea has the salt removed. Is that not true?

I know for sure that the building to the left directly behind Eden Blue is the district cooling block for JBR and the marina.

[Josau]

Oil Tanks?

I was told they were desalination tanks where water from the sea has the salt removed. Is that not true?

I know for sure that the building to the left directly behind Eden Blue is the district cooling block for JBR and the marina.

^^I hope you are right. In France, where I live, buildings so close to oil tanks would be considered "High Risk" and they are required to perform annually a drill for evacuation in case a disaster happens.

[mazdubai]

Surely if it is a power station, then they are more likely to be oil tanks rather than stored desalinated water.

Anyway if it was desalinated water, where is the desalination plant from where it came??? I wasn't aware there was one in that neighbourhood.

[i love dubai]

To produce electricity you need steam to move the turbines. Sea water is boiled to produce steam which move the turbines. Steam is captured from the plant and turned into distilled water.

[TowerBuilder]

I don't know whether they are desal tanks, but there is definately a desal plant there at the power station.

I don't think they are oil tanks otherwise they would have a concrete containment bund around them.

[merv]

Hi all ,
I had a quick look at the jebel ali power and desalination plant on its web site and it maybe the case that the huge tanks adjacent to eden blue towers are infact water storage tanks. have a look yourselves and compare the phots of the type of buildings shown at the desalinatiuon site. I think that these tanks are more likely to be water tanks rather than oil or fuel tanks. I dont believe that under health and safety regulations that planning would approve residential buildins so close to such fuel tanks.

I hope im right on this but will try to find out for fact what these are.

Merv:):banana:

[i love dubai]

I wonder why there is no discussion on those tanks in the DEC thread or the Kg thread.

[True Blue]

Don't want to bore too many people but this info from the net suggests that it is almost certainly water tanks. The steam generators are gas powered and not oil powered. Key points are highlighted so you don't need to read the whole article.




The Dubai Electricity & Water
Authority (DEWA) stipulated8 that it
required a 720MW combined cycle
power station and a 70 million gallon per
day (mgpd) desalination plant at Jebel Ali,
this being the ‘L’ plant in what is believed
to be the largest desalination complex in
the world. The United Arab Emirates
possesses 12.5 per cent of the world’s
desalination capacity. With further
investments planned, this figure is set to
rise. At present, 95 per cent of the water
which DEWA supplies is desalinated
seawater. They have a capacity of
148mgpd.

Annual demand currently
averages 105mgpd peaking in summer at
134mgpd and rising rapidly. Interestingly,
water consumers only pay around ten per
cent of the desalination costs.
The desalination plant at Jebel Ali L will
consist of five multi-stage flash (MSF) units
with a maximum capacity of 14mgpd of
drinking water each.
The project is divided into four packages,
for which 16 companies submitted bids.
The packages are as follows:
1. Gas and steam turbines, waste heat
recovery steam generators and other
various works contracts. This package,
valued at US$421 million, was
awarded to a joint venture of Toshiba
and Mitsubishi Heavy Industries.
2. Desalination plant. This package,
valued at $282 million, was awarded to
Fisa Italimpianti.
3. 400KV substation, control and
monitoring centre. This $56 contract
was awarded to Alstom T&D.
4. 400kV overhead lines. The $10
million contract for this package was
awarded to Emirates Trading Agency.
The contracts were awarded in June 2003.
Alstom’s 400kV turnkey gas-insulated
substation will be one of the largest HV
substations in the Gulf region. The
substation will include 19 bays of Alstom's
T155 gas-insulated switchgear, four
kilometres of 400kV gas-insulated
busducts and the company's Space 2000
protection and digital control system. This
package is due for completion in December
2004.

[i love dubai]

Thank you now we know :)

[ghphil]

Hello everybody,
I'm new to this wonderful forum and I was lurking this thread because I have some friends interested in a flat in Eden Blue Tower.

I don't know if those tanks contain oil or water (maybe this one), but I was told by the broker I was in contact with that the power station has to be moved away from that place before the end of construction for Eden Blue Tower.

Maybe other brokers told that also to you, and that's why many people who bought flats in that tower aren't worried about those tanks.

Anyway, the broker also told me that the developer delayed the beginning of construction for Eden Blue because Emaar, who was the proprietary of that plot, didn't really write down anything about power station moving, even if they told the developer the power station should be moved away.

If everything above is correct, if they decided to begin construction maybe the power station will really be moved away, so no matter at all for tanks.

Should anyone of you check these information calling your broker or directly the Eden Blue office?

Hope this helps,

GhPhil

[True Blue]

I think we have to be realistic here. With the construction boom producing a big demand for power, they could only move by building another station first then decomissioning this one. Therefore I don't see this happening before 10 years.

This installation cost a fortune to build and needs to be near the water front. They may move it to a location on the new Arabian canal but thats still to be built also.

[i love dubai]

This cant be true because the tanks are right behind KG tower and not Eden Blue and we all know that KG tower was constructed and finshed and there are people that live there with those tanks right behind them.

[Imre]

Anyway, the broker also told me that the developer delayed the beginning of construction for Eden Blue because Emaar, who was the proprietary of that plot, didn't really write down anything about power station moving, even if they told the developer the power station should be moved away.



KG Tower is already there, DEC Tower also close to the Eden Blue plot, I dont think so this is the problem.

Removing of the power station is not easy , as True Blue said definetely need a new one which is 5-10 years.Another problem , DUBAL is there , if they remove the power station what about the DUBAL ?

[ghphil]

KG Tower is already there, DEC Tower also close to the Eden Blue plot, I dont think so this is the problem.

Removing of the power station is not easy , as True Blue said definetely need a new one which is 5-10 years.Another problem , DUBAL is there , if they remove the power station what about the DUBAL ?

Thank you for the explanation. I posted that message because I need more information about the situation. So maybe the broker has wrong information. I'll check with him. I also sent an email to DEWA but I don't think they'll answer soon. If so, I'll post it here.

ghphil.

[merv]

^^^^
about your friend purchasing a flat in eden blue it will have to be a resale as all are sold out. the tanks are not putting anybody off.



merv:banana::banana:

[i love dubai]

Agree. I went to the Marina for the first time a last month and to my surprise things look different from pictures and I found the west side of the marina to be quiet and has a relaxing vacation like atmosphere. If you walk in the Eden blue area you can see the sea, the marina, and a beautiful view of the skyline of the east side of the marina.

[ParisDubai]

Hello!
I am new in this forum. Thanks everyone for all the news about the Eden Blue Tower.

I have bought a studio two weeks ago (resale) in this tower. I met the developer who confirmed me that the construction will start at the end of December 2007 and that the end of the construction is now forecast for May 2010. He told me also that is they have to pay fees to Emaar if they do not respect this new deadline. Hope this new deadline will be respected…

I have few questions concerning the Marina and the Eden Blue Tower, maybe someone can help me:
1. Do you know if a bridge will be built at the west side of the Marina (approximately between KG tower and Hilton Hotel)?
2. Do you have any news/photos about the beginning of the construction? Or news delays?
3. Is there some projects near the Eden Blue tower like shops, restaurants, kind of Marina walks…?
Many thanks!

[True Blue]

Welcome to the forum.

1. There is a new bridge going between KG and the Sheraton hotel. Piling and prep has started. Should take no more that 1 year.

2. ?

3. There are shops etc along the front of the marina Panoramic, Lootah etc all the way round to Infinity. Not many are open yet but when Eden Blue is finished most will be.

May 2010 is a realistic date, good to hear developers giving out realistic forecasts.

[Imre]

2. :)

20/December/2007

Eden Blue

http://img408.imageshack.us/img408/8144/imresolt277bf4.jpg (http://imageshack.us)

[ParisDubai]

Hello,
Any news of the beggining of the construction as the developper said they will start at the end of December?
Thanks

[Imre]

02/January/2007

Eden Blue, fence is ready and the board is there

http://img99.imageshack.us/img99/450/imresolt01zv8.jpg (http://imageshack.us)

http://img151.imageshack.us/img151/6996/imresolt02pa0.jpg (http://imageshack.us)

http://img168.imageshack.us/img168/9256/imresolt03el9.jpg (http://imageshack.us)

http://img70.imageshack.us/img70/7326/imresolt04eh8.jpg (http://imageshack.us)

[ParisDubai]

Hi, all program say that Marina is close to the beach which is not wrong. But is there a public beach in front of the Marina and where is the access? thanks!
And any news from Eden Blue?

[Imre]

at the moment the whole area is open beach front of the JBR, you can find open beaches next to the Habtoor, Oasis , Sheraton Hotels as well.
But we dont know the future..

[ParisDubai]

Hi Imre!
Do you have news pics from the construction if any changes?
Many thanks

[Imre]

I saw yesterday, still nothing , just a fence...

[ParisDubai]

Thanks Imre!

[i love dubai]

I was wondering if any one received a contract yet?

[ParisDubai]

Hi, here is the message i just received from the developper:
"According to new property law in Dubai all developers have to register with Dubai Land Department and open a trust account (Escrow account). This law is passed by Dubai Govt to insure safety to investors and to complete the projects in time.
The project is registered with land department next step is to lodge an Escrow account which is in process.
The sales and purchase agreements will be issued accordingly once we set up an Escrow account.
We will inform all our clients accordingly once we issue the sales contracts. The next payment date will be provided in the contracts which you have to follow from thereon.
We will assure you our best services and your patience is highly appreciated.
Thanks"

[mazdubai]

'Developers'

Do you mean 'Dujon'? They are the developers according to the board that has gone up.

If you mean 'elitestyle', who are they and what is their role? I was under the impression that they are just an estate agent.

I am dealing with Investments House, the investment managers. Is anyone else buying through them?

Cheers.

[ParisDubai]

Hi
I mean Investments House LLC and not the developer, i bought through them as well
Dujon properties Ltd is not in the RERA licenced developers list but Investments House LLC is in. Hope everything will be fine asap...
cheers

[i love dubai]

Number 211 on the rera list is Dujan properties limited, but spelled with an a not an o.

[ParisDubai]

Is it the same?

[i love dubai]

I think so, there are many misspells on the list.

[ParisDubai]

Hi any idea how long it takes to built such a tower in Dubai? Just to know if a completion date in may 2010 is realistic?
Thanks!

[TheDubaiDream]

Hi all,

I only recently discovered this site and would be nice to hear from people who have purchased apartments in the Eden Blue - (DUJON) developer.

Firstly does anyone have any confirmed completion dates for Eden Blue? Some agents are telling me end of 2008!!

I also hear the master developer is Emaar?

[ParisDubai]

According to the investment managers (investment house) the completion date is now May 2010. But contruction has to start soon to respect this date...

[dubai banks]

We have purchased a studio on the 21st floor and went to Dubai twice last year. We went to Investments House whilst we was there in October and they have taken over the build from Dujon. They are building other towers in Dubai. We have received correspondence saying they have had approval but are simply waiting for the escrow account to be finalised and that they will in fact send our sales and purchase agreements shortly. We have been told by them that it is ok to suspend installments until we receive the documents and that we will receive a new payment plan in line with the new expected completion date - currently 2nd qtr 2010.

Will let you all know once we receive the documents.

They told us whilst we were there that it will take approximately 2 years to build from start to finish.

We are keeping ours for holidays especially since if has already increased in value by Circ £20k since we purchased it resale 7 months ago.

The agent we bought ours from has also got an apartment for his family on a higher floor.

[i love dubai]

Thanks for the info.
May I ask you when did you make your last payment?

[mazdubai]

Most of the above info sounds about right. Contracts should be coming through soon.

'since if has already increased in value by Circ £20k since we purchased it resale 7 months ago'

Very optimistic if you ask me. More like £8k. Approx 950-1000 per sqft. Unless you bought it for 300000aed of course. :eek2:

[ParisDubai]

A agree that for one bedroom the current price is now about 950-1000 per sqft but for studio the price seems to be now around 1200 per sqft? Maybe it is because the profitabilty of a studio is better than the one of a one bedroom. I don't know if you agree with me?
Anyway i saw in the gulfnews a analysis saying that the price of real estate in Dubai in 2008 will increase by 20%??? Seems to be very optimistic... Hope it will happen...

[Imre]

still nothing, when they want to start the construction?

[dubai banks]

Thanks for reply Mazdubai, We were going off what we have paid for our studio and what we have seen the same size studios reselling for on the internet? Still don't mind how much they increase by to be honest as long as they do eventually - we are hoping to keep ours for quite a while and have a few winter holidays there once it is built. Weather is terrible in the U.K.

[ParisDubai]

Imre, according to the investment manager, the foundation, shoring piling is likely to start
by 3-4 weeks.
They also said that they have started issuing the sales contracts and we will receive them soon!

[bizzybonita]

news: big board at the site :) + still nothing at the site & still they didn't finish prep tha site yet .

[mazdubai]

Hi,

Any news on contracts?

Could anyone who finally gets their contract, post to let us all know?

I'll also post once I have mine.

[i love dubai]

I contacted investment house and I was told that they are issuning the contracts.

[italyindubai]

Now seriously. I am an international real estate agent and I never would have offered a building in that area unless I'm blind. The future of Dubai and of your investment is first the location, second the developer (not the master developer), third the architecture together with the finishings. You bought it for cheap and might make some money but surely the location is poor. For the rest hope all will go well, but I suggest to enquiry deeply into this project. It doesn't make much sense for me to sell at this price if not to run off. I don't want to mount fears but awarness.

[i love dubai]

Thanks for the advise. Obviously you are not aware that Investment house, the developer of Eden Blue, is on RERA'S approved list, so the money of the investors are in a secure escrow account.
Investment house is the developer of the following projects
1. My tower
2. Eden blue
3. Dolca vita
4.Marina exclusive
5.Jouri
6. Cadi residence
7.Ajman medows
8.sahara medows
9.Fountain residence

http://www.investments-house.com/ourproject.htm

I also like to inform you that Eden blue was launched at 800 Aed/sq ft which at that time was the market value in that area. Until last month the prices were 1000 AED per sq ft, and now when the developer started issuing contracts prices have gone up to 1150 AED per sq ft,
I have been there in that area on the ground, it is a beautiful area, and the apartments on the north and east side 7th floor and higher will have on of the best views, you can see the entire marina without any thing blocking it.
Check out the prices of Eden blue today and keep in mind those are mostly units on the first floor with no view.

http://www.elitestyledubai.com/esresult.asp?ptype=&price=&bed=&loc=&proj=Eden%20Blue&sort=ano&page=1

[mazdubai]

italyindubai,

Where would you have us buy for around 800AED per sqft?

International City perhaps?

I think everyone here acknowledges this is the 'arse end' of the Marina to borrow a phrase. However, it's still a lot better than investing in many other areas of comparable cost, but lacking the kudos.

Thanks for the advice though.

[italyindubai]

I'm not saying it's an awful investment but I doubt it's going to be a good one. I only sell in top areas and not interested in low budget areas like international city or Dubailand, besides a few iconic project. Regarding the "investment house" company after seeing their website you made me even more worried. There is practically no information with whom you are really dealing. From what I know My tower and Dolcevita haven't started work yet. These 2 towers are also promoted (are in the project themselves) from an italian company using deceiving information. All what I'm saying is documented from clients who phoned me to ask advice.
So just keep your ears and eyes open.

[cugeneva]

^^ It all depends on the reason why one bought in this development.

Yes, agreed, it is not a prime location but still part of the Marina. Therefore, it will apprecaite capital gain like any other project in the Marina. Buying at 800 AED/sqf in 2007 in the Marina is a very good deal if you intend to use the property yourself.

Now, it's the question of date of completion. If they will be able to deliver by Q2/Q3 2010 that would be an achievement when looking at other projects in the Marina that were sold years before.

So far, almost all developments are runing one year late....

[Zaid_stone]

how much the studio here?

[mazdubai]

You might still be able to pick one up for 950 per sqft on the lower floors and 1000 per sqft on the higher ones. The studios are quite small so about 415000 to 450000AED depending on exact size and floor.

[ParisDubai]

Hi, i received the contract with many mistakes: the area and the price are different than the ones of my apartment reservation agreement! Anyway i will check with Investment house before signing this contract.
One question: in the art 8.5 of the contract it is written: "The purchaser agrees and undertakes to use the Property for single family private residential purposes only and shall comply with the provisions of all laws, decrees, and regulations now or from time in force relation to his Unit or anything done the Unit."
Is there a problem if i want to lease out the appartement? or short term rental?
One more point: my understanding is that the price in not definitive and that it could be increased by 7% max ...

[i love dubai]

Hi, i received the contract with many mistakes: the area and the price are different than the ones of my apartment reservation agreement! Anyway i will check with Investment house before signing this contract.
One question: in the art 8.5 of the contract it is written: "The purchaser agrees and undertakes to use the Property for single family private residential purposes only and shall comply with the provisions of all laws, decrees, and regulations now or from time in force relation to his Unit or anything done the Unit."
Is there a problem if i want to lease out the appartement? or short term rental?
One more point: my understanding is that the price in not definitive and that it could be increased by 7% max ...
Is the area in the contract bigger or smaller? what about the price?
Of course you can lease it out, all contracts say that. they dont want to see an office there, or for example many single guys sharing the space.

[ParisDubai]

Thanks!
Price is higher and area is bigger...

[bizzybonita]

^^
yea that's it .

[mazdubai]

Parisdubai,

Don't suppose they mentioned anything about construction starting?

[ParisDubai]

There is no date of construction starting but the date of end of construction is forecast for 2d quarter 2010. And they have to pay an interest of 2% to the buyer if the construction is not completed in Dec 2010.

[italyindubai]

"the area and the price are different than the ones of my apartment reservation agreement","my understanding is that the price in not definitive and that it could be increased by 7% max"
Be more precise about these points! You mean they can raise the agreed price up to 7% ????

[dubai banks]

We have bought a studio on the 21st floor unit 2104, 430 sqft. We still haven't received our contracts although we bought it resale from an agent in the UK. Surely they can't get away with changing a. the size and b. the agreed price and then try to increase the price by upto 7% in the future???? Can they?

Lynn and Paul Calderbank, UK

[ParisDubai]

Hereafter the art concerning the 7% variations, but sorry it concerns the size and not the price (my english is not perfect...):
"11. Variations
11.1 If any of the materials or fixtures required by the Seller to construct or fit out the property are not available within a reasonable cost, the Seller may substitute such materials of an equivalent or superior standard that may be obtainnable at such time.

11.2 The Seller may from time to time make such variations to the Eden Blue Towers Plan and the Specifiacations asmay in the circumstances be necessary for aesthetic or technical reasons provided that such variations shall not vary the current specifications by more than 7%. Thus, whislt the Master Plan and Eden Blue Towers Plan have been prepared and are as accurate as possible, the Purchaser acknowledges and accepts that they are not yet final and adjustments to the final measurements and Participation Quotas may need to be made. The Purchaser will have no claim against the Seller for any deficiency in size of the Unit, nor will the Seller benefit from any excess."

[i love dubai]

We have bought a studio on the 21st floor unit 2104, 430 sqft. We still haven't received our contracts although we bought it resale from an agent in the UK. Surely they can't get away with changing a. the size and b. the agreed price and then try to increase the price by upto 7% in the future???? Can they?

Lynn and Paul Calderbank, UK
Yes they can. This is the first time they issue contracts and what you had before were reservation forms. It could be a dirty trick, adding the service areas to the square footage of the apartment so they can get more money. But I always thought how can this building with a bulge in the middle has the same sq feet in all the floors? should'nt the middle floors where it is wider, have more sq feet?

[italyindubai]

It's quite normal that the sizes and shapes may vary a little, and a 7% or 10% in size are fairly exagerated. Normally serious developers tolerate a 3%. Should the size be smaller than 3% they will reimburse the amout. In the case the size should be larger I never heard a developer go to a client to ask for more money.This make me wonder if some project have been designed from school children! Anyway hope work will start soon.

[mazdubai]

I have been wondering about this issue for a while. The longer they delay starting, surely the cost of materials, steel etc, will continue to rise.

Either this will result in less profit for the developer or more money from us and we all know which is more likely.

[i love dubai]

I just talked to Investment house, my 1 bedroom apt jumped in size by 123 sq ft and in price by 102,000 AED, I don't think there is anything that I can do.:ohno:
I was also told that the foundation contract has been awarded to SHARAF and work will start in 2 weeks.

[mazdubai]

You have got to be joking. 102000 ouch. When you said increase in price, I assumed you were talking about 20000 or so.

Is there any possibility of some kind of mix up? eg. The studios range in size from approx 420 - 455 sqft. They could conceivable mix them up. Do the 1 beds also have a variety of sizes?

How can they suddenly find an extra 123 sqft in the building unless the plans have been completely redrawn?

[Morrismarina]

I just talked to Investment house, my 1 bedroom apt jumped in size by 123 sq ft and in price by 102,000 AED, I dont't think there is anything that I can do.:ohno:


:wtf: absolute bunch of Wxxkers...........why can't they just sell their units properly like eveybody else. It's just a scam to get more money out of you. :bash:

I nearly bought a studio here a while back......... Thank God I bought elsewhere. Makes me wonder what other tricks this lot are going to try and pull in the future ?? :ohno:

[ParisDubai]

The price of the reservation agreement is 334.480 AED and the price of the SPA is 393.076 AED
The size of the studio is 452 SQF according to the reservation agreement and 531 SQF according to the SPA...

I have also just called Investment house and they confirmed me that the price of the reservation agreement was not the final one because measurments were not definitives. Now in the contract they are definitives.

In one side i am very unhappy about that and in another side i can bought 79 SQF for a price of 740 AED/SQF which is a very good deal!!!

But is it normal to have a different price between reservation agreement and SPA? Do they respect the law if any?

Thanks

[Morrismarina]

The price of the reservation agreement is 334480 AED and the price of the SPA is 393076 AED
The size of the studio is 452 SQF according to the reservation agreement and 531 SQF according to the SPA...

Is it normal to have a different price between reservation agreement and SPA? Do they respect the law if any?
No answer from Investment House for me... and so i will not send the first instalement...

Thanks

The answers are No & No.

If you've sent no money yet then I'd seriously look elsewhere, this type of lark would not given me any confidence at all in this developer going forward.

[ParisDubai]

I have already paid 86 KAED when booking so can't stop now..

But as both developer and manager are on the rera list, escrow account is now open and they have to pay penalties in case of late end of construction i think everything is all right now...

[Morrismarina]

I have already paid 86 KAED when booking so can't stop now..

But as both developer and manager are on the rera list, escrow account is now open and they have to pay penalties in case of late end of construction i think everything is all right now...

Well if your happy to pay the higher price then that's fine. If not, demand your money back as you've clearly been mislead.

[ParisDubai]

I pay a higher price with higher area (+79 SQF for a price of 740 AED/SQF). Don't you think it's a good deal?

[Morrismarina]

I pay a higher price with higher area (+79 SQF for a price of 740 AED/SQF). Don't you think it's a good deal?

I don't know it might be. 740 per sq ft seems a good deal.

All I'm saying is they cannot force you to pay a higher price than you orignally agreed with them. If they are now saying your apartment is bigger than before but the price has gone up, then if you're happy to have a bigger unit for a higher price then that's fine. If you can't, or don't want to go along with it now then you are entitled to ask for the payments back that you've made.

[mazdubai]

The only issue as far as I can tell is the inconvenience to those who have not budgeted for the extra amount. Personally I don't particularly want to put an extra 50,000 in.

However there is no question of being ripped off or even the price changing. Nothing has changed if the extra amount is going towards more squarefootage.

Had you purchased 531 sq ft from the start the price would have been 393,000AED, as all calculations are based on area.

I think both I love dubai and Parisdubai have a good deal to get the extra area for between 740-850 per sq ft.

I would also be complaining if Investments House tried to get the current price of 1000 per sq ft for the area they have added.

[ParisDubai]

Hi again. I have sent lot of e-mails to Investment House regarding the issues of price and area, and also because i have no schedule A in my contracts ("Specifications including the Unit floor plan, schedule of finishes and specifications") so i don't want to sign it before getting this schedule.
I just called Inv. House and they told me that they will answer my e-mail and that the schedule A will be ready in march, so they proposed me to wait until march to sign the contract...
Does anybody has already signed the contract?

[i love dubai]

Hi again. I have sent lot of e-mails to Investment House regarding the issues of price and area, and also because i have no schedule A in my contracts ("Specifications including the Unit floor plan, schedule of finishes and specifications") so i don't want to sign it before getting this schedule.
I just called Inv. House and they told me that they will answer my e-mail and that the schedule A will be ready in march, so they proposed me to wait until march to sign the contract...
Does anybody has already signed the contract?
I picked up the contract from investments house office, I was told that the floor plans and specifications won't be ready until August, But they showed me the new design which I think is nicer. The bulge is still there but the lines on the side are straight and they go all the way up to the last floor.
I complained about the price and area increase, they offered to buy the apartment back from me ( pay back what I paid plus a 15% permium).

[Imre]

I saw the site today, still nothing just a fence.

[ParisDubai]

I love Dubai, are you waiting to sign the contract and to pay the first instalment (do you wait for schedule A)? I am looking for advice regarding this issue,
Thanks

[i love dubai]

I love Dubai, are you waiting to sign the contract and to pay the first instalment (do you wait for schedule A)? I am looking for advice regarding this issue,
Thanks

I was thinking about it then I thought, if I dont sign the contract then there is nothing to gain actually I lose because at the end of the day I wont have a contract.

[mazdubai]

ParisDubai,

I should also receive my contract soon. I too plan on signing.

What might I ask do you hope to gain by not signing?

Is there really any benefit? If you are forced to sell because of the extra amount, would it make a difference at that point whether you have signed a contract or not?

[i love dubai]

ParisDubai,

I should also receive my contract soon. I too plan on signing.

What might I ask do you hope to gain by not signing?

Is there really any benefit? If you are forced to sell because of the extra amount, would it make a difference at that point whether you have signed a contract or not?

I agree, It is not a good thing not to have a contract signed by both parties.

[ParisDubai]

Thank you for your advices, i think i will also sign the contract... and pay the first instalment as soon as possible because the exhange rate is very good (€/AED)!

[mazdubai]

ParisDubai,

You mentioned the 'first installment'. Do you mean the next 8% after the initial 28% to get the contract? If so, are they insisting on a payment immediately after you receive the contract or within three months of that date?

As i'm sure you know, the Euro just hit a record high against the Dollar and will probably continue to strengthen for the forseeable future, so you should be alright on that front.

[ParisDubai]

Yes i mean the next 8% after the initial 28% to get the contract! But i have no news the immediat payment, i asked Inv. House but still no answer. I will keep you in touch.

[i love dubai]

Yes i mean the next 8% after the initial 28% to get the contract! But i have no news the immediat payment, i asked Inv. House but still no answer. I will keep you in touch.
Isn't there a new payment schedule attached to the contract?

[ParisDubai]

Yes i spoke about my new playment plan attached to the contract. Inv House said i have to pay the first installment as soon as i received the contact signed by both parties.
They also confirmed me that the construction (fondation) will start between the 8 and 10 of march.

[italyindubai]

The things I read in the last days suggest me to keep away from such a development. There are too many things which seem unclear. Forget the escrow accounts or whatever. At these prices you are likely to get trash finishing and unless you come from a third world country you will find them awful.

[CIPUS]

The things I read in the last days suggest me to keep away from such a development. There are too many things which seem unclear. Forget the escrow accounts or whatever. At these prices you are likely to get trash finishing and unless you come from a third world country you will find them awful.

Verissimo!

[mazdubai]

Blah Blah

Thank you once again for your wonderful insight italyindubai.

I'm glad our postings have persuaded you to 'keep away from such a development' Although I don't recall anyone forcing you into it.

I think most forum users are familiar with the term 'you get what you pay for'. Therefore I would suggest that most of the Eden Blue owners are not actually expecting Burj Arab standard finishing.

Yet again, italyindubai would have us buy in International City for the equivalent price.

I thought you were a property professional??? Ever heard of location location location? There is only one Marina. Even if this ends up as one of the crappier buildings it's still in the Marina.

[dubai banks]

Just so you all know I have emailed Iqtidar Hussain, of Investment House twice now to find out a. when we will receive our contracts and b. if our studio price/sqft has changed but have had no reply to our emails. We visited their office whilst in Dubai last October and suspended payments until we receive our contracts. We bought our apartment last May resale from an agent in the UK. We have paid the first 3 installments and was told we should receive our contracts in Feb?

I will try to contact them by phone tomorrow and get an answer. Will keep you posted.

Who knows, maybe Christmas 2010 we'll all get together round the pool and have a drink together!!

[italyindubai]

Blah Blah

Thank you once again for your wonderful insight italyindubai.

I'm glad our postings have persuaded you to 'keep away from such a development' Although I don't recall anyone forcing you into it.

I think most forum users are familiar with the term 'you get what you pay for'. Therefore I would suggest that most of the Eden Blue owners are not actually expecting Burj Arab standard finishing.

Yet again, italyindubai would have us buy in International City for the equivalent price.

I thought you were a property professional??? Ever heard of location location location? There is only one Marina. Even if this ends up as one of the crappier buildings it's still in the Marina.

I cannot agree on the fact that most users are familiar to get for what they pay for. And even less that the Marina is still the Marina.
Let's be honest about the fact that 90% of the developers only care to make money and don't give a damm wheter their building will be remembered for their quality in the years to come. Too many investors are buying based on the shining appearance of Dubai but the future is going to show the winners and the losers. In the short term (max 12-24 months) you might still be lucky, but in a medium term some projects will stand out (for the location, for the architecture, for the quality) and their prices will grow further and it will be easy to resell. Some others instead will be falling to pieces after 10 years and owners will be anxious to sell. I'm not saying it's the case of Eden Blue. I just recommend caution like in some 300 projects around Dubai.

[mazdubai]

Of course I agree with you about them being in it for the money, but then who isn't. If they are reputable and in this business for the long term, then they will do their best to do a good job to enhance their reputation for future projects.

Our problem at the moment is that we have no idea whether they are reputable. Do they have a track record of successful projects???

My only real concern is construction stalling. The length of time it is taking them to get started, not to mention the constant misinformation does not exactly inspire confidence.

'dubai banks' I wouldn't worry about the lack of contact. It sometimes takes them ages to respond. Anyway other posters have received their contracts so i'm sure it won't be long.

[i love dubai]

March 2nd
http://img143.imageshack.us/img143/6929/p3020046kd4.jpg (http://imageshack.us)

[ParisDubai]

Yes! One week from the beginning of the construction... Hope so...
I'll send my contract signed tomorrow. Does someone has a picture of the new design?
Rendez-vous for the barbecue party on the roof top for Christmas 2010!

[mazdubai]

Thanks to 'I Love Dubai' and 'Imre' for the pics.

'Dubai banks' - any news on your contract?

Making plans for the barbecue already. See you all 2010.

[ParisDubai]

3 days from the beginning of the construction!!! Look forward to see the pics of I Love Dubai or Imre with the workers on the plot...
I have sent the contrat signed to Inv House. Hope they will be not change price and size in the futur!

Is there a project next to Eden Blue (not DEC towers but on the other side) where the plot is free? I worry about my view on the 15 floor:)
thanks

[i love dubai]

3 days from the beginning of the construction!!! Look forward to see the pics of I Love Dubai or Imre with the workers on the plot...
I have sent the contrat signed to Inv House. Hope they will be not change price and size in the futur!

Is there a project next to Eden Blue (not DEC towers but on the other side) where the plot is free? I worry about my view on the 15 floor:)
thanks

Don't count on the exact day that was announced, it could take few more weeks before they start.
They can't change the price or sq ft anymore because now there is a contract.
the plot on the northwest side is still empty.
I will take pictures and post them as soon as I see any sign of construction.

[dubai banks]

Looking forward to the Barbeque!!!!::banana:

I spoke to Investments House on Tuesday and they told me they were posting our contracts yesterday so we can expect them early next week?
Our studio has also changed in size and is bigger by 34.4sqft, and is an extra 26,485 AED. :nuts: Still hey ho, what will be will be. Am happy about the extra sqft will just have to go with the extra AED, afterall it is at the lower rate ie approx 769aed/sqft. So I suppose it's ok. They told me the difference is due to the developer changing the design slightly. I too would like to see the new design if anyone has a piccy?

[mishmish]

Oh Dear :ohno:
I am new to the forum and glad I found it!
I am thinking of buying a 1 bed in Eden Blue, but with all the negative comments do you advise against it ?
It seems it is the only way I can afford a property in Dubai Marina. The apartment is on the 8th floor, apx 775 sqft build up priced at 740,000 AED all in. Even though it might not be in the best location it is still 'The Marina' which sways me to put 750k into prime location rather than something in Jumeirah Village.
Any advise ? (Im sure Mr Italy has some) ;)

[ParisDubai]

Welcome mishmish!
I think it is a good deal as the price will probably increase a little when the construction will start (that is very soon). As you said you can't find less in the marina.
When i bought my studio, i prefered to buy in the Marina than in an other place such as Jumeirah Village/Dubai Sport city, even if it is not the best place in the Marina. It's better to live near the sea, and better if you want to rent out your apartement or if you want use it for hollidays (next to the beach:))
This side of the Marina is still under construction but in 2/3 years it will be really better as there will be more towers, shops, restaurants...
Moreover, we have received the contract now and everything is all right as the developer and the manager are on the rera list, the Eden Blue Tower is registered in the Land Department, and the escrow account is open.
Hope to meet you for the barbeque party with the other owners in Dec 2010:)

[Wannaberich]

Oh Dear :ohno:
I am new to the forum and glad I found it!
I am thinking of buying a 1 bed in Eden Blue, but with all the negative comments do you advise against it ?
It seems it is the only way I can afford a property in Dubai Marina. The apartment is on the 8th floor, apx 775 sqft build up priced at 740,000 AED all in. Even though it might not be in the best location it is still 'The Marina' which sways me to put 750k into prime location rather than something in Jumeirah Village.
Any advise ? (Im sure Mr Italy has some) ;)

That seems to me to be a great price,any others for sale?

[mazdubai]

It may be better for your peace of mind to wait until things are up and running and some of the construction has taken place. However, as Parisdubai mentioned, you risk the price increasing when construction begins. If you think it's a good deal, then go for it. Every development carries some risk and you have to be willing to take that risk.

There are others available. I have seen a number of one beds advertised in Freehold 1 and 2 (Gulfnews supplement). The per sqft price is cheaper for the one beds than the studios.

[Wannaberich]

It may be better for your peace of mind to wait until things are up and running and some of the construction has taken place. However, as Parisdubai mentioned, you risk the price increasing when construction begins. If you think it's a good deal, then go for it. Every development carries some risk and you have to be willing to take that risk.

There are others available. I have seen a number of one beds advertised in Freehold 1 and 2 (Gulfnews supplement). The per sqft price is cheaper for the one beds than the studios.

Where can I see details of these projects?Are they off the ground yet?

[cugeneva]

You can search online in http://www.gnads4u.com/properties on properties for sale and SSC will provide you will the info about the stage of development :banana::banana::banana:

[mazdubai]

Sorry Wannaberich if I didn't make myself clear.

I meant there are other properties for sale within Eden Blue as per your original question. However, this is definitely the only 'cheap' place left in the Marina. Best place to look is the supplements from the Gulfnews on Thursday if you are in the UAE of course, but the website is also good.

[Morrismarina]

Just a few things to think about before you buy here:

1. Why is this project so cheap ?? Things are always cheap for a reason.
2. Is there enough contingency built into the developer's calculations to cover the massive increase in raw material costs we're seeing in Dubai and worldwide ??

I remember the Lighthouse was very cheap compared to other developments. I'm not saying this development will not be built, I've no idea about that........just my thoughts and the things I would be thinking of before parting with my money. It is incredibly cheap though and that would concern me......... unless I knew why.

[ParisDubai]

The Eden Blue Tower was fully sold one year ago with an approximative price of 750 AED/SQF. Now the price is around 1000 AED/SQF for a one bedroom and 1200 AED/SQF for a studio (i image that is because a studio has a better profitability if you want to rent it out). This price is certainly one of the cheapest of the marina but is closed to the neighbourhood towers of Eden Blue:
- You can buy in DEC Tower for 1200 AED/SQF (this tower will be available in the end of 2008)
- You can buy in KG Tower for 1100 AED/SQF (this tower is ready)
Conclusion: the price seems to be the normal price of this part of the Marina, and will probably increase as soon as it will be finished (maybe in 3 years).

Moreover, how can you explain that the price of Dubai Sport City or Jumeirah South Village are in average the same per SQF than the one of the Eden Blue Tower?
Raw material costs are the same for Marina or other part of Dubai! Maybe the marging will not be so high as the one of the other project in the Marina but it depends also of the price of the land: a developer who buy a plot now will not pay the same amount as last year or two years ago... so he has to increase the selling price...

To cheack the price of the market in Dubai:
http://www.alineah.com/market_analysis.asp

[Morrismarina]

The Eden Blue Tower was fully sold one year ago with an approximative price of 750 AED/SQF. Now the price is around 1000 AED/SQF for a one bedroom and 1200 AED/SQF for a studio (i image that is because a studio has a better profitability if you want to rent it out). This price is certainly one of the cheapest of the marina but is closed to the neighbourhood towers of Eden Blue:
- You can buy in DEC Tower for 1200 AED/SQF (this tower will be available in the end of 2008)
- You can buy in KG Tower for 1100 AED/SQF (this tower is ready)
Conclusion: the price seems to be the normal price of this part of the Marina, and will probably increase as soon as it will be finished (maybe in 3 years).

Moreover, how can you explain that the price of Dubai Sport City or Jumeirah South Village are in average the same per SQF than the one of the Eden Blue Tower?
Raw material costs are the same for Marina or other part of Dubai! Maybe the marging will not be so high as the one of the other project in the Marina but it depends also of the price of the land: a developer who buy a plot now will not pay the same amount as last year or two years ago... so he has to increase the selling price...

To cheack the price of the market in Dubai:
http://www.alineah.com/market_analysis.asp

Oh I see, sorry I thought they were still selling at AED 750 sq ft hence the comments I made. :hammer: Obviously that would not be crazy given the current Marina prices that was why I was somewhat concerned.

Anybody who bought a year ago has done very well indeed then. Nice tower IMO. :cheers:

[i love dubai]

Passed by the sit today, no signs of costruction yet.

[mazdubai]

Parisdubai,

No offence, but you are way off the mark with your prices. Are you in Dubai?

If as you say KG can be purchased at 1100, you would have to be mad to pay that amount for Eden Blue now which still shows no signs of starting.

Forget the inflated prices quoted by these websites that are looking for Europeans to buy. If you are the ground in Dubai and can scan the property papers, there seems to be a steady stream of studios at 1050AED. Which is still a decent return though.

Well made point about the costs though.

[dubai banks]

The Eden Blue Tower was fully sold one year ago with an approximative price of 750 AED/SQF. Now the price is around 1000 AED/SQF for a one bedroom and 1200 AED/SQF for a studio (i image that is because a studio has a better profitability if you want to rent it out). This price is certainly one of the cheapest of the marina but is closed to the neighbourhood towers of Eden Blue:
- You can buy in DEC Tower for 1200 AED/SQF (this tower will be available in the end of 2008)
- You can buy in KG Tower for 1100 AED/SQF (this tower is ready)
Conclusion: the price seems to be the normal price of this part of the Marina, and will probably increase as soon as it will be finished (maybe in 3 years).

Moreover, how can you explain that the price of Dubai Sport City or Jumeirah South Village are in average the same per SQF than the one of the Eden Blue Tower?
Raw material costs are the same for Marina or other part of Dubai! Maybe the marging will not be so high as the one of the other project in the Marina but it depends also of the price of the land: a developer who buy a plot now will not pay the same amount as last year or two years ago... so he has to increase the selling price...

To cheack the price of the market in Dubai:
http://www.alineah.com/market_analysis.asp
Dont forget that to buy in KG tower(completed),you would have to come up with all the cash!Hence the lower price.As we are on a payment plan and hope to have capital growth,a developer can ask for more per sq ft.........

[Morrismarina]

Dont forget that to buy in KG tower(completed),you would have to come up with all the cash!Hence the lower price.As we are on a payment plan and hope to have capital growth,a developer can ask for more per sq ft.........

That's interesting, what are the payment plan terms ??

[ParisDubai]

For the price of the studio:
http://www.bhomes.com

[Wannaberich]

Whats the full name for KG Tower and DEC Tower so I can look online?
750sq ft was quoted by someone here and had the chance to buy at that price.
1000-1200 is till very good I would think.Even if u get get Eden at 750 best to buy completed for 1200 somewhere else cos u have a head start of 2/3 years rent?
I guess if a developer paid same price for a plot in the Marina as in SC or JV then he could sell at 750,not that he would need to unless he wanted to sell out real quick.As for putting the prices up during development this is illegal?
If a developer stops building halfway through cos of rising construction costs does he have a certain time limit before he has to start up again?

[Wannaberich]

P.S
Anyone know the occupancy rate of the marina and how easy will it be to rent an appartment here?There is quite alot out there.

[mazdubai]

Dont forget that to buy in KG tower(completed),you would have to come up with all the cash!Hence the lower price.As we are on a payment plan and hope to have capital growth,a developer can ask for more per sq ft.........

Confused.

You seem to be suggesting that Eden will depreciate when ready because 'people will have to pay in one go'

Correct me if i'm wrong, but my understanding is that taking risk keeps the price down. When risk is over, i.e. construction is complete, the price goes up.

Eden Blue for 1000 or KG for 1100? There is only one winner. Get a mortgage.

I think full names are as you stated KG Tower and DEC Tower.

[Wannaberich]

I guess Eden Blue,KG & DEC are cheap because of their location having just checked them out.Back view at KG is awful,what looks like Industrial buildings.Maybe thats just temporary.

[Morten_Denmark]

I guess Eden Blue,KG & DEC are cheap because of their location having just checked them out.Back view at KG is awful,what looks like Industrial buildings.Maybe thats just temporary.

You will be rich if you buy those with the aweful view and they build Al Burj just outside your window.

[Wannaberich]

You will be rich if you buy those with the aweful view and they build Al Burj just outside your window.

Sorry is that sarcasim or do u mean it?Are they likely to build AB there cos they keep changing the location.
Just found a second floor 1bed at Eden Blue,built up area 775sq ft for 713.000aed,good?

[i love dubai]

Sorry is that sarcasim or do u mean it?Are they likely to build AB there cos they keep changing the location.
Just found a second floor 1bed at Eden Blue,built up area 775sq ft for 713.000aed,good?

All the 775 sq ft units have increased to 898 sq ft, and the price by 100k AED. Either it is an old advertisement, or the seller is not aware of that.

[Morten_Denmark]

Sorry is that sarcasim or do u mean it?Are they likely to build AB there cos they keep changing the location.
Just found a second floor 1bed at Eden Blue,built up area 775sq ft for 713.000aed,good?

Hi Wannaberich

No - I am very serious. I think this is the place for Al Burj - if not - I think they will build a second marina here anyway - and the location will be very nice in 10 years time. If you only have to pay half price here compared to the other end - my modest calculations (adding to figures) shows that this is the best investment in the Marina - but if you want a place to live for yourself - this is another story.

[mazdubai]

I thought the new canal would be starting somewhere near here.

Obviously not, but does anyone know where the canal is due to start from?

[italyindubai]

Paris Dubai wrote "The Eden Blue Tower was fully sold one year ago with an approximative price of 750 AED/SQF".

If this is true than you can be sure that the company wil go broke simply for mathematics. No company with a little brain would sell everything before construction because they can rely an a price increase. The cost of a plot alone in that area must have been around 180-220 Aed / sqf built up area. The construction costs could be around 300-400 Aed sqft. Considering the inflation rate and the undervalued dollar and therefore the local currency they either build the tower with paper panels or they will never build it. I still haven't got ant substantial information of who the developer is. So my suggestion remains to wait. My feeling is that the delay could be related to the fact that maybe they can either add floors to the building or change the destination. For example make an office building. In both cases this would give them more capital. Pay a little more tomorrow rather then losing everything today.

[ParisDubai]

That is exactly what they have done as all the studios and one bedrooms are now bigger in the contract than in the reservation agreement (around +10% at a price of 740 AED/SQF). So now they have more capital!

[mishmish]

Thank you for the replies... The owner mentioned nothing about the 775sqft apt increasing in size & obviously price. If I get it at the original selling price of 750 AED sfqt I wouldn't really mind. I will go up to the site and have a look at the location. I contacted Eden Blue today and they advised me construction was only due to start end March with completion date of July 2010

[mazdubai]

Thank you for the replies... The owner mentioned nothing about the 775sqft apt increasing in size & obviously price. If I get it at the original selling price of 750 AED sfqt I wouldn't really mind. I will go up to the site and have a look at the location. I contacted Eden Blue today and they advised me construction was only due to start end March with completion date of July 2010

Contact them again at the end of March and they will tell you 'the end of April' and so on........:ohno:

[mishmish]

Hmmm Perhaps I will get something nearing completion in JLT. Does anyone know if Eden Blue can get finance ? Very important for resale

[Donald Kay]

That is exactly what they have done as all the studios and one bedrooms are now bigger in the contract than in the reservation agreement (around +10% at a price of 740 AED/SQF). So now they have more capital!
i think you'll find they have increased the balcony size to get the additional sq footage as oposed to the apartments..

[mazdubai]

i think you'll find they have increased the balcony size to get the additional sq footage as oposed to the apartments..

Interesting, but you know this how......

If you have the new plan pls do post it.

[Donald Kay]

no i dont have the plans but spoke to the developer who confirmed this

[dubai banks]

Confused.

You seem to be suggesting that Eden will depreciate when ready because 'people will have to pay in one go'

Correct me if i'm wrong, but my understanding is that taking risk keeps the price down. When risk is over, i.e. construction is complete, the price goes up.

Eden Blue for 1000 or KG for 1100? There is only one winner. Get a mortgage.

I think full names are as you stated KG Tower and DEC Tower.
eden blue completed 2010,what price to purchase on marina then?

[dubai banks]

oops

[dubai banks]

Where can I see details of these projects?Are they off the ground yet?

I believe there may still be some resale units up for sale in Eden Blue with Better Homes in Dubai. bhomes.com

We bought our studio last June for circ 950AED/sqft and they are selling now for approx 1200AED /sqft - and they haven't started construction yet.

I have been told by a friend who works in real estate that others on the Marina doubled in price when they were finished.

We will be keeping our studio for holidays and as an investment for the future.

[ParisDubai]

The problem now is not the price but the start of the construction...

I just received an e-mail from Inv. House and the increase in price and footage is only due to the common area!!!!!
Is this situation normal and legal??? Do they have the right to do that? I called Better Homes and they tolm me that it is not normal but they were not sure of that? anybody know what i can do?

Thanks!

[mishmish]

I just spoke with Hussain from the Eden Blue project and he also confirmed the sqft increase is the common areas. He basically said it was due to Investment house defaulting on the original plans and as they have taken over they are responsible for the changes. 775sqft apts have now become 896.33 39,000 dirhams extra on original price. He is telling me the building company is called Sheraf but the agent is telling me it is Dujon ?? I have googled and cannot find anything on either.

[i love dubai]

Sharaf is the one they have signed a contract with to do the foundation. The 775 sq ft went up by more than 100k AED extra and not 39k on the original price.

[mazdubai]

Scant info on Sharaf on the web. I guess the guys in this listing is who they have to do the job:

http://br.tradeholding.com/default.cgi/action/viewcompanies/companyid/255962/

Excuse my naivety, but have we always been paying for some common areas?

My understanding was: total cost = (area of flat) x (sq ft price). Therefore the area of the flat was all we were paying for and it was as advertised.

Now if the area of the flat doesn't actually increase then they can't call it an
896sqft apartment can they?

Therefore to charge the extra they have to bill it as
(area of flat) + (common area) x (sq ft price).

Surely that would be against the initial agreement wouldn't it?

[i love dubai]

The problem is, we had reservation forms only, no agreement prior to signing the contract.

[mishmish]

Do any of you have contracts ? I am now having pressure put on me to make a decision and buy as the owner is already trying to put the price of a 775sqft apt up to 900,000AED! Crazy.
Eden Blue confirmed verbally to me that original apartments priced at 610,000 are now 649.837 AED for the extra sqftage. Yes very strange that the apartment size stays the same but you are forced to pay for extra areas. What will they come up with next ? Including this in the maintenance fees no doubt.

[mazdubai]

It seems to me the only logical explanation for what is going on is that they are retrospectively charging a higher amount per sqft. As there is no change in sqftage of the apartment, 'common areas' just sounds like a lame excuse.

eg. A 420sqft was about 336000. Now lets suppose they say it has increased to a 480sqft and charge 384000. Since it hasn't really increased they are charging 384000 for 420sqft which is over 900 per sqft.

Surely the contract must state that we pay for the actual sqftage of the apartment which is still 420.

[i love dubai]

Do any of you have contracts ? I am now having pressure put on me to make a decision and buy as the owner is already trying to put the price of a 775sqft apt up to 900,000AED! Crazy.
Eden Blue confirmed verbally to me that original apartments priced at 610,000 are now 649.837 AED for the extra sqftage. Yes very strange that the apartment size stays the same but you are forced to pay for extra areas. What will they come up with next ? Including this in the maintenance fees no doubt.

That is strange because my 775sq ft is now 898 and the price went up from 639k to 741k so it increased by 102k. and my 755 sq ft became 868 sq ft and the price went from 610k to 710k Maybe because both are on the 27th floor and has a good marina view? any way I am going to sell one and keep one.
Any one interested please pm me.

[ParisDubai]

I thing this is a big joke from Investment House!!!

As said before i bought a studio and the size increased by 79 SQ.FT and the price by 58 000 AED. This increase is due to the common usage area only.

Before signing the contract i called Mr Husain because the appendix A is missing, this guy confirmed me that the increase of size was only concerned the apartment and not the common area. Unfortunnatly i signed this contract. But hopefully, the contract should not be valid as we don't have the appedix A "Specifications including the Unit floor plan, schedule of finishes and specifications" because is not available, and so we didn't initial this appendix which is fully part of the contract"

This morning i received an e-mail from him saying that:
"Regarding the increase in size as explained to you earlier these are as per approvals of final designs.
The breakdown is as follows:
Living Area 347.67 sq ft
Balcony 110.33 sq ft
Common usage Area 73.18 sq ft"

The size of my studio was 452 SQ.FT in the reservation agreement!!!

I read again the contract and find the following:

on page 2 it is written:
"Unit Identification:
Unit N° SF XXX
Floor N° XXX
Approximatly Area: 531 SQ.FT"

And on page 6 the definition of the common property area is : "those parts of the Plot and Building not physically forming part of the units in the Eden Blue Towers and intended for benefit or use in common, by all the Owners in the Eden Blue Towers"

Conclusion: the square footage of my contract does not include the common area and so i signed for a unit of 531,18 SQ.FT only for the area of the apartment including the balcony.

Do you have the same understanding?

Moreover, i called Better Homes this morning and they confirmed me that the price of the contract should not include the common usage area!

What can we do? Any advice?

I will contact Inv House tomorrow as i wrote them many e-mails regarding this issue and of course when they are problems no answer.

Anyway if i bought 79 SQ.FT for common usage i will try to buy the best part of the swimming pool area and maybe i will do my living room their:) Or i will do the barbeque in my common usage area:)

Thanks

[Mr Dubai]

no i dont have the plans but spoke to the developer who confirmed this
wot r u talking about Donald Kay we need to know where you are getting this info stop it my son

[Mr Dubai]

I thing this is a big joke from Investment House!!!

As said before i bought a studio and the size increased by 79 SQ.FT and the price by 58 000 AED. This increase is due to the common usage area only.

Before signing the contract i called Mr Husain because the appendix A is missing, this guy confirmed me that the increase of size was only concerned the apartment and not the common area. Unfortunnatly i signed this contract. But hopefully, the contract should not be valid as we don't have the appedix A "Specifications including the Unit floor plan, schedule of finishes and specifications" because is not available, and so we didn't initial this appendix which is fully part of the contract"

This morning i received an e-mail from him saying that:
"Regarding the increase in size as explained to you earlier these are as per approvals of final designs.
The breakdown is as follows:
Living Area 347.67 sq ft
Balcony 110.33 sq ft
Common usage Area 73.18 sq ft"

The size of my studio was 452 SQ.FT in the reservation agreement!!!

I read again the contract and find the following:

on page 2 it is written:
"Unit Identification:
Unit N° SF XXX
Floor N° XXX
Approximatly Area: 531 SQ.FT"

And on page 6 the definition of the common property area is : "those parts of the Plot and Building not physically forming part of the units in the Eden Blue Towers and intended for benefit or use in common, by all the Owners in the Eden Blue Towers"

Conclusion: the square footage of my contract does not include the common area and so i signed for a unit of 531,18 SQ.FT only for the area of the apartment including the balcony.

Do you have the same understanding?

Moreover, i called Better Homes this morning and they confirmed me that the price of the contract should not include the common usage area!

What can we do? Any advice?

I will contact Inv House tomorrow as i wrote them many e-mails regarding this issue and of course when they are problems no answer.

Anyway if i bought 79 SQ.FT for common usage i will try to buy the best part of the swimming pool area and maybe i will do my living room their:) Or i will do the barbeque in my common usage area:)

Thanks
Why is this extremely long do we have the time be brief next time straight to the point please

[Mr Dubai]

Paris Dubai wrote "The Eden Blue Tower was fully sold one year ago with an approximative price of 750 AED/SQF".

If this is true than you can be sure that the company wil go broke simply for mathematics. No company with a little brain would sell everything before construction because they can rely an a price increase. The cost of a plot alone in that area must have been around 180-220 Aed / sqf built up area. The construction costs could be around 300-400 Aed sqft. Considering the inflation rate and the undervalued dollar and therefore the local currency they either build the tower with paper panels or they will never build it. I still haven't got ant substantial information of who the developer is. So my suggestion remains to wait. My feeling is that the delay could be related to the fact that maybe they can either add floors to the building or change the destination. For example make an office building. In both cases this would give them more capital. Pay a little more tomorrow rather then losing everything today.
Hey how come no one is interested in wot u say. I will entertain your comments u seem 2have very negative opinions why???????

[ParisDubai]

Mr Dubai
If you are not interested and if you have nothing special to say about the Eden Blue tower so please do not participate to this forum.

[Donald Kay]

i totally agree with you parisdubai. mr dubais comments are irrelevant to this board and add no value at all. mr dubai pls do not make personal references or we will report your conduct. there are other sites for people like you.

[Donald Kay]

parisdubai, i checked with inv hse today and they confirmed the additional sq ftage includes the common areas so we are being charged for these also! this is totally unacceptable can we take legal action? can they sell an apartment as 500 sqft when it is actually less?

[ParisDubai]

I get an e-mail from the manager of Inv House who will call me back next sunday regarding this issue. As you said this is totally unacceptable, and as you can see in my previous post there is no link in the contract between the area of my unit (the studio) and the common area.
I will report you the result of my discussion with the manager. Anyway before taking a legal action i thing we can try to speak with the Master Developer (Emaar) or the Land Department?
Maybe they try to get more money and some of the owner will pay and say nothing.

[Mr Dubai]

thanks for your comment however, i don't believe you are the chairperson to decide or suggest who participates in this forum thanks any way

[Mr Dubai]

listen here Mr Kay why a hostile threatening comment i was only making a point, take it on the chin mucker.

[Mr Dubai]

parisdubai, i checked with inv hse today and they confirmed the additional sq ftage includes the common areas so we are being charged for these also! this is totally unacceptable can we take legal action? can they sell an apartment as 500 sqft when it is actually less?
I am Mr Dubai and have invested in 3studios!! we should be sharing info in this forum and not gettin doggy about it squire

[Donald Kay]

are you kidding me?

[Mr Dubai]

do i give a shit
can you please elaborate on your termnology as i do not understand where your coming from. Once i understand your meaning i will entertain it ass

[Mr Dubai]

are you kidding me?
can you please elaborate on your terminology as i do not understand where your coming from. Once i understand your meaning i will entertain it ass

[Mr Dubai]

can you please elaborate on your terminology as i do not understand where your coming from. Once i understand your meaning i will entertain it ass
with name like that who are

[Donald Kay]

***

[Donald Kay]

***

[Mr Dubai]

are you kidding me?
With a name like yours, who r u Rambo. i think you definately are a Donkey!!!!!

[Mr Dubai]

***
Hold your horses Donald Kay can you stop from flyin any comments and i dont understand Mr Canjuice you have really lowered the tone of this forum if anyone out there agrees with me i think we should veto you out. Please do not input yr opinions if they are no relavant to our interest Eden Blue!!!!

[ParisDubai]

Mr Dubai,
I am sorry for you but i think we are all agree that you should go out from this forum.

I propose to ignore this strange guy called Mr Dubai without answering his provocations, starting from now.

And i propose not to invite him to the barbeque party:)

[mishmish]

Maybe Italy in Dubai is being held hostage until the foundations are dug :bash: and then Eden Blue are going to bury him alive!!!
Does anyone know of any developments that sharaf have completed ?

[dubai banks]

I don't think this is the right forum for lover's tiffs!!! Have your arguments somewhere else please children.:ohno:

Just so you all know we didn't receive our contracts this week as promised, still waiting. Although I did manage to get a reply to my email from Mr Hussain who apologised for not sending them yet but he has been extremely busy sorting all Sales Agreements and promised to send them in the next week. Watch this space!

Both my husband and I have spoken with regard to paying extra for common areas and both of us agree we are not going to do this. We will pay for our 430sqft as per our agreement, I was told our unit had increased by 30.4sqft, tp 464sqft. Once the contract arrives we will double check if this is actually 30.4sqft of apt or common area and will be contacting a friend who works in real estate in Dubai for advice.

Will keep you posted.

Only friendly people at the barby please:cheers:

[wheresmycoat_2000]

I believe we are paying extra money for common usage area. My suspicion is that they didnt raise enough money in the first go to cover unforessen costs/delays and, of course, the rising cost of construction. I bought my studio - it was 452 square feet on the reservation form and now its listed as 531 in the sales contract, with the new breakdown below as written by Inv House.

Net area (living room) 347.67 sq ft
Balcony 110.33 sq ft
Common usage area 73.18 sq ft

Not sure if its legal or moral to do this but it has to be acceptiable as my only other option is to not sign the contract and thus, not have the marina apartment. I am told that the new full sq foot amount (i.e. 531) is what is used for financing and resale purposes, so I suppose its not that big a deal if you don't see those extra feet within your 4 walls so long as the investment is protected.

P.s. Count me in for the BBQ. I make great salads!

[mazdubai]

I believe we are paying extra money for common usage area. My suspicion is that they didnt raise enough money in the first go to cover unforessen costs/delays and, of course, the rising cost of construction. I bought my studio - it was 452 square feet on the reservation form and now its listed as 531 in the sales contract, with the new breakdown below as written by Inv House.

Net area (living room) 347.67 sq ft
Balcony 110.33 sq ft
Common usage area 73.18 sq ft

Not sure if its legal or moral to do this but it has to be acceptiable as my only other option is to not sign the contract and thus, not have the marina apartment. I am told that the new full sq foot amount (i.e. 531) is what is used for financing and resale purposes, so I suppose its not that big a deal if you don't see those extra feet within your 4 walls so long as the investment is protected.

P.s. Count me in for the BBQ. I make great salads!



I take the point about not making a difference, but do you really think that other resale buyers aren't going to ask questions about size? You can tell them that it is 531 sqft when it is actually 452, but when they check out other properties that are ready, they will obviously see the difference. Also they will have the breakdown of costs and see 'common area'. I'm guessing no other contract in other developments that they look at will have this, therefore, unlike here they get what they pay for.

Eden Blue therefore becomes a far less attractive investment. We will have to sell according to our original size - there is no two ways about it.

[Morrismarina]

I believe we are paying extra money for common usage area. My suspicion is that they didnt raise enough money in the first go to cover unforessen costs/delays and, of course, the rising cost of construction. I bought my studio - it was 452 square feet on the reservation form and now its listed as 531 in the sales contract, with the new breakdown below as written by Inv House.

Net area (living room) 347.67 sq ft
Balcony 110.33 sq ft
Common usage area 73.18 sq ft

Not sure if its legal or moral to do this but it has to be acceptable as my only other option is to not sign the contract and thus, not have the marina apartment. I am told that the new full sq foot amount (i.e. 531) is what is used for financing and resale purposes, so I suppose its not that big a deal if you don't see those extra feet within your 4 walls so long as the investment is protected.

P.s. Count me in for the BBQ. I make great salads!

I assume the "common usage area" is mainly the corridor outside the apartment. There's no way this is used for financing and resale purposes. All a purchaser wants to know is the size of your actual apartment and is not interested in the size of the corridors, lifts, stairs, broom cupboard etc, etc.

Interestingly if you are paying for this common space I presume that you will actually "own" it. Otherwise you're paying for something you will not own which is crazy.

Assuming you'll own the common space presumably you will be liable for the upkeep of it seeing as it's not "commonly" owned. And will it be included within the "plan" of your apartment in the contract. There again, if it's the common area perhaps you won't own it ?? :nuts: Is your service charge going to be higher as it may be calculated with it included ??

All this seems very confusing to me and I've never heard anything like it. Why didn't they include this common area when you made your reservation ?? Obviously something's changed big time here, being the fact they want more money from you. :lol: I suspect like you say it's simply a way of increasing the apartment price. :bash:

[mishmish]

All properties in Dubai are advertised as their gross/build up area. I assume that includes common areas as well as the walls. Ie lift shafts in particular. If the 452 is your net area and you advertise it as 531 (or whatever size it is) I think you would only be doing what ever other seller does ?

However do not get me on a rant about greedy real estate in Dubai, as Vista Real Estate need naming and shaming as the greediest most incompetent agent in Dubai! I am in the process of selling an apartment I have to buy in Eden Blue and they are driving me to a breakdown snaking and sneaking around! Becuase of Vista I cannot buy until I have sold??? :ohno:
Can I come to your BBQ anyway ??? Im vegetarian so very cheap!

[Morrismarina]

Incorrect- the vast majority of units in Dubai are sold on a "net" area basis. This certainly does not include the lift shafts etc. My purchases with Select Property included the measurements from the plaster of the internal walls which is usual practice. ie. they quote the actual internal size of the apartment only - which is really the only figure we are interested in at the end of the day. Other developer's "net" measurements may be from the middle of shared party walls. Gross would normally include the full depth of walls but very rarely any common areas....... that would be ridiculous.

[ParisDubai]

When reading your contract do you understand that common party area is part of the SQ.Footage and price?

In my contract it is written:

on page 2 :
"Unit Identification:
Unit N° SF XXX
Floor N° XXX
Approximatly Area: 531 SQ.FT"

And on page 6 the definition of the common property area is : "those parts of the Plot and Building not physically forming part of the units in the Eden Blue Towers and intended for benefit or use in common, by all the Owners in the Eden Blue Towers"

My understanding is that common area has no link with the area of my apartment? What is your position?
Thanks

[wheresmycoat_2000]

Yes, Paris, i agree with you. The common area has no direct link to the space you have within your 4 walls. So, basically we are being asked to pay more for the same size apartment in terms of actual living space (i.e. we are further helping to finance the construction).

Listen, folks, we can sit around all day and bitch and moan about this point and that and yes, you would be morally right about certain aspects. My take? You can be totally right on your principles or you can have an off-plan investment in the marina. The longer you wait, the higher the price goes, especially within the marina.

Lets not forget the golden rule for a good ROI in dubai real estate. You either need to be the first in or the last out.

You have fewer risks buying when its completed and you can pull out the tape measure to get your own idea of actual livable space -- but then you would have missed the greatest possible cash windfall by not getting in earlier.

Risk v Return. Its a beautiful concept.

[mazdubai]

[QUOTE=wheresmycoat_2000;19053571]Yes, Paris, i agree with you. The common area has no direct link to the space you have within your 4 walls. So, basically we are being asked to pay more for the same size apartment in terms of actual living space (i.e. we are further helping to finance the construction).

We established that a long time ago.

Lets not forget the golden rule for a good ROI in dubai real estate. You either need to be the first in or the last out.

That's the whole point. It wasn't any benefit being the first in, cos they have retrospectively increased the sqft price by adding an imaginary 'common area'. Therefore we are all paying at least 900 sqft regardless of when we purchased.

Considering the value is probably now 1050, it doesn't look that great an investment. Not to mention the fact that some people most likely didn't budget in an extra 100,000AED for 'incidentals'

[wheresmycoat_2000]

Maz -
There was no need to quote my comment, which was a direct response to Paris' question.

As a CFO, I deal with risk/return scenarios all day long. Some people have the stomach for it and create great wealth. Others pretend they do.

As I am a resale buyer for my Eden Blue property, I can attest that your investment (assuming you were first in) has, in fact, increased, given my premium. If you are not happy with said increase, perhaps you should pull your money out (plenty of others will happily replace you as an owner) and put your money in a CD savings account, where you are certain its safe, guaranteed a modest return and free'd from creating an "incidentals" fund.

I wish you luck in your investments and that maybe you will in fact be present for the BBQ so we may share a friendly laugh in our terrific ROI.

[Donald Kay]

I would reccomend we make Emaar aware of our concerns - this is robbery simlple as that. we are paying for 12 cans of beans but actually getting 10 cans. this will have a serious impact on western investor confidence in the dubai market and i am sure Emaar and other stakeholders will take this sentiment seriously - or at least they should. It's down to all investors to push back in the strongest terms possible collectivley otherwise they will continue to push the envelope.

[Smack!!]

Both of you shut up!, this is the Eden Blue tower discussion, not the sissy fight doggy style orgy fight... so please stop it! Exchange ur MSNs and argue there. Although the mods would appreciate that you are giving them work, the rest of us dont, so please go and argue somewhere else, PERIOD!


****EDIT:**** was reading page eleven when replied to that sorry.. NVM

[Donald Kay]

who are you? shut up yourself - we are discussing the subject on this board yes that's right eden blue. what are your commenting on...eden blue?? i think not - take your useless comment to another board - thank you

[Smack!!]

^Dude have you read page 11? Its full of useless posts... so please dont stir off topic, i said i was reading last page and my comment was not appropriate for this page.

[ParisDubai]

We are all agree that our interest is that the construction start and end as soon as possible.

Do you know if the Arabian Canal will be next to the Eden Blue Tower? Still no project of moving the tanks near the Eden Blue?

[italyindubai]

They haven't burried me yet in the foundations and I think Mr. Dubai was already at many barbeque parties. Anyway no reason to panic, just stay cautious.:bash:

[italyindubai]

They haven't burried me yet in the foundations and I think Mr. Dubai was already at many barbeque parties. Anyway no reason to panic, just stay cautious.:bash: By the way. You cannot consider common parts as part of the size of the apartment. The use of common parts will be paid from everyone as maintenance costs once the building is finished.

[i love dubai]

We are all agree that our interest is that the construction start and end as soon as possible.

Do you know if the Arabian Canal will be next to the Eden Blue Tower? Still no project of moving the tanks near the Eden Blue?

Again the tanks are behind KG tower. There are no tanks behind Eden Blue.
I will take pictures soon and show you.
The whole power plant will be decomissioned once the massive plant in Jebel ali is completed, but I don't know when, maybe in 5 years?

[mazdubai]

wheresmycoat 2000,

You may not have noticed, but many people are concerned about this issue (apart from yourself). I'm not suggesting it will not be a decent investment in the end, however, it just won't be as good as it could have been. Noone wants to pay for something they are not getting.

It is the principle of the matter. Back then there may have been more attractive investments at 900-950per sqft. DEC for example.

We are trying to find a way forward together by sharing information. I fear though that we will all make our individual choices based on our circumstances and go ahead with the contract. (which is what they are probably hoping)

Seeing as though you have made up your mind not to put up a fight, maybe you can advise us... Is it a lost cause? Do we have any chance of getting a compromise?

My guess is not. Which probably means either sell, or put up and shut up.

[wheresmycoat_2000]

My guess is not. Which probably means either sell, or put up and shut up.


You got it, buddy.

The reality is that there are dozens of buyers who will happily pony up 500,000 or more for your studio if you want to sell, especially to people earning in Euros, which is at an all-time high. Then, they will flip and make a nice ROI.

You can kick up a a fuss and INV House will take back your unit and re-sell it. If you want total security, stay away from off-plan real estate (or perhaps, real estate as a whole).

Try not to look back and regret not buying somewhere else that might have offered bigger returns. Instead, be grateful that you were "first in" on a property that will only increase in value. I mean, you could sell yours now and probably make over 100% ROI after about one year of investment. That's terrific.
As an aside, I went in the workers lift in DEC towers and wasn't impressed.

All indicators suggest a bullish market in Dubai and the marina is one of the safer markets.

Good luck!

[Donald Kay]

inv house cannot "take your unit back and resell it" - frankly that is irrelevant - so is the point about the market and current/future returns. if you work hard and earn $100 from an investment of $50, is it then acceptable if someone takes $20 dollars away and tell you its ok as you still have $30 or 30/50 return? so you see the issue is not whether there's a return or potential return but rather it's a matter of principle. what would you do if someone took away that $20 from your hard earned investment? would you not follow up and escalate? i suggest we all consider this. again if we don't i fear inv hse will continue to push the envelope and get away with whatever they can esp. given they have much to recoup from their investment and poor judgement in selecting a developer (dujon) in the first place. whilst i empathise with their position it was their decision and to go with this supplier and we all need to manage our suppliers according to what we've agreed with them. we cannot pass the buck to others if an investment turns sour.

[ParisDubai]

Hi,

I spoke with the boss of Mr Hussain during half on hour. He was very clear with me:

- They had lot of financial difficulties during 2007 and had no choice than try to get more money to continue the project and to get the approval of Emaar. Without the increase of price and of the number of units they won't be able to build the Eden Blue tower.

- There are two choices for those who are not happy with that: they propose to buy your unit with a 10% prenium or to continue and pay more for the same size (I have no choice as i bought on the resale market with a prenium and so i will loose lot of money if i sell it to Inv. House)

There is no other possibility (we are not in Paris or London so i think we have to forget legal action or other action as we have more to loose than to win - and my feeling is we will loose anyway). Maybe it is not the best deal now, but it will be a very good deal in 2-3 years when the construction will be finished.

Hope you will have the same analysis!

Moreover he explained me that they changed the contractor and that the construction will start in the next few days (he said that maybe there are now workers on the site)

[Donald Kay]

thats your call if you're happy with that. just out of interest who did you speak with?

[ParisDubai]

I am not happy but no other solution

[wheresmycoat_2000]

I was at the site today and there are several large cables and trucks. Will post pics tomorrow.

[wheresmycoat_2000]

p.s. with reference to Mr. Kay...

You can be right in your principles -- as you are -- and further distress your investment.

If we cause major drama with Emaar and/or INV House then there might be further construction delays or, worse, the consturction is cancelled altogether and sold to another company where there may be no recovery.

Personally, I would rather have $30 return on my $50 investment than less or nothing at all. As I always say....better to focus on what you actually have than what you feel you may have missed out on (i.e. the other $20). You will sleep better at night.

Let them get to work on building the tower -- fast.

[ParisDubai]

Hi wheresmycoat! Any pics?
thanks

[wheresmycoat_2000]

I have some Amazing pics of the site!! When i came home I could not find my cable to connect the camera to the laptop...Grrr....

Tomorrow I go to the mall and buy one.

Stand by....

[wheresmycoat_2000]

OK - I have the pics on my laptop but can't seem to figure out how to upload them in a post.

Paris, I can email them to you if you like...