This tower will be launched on 19th April 2008

Location: DBD behind the business hub with a direct connection to the Burj Dubai Metro station.

It will be connected via the "BD TRAM" to the Dubai mall.

render

http://img166.imageshack.us/img166/1872/index01nb2.gif

model

http://img171.imageshack.us/img171/5320/dsc02280oo9.jpg

http://img85.imageshack.us/img85/9600/dsc02279te1.jpg

Its location in the DBD project

http://img217.imageshack.us/img217/6250/burjplaceye9.jpg

some info

http://img73.imageshack.us/img73/4875/index02eu0.gif

Wow, great height!!! I think it's 70 floors around :okay:

Around 300 meters high!!!

It looks around 50 Floors to me...Should be a little over 200M. I quite like the design, it looks like a good quality space filler.

Emaar is the best in town ;)

Nice one, this will add some more density to that zone. :cheers:

easily 200m+, if their scaled right in the pics

it's 55 floors

Hi-it's 55 floors!

Is that including or excluding the podium?

should be with the podium

http://img508.imageshack.us/img508/5250/39739047jy7.jpg

The development (Plot 4,5,6) consists of two high rise towers each comprising 55 storeys, adjacent to a lower rise tower of 18 stories, all connected with a podium that includes various amenities .(i.e. parking, retail, restaurants, conference centre, Hayya club, outdoor pool deck, tennis court, etc.)
The 2 tall towers (towers 1 and 2) are identically split into 2 parts: 20 floors of office space on the lower levels (levels 9 through 28) and 25 floors of residential serviced apartment units on the upper levels (floors 31 to 55).
The adjacent lower tower contains 10 floors of Serviced Apartment Hotel (floors 9 to 18)
Complition November 2011

This is very nice, exactly the type of building u want to see in such proximity to Burj Dubai. This will sit very well in the Downtown area. :)

http://www.arabianbusiness.com/index.php?option=com_pressreleases&view=detail&pr_id=16552&Itemid=77&ln=en

G+7 podium + 55F so its another 60F plus tower

One of the agents handling this has told me it starts at AED 5000per sq ft.:eek2:

One of the agents handling this has told me it starts at AED 5000per sq ft.:eek2:


Can anyone confirm these prices ? If anyone has contact to an agent I am interested in knowing the contacts. I tried caling Emaar sales - but obvious they are not answering fridays.

Emaar's Burj Place goes on sale

Staff Report
Published: April 18, 2008, 00:28

Dubai: Emaar Properties has unveiled its 55-storey, two-tower residential and commercial project, Burj Place, within Downtown Burj Dubai, the new centre of the city.

Burj Place, once completed, will be directly linked with the Dubai Metro and Burj Dubai tram, a company statement said.

Potential Burj Place residents will be able to choose from studios and one-or two-bedroom serviced apartments that range in size from 574 square feet to 1,253 square feet, making Burj Place a definitive choice for modern living.

Burj Place's commercial spaces come in areas ranging from 3,837 square feet to 7,027 square feet.

Saif Al Mansouri, sales director, Emaar Properties, said: "At Burj Place, Emaar invites its customers to be connected to Downtown Burj Dubai and Dubai, to their network and their business. Burj Place, the new addition to the Downtown Burj Dubai, is the address of prestige and status. It is a place with location, variety and style - offering a unique investment opportunity."

He, however, did not reveal the development value of the project.

Burj Place's residential and commercial units will open for sale tomorrow, at the Downtown Burj Dubai sales centre, with several institutions offering finance options.

Downtown Burj Dubai, the Dh73 billion ($20 billion) flagship mega-project of Emaar, described as the 'most prestigious square kilometre on Earth,' has become one of the most sought after destinations of Dubai's bustling city.

Homes at The Residences and The Old Town, two residential projects, have been handed over to customers.

Three hotels - Al Manzil, Qamardeen and The Palace, The Old Town, and Souq Al Bahar, a modern shopping mall have already opened.

http://www.gulfnews.com/business/Real_Estate_Property/10206529.html

Not one bit surprised by those prices. Apparently we're looking at 'most prestigious square kilometre on earth,' so if true, then expect even higher prices than this before long.

Any news from the results of this release? Was there a mad scramble as in previous Emaar releases? What and how many were queing ?Is it at a premium already? Any info appreciated.

Wondering, how much is a square feet in Burj Dubai now?!:runaway:

5000price seqfeet i think ..

just spoke to emaar-studios go for 3.6 m and 1BR for 4.6 m. Anyone know the office price?

just spoke to emaar-studios go for 3.6 m and 1BR for 4.6 m. Anyone know the office price?

Studios are 574 sqf and largest 2 bed are 1253 sqf. (Residental) Prices were above 6000 psf.

Commercials are a lot bigger - must have gone for a fortune

I know-it's crazy...can't believe people are still buying at that rate!!!

Still need the price for offices-anyone???

BURJ PLACE, DUBAI, U.A.E.

ARCHITECTS: SMALLWOOD, REYNOLDS, STEWART, STEWART (SRSS)

http://www.srssa.com (http://www.srssa.com)

SERVICES: ARCHITECTURAL DESIGN, INTERIOR DESIGN, ARCHITECTURAL LANDSCAPE DESIGN

SRSS OFFICE LOCATION:
DUBAI OFFICE
Dubai Emaar Gold and Diamond Park
Building No. 4 Suite 132
Sheikh Zayed Road
P.O. Box 333783
Dubai,
United Arab Emirates

Phone: +971 4 341 9418
Fax: +971 4 341 8417

http://i183.photobucket.com/albums/x134/sami_tabet/BurjPlace2.jpg

BURJ PLACE, DUBAI, U.A.E.

ARCHITECTS: SMALLWOOD, REYNOLDS, STEWART, STEWART (SRSS)

http://www.srssa.com (http://www.srssa.com)

SERVICES: ARCHITECTURAL DESIGN, INTERIOR DESIGN, ARCHITECTURAL LANDSCAPE DESIGN

SRSS OFFICE LOCATION:
DUBAI OFFICE
Dubai Emaar Gold and Diamond Park
Building No. 4 Suite 132
Sheikh Zayed Road
P.O. Box 333783
Dubai,
United Arab Emirates

Phone: +971 4 341 9418
Fax: +971 4 341 8417

http://i183.photobucket.com/albums/x134/sami_tabet/Burj456_100_Schematic_FINAL_sec0071.jpg

5000price seqfeet i think ..

I believe Emaar increased the price 3 times on the launch day.

starting price was 5500psf..... finished 25% higher close of play.

Can u believe that? :bash: :bash: :nuts::nuts:

I would really like to hear from anyone who was fortunate enough to get anything. :banana: :):)

Regards

KJ

Any dubai residents know the latest asking prices for these apartments?

I believe Emaar increased the price 3 times on the launch day.

starting price was 5500psf..... finished 25% higher close of play.

Can u believe that? :bash: :bash: :nuts::nuts:

I would really like to hear from anyone who was fortunate enough to get anything. :banana: :):)

Regards

KJ

With this price (5500p seqfeet) i can buy a palace at saudi arabia :nuts::nuts:not apartment at B PLACE

With this price (5500p seqfeet) i can buy a palace at saudi arabia :nuts::nuts:not apartment at B PLACE

That may/may not be case but it does not assist in reply to my request for "finger on the pulse" info on this development.

Regards,

kj.

Emaar's Burj Place open for Sale

http://www.estatesdubai.com/uploaded_images/burj-place-dubai-715601.jpg


Emaar Properties has launched a 55-storey two-tower commercial and residential project, Burj Place, within Downtown Burj Dubai, the new center of the city.

On completion, the Burj Place, will be directly linked to the Dubai Metro and Burj Dubai tram, said a company statement.
Burj Place offers studios, single and double bedroom serviced apartments in the rage of 574 square feet to 1253 square feet, making it the right choice for modern lifestyle. The commercial spaces of 'Burj Place' range from 3837 square feet to 7027 square feet.

Emaar Properties Sales Director, Saif Al Mansouri said "At Burj Place, Emaar invites its customers to be connected to Downtown Burj Dubai and Dubai. Burj Place is the new addition to the Downtown Burj Dubai, the address of prestige and status. It is a place with variety and style, offering a unique investment opportunity."

The development value of the project is, however, yet to be revealed.

The residential and commercial units of the development will be open for sales tomorrow at the Downtown Burj Dubai sales center, with various institutions offering attractive finance options.

The Dh.73bn ($20bn) Downtown Burj Dubai, flagship mega-project of Emaar, known as the 'most prestigious square kilometer on Earth', is now one of the most desired destinations in the bustling city of Dubai. The units at 'The Old Town' and 'The Residences' have been handed over to the customers, and three hotels, and a modern shopping mall are already open in the development

just spoke to emaar-studios go for 3.6 m and 1BR for 4.6 m. Anyone know the office price?

FYI!

FYI!

I believe both MalcolmX and Bizzybonita have misunderstood my question or maybe I am asking information which is not available.

I want to know the Current market price for studios and 1 bed apartments in Burj place. i.e. what premium would for example if I was to purchase(can only dream) would be requested by the fortunate owner. :banana:

If for example someone purchased @ 5500psf how much are they demanding on a resale.. 7500psf ? :nuts:

If anyone can assist it will be appreciated.

Regards,

KJ.

I know Burj development will be special, close to the financial hub and all that, but this is getting very close to premium Manhattan prices per sq ft. Can't possibly be sustainable in the long term. Getting to the point now where some fingers are going to get seriously burned.

My friend bougth there( He is stupid by the way) for AED 7000/sqft. I really like to know what people are thinking?

Does anyone know if there will be any new residential or commercial buildings going to be released in Downtown burj dubai?

^^ Yes there will. There are still spaces for loads of towers to be built. Emaar has more planned for sure but seems to be launching them all now so they can cash in.

spoke to Emaar the other day, they are not offering the offices spaces in Burj Place for sale anymore. Wonder why they are not offering?
Does anyone know if they managed to sell any office spaces.? Hear starting prices were 6400/- per sq ft +

Today they release some and all for saturday event

at what prices have they released today?

Will they increase the prices for the event on saturday for the units in buildings such as The Residences, Boulevard Walk, Boulevard Plaza.that have already been launched?

just spoke to emaar-studios go for 3.6 m and 1BR for 4.6 m. Anyone know the office price?

prices starts from 7,500 + p/sq/ft but the smallest unit not less thn 3,300 sq/ft

I believe both MalcolmX and Bizzybonita have misunderstood my question or maybe I am asking information which is not available.

I want to know the Current market price for studios and 1 bed apartments in Burj place. i.e. what premium would for example if I was to purchase(can only dream) would be requested by the fortunate owner. :banana:

If for example someone purchased @ 5500psf how much are they demanding on a resale.. 7500psf ? :nuts:

If anyone can assist it will be appreciated.

Regards,

KJ.

Hi Jay,
Prices right now are at trading between 7,000 & 8,000 p/sq/ft, the prem at this stage is low - 5 to 10 % -
When Emaar launched the project everything was gone within hours only. However Only HALF of the project was released, units facing shk zayed road, when they launch phase 2 in the future (units facing the burj) asking price from Emaar will be 25% more minimum.

Hi Jay,
Prices right now are at trading between 7,000 & 8,000 p/sq/ft, the prem at this stage is low - 5 to 10 % -
When Emaar launched the project everything was gone within hours only. However Only HALF of the project was released, units facing shk zayed road, when they launch phase 2 in the future (units facing the burj) asking price from Emaar will be 25% more minimum.

Thanks for the info, Roula.

I believe this is going to be a mega development... People were literally fighting for these units...as if they were handing them out free..:nuts:

Anyone need a studio on 50+ floor make me an offer I cannot refuse.

Regards,

KJ.

anyone looking for office space in boulevard plaza. contact me!

prices starts from 7,500 + p/sq/ft but the smallest unit not less thn 3,300 sq/ft

Thanks mate. I can't believe anyone would buy at this rate...unbe-f..-lievable!

Thanks mate. I can't believe anyone would buy at this rate...unbe-f..-lievable!

Well they not only did but they were fighting for them !! :ohno:

You have to realise these units are going to be in the most exclusive kilometre on earth.

Not only that these apartments are serviced.

Considering some apartments are going for 17000sqft in the burj....these may seem a snip in 6-12 months. Emaar have not held back in releasing the remaining units for no other reason but to increase the price by 25-50%. :bash:

I have seen adverts..ppl already asking 20% premium :nuts: :)

Regards,

KJ

I purchased a unit as well on a high floor... just wait and see :)

when downtown development will come close to completion with many many tourists + biz visitors + shoppers visiting the area, the ONLY building they will have to go through whether they like or not - coz of the Tram & Metro station - would be Burj Place.
Since its the only develop. directly connected to the airport, Dubai Mall, Burj Dubai, etc.. especially during summer time with the Lovely heat/humidity outside

I purchased a unit as well on a high floor... just wait and see :)

when downtown development will come close to completion with many many tourists + biz visitors + shoppers visiting the area, the ONLY building they will have to go through whether they like or not - coz of the Tram & Metro station - would be Burj Place.
Since its the only develop. directly connected to the airport, Dubai Mall, Burj Dubai, etc.. especially during summer time with the Lovely heat/humidity outside

Very interesting... why not pm me and we can discuss further.

Regards,

KJ

Hi guys,

I prchased one on 45th floor! It was crazy!!

But I believe cant sell them until 3rd payment.

Yes they only launched SZR views - they are launching Burj Views later, to increase premium of these!

Great location and great development though! Fantastic!

I purchased one on 54th Floor, just below the highest, hope the person who lives in get the best view from there.

If interested make me an offer.


Thanks

^^ Just to tell you guys, you're welcome to post on this forum but it isn't a real estate portal, it's an architecture and construction forum. No advertising apartments here.

Whats the payment plan for this project? (Not that I can afford one in a million years but just for my info...)

Whats the payment plan for this project? (Not that I can afford one in a million years but just for my info...)

When is Burj Place ready for Hand-over ?

around end 2011-2012

Any updates on this development?

Any news when Emaar may release the Burj facing units?

After all the inital ho ha its seems to have gone awfully quiet.

Regards,

KJ

There are no updates on Burj facing units from EMAAR.

The prices of SZR facing at investor's launch were 5600-6600 psf (by half floor).

http://img369.imageshack.us/img369/356/imresolt069bi6.jpg

http://img369.imageshack.us/img369/356/imresolt069bi6.jpg

Imre, that is without a shadow of a doubt the best photograph ever taken of Burj Dubai, by miles. I mean, it's not even close. That is just awesome. Congrats.

it really seems to me to be like an entrance to the great Burj Dubai !!

does anyone would imagine to get suicided by flying from the top ? lol

http://www.remaxunlimiteddubai.com/public/listingSingle.do?listing.listingID=753974

Price: AED5,366,956
Type: Apartment
Bedrooms: 1
Baths: 1.0
SqFt: 827

Location:
Burj Dubai DownTown

Any idea when is the launch of phase 2 Burj Place (apartments facing the burj)??

I am very disapointed with the response to Burj Place.

Perhaps not many ppl can comprehend "Serviced Apartments"

Or it may be that most ppl are in to make a quick buck and jump on the next train.

In saying that this is usually the slow part of the year in Dubai property and Emaar seems to be launching something every 3 weeks.

For a long term hold Burj Place is a fantastic investment.

Regards,

KJ.

http://img369.imageshack.us/img369/356/imresolt069bi6.jpg

wow realy this is the best photo yet, maybe in the next hundread years i will be able to live there, or maybe lesser, u dont know what happen to ppl in this country, u can jump up in no time. ;)

Any further news on this development?

Next release?

Is the market in Downtown dead?

What is the latest?

All/ Info appreciated.

Regards,

KJ

Any news on this?

Gone ever sooo quiet on this development?

Anyone managed to sell any?

Regards,

KJ

^^ Am sure the thread will pick up again when they start building.

^^ Am sure the thread will pick up again when they start building.

Any idea when will the construction start? any approximate date?

Maybe they will launch phase 2 (facing the burj) before that

Hi,

Has anyone managed to sell on of their units in this development.

I am having real difficulty... no joy whatsoever?

Any suggestions?

KJ

Hi Kay Jay,

Burj Place is a fantastic project. Why on earth would you want to sell it? I understand that a 5% premium sounds enticing, but if you have the funds to hold on to it, it would give you excellent returns!

As for a quick sale, well, try to list with some reputed agents such as bhomes who market properties internationally as well. That would definitely give you a better chance of selling your property :)

Regards.

The apartments in Burj Place (plus few other projects) that are facing the burj will be launched this saturday as per Emaar's website.

You'll change your mind and decide to hold the apartment with you instead once you see the new selling prices in a couple of days! :)

Burj Place should be around 7000-8000 Psft if i'm not mistaken. The project is simply fantastic since the towers itself are directly connected to the metro! Just can't get better than this!!!

Does anyone know what the price/sqf is for the apartments facing the burj? they launched these today.

The 1 bedroom was between 7.1-7.5 million. That was in the morning, I'm not sure where did the price reach to at the end of the day.. maybe 8 million :lol:

Seriously, are these prices even sustainable. You can buy a 2 BR apartment in Manhattan for these prices!!!

Even if this is as an investment, what kind of rental yield are these people expecting? An average 5% per year rental yield would amount to AED 400K per year which i absolutely doubt that anyone would pay for a 1 BR place.

This just doesn't make sense.

Seriously, are these prices even sustainable. You can buy a 2 BR apartment in Manhattan for these prices!!!

Even if this is as an investment, what kind of rental yield are these people expecting? An average 5% per year rental yield would amount to AED 400K per year which i absolutely doubt that anyone would pay for a 1 BR place.

This just doesn't make sense.


It might make sense for serviced apartments (just like Burj Place) but not for other developments:

Yes, no one would pay 400K for a rental, but if you look at it from the serviced apartments perspective

400K per year /12 months / 30 day = AED 1100 - 1150 per day (approximate figure).
On an average of 70% occupancy, you have to rent it at:
1100 / 0.7 = AED 1570 / day

AED 1600 is a fair value, considering its location on Sheikh Zayed Road, plus its direct connection with the metro and the business center (which increases its occupancy rate). You might need to add the service rate but that doesnt increase it much.

But for other projects that were launched recently (without naming them), its not a feasible investment

Seriously, are these prices even sustainable. You can buy a 2 BR apartment in Manhattan for these prices!!!

Even if this is as an investment, what kind of rental yield are these people expecting? An average 5% per year rental yield would amount to AED 400K per year which i absolutely doubt that anyone would pay for a 1 BR place.

This just doesn't make sense.

I think some investors will get burnt with these in the near future. 1 million pounds for a 1 bed apt in an emerging area.... more expensive than knightsbridge/mayfair - its not as if this is burj dubai tower - you may be able to just about justify it then.

This is emaar being greedy and exploiting naive investors who missed out earlier on burj dubai. Thinking rationally about it as most investors are buying so that they can flip I doubt there will be that many end users coming in at these levels especially given the current economic condition of the rest of the world

Errr, these definitely are NOT the properties to be used for short term profits. Even trying to sell these at a 5% premium can turn out to be a nightmare.

Errr, these definitely are NOT the properties to be used for short term profits. Even trying to sell these at a 5% premium can turn out to be a nightmare.

Agreed Absolutely !

Btw what were the levels reached in the new releases on sat 12/07.

Any idea of studio 50th floor?

Regards,

KJ

I've noticed a couple of excavation and pile wall vehicles in burj place area while driving on Sheikh Zayed Road the other day

Has construction begun (or about to begin) in burj place? :)

If anyone can confirm or post some pictures that would be great.

Good info Arabian !!! :okay:

Thanks!

Soon we'll be seeing the thread come to live as ground work starts!

This is tempting, I guess I'll be selling my 1 bedroom apartment soon :)

That's great. Any chance you could take some of the pictures yourself?

Has anyone bought commercial office space in Burj Place?

That's great. Any chance you could take some of the pictures yourself?

I'm not in Dubai at the moment but will ask a friend to give it a try.

Has anyone bought commercial office space in Burj Place?

Yep. I know someone did.

Did you manage to get one?

How is the response he is getting?

I'm not sure but I think he's doing fine. Few contacts here and there, but I guess he's planning to go for the next payment to ask for a higher premium.

You'll be surprised with the burj place selling prices posted on Emaar's website.

They have a studio for AED 10,400 / Sq.Ft :ohno:

I thought my AED 6500 / Sq.Ft was expensive :banana:

I heard commercial space is priced at around DHS 5,000-5,300 per sq ft in boulevard plaza, why would anyone buy in burj place at more than AED 6,500 sq ft?

I heard commercial space is priced at around DHS 5,000-5,300 per sq ft in boulevard plaza, why would anyone buy in burj place at more than AED 6,500 sq ft?

Location, location, location my dear.

Being directly located on Sheikh Zayed Road + direct connection to the metro station and to dubai mall is a major feature. It will be a preferred destination to businesses, especially when you consider the fact that it has a direct link to the airport and to other major destinations in Dubai (via the metro).

Consider the nature of the building itself.. serviced apartments, a hotel and commercial spaces. It's a busy place with high traffic.

Boulevard Plaza and burj place are less than 2 mins walk apart. In fact boulevard plaza is closer to the Burj Dubai Tower + it's going to be completed very soon (August 2009). whereas burj place will be completed in 2011, So even if metro will be started in 2009, burj place residents won't get to use it till 2011.

True.
But I still like the burj place's location more in addition to it's payment plan (Not that I'm downgrading other projects, they're all fabulous, but we still have personal preferences) :)

Now that you brought up the price comparison subject.. Let me ask you something, since when did Emaar's prices make sense at the first place :lol:

absolutely right!.
But what do you think will happen to the prices of these buildings once the Dubai Mall is opened on the 30th of October and then the burj nears completion?
Will this have an effect on the prices?

I believe so. As traffic to the area increases, people tend to explore the downtown even more.

As you know, demand builds up as awareness increases

Good luck to the current and future investors (and to you too dlnash) :)

I wonder what will happen in Citiscape!

ppl who have invested between 2002 and 2006, must be having a ball of a time!
:)

You'll be surprised with the burj place selling prices posted on Emaar's website.

They have a studio for AED 10,400 / Sq.Ft :ohno:

I thought my AED 6500 / Sq.Ft was expensive :banana:

I am a bit surprised though. I was expecting the burj dubai facing units to go much higher than that...otherwise there is practically no appreciation for the owners of the units facing szr (especially the ones on the higher floors).

has anyone been able to sell at 5% premium or is this another one of those hype-news again :ohno:

I reckon, we will see a lot of these units on the resale market pretty soon !!

I am a bit surprised though. I was expecting the burj dubai facing units to go much higher than that...otherwise there is practically no appreciation for the owners of the units facing szr (especially the ones on the higher floors).

has anyone been able to sell at 5% premium or is this another one of those hype-news again :ohno:

I reckon, we will see a lot of these units on the resale market pretty soon !!


You expected them over 10,000 Sq.Ft?
The Mansion and several other projects were around AED 7500-8000 / Sq.Ft. Since these are serviced apartments and the back view units were recently launched; 10,000 is too good. Please bear in mind that the secondary market is yet to come, allowing more appreciation in price.

Moreover, AED 6500 to AED 10,000 is around 53% :) So SZR apartments have benefited too. Just give it some time. Summer is ending, people are coming back from their vacations and Citiscape is very soon too.

Hello,
It's difficult to get a good picture from behind the fence since the panels are so close to each other. The other alternative was from SZR, which the mobile camera can't get it clearly.

Can anyone or any downtown resident take a picture of Burj Place's construction area. It looks like they started the pile wall activities.

Please post the pics at the earliest in order to change the thread to "Ground Work". I'm sure this will make many of us happy :)

Does anybody have an updated masterplan for locating the new plots that have been announced over the last few months?

Emaar do not put up any boards so its difficult to know exactly what is what with exception to the obvious.

Does anybody have an updated masterplan for locating the new plots that have been announced over the last few months?

Emaar do not put up any boards so its difficult to know exactly what is what with exception to the obvious.

I'm sure someone here would be able to help you.

Since you are an Old Town resident, is it possible if you could get few pictures of Burj Place's construction area. I guess there is one pile wall machinery and 2 cranes

^^
Arabian, I will try and get some pics tomorrow as I think I know where the site is, should be pretty easy next to BD Metro station I guess.

Many Thanks :)

Arabian, went along to the site this morning and took some pics from the roundabout next to the Emaar offices, but the high blue fence around the site perimeter maybe restrict what I got on camera.

What I could see was that excavation and shoring activity was ongoing at the site so a start.

If the pics have anything usefull I will post this evening.

Thank you for your efforts. Appreciated.
I guess the only way then is to have the picture taken by a resident next to the construction site from a higher floor

We just want to show that ground work had started, so the thread's title can be updated. Do you think your pictures show this?

Best I could get by standing on a sculpture at the roundabout to see over the high blue fence, but yes construction is in progress.

I will look around for better vantage points.

http://i36.tinypic.com/205z4uw.jpg

Many Thanks to Old Town Resident :)

Thanks for the picture OTR

Thanks OTR. Even that one picture you've provided gives a lot of info. :)

It looks like they're mobilizing. I dont see any excavation started yet.

Assuming they start excavation in a couple of weeks time and allowing for 8-9 months of shoring / piling, I reckon they should start pouring the basements by June-July next year. :cheers:

A bit more on the ground work status.
http://i38.tinypic.com/2uxtmhk.jpg

Wow OTR! couldnt guess they had progressed so much from your earlier photo. looks like they are well into excavation now. Really impressive :applause:

And thanks for all the trouble u took. Btw, how did u get access into the site?

People,

I have just got hold of a copy of the Sales Agreement (not the Registration Form). And it says there

"Purchaser represents that the Unit is being purchased on Purchaser's own behalf and the Unit will be beneficially owned by the Purchaser and the Unit is not for resale within (12) twelve months of handover unless with the prior written approval of Vendor..."

Does anyone know anything about this :?
Earlier Emaar was saying that resale would be allowed after 30% payment.

If this is true then this will definitely affect the market price of this development.

its good for the Emaar, they will cancel many contracts because the flippers can not pay the next payments.

29/Aug/2008

Burj Place

http://img148.imageshack.us/img148/2238/imresolt032ok5.jpg (http://imageshack.us)

http://img149.imageshack.us/img149/2306/imresolt033yq4.jpg (http://imageshack.us)

Thanks for the pictures IMRE. These will be a great addition to the Skyline. Best part is you get off the metro and walk straight into your apartment. I don't think it can get more convenient than that!

^^ The Downtown Tram Line will also start from the base of the tower(s) ... so yeah it can get better then that. :cheers:

Is there a render for the tram system? Also, any idea about the location of the tram stations as well?

Is there a render for the tram system? Also, any idea about the location of the tram stations as well?

Here you go...

http://www.skyscrapercity.com/showthread.php?t=613151

People,

I have just got hold of a copy of the Sales Agreement (not the Registration Form). And it says there

"Purchaser represents that the Unit is being purchased on Purchaser's own behalf and the Unit will be beneficially owned by the Purchaser and the Unit is not for resale within (12) twelve months of handover unless with the prior written approval of Vendor..."

Does anyone know anything about this :?
Earlier Emaar was saying that resale would be allowed after 30% payment.

If this is true then this will definitely affect the market price of this development.

What do you think they mean by "Unit is not for resale within (12) twelve months of handover " ...

If handover is within 12 months, I cannot resell the unit?
Or after handover within a period of 12 months, I cnanot resell the unit?

^^ It seams the later.

Really? I don't think that really seems fair.

My interpretation is that you can sell it until 12 months before the handover. However, the confusion with this aspect is that customers are never informed of project delays so they might have to stick with what is stated in the contract.

If i purchased a unit, i should be fully authorized to do whatever i wish to do so with it once i have payed the full amount. I really don't see how any restriction could be placed on this once they have take all our money!

Yeah, amazing project and nice construction progress. I wonder however if Burj Downtown is commercially viable. My friend is struggling with selling his 1 BR in Burj place with 1% DISCOUNT on original price (5,538 per sq.ft) and deferred downpayment...:nuts:

Burj Place is a brilliant place to stay - IF you're the end user or an investor who can pay full price. However, anything around 5000/Sft should be a complete no no (a nightmare!), for flippers.

1 BR's in The Mansion were sold for 8-10 Million. Check the papers; you constantly see these for sale at no premium and well below purchase price. Heck, i have a friend who purchased a 4500 Sft unit in Burj Square for AED 30 Million and is having hell of a time trying to flip it. I mean what kind of logic is one employing when considering such high end investments for a flip. That said, if he were to pay full for it, he would be golden as these are some VERY exclusive investments (both Burj Place and Burj Square).

Burj Place is a brilliant place to stay - IF you're the end user or an investor who can pay full price. However, anything around 5000/Sft should be a complete no no (a nightmare!), for flippers.

1 BR's in The Mansion were sold for 8-10 Million. Check the papers; you constantly see these for sale at no premium and well below purchase price. Heck, i have a friend who purchased a 4500 Sft unit in Burj Square for AED 30 Million and is having hell of a time trying to flip it. I mean what kind of logic is one employing when considering such high end investments for a flip. That said, if he were to pay full for it, he would be golden as these are some VERY exclusive investments (both Burj Place and Burj Square).

Even if one were to pay the full price for the burj place unit, how much can the price appreciation be? given that the size of the one bedroom is around 860 sq ft, so O.P must have been around AED4,7 Million ..thats already pretty expensive for a 1 bedroom..will there be end users willing to pay such high prices? wont ppl prefer to leave 2 stations down the metro at around or less than half the price?

You are only going to see price appreciation once the bricks are layed and...

People cannot appreciate the "connectivity" aspect.

Dubai Mall will be up and running soon.

When the tram is functioning.

Then see prices surge.

Do you not recall prices on THE BURJ were stagnant during the initial period, the same is applying to BURJ PLACE.

Regards,

KJ

Unlike 'usual' residential apartments, Burj Place units are serviced apartments that offer a better return on investment, especially for short stays.

Hi

Anyone managed to sell one of these units?

What is the current position?

Is Emaar deffering payments?

Any info appreciated.

Regards,

KJ.

Any new images of Burj place?

How's the construction progress going.. anyone?

This place was launched at extraordinarily high prices and considering the drop in price in BD itself, then it makes it twice as unattractive and stupid.

Why people risked buying such a property, I will never know.

This place was launched at extraordinarily high prices and considering the drop in price in BD itself, then it makes it twice as unattractive and stupid.

Why people risked buying such a property, I will never know.

I'm sure most of the ppl who have bought in this have only paid 5% or maximum 10% uptil now. Based on the current situation, I'm sure more than 90% will default on their second payments. Most of them might be even willing to forgo their initial desposits. That means, there is no-one going to make the full payment. The best thing for Emaar at this point is to re-negotiate the prices for these units with the ppl who have bought them, For.e.g. if ppl bought at AED 6,000 psf,, they should bring them down to AED 1,500-2,000 psf. I'm sure even at these prices, Emaar will still definately make a huge profit on this construction..with construction costs falling.
This will allow the buyers to actually make complete payments for their units..So, everyone is a winner in this case.
Emaar would have sold all the units and ppl will be happy with their purchases and would be rather willing to hold onto them till completion.

This place was launched at extraordinarily high prices and considering the drop in price in BD itself, then it makes it twice as unattractive and stupid.

Why people risked buying such a property, I will never know.

if you buy in the BD you have to pay 60-80% of the oriiginal price + the premium, payment plan in these towers good, I also paid 5% down payment + 10 % , next payments just in every 6 months.

19/December/2008

Burj Place

http://img223.imageshack.us/img223/6514/imresolt230jv2.jpg (http://imageshack.us)

http://img149.imageshack.us/img149/6365/imresolt231ly2.jpg (http://imageshack.us)

http://img223.imageshack.us/img223/8144/imresolt232df7.jpg (http://imageshack.us)

latest news from Emaar is that this building has been cancelled

^^ nothing cancelled if they wanna to cancel they can do it for outside projects not for Downtown burj dubai projects :D .

What's happen actually is only slow down the rate of progress ...

^^ nothing cancelled if they wanna to cancel they can do it for outside projects not for Downtown burj dubai projects :D .

What's happen actually is only slow down the rate of progress ...

I,myself, have spoken to two different Emaar sales ppl and they CONFIRM Burj Place has been cancelled. People who had booked and paid 5% or 10% , have been offered to downgrade to other units in Downtown at Emaar's current prices. They are not offering any refunds of deposits.
M Burj has also been cancelled.

^^ Not on hold but cancelled never to be built again? Are you sure?

Anyway, an aerial picture

http://img154.imageshack.us/img154/1037/burjplaceyr7.jpg

doesn on hold imply being cancelled in other words, but ppl who bought here are stuck, either they will have their deposits forfeited or they will have to pay AED 3million for a 1 bed in some other building in DBD

same as the Nakheel, I think , they have no money thats why can not refund anything

doesn on hold imply being cancelled in other words, but ppl who bought here are stuck, either they will have their deposits forfeited or they will have to pay AED 3million for a 1 bed in some other building in DBD

which building offered 1 b/r for 3 million?

which building offered 1 b/r for 3 million?

southridge, burj views..the cheapest

great offer, Burj Views 1 b/r for 1.1-1.4 million in the resale market:)

Imre - no recent pics for Dubai Sports City??

doesn on hold imply being cancelled in other words, but ppl who bought here are stuck, either they will have their deposits forfeited or they will have to pay AED 3million for a 1 bed in some other building in DBD

It's not fair to force investors to purchase apartments in other projects or have their deposits fortfeited. What kind of choice is that :mad:

If a developer cancels a project, the deposits should be returned.

What are you planning to do dlnash?

Guys.. what do you suggest in such situations? Any recommendations?

It's not fair to force investors to purchase apartments in other projects or have their deposits fortfeited. What kind of choice is that :mad:

If a developer cancels a project, the deposits should be returned.

What are you planning to do dlnash?

Guys.. what do you suggest in such situations? Any recommendations?

I, thankfully, don't have anything in Burj Place. But if you have bought something there, then you must immediately go to Emaar Customer Service in Emaar Business Park Building 1 to discuss what your options are. But they are not going to refund any deposits, thats confirmed.

I saw official reply saying that there is no info on project cancellation. They had no balls however to confirm in writing that the project is going through.

IMHO EMAAR will wait until February payment is due. Once it is clear that many have defaulted and it is not feasible to carry on, they will officially cancel the project. Those most loyal who manage Feb payment will get their money back. However, it is possible that this scenario will materialize at the time of next (August?) payment.

any one knows what is the payment plan here?

Yes, Imre, I do.
The plan is as follows:
5% on purchase
10% 01-09-08
15% 01-02-09
15% 01-08-09
15% 01-02-10
15% 01-08-10
15% 01-02-11
10% 30-12-11 completion

So, is this officially on hold?

still not ,Emaar will wait for people to default before they cancel.

Anyway I doubt that they have money to start anything there.

Yes, Imre, I do.
The plan is as follows:
5% on purchase
10% 01-09-08
15% 01-02-09
15% 01-08-09
15% 01-02-10
15% 01-08-10
15% 01-02-11
10% 30-12-11 completion


thanks, so next payment is in Feb 2009, so they have to start the construction before they can ask the money, we will see.

Imre,

I really doubt that the 20% rule would apply to the big 3 developers. What do you think?

Imre,

I really doubt that the 20% rule would apply to the big 3 developers. What do you think?

They are making the rules and if they break them also then it won't look good. I think they will stick to the new 20% rule.

^^ I would be extremely pleased if that were the case.

The earlier decree about construction linked payments was dismissed by Nakheel with the reasoning that it was meant for sub developers only; hence the apprehension about these new rules.

EMAAR has stopped acceptance of downgrading applications until further notice.
Possible scenarios:
1) They want to screw those who did not bother to downgrade completely, as 15% payment is near and massive defaults are expected
2) They are preparing Burj Place obituary and busy scratching for refund

Whatever, hali-gali (hali-wali) :cheers:

Imre,

I really doubt that the 20% rule would apply to the big 3 developers. What do you think?

they are above the law :)

EMAAR has stopped acceptance of downgrading applications until further notice.
Possible scenarios:
1) They want to screw those who did not bother to downgrade completely, as 15% payment is near and massive defaults are expected
2) They are preparing Burj Place obituary and busy scratching for refund

Whatever, hali-gali (hali-wali) :cheers:

What do you mean by "downgrading application"?

e.g. you can change your Burj Place apartment into Burj Views or South Ridge 1 bed, for 3-3.7 million . (or Address Hotel studio for 4 million:))

This is very bad business because after you will have an apartment which market value is 1.5 m now.

1 bed in BV or South Ridge for 3-3.7 M? That's highway robbery!

They should try to work out a solution with the investors which is beneficial both to the investor and the developer. What about all the other towers in DBD which were sold at 4000-10,000/Sft? Pretty much all the towers sold in the last 2 years have been in that range :ohno:.

they sold out just a few units there , 10-20%/towers.

what do you think they have enough money to build it?

Should they? They are already in win-win situation. You either downgrade in somewhat overvalued 1 BR or admit your default. :bash:

The only thing which might comfort the buyers:
Once the shares are finally below 1 fil a share one can buy it for his kids to play some kind of "Monopoly Jr" :lol:

EMAAR has stopped acceptance of downgrading applications until further notice.
Possible scenarios:
1) They want to screw those who did not bother to downgrade completely, as 15% payment is near and massive defaults are expected
2) They are preparing Burj Place obituary and busy scratching for refund

Whatever, hali-gali (hali-wali) :cheers:

really?? Last time I was at the Emaar Customer Service Center, they were readily willing to downgrade.
But downgrading to other units at those high prices, is definately daylight robbery, as people would still default. Two days back, I read an article where Mohammad Al Abbar (chairman of Emaar) was saying that prices have fallen by an average of 20%, why don't they reduce their selling prices by the same, in order to kick-start the market?
And why are they forcing people to downgrade at high prices?..
people will still default...the only way to prevent this is to sell at current prices.

they sold out just a few units there , 10-20%/towers.

what do you think they have enough money to build it?

The sad thing is that i liked Burj Place so much that i went back to them a few months after the launch asking them if they had any units left as i was keen in purchasing there (connected to the metro thing!). They told me that they were all sold out, which i was surprised at since price per sft was around 5000+!

Honestly, i do think that Emaar has money to build these things, but they'd rather build with investor's funds than their own. The same applies to Nakheel as well, atleast IMO.

I'm sure almost all of the units purchased in 2008 were purely done for the purpose of flipping, that is why people had bought at high prices as nonone was going to pay the 2nd or 3rd installments. I'm sure Emaar probably knew this, when they were launching. And I think they have to step in now to try and convert these flippers into investors. And they can only do this is by offering good value for money. For e.g. they launched units at AED 5 million in Burj Place, and now that construction costs are down, Emaar can definately build and make money from Burj Place, even if selling prices are brought done to AED 1.5 million for a 1 bedroom unit. I think that is a reasonable price for a developement such as this. At AED 5million, the % of default might be 90% or more.
at AED 1.5 million, they can bring the default % down to atleast 30-40%.
So, assuming there are 200 units, income at AED 5million per unit at 90% default will be AED 100 million
whereas at AED 1.5 million per unit, at 35% default total income will be AED195 million.
It's simple math. They can make more money and encourage people who have already bought to make the next payments just by reducing the prices and still make profit.

I don't know why they are not doing this now. What are they waiting for?

Why has this been moved to the on hold section? Has it been officially confirmed that this is on hold?

^^ I moved it, sorry for the random timing but I forgot about this. Emaar didn't confirm anything but if they are telling investors to change project then I don't think it's good. :)
Plus, the pictures confirm since nothing happened between december and january on the site :yes:

Damn it !! On Hold :bash:

Now that the 3rd payment is now due (Feb 1st) and most (if not all) people didn't pay, there will be some action.

Either Emaar would cancel the project and return the money (or a percentage of it maybe, 70%? ..no idea) or they'll keep the project on hold forever

Which option do you vote for?
Any other course of action that Emaar would do?

One of the best projects in DBD and they are putting it on hold :ohno:. If only they had sold these at more reasonable prices, such a situation would not have developed.

So.. who paid the 3rd instalment?

I doubt if anybody did..

Whats the status of the project, still on hold till further notice?

thats not fair for the investors, they should return their money back :)

ON HOLD

20/February/2009

Burj Place

http://img10.imageshack.us/img10/1387/imresolt67vb6.jpg (http://imageshack.us)

ON HOLD

20/February/2009

Burj Place

http://img10.imageshack.us/img10/1387/imresolt67vb6.jpg (http://imageshack.us)

True. But emaar can't admit it yet.

Unfortunately, no official announcement said the project is on hold. They're probably waiting until all investors move out of the project by downgrading to other available units, maybe then they'll cancel the project.

No information regarding the project is available in rera.

Imre: 20 Feb is Friday, maybe the labour force were off :)

One of the best projects in DBD and they are putting it on hold :ohno:. If only they had sold these at more reasonable prices, such a situation would not have developed.

True, such a pity:ohno:

27/April/2009

Burj Place , The Private Office and Hekma Tower plots

http://i39.tinypic.com/308b0oi.jpg

http://i43.tinypic.com/351e1rl.jpg

The company added that none of the projects it has already launched are on hold. “All the developments are progressing and (are) in line with Emaar’s strategy to complete all commenced projects.”

http://www.khaleejtimes.com/DisplayArticleNew.asp?col=&section=business&xfile=data/business/2009/April/business_April1100.xml

:)

So Burj Place is basically a storage area right now? I'm sure the investors didn't expect that...

Anyone looking forward to credit transfer?

22/May/2009

Burj Place

http://i42.tinypic.com/5jw3mh.jpg

very good progress, palm forest in the basement parking is coming along nicely :cheers:

Sigh, these were one of the best towers in the entire project...

and the best locations at the Downtown as well.

when the metro open at least we will see palms there:)

30/06/09

Burj Place

Almost visible from SZR

http://i44.tinypic.com/157yr6b.jpg

Bizzy, wrong thread.
That's The Private Office (http://www.skyscrapercity.com/showthread.php?t=531596&page=3). Burj Place is on hold.

^^^^Thanks alot mate .:okay:

27/August/2009

Burj Place

http://i29.tinypic.com/10xu7id.jpg

http://i30.tinypic.com/30hsyrn.jpg

GOOD NEWS TODAY I HAVE SEEN WORKERS ON SITE AND PORTACABIN AND PILING MACHINE IT LOOKS THE WORK ON THE PROJECT RESTARTED.....

Thats great news! I always liked this project and thought it was in a good location near the mass transit stop. I hope to see some pictures of it being restarted.

24/01/2011
there is definitely some progress on the site, but I think it is still to early to say whether they restart construction or just use the site for storage/parking
http://1.2.3.12/bmi/farm8.staticflickr.com/7148/6760744343_948c3c9781_b.jpg
Source: http://www.flickr.com/photos/dedelagodasse/6760744343/

If they restart the construction then it will be a welcome development. It was indeed a charming project and a restart of construction will delight all.