#PROJECT: JUMEIRAH PARK (previously known as JV North)

[share.info]

Hi 5 Bed owners
Please share the information on your handover notices when received from Nakheel

[ash_ak]

Originally Posted by mansouqa

Good Day JP's

I heard that 3BR legacy small are going for 2.6 to 2.9mil. is that true?

appreciate a reply.

Regards.

If you goto propertyfinder.ae 3br small and large are available starting at 2.2 Million DHS. In general, there are quite a few posted for 2.3-2.4 range, While this may seem low, back in Jan, there were listings for 1.95-2.1 Mill. So there is an uptick, of course, how many deals have been stuck and at what price is still a bit hazy.

[DUBAI INVESTOR]

Nakheel'a Jumeirah Village was handed over using portable generators for the first 3-6 months until DEWA eventually hooked up.

[kxs]

Last week I had a cash offer of 2.6M, for my small 3-Bed regional. I am considering it, but I believe when the hand over is done, a villa like could be sold for 2.8M.

[Imre]

Originally Posted by nagshah

GONGRATULATIONS, Today I was told that the handover notices for the 5br villas went out from Nakheel

What is the handover date?

Just wondering they will do the really handover or will have similar story as Jumeirah Heights?

[dubai-invest]

This has reference to the earlier comment about offers received for 3 BR. If you track prices over the last several months property prices in 3 BR, 4 BR and 5 BR in JP have all gone up steadily.

Given the locational advantages of villas in JP compared to villa complexes in other locations [/B](closest to Sheikh Zayed Road, closest to the metro station, closest to the one of only two metro parking facilities, closest to a growing business hub ie JLT[/B]) it is only a matter of time that JP villas will experience steeper price increases.

[DXBFan79]

Originally Posted by dubai-invest

This has reference to the earlier comment about offers received for 3 BR. If you track prices over the last several months property prices in 3 BR, 4 BR and 5 BR in JP have all gone up steadily.

Given the locational advantages of villas in JP compared to villa complexes in other locations [/B](closest to Sheikh Zayed Road, closest to the metro station, closest to the one of only two metro parking facilities, closest to a growing business hub ie JLT[/B]) it is only a matter of time that JP villas will experience steeper price increases.

I agree. Considering all the factors that you have mentioned & couple that with the size of plots in JP, I would place JP in the comparitive price bracket below Jumeirah Islands & above Meadows.

6 months after the handover one should expect a price increase & a substantial increase IF they handover with a community centre & the club..........JMHO.

[kxs]

I own a property in JP myself, and as much as I would like to agree with you, I still cannot see JP prices going above that of Meadows.

The quality of living has nothing to do with being next to Jumeirah Lake, or metro. More than anything else the community and green areas surronding your villa adds to the quality of life. JP falls short substantially on these factors. Large plot of land is nice, but maintenance of these large backyards is quite costly.

My view is that JP prices per square foot would stabilize at about 10% to 15% below Meadows at completion. Right now Meadows villas are being advertised at AED 1,200 per SqFt on average. But supply of JP villas will push down prices of meadows villas. I don't know how much this price contraction will be, but let's assume that to be 10%.

So my estimate for price per square foot on these villas is between AED 900 to AED 950 at completion.

[DXBFan79]

Originally Posted by kxs

I own a property in JP myself, and as much as I would like to agree with you, I still cannot see JP prices going above that of Meadows.

The quality of living has nothing to do with being next to Jumeirah Lake, or metro. More than anything else the community and green areas surronding your villa adds to the quality of life. JP falls short substantially on these factors. Large plot of land is nice, but maintenance of these large backyards is quite costly.

My view is that JP prices per square foot would stabilize at about 10% to 15% below Meadows at completion. Right now Meadows villas are being advertised at AED 1,200 per SqFt on average. But supply of JP villas will push down prices of meadows villas. I don't know how much this price contraction will be, but let's assume that to be 10%.

So my estimate for price per square foot on these villas is between AED 900 to AED 950 at completion.

Let's see........time will tell. FYI, I own a 4 Bed Regional villa & have recently turned down quite a few offers of cash buyers @ AED 900 psf net to me.

[jp4v]

Originally Posted by DXBFan79

Let's see........time will tell. FYI, I own a 4 Bed Regional villa & have recently turned down quite a few offers of cash buyers @ AED 900 psf net to me.

i have been getting offers since around mid feb and they are steadily increasing. Would be nice to get handover notice or some communication from Nakheel

[dubai-invest]

Originally Posted by kxs

I own a property in JP myself, and as much as I would like to agree with you, I still cannot see JP prices going above that of Meadows.

The quality of living has nothing to do with being next to Jumeirah Lake, or metro. More than anything else the community and green areas surronding your villa adds to the quality of life. JP falls short substantially on these factors. Large plot of land is nice, but maintenance of these large backyards is quite costly.

My view is that JP prices per square foot would stabilize at about 10% to 15% below Meadows at completion. Right now Meadows villas are being advertised at AED 1,200 per SqFt on average. But supply of JP villas will push down prices of meadows villas. I don't know how much this price contraction will be, but let's assume that to be 10%.

So my estimate for price per square foot on these villas is between AED 900 to AED 950 at completion.

"Location, Location, Location' It's the number one rule in real estate, and it's often the most overlooked rule. It means identical homes can increase or decrease in value due to location. One cannot change the location of a property. That is the reason why the JP villa complex with its fantastic locational advantages has a better chance of high price appreciation over time. Presumably the developers and theresidents will take care to ensure that the property is landscaped well and maintained well.

[ollitrade]

nice discourse. but JP will never ever reach a higher value for the villas than Meadows. Why: well, this will be a construction site the next 10 years or so. no parks, zero infrastructure, nothing. perhaps in 5 to 7 years they finish the promised schools, shopping mall etc. I doubt that.

and the worst thing is: nakheel is the developer, meaning: ridiculous high service charge, service charge increase from on year to another of 100% and more.
on top: PDC (also just increase of 150%).

And if you think you can form your OA:
Nakheel falls under the protection of a special Decree ( Decree 22 or 21 i guess), which simply means that OA in residential villa developments are not allowed, that RERA is NOT responsible etc.

[dubai-invest]

Originally Posted by ollitrade

nice discourse. but JP will never ever reach a higher value for the villas than Meadows. Why: well, this will be a construction site the next 10 years or so. no parks, zero infrastructure, nothing. perhaps in 5 to 7 years they finish the promised schools, shopping mall etc. I doubt that.

and the worst thing is: nakheel is the developer, meaning: ridiculous high service charge, service charge increase from on year to another of 100% and more.
on top: PDC (also just increase of 150%).

And if you think you can form your OA:
Nakheel falls under the protection of a special Decree ( Decree 22 or 21 i guess), which simply means that OA in residential villa developments are not allowed, that RERA is NOT responsible etc.

Nakheel is, by no means, planning to get out of business. It is in their interests to complete JP villa complex as quickly as possible. At best it will be a year from now. They are also likely to relaunch the stalled part of the project in JP at higher prices. Say what you may Nakheel developments, including Palm Jumeirah and Jumeirah Islands are all faring brilliantly.

[sicbaldi]

All, any news on the hand-over, please?

[smtk]

There is a rumor that the handover is now being delayed again till September. However if anyone has bought credit notes and used them to pay off out standings you will have had to sign a document. This document (at least in my case) absolves Nakheel of any liability for the delays up to a specific date. This date is 30 June 2012. while the penalty or consequence of Nakheel delay beyond that date is not spelled out, it is a stick. Please check your documentation and see if you can find such a date.

[share.info]

Hi Nagshah
Please speak to your contacts in Nakheel regarding the Delay in handover
Thanks

[share.info]

Email I received from Nakheel today

Dear Sir

We thank you for your email.

We wait for the utility connections to be completed in order to release the handover notices for the properties. We anticipate this to be completed in a month from now.

We hope to write to you shortly.

[Jumeirahpark]

Dear JP Owners,

I live in Dubai & have been waiting for a long time now for our 5 bed's to be handed over. I went to site yesterday & am pleased to say it looks like the power is on! (exterior lights anyway). Furthermore, I also saw cleaners in yellow overalls inside & outside the villas. When I stopped a contractor's car I was informed they were cleaning the units in anticipation of handover next month.

Furthermore, on speaking to Ann Varughese at Nahkeel, she hopes letters will go out shortly.

Can I suggest we all keep the pressure on Nahkeel and finally make a push for the keys to the homes we have all been patiently waiting for.

[Finality]

Originally Posted by Jumeirahpark

Dear JP Owners,

I live in Dubai & have been waiting for a long time now for our 5 bed's to be handed over. I went to site yesterday & am pleased to say it looks like the power is on! (exterior lights anyway).

Can you drive around the community yet? I'm tempted to check on the progress of my 4BR.

[jpcharlie]

Depends where you want to drive.... Today the first roundabout from sz rd enterance was totally impassable, tomorrow maybe different. lots of work going on. From what i can see the package one 5 beds must be weeks if not days away from handover now.. the security at the gate told me that the owners of the 5 beds are allowed in to see their properties and there was also a notice there to that effect..