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Old February 1st, 2013, 12:36 PM   #31721
True Blue
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Quote:
Originally Posted by TerryPop View Post
As this is the investor bit of the forum....

where do you guys/gals think the market is heading?

There has definitely been a bounce but many properties are still no where near their peak?

For example (these are the ones i know about)

Apartments on the palm that nakheel were selling for 6 million months before the collapse (or between 4 to 5 mill in the secondry market) in 2008 are still in the region of 2.5-3million (marina residences in this case).

Also apartments in Discovery Gardens peaked with mortgages at 1.2 million aed and around 900,000 without a loan facility!!

These are currently just selling for just over 500,000 AED (admittedly still rising)

So..

Is the market going to keep its run and recover to those sorts of levels? is the next few years a definite growth cycle in Dubai property?

Any experiences by you, of 2008 peak prices and where prices are now would be interesting to hear about.

Here's one:

I recall a friend who had a floor of office space in JLT. It was early 2008 and he had a buyer at 1600 aed psf. He didn't make the initial signing of the agreement b/c he was 'too hungover' (he actually told them so)

Eventually they met and he sold, and when the market crashed prices tumbled in JLT to as low as 350 aed psf.

As we waded through the following years of the crisis he would often recall this story and we'd end up in fits of laughter/tears about how crazy the market once was
This is a new phase of the Dubai Property Market and it is now driven by real world market intelligence. In the early years the only information we had on developments were "location" and "developer status", the developer either being an independent private entity or a government owned entity.

This has all evolved now and has grown new shoots. In the examples you refer to above one of the key factors in the suppressed growths is the name NAKHEEL. There is no other reason on earth that Marina Residence on the Palm should be so cheap other than it is developed by Nakheel.

Nakheel now means complete uncertainty and guaranteed surprises, the unwelcome type of surprise. They have the lowest customer satisfaction record and are well known for bully boy tactics. RERA promised they would make them comply with the JOP regulations but have only had limited success to date. Nakheel were also known for having a poor regime of controlling their contractors. They did not pursue quality, had a bad payment record and today many of their developments are plagued with defects.

Emaar on the other hand are seen as being the polar opposite of Nakheel. Their villa and apartment developments are maintaining value and growing well. Their customers are far more content with the services and management of their communities.

The market for well run communities will continue to grow and others will remain stagnant as the residents seek to relocate from their woes.
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Old February 1st, 2013, 01:04 PM   #31722
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Quote:
Originally Posted by Barracuda View Post
I wanna sell my Decora, anyone can suggest a good agent?
What price?
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Old February 1st, 2013, 01:11 PM   #31723
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Could say the same for Dubai Properties who never built the promised beach park / gyms for JBR and are clearly in bed with Empower who charge ridicules amounts for the air-con. I doubt their customer satisfaction survey scores very high.
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Old February 1st, 2013, 01:27 PM   #31724
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You cannot relocate if you paid and there is nothing to show for it...that's where most do not seem to realise as it hasn't happened to them...Those who were lucky to invest and got something completed were plain lucky that's all it was...if the shoe was on the other foot then what? What would you do?...there is no remedy, the laws there are in the making and will never be enforced no matter what!

RERA were to do a lot of things and it all sounded good, but alas all PR stuff or just what the media vamped up...I recall reading something way back where it said "RERA to clamp down on developers"....... this didn't happen and the developer still has the upper hand....RERA are toothless, their RealPoint appointed inspectors are another joke...from screampoint to realpoint! All they do is change their name as they have done nothing to improve...Escrow accounts are still being abused or were never in many cases not enacted when the law was brought in ...this was 2007...it is now 2013...where's all the money gone where projects haven't been completed just "scratched" at with holes in the ground showing, pretending some work commenced making it now difficult for it to be cancelled .....yet Realpoint/RERA approve all this...what ever happened to the construction based plans...all is a joke for those hit hard with being ripped off....RERA also said they would provide a list of cancelled projects, more spin and no action! The CEO needs to be booted for non performance...it's govt and this is what you get...no accountability whatsoever! The lands department is no better they do not respond to any complaints nor does RERA and where was this pro bono scheme they said everyone (all investors) was eligible for...once again a PR exercise to show off but nothing came to any fruition!
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Old February 1st, 2013, 01:40 PM   #31725
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Just had a look...."Buy property at Jumeirah Beach Residence (JBR) and you’ll have it all" <<<<<....All or absolutely nothing is what it says between the lines!! Anything to suck people into believing what they say is the gospel truth!......I didn't think stealing from people was allowed in a country like this...don't they cut hands off...my friend was told in 2007 that you could park cars on the road and not one person would touch them, if they did their hands would be cut off? True or false? So if this applies to vehicles the same should apply to real estate!

http://dubaipropertiesgroup.ae/en/pr...each-Residence
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Old February 1st, 2013, 03:32 PM   #31726
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Quote:
Originally Posted by nirajdisha View Post
Guys Please let me know if anybody wants to Sell STUDIO Apartment in Al Saqran Tower in JLT i am interested to Buy a STUDIO in this Project.
You are an IDIOT who thinks people are stupid and don't realise you work for the developer. You are clearly trying to put positive spin on this scam and the other developments buy this crooked developer.
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Old February 1st, 2013, 03:39 PM   #31727
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Quote:
Originally Posted by Spurs View Post
Could say the same for Dubai Properties who never built the promised beach park / gyms for JBR and are clearly in bed with Empower who charge ridicules amounts for the air-con. I doubt their customer satisfaction survey scores very high.
The biggest factor suppressing property prices at the moment is not the availability of mortgages. Its the liability of the controlling developers.

RERA needs to grant the rights that it promised so that Owners Associations can take control of the communities and Jointly Owned Properties. I am not aware of any freehold developments that have been relinquished by the developer. Hardly freehold under the circumstances.

I am beginning to believe that Dubai will never relinquish control of the properties so they will never be true freehold property.
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Old February 1st, 2013, 05:58 PM   #31728
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not bad at all.

seen them advertised @ 1500 psf.
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Old February 1st, 2013, 06:46 PM   #31729
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GUYS IT IS MANDATORY FOR ALL UNDERCONSTRUCTION PROJECTS TO BE COMPLETED BY 2015 Bcoz of DUBAI WORLD EXPO in 2020.
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Old February 1st, 2013, 06:55 PM   #31730
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Okay then i am giving an open OFFER of AED 650 IF ANYBODY WANTS TO SELL CONTACT ME... AGAIN I AM REPEATING IT IS OPEN OFFER.......... I need STUDIO ONLY.
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Old February 1st, 2013, 07:01 PM   #31731
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Developer is Egyptian Based CRC (part of the world renowned Dorra Group)

• Contemporary Finish, modern, Manhattan style apartments .

• It will be the best in the marina and a better finish than our previous project Botanica. This is Dubai Marina’s first off plan project to launch since 2008!

• West Avenue, Select Group’s 9th Tower in Dubai Marina is currently at the 26th floor of the construction process and the 35 storey residential tower is expected to be at full height in quarter 1 of 2013, the project team are confident of completing one residential floor per week.

• Infinity Swimming Pool with kids pool , Gymnasium , Parking and disabled access , 2 minutes walk from the metro , 5 minute’s walk from JBR , 5 retail Shops and amenities on site , next to Dubai marina mall.

• All Retail Commercial Units have been sold

West Avenue Prchase Procedure and Payment Plan

• Signed Reservation Form

• Passport Copy

• Studios = 50,000 AED res deposit , 1 Bed = 75,000 AED res deposit, 2 bed = 100,000 AED res deposit

• 30% due on Signature of SPA (Sales Purchase Agreement) - 14 Days from reservation fee/form to SPA

• 30% due 6 Months from when the contract is executed

• 40% due on completion – December 2013 (less reservation fee paid)


Advertised here at 1.7m for 1286 sq ft. but probably you need to take off 5% of that size + the car park space

http://www.propertyfinder.ae/en/buy/...na-851803.html
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Old February 1st, 2013, 07:53 PM   #31732
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Quote:
Originally Posted by jeetha View Post
not bad at all.

seen them advertised @ 1500 psf.
Stop looking at the furniture Lady

Manhattan style = very small apartments near busy roads.

The only thing I like is the ensuite shower only room, well laid out and lit. The bath and separate wet room is stupid. Bad enough cleaning a bath after taking a bath but having to clean it after taking a shower is just bonkers.

Lighting looks totally inadequate in all areas. Not sure a kitchen/dining area that resembles Wagamamas appeals to me. Maybe appeal to young upwardly mobile squad. Kitchen is certainly minamalist and small.

I'm guessing the wall features are not standard spec and just the interior designers license to thrill.

December 2013??? Seriously doubt it will be close.

CRC is not the Developer, think that has been miss quoted. CRC is a contractor who doesn't have a much better reputation than DCE. They left lots of defects in Dorrabay and never returned to repair or complete them. Cayan have had to employ a separate contractors to finish/repair some of the stuff. Other items remain unfinished today.

Prices are not realistic for 2nd row development from a grief ridden developer with a track record of deceit and failure to honour promises. Caveat emptor.
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Old February 1st, 2013, 08:12 PM   #31733
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Please help me to know know you got your refund we are stuck fighting as well for 2 apartments to this day with no luck. my username is ninaschon but am of no relation and I want my $$$ back. Please help me.
Thanks and regards.
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Old February 2nd, 2013, 07:06 AM   #31734
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Which will be irrelevant if Dubai doesnt get the expo end of this year.
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Old February 2nd, 2013, 12:31 PM   #31735
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Quote:
Originally Posted by Spurs View Post
Could say the same for Dubai Properties who never built the promised beach park / gyms for JBR and are clearly in bed with Empower who charge ridicules amounts for the air-con. I doubt their customer satisfaction survey scores very high.
You are so right.
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Old February 2nd, 2013, 03:58 PM   #31736
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Quote:
Originally Posted by True Blue View Post
Stop looking at the furniture Lady

Manhattan style = very small apartments near busy roads.

The only thing I like is the ensuite shower only room, well laid out and lit. The bath and separate wet room is stupid. Bad enough cleaning a bath after taking a bath but having to clean it after taking a shower is just bonkers.

Lighting looks totally inadequate in all areas. Not sure a kitchen/dining area that resembles Wagamamas appeals to me. Maybe appeal to young upwardly mobile squad. Kitchen is certainly minamalist and small.

I'm guessing the wall features are not standard spec and just the interior designers license to thrill.

December 2013??? Seriously doubt it will be close.

CRC is not the Developer, think that has been miss quoted. CRC is a contractor who doesn't have a much better reputation than DCE. They left lots of defects in Dorrabay and never returned to repair or complete them. Cayan have had to employ a separate contractors to finish/repair some of the stuff. Other items remain unfinished today.

Prices are not realistic for 2nd row development from a grief ridden developer with a track record of deceit and failure to honour promises. Caveat emptor.
TB, you have done it once again! These were exactly my sentiments too. Purchase from Select? As they say 'once bitten, twice shy.'

Last edited by torchowner; February 2nd, 2013 at 03:59 PM. Reason: ..
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Old February 2nd, 2013, 05:34 PM   #31737
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Quote:
Originally Posted by dime01 View Post
heard that this project is been canceled from land dept and now land is for auction... any once has any concrete news
do you have this information from the land department ?
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Old February 2nd, 2013, 08:20 PM   #31738
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Quote:
Originally Posted by nirajdisha View Post
GUYS IT IS MANDATORY FOR ALL UNDERCONSTRUCTION PROJECTS TO BE COMPLETED BY 2015 Bcoz of DUBAI WORLD EXPO in 2020.
B-U-L-L-S-H-I-T!

This project will NEVER be finished by 2015. It has taken a full year to cast 6 floors and do nothing else. Wakey Wakey!!
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Old February 3rd, 2013, 07:30 AM   #31739
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Dubai real estate sector has recorded a price increase of up to 30 percent in the premier locations during 2012, according to Hamptons MENA, the premier property services company.

source: http://arabia.msn.com/news/business/...cord-growth-h/
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Old February 3rd, 2013, 11:31 AM   #31740
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Quote:
Originally Posted by v8_ View Post
Dubai real estate sector has recorded a price increase of up to 30 percent in the premier locations during 2012, according to Hamptons MENA, the premier property services company.

source: http://arabia.msn.com/news/business/...cord-growth-h/
Yeah sale,our man here has done well there....
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