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Al Reem Island A natural island off the coast of Abu Dhabi island being developed by Sorouh (Shams Abu Dhabi), Reem Investments, and Tamouh



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Old October 13th, 2008, 10:31 AM   #301
docc
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What do you guys think of Hydra Executive Office towers? I can purchase a whole floor in the resale market (7744 Sft) at roughly 2000/Sft and if i play hardball, maybe even 1950/Sft. OR was 1720/Sft.

My agent told me that construction has started on this project. This is on a 40/60 payment plan btw. Also, what do you reckon the price will be towards completion? The agents are bullish saying that due to the shortage of commercial space, it should easily touch 3500-4000/Sft in about 2 years. How realistic is that? If it is, then i would be effectively doubling my investment in less than 2 years which would be fantastic.

Lastly, assuming that this is true, how easy would it be to sell just before completion?

Oh, and i found a big map of Al Reem Island; don't know if you guys have seen it or not. I have a more high rez version which is pretty detailed too if anyone is interested. Please delete it if you already have:

[IMG]http://i37.************/11t7uxu.jpg[/IMG]
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Old October 13th, 2008, 11:16 AM   #302
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I've uploaded it to sendspace; even though its only 2.2 MB but its pretty detailed. Here you go:

http://www.sendspace.com/file/ptmsan
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Old October 13th, 2008, 11:23 AM   #303
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Btw, can someone tell me how to get to Al Reem Island from Dubai. I plan to go there to take some pictures and would like some accurate directions.

Thanks.
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Old October 14th, 2008, 12:29 AM   #304
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Hey Docc, great map of Reem Island - thanks. Just downloaded a copy :)

Dont know anything about Hydra Executive Towers but have you checked out Addax Tower? There are resales for commercial units going for as little as AED1800 with 30/70 payment plans, which I think is very good. Although I think its only leasehold and I'm not sure if its in a freezone, which could have a big effect on demand. Maybe someone with more knowledge than me will be able to confirm?
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Old October 14th, 2008, 08:16 AM   #305
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Hi Docc and Smokeey

I've put in my two cents to this discussion on the Abu Dhabi Investment & Property Thread. I think that's where the moderators wanted us to discuss investments.

http://www.skyscrapercity.com/showth...4#post26565584
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Old October 15th, 2008, 12:59 AM   #306
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Ah yes - good point Makerian. Sorry Mods!
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Old November 6th, 2008, 09:34 AM   #307
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Al Reem Island works on track

on Thursday, November 06, 2008

A quarter of the infrastructure that is being built at a cost of Dh3.5 billion on Al Reem Island has been completed, Bunya CEO Tariq Hatim Sultan has revealed.

Bunya is the regulatory authority and infrastructure developer for the island off the coast of the capital where massive residential, business and commercial projects are to be built.

The infrastructure is being developed in three phases. The first stage – costing Dh1.2bn and including facilities for the Sorbonne University, Marina Square and Sorouh Towers projects – is due to be completed next September.

Bunya has started work on preliminary projects for the Dh1bn second phase, which is due to be completed in 2012.

Sultan said the third phase would include provision for future projects by Tamouh Investments, Sorouh Real Estate and other developers.

A Dh1.3bn tender for a sewerage project has been announced and the winning company will be revealed at the beginning of 2009. About the impact of the global financial meltdown on Bunya's projects, Sultan said: "There is no noticeable or real effect on our projects on Al Reem Island."


http://business24-7.ae/Articles/2008...0b5fa8978.aspx
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Old December 10th, 2008, 05:54 AM   #308
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Hydra Blue, Al Reem Island, Abu Dhabi: Launch

[IMG]http://i35.************/s6rjo2.jpg[/IMG]

http://www.dreamhomesww.com/index.cf....cfm?promo=169
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Old December 10th, 2008, 09:31 AM   #309
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^^ They're launching something in this economic climate?

Smart? Not.
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Old December 10th, 2008, 09:42 PM   #310
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Quote:
Originally Posted by docc View Post
^^ They're launching something in this economic climate?

Smart? Not.

Hydra is not really depending on money from selling anything so they might as well launch it now and take advantage of cheaper construction costs I guess..
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Old December 13th, 2008, 10:05 AM   #311
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May be they can use this money to finally start building Hydra Village
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Old December 13th, 2008, 03:49 PM   #312
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Quote:
Originally Posted by dubaigreen View Post
May be they can use this money to finally start building Hydra Village
No worries, they like the Village concept..

"Hydra Properties, the UAE-based international property developer, has announced plans to unveil Hydra Village Sharjah, the developer's latest foray into the UAE real estate market, at the Acres Middle East Exhibition which will take place on December 15 -18, 2008 at the Expo Centre Sharjah."
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Old December 13th, 2008, 10:02 PM   #313
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I like the cynism :-) (although with a sour smile)
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Old December 18th, 2008, 09:04 PM   #314
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Are projects re-selling on Al Reem Island? What are the best deals?
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Old December 18th, 2008, 09:48 PM   #315
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The best deals start at 1500 per sqft, within Marina Square, many towers will be ready by end 2009 in that area (one of the first area´s ready on Al Reem). I would say, buy to let seems the best strategy now (if you consider the housing situation in AD)
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Old December 19th, 2008, 12:07 AM   #316
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Well you can get good resale deals from me! I am selling Reem Island from 1500psf and Aldar's Raha Beach for 1300psf. I am not in a hurry to sell - the units are around 1500 sqft in size and are 2 + 1 for Reem Island (2009 and 2010 completion) and 2 bedroom fo Raha Beach (Muneera 2010 competion). Send me a message if interested.

Rents in Abu Dhabi are around:

studios at AED 70,000
1 bedroom AED 110,000 (highest 150k)
2 bedroom AED 150,000 (highest 180k)

There won't be much of a fall in rentals as there is still a chronic housing shortage, and you can count the number of developments on your fingers.

call me on 07984231485

Last edited by sayenforever; December 19th, 2008 at 12:17 AM. Reason: add number
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Old December 27th, 2008, 11:45 AM   #317
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So thats 1500/sqft resale.....

I bought at 1824/ft and am selling at 1824/sqft. I need the cash for an urgent matter. Alot of people told me Al Reem Island is not affected as Dubai and that the property market is stable there. There is a reduction in price yes but its not as desperate as Dubai.

Abu Dhabi is definately stronger and can sustain the infrastructure of the island.

I am just wondering ... will a 0% premium get a sale at the moment considering its a great property at the entrance of Al Reem Island??

I need advice thanks.

Inv.
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Old December 27th, 2008, 01:50 PM   #318
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Nothing much seems to be selling in Abu Dhabi either. I've had a Tameer Tower on sale for months at 1750 psf and no interest whatsoever. Edwards and Towers either aren't updating their website or haven't had a sale there in weeks.
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Old December 27th, 2008, 04:31 PM   #319
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I have my 1bed apartment @1675 from sorouh at cost price advertised with all leading agents not even a single enquiry.
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Old December 27th, 2008, 05:19 PM   #320
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The off-plan market is dead everywhere...But existing homes goes dearly.
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