#UNDER C: KENSINGTON ROYALE, 18F Res (Sports City)

[avion1]

I have also spoken to Richa this morning, according to her the construction will be starting within 2 weeks.

[worried1]

Originally Posted by avion1

I have also spoken to Richa this morning, according to her the construction will be starting within 2 weeks.

That is the beauty of MED.

Zeina said construction started in April 2007
Naz UK says "ground broken" June 2007
Avion1 thru Richa says construction starts in 2 weeks.


Come on guys someone here is BS.

[worried1]

Regarding our Sport City Project, Kensington Royale the latest update is as follows:



We have finally received land from the master developer which will enable us to start the construction on the plot within the next few weeks. Yet again there has been a slight delay caused by the master developer putting the infrastructure in place but that has now been sorted out. The construction is due to start very soon as our engineers are already on the site. All plot limits have been established and they have already started to cast the foundation of fencing which is already in process. Please be informed that within three weeks time the shoring and pilling works will be starting. The anticipated completion is now end of 2008.



I hope above is in order and please get in touch with our Customer Care Department for any further assistance required on

Ms. Sanura on Sanura@med.ae

Ms. Nusrat on Nusrat@med.ae

[avion1]

Originally Posted by worried1

Regarding our Sport City Project, Kensington Royale the latest update is as follows:



We have finally received land from the master developer which will enable us to start the construction on the plot within the next few weeks. Yet again there has been a slight delay caused by the master developer putting the infrastructure in place but that has now been sorted out. The construction is due to start very soon as our engineers are already on the site. All plot limits have been established and they have already started to cast the foundation of fencing which is already in process. Please be informed that within three weeks time the shoring and pilling works will be starting. The anticipated completion is now end of 2008.



I hope above is in order and please get in touch with our Customer Care Department for any further assistance required on

Ms. Sanura on Sanura@med.ae

Ms. Nusrat on Nusrat@med.ae

I hope you are less worried now.

[worried1]

Originally Posted by avion1

I hope you are less worried now.

I dont know if you own anything with Kensington Royale and MED, we have been hearing this story for the last 1 year.

[avion1]

I do, I have 2 aparments in Red Residence and 2 in Arabian Crowne.

[worried1]

Received from MED, today. Same news as from months ago!!!

Red Residence and Kensington Royale



We have finally received the land from the master developer, which will enable us to start the construction on the plot within the next few weeks. Yet again, there has been a slight delay caused by the master developer putting the infrastructure in place, but that has now been sorted out.



The construction is due to start very soon as our engineers are already on the site. All plot limits have been established, they have already started to cast the foundation of fencing, which is already in process, and they are projected to finish by next week. Please be informed that within two weeks time the shoring and piling work will be starting. The anticipated completion is now end of 2008.

[victormeldrew]

Hi Folks - just found you and joined. Bought into KR fairly recently and have had my eyes opened by your posts. With a newly aquired scepticism, I'll share the latest offering that I've received from MED:

"I am pleased to inform you that construction work has already started in Dubai Sport City.

The fencing has been completed in our project Red Residence and shoring started as well.

As soon as the shoring works are completed the machines will be mobilized to our Kensington Royale Plot as the surveying work has already taken place.

An approximate gap of four weeks is expected between the completions of our two projects in Dubai Sport City.

The anticipated completion date of the podium will be first quarter of 2008.

I will keep you posted of the updates.

Sanura Abdalla
Customer Service Email: sanura@med.ae"

[worried1]

Originally Posted by victormeldrew

Hi Folks - just found you and joined. Bought into KR fairly recently and have had my eyes opened by your posts. With a newly aquired scepticism, I'll share the latest offering that I've received from MED:

"I am pleased to inform you that construction work has already started in Dubai Sport City.

The fencing has been completed in our project Red Residence and shoring started as well.

As soon as the shoring works are completed the machines will be mobilized to our Kensington Royale Plot as the surveying work has already taken place.

An approximate gap of four weeks is expected between the completions of our two projects in Dubai Sport City.

The anticipated completion date of the podium will be first quarter of 2008.

I will keep you posted of the updates.

Sanura Abdalla
Customer Service Email: sanura@med.ae"

Welcome to our misery. Did they give a completition date.

Which unit did you buy?

[malec]

Completion 2008 is bullshit. If they just started digging now then by the end of 2008 they might just be out of the ground

[avion1]

some construction related details are available for Kensington Royale residence at the following website:

http://www.dubaiproperties4sale.com/

there a pictures also available:

http://www.dubaiproperties4sale.com/red-residence.htm

[worried1]

Originally Posted by avion1

some construction related details are available for Kensington Royale residence at the following website:

http://www.dubaiproperties4sale.com/

there a pictures also available:

http://www.dubaiproperties4sale.com/red-residence.htm

Avion 1 thanks, but I did not see any info, over and above what has already been posted on this site.

Perhaps Imre can take some pictures when he gets a chance

[victormeldrew]

HI Worried1,
We bought one of the studios - 306 to be exact. We originally intended to buy in Red Residence but the studio we wanted turned out to be more expensive than originally quoted so we moved over to KR. It seems we've been luckier than some because we only came on board in May/June this year. We were obviously given the 'buy now coz we'll be breaking ground next week and prices will go up' crap at the time. Saw your picture of the 'work commenced' on the Red Residence site Avion1 - do you reckon MED just had a sign made and stuck it next to a convenient hole in the ground for the photo? (I'm not being serious - I hope!)

[worried1]

Originally Posted by victormeldrew

HI Worried1,
We bought one of the studios - 306 to be exact. We originally intended to buy in Red Residence but the studio we wanted turned out to be more expensive than originally quoted so we moved over to KR. It seems we've been luckier than some because we only came on board in May/June this year. We were obviously given the 'buy now coz we'll be breaking ground next week and prices will go up' crap at the time. Saw your picture of the 'work commenced' on the Red Residence site Avion1 - do you reckon MED just had a sign made and stuck it next to a convenient hole in the ground for the photo? (I'm not being serious - I hope!)

Hello Victormeldrew:

Welcome to misery. KR told us all studios were sold out in 2007.

Cube is also marketing us to buy, Prices going up etc, but we have decided to stay out of Dubai, until there is some law and order and we can get builders to fulfill their obligations.

I know Dubai has to improve, but it may take time.

[victormeldrew]

Originally Posted by worried1

Hello Victormeldrew:

Welcome to misery. KR told us all studios were sold out in 2007.

Cube is also marketing us to buy, Prices going up etc, but we have decided to stay out of Dubai, until there is some law and order and we can get builders to fulfill their obligations.

I know Dubai has to improve, but it may take time.

Yes, it will improve I'm certain. With all this development going on, its crucial to get in at the right location so I'm also confident that KR (and Red R) will prove to be a good investment. But as you say, it will take time and I agree that its a good time to take a step back from further investment in Dubai which is currently rather overheated and wait until things settle a little.
We had a good look around the region and were very impressed by and actually put some money into the Al Hamra, The Royal Breeze project in Ras Al Khaimah. The Ruler has a major stake in the development company, RAK ceramics and owns a cement factory - raw materials shouldn't be too much of a problem! Investing there is a different concept to that of in Dubai itself but well worth a look

[victormeldrew]

[QUOTE=worried1;15673773]Hello Victormeldrew:

Welcome to misery. KR told us all studios were sold out in 2007.



Sorry Worried1, I meant to say in prevoius post:
We originally put a deposit on a studio in RR only to find that the salesman had done his maths wrong on the floor area and hence wanted to put the price up. We kicked up a fuss and he 'found' us a studio in KR the same price as the original. This was on the market because the owner had upgraded to a 1 bed flat (or so he said )

[worried1]

Originally Posted by victormeldrew

Yes, it will improve I'm certain. With all this development going on, its crucial to get in at the right location so I'm also confident that KR (and Red R) will prove to be a good investment. But as you say, it will take time and I agree that its a good time to take a step back from further investment in Dubai which is currently rather overheated and wait until things settle a little.
We had a good look around the region and were very impressed by and actually put some money into the Al Hamra, The Royal Breeze project in Ras Al Khaimah. The Ruler has a major stake in the development company, RAK ceramics and owns a cement factory - raw materials shouldn't be too much of a problem! Investing there is a different concept to that of in Dubai itself but well worth a look

I looked at the skyscrapercity blog for royal breeze, and found the last entry sept 2007. Thanks for the info, but with the issues at KR, JLT etc we will just wait

[Doctor_UK]

hold tight boys as this is a very good long term investment. I bought a 1br (1605) 01 year back and since then i have been evaluating the pros and cons. the good points are

1. you dont have to worry about rentals (its a big headache - beleive me). rental guarantee will be an important factor in the coming days when thousands of apartments will be available to let.

2. good location within DSC as its very close to the stadiums and a stone throw distance from the mall

3. MED (bin laden group) has a very good reputation world wide (in construction, i mean ). i went to their office while i was in dubai and they were helpful.

4. its not a very tall building and should not take long to complete once the construction starts (i agree sept 2008 is unrealistic and we are looking at mid 2009)

5. no headache of furnishing it after the comletion. the problems others are having once their property is complete can be appreciated if you go through the other forums

6. DSC itself is of international reputation and capital appreciation will be good once the its up and running .







...

[worried1]

Originally Posted by Doctor_UK

hold tight boys as this is a very good long term investment. I bought a 1br (1605) 01 year back and since then i have been evaluating the pros and cons. the good points are

1. you dont have to worry about rentals (its a big headache - beleive me). rental guarantee will be an important factor in the coming days when thousands of apartments will be available to let.

2. good location within DSC as its very close to the stadiums and a stone throw distance from the mall

3. MED (bin laden group) has a very good reputation world wide (in construction, i mean ). i went to their office while i was in dubai and they were helpful.

4. its not a very tall building and should not take long to complete once the construction starts (i agree sept 2008 is unrealistic and we are looking at mid 2009)

5. no headache of furnishing it after the comletion. the problems others are having once their property is complete can be appreciated if you go through the other forums

6. DSC itself is of international reputation and capital appreciation will be good once the its up and running .







...

Doctor UK, all good points except that this is a hotel/5 star service appartment, so I dont think the competition is the rental market.

I am not sure if MED has the management depth to run a hotel profitably for the actual owners of the appartments.

That is what will determine the long term price potential of KR; the price will be dependent upon the profitability of the rooms.

[Doctor_UK]

i agree with your points

the competetion is not the rental market... this is what i wanted to say as well... that thank God we will not be competing with the future dubai rental market, which in 2-3 yrs time may become very challenging due to over supply

MED have chosen BRIDGESTREET for hotel management. this is a well known name in UK and USA to cater for serviced apartments.

http://www.bridgestreet.co.uk/Home.htm

I believe that serviced apartments will be in high demand in DSC due the round the clock sporting events and it's close proximity to Dubailand




...