#PROJECT: AL REEF VILLAS (Shahama)

[GCC_RE_Analyst]

Thanks markgbp,

As you say the Al Reef Villas are not on the flightpath, unlike Uptown Mirdif is in Dubai, so the windows here probably won't shake, as they do there.

And of course, the new runway isn't really at full utlisation at the moment.

But at less than 1 kilometer from the landing strip the Arabian Villas in particular will suffer from *some* noise pollution - around than 50-70 decibels, I suspect. (probably what I suffer, living over the Shekh Zayed Road). A concern however, is their plan to allow night flights.



ADAC plan to grow passengers from 7 million to 40 million in about 5 years (by comparison Dubai Airport handles about 34 million currently and Heathrow handles under 70 million.)

So given that Dubai has about 5000 weakly flights, which is 10,000 landings/takoffs, you might expect a similar volume here in about 2-3 years time. As the Midfield Passenger Terminal (due 2010) comes online and the Cargo Terminal too expect near constant take-offs and landings - and through the night (see below) :

The new runway, which cost Dh1 billion (US$270m), is part of a Dh25bn (US$6.8bn) expansion that includes the building of Terminal 3 and a 100-metre air traffic control tower. By the end of 2011, a 550,000 sq/m midfield terminal is scheduled to be complete. It will eventually bring passenger capacity to 40 million a year.
The new runway can now be used for daytime flights and is expected to accommodate night flights in the first quarter of next year.

Comments?

regards,

GCC_RE_Analyst

[GCC_RE_Analyst]

[speculator]

qle

[must7]

I think the living area of the 3 bedroom is not so well planned, I mean the middle room on the top floor is not really livable. I would count it as a study or store room.

The real good ones are the 4 bedroom villas, they are spacious and worthy of the purchase price.

[dubaiguy7]

Hi guys, can someone tell me more about what they feel will happen with rentals in Abu Dhabi over the next couple of years and their feelings on the prices/ and prospects of rental dmand in AL REEF area.

I live in Dubai but own a 5 BED Med style on the 60/40 payment plan so I have no stress on payments. Currently trying to work out whether to sell or hold and rent or even live in it myself and get out of Dubai for that matter.

please p.m me if interested to buy and I will be happy to discuss figures.

cheers DG7

[hessam]

Hi all,

I have few questions regarding the project so I really appreciate if somebody can help me with what u know.

1. What is the expected completion dates for Desert and Arabian communities? which is first?

2. Is finance being offered ? How much ? and who are lenders?

3. I also wonder if anybody knows what are the prevailing rates per sqft or the price of 2br and 3br villas?

Kind Regards,
Haitham Essam

[DUBAI INVESTOR]

I have a 4 bed financed Desert style and been told to expect completion towards the end of 2009. While it was trading at AED3.3 mil before "the crash" its now at AED2.1 mil (source, The Specialist Real Estate Agency ). I will hold on to it until closer to completion betting on appreciation due :

1. Severage housing shortage in Abu Dhabi
2. LTV improving, banks starting to lend at 80-90 % again

I am fairly sure it will rent fairly easy too should I decide not flip it. Just my five cents...

Haitam, I think most banks in UAE will lend you against this project but only at maybe max 70 % due credit crunch...

[must7]

Dubai Investor : I agree with you that the 4 bedroom villa prices have gone down to 2.1million, as I too own one.

Regarding lending I think Al Wasaf (UNB Islamic lending), Al Noor Bank, etc. are doing financing of the above mentioned project.

From what I understand the First phase might even be completed by June 2009 .. Hence, let's see what happens next.

[dubsolos1]

Has anybody thought of the air-pollution from kerosene?

[Deep123]

Originally Posted by dubsolos1

Has anybody thought of the air-pollution from kerosene?

Its all a myth, I used to live under the flight path at London Heathrow and it was never a problem. My favourite sound was around 10 am and 6pm - Concorde!

By the way, I have been offered a 3 bed for AED 1.55M, I'm seriously looking in to buying a 3 bed in the Arabian community if construction is on schedule as suggested. If this launches in June 09 it will be one of the hotspots for both end users and rental market. I'm very excited - has anyone been to the site and seen the show house??

[must7]

Although I have not been personally to the site but a person did visit & according to him scores of construction workers are working on the Manazel project

Also from the air, whenever I am going to Qatar I see several tower cranes working on the manazel project, hence, I would not not believe the First phase being surely out by September 2009.

[markgbp]

Originally Posted by must7

Although I have not been personally to the site but a person did visit & according to him scores of construction workers are working on the Manazel project

Also from the air, whenever I am going to Qatar I see several tower cranes working on the manazel project, hence, I would not not believe the First phase being surely out by September 2009.

Handover of the 1st phase Arabian in in June 2009. This has been confirmed by Manazal in writing. Desert is end 2009 and the other phases end 2010.

Tanweel etc. are lending on this project as I just ontained a morgage with them. Bearing in mind these villas will rent for 300-400K per each I think it exciting to move ito your own place in 4 months and save a huge amount of rent. For those who have bought recently for a buy to let, they much be pinching themselves at being able to get 20% rental yeild per year!

[kedhar]

Hi,

I just hit upon this forum and thank god i have found like minded people...i own a 2BR in Arabian type. Looks like it will be ready for handover by June 2009. Can any of you help me in clearing some doubts...

1. When they say handover, will all other facilities be ready by then...i mean grocery store, roads within the community, swimming gym etc etc? This will have a direct impact on rentals.
2. What are the rentals that can be realistically expected for a 2BR?
3. What are the good rental agencies in Abu Dhabi that would help me with getting a tenant?
4. If anyone has been to the site, how big are the approach roads? Heard the approach roads are also highways, true?

Thanks

regards

[Deep123]

I very much doubt that there will be any infrastructure besides access roads to and from the main road. Swimming pools and grocery stores will be very unlikely as there is still considerable work continuing, someone correct me if I'm wrong.
An average 2 bedroom apartament in downtown Abu Dhabi is around AED 160,000 per annum. As there are hardly any decent villas I suspect you can expect to achieve at least AED 200-250K per annum on a 2 bed villa. There are some reputable agencies in town, try betterhomes for starters.

I'm planning a site visit next week, although I've been informed you can't even visit the showroom anymore. I'll take my chances and see how it goes, will keep you posted.

Knowledge is Power
Deep

Originally Posted by kedhar

Hi,

I just hit upon this forum and thank god i have found like minded people...i own a 2BR in Arabian type. Looks like it will be ready for handover by June 2009. Can any of you help me in clearing some doubts...

1. When they say handover, will all other facilities be ready by then...i mean grocery store, roads within the community, swimming gym etc etc? This will have a direct impact on rentals.
2. What are the rentals that can be realistically expected for a 2BR?
3. What are the good rental agencies in Abu Dhabi that would help me with getting a tenant?
4. If anyone has been to the site, how big are the approach roads? Heard the approach roads are also highways, true?

Thanks

regards

[kedhar]

Hi Deep.

Thanks for your response. Even im planning a visit in March. Do keep us updated once you visit the site.

Without the facilities coming up, getting a tenant is going to be a problem.

Regards

[joshi.kabir]

Hi Friends,

There is no doubt in the fast pace of the construction, it is for sure on schedule. Also the rentals are the maximum in Abu Dhabi, with 2BR rental expected to be atleast Aed 220,000/- & 5BR to be Aed 485,000/-. These are the min rental returns expected.

I own a number of villas, out of which i have kept a few for sale. If anyone is interested to buy or need info regarding the project, feel free to contact me anytime. I am dealing in this project since day 1.

I have villas in the Mediterrnaean or Contemporary phases, ring me anytime. I gurantee to offer the cheapest price. CHECK OUT YOURSELF.

Regards
Kabir Joshi
+971 50 4563954

[markgbp]

Originally Posted by kedhar

Hi,

I just hit upon this forum and thank god i have found like minded people...i own a 2BR in Arabian type. Looks like it will be ready for handover by June 2009. Can any of you help me in clearing some doubts...

1. When they say handover, will all other facilities be ready by then...i mean grocery store, roads within the community, swimming gym etc etc? This will have a direct impact on rentals.
2. What are the rentals that can be realistically expected for a 2BR?
3. What are the good rental agencies in Abu Dhabi that would help me with getting a tenant?
4. If anyone has been to the site, how big are the approach roads? Heard the approach roads are also highways, true?

Thanks

regards

Hi,

I've have contact with the builders and this is what my friend told me:

1) Arabian phase handover is June 09 or earlier (half may now be April09). Approach Roads/Infrastructure will be ready for June. Although the fast highway link to the Corniche via Yas Sayiatt is open in Aug 09.
The swimming pool areas may be ready but will probably be last quater 09.
The shops/hotel in downtown will not be ready untill 2010.

2) Agents say that there is still a massive shortage of rentals regardless of the Dubai market. 200K+ rental I would imagine as families want gardens and dont want kids hanging of a balcony.

3) LLJ are a good agency.

4) Correct, the approach road is big and will link to the Yas Island interchage that is almost complete. i.e. You wont have to drive round the back of the ariport for access (as is the case now) In August 09 this interchange will link up to the Yas-Saydiatt-Corniche freeway.

Hope this helps..

[kedhar]

Thanks mark, that was very useful and sounds optimistic. Hoping for the best. Guess SCB may also start lending to Manazel properties in the near future. With the Tamweel amlak debacle, this would be a good change for al reef buyers!!

[kedhar]

I was just doing some research online..this F1 circuit is coming at Al Yas island and the completion is Nov this year, rt? This should mean a 12 lane highway directly to abu dhabi...does this by any chance integrate the reef developement? How far is Yas island to Reef...seems close, rt? If this happens should be a big boost to rentals and prices. Is there any other similar forum for reef owners?

[waseem ahmed khan]

Dear Friends,

I am dealing with Al Reef townhouses...and visit the site as well...Arabic style will be handover in June09..Desert in dec09..
If anybody need any kind of help can contact me anytime.

Renting will be no problem i have first officers and captain as client

regards

Waseem Ahmed Khan
00971 50 1949850