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Old December 12th, 2006, 01:46 PM   #1
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#COMPLETED: THE DIAMOND, 14F Res (Sports City)

International soccer star Michael Owen inaugurates Dubai Sports City site

England International footballer Michael Owen, on his recent visit to Dubai in his role as The First Group's brand ambassador, officially inaugurated the site of the Group's flagship project, The Diamond at Dubai Sports City.


Michael Owen, the Global Ambassador for The First Group is pictured here with (L-R) Gary Shepherd, Joint Chairman, The First Group, Danny Lubert, Joint Chairman, The First Group and Mr. U. Balasubramaniam, CEO Dubai Sports City.

The Diamond is a high specification residential development offering 12 floors of apartments, an Executive Suite level and one Royal Penthouse level. In addition to a wide range of leisure facilities and a fully equipped business centre, residents of The Diamond will also enjoy preferential rates at various Dubai Sports City and Dubailand outlets. One of the first occupants will be Michael Owen himself.

Dubai Sports City, the cornerstone project of Dubailand, is a $3 billion, 50 million square feet mixed-use metropolis which will be the world's first integrated purpose-built sports city. The development will be centered around four magnificent stadia offering multi-purpose, indoor and outdoor facilities for a wide range of sports including football, rugby, track and field, cricket and hockey.

An indoor arena suitable for all hard court sports, as well as concerts and other events, also features a removable ice rink.

In addition to the stadia, Dubai Sports City will feature a series of major sports academy facilities including Manchester United Soccer School, David Lloyd Tennis Academy, Butch Harmon School of Golf, World Hockey Academy, Sports Rehabilitation Centre, gym, 50-metre swimming pool - and the ICC Global Cricket Academy.
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Old December 12th, 2006, 03:07 PM   #2
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Love this sports city towers
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Old December 12th, 2006, 03:11 PM   #3
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Old December 22nd, 2006, 12:39 PM   #4
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Hi,
We are really thinking of purchasing in the Daimond,Sports City.
We would need to sell our rented property in the uk first though.
Any readers got thoughts on buying in the diamond please? Do you think Dubai would offer us a better return over say, 5 years, that our flat in the uk?
Also, is the Diamond purchased freehold and then leased back?
Please advise as time is running out!!!
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Old December 23rd, 2006, 08:01 PM   #5
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cool tower
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Old December 23rd, 2006, 09:34 PM   #6
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check and compare resale and rentals

Quote:
Originally Posted by tidyfinance View Post
Hi,
We are really thinking of purchasing in the Daimond,Sports City.
We would need to sell our rented property in the uk first though.
Any readers got thoughts on buying in the diamond please? Do you think Dubai would offer us a better return over say, 5 years, that our flat in the uk?
Also, is the Diamond purchased freehold and then leased back?
Please advise as time is running out!!!
I am currently in the UK and see property in the UK as too expensive and I am not talking about london. London is Crazy. I had been thinking about buying property in UK as an investment and found out to buy and rent out is not worth it. Then I looked at other places in Western europe same thing. I will not make the choice for you. What I will advice you to do is look at prices and resale prices of similar properties in dubai and in the area you want. I would recommend that you also look at other areas in dubai such as dubai Marina. Also look at how much they are being rented out for. And I think this will help you make a decision if it is for investment. Use the interent no pressure that way Good luck hope I help a little
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Old December 24th, 2006, 07:24 PM   #7
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The property we rent in the UK has been sucessfully rented for 13 years now, so there is some capital in there.
Sports City is where we were looking, so re-sales aren't readily available yet.
The Diamond has only just begun development.
I had heard that the Marina area might be a better option. My worry is that there will be a saturation of 1 bed apartments in the future, so re-sale might be a problem. We absolutely love Dubai though (and Abu-Dhabi), so it would be great to get on the ladder in the Emirates.
Many thanks for your reply.
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Old December 24th, 2006, 09:38 PM   #8
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Wiki,
I am hearing good things about real estate in the Dominican Republic also.
What's your view on property where you live?
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Old January 12th, 2007, 01:06 AM   #9
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Kool very informative
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Old January 15th, 2007, 04:08 PM   #10
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I too have been looking at the Diamond -was sent some details. But at the moment it over my budget, the least I could afford in the Diamond would be a studio flat (at £100k), would that be worth it? Theres seems so many apartments in Dubai at present would I be able to re-sell it? or is there more demand for 1-2 bed apts? would a studio be useful enough?

Another question is as its a luxury apt with service fees etc, whats to say in Year 2 the fees won't double? Or is there some statement saying they will be kept at a reasonable %?

Lastly, for foreigners like people from Uk purchasing in UAE is the property freehold with access to TITLE DEEDS like in UK? or is everything property of UAE Govt.? And if one does buy there and rent oout how do you receve your rental income? i,.e from Dubai to UK is that taxable to get it to UK?

Thanks, for any help, I'm new to property investment in UAE (but love Dubai) but looking for property investment, growth and high rental yield. Second optio is to buy in North England I guess?!

Cheers
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Old January 15th, 2007, 04:11 PM   #11
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Project threads are meant only for construction related discussions. Please redirect your investment doubts and questions to the thread link below

http://www1.skyscrapercity.com/showt...419153&page=12
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Old January 15th, 2007, 04:47 PM   #12
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sorry i did not realise, I had meant to reply to post by "tidyfinance" in this thread, but will now re-direct my comments in the other place as you suggested. Thank you.
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Old May 23rd, 2008, 08:27 PM   #13
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To update investers like me here the latest detail of on going constraction of The Diamond
http://www.thefirstgroup.com/thediam...=diamond-may08
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Old June 10th, 2008, 11:28 PM   #14
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CONSTRUCTION UPDATE
http://www.thefirstgroup.com/thediam...=diamond-jun08
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Old August 2nd, 2008, 12:39 AM   #15
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Thanks, so foundation poured.
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Old August 17th, 2008, 10:27 PM   #16
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new pictures on website,its looking good heard that they are looking at june 2009 for handover.
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Old August 20th, 2008, 12:59 AM   #17
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Good progress ...http://www.thefirstgroup.com/thediam...ion-status.php
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Old November 1st, 2008, 02:17 PM   #18
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taken 27 th october

The Daimond is the building to the far right !

Last edited by amplesou; November 1st, 2008 at 02:27 PM. Reason: wrong pic !
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Old June 10th, 2009, 02:07 AM   #19
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so close from topped out ...

http://www.thefirstgroup.com/thediam...ion-status.php
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Old June 19th, 2009, 11:51 PM   #20
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19th June 2009 from Imre:

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