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#NEVER BUILT: KATHERINE PRICE MONDADORI TOWER, 40F Res (Dubai Marina)

75K views 259 replies 60 participants last post by  DocDubai 
Today I asked the developer, that price is if you buy a whole floor...

Studio price starts apr. 560.000 AED.

Location: near Sky View, TGR plot.. they have a map but I was busy to visite their office. Maybe tomorrow...
is it right next to DEWA office, or the one after that! looks like completion is in 2010
 
might buy an apartment in this building. The real state agent said the developer has filed a comlaint against Trident with Emaar, the master developer! They are using KPM's plot for office space and other stuff and were supposed to vacat the plot by now.
 
it's done! bought a 430 sqft studio on the 6th floor facing the marina, no balcony, resale market. i believe i got a good deal, dhs 536k in total, which comes down to dhs 1,245 per sqft. this is cheaper than studios in the arse end of the marina, seller said it's a rush sale! will be a great invetment as a short let!

some manager in the developer's office said i should see some movement on the site within a month or less. completion is end of 2009!
 
if you go to the developer, the cheapest studio available now is dhs 713k, though that's a 532 sqft studio! they have 6 studios left on the first 4 floors! the one and two beds are going for an average of dhs 1,500 per sqft.
 
"rush sale" was someting said by the seller, not the developer. the studio was bought on the resale market. and the short let investment thing is my thought, not the developer! didn't mean to be confusing like that!

i am taking what the manager said with a grain of salt. if they finish by mid 2010 then i will be happy! but al-masah which is the agent of the developer in dubai said the owner wants to finish it by end of 2009.
 
no that was me. i decided to sell it and make a quick buck. the cheapest studio from developers in that part of the marina today is above AED 700k. check the new development the Botanics. They also have nothing below 700k. TGR and Royal Oceanic studios are going for on average above 800k on the resale market. and you do get a marina view with my studio!

i am still surprised how cheap I got it just 3 weeks ago!
 
Construction Update

called al-Masah's office few days ago. they said they finally got the permit from Dewa. it turned out that there is a dewa cable passing thrugh KPM's plot and dewa was holding back on a permit to build until that issue is resolved.

we should see some activity onsite within 20 days.

will post pictures if i see any activity there. the site is still as it was few months ago!
 
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