Indigo Icon - To Sell or Rent

[desert dream]

The building will be delivered in April/May 09. According to me JLT is one of the better developments but way too many building coming online this year.
My price for a commercial unit in Indigo Icon is 1500 per/sqft.
Looking for advise to sell or rent...at the moment rentals are strong at 200 per sq ft which gives me a yield of approx 12%...
But who knows what will happen by the time the building is delivered ??!

 

[georgihh]

The building will be delivered in April/May 09. According to me JLT is one of the better developments but way too many building coming online this year.
My price for a commercial unit in Indigo Icon is 1500 per/sqft.
Looking for advise to sell or rent...at the moment rentals are strong at 200 per sq ft which gives me a yield of approx 12%...
But who knows what will happen by the time the building is delivered ??!

I hear they will restrict the business in JLT only to oil companies.
It is not going to be a very free zone.
Sell and buy something residential

 

[desert dream]

All of JLT for oil companies?
That's impossible..theres not enough oil companies to fill even 1 tower in Dubai!

 

[georgihh]

All of JLT for oil companies?
That's impossible..theres not enough oil companies to fill even 1 tower in Dubai!

I don’t know now but this was before the market has collapsed.
I suggest you investigate the issue and expect any law or rule to change over night.

I will not buy a business property in Dubai for the following reasons:
1. Law (for companies) changes 2-3 times per year.
2. There is not enough business in Dubai to fill all the places
3. With the implementation of the taxes and the VAT expect the main business in Dubai to minimize.

 

[Investoman_uae]

The building will be delivered in April/May 09. According to me JLT is one of the better developments but way too many building coming online this year.
My price for a commercial unit in Indigo Icon is 1500 per/sqft.
Looking for advise to sell or rent...at the moment rentals are strong at 200 per sq ft which gives me a yield of approx 12%...
But who knows what will happen by the time the building is delivered ??!

Sorry mate I dont mean to dissapoint you but I had an email this morning advertising an office in Ingo Icon for alot lower than yours. So I suggest you keep it and try and rent it out and get some money.

Selling is not a good idea right now, in my opinion anyway,..especially since the unit is close to completion.

Inv.

 

[desert dream]

Thanks...I guess thats the best option..