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2 & 3 BDR in Zen Tower

Discussion in 'Dubai property' started by Roshan, Nov 26, 2008.

  1. Roshan

    Roshan New Member

    Got an SMS from Sherwoods who are selling 2 & 3 BDR in Zen tower in Dubai at Dhs 825 psf on gross area.

    My friend visited the apartments and he says they are quite good.

    However the price shocked me. Have we bottomed out - OR - is it the tip of the iceberg. That price for a ready to move in bldg is less than the off plans.

    Would be a good opportunity to buy and rent considering you could get atleast Dhs 150 K on rent. The 2 BDR were roughly going at Dhs 1.5 million. Bank finance was not available on the phone but they said they could arrange. Beware do not fall for the bank finance trap. Ensure to put a clause " sale subject to bank finance "

    Regards

    Roshan
     
  2. georgihh

    georgihh New Member

    sounds good
     
  3. DAYFox

    DAYFox New Member

    Actually, it sounds almost too good to be true! This would mean 10% rent p.a. and as u said, yes, it's defenitely cheap! How is the location? I just googled myself and found out that it is Marina...
    Why do u not go for it? The best u can get at the moment IMHO :)
     
  4. ramini

    ramini New Member

    Hi guys,

    I went to see the apartments couple of weeks back. The price was then starting around 1050-1100/sqft. Quality is pretty bad compared to what you can get today and floor layout closed, inefficient and dark. Wouldn't like to live in it myself.

    Was contacted by the agent a few days later, announcing the price was now 912/sqft. Also received the SMS of 825/sqft recently. Obviously an investor trying to get rid of many apts.

    The maintenance charge was not set, but said to be around 4 dhs/sqft.

    Location is in the far end of the marina, just on top of the new interchange (i.e. there will be lots of traffic noise). no particular view to talk about, except the jebel ali powerstations. Swimming pool is very small and indoors, in the basement. It's ready to move in!

    r
     
  5. Roshan

    Roshan New Member

    If I had the money I would go for it. The very idea of 10% returns on my investment would have been a temptation.

    However I would look into the other aspects like location, proximity to essentials.

    Ready to move in bldg is cheaper than the off plans which means the prices are coming down. The investor who bought the bldg would have tried to get more but must have failed.

    In time to come we will see better deals. Leaves me with the thought...I wish I had liquidity.

    Regards

    Roshan
     
  6. sasherwani2

    sasherwani2 New Member

    Wait for 3 more months and it will be selling at 550/ sq ft. Rents in Dubai will not stay what they are guys, dont you have any idea abt the job market at all?
     
    Last edited: Nov 28, 2008
  7. sammy1003

    sammy1003 New Member

    2 and 3 beds in Zen Tower

    Please note that those units have a "common area share" of more than 300 sqft each!
     
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