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Abu Dhabi - Sedrawan Investment

Discussion in 'UAE Property' started by investorppty, Jun 17, 2008.

  1. investorppty

    investorppty New Member

    Anyone heard of the above development in Abu Dhabi?. I have recvd an offer to purchase.....
  2. mermaid123

    mermaid123 New Member

    they are from which developer?
  3. investorppty

    investorppty New Member

  4. investorppty

    investorppty New Member

    Price psf is wroking out to AED2187/psf. The agent has stated that they will exit the project by Dec 08 and sell at 25% premium...
  5. investorppty

    investorppty New Member you feel this is possible?.
  6. certvista

    certvista New Member

    Can you PM me this? Where you get this information
  7. chriss

    chriss New Member

    I have a property for sale in this development at approx 1,950 sq ft
  8. chriss

    chriss New Member

    I have just read terms and realised i cannot advertise a property for sale sorry! To answer your question - yes it is a good development
  9. investorppty

    investorppty New Member

    You are selling now at 1950/SqFt whereas th eagent who was selling me this investment was selling tome at 2185/SqFt. I never bought into this and after hearing yr price I am happy I did not..
  10. chriss

    chriss New Member

    Sorry I am new to this - what does PM mean?
  11. diest

    diest New Member

    The payment schedule is based on a 20/80 Payment plan which basically mean 80% to be paid on completion.

    Start date is expected to be next month and the buildings are expected to take approx two years from the start date for completion, THEREFORE YOU DONT PAY ANYTHING ONCE THE 20% IS PAID. JUST SIT BACK AND WATCH YOUR PROPERTY GO UP IN PRICE. I say this is because the OP is very low unlike all new launches or launches that were done previously.

    Finance is available to you from Abu Dhabi’s largest Banks (Union National Bank-Wifaaq Finance) so you will have finance to cover everything else if you choose to.

    10% has already been paid with a further 5% due approx at the end of next month. A Further 5% is due four months from then. After that you will have absolutely nothing to pay.
    This was the only 20/80 launched in Abu Dhabi at a very low OP.

  12. wesrae

    wesrae New Member

    A slight correction, this was not the only 20/80 payment plan property in Abu Dhabi. There has been Marina Blue, Ocean terrace and I think a couple of the Hydra properties.

    I think it is a good investment as they are a quality developer, and as stated previously pay 20% and sit back.
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