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Discussion in 'Dubai property' started by defc0nx, Nov 24, 2008.

  1. defc0nx

    defc0nx Banned

    I have property in Badrah phase 2. Studio and one bedroom. I have the money to pay for the installment in december , but the one in may will be an issue for me. What do you think i should do? I bought these apartments for 11% and 12% respectively. Do you think i should try to sell them for 0% or whatever and cut down on my losses or wait.

    I need to make a decision and quick. 1st december is coming fast. And if i make the payments , my capital invested will only increase and there is a huge chance it will be a sunk cost , which i wont be able to live with ... if things dont pick up by MAY.

    So please.. honest advice? What should i do?
  2. jennie1

    jennie1 New Member


    I also hold one property at Badrah and have had many long phone calls with different people at varying levels within Nakheel.

    I have been told that they are going to make an announcement on Badrah in the next week to 10 days. This will probably be at worst, a revision of the payment plan. If we are lucky there will be a repayment holiday like Nakheel have given to Veneto investors.

    So my advice is to do nothing. There is a 30 day grace period on the payment due december 1, so to wait for the news.

    I would also advise that you get on the phone as often as you can to nakheel and harass them.

    The more of us that do that, the more chance we have of decision that will help us.
  3. daflanger

    daflanger New Member

    What exactly have they given the Veneto Investors?
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