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Bawadi Maysan, hold or withdraw?

Discussion in 'Dubai property' started by sally_hsu, Dec 1, 2008.

  1. sally_hsu

    sally_hsu New Member

    I bought Bawadi Maysan 1B this August from the secondary market but now I am in trouble as the market is sleeping and the next payment is due soon. I need your advice here: should I take mortgage loan (next year) and hold the property for long term or withdraw it now since I have only paid 5% and suppose Emaar can return 70% of the payment to me (could be unlikely).:(
    thanks in advance
     
  2. sasherwani2

    sasherwani2 New Member

    Its an overpriced unit. Maysan will be re-released next yr and a much lower price (I expect it to go down by 40%). I wouldnt recommend you hold it but dont just take my opinion for it. As per the 70% refund is concerned, Emaar considers itself above the law and shall not obey the Law 13.
    There is a group fighting for the investor's rights whereby the developer is supposed to refund you the 70% of your original deposits. I suggest you join that group.
     
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