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Dubai Skycourts

Discussion in 'Dubai property' started by euroinvest, May 20, 2008.

  1. euroinvest

    euroinvest New Member

    Has anyone invested in Dubai Skycourts in Dubailand? For some reason, the prices here seem below the prevailing market prices. Anyone knows why?
     
  2. petelles12

    petelles12 New Member

    1. National Bonds is developing, so financially it is secure.
    2. As you rightly said, it is below the market prices but not much. In my database, Avg SQFT price is 974 AED; whereas Liwan is around 1050; Ramram is around 1140.

    Personally I believe that the major reason is architecture of the buildings. It contains apartments next to each other and rather giving an office feeling.

    I would not prefer.
     
  3. euroinvest

    euroinvest New Member

    Do you think there would be any potential for flipping in the short term here? What sort of increases would we be looking at % wise?
     
  4. petelles12

    petelles12 New Member

    I am a technical analyst, expert on analysing current and historic transactions but can estimate future demand statistically in this market (no statistics at all, government is saying that inflation is two digits; what does it mean !!!!?) so I can not give % estimate for future.

    BUT, Personally I am seeing still very strong demand in the market. Emaar /Bawadi is going to build a huge city in Dubailand which 50+ hotels only. It is a proof a high demand.

    In Serviced apartments, be carefull. You need to trust the operator. Check Bonnington case. They changed profit sharing from 80-20 % to 50-50 % after selling everything. People lost big money and lost the other opportunities in this example. I am saying that just check the agreements very carefully if you decide to go in that direction otherwise business is good. Note that even Emaar decided to invest also in this business. In this area The Cube has excellent design but I did not check profitabillity table in detail.

    If you have enough cash, the market is excellent for quick buy/sale. Focus on the buildings which will finish within 6-7 months. This is not feeling but STATISTICS.

    Just an example. Check a 1 bedroom from JLT / Lakepoint. 851 sqft 1.12 million in Landmark and 901 sqft 1.215 in Tactical. 3 months later, instead of waiting your Skycourts which MIGHT be finished in 2009, get the evaluation in Lakepoint within 3 months and/or rent out in 2008-Aug from at least 120 K. Close your 1 year mortgage part immediately.

    This is only an example. There many good opportunities like this one. But, my suggestion is focus with the ones to be Really completed within 6-7 months (even 3 months might be late).

    As I said; I am technical expert not in the sales area. Do not let my suggestions as complete expert advice. Ask to property consultants also. I am just sharing my ideas.
     
    Last edited: May 30, 2008
  5. mpat

    mpat New Member


    Hi Patel

    U got good brain,really appreciate your thoughts, I was thinking in the same line.

    But, Just one doubt, Do you think that the bldg that is getting ready in 6 or 7 months will be better in quick buy and sell ( flipping ) any statistical calculations as u mentiones ?
    Thanks
     
  6. petelles12

    petelles12 New Member

    I can not give since I am giving these only to my boss. Trust me.
     
  7. pwashere

    pwashere New Member

    Skycourts - Market value and information

    Hello,

    Well, currently the demand for skycourts seems to have improved drastically, overtaking remraan and liwan, mostly because the stated quality of work is more superior on this project, but I guess it's too early to say, we'll have to wait and see.

    But I found an interesting link where someone's posting info on the progress of construction:

    www . skycourtsprogress . com

    Hope its useful
     
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