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Elite Sports Residence 5

Discussion in 'Dubai property' started by Dubai Sports City, Mar 13, 2008.

  1. I hear this is thier 5th Elite Project in Sports City and they have an excellent developer. I also herd they have the best locations along with good prices and flexible playment plan. What does everyone think??

    ITMASTER New Member

    I think prices is not cheap )) already as for new lunched I have pricelist but don't think it's good
  3. Wll i know Global Investments Ltd prices are cheap compared to others that are ridiculous. They are covering the Elite 5 project at the moment. Thier last project Elite 4 sold out within a week as i know some one who bought from them.

    If you interested then let me know i would be happy to forward you some prices.
  4. fws

    fws New Member

    I've sent you a pm
  5. jags

    jags New Member

    elite sport residence 5

    i just baught 4 studios in eilite 5 at pre launch price.will it appriciate in one year.i have only 50% finance available .will it be easy to sell after one year? is there any scope left for profit in dubai off plan property market?which are the best location?i have one br completed apt 714sqft to sell in marina much should i expect per quickly can it go.

  6. Dear Jags

    Congrats on the purchase of Elite 5. It will definately in no doubt increase in a year, there still high demand, everyone is still buying i dont see the market going slow. You can atleast make £10,000 profit on each of the studios, i have seen clients selling a later in sports city and making that much.

    Please PM me your email Jags and i will send you some info in what to do on the 1 bed in marina.
  7. Polo

    Polo New Member

    Did you buy through an estate agent or direct from the developer? Mu understanding is that all payments should be made to an escrow account, but I'm hearing from some of the estate agents that this only starts after 15% has been deposited. That can't be right. Does anyone have any thoughts on this? I'm ready to buy at least one apartment.
  8. Trend XP

    Trend XP Banned

    Only few unit available..

    Congratulation for how is booked an apartment today

    Price it will increase next week
  9. jags

    jags New Member

    you are right.first 15% is straight to the developer.they are setting escrow account soon.they have done this for the previous projects.i trust them .they are good.
  10. mpat

    mpat New Member

    All NEW investors should check all projects in sports city since some of them are still selling cheaper than pre launch prices for some new projects.This is because the price of plot itself has risen over a period of time, so those developers who bought it before and handed over the contract for construction , will sell their units a bit cheaper in order to sell them all.
    I think Hamza tower and Eden garden is sold out.but some more old projects are selling few units like shami, rufi , bangash etc.
  11. thats right once you have deposited your first payment in this case 15% they will incur an escrow. They dont create the escrow for nothing unless they know you have purchased from them.
  12. msw

    msw New Member

    Does anyone know who will provide finance for this developer (Triplanet International)? I have tried LLoyd, HSBC, NOOR.
  13. y cant it be right?? i think that its ok because why would you create an escrow when no one has bought your apartments, it cost money to make an escrow therefore once a customer has purchased there should be an escrow created immediately.
  14. mpat

    mpat New Member

    Hi dubai sports city

    I dont know what s exact procedure for Escrow and when it should be there, But I know of a company who got escrow account without launching even one proeprty ! ! ! Its name is CIRRUS. You can verify on that.Pls correct me if i m wrong.
  15. mpat

    mpat New Member


    try badr al islami or Mashreq bank. This name is a bit familliar for me and I m sure they have tie up with some bank , Y dont u ask directly to Triplanet ?
  16. MishMish

    MishMish New Member

    I spoke to Triplanet and they advised that No bank is offering finance on the Elite projects. I think this is a worry ?????
    How resalable will it be in the future if people cannot get finance ?
  17. mpat

    mpat New Member

    Yes , u r right, its a worry if there s no bank financing it. I thought that mashreq is financing it since most of the projects in DSC are being financed by mashreq.
  18. MishMish

    MishMish New Member

    hmmmm.. I thought I had found a good deal on the studio with an all in price of 565k inc parking in Elite III. However the resales seem to be on the market a while, obviously because not everyone has cash lying around these days and rely on finance. Perhaps Elite will get finance closer to the time on or completion, but as the safe playing type I am I don't think Im willing to take that risk. Back to the drawing board AGAIN, to find the right investment for me :eek:
  19. mpat

    mpat New Member

    I think 565k for a studio is very high price, My developer yesterday called me for a studio available on resale for 490k for 464 sq ft , with parking , with finance facilities by mashreq if any one wants to avail. Try to do more research and dont hesitate to bargain.2 days back a friend of mine could grab 1 bed in germn sport tower for 950 aed psf all in,which i think is a jackpot for him.
  20. chopperjohn

    chopperjohn New Member


    I'm just looking for information about shami tower, Sports City.

    At what stage is it at now? When will it be finished? Is all ok in Dubai at present?

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