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Future of Emaar Projects?

Discussion in 'Dubai property' started by sasherwani2, Oct 29, 2008.

  1. sasherwani2

    sasherwani2 New Member

    What shall happen to the recently launched EMAAR projects? Most of the buyers bought these expecting them to flip instantly. Thats not the case however since flipping is a thing of the past. 80% of these buyers cant even pay the 2nd installment! What will happen to projects like Emaar Bawadi, Mushrif Heights and Warsan? I know most of the people who purchased Warsan and not even a single one of them can pay the 2nd installment. Without funding Warsan shall not proceed which means it will eb cancelled. Will this mean the buyers will get refunds?
     
  2. georgihh

    georgihh New Member

    Now many % was the 1st installment for Warsan
     
  3. sasherwani2

    sasherwani2 New Member

    First installment was 5% (approx AED 250K)
    Second installment is 15% (approx AED 750K)
     
  4. georgihh

    georgihh New Member

    As far as I know the cost per villa is 1 million.
    So they have 25% of the value and I don’t think they will cancel.
    Very tricky situation just don’t pay the second installment and see what happens.
    They will need more money in couple of months and they might delay the payment (not officially).
     
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