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Indigo Icon - To Sell or Rent

Discussion in 'Dubai property' started by desert dream, Jan 11, 2009.

  1. desert dream

    desert dream New Member

    The building will be delivered in April/May 09. According to me JLT is one of the better developments but way too many building coming online this year.
    My price for a commercial unit in Indigo Icon is 1500 per/sqft.
    Looking for advise to sell or the moment rentals are strong at 200 per sq ft which gives me a yield of approx 12%...
    But who knows what will happen by the time the building is delivered ??!
  2. georgihh

    georgihh New Member

    I hear they will restrict the business in JLT only to oil companies.
    It is not going to be a very free zone.
    Sell and buy something residential
  3. desert dream

    desert dream New Member

    All of JLT for oil companies?
    That's impossible..theres not enough oil companies to fill even 1 tower in Dubai!
  4. georgihh

    georgihh New Member

    I don’t know now but this was before the market has collapsed.
    I suggest you investigate the issue and expect any law or rule to change over night.

    I will not buy a business property in Dubai for the following reasons:
    1. Law (for companies) changes 2-3 times per year.
    2. There is not enough business in Dubai to fill all the places
    3. With the implementation of the taxes and the VAT expect the main business in Dubai to minimize.
  5. Investoman_uae

    Investoman_uae New Member

    Sorry mate I dont mean to dissapoint you but I had an email this morning advertising an office in Ingo Icon for alot lower than yours. So I suggest you keep it and try and rent it out and get some money.

    Selling is not a good idea right now, in my opinion anyway,..especially since the unit is close to completion.

  6. desert dream

    desert dream New Member

    Thanks...I guess thats the best option..
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