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Jumeirah Village South - Why?

Discussion in 'Dubai property' started by KingPin, Aug 19, 2007.

  1. KingPin

    KingPin New Member

    I've been looking at other long term investments and came across Jumeirah Village South.

    Can anyone advise me on why most of the apartments seem to be on cheaper side than what is available elsewhere?

    Is it poor location, lower expectations on returns, basic builds?

    Or is it being overlooked at the moment for more "sexier" projects like Old Town, Dubailand etc?

    Any advice greatly appreciated.
     
  2. eyeC

    eyeC Senior Member

    kingpin

    hi
    1-i think most projects in JVS are done by small developers

    2-they need about one year if not more just to collect the money from sales
    prices go up and contractors will charge developers more for the same job
    becouse of inflation materials demand and etc...
    the developer is new to the market maybe his first job and he has high expectations about the profit he must make and he will not give one dime from his profit
    so what does he need to do is ask the contractor for lower quality remove balconies, remove grass, lower finishing products so you the buyer will get something different from the pictures they used for marketing sometimes something completly diff

    3-most fo the projects they say will finish in 2009 some end of 2009 meaning 2010 add to this another min six months delay to be on the safe side say one year so if they sell all flats in the building now you have many years before you recieve your flat

    4- lets say the developer is good and he completes the job
    you have a flat in 2009 or 2011 and you bought it 300,000 studio
    in 2007 and you want to rent it they give you 30,000 rent for it
    now we go to point five

    5- year 2011 maintenace charges so high it will eat 20 % of your income
    do your math you will see its just not worth it too much risk you taking with the developer ,many projects(over supply), and law is not clear on many issues


    maybe its good for a long term investment and long term i mean 10+ years

    tip
    1-if you want to buy from a developer in JVS ask for 10% discount and you will get it and if you good you can get 20%
    2-buy ready property and gain rents for three years which will make it alot cheaper ...they r pricing off plan too high its just not worth it


    good luck
     
  3. fcrs

    fcrs New Member

    RE


    JVS is good project but long term investment
    if you are looking for something faster i got some project cuurenty the best price in the market office tower in Business bay, Sheikh ZAid road 1030 Dhs per Sq ft, developer price is 1100 Dhs something and all are on Resell only

    Currenty office space in Sheikh Zaid road Starts from 300 Dhs to 440 Dhs ( per year )
    Dubai marina is about 300 Dhs per Sq ft ( per year )
    JLT 220 to 300 Dhs per Sq ft but its bad area currently because so much construction going on near by.. and its bit far too ( per year )
    Business bay should be 350 to 800 Dhs per Sq ft which means 3 years you cover your investment ( per year )

    If you are looking for office space in some excellent towers please let me know
     
  4. wayneis

    wayneis New Member

    Master Developer of International City= Nakheel

    Master Developer Juimeirah Village South = Nakheel


    Could it be that investors having dealt with a large scale project (International City) which Nakheel was happy to call it self Master Developer
    made promises that have yet to be delivered, increased service charges to over double what was originally quoted are steering clear of any Future
    Projects where Nakheel is Master Developer and are not so easily fooled or convinced by glossy sales papers, fast talking salesman and promises of
    much, much more!

    Dubai investor's are becoming more wiser and doing their homework.
     
    Last edited: Aug 20, 2007
  5. KingPin

    KingPin New Member

    Unlike me to not know the master developer is Nakheel.
    That changes so many things. JVS has just dropped way down my list.

    I'm not going to discount it completely, as like IC it is bound to be well overdue and nothing like we were promised and probably expensive to maintain, but also like IC it will make for good rental and is bound to appreciate in value.
    Thanks for the heads up Wayneis.
     
  6. wayneis

    wayneis New Member

    KingPin what I think will eventually happen is that JVS will piggy back on the success of Sports City which is across the road and close by.

    If your thinking of parting with your hard earned cash have a look at Sports City, much better option than JVS.
     
  7. KingPin

    KingPin New Member

    I had a quick look at Sports City, but some of the prices were a little rich for me. I was still getting better deals for flipped JBR apartments than what was on offer at Sports City.
    My main drivers are location and value. Anything near the intented Jebel Ali airport creation, Dubailand, The Marina or nearer the city not built by Nakheel or Damac might be more what I'm looking for. Saying that, I've just about covered everywhere in Dubai above havent I? I've even started looking at Abu Dhabi and the Reem project. So much choice, so much confusion, so little money. Thanks for your continued help.
     
  8. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    Hi Kingpin I've just bought off plan in Metropolis Lofts in JVS; these are two 29 story towers on the edge of the village with studios starting at under 50k GBP. There are restaurants, shops & a health club in the project and the qualities look excellent. They are NOT built by Nakheel or Damac but by a London based constructor. Please PM me if you would like more info..I just needed somewhere to crash instead of using hotels.
     
  9. KingPin

    KingPin New Member

    I'll look into it. Thanks for your help.
     
  10. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    If the project is of interest I can send you the e-brochure if you let me have your email address. As my company are in the property business we are registered as agents so if it did interest you we receive a commission of which I would gladly pay 50% back to you (this is worth 2% of the purchase price)
     
  11. Canadian

    Canadian New Member

    Imerial Residence

    Guys,
    What do you think about the Imperial Residence in JVS. I have never been in Dubai, but planning to travel there next week to review some off plan properties in JVS for investment purposes. I would really appreciate if someone can share with me any information they may have about the Imperial Residence and its developer, contractor, location, growth and income potential.

    Regards

    Canadian
     
  12. alybizz

    alybizz New Member

    JVS - Imperial Residence


    Greetings!

    With reference to your posting desire to know about JVS - Imperial residence, its a project from Tameer Holding, currently selling the left out units at the cost of AED 1485/- PSF onwards, its a good project with tons of amenities.

    Contact me for more details at alybizz at gmail dot com

    regards,
     
  13. luludam

    luludam New Member

    hi,

    Why donn`t you want to invest in IMPZ (International Media Production Zone)
    it will not take that much time as JVS. IMPZ has many advantages (free zone, 70% commercial and 30% residential and very close to new Jebel Ali`s airport) prices are reasonable.
     
  14. Wannaberich

    Wannaberich New Member

    Go for DSO.The infrastructure was completed a long time ago along with 516 villas and the headquarters.Currently there are a further 1032 villas being built(for emirates staff?)
    Also some 60 buildings either under construction or soon to be started.These include the magnificent 'German Buisiness Park'.Porsche engineering are moving there,last week was announced a 7 milion sq ft campus to train engineers.GEMS school opening in Sept.
    This will be such an easy place to rent a unit.Many businesses opening up here and lot of offices in relation to residential units.By the time the slow Business Bay gets anywhere many offices here will be full.Also,academic city across the road will have thousands of students,more rental potential.
    JVC is a waste of time.Years to get anywhere,full of small fragile developers who dont know what they are doing.A mess of a project.
     
  15. JOHNNY-D

    JOHNNY-D New Member

    Jvs

    no.. i think it's better to invest in JV than DSO or IMPZ. :cool:
     
  16. DuNewbie

    DuNewbie New Member

    This will sound like a dumb question... but whats wrong with Nakheel? I am new to dubai... I also like kingpin am having a problem ignoring the prices in JVC
    Why would Nakheel let a development in such a nice location be spoiled by subcontracting to shady new developers... Something just does not make sense here if you assume all decisonmakers are smart
    appreciate feedback
     
  17. Wannaberich

    Wannaberich New Member

    Not all developers at JV are shady.Just make sure u pick the right one.JV will be in my opinion the best place in Dubai to live.A proper community with pavements,shops,somewhere u can walk around like in Europe which is what Dubai badly needs.
    If your looking to live here yourself then go for it.If its for investment then go for DSO.
    Much more being built at the moment and set to be a commercial hub.
     
  18. DDS

    DDS New Member

    JV was originally sold by Nakheel to investors as a a purely villa/townhouse development 5-6 years ago. After lengthy delays the original concept was scrapped and the investors were given back their money.
    The area was re-released as present - JVT/JVS which only some of 1-2 BR villa/townhouses were retained from the original concept. The vast majority of the of JVS plots was sold to the private developers.
    A portion of the original JV is what is now Jumeirah Park.
    (At least that is how I remember it??)

    That is a good question about why it was sold to many small private developers??

    My guess is Nakheel lost quite a bit of credibilty when the original JV was delayed/scrapped and the big guys bailed out?? plus Nakheel, at that time, had there hands full with the delayed Palm Jumierah.

    Having said that- I think JVS will be fantastic when its done- great location/ substantial green space in masterplan/ good mixed use-urban design.

    I would just be very careful about selecting developers and be patient with the masterplan infrastructure.

    BTW Diamond Developers has several projects in JVS that are well into the construction phase. Diamond Views I (where I have bought a townhouse) construction is quite advanced and could be finished early 2009. The big question I have is will the electricity/water be set up by then??
     
  19. Rammah

    Rammah New Member

    I work for DAMAC, and we're obviously one of the best developers in Dubai, with a strong presence in JV!

    If you're looking for something there, feel free to contact me on 00447825107389 or pm.

    Regards,
    Rammah
     
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