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Marina Waves - Hydra Full Floor

Discussion in 'Dubai property' started by investorppty, Aug 13, 2008.

  1. investorppty

    investorppty New Member

    This will be launched on the 21st of August & the full building has been already sold out and being sold at 2% premium.

    Key Features: G+38 building
    Location: Al Reem Island right in front of the WATER - Sea View
    Developer: HYDRA [the best in Abu Dhabi??]
    Payment plan is 2.5% Now & 40% on completion
    All sold out at pre launch.


    PAYMENT PLAN
    2.5% NOW
    2.5% 25/08/08
    5% 25/12/08
    5% 25/04/09
    5% 25/08/09
    10% 25/12/09
    10% 25/04/2010
    10% 25/08/2010
    10% 25/12/2010
    40% ON COMPLETITION

    Pre-Launch Floors:-
    Floor No 2, 9600SqFt, AED23,088,000.00
    Floor No 3, 9600SqFt, AED23,136,000.00

    Premium is 2% direct from seller

    These are all sold out & I am getting these as a favour from a friend on the inside. You wont find this property on Hydra website as someone has underwritten this building.

    PLEASE NOTE ONLY FLOOR NO 2 AND 3 ARE AVAILABLE BALANCE HAVE BEEN SOLD

    FREE TRANSFER
    ALL FLOORS ARE SEA VIEW, DEVELOPER : HYDRA

    PLEASE LET ME HAVE YOUR OPINIONS.
     
  2. sameer.dada

    sameer.dada New Member

    hydra

    How much appx AED per sq ft will be the price?

    How much is it now in Al Reem Island?

    I've heard it is very slow there and no one can sell their units bought at cityscape abudhabi? Is this true. I know people who are willing to sell 1 br apts for 3% premium only and can't find buyers..
     
  3. investorppty

    investorppty New Member

    approximate price is AED2600/psf for 18th Floor. Am not sure of current prices at Al Reem. I only just recvd this offer. I am looking to invest into this project but am not too sure as I am receiving conflicting views. Some people saying Al Reem Island is the best place to invest.
     
  4. cheemz

    cheemz New Member

    I agree that Reem Island is the best place to invest... We all know the genuine demand in Abu Dhabi due to serious lack of places to live. Although the market is slow right now, it'll pick up mid sept onward. With a payment plan like that, i'd say its a stellar investment. Also Hydra tends to move quick on the market! Especially now that they have reported to be ahead of scheduele in the Hydra Avenue-Reem Island project... All signs say this is a good investment!
     
  5. mpat

    mpat New Member

    It is really a good place to live and invest.
     
  6. iced

    iced New Member

    expensive

    2500 AED is developer price for Al Reem and this is for individual units. Resales are much cheaper. As you are going to buy a whole floor then yes this is very expensive and you could buy cheaper especially at the moment when the market is very slow
     
  7. sameer.dada

    sameer.dada New Member

    Yes I agree with you guys. Al Reem is a great place to invest. There is genuine lack of units in Abu Dhabi. People who bought early are giving re-sales for cheaper than current market prices. But then you have to pay 25 - 35% premiums.

    Whereas, people who bought in Abu Dhabi cityscape can sell after Dubai Cityscape as new launches will be 2800 AED per sq ft +.

    So if you want to no pay premium, you can find some sellers for 2 - 4 % premium in good projects like The Gate, Al Qudra and Hydra. There are very few of these sellers on the market, but if one is serious about buying, its possible..
     
  8. Roshan

    Roshan New Member

    That could happen when the entry level is high. People would think twice paying 2.5 million for a 1000 sq ft apartment ( usually that size is a 1 bedroom flat ).

    I will always maintain that Abudhabi is a flippers paradise.

    Regards

    Roshan
     
  9. investorppty

    investorppty New Member

    Dear All...thanks for your advice I am intending to purchase half floor at AED2600/sqf on 18th Floor. Intending to flip the property within a month or 2 or even at launch. Apparently Hydra inetnding to launch at AED2900/sqf.

    I have been informed by agent that there is an event in sharjah stadium on 21st aug where saif ali khan and kareena kapoor are performing, this project will be officially launched there. They have also paid shaikh Moammed bin rashid al makhtoom - ruler of dubai to honour the event with his presence. So you can imagine the craze. Hydra is sponsoring this event.
     
  10. iced

    iced New Member

    Good luck because i think you may need it. Of course if you find a buyer who pays you a premuim then well done. However i really think that it will be diffcult to find someone during the next couple of months with holidays and Ramadan. If you dont find someone then you will have to pay the payments. Currently there is a lot of bad press regarding developers and AD is less transparent than the Dubai market. You may find that you may not be able to sell at 2600.
    It is possible to resales in Reem island for 2200 and less. Finally are you really sure that Sheikh Mohammed will really attend the event??

    So please do your research and maybe try to find a buyer in advance so that you know that you can flip it otherwise you might get burnt
     
  11. Roshan

    Roshan New Member

    Developers use enticing tools like Kareena & Saif to sell. AED 2600 is a high entry level and as other members have drawn caution, I too feel there is an element of risk with that high a price.

    Have a backup plan if the flipping does not materialize.

    Regards

    Roshan
     
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