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Metro Central Hotel Apartments

Discussion in 'Dubai property' started by theammer, Sep 8, 2008.

  1. theammer

    theammer New Member

    We are seriously considering investing in this development due for completion in late 2009. Are there any other forum members that have already invested in this development or can anyone offer any advise on this investment opportunity(Via First Choice).

    The figures look very good but there are lies darn lies and then there are Dubai Rental and Capital Investments Figures :)

    We have done very well on a studio apartment we had in International City - Greece Sector but I know what to hit Dubai Marina area (if I can arrange to rob a bank!!).
     
  2. Mendozo

    Mendozo New Member

    I have some friends working for the First Group and from what I know they are selling quite overpriced projects in Umm Al Quwain, Ras Al Khaima and Sports City. Especially, I'm very much concerned about their wealth-builder program, where you have to share 40% of your annual rental income plus pay the bills for water, electricity, etc.

    In Dubai it is very easy to rent your ready property with up to 10% rental yield for residential and up to 18-20% for commercial properties. Why to share almost half of your profit if any good real estate agent can easily find a tenant within 2-3 weeks?

    Their recently launched Metro Central on Sheikh Zayed is also quite expensive, though I don't have full details as you can only get them provided you register on their website and spend 2-3 days on phone calls :)

    In my opinion JLT looks far more attractive as the location is the same but the rates are far more attractive. Business Bay is also a sound investment if you take good payment plan and reasonable price.
     
  3. azeemi

    azeemi New Member

    Serviced hotel suites tipped as the most profitable investment in Dubai

    Serviced hotel apartments are the most profitable investment in Dubai right now as tourism levels continue to rise, it is claimed.
    Although all sectors in Dubai are experiencing unprecedented growth, investors are keen to seek out the biggest returns, according to Daniel Schon, Vice President of Schon Properties.
    The company currently has four projects under development in various sectors. One new area is mixed use which Schon believes will prove popular as commercial rental costs soar. Its Signer project in Jebel Ali has been designed to take the needs of small business into account.
    'It will allow people to make use of one space for their business and residential needs,' he said. 'The biggest problem for these people when they move to Dubai is that, because of the rising costs of rent they can never find a place.'
    Of the various projects springing up across the city, all are designed to attract investors but he reckons hotel suites are the most profitable at present. 'Serviced hotel apartments are definitely the most profitable, because Dubai is built on tourism. You see the campaigns all around the world,' he said.
    The concept is that all the rent goes into a pool, then an independent auditor distributes the rent equally according to your percentage ownership of the building. It offers very good return with projected yields of up to 20% per year based on 10 year historical information from the Department of Tourism and Commerce Marketing, the inflation rate and so on. We've done extensive research on this and the numbers are phenomenal,' he added.
    He scoffed at rumors that the property bubble in Dubai is set to burst. 'We were offered plots in 2002 that we didn't go for because analysts were saying the bubble's about to burst. These are the same reports that are still going around now. Anyone who says that is not looking at the whole picture,' he said.
    'Dubai is the centre of the region for property; there are also investors from Iran, Pakistan, and India. Even Chinese groups have started investing here. Everybody wants to be involved.'
    (resource) : propertywire. com/news/middle-east/serviced-hotel-suites-profitable-dubai-200807191341.html
     
    Last edited: Feb 8, 2009
  4. naxal

    naxal New Member

    Tell Danial of Schon Properties to FIRST complete their flagship project 'Dubai Lagoon' ,then speak of any other projects !!
     
  5. jags

    jags New Member


    which planet are you coming from? do you have slightest idea what Dubai is going through. not to mention real estate. tourism business financial sector.what unprecedent growth are you talking about.wake up open your eyes and look around before giving advice to novice investors.
     
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