Motorcity in Dubai land

[SKY]

Everyone is guessing here, the same person you will ask for advice will neither know the wiser.

It's a call you have to make with your gut instincts.

Way to look at it is - a good development at the moment which u can buy with throw away prices, will it be better to buy that then WHAT you got currently with the prem/installments you have paid for it.

I have a off plan property, which is a studio and is slightly less priced then a ready property in JLT, so where is the common sense of carrying on. But then again i don't have to pay in one go.

At the moment everything is down around the world and will be for 2009 and most 2010, sure u may get sum recovery by then, but not for the masses.

I don't expect anything exciting happening anytime soon and maybe another 5% down.

I have made my plan and stopped reading the papers and will look and see what happens in 2010. Until i will just chill out and do what i do every day and that is to carry on living with a smile

 

[AbraCadabra]

Hmm.. what really concerns me is that UP has started offering Rent to Own apartments in Motorcity starting at low rents..

As someone else mentioned I think any advice at this point is guess work but I do think MotorCity is turning out to be one of the better developments in Dubai. Though I may be biased given that I plan to live there .

However you mention UP is planning to offer Rent-To-Own at very low rents... the posting here Union Properties offers flexible leasing and buying says: "they are charging 115k for 1 Bedroom, plus soem 5% comission and Plus Security deposit, Plus Mantainanace. also Thats only in the 5th Phase which is not yet ready"

I expect Phase 5 will not be ready till end of Q3 at the earliest and I don't think that is very low for a 1 bedroom. Have you heard otherwise?

 

[ngn97141]

Everyone is guessing here, the same person you will ask for advice will neither know the wiser.

It's a call you have to make with your gut instincts.

Way to look at it is - a good development at the moment which u can buy with throw away prices, will it be better to buy that then WHAT you got currently with the prem/installments you have paid for it.

I have a off plan property, which is a studio and is slightly less priced then a ready property in JLT, so where is the common sense of carrying on. But then again i don't have to pay in one go.

At the moment everything is down around the world and will be for 2009 and most 2010, sure u may get sum recovery by then, but not for the masses.

I don't expect anything exciting happening anytime soon and maybe another 5% down.

I have made my plan and stopped reading the papers and will look and see what happens in 2010. Until i will just chill out and do what i do every day and that is to carry on living with a smile

Sky I am glad you think that way. With money stuck in so many places its hard to think straight. I thought I wasnt affected until Dynasty Zarouni went down a few days ago taking another chunk of my money. So though I aint distressed today I think the domino effect is gonna get to me some day and to most others like me ... soon. Whether your an entrepreneur or employed, eventually the recession is going to hit you in some way or the other and then you might just get distressed. And then you might drop those prices on your own properties just cos you need cash to survive or leave the country ( as a lot of people already are ) or pay the staffs salaries ( as business in 2009 is gonna slow down ) . Yes I like most other people, am hoping that none of this happens but it seems inevitable at the moment. I usually am a very optimistic person but this cloud does not have a silver lining... and the only light I see at the end of the tunnel is of the oncoming train.... I know I am digressing but I think that the impact of recession on Real estate is only going to get worse... Not that these properties are bad or Dubai has no laws or infrastructure etc etc that most people talk about... Even if you dont consider those factors.. things are only gonna get worse... So dont U think its better just to get out for now ( Only if u can ) and then wait till the storm ends ?

Regards

 

[Roshan]

Everyone is guessing here, the same person you will ask for advice will neither know the wiser.

It's a call you have to make with your gut instincts.

Way to look at it is - a good development at the moment which u can buy with throw away prices, will it be better to buy that then WHAT you got currently with the prem/installments you have paid for it.

I have a off plan property, which is a studio and is slightly less priced then a ready property in JLT, so where is the common sense of carrying on. But then again i don't have to pay in one go.

At the moment everything is down around the world and will be for 2009 and most 2010, sure u may get sum recovery by then, but not for the masses.

I don't expect anything exciting happening anytime soon and maybe another 5% down.

I have made my plan and stopped reading the papers and will look and see what happens in 2010. Until i will just chill out and do what i do every day and that is to carry on living with a smile

Hey I like th spirit Mr. Kool

Roshan

 

[AbraCadabra]

More construction updates of UpTown, Green Community, Business Park and F1x MotorCity posted at:

Union Properties, Dubai, UAE: MotorCity - Construction Update

 

[GhostFac3]

will the autodrome be able to handle formula 1 races? I'm looking at the site, but don't see where it mentions it.

 

[samsaf]

Actually, Formula 2 will be racing in this track... along with other car races

I got this info when I went to see my flat as an initial handover in Foxhill...

One this is for sure, that track will be very busy this year!

Plus, we the house owners will be getting VIP tickets... for free

The full 2009 Calendar here:
http://www.dubaiautodrome.com/general/index.aspx

 

[AbraCadabra]

I've been told that while the track itself is capable of handling F1, it's virtually impossible that Dubai will get F1 when Abu Dhabi already has F1 at Yas Island on a 7 year contract with the first race scheduled for November this year. Perhaps after the 7 years are up ?