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Property, Downtown Jebel Ali - The Signet

Discussion in 'Dubai property' started by TommyC, Oct 29, 2008.

  1. TommyC

    TommyC New Member

    Looking to sell two offplan apartments in Downtown Jebel Ali for a very good price. What is the best marketing strategy? Have sent loads of e-mails to different agents, and also have it listed already with a few of them.

    Is Dubizzle a good place to use?
     
  2. shahid

    shahid New Member

    hi,
    to sell the property of downtown jebel ali will take time, the reason is the master developer Limitless has not delivered the plots to the developers, but dont misunderstand me, investment in downtown jebel ali not bad at all, its only development which needs to be started, and is been delayed by 6 months and will take atleast 4 to 6 months more, thats what my observation is as a real estate broker. good luck . shahid.
     
  3. TommyC

    TommyC New Member

    Thanks Shahid. I guess I just have to keep my eyes open for possible buyers, at least the word is out in the public (Dubizzle). As another friend, who is a real estate agent, said: "You shouldn't sell now, you should buy!" (Of course not all the inflated prices, but rather the bargains going on sale...)
     
  4. investor_from_uk

    investor_from_uk New Member

    Shahid, I wanted to ask you about off-plan property in general. I have a couple of off-plan flats in JVS, which are due for completion by the end of 2010. I have already given them to a few agents in UK, as I am from UK. However, I have been told that Dubai off-plan market has really gone dead. Is that true? I have also been told that there are no transactions occuring at all, as there are no buyers.

    Can I please have your view as that would be extremely useful.
     
  5. PropGuy

    PropGuy New Member

    That is not true, you can see the transactions everyday on dubai land department site. For off-plan they are not registered with land department so we don't know. But if transactions occuring for local only property than there should be for freehold too. Freehold is a bigger market.
     
  6. TommyC

    TommyC New Member

    Alright, the excitement that is at the moment is enough for me. I'm going for the 0% premium + 0,5% transfer to offload my apartments. That makes them available for the 7% summer offer discount which I managed to get hold of (lucky me). Anyone know any serious/mediumterm/longterm investors looking to get a bargain....here's one. Don't have much of a choice, the excitement to see what's happening is enough to make my regular day to day life tense enough to just want to get rid of them. Will lose a little money, but it's worth it for some good nights sleep, rather spend my time swearing next years that I missed out on a good deal than being miserable until then...

    So I can hereby, in first person, confirm that the current situation has made short-term investor drop their premiums to 0% to get rid of their property. What an, first-time-ever, entrance on the property market, lesson learned ;)
     
  7. investor_from_uk

    investor_from_uk New Member

    Just out of interest, how much is each of your apartments and when is the completion date? what development/building etc?
     
  8. TommyC

    TommyC New Member

  9. investor_from_uk

    investor_from_uk New Member

    Hey, thanks a lot for forwarding the details. To be honest, I would probably be interested but firstly, it's way above my league (and budget) and secondly, I still haven't managed to get rid of my own property.
     
  10. TommyC

    TommyC New Member

    Yeah, know what you mean, kinda cautios at the moment awaiting everything that happens. Good news that Obama got elected though, seems to create some worldwide confidence about things to come, and on top of that; I'm looking forward to see what the States will be like now :)
     
  11. investor_from_uk

    investor_from_uk New Member

    Quite frankly, the market will pick up in the next few weeks. The fundamentals in dubai market are very strong and with the demand for accomodation there, property will never be a bad investment there. The only issue is how long you can hold it for.

    Well, I have heard the same, that things are supposed to improve after the US elections. Hopefully, the results should bring some stability to the markets in general, which would then impact the property sector as well. States won't change much. The president can only do so much. There is a much larger state machinery operating there, which decides the overall direction. However, one has to admit that we really have witnessed history with a black president being elected. Although, I am not a great fan of the foreign policy of the US, I must admit that it is shown to the world that it is a true democracy, and more importantly, anyone can pursue his/her dreams there.
     
  12. shahid

    shahid New Member

    JVS resale of apts

    Dear, sorry for the late reply, actually , the problem with JVS re-sale is , its too much at the same time, but finally the construction has started in JVS and things are progressing in the right direction, and It will take atleast 6 months more, when you will see real activity in JVS re-sale market,,,why? for the simple reason, that there is a strong demand of "Buy to live in" and "Buy to rentout", so i think its a matter for time and once the property are heading towards the shell and core condition, the investors will start calculating the rental returns and genuine investors will take over the properties from weak and quick flip type investors.
     
  13. investor_from_uk

    investor_from_uk New Member

    Shahid, thanks a million for your view on that. You seem to have a good insight into the market of Dubai. But can you tell me how real are the chances of this market crashing. DO you think that there will still be rental demand in 2010, when there will be ample property in the market. At this point, the new international studio apartments are renting our for 55 to 60K, but by 2010 end, do you reckong we can get even 45K for these JVS apartments?
     
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