Property Swap in Dubai

[amalho27]

Some developers are offering ready property against the payments made by clients towards projects which have not taken off. Many projects in Ajman / Dubai Sports City / Dubailand can be swapped for ready (or near ready) projects in TECOM / Dubai Marina. This is good news for people who have lost all hopes. Atleast some rentals can start coming in due course...

 

[metlofts]

My advice would not to trust a deal like this especially if it has anything to do with UK Capital Investments!

 

[amalho27]

The deal is simple - payments made towards stalled development/project is
adjusted against a bigger (completed) unit and the keys handed over @ abt 50%+ payment towards the new property - so rentals can start immediately as well.
It is not from UK Land Investment ...

 

[cpt29]

This is constructive criticism but why would anyone buy in Sports City in the current climate. Why?

 

[amalho27]

Propertt Swap in Dubai

If the payment that you made towards stalled project is adjusted against a ready project in Marina/Tecom (keys @ 60% handover - you can put the apartment on rent right away) and title dead @ 100% - does it really matter why they are buying Sports City n Ajman !

 

[cpt29]

Which properties in Sports City?

 

[amalho27]

As per my last communication, they will look at any undeveloped project. Swap will be for a similar size apartment with a ready apartment. So for eg. if you have paid say 40% @ 1000 dhs/sq ft on 1000 sq ft 1 B/R (unfinished project),it can be swapped for 1000 sq ft++ finished project by paying the difference. Let me know your project and I can check for you...

 

[botchwemah]

dubai swap apartments

I have contacted a company, but they will only credit you with 40% of what you have already paid and you have to come up with the rest. If they then secure the rest of the payment from the previous developers, they will give you 75% and keep 25%.

Is this a good deal?

 

[Veronica]

These so called swap deals are just another way to get more of your hard earned money out of you. Not worth the paper they are printed on.

 

[memo123]

It is all a big scam

These so called swap deals are just another way to get more of your hard earned money out of you. Not worth the paper they are printed on.

just tell them that u paid 100% of the price wud they swap it for u ?
NO they want new cash and it is not a swap or any

 

[botchwemah]

Ajman property swap

The property is orbit tower, R holding are the developers. I have paid 55% of the value. It was supposed to have completed in 2009

Do you know know the developers?

 

[botchwemah]

swap properties

have you done any property swap yourself, if so can you advice

 

[botchwemah]

swap properties

The project is Orbit tower, and the developer is R holding. Any information will be welcome

 

[ams-uae]

If this is not another scheme to get more money out of us and they are really interested in resolving the property deadlock that they have created for the buyers, then they should swap like for like and accept shared ownership e.g. if 5 people have paid 150K AED each, then the honest developer would offer them a 1/5th ownership in a ready to move in apartment which has a market value of around 750K AED, less any admin fees etc. and come to an agreement with the government with regards to the land etc for the developments that will never happen.

Anything else is yet another scheme to force more money out of us.

How about it? Any honest developers out there?

What about the UAE Government? Does the UAE government not realise that the only way of restoring customer confidence is to back up a scheme like the above?

 

[botchwemah]

Ajman property swap

I suppose we have to wait and see....ARRA ask me to take my case to court, has anyone taken their case to court?, if so, can they advice

 

[M3Master]

I have been offered an even swap by my developer, as in i would not be committing any further capital, yet receiving full ownership of a unit that is already built. does anyone see any danger signs here? any potential loopholes?

 

[botchwemah]

Ajman property swap

May l ask who your developer is>, and what you did to get the swap done, successfully

 

[James Greg]

Some developers are offering ready property against the payments made by clients towards projects which have not taken off. Many projects in Ajman / Dubai Sports City / Dubailand can be swapped for ready (or near ready) projects in TECOM / Dubai Marina. This is good news for people who have lost all hopes. Atleast some rentals can start coming in due course...

It is true that there is swap in Dubai property. I have also read much about it and found that Dubai Marina, Downtown Dubai and Business Bay are the places where investors have great chances to increase their revenue by starting rental apartment business. Mostly customers and investors are taking interest at this side.