?

Would you invest in this project?

Poll closed Jun 25, 2008.
  1. Yes

    3 vote(s)
    37.5%
  2. No

    2 vote(s)
    25.0%
  3. I Dont know

    3 vote(s)
    37.5%
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Queue Point - Mazaya @ Dubai Land - to invest or not?

Discussion in 'Dubai property' started by New_Investor, Apr 26, 2008.

  1. New_Investor

    New_Investor Banned

    Hi, :)

    i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
    Up to 95% financing available from Tamweel
    On the spot approva
    located at the intersection of Emirates Road and Al Ain road
    Freehold property ownership
    One, Two, and three bedroom apartments
    Units priced from AED 334,000 to AED 1.07 million


    :confused:Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

    Appreciate your advice
    Thanks
    Hesham
     
  2. mpat

    mpat New Member

    Mazaya is a good developer and for sure it wil ldeliver good returns.... and work out well.
    bye
     
  3. New_Investor

    New_Investor Banned

    Thanks for the reply, but could you please explain more why do you think it's a good developer? and why it would yeild a good return?

    Thanks
    Hesham
     
  4. mpat

    mpat New Member

    Becos MAZAYE is a reputed developer from kuwait ( I think from kuwait or qatar ) and has delivered good projects in UAE and is attached with TAMWEEL and other reputed finance houses who generally dont attach anyone with them just like that.I was trying to invest there in the beginning but somehow could not happen, just last week a friend of mine bought the whole floor. fyi.
     
  5. New_Investor

    New_Investor Banned

    Thanks for the help :D
    how much was the floor price PSF?
     
  6. mpat

    mpat New Member

    I think it was 950 PSF
     
  7. Wannaberich

    Wannaberich New Member

    Go to 'Masterplanned Projects by Mizin' then 'Project Liwan'
     
  8. New_Investor

    New_Investor Banned

    Found it, Thanks it's really helping to make a good idea about the situation.

    Well, every thing looks ok, i mean it's a reputable Developer who has a tie with TAMWEEL, Strategic locatin, good quality building !!!! :confused:

    so what's the catch? why the prices are so low, i dont like deals where it's too good to be true?!! sorry for being extra cautious, but it will be my first realestate investment and i'm little bet wired up! :eek:
     
  9. mpat

    mpat New Member


    The reason of low prices is a bit unknown, but for sure , investors will reap goood rewards there......
     
  10. mpat

    mpat New Member


    Hesham

    I was at the site yesterday after reading your posts and want to tell u that construction is going on there,. ,. ,. I will try to psot some pictures tomorrow or day after...The reason for delay should have been the delay in handing over the plot to the developer...
    Bye
     
  11. Roshan

    Roshan New Member

    Mazaya is a good developer. Que point is opposite academic city. You will have a lot of students looking out for places. What more can u ask for.

    1 BDR would be a good investment.

    What are the current rates, pls let us know.

    Roshan
     
  12. qam

    qam New Member

    Hi

    Hi

    who is selling this to you?? website??

    check out if the project is registered with RERA at Land Department
    u can also check out if the project is registered too

    regards

    qam
     
  13. New_Investor

    New_Investor Banned

    It's a resale with really low premium of 5% the price is 900/sqf
     
  14. New_Investor

    New_Investor Banned

    Hi
    thanks for the tip. i searched the RERA - Al mazaya (developer) is registrerd, however the project (q point) is not.

    what is the risk of buying a non registerd project?
     
  15. qam

    qam New Member

    hi

    the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

    qam
     
  16. Roshan

    Roshan New Member

    Since the project was started long time back. I do not think it's covered by Escrow ??.

    Roshan
     
  17. New_Investor

    New_Investor Banned

    I tried to contact the developer for sales inquirey but they didnt return my call back, which is something that i dont appreciate, first impression is not really great so far!
     
  18. Roshan

    Roshan New Member

    Just to quote on my own post.

    After a meeting with RERA, I understand a mandatory trust ( Escrow )account has to be opened.

    As per Escrow pls note that payments should be made to the trust account and not directly to the developer.

    RERA is dead serious on this and it's only a matter of time before the full thing is streamlined.

    Regards

    Roshan
     
  19. New_Investor

    New_Investor Banned


    will this also be applied on older projects like q point?
     
  20. Roshan

    Roshan New Member

    Very soon all projects in Dubai will be covered by Escrow.

    Regards

    Roshan
     
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