Sports City / Shami Tower

Discussion in 'Dubai property' started by chopperjohn, Nov 19, 2008.

  1. chopperjohn

    chopperjohn New Member

    Hi!

    I'm just looking for some information about this development (Shami Tower, Sports City), at what stage is it at now?

    Whats the market like in Dubai at present? Any information would be a great help.

    Thanks

    John
     
  2. JOHNNY-D

    JOHNNY-D New Member

    Shami Tower is one fo the best projects in Sports city, i regreted that i couldn't buy a unit there when they launched it in the first place :(
    this project belongs to Brouks, they are good, i guess.
     
    Last edited: Nov 26, 2008
  3. abudubai

    abudubai New Member

  4. BDotADot

    BDotADot New Member

    fortunate for you i am selling my unit, well below market value (is there a such thing as market value any more lol) you cant contact me on my email if you wish midhaiebizb @ yahoo dot co dot uk

    its a good development, reputable developer. 1 which seems to be pulling through this crisis
     
  5. shamim

    shamim New Member

    Does any one know of the progress of shami tower dsc
     
  6. mpat

    mpat New Member

    yes, they are building. I think they are at 2nd floor level.
     
  7. memo123

    memo123 Member

    Hi, how much have the investors paid so far in instalments and has shami towers offered any discounts to convey the lower cost of construction to investors . Also what are the prices like now in sport s city?
    Regards
     
  8. chopperjohn

    chopperjohn New Member

    Sport City / Shami Tower

    Hi!

    Has anyone purchased their property from KMM Properties? What % of the money are they looking for from everyone else? They are telling me that Shami Tower is finished and they want payment up to 97%?

    Any information would be great help
     
  9. mpat

    mpat New Member

    shami tower in sports city is not finished, and no way near finish..... may be they r talking about ajman one , i think ther is one shami twin tower in ajman emirates city ! ! !
     
  10. chopperjohn

    chopperjohn New Member

    Thanks Mr. Pat,

    You were right Shami Tower is no where near completed, its only on the second floor. I am looking for advice with reference to this development and Dubai as a whole.

    Am i better off to just sell my property there or rent it out and wait for the market to get better?

    Can i even sell my property there?

    How is things in Dubai?
     
  11. mashka

    mashka New Member

    We have also purchased at Shami Tower and are quite confident that it will get finished, but probably late 2010. I wouldnt panick that it is behind schedule EVERYTHING is in Dubai and the slowdown in the market has made it even worse. On the upside, Sports City looks like a development that the government are well behind and in a few years has the potential to be one of the premiere locations in Dubai. Hang in there !! Even if you cant sell at the moment, you should have something that will easily rent in a few years. Dubai has hit rock bottom so the only way is up. You could have purchased in Spain3 years ago and watched the value go down by 50% . Dubai is still a quality location and will bounce back ! Eventuallyyyyyyyyyyyyy
     
  12. ssanner

    ssanner New Member

    Shares hit by Dubai debt problems


    Well I don't mean to be the bearer of bad news but I would rather be invested in Spain than Dubai at the moment. The government of Dubai is bankrupt and this article is the proof that they can't repay their debts and are in effect defaulting. I don't think the real estate in Dubai has seen the bottom yet. Based on official statistics, House price change YoY % for Spain is -8% (nominal) compare to UAE -47% (nominal). you will find the study on Global Property Guide website.

    I don't think the rental market is doing any better because Dubai is loosing a lot of people (expat) due to business closing shop. I think it might take between 5 to 10 years for Dubai to recover.

    Interesting to read today on BBC website that against all thoughts Abu Dhabi (the one with the petro dollar) isn't backing-up Dubai yet and certainly not prepared to bail them out. The stock markets are all taking a bitting due to this shock news.
     
  13. j duffy

    j duffy New Member

    Has anyone bought an apartment in Shami Tower from KMM Internation Properties? Is this company still trading as I have not heared anything about them in for a while?
    Also does anybody have any updates on Shami Tower? Please get in touch.

    Regards
    John
     
  14. chopperjohn

    chopperjohn New Member

    KMM Propereties

    I have also purchased my property from KMM Properties, is this company still trading. Any information would be great.

    thanks
     
  15. j duffy

    j duffy New Member

    Shami Tower

    Thanks for reply,
    I did not hear from them in about two years just after they closed their office in Ireland,so i got in touch directly with Brooks to see if they paid over money which i gave to them for installments for my apartment in Shami Tower which they did,i then asked brooks to send me my contract for my apartment which i received late 2008. Thats all i can tell you, is work still stoped on Shami Tower or have you heard anything about this project.
     
  16. Mighty

    Mighty New Member

    Does any one have any further updates or have any of you forum members know if any monies have been paid back to investors, or if there is a group of investors the activley discuss this subject
     
  17. wolfman 1

    wolfman 1 New Member

    shami-towers sports city

    Last week I have been told that Brouks Real Estate does no longer exist,and
    nobody can get a hold of them. I did buy an appartment from them,it seems
    like I have lost a lot off money. My lawyer is already taken legal actions.
     
  18. Mighty

    Mighty New Member

    What advise has your lawyer given you, I have bought two appartments and have no idea what to do, your help and any advise would be greatly appreciated
     
  19. Journalist100

    Journalist100 New Member

    Contact me

    Chopperjohn,

    I'm looking into Shami Tower and KMM. Can you drop me an email please? It's colin.coyle@sunday-times.ie
     
  20. Journalist100

    Journalist100 New Member

    Kmm

    John,

    I'm trying to speak to people who bought property from KMM in Dubai? Can you drop me a mail with your details please. My email is colin.coyle@sunday-times.ie

    Colin
     
  21. Banofee

    Banofee New Member

    Kevin McGeevers was recently arrested, it's been in the papers.
     
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