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Warsan Estate Cancelled?

Discussion in 'Dubai property' started by sasherwani2, Oct 21, 2008.

  1. sasherwani2

    sasherwani2 New Member

    Is there any truth to this news? I have heard from a lot of people that Warsan Estate is about to get cancelled. Its a great project but has been under some controversy lately.
     
  2. georgihh

    georgihh New Member

    They cannot cancel for the simple reason that if they cancel the game is over and the market will sink. This project they can modify, relocated or discounted, but if they cancel that’s mean a lot more project to follow the cancellation and Dubai is dead.
     
  3. warsan

    If warsan gets cancelled it wil be good news for most of the people who bought at launch as hardky anyone could flip it! but one this is for sure emaar is willig to be felxible on the payment terms the next instalment of 15% they are willin to break in to 3 montly instalments of 5%
     
  4. georgihh

    georgihh New Member

    They have to reduce the prices by 20-25%.
    In this way the flippers, the investors will be happy and Emaar will make
    300% profit not 400% as previously planed.
    If they don’t do this and cancel the project the flippers will still loose money on paper work procedures and interested which is not good for the business.
    I think they will slash the prices in the coming months
     
  5. sasherwani2

    sasherwani2 New Member


    I doubt it, they are too greedy to do that. But one thing is for sure, if they repossess the properties from the current investors due to uncollected payments, noone will EVER purchase Warsan again if they put it up for resale. Simply because of the bad publicity it will get.
     
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