I guess you know by now that DAMAC is launching for 2500 per sqft, and providing 10% off (so 2250 per sqft) till end of Month.

I do not know about you, but this is way overpriced. One of the most expensive locations in UAE, Palm Jumeirah, has a going rate for 2000-2200 per sqft for apartments, but this is for an established and well branded location around the world. This iconic place can not be compared with Al Reem, at least not now.

Have you seen the pictures of AL Reem? It is almost empty except for some developments in Marina square (going rate between 1300-1700 per sqft for resales), so Al Reem is at least 3 years behind Palm Jumeirah.

So, what is the logic? You tell me. It seems better to buy in Marina Square, because this is a complete project, with shops, restaurants, sports, etc.. and also finished much faster than Damac building, and much cheaper, better located to main AD island, etc..

Again, I will be amazed if people buy into a tower on an empty island for the inflated price of 2250-2500 per sqft. Please could someby respond that has bought into this new Damac tower, and the reasons why? This tower will take at least 3 years to complete (even longer I think if you look at Damac delays elsewhere).

Do not get me wrong, if people buy these steep prices, I am happy, so hopefully my Marina Square investments will profit from this inflation, but I am also fair, I think, these prices for Damac are beyond good reasons for the UAE market.

Perhaps it is a Britisch scam to control the AL Reem prices (many agents are from the UK).