Hi guys, i have a 902sq/ft unit for sale with parking, the unit is at the German technology tower 1, the developer is pyamod.

DETAILS:

I bought this unit on june 2nd 2007, total price including parking is 752 786 aed (£104466.55), my initial 10% deposit was hence 75300 aed excluding bank charges at a rate of 7.206 aed (£10449.63 sterling). Cost per sq/ft was 780 aed approx

This developement is now practically sold out with the exception of 1/2 larger units on the higher floors and current cost per sq/ft is now 1000 aed, valuing the unit at 902 000 (£118940.56) aed and my initial deposit at £11909.60 rate used via oanda.com 7.58362

Initial deposit was paid immediately and the unit is now up for resale via pyamod in dubai, i HAVE NOT paid the 2nd deposit which was due 7th september due to new laws in dubai highlighted in the following article:

Escrow Law - Dubai’s new regulations for the sale of “off-plan” units, Clyde & Co international law firm

The developer is fully aware of this and no action has been taken and all correspondence is amicable at this point, upon receipt of the following information i will be making the 2nd deposit, the developer is also actively looking for a resale of this unit on my behalf.


1. Who the contractor is..
2. When will construction start..
3. When is completion..(tentative date on purchase was december 2008)

According to the developers website planning is now complete for this tower.




Pyamod Dubai Properties

The developement is currently on a 99yr lease BUT i was advised last week it will become freehold by the end of the year.

Potential rental income i was advised at purchase of approximately £20000 per annum.


Further information can be obtained from myself and the information on the developement itself at the following links:

PYAMOD :: Dubai

Dubai Silicon Oasis Authority

I am a private seller and look forward to hearing from any interested parties forthwith..

JUST TO CLARIFY I AM LOOKING FOR SOMEONE TO TAKEOVER THIS PURCHASE FROM ME, PAY MYSELF THE CURRENT VALUATION OF THE DEPOSIT OR NEARABOUTS AND BECOME TITLE HOLDER, FURTHER PAYMENTS WOULD BE MADE AS PER SCHEDULE TO PYAMOD DIRECT OR AS AGRRED WITH THEM, THERE IS A 2% TRANSFER FEE OF THE TOTAL VALUE BUT I'M CONFIDENT THIS WOULD WAIVED BE OR NEGOTIATED LOWER.

Ahmed - + 44 7970 680 348

This is still available and now im not looking for a premium, just my 75300 aed deposit to take over contract..