Dear All,

Hope some of you guys can shed some light on studios apartments that I have purchased on the Desert Rose development in Jumeirah Village South.

Details of the apartments are as follows:

Development: Desert Rose
Developer: Desert Home
Master Developer: Limitless
Location: Jumeirah Village South

The questions I have are as follows:

1) Can anybody tell me if they have heard of Desert Home and if so, what sort of reputation they have (I belive they have one other development in Dubai which they have completed)

2) I purchased the studios (424 sqft) at approximately 350,000 AED each. Does that sound like a good investment for this development/area ?

3) I have recently been told by the developer that the project was due to be completed by March 2008, but shoring had only started in March 07 and that they believed the project would be completed by June 08. Does this sound like usual developer talk or is this feasible (anybody with any recent news on progress at Jumeirah village south!) ?

4) Realistically, what sort of price could I expect from this sort of apartments now, and when fully complete (based on similar developments in the village) ?

Anybody able to answer any of the above questions will help me allay some of my fears as I live in London!

Thanks...
Mohamed.

I think you should have done your research before you bought. Unfortunately impulse buying by people thinking they can make a quick buck rather than a long-term investment is what is causing prices and rents to spiral out of reach for those of us who have to make a living here. One day the bubble will burst and I, for one, will not be sorry.

I Am from Dubai, the Price u purchased is very very high(Note if you bought in resale than this price is OK). If you stay overseas this is what happens. If you have some trusted person in dubai u should have gone thru him

Khalil Ahmed

Khalil,

It was from resale and via agents, so I knew I would be paying higher than purchasing direct from the developers.

I heard it has been delayed, and the completion is not due till next year, is this right?, have you sold your apt yet?.

1) Don’t know them.

2) Overprized.

3) You should be celebrating if get possession before end of 2009

Kelly,

This project and all others in JVS have been delayed due to the fact that JVS infrastructure works are delayed, but more importantly, lateness in handover of plots to developers by Limitless, so it is not just this project.

Having spoken to the developers directly, realistic completion date is currently 1st quarter of 2009. On a positive note, I can confirm that construction of the project has started and excavation works are currently going on. Desert Rose is one of the first developments in JVS to have started, so I'm hoping that they'll be one of the first to finish.

I've also been told by the developer, Desert Homes that they have only studio apartment left (which I believe is true as it's very difficult to find Desert Rose apartments for sale on other websites). I also know that prices have recently gone up, partly due to construction having started, capital appreciation, but also because they've nearly sold out of studios and Desert Homes are also Escrow compliant.

As for my studio, I still have my studio. Are you looking into buying into this development ?

Hope this helps.

Mohammad, If you purchased in 05- 2007 at that price , you could have purchased in Marina or JLT or Business Bay or Jumeirah.
But anyway,Let s hope that your patience pay you well , , , Still if you find good price , sell this one and go for City of arabia or sports city or IMPZ....I purchased 700 psf and now it is 895 psf ... this happened in 3 months ! ! ! Can u believe it ? ? ?

Yeah I am interested in buying, could you send your price please, and are you the first owner, or you u bought it through re-sale?.

Thanks
Kelly

Kelly,

I've just posted some information on your other post (please check my reply there).

I'll PM you the price with other details, if that helps you.