Hey,

How about Dubai members meeting in Dubai over a coffee and discuss real estate. It's good to exchange views and discuss.

Just a suggestion.

Regards

Roshan

Roshan,
That s a brilliant idea. I remember similar thing been done by members of emirates city in Ajman 3 or 4 months ago.I am ready for that.
thanks for a good idea,I suggest you to start a new thread inviting all dubai based members to give their openion on it.
Bye

hey all,
anyone has any news about the Giovanni (sport city)? it should start in oktober .
thank you

Mehdi
Do u have exact location map of giovanni?
I m planning to go to Sports city on thursday,Try to get it from the developer and forward to me if u want me to check at the location.As per my previous understanding of the location,its nothing going on at present.my e mail is imlaq_ahmad@yahoo.com

Mpat

Please do you think you could have a look & see if they have started anything for Eden Gardens, I know it has been fenced, but would like to know if any digging has begun.

Many thanks

Your delay could be due to the municipality approvals, but take heart. Lokandvala are good developers and the quality of construction is expected to be good.

Look at it positively, what's the point in having the building up and not having the infra structure in place. I do not see any roads in sports city ( correct me if I am wrong ).

I was happy when I was told that project in Business Bay was delayed. Firstly because it gave me breathing space on the payment as the finance expected did not work out and secondly the business bay infra structure and electricity power requirements might be a problem. Dubai is not geared to supply so much power at this stage.

I attended the International real estate exhibition in Dubai and one of the developers was saying that the master developer actually told them to slow down their pace of construction because of infra structure and power problems. Now I do not know how far that is true but I would definitely see sense in that even if they said it. A few of the buildings in Discovery gardens ( so I hear ) are not handed over because of power issues.

At this stage your concern should be quality of construction which I do not feel will be a problem as Lokandvala's are premier developers in India and they will not tarnish their reputation because of their first project in Dubai. Being the first project they would like to do a good job of it and compared to the volume of construction they handle in the Indian market, this is like a drop in the ocean.

So then relax, fasten seat belts... that's my advise.

Regards

Roshan

What an immature statement

Most of the people in this forum want quick turn over of their money and they
Don’t buy properties just to have them and wait for five years.

Regarding the slow down this is a bad news as this means the following:
- The market cannot accumulate the existing speed of the developers and they will reduce work force and spending power
- With all the building being delivered in Dubai, I am afraid that a crash is on the way
- if this is really happening I think ALL the people who have bought at Eden gardens want their flats ASAP

Depends on which side of the fence you are on.

Option 1 :- There are some investors who buy to rent. I happen to be one of them. With such a model as long as you are on positive cash flow which I reckon I will be, then one should not be worried. I would like rental income coming in every month. I have structured my investments in such a way that even if commercial rentals coupled with my residential rentals should fall to Dhs 100 psf which I forsee as unlikely. I would still have a positive cash flow of Dhs 10,000 per month, not forgetting the appreciation of the property during the construction period. There is nothing immature in this kind of investment.

Option 2 :- What you are saying is right for people who intend to flip which is another investment model. Here you buy and get out when you feel you have made enough. Nothing wrong with it for sure. Quick returns, no emotions involved.

Today Canal Hub @ sports city is selling at Dhs 950 to 1000 psf, I just bumped into a Falak stand today. When the full infra structure comes in place, you probably might be looking at Dhs 1500 psf if not more. If Diane H bought her property at Dhs 750 psf ( which were the rates some time back ). You are looking at a 100% yield on your investment by holding on for a few more years. isn't it worth it ?.

Real estate has proved benificial when you hold onto it. If you have entered at the right time, you can be assured of your returns even if the market corrects. If you have entered at an all time high then you should be worried. Sports city is still OK to buy I feel.

I am no expert. I just posted what I felt. It could be right....could be wrong. No offence meant.

Regards

Roshan

Much better statement
Now we talk business
I don’t know where you come from but Dubai is nothing special
People made money from properties for the last 5 years all over the world.
For example in India some people triple their money in less than 3 years after tax ,for just buying and reselling properties.
The difference between Dubai and the rest of the world is that Dubai is full of surprises
Like the shopping festival. But the surprises can be very harsh some times. At the moment the government is trying to cool down the Dubai boom with very strange tools. They know that the property business won’t last forever and they want a real business, but the real business means real life and this is not happening in Dubai.
How long is it going to last, I think is going to an end.
What next?
Next is that the people who have bought in Eden garden will suffer a big loss.
Dubai is heating up and needs to be cool down.
If this doesn’t happen the engine will blow

And who is going to fix the engine – the people who have bought in Eden gardens

From the looks of it, your investment model is flipping. Dubai is not a flipping ground anymore. Prices have shot up and anybody buying blindly could get into distress.

Nobody can predict property markets. Nobody knows when they will move down, neither you nor I or for that matter the best property gurus in the world. I do agree that the markets are over heated but investors who have bought sometime back should not see any harsh repurcussions.

I would still invest in Dubai as I follow the cash flow model and as long as I am on positive cash flow in terms of rental VS EMI, I do not care if the markets crash. correct or fall. Property markets are cyclical and eventually will come up. People might have made money in the last 5 years and will still make money if they are willing to go long term with their investments.

There are risks in real estate. If you have your numbers right, nothing can go wrong. Population is increasing but land isn't and as time passes land is going to be more dearer and dearer.

Dubai sports city will do very well when the full infra structure comes in. I have not invested there but it is on my list for later this year. Don't forget the acadamies coming up. Dubai will be competing with the world for international events and they will go all out for it.

For investors who are willing to hold, Eden gardens will do well. For those who cannot hold and are uneasy, then the only choice is to quit. If I were an investor in Eden gardens and if I had bought it sometime back, I would not be too concerned about it.

I still stand by the fact that real estate tends to do well in the long run. If one feels that Dubai is going to end, then they should not be investing in Dubai and should try other emerging markets.

Define real life if it's not available in Dubai. I have been in Dubi since my birth and I have enjoyed the comforts this place has to offer.

Dubai is not trying to cool down the market with strange tools. I don't know what you mean by that. They were not prepared for such a boom and that's why they cannot handover buildings to investors because there is no power. There is no such hidden agenda by the Govt as they have better things on their mind.

Dubai investing is not like before where you bought and could sell and make money. Now one has to use brains and not buy blindly.

Regards

Roshan