Damac? Which project is that in? PM me with details.

Thanks.

docc - thanks for that detailed post. It was helpful. But Im not so sure about 3,000 in BB byt this cityscape. Maybe expensive developers like Omniyat, but there are so many developers there.
How are re-sales for BB? What is the area is Dubai which has most activity for re-sale now?

Business Bay is a great long term investment based on the fact that there are still no dedicated commercial zones in Dubai other than DIFC which is limited in space. As long as there's 0 % income and corporate tax companes will locate offices in Dubai. Developers like Omniyat have placed a lot of towers here and for this good reason. But since there is no infastructure there, those developments ready in 2010 are the ones to go for and will see the greatest rise in premiums. If you want to know more about Omniyat's offerings in BB let me know.

What would be the prices for Omniyat offerings in BB.

REgards

Roshan

Omniyat is offer properties directly right now. Starts 3500/Sft while those that are creek facing have an asking price of AEF 7500/Sft. Absolutely ridiculous and untrue prices!

Where is the best place to find distress sales? Any good web sites for listing of uae properties?

Sameer,

There is no website listing distress sales. If that was the case, you wouldn't find any properties available there as they would get snapped up in seconds!

If you're a local, then open up the freehold papers and skim through them. I do that all the time and find atleast 10 distress sales every single day

Good luck.

Doc, I challenge you to show me where Omniyat are listing their properties for 7,500...pls let me know. If youcan't get me the proof of your generalisation then I suggest u apply for a job with Damac.

Why are you dragging DAMAC into this topic Junaidrafique?

Rammah

Hmmm, I seem to have stepped on a nerve there. There is no need to get that defensive my friend. As for that price I quoted, it came through the web. I will try to get the source for you however. Again, you need to take a chill pill mate :-) I have no personal interest vested in my statements. Infact I myself am looking at buying office space in The Opus :-).

Regards.

Edit: Found the link: http://www.skyscrapercity.com/showth...=423124&page=6

Please read post 107 and thereafter. Direct quote:

"683.94 sqft 1bdroom is listed at 3077730 AED and Omniyat says 1bd rooms are sold out, which is at 4500AED/Sqft

they are selling 1bdroom lofts for 7500 AED/sqft"