Elite 6 is launching soon and I have recieved information from many agents. They say its a flagship project and the average prices for the studios are 1200 dhirams per sqf. Is it a hype up of the project or is it a good buy? They say like previous projects this is going to be sold out in 5 days, any comments?

Dear Jags,

Please post the information you received such as floor plans ,payment schedule, nearby developments, etc. It would make it easier to comment then


Regards,

Alex.

I got the same email > What do you all reckon? Is it a good buy?

After huge success of the sell out Elite 5, we are delighted to announce that we will be launching Elite 6 " ON THE LAKE " In 3-5 days

I hope this email will allow you all time to get your preparations in place, and prepare in advance . As most of you will know, traditionally Elite Sports residences sell out within weeks.

"ON THE LAKE" will be the Flag Ship of the Elite Sports City Series with nothing between the building and the water -
BEST LOCATION SO FAR


The average sq ft price for studios will be approx 1200 AED per sq ft with an average size of 535 sqft
The average sq ft price for 1 beds will be approx 1100 AED per sq ft with an average size of 1020 sq ft.
The average sq ft price for 2 bed will be approx 1000 AED per sq ft with an average size of 1800 sq ft

The building will be a G+19. Fully Furnished, with all the usual extras.
For those of you who have a Dubai Sports City master map the plot No. is R3A-19.

Anyone know where i can get a Dubai Sports City Master Map?

Folks,

There are a number of interesting launches taking place in Dubai. Here is one - Dubai Waterfront.


And here is the link to the sport city map. http://www.dubaisportscity.ae/wp-con...eprint-map.pdf

I can`t really comment much on new Sport City development at the moment due to the fact that I have to eat my dinner Might post later on.


Regards,

Alex,

i have received the same email and also phone calls to book the apt in advance so that it can be reserved as soon as it is launched.how can be price 15% higher than one launched just three weeks ago.

Prices shot up too crazy and I advice all investors to look for some re sale advertisements also, You might find some distress sales in Sports city.One year ago, things were being sold at 650 PSF and if somebody wants to sell it now will look at something like 850 to 900 PSF which will be fare enough.I know some friends got very good deals like this.Basically research is the KEY.

Don't know much about the developer who is from Pakistan. No bank finance. What about Escrow account ??. Previous track record not aware of.

However 1200 dhs is the cheapest one can get. For a 535 sq ft which I preseume is gross, while converting to nett at 15% less usually ( could be more ) then the actual usable space is 535 x 0.85 = 455 sq ft for a price of Dhs 642,000. The actual price on nett area will be Dhs 1410 per sq ft. But I guess every developer in Sports city must be selling on gross.

Conclusion :

Dhs 1200 is the cheapest you can get.

If what the developer claims that the bldg is facing the lake ( check, it could only be a stream ) then it would add value to the property.

Track record of developer ??. He has launched 6 buildings not delivered any so far.

Check if the bldg is covered by an escrow account.

Note :

Deeyar is launching 3 buildingd in DSO. Deeyar is a good developer and their properties usually do well...BUT...DSO is leasehold for 99 years and not freehold.

I would put my money on a developer like Deeyar or any reputed developer. I would not touch anything where the developer does not have a track record - OR - Financially strong. Pay little more and have peace of mind. When good properties come into the market, they command a higher price then the other buildings, so paying that extra bit is always worth.

Regards

Roshan

Couple of friends got good deals recently in sports city at 850 and 750 AED PSF for 1 Bed.
One should keep trying and keep searching.
Always remember a spider when you feel tired.It never get tired.Real Estate is a mind business with alert minds.

I have 1bed at 935 AED in sport city, with water view. pm