Originally Posted by New_Investor

Hi,

i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
Up to 95% financing available from Tamweel
On the spot approva
located at the intersection of Emirates Road and Al Ain road
Freehold property ownership
One, Two, and three bedroom apartments
Units priced from AED 334,000 to AED 1.07 million


Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

Appreciate your advice
Thanks
Hesham

Originally Posted by New_Investor

Hi,

i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
Up to 95% financing available from Tamweel
On the spot approva
located at the intersection of Emirates Road and Al Ain road
Freehold property ownership
One, Two, and three bedroom apartments
Units priced from AED 334,000 to AED 1.07 million


Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

Appreciate your advice
Thanks
Hesham

Originally Posted by Roshan

Mazaya is a good developer. Que point is opposite academic city. You will have a lot of students looking out for places. What more can u ask for.

1 BDR would be a good investment.

What are the current rates, pls let us know.

Roshan

Originally Posted by qam

Hi

who is selling this to you?? website??

check out if the project is registered with RERA at Land Department
u can also check out if the project is registered too

regards

qam

Originally Posted by New_Investor

Hi
thanks for the tip. i searched the RERA - Al mazaya (developer) is registrerd, however the project (q point) is not.

what is the risk of buying a non registerd project?

Originally Posted by qam

hi

the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

qam

Originally Posted by Roshan

Since the project was started long time back. I do not think it's covered by Escrow ??.

Roshan

Originally Posted by Roshan

Just to quote on my own post.

After a meeting with RERA, I understand a mandatory trust ( Escrow )account has to be opened.

As per Escrow pls note that payments should be made to the trust account and not directly to the developer.

RERA is dead serious on this and it's only a matter of time before the full thing is streamlined.

Regards

Roshan

Originally Posted by qam

hi

the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

qam