I'm thinking of investing in to a new style of property investment.
buying car prks in Business bay.
it looks very lucrative, and very cheap entry price -one car park is 100,000dirham
the agnt promising 35%-40% per anum. I feel like it is going to be a great investment as when people buying an office or appartment in BB they only getting one or two parking spaces and they for sure will need more as in an office there are more thn only two employees that will need carparks.
anyone have any comments about this new investment idea before i go and do it?

Have you got more details? Who is selling? Guarantees? Who will organise rentals? etc etc

the company that offer this deal offer it as a fund.
I will have to put my money in and than give them the aouthority to handle all purchases rental etc in my name.
Fund Term: April 30th 2010 – but there are exit options.
Fund Size: 20,400,000 AED million.
they say they are buying car parks in the most busy key location in bb and that during construction period(they are buying in development that is under construction) the car park that I buy for 100k dirham will be worth 150k-200k within 2 years.
they send me all the investment logic etc and it looks reallly good and the exit plan is good as well. I think this is the best way to invest in bb for someone with lower amout of cash like me.

I've sent you a pm with my email address. Please can you send me details? Many thanks.

sure i will send you a pm back

you should also read the T&C in FULL specially the samll font ones, who's the fund manager for this one?

I have two car parks in Business bay which are close to a building direct at the entrance of BB -the building is ready 2009. For 100.000AED i can sell you one if you are really interested!

Actually its a good and innovative idea to do business,the logics are right.but the concepts is not supported by any legal provisions.Like R u getting any type of Ownership on it? Is it possible to lease it out separately, what is the exit strategy? etc

exit stratedegy is (i copy and paste)
Exit Options:
Although the Fund is being structured as a two year investment, we intend, on a best endeavours basis, to invite 'new'
investors into the Fund from the date of the Funds first Anniversary. An estimated end year one value is 120,000
AED – and we would not expect any problem in attracting new investors at that new 'entry price'. We ultimately
expect the car parking slots to be worth 150k - 200k AED each – thus allowing any new investors considerable
upside. Prices at the end of the first year should reflect a) the development being one year closer to completion b) car
parking prices in Dubai rising with market demand/shortage c) some car parking slots could be sold to office/floor
owners, through the Developer and d) ad-hoc sales/rentals will be transacted where appropriate. Where any
sales/new money is received there will be a dividend/capital repayment made to Investors. This type of asset is highly
liquid!
Fees: We will take no fees at point of entry but be entitled to 10% of any profit achieved at point of 'exit'. We will also
take no fees if the Investor does not get a minimum of 20% per annum from the Fund / Investment. In the event that
an Investor does not 'en-cash', there will be a fee payable at maturity of the Fund, that will be equivalent to what would
have arisen had he/she cashed in his/her investment. There may be legal and other 'structure' fees of approx 1% of
the fund.

the more i look at this i like it more

pm me the details --be sure of the small print . ask the gusy whats teh catch
right away dont be scared be unashamed its ur money they want they are not doing u a favour so scan the whole thing with a fine comb and see

PM me the details ill tell u wether its worth or not