Does any one know more details about this particular upcoming launch at Dubai Maritime City.

Any views, recommendations, price indicators,
Any experience or knowledge of developer.

I saw only the advert no details

Hi!
Baani Group, India-based real estate development company, has unveiled their maiden venture, iDubai, a 50-storey residential twin tower at Dubai Maritime City.The realty development offers sky villas, apartments, commercial spaces and retail shopping area.
The twin towers, iTower and Sky Tower, offers best in luxury living. Sky Tower, inspired by the sky, will house sky villas offering one villa per floor. iTower takes inspiration from water and comprises of 38 levels with a selection of 1 and 2 bedroom suites.
The facilities at iDubai will include shopping outlets, dining options and terraced gardens. This real estate development at Dubai Maritime City will also feature swimming pools, tennis court, fitness center, club with spa, library, business center, guest suites and 10-storey parking etc.

DAMAC is also going to launch their first project in Martime City next week. Let me know if you are interested.

Baani unveils Dh1.5b Dubai project

21 July 2008

Dubai: Indian developer Baani on Sunday launched its first project in the UAE, valued at Dh1.5 billion in Dubai Maritime City, in conjunction with Gowealthy com.

The iDubai is located at the Harbour Residences of Dubai Maritime City and it comprises two 50-storey towers, the iTower and Sky Tower, offering residential and 10,000 square feet of retail space and 40,000 square feet of office space.

Baani president Virendra Bhatia said: "The opportunity we saw in Dubai...we felt a kind of scale that is not available in India."

Due to its sleek, slim shape, the iDubai is similar in design to the Flatiron building in New York City.

There is a seven-storey atrium, and five levels of podium parking in each tower. All the apartments will have sea views.

The iTower has seven one and two-bedroom apartments per floor. The one-bedroom units will be between 1,050 sq ft and 1,425 sq ft and the two bedroom units will be between 1,720 sq ft and 1,990 sq ft.

The Sky Tower has three bedroom sky villas, with one villa measuring 3,280 sq ft, on every floor. Each villa has an infinity pool.

Phase two of iDubai will include garden villas ranging between 3,200 sq ft to 4,100 sq ft and eight townhouses.

Source: Gulf News

so whats the expected price per sq ft? And is it worth it? I.e for flipping??

It's starting at AED 3,450/sq.ft - cheaper than other developers who have launched there, but I still think the price is a joke....it's more expensive than actually handed over projects in great location. this one is rubbish-the traffic is going to be a nightmare-I can't believe people actually buy there. I've heard that people are actually having problems flipping their property. The market is slow and the resale market in general is not shifting...

The problem is that as soon as people hear the word launch or pre-launch, they jump at it without knowing anything about the development. Then they try to flip it before the next payment is due....I just feel sorry for the poor bloke who ends up with a property that is hugely overprized and probably won't last for more than 15-20 yrs.

Flipping is becoming more & more difficult. Dhs 3,450,000 for a 1000 sq ft place is hard to digest.

Wonder how they will flip such over priced properties.

Regards

Roshan

aparently Damac's launch was a flop!!!

I was at the Emaar launch for 18 Burj Dubai Boulevard. The cheapest launch price was AED 2M for a 411 Sft apartment with views of SZR. This translates to about 5000/Sft which is about the standard price in Downtown Burj Dubai. Good for flipping.....heck no!

Always calculate before you spend. Don't just jump on the idea that there is a pre-launch and hence its a good opportunity. If a developer is selling you an apartment at prelaunch for say 3000/Sft and launches it officially with a price of 3500/Sft; don't feel happy that you payed 500/Sft less; rather feel sad that you potentially paid 500/Sft more since the actual sustainable price would not even have been 2500/Sft.

Smart investments people, make smart investments. If you want to flip, buy cheap properties, properties that everyone can afford. Thats the key to the game!