Damac Launch at Maritime City

dubaizone · #1 06-08-2008, 11:26 AM

I heard Damac has launched today at Maritime City and the opening prices were almost 4,800 per sq.ft. Is this true? I think the prices are too high - does anyone know if this was sold, especially during the summer which has been so slow until now.

DubaiDMC · #2 06-08-2008, 11:59 AM

Quote:

Originally Posted by dubaizone

I heard Damac has launched today at Maritime City and the opening prices were almost 4,800 per sq.ft. Is this true? I think the prices are too high - does anyone know if this was sold, especially during the summer which has been so slow until now.

i have heard many units have been sold at launch and also pre launch. many developers have launched on maritime city lately.

andyk2 · #3 06-08-2008, 12:07 PM

Quote:

Originally Posted by dubaizone

I heard Damac has launched today at Maritime City and the opening prices were almost 4,800 per sq.ft. Is this true? I think the prices are too high - does anyone know if this was sold, especially during the summer which has been so slow until now.

Prices start at 4860 per sq. ft, with discounts of up to 15% available.

dubaizone · #4 06-08-2008, 12:30 PM

Quote:

Originally Posted by andyk2

Prices start at 4860 per sq. ft, with discounts of up to 15% available.

is it worth it to buy there? prices are the higher there than any other development in Dubai currently. Any opinions??

MyDamac · #5 06-08-2008, 06:30 PM

dubaizone, for more information please click here

kashh · #6 07-08-2008, 09:13 AM

It was a flop!

New_Investor · #7 07-08-2008, 11:58 PM

Quote:

Originally Posted by dubaizone

is it worth it to buy there? prices are the higher there than any other development in Dubai currently. Any opinions??

I was at the launch event and it was pure and simple ridicules event - prices going mad, 5200 AED for residential, 6600 AED offices and 8800 retail, discounts offered are classical DAMAC SCAM of 15% full floor, 10% Half floor and 7.5% individual units, i recall that when they were announcing the prices all the audience were smiling and whispering in sarcasm

heh - I've bought in maritime city 40 days ago in IDubai and the price was 3150 only !

any way it's again classical DAMAC strategy of ridicules mega expensive prices covered by illusive advertisements and PR, most of the investor left right after dinner ( heh), i actually overheard Damac sales people saying to each other that now that every one had their dinner they will just leave !!

one of the sales approached me and out of curiosity i got some info - they are only releasing 2 podium floors and floors 12 & 14 (which they couldn't sell at the prelaunch i guess)

any way it was total waste of time !
after all i doubt that they sold even 5% of what they have.

Roshan · #8 08-08-2008, 09:27 AM

Quote:

Originally Posted by dubaizone

I heard Damac has launched today at Maritime City and the opening prices were almost 4,800 per sq.ft. Is this true? I think the prices are too high - does anyone know if this was sold, especially during the summer which has been so slow until now.

Too high...and yes, you will still have people buying because they can try and flip.

A simple analysis.....for a 1000 sq ft apartment ( usually the size of a 1 Bedroom ), does 4.8 million make sense If I had that kind of money, I would have put it in India and doubled if not more my money.

Regards

Roshan

iced · #9 08-08-2008, 04:50 PM

Quote:

Originally Posted by New_Investor

I was at the launch event and it was pure and simple ridicules event - prices going mad, 5200 AED for residential, 6600 AED offices and 8800 retail, discounts offered are classical DAMAC SCAM of 15% full floor, 10% Half floor and 7.5% individual units, i recall that when they were announcing the prices all the audience were smiling and whispering in sarcasm

heh - I've bought in maritime city 40 days ago in IDubai and the price was 3150 only !

any way it's again classical DAMAC strategy of ridicules mega expensive prices covered by illusive advertisements and PR, most of the investor left right after dinner ( heh), i actually overheard Damac sales people saying to each other that now that every one had their dinner they will just leave !!

one of the sales approached me and out of curiosity i got some info - they are only releasing 2 podium floors and floors 12 & 14 (which they couldn't sell at the prelaunch i guess)

any way it was total waste of time !
after all i doubt that they sold even 5% of what they have.

DAMAC is just showing signs of a market top. Using discounts for individual units. Selling and launching new projects without completing existing projects. This really is a dodgy developer and 4k+ for new projects is way too expensive

junaidrafique · #10 04-09-2008, 09:10 PM

I heard Damac couldn't get past 3 sales with admiral bay.....lol. But I'm sure they'll be buying another plot though. Its only a matter of time with new escrow and land registration laws before Damac fall off the chart....the writing's on the wall

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