Miscellaneous Questions: Post them here

[kaku67]

Originally Posted by david-giorgi

Greetings

Would anybody recommend residential over commercial property eg long term leases more reliable tenants?

right now residential is good , as u can rent it in one day , but u never know maybe 2009 will me more demand for commercail . i think low to mediam end properties are best for investment as they give u around 10 to 12 % return per year ,and there is no new proerty coming into market in this sector , all are high end . if u looking for a galmourios property but not too good in return than u should buy emmar down town . it will give u a return of 4 to 5 % ,

[Nisha303]

Originally Posted by BAkhtar

Are Nakheel also involved in the construction/handovers of the apartment units in the CBD buildings also??

I understand the CBD buildings are being constructed, sold and handed over by private developers. and Service charges for these are also much lower and specified in the sales contracts.

Any comments??

Hi,

The CBD plots were sold by Nakheel to private developers and the developers have sole rights of construction and sales thereof. Most of these properties are larger with more ammenities provided.

[adeeb.shaikh]

I am wondering with current demand in the market, we are having 28 studios and 28 one bed for rent that means a complete building planning to rent it for 4 millions any advice what should be done I think 2 cheque should do the trick.... Should Subleasing be allowed...........

[iahmed]

Originally Posted by adeeb.shaikh

I am wondering with current demand in the market, we are having 28 studios and 28 one bed for rent that means a complete building planning to rent it for 4 millions any advice what should be done I think 2 cheque should do the trick.... Should Subleasing be allowed...........

Adeeb saheb, 4 millions is a bit higher than the market price. However there are companies who want buildings for staff accomodation and they will be willing to pay this. But please keep in mind that they will keep maximum people in each room.

And if you can get me your contact and building details, I think I can get you the cleint. Maybe with one check!

Regards,

Imtiaz Ahmed
050-4526729

[Investor2008]

Originally Posted by wayneis

Guess you can never believe what is written in Dubai however does any one have any up to date Information on when the Forbidden City will be started let alone completed?

A drive to the site will show you that it looks more like the Gobi Desert or Tiananmen Square rather than the hyped up version full of shops and malls that was much hyped by Nahkeel as well as all the Sales Agents.

Nakheel launched Lake Distrcit and Forbidden City this year... personally i bought 2 apartmnets in lake district 1 br and 2 br .... if you are interested or you know someone who is interested call me at 050 8918190

[Investor2008]

Originally Posted by david-giorgi

Greetings

Would anybody recommend residential over commercial property eg long term leases more reliable tenants?

Hi David,
I would recommend residentail , as there is a huge demand on residentail apartments in dubai... international city has very good location and accessable to all over dubai and other emirates... i bought 2 apartments in lake distrcit , which is part of international city back in May 08 .... it will be completed by 2010 and it have very nice view over the natural lake and expanded freenery area check their website

if you are inteterested in investing in dubai , this is really good opportunity ... call me at 0097150 8918190 if you are interested in my 2 apartments ( 1 bedroom and 2 bedroom) ...Regards,

[Howsbuya]

Originally Posted by Investor2008

Nakheel launched Lake Distrcit and Forbidden City this year... personally i bought 2 apartmnets in lake district 1 br and 2 br .... if you are interested or you know someone who is interested call me at 050 8918190

Nakheel are predicting that Forbidden City will complete in 2011. They have already started the project and the contractors are Gamon and Bileray (they built Greece).
I think it will be good for IL.
HB

[Howsbuya]

Nakheel are now building a wall around the lake!
Has anyone got any idea why?
HB

[Howsbuya]

Originally Posted by Howsbuya

Nakheel are now building a wall around the lake!
Has anyone got any idea why?
HB

And have you seen the latest from Nakheel?
If there is no central body to maintain this City if will just deteriorate.
Nakheel cannot simply walk away!
What do you think?
HB
Published: November 14, 2008


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Owners to pay maintenance: Flat fees
By Derek Baldwin, Senior Reporter

Xpress: News | Owners to pay maintenance: Flat fees

International City residents are worried property standards will fall and costs will rise as Nakheel hands over maintenance to flat owners.

The chief concern is that Nakheel’s exit will leave a lot of independent owner committees to oversee an uncertain future for the residential development located in the Al Warsan area along the Dubai-Hatta Road.

A Nakheel spokesperson confirmed with XPRESS that it "is only responsible for maintenance for the first 14 months after properties are transferred to owners".

The spokesman said: "There are 413 buildings in International City and 387 have already been completed and handed over since the handover began in 2006."

What law says

With the last 26 buildings going up on the 800-hectare development, Nakheel said it will "take responsibility for the roads between the clusters in International City".

Under the proposed Strata Title Law that was to be introduced in October, the clusters, common areas and 413 buildings will become the responsibility of individual owners who will, in the long term, continue to pay for services such as maintenance of roads, security and landscaping. It’s still unclear how each building committee will tap into a general master community reserve fund. Sanjay Rajl, 39, who owns a one-bedroom flat in the England cluster, is pensive.

Takeover fears

"Yes, we are worried about the maintenance when Nakheel is gone. We have everything now, but what will happen when building owners take over? There will be a lot of owner committees doing different things and the place could change very quickly," said Rajl.

He pointed out that five years after construction began, landscapers are only now planting grass, palm trees and bushes throughout the development. Greenery costs are expected to climb in future.

"This will cost more later on for labour and irrigation," he said. Residents pay about Dh12 per square foot per year for maintenance service charges, which in his case amounts to about Dh8,600 per annum.

Money trail

Service fees charged by Nakheel cover the following at International City:

Waste management
Road and car park sweeping
Pest control in common areas
Landscape and irrigation
Security patrol services
Janitorial services in common areas
Maintenance of streets, pavements, playgrounds
Streetlights, storm-water drains
Sewerage system
Building maintenance for mechanical and electrical works
Source: Nakheel

[Anwar]

Rebecca,

If you wish to rent it out long-term, ie. for a year or more I would suggest, like the others that you do not furnish the apartment. I have a couple of apartments and I furnished one of them but then realised that it was not acceptable in the rental market.

I can give you the names of some reputable rental agencies but I am not sure if this forum will allow my naming them.