Kauser

I also would like to know handover date so that I can book my holiday to go over to Dubai. In the meantime I have booked 2 weeks in march just in case!

Hi All
Today I spoke to my Dubai based agent with regards to the service charge and I manged to get an approximate figure out of him. Even though he was extremely reluctant to give me a figure I managed to squeeze an approximate figure of 5412.00 dhms for a studio flat in Spain??? thats approx £760.00. Also if they are renting out theses 6500 properties in I/C themselves then that means we have competition. For any reason if they struggle on leasing there properties and drop the rents then, what chance do we have ?
Any feedback or comments would be most welcome.

sleepy
yes, competition we will definitely have, approx 60K units to be released in 2007 with a further 80K in 2008....competition is fact of life!

Razneer Sorry for not getting back sooner.
My brothers email account is <shakrana@aol.com>, he is renting out International city and buying and selling, plus doing furniture packages.
I my self is still waiting from Zero4 to give me a date, for the handover.
I will email him and get the latest rental for a 1 bed and studios.
Plus i have emailed Zero 4 for an update

Shaks reply has come
studio with no furniture expected 40k

1 bed expected 55k

these are without furniture.....

plus Zero4 have replied to me as well.
Dear Jamil,

It's fine yar I can understand when you invest such a big amount, Definitely anyone will be eager to know what's happening.
Ok the thing is we have still not received the exact date of handover the movement we have that it you will be updated.

Apologizes for that!

Razneer,

I am looking at opening a Dubai based bank account so would appreciate it if you could post the HSBC details on who to contact etc. I bank with Lloyds but they don't seem to make it as easy as you say HSBC do. Does anybody know how we will have to pay electric and water bills? I'm presuming it will be a Direct Debit from the Dubai bank account? I'm rather annoyed that we have to get a passport notarised again for land registry as it cost me £80 last time.

Jwayne

I shall post details asap.

By the way, notarising a document and certifying from what I understand are two different things.

Certifying a copy document of the passport, proves that the original was seen and that an "official" person has confirmed this through certifying the copy i.e signing it and stamping it.

When I opened up my account with HSBC, I asked them to certify the copy of my passport because for obvious reasons I wasnt going to send my original passport to the Dubai Branch.

My solicitor along with a couple of others charge no more than £5.00 per page for certification.

Hope that clarifies.

Electric and water bills would be paid by your tenant.

However, if you are going to be using as a holiday home, if you open the account in Dirhams, you can set up a direct debit and have the money paid through the account.

The whole point of having a dubai account is so that you can easily transfer sterling to Dirhams and have them transferred to your account in Dubai.

I shall also dig out the Govt. Portal link which gives out even more information about living in Dubai.

will not transferring dirham into sterling and vice-versa depend on the exchange rate, i.e. the £ is strong at the moment so converting dir into £ would give you a lesser amount, would it not be better to hold onto the dir until the rate improves??

Laguna

Yes you are correct. Basically you need to keep track of the dirham!

If you are investing in property abroad...you gotta be on the ball.....track the exchange rate when making payments/transfers.

This is why it is easier to have an account in Dubai and pay your bills in dirhams...you can make transfers to your Dubai account when sterling weakens and thereby getting more Dirhams for your £1.

Hope that makes sense.

Raz

Dear fellows,

Want to send my contract back to nakheel for registration. Fedex and DHL are charging approx GBP approx 63.00 (without insurance)
I suppose with GBP1000 insurance, charges would be approx one hundred pounds sterling or may be more. Any suggestion/recomendation regarding inexpensive courier company would be highly appreciated.