Quote:
Originally Posted by kk1974
It has got good location in Marina, right next to Emaar Mall, and it's half way up. It would be natural to expect that the prices will go up as the completion nears in 1.5yrs.
However, there is a site in the front of it, that Emaar just gave to someone for development. I was in Emaar few weeks ago and the guy responsible for that site told me that they just sold it to someone and that it will be a high rise building. That will block unobstructed views from the Torch, which will surely somewhat affect the appreciation of the units in the building. After all, lots of units were sold as sea views, which they are not any more. I can imagine that there will be few upset owners when the news break.
I would have more confidence if I have seen some of Select Group's finished properties. Like this, you really dont know what you are getting.
How much you think that sqft if worth there at the moment?
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Yes that's right. The proposed development in front is massive in every sense of the word, however there's still a huge amound of mystery surrounding that plot. The rumours go from three 100 storey towers on top of a 15-storey podium to a park. I would not pay the premium for marina view. In fact I have to say that whole area will get way too dense with towers up to 500m in height crammed together in a tiny area.
Silverene sounds like a much better location.