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Originally Posted by buddy
Many thanks Ali for this insightful post. At least this reeassures some of us. It looks like at this stage the sensible thing to do is to hang on to the investment as selling off or demanding a refund will be an anticlimax in the face of the current state of the £/$ exchange rate.
Well done and how was Dubai? Did you visit the phase 3 site at all? Did you have any hint about the future metroline passing through this development? Please do you have any idea of the current cost of a 2 bed in Vancouver Tower?
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Hi Buddy!
Not sure if I can answer all your questions to your satisfaction. But will try: Dubai is growing. No matter what people say about it. The work on the Metro is well in progress, expected to start runing in under a year time in the view of most optimistic residents of Dubai. It goes through the IC which will be a good addition to the value of propeties there. I did not visit the IC during my this visit as I had done so in April. I was told that no new activity was there as far as the construction work is concern. There was some activity in April for testing the soil and leveling the ground in the P3 area. I have no idea about the current price of any aprtment in Vancouver Tower. But as I mentioned before, it is likely that work on the VT is very likely to start soon (i.e. 2-3 months, I was told). Once the construction work starts and people come to the believe that building is going to built soon, I am sure the price of any unsold apartment will spike higher. This is aparently why the Al Attar group don't mind to refund any client who wants to give up on his purchase at this stage.
Regards.
Ali