Property, Downtown Jebel Ali - The Signet

[TommyC]

Looking to sell two offplan apartments in Downtown Jebel Ali for a very good price. What is the best marketing strategy? Have sent loads of e-mails to different agents, and also have it listed already with a few of them.

Is Dubizzle a good place to use?

[shahid]

hi,
to sell the property of downtown jebel ali will take time, the reason is the master developer Limitless has not delivered the plots to the developers, but dont misunderstand me, investment in downtown jebel ali not bad at all, its only development which needs to be started, and is been delayed by 6 months and will take atleast 4 to 6 months more, thats what my observation is as a real estate broker. good luck . shahid.

[TommyC]

Thanks Shahid. I guess I just have to keep my eyes open for possible buyers, at least the word is out in the public (Dubizzle). As another friend, who is a real estate agent, said: "You shouldn't sell now, you should buy!" (Of course not all the inflated prices, but rather the bargains going on sale...)

[investor_from_uk]

Originally Posted by shahid

hi,
to sell the property of downtown jebel ali will take time, the reason is the master developer Limitless has not delivered the plots to the developers, but dont misunderstand me, investment in downtown jebel ali not bad at all, its only development which needs to be started, and is been delayed by 6 months and will take atleast 4 to 6 months more, thats what my observation is as a real estate broker. good luck . shahid.

Shahid, I wanted to ask you about off-plan property in general. I have a couple of off-plan flats in JVS, which are due for completion by the end of 2010. I have already given them to a few agents in UK, as I am from UK. However, I have been told that Dubai off-plan market has really gone dead. Is that true? I have also been told that there are no transactions occuring at all, as there are no buyers.

Can I please have your view as that would be extremely useful.

[PropGuy]

Originally Posted by investor_from_uk

I have also been told that there are no transactions occuring at all, as there are no buyers.

Can I please have your view as that would be extremely useful.

That is not true, you can see the transactions everyday on dubai land department site. For off-plan they are not registered with land department so we don't know. But if transactions occuring for local only property than there should be for freehold too. Freehold is a bigger market.

[TommyC]

Alright, the excitement that is at the moment is enough for me. I'm going for the 0% premium + 0,5% transfer to offload my apartments. That makes them available for the 7% summer offer discount which I managed to get hold of (lucky me). Anyone know any serious/mediumterm/longterm investors looking to get a bargain....here's one. Don't have much of a choice, the excitement to see what's happening is enough to make my regular day to day life tense enough to just want to get rid of them. Will lose a little money, but it's worth it for some good nights sleep, rather spend my time swearing next years that I missed out on a good deal than being miserable until then...

So I can hereby, in first person, confirm that the current situation has made short-term investor drop their premiums to 0% to get rid of their property. What an, first-time-ever, entrance on the property market, lesson learned

[investor_from_uk]

Originally Posted by TommyC

Alright, the excitement that is at the moment is enough for me. I'm going for the 0% premium + 0,5% transfer to offload my apartments. That makes them available for the 7% summer offer discount which I managed to get hold of (lucky me). Anyone know any serious/mediumterm/longterm investors looking to get a bargain....here's one. Don't have much of a choice, the excitement to see what's happening is enough to make my regular day to day life tense enough to just want to get rid of them. Will lose a little money, but it's worth it for some good nights sleep, rather spend my time swearing next years that I missed out on a good deal than being miserable until then...

So I can hereby, in first person, confirm that the current situation has made short-term investor drop their premiums to 0% to get rid of their property. What an, first-time-ever, entrance on the property market, lesson learned

Just out of interest, how much is each of your apartments and when is the completion date? what development/building etc?

[TommyC]

It's 2 1BR apartments in The Signet by Schön Properties in Downtown Jebel Ali, finished 2010. It has the full escrow account, law 13 etc. etc. coverage so in a worst case scenario I'm looking at a 30% loss of the invested money, but that's it.

Put up an ad on Dubizzle: Dubizzle.com - Dubai Property for Sale - Apartment - INVESTMENT OPPORTUNITY! The Signet, 2 units, 1BR, pre-launch price, 0% premium (7% discount!!)

[investor_from_uk]

Originally Posted by TommyC

It's 2 1BR apartments in The Signet by Schön Properties in Downtown Jebel Ali, finished 2010. It has the full escrow account, law 13 etc. etc. coverage so in a worst case scenario I'm looking at a 30% loss of the invested money, but that's it.

Put up an ad on Dubizzle: Dubizzle.com - Dubai Property for Sale - Apartment - INVESTMENT OPPORTUNITY! The Signet, 2 units, 1BR, pre-launch price, 0% premium (7% discount!!)

Hey, thanks a lot for forwarding the details. To be honest, I would probably be interested but firstly, it's way above my league (and budget) and secondly, I still haven't managed to get rid of my own property.

[TommyC]

Yeah, know what you mean, kinda cautios at the moment awaiting everything that happens. Good news that Obama got elected though, seems to create some worldwide confidence about things to come, and on top of that; I'm looking forward to see what the States will be like now