Latest from gulfnews about Int'l city

[Kind]

Today's news :

The price of a studio flat in Forbidden city is about Dh730,000, while one-bedroom apartments start at Dh950,000 and a two-bedroom apartment starts at Dh1.4 million.

"This is about 20 per cent higher than the prices at International City," Rashid Obaid Al Helli, general manager of Nakheel's International City, told Gulf News.

"The contractor has already carried out 10 per cent of the works. They are about to start working on the superstructure. The overall project will be completed in four phases."

Despite Int'l credit crunch our Int'l city will still do good.

[georgihh]

Originally Posted by Kind

Today's news :

The price of a studio flat in Forbidden city is about Dh730,000, while one-bedroom apartments start at Dh950,000 and a two-bedroom apartment starts at Dh1.4 million.

"This is about 20 per cent higher than the prices at International City," Rashid Obaid Al Helli, general manager of Nakheel's International City, told Gulf News.

"The contractor has already carried out 10 per cent of the works. They are about to start working on the superstructure. The overall project will be completed in four phases."

Despite Int'l credit crunch our Int'l city will still do good.

Nobody will buy at such ridicules prices but at least is good for the other buildings – like protection.
40 % or 1000 units have been sold – doubted

[Kind]

I have just seen some ad. offering price below AED500,000/= for studio apartment
in Int'l city. I guess sales price may go down but rent will not ? because of the demand and supply situation. Obtaining mortgage has been difficult for speculators and it will slow down construction activities in future thus creating demand and supply issue.

[georgihh]

Originally Posted by Kind

I have just seen some ad. offering price below AED500,000/= for studio apartment
in Int'l city. I guess sales price may go down but rent will not ? because of the demand and supply situation. Obtaining mortgage has been difficult for speculators and it will slow down construction activities in future thus creating demand and supply issue.

Unfortunately the price for studio is around 450k and one bedroom 650k
Rent will go down as the people have no money and might go home.
The average price is 900 DHS per sqft at the moment.
I don’t understand how Nakheel are trying to sell something off plan for 1350 per sqft.
At least they don’t ruin the market