Miscellaneous Questions: Post them here

[ALIYA]

As far as I was told by Nakheel they are 2 different things. This is the reply I got from Sara Mohammed from Nakheel when I queried this.

Kindly be advised that as for Nakheel, we require the service charge,
the 2% for registration of your unit with Nakheel and title registration
of your unit in Dubai Land Department with a fee of 1.5% if your
contract of Nakheel is before 17/12/2006 or 1% of the unit price if your
contract is on or after 17/12/2006 as per Dubai land law.
(By the way I have copied and paste her reply, these are not my words).


When I raised further queries for clarification she stopped replying.

[colum1975]

they appear to be different charges.

when i asked sara at Nakheel to confirm that the charges my agent sent me were correct, this is the response i got - "Further to your email below and as advised in my previous email, that
the amounts due for the affection plan and Nakheel administration fee is
payable by the building owner as the procedure of title registration of
the units is the responsibility of the building owner"

the way that is phrased makes it sound like i don't have to pay these charges at all, but i don't think that is correct?

[BAkhtar]

It seems all Brokers, Reseellers, Agents, Middlemen, etc are taking all the investors and buyers of property in International City for a ROYAL RIDE!!
And it also seems that NAKHEEL is letting it happen and turning a BLIND EYE!

May be the persons working for NAKHEEL have a vested interest!

Its high time that all the buyers and investors CLARIFY every thing from the AUTHORITIES, if at all there are any.............

Else Dubai gets a bad name and so does the SHEIKH of DUBAI!!

I for one had bought an apartment in Marina Dubai......... and I did not face any such hassles. I must say EMAAR are far better, almost divine.

I got possession of my apartment in the MARINA having paid the CONTRACTUAL amount and the SO CALLED LAND DEPTT. REGISTRATION will take place in DUE couurse!

May ALLAH help the investors in International City from AGENTS, MIDDLEMEN, RESELLERS, etc and NAKHEEL.

NAKHEEL really dont reply to pointed questions! That is my experience. And maybe their employees have a vested interest in keeping things in CONFUSION!

And they say NAKHEEL is GOVT's.

I am shocked!!

[laguna33p]

Nakheel are CRAP then.

[FIRSTOPTION]

Dear All
I Am Verynew To This Forum. I Managew A Real Estate And Can Help You In Take Over And Renting Of Your Property. Please Contact Me If Any One Of You Need Help.
Firstoption

[ravikumarthota]

Hi Guyz...

Can anybody tell me where is the Gym in International city

Thanks,

Regards,
Ravi Kumar thota

[arshia]

kindly write me back at arshi111@eim.ae, and let me know if its available bcoz i want it for my personal use.

[eyeC]

hi
-when i first bought my flat in IC england was the no1 cluster for unknown reasons but maybe becouse they thought alot of british ppl will be renting them.....any thoughts on why feel free to comment

-china was the cheapest and therefore least prefered making it the worst cluster....but how can we say it is the worst cluster when it was handed first sold cheaper and rented almost same if not more than the others being close to the dragon and many chinease workers need a place to rent where better to rent...making the story short for investors it is a better buy china cluster.
and i dont own anything in china

-england cluster higher price will make you wont to rent high too so you can get your 10% earning on what you invested and if you paid an extra 20,000 dhs for higher floors you need to increse your rent by 2000 dhs a year...so how ill they compete with china rents??

-spain looks good from the outisde so you have to pay an extra 50,000 dhs when buying so you need to increase you rent by 5000 dhs a year if you buy it....and i do agree spain looks good from the outisde maybe the best cluster so far

-the lake will be finished in few years time and maybe with the forbiden city next to it .... maybe greece and morocco will be on the top list .


so what im trying to say dont pay extra charges for higher floors or better looks or whatever think of how you will get it rented higher than market price
when so much competation in the market from nakheel on one side advertising units cheaper and new buiding s getting finished all the time everywhere in dubai not just ic

- i see alot of ppl saying rent is 40,000 for studio and 50,000 for 1 br is just rubish talk im here and i tried to rent no one will give you anything above 35,000 for studio and 45,000 for one bedroom.


-i think the fair price for a studio flat is 300,000 dhs and 400,000dhs for 1br
and im the owner of two flats in ic...but i will not sell at this price and will not buy too...just gained an experience from the whole process of buying and renting ....and all i can say about what i learned it is HARD to make money
the above prices are for x10 earnings and you should never pay more for a property

35,000 rent for a studio - charges makes net income 30,000 times 10 gives u 300,000 true price of the property

your comments if any

[SSM]

I didn't really care much about the names when I bought 3/4 years ago. I was simply looking for a good investment and a good return in the long run. The Moroccan sector overlooked the lake and I bought purely for that reason alone. Waking up to a half decent view should go someway to rent the property and it proved a right decision. I haven't seen most of the other clusters in detail but I'm happy with my choice.
I would also like to state that if you want to rent your studio out, then around 35k is a good advertising price. Try avoiding agents as most tenants like dealing with the landlord directly.
Not sure why England were marked higher than others but stick to the basics.....location, location, location.
All investors in Intl City will be rewarded in the long run.

[wayneis]

Eye C I agree

Do not believe all the Hype that Real Estate Agents will tell you. England was all ways marketed to those who "believed they were buying into "England"

When its all said and done and the whole complex is completed most of the apartments will average out to the same except for Spain and Morocco.

If you are familiar with Dubai and the town Karama then International City is the New Karama" I.C will give you good cash flow but forget about making a killing with future short term Capital Gains. This will not happen until the project is completed in full and thats at least 2 years away if not more.

Spain has turned out to be the " Ugly Duckling" and is by far the most out standing aesthetically from the out side.Hold on to Spain it will out sell England easy.

Morocco is practically next door to the Sewage works, if you are able to off load it get rid of it while you can before the word or should I say stink gets out...

International City as an investment provides good cash flow but as a future Capital Gain, its been a dismal fizzer so far if you brought at the concept stage and this will not change until Nakheel finish the project completely. There is no sign at all of the Forbidden City Complex that formed such a large part of the initial Nakheel Sales Pitch 4 years ago.

The "Hidden City" would be a more accurate term. My money is on Nakheel making "Alterations" to the master plan and down sizing or selling off this plot to be another CBD project.

Nakheel as "Master Developer" dropped the ball big time on the International City Project . Lots of Complaints regarding lack of information, Miss Information, outrageous Fees that are being charged, lack of greenery, Product Delivery and Product Quality. ( I have had them come back twice to my apartment to complete a very sloppy paint job and also fix water leakage problems and i was told that my building contractor was one of the better ones!)

Once shops are occupied and buildings have more tenants then parking will become an issue, there is just no parking space at all for those shops in the front of the buildings! And we have to pay huge outrageous service fees for the concrete jungle, there is very little greenery.

Another complaint Nakheel "flooded" the Rental market with low cost apartments, this has changed the Market price however I am still able to generate 13% net return after all bills have been paid.

As a Landlord you are also locked into what ever the Dubai Rental Committee comes up with, this restricts you to raising the rent for a period of 2 years and when that 2 years is up by only 7%. I suspect that that in the future this ruling will change again. From a tenants view point I.C. is the most affordable project in the City.

It is beyond me how Nakheel were ever awarded the huge water front project given they could not deliver on an affordable low cost project such as International City. As an Investor I would never purchase from Nakheel again.

It also depends as an investor what currency you brought your apartment with. You can have differing positions depending if you purchased on a Euro/Sterling or US $ Balance sheet. Given the drop in the US Dollar / UAE Durham against most other currencies then purchasing apartments in the IC District takes on a different view today than when it did 12 to 18 months ago.

I am happy with the cash flow, disappointed with Nakheel but will hold for the moment Given that there has not yet been a project in Dubai that on completion has not increased a substantial amount, there continue to be project Delays Dubai wide and people are still flocking to Dubai, every one needs a place to stay.

The saying "Build it and they will Come" certainly applies to Dubai