Anybody buy in Metro Tower, City of Arabia?

[fcrs]

the prices didnt went up because they didnt started to build it yet onces they start it will go like 30% max untill completion

[Arfie]

City of Arabia is one of the best projects in Dubai. The location is very good, the developer is good and payment plan also good.

The interior finishing will be good also. This will be a great place to live in once complete.

[DAYFox]

HI Guys,

I bought a unit in WADI TOWER 1Bed 25th floor Mall View. I got a very good price which was 621.000AED... Prices already went up a little bit! Once the project is serious under construction prices will go up.. I am quite sure about that!
But I have a question: I heard that the remaining projects in City of Arabia will only be available via invitation? Is that correct? That would mean that there is an automatic price incerease for the units which have already been bought... And second, there are so many other towers in City of Arabia waiting to be launched and offered in the market (have a closer look at the masterplan!)... When will this be?? They just have sold 4 Towers out of more than 40...

[savais]

those 4 towers are by the master developer (galadari brothers). the remaining towers are private developers.

[lesplaces]

I bought 2 small offices in the Metro Tower. For me it all comes down to delivery dates. If they deliver in 2008 - rental rates will still be at a premium and returns will be great. If they are late it will start to slip and be a modest investment. I was promissed penalty clauses for late delivery in the contract when I bought and these are not inplace (they have a year's grace). I have challenged it and refused to sign the contract until it commits dec 2008 or penalties.

All in all it has great potential but needs to be delivered on time to be a ball breaking investment.

[Henrico]

As far as I know 85% of Metro Tower is sold by now.
Construction for the Metro has not started but this is due to start anytime now and a timeline of 14 months for the Towers. So we are still looking at December 2008 as the Anticipated Completion Date for Metro Tower and Wadi Towers.
Fase 1 total 4 towers to be completed December 2008.
I guess we can expect some 10% increase within the next few month when actual construction start. As far as I know fase 2 towers will be sold starting 2200Euro pr sqm

[dubailover]

Originally Posted by savais

Hi,

I bought a 2bdrm flat in Metro Tower, and am interested to find out if anyone else has bought there or another property within City of Arabia. It would be nice to discuss issues such as payment schdule, contracts, etc.

Thanks

Have you spoken to I&M galadari group to find out more about Metro Tower ?

There is a 12 month delay on the City of Arabia Project, now not expected to complete til late 2009/begining 2010

[lesplaces]

can't get any details - I am still being told 2008 completion which seems nuts. Anyone else got any info ?

[dubailover]

Originally Posted by lesplaces

can't get any details - I am still being told 2008 completion which seems nuts. Anyone else got any info ?

What kind of useless agents did you use to purchase the unit ?

Why are they not keeping you informed.

If you need any inside knowledge, just send me an email and I will find out exactly what you want ?