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When will construction start? When will construction start?
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When will construction start?

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Old 02-08-2006, 06:25 PM
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Join Date: Aug 2006
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Default When will construction start?
Anyway, a few months ago IFA sent Golden Mile owners notice that the second (20%) payment would be delayed to September 1st, 2005. With that date now fast looming I have no knowledge of IFA having appointed Main Contractors let alone breaking ground.

In what other real estate market would you be expected to be paid up to 50% and still be over two years away from completion? They get away with a lot in Dubai.

However, a lot of speculators are being flushed out and I have seen GM apartments being offered at 0% premiums. Great value at around 900AED/sqft given that even apartments in ordinary towers in Dubai Marina apartments cost around 1000 AED/sqft. And in the Golden Mile, IFA will offer a 5 star managed service, not to mention the bling and glamour of having a Palm apartment.

Whilst I love Dubai Marina, I believe apartments on the Palm will demonstrate better capital growth after completion and also have far better letting potential.

Anybody else hold any views on this?
thanks
carlos
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