Park Lane ic3

[ash42]

Has Any Body Bought A Unit In This Development, Or Does Any Body Have Any Updates.

[Roshan]

Originally Posted by ash42

Has Any Body Bought A Unit In This Development, Or Does Any Body Have Any Updates.

If I were you and had a choice, I would invest in Dubai sports city instead of International city.

Unfortunately the good developers have not got into this place. Do proper research before buying.

Roshan

[ash42]

hi Roshan i have other investments in sports city as well .but the investment in park lane was done at a very early stages + they are with rental guarantee for 3 years , although they are taking long time to build .

[Roshan]

Originally Posted by ash42

hi Roshan i have other investments in sports city as well .but the investment in park lane was done at a very early stages + they are with rental guarantee for 3 years , although they are taking long time to build .

Hi Ash 42, Is the developer for Park Lane Fakhruddin properties ??. Please advise.

[ash42]

Roshan No The Developer For Park Lane Is GPD Investments LLC , But Have You Bought In This Development , As i Know A Lot Of People Have Bought In Ic Phase 1 But Not Many In ic Phase 3.

[Roshan]

Originally Posted by ash42

Roshan No The Developer For Park Lane Is GPD Investments LLC , But Have You Bought In This Development , As i Know A Lot Of People Have Bought In Ic Phase 1 But Not Many In ic Phase 3.

No Ash, I haven't.

Rgds

Roshan

[g4set]

Hi Ash,
I've bought into this development and sent an e mail to GDP yesterday requesting an update. I deal with Ian Liborwich the sales director his e mail as follows:-

Gary, we are a using one of the biggest chinese construction companies and everything has been agreed with them to start construction on the first 2 buildings shortly and just to put your mind at rest ours is not suspended and i don't know where these articles are coming from because they don't tell you all the story which is you now have to be a registered government developer with a licence from them and we are one of those companies and many are not and they are the ones who are having to stop until they get a licence or maybe some of them never will .Prices are still going up across the board as you will see if you look on the internet there are very few properties for sale under £100,000.



Regards IAN.



Ian Liborwich

Sales Director

Global Property London

Main +44[0]1279 874347

Mobile +44[0]7973 758828



I paid 65K for 1 bed with parking and 3 year rental - I guess we will be lucky to see this development finished before mid 2009
What are the chances of selling now and recovering our 30% deposit if they have gone up to 100k that would be a nice 10K profit.

[ash42]

hi g4set,i have bought from the same co, and deal with ian liborwich as well , and i am told the same thing ,the site is cleared and we should be starting soon ( that was oct 07 )my son has just been to dubai (jan 08) to see the site ,and the site is not even cleared and is told the development will take another 2 years(2010 )to complete,as the ground work has not even started the prices have gone up because of raw materials and labor costs ,roughly 35%, there are re sale in ic1 england, morroco ,for under £ 80.000 and are not over £100.000,as more properties will be built i dont see them going up too much . but we can only speculate ,but i am going to hold on to my purchase
as it is for investment purpose .+ when you get the contracts , you know they are going to start the building (three months before start and three months after signing the contracts so we will know 6 months before they start ) but dont be put off as years from now the investment will be worth it .( my thought )

[LaCasta]

How do these rental guarantess work? Do the developers actually rent it out for you?

[ash42]

hi LaCasta the developer have already signed over the tenancy to workers in dubailand through their agents , and guarantee the rent for 3 years @ 7% nett , they could be getting more rent as we are promised 7% @ the time of buying.