Stadium Point, Sports city

[pennineranger]

I cannot believe that so many foreign investors are rushing in to this development it is madness. The DSC team are playing a clever marketing game by promoting their chances of hosting the olympics etc. Should Dubai capture the olympics in 2016 etc then there is no way this site would be used - clearly it is too small, the developments are not expansive enough and by 2016 it will be landlocked.

To me the prices are massively inflated and with the credit crunch heading east then there are a few people in for a shock.

I do not mean to be negative but please please do your research before deciding to buy from these clever salesman.

[pennineranger]

A mall being squeezed in and a stadium being withdrawn shows to me a huge degree of uncertainty in the product on offer. If already a stadium is being pulled then it says the managing body is not confident it will attract the promised level and quantity of competition. Putting a mall in so close will never increase the value, but instead light pollution, noise and traffic.

And yes there is already a mall in this development. It is looking like a white elephant as promised at prelaunch.

[Sixgun]

pennineranger,
There's a lot of sense in what you wrote, but I dont think the majority of people investing in DSC actually do so expecting a true "Sports City'.
I take it for what it is, another theme of Dubailand, with the sports mix being a pleasant theme thrown in for novelty value.
(Although I do think The I.C.C are serious about making it a serious cricket venue)
However, it doesn't detract from the fact that it will be a decent place to live, with golf course , canals etc, and in the future, it will be classed as quite central as opposed to out in the desert.
If the population expands as expected, people have to live somewhere.
What are you comparing with to say it's vastly overpriced??
The prices are still cheaper than neighbourng IMPZ zone, and unless your in the media industry, I imagine that place would be a bit mundane and boring, whereas Sports City seems it will have plenty going on,
... even if it's not Sports .

[mpat]

Mr Pennineranger
I think that you have not studied the whole sports city thoroughly, It does not only contain only mall, but everything that is required to have in a small city or a town , like primary school , nursery , inermediate school , private clinic, police station , mosques , fire station , municipality office, parks, and MALLS also ,
I am sure that they can do so many sporting activities in here at international level.Did you see the tennis court in which here every year dubai duty free tennis interenational event being held ? Its a small corner in the middle of the city,hardly many people notice.
To be honest , I did not buy there because there will be sporting events there, But because there is already a free zone industrial area functioning well and employing almost 50 000 people ( Jebel ali ) , there is an international airport coming up and there are lots many things that will give job oppertunities to people to whom I can rent out my unit , If I myself dont stay there ( which is not impossible though ). and prices were very cheap as compared with other areas like IMPZ , JVS etc , atlesat 6 months ago.
Bye

[mpat]

Originally Posted by Sixgun

Good advice, thanks.

On another note: profile have just sent me a DSC update, and the model has been revised and totally different !!!

i.e, Where there were 4 stadia, there are now only 3, with a huge shopping mall squeezed in between them instead.
I'm not saying this is a bad thing, but a bit of a suprise to invest in an area, which suddenly changes appearence suddenly.

Any info, ideas or comments on these changes anybody???

Hi Sixgun

I sent u blue print map in your e mail, Can you pls send me the updated DSC model sent to u by profile.

Thanks

[Sixgun]

Hi mpat.
Sent you e-mail. Quite a bit of info, including recent DSC updates, which you probably already have.

[Roshan]

Originally Posted by pennineranger

I cannot believe that so many foreign investors are rushing in to this development it is madness. The DSC team are playing a clever marketing game by promoting their chances of hosting the olympics etc. Should Dubai capture the olympics in 2016 etc then there is no way this site would be used - clearly it is too small, the developments are not expansive enough and by 2016 it will be landlocked.

To me the prices are massively inflated and with the credit crunch heading east then there are a few people in for a shock.

I do not mean to be negative but please please do your research before deciding to buy from these clever salesman.

What you are saying is absolutely right. A herd mentality exists with investors and when they see everyone investing, they also jump on the band wagon.

Just imagine if someone buys at a higher price and the inevitable correction takes place. The purpose is lost and distress sets in making life miserable and leading to a case where the investor becomes a motivated seller ( meaning the seller will go to any extent to make a sale )

Buying now and renting it out, the rent vs EMI will not match. Instead one should keep their money ready in case of a distress sale. Come next year, you will see distress sales coming into the market.

It is UAE and not sports city that will host the Olympics. It will be spread all over the UAE ( mainly in Abudhabi & Dubai ) and definitely not fully in Sports city.

Watch before you leap.

Regards

Roshan

[Sixgun]

Roshan said:
"Just imagine if someone buys at a higher price and the inevitable correction takes place. The purpose is lost and distress sets in making life miserable and leading to a case where the investor becomes a motivated seller ( meaning the seller will go to any extent to make a sale )"

Are we talking about the specific area of sports City here, or Dubai in general?
Obviously I accept that I have got in late in the Dubai process, but looking at capital cities in general, I'm thinking I could not possibley buy at this rate per sqft in London, Singapore, (Moscow where I currently am) and if I leave it longer it will just get worse.
I assume most posters on this forum are owners in Dubai, or wish to be, are you saying that in general it's all over? too late? or that supply will outsrip demand as many predict.
Surley just over 1,000,000dhms for 90sqm would be a good buy in any Major capital city, which is what this is purporting to be in a few years

[Roshan]

Originally Posted by Sixgun

Roshan said:
"Just imagine if someone buys at a higher price and the inevitable correction takes place. The purpose is lost and distress sets in making life miserable and leading to a case where the investor becomes a motivated seller ( meaning the seller will go to any extent to make a sale )"

Are we talking about the specific area of sports City here, or Dubai in general?
Obviously I accept that I have got in late in the Dubai process, but looking at capital cities in general, I'm thinking I could not possibley buy at this rate per sqft in London, Singapore, (Moscow where I currently am) and if I leave it longer it will just get worse.
I assume most posters on this forum are owners in Dubai, or wish to be, are you saying that in general it's all over? too late? or that supply will outsrip demand as many predict.
Surley just over 1,000,000dhms for 90sqm would be a good buy in any Major capital city, which is what this is purporting to be in a few years

Hey, I am sorry if I frightened you or put you off. Real estate works well in the long term. What I am saying is buying and flipping, one must be careful

How much ever one wants, we cannot compare Dubai to Singapore, London, Moscow. Singapore, London, Moscow are matured markets, have gone through numerous real estate cycles and are what they are today. Dubai is at the start of the first cycle.

Buying at a higher price and the inevitable correction takes place could happen in any market not only in Dubai. Could happen all over the world.

The things in favor of Dubai is they have never gone wrong so far. Take the eg of Emirates ( while airlines all over the world are going through the red, Emirates group posted a 3 billion dirham profit ), J.Ali free zone ( when it was built, the world laughed. Today they are adapting the same principles. )

I am not saying it's too late to buy in Dubai. Buying with the view of long term is what one should be looking at.

Regards

Roshan

[Sixgun]

yeah, I agree,

Everyone has different agendas, and I did not reveal mine.

For me, to try and buy this now, and flip it before contruction, well I couldn't be bothered with the paperwork.
I think it probably can still be done, as a business, but I'm buying with the attitude of,
" If this place really does kick-off, my daughter has the best 21st present ever coming to her way, if it bombs, she gets a nice cake"

I'm not trying to be smartarse here, just showing my risk aversion, but if it was my last dough , I think I would still put it here instead of , say, Brazil/.