Elite 6 - Sports City

[faisalbhatti]

Originally Posted by Stephendxb

All factors need to be considered in any property purchase, but high on my list of priorities is location, orientation and facilities. As for pricing, I am extremely confident that 2008 will see substain capital growth within the development. I know of one project that will launched in the coming days overlooking the Ernie Els driving range, that will being the region of + 1900 per sq ft. Elite 7 in my opinion is not in a prime location so as a long term investment, yes I would consider it, but for flipping I would be very wary.

Stephen, I was looking to invest (long term) in DSC but the prices were way over my head, even for resales, so I have bought a studio in Reliance 12 JVS. It was a resale and I paid 950 psf, please let me know if this was the right decision and if you know anything about the developers of reliance properties and the prospects of selling this studio in 6 months or so........

[Stephendxb]

Dear Faisaldhatti,

It is a difficult question to answer in the sense that I would need to know more details about the studio. However, I believe prices are currently around 1150 per sq ft, ( I would need to check ) but if you follow the market news and have read the articles in todays papers you will know that property prices are forecast to increase during 2009 and into 2010.
So for a long term investment I would say you have done fine. It really depends on you own goals and when you plan to sell. If construction has started then great, if not I would advise you seek the information from the developer...and verify this yourself... the reason I say this, is that I have seen one developer dig the foundations and claim "construction started" Over two years later, nothing else has changed.
The later the stage of construction the better your chances of selling. People are getting impatient with the delays and this means buyers ( especially end users ) are now now seek developments that have a completion date in sight, or rather a building.
I am not familiar with the developer, but out of curiosity I will find out....

Originally Posted by faisalbhatti

Stephen, I was looking to invest (long term) in DSC but the prices were way over my head, even for resales, so I have bought a studio in Reliance 12 JVS. It was a resale and I paid 950 psf, please let me know if this was the right decision and if you know anything about the developers of reliance properties and the prospects of selling this studio in 6 months or so........

[excaliber]

I got email on Elite 7, i am planning to buy and sell after first two installments(15% each) quartley. Any suggestion? Please advice, its 1360 for 500 sq.ft Studio, fully furnished.

[BluePlanet]

Has anyone purchased an Elite Sports apartment? Happy with the developer/agent? What type of sales agreement do they offer? I would like to invest in Elite 6 (and see that several Elites have sold out already) but have no clue where to begin as I don't live in the UAE.
Thx!

[Stephendxb]

The developer for the Elite towers is Triplanet. They have already began work on Elite 1, 2 and 3. The rest to follow very shortly. In deciding in which to buy, think location, location, location. If you want to make a purchase let me know and I will head you in the right direction.

(PS. I have one in Elite 6 )

Originally Posted by BluePlanet

Has anyone purchased an Elite Sports apartment? Happy with the developer/agent? What type of sales agreement do they offer? I would like to invest in Elite 6 (and see that several Elites have sold out already) but have no clue where to begin as I don't live in the UAE.
Thx!

[BluePlanet]

Thank you for the tip, Stephendxb. I plan to be in the UAE in October/November and will get in touch again before then.
Best regards

[vanityfair]

Sarah B
Wow what a great positioned apartment.
I tried to purchase on that side of the building but was too late.
I ending up purchasing on the 18th floor on the golf course side. Not where I wanted to be.
If there was a way to exchange I would.
Im going to the Elite 6 site next week to inspect the works, I will enquire about resales, etc.
Regards,

[Stephendxb]

Originally Posted by Sarah B

Hi all,
We just want some advice really as we have recently decided to sell our 535 sq ft studio apartment in Elite 6 with parking. This is on the 20th floor out of 21 so almost at the top and great views. The only building in front of Elite 6 between the building anf the big round lake is a supermarket / building of about 5 floors, so the views from the 20th floor will be great. On top of this we have purchased studio 16, which is right at the front in the middle so will have fantastic unobscured views of the lake. We were thrilled to get this one (we bought it on day of release) and this is a regretable sale.
Anyway, we are posting this blog to see if anyone out there can recommend an estate agent or knows of people who might sell or be interested in buying? We have paid 40% to date and will pay another 10% in Jan 09, but are not looking for a huge premium. Our purchase price was a total of 746,700 AED (706,700 AED for appt plus 40,000 for parking). The property is due to be completed in 2010. Any advice would be appreciated!
kind regards

Hi Sarah,

If you are selling for financial reasons, i.e the next payment is due then I might be able to help. Please send me a PM for details.
If you really want to sell then one of the best companies is Safa Homes. Speak with Jackie ( the MD )

regards SC

[Stephendxb]

For updates on all the Elite towers, check the new website at
Triplanet Group

[Sportsman]

I would be encouraged that they update their website and show construction progress....better resolve and commitment than many others.