The Palisades in Dubai Investment Park

[Sally1980]

Today, most of Real Estate projects in Dubai are similar...
All the projects are racing high to the sky…
Ignoring the beauty of the landscape…
The freshness of the natural air…
The sound of the natural air…
The unsent playing with our kids running with them…
Reading & Relaxing in the green garden…

Feeling the legacy of the Victorian history…
From 18th century the Golden age for the English culture…

THE PALISADES

See also their websites THE PALISADES and The Palisades property development in Dubai - official website of this unique collection of townhouses, apartments and villas in Dubai .

When I came across this project a few weeks ago I was amazed by its beauty. This green park community has so much green lawns, tree’s, fountains and swimming pools…
It’s located in Dubai Investment Park, just near Jebel Ali International Airport and Jumeirah Golf Estate. Away from the busyness but not far from downtown Jebel Ali, I believe it offers families the opportunity to work in a fast phased economy while enjoying a quite living in their own green park community.
They were selling it around 800 AED/sqft. back then and the price has already risen around 1.100 which is still too cheap if you see what you get, I believe…

I am curious what others think about this project…

[Go West]

Hi
I am too believe in the success of the palisades as it is an amazing natural and beautiful master plan and it is also very close to the new world biggest airport in Jabel Ali.
There is no doubt whoever buy there will do well.
Currently units for sell over there from 1100dhs p/sqf.with an amazing payment plan which makes it really easy to purchase.
Its 10% on booking 10% in 6months 10% in 3months 10% in 3months 10% in 3months and 50% on completion

[memo123]

Originally Posted by Go West

Hi
I am too believe in the success of the palisades as it is an amazing natural and beautiful master plan and it is also very close to the new world biggest airport in Jabel Ali.
There is no doubt whoever buy there will do well.
Currently units for sell over there from 1100dhs p/sqf.with an amazing payment plan which makes it really easy to purchase.
Its 10% on booking 10% in 6months 10% in 3months 10% in 3months 10% in 3months and 50% on completion

I got an email this morning and it is so nice , the only thing missing is london weather it is really nice, but wont it be so noizy being just next to the airport
and you have to pay reservation fees also , but there was only one building on offer , are all the buildings on offer , the villas too
can the price shoot up this much in one day! to be honest i dont understand all the hype about the albadra , I forgot the name , from Nakheel ?

regards
Memo

[Seventomake]

Hey Guys,

I have bought a property in the palisade more than a year ago, and till today they have not begun construction. Every time they are confronted they promise to start construction the month after, but without any result. I still can't get an actual answer on weather the project is canceled or not. They also still do not have an actual contract in place, they initially promised to provide the contract once 20 % is paid, but a friend of mine has already done that, and they were not able to give it to him. So i would think twice about buying in this property.

If anyone know further information about the project, please update.

[anand_s]

Hi

anyone has any more updates on Palisades Project
Pls. share with me

[Dubai0Guy]

I used to work for a real estate developer before they made me redundant. we were selling a whole building of the palisades. I can confirm that the project is not going to follow through to construction. further info was going to be given in 2nd quarter of 2009. and there is a strong likly hood it will be cancelled. If not already.

[Fran]

The project was launched in the second half of 2006. It belongs to one of the members of Abu Dhabi's royal family.
In the beginning of 2008 the developer, Pear Property, had very very limited inventory from the Phase 1. The premium on the hoses was in the range 40% to 60%. The talk was that Phase 2 will be launched in June and planned for completion in 2013.
Buildings were sold at the time for AED 590 per sq.ft, while individual units from AED 740 to AED 950.
Indeed, it's a superb project with spacious floor plans and layouts.
However, in my opinion, the location is not really good.

[yshimy]

Well, What would happen if the project is canceled. I bought my unit from Hi-Mark properties. They bought a full building.
I'm not sure if my reservation form means anything. whether it would stand in the court?

Please anyone with info, update us. I started to get really worried now!!!!!

[PropGuy]

Originally Posted by yshimy

Well, What would happen if the project is canceled. I bought my unit from Hi-Mark properties. They bought a full building.
I'm not sure if my reservation form means anything. whether it would stand in the court?

Please anyone with info, update us. I started to get really worried now!!!!!

If it is escrow account and construction not started then you should get your money back.

[sirrichard]

Originally Posted by PropGuy

If it is escrow account and construction not started then you should get your money back.

The Palisades is a great project, one which was conceved by a very good concept design company Storm Associates of Dubaim who sadly are no longer involved.

The problems with the project started many months ago when the designers of the project were not paid for their work and they subsequently stopped work. The incomplete project was then taken on by another design company who know nothing of the original design principles conceived by the design company's (Storm) Mr. Barry Swayn, the originating architect, Mr. Malcolm Copson, the projects director and Mr. Mufid Abukishek, the company's marketing director. Their contact numbers are all included in the company web site, they may be able to provide you more information.

Together with this, the principle owner of the palisades project company (Pearl Properties which is owned by His Highness Sheikh Issa bin Zayed) has received many bad press reports for the torture of a number of individuals (all reported on CNN and in the british press).

How do I know all of this, I am a resident of Dubai and I know the sad history of this great project well. Please be careful if you are thinking in investing in this project.