AED 1 Mil Cash Invest in Dubai

[benho]

I currently work and living in Dubai. My view is to invest in Dubai properties and hold it for the next five years.

With the completion of major Infastructure works in 2009 - 2011, e.g. Merto, Road system etc., RERA policy, oil prices, increasing overseas investors... I can boldly say the bubble wouldn't burst for next next 6 - 8 years, or even longer. IMHO, market correction will happen, but don't think it will burst.

Therefore... the Duabi property will likely to continue to riase for next five years, and for medium term investment will be quite safe.

I sold the UK property, and got approx. AED 1mil cash. I am thinking to use it to get 4 properties, and put AED 250k each for down payment. 3 properties in Dubai and 1 in Abu Dhabi.

The 3 properties in Dubai will consist of 2 is completed, 1 off plan deveopment. I am still considering the option of buying in Abu Dhabi, probably off plan. I will be living in one of them and rent out the other one.

I am thinking JLT in particular, as it is approx 1.5mil each 1B appartment, and the 250k can be funded easily as downpayment, and mortgage the rest.

Guys, what's your view to the above? Is it too risky? Furthermore, will i have any problem of getting Mortgage and to buy 3 or 4 properties from bank?

Please advise...

[Zippygav]

Hi. I too am working and living in Dubai within the property market, we have a project with a 30/70 payment plan with full bank financing on it, and low premiums. The build quality will be high and it's currently selling at under 1100 dhs sq ft. This development is near Dubailand with excellent travel links and access to the main road arterys.

Only just joined this forum so not too sure of the rules yet, I will be up grading to Premier Membership so that I can supply more info. I am working within one of the best companies in Dubai and we have access to most developments including Reem Island Adu Dhabi.

Please respond if you wish to discuss further.

Zippygav

[Zippygav]

Hi I Have uprated my membership to Premium. My e-mail is gavinp@dubailuxuryhomes.com I am confident we can assist in obtaining the best investments for you. We have been trading for 6 years, to see our profile, all awards won and all our affiliations please visit Dubai Property Investment | Dubai Property Sales | Dubai Property Agent
Regards

Gavin

[iimz]

Originally Posted by benho

I currently work and living in Dubai. My view is to invest in Dubai properties and hold it for the next five years.

With the completion of major Infastructure works in 2009 - 2011, e.g. Merto, Road system etc., RERA policy, oil prices, increasing overseas investors... I can boldly say the bubble wouldn't burst for next next 6 - 8 years, or even longer. IMHO, market correction will happen, but don't think it will burst.

Therefore... the Duabi property will likely to continue to riase for next five years, and for medium term investment will be quite safe.

I sold the UK property, and got approx. AED 1mil cash. I am thinking to use it to get 4 properties, and put AED 250k each for down payment. 3 properties in Dubai and 1 in Abu Dhabi.

The 3 properties in Dubai will consist of 2 is completed, 1 off plan deveopment. I am still considering the option of buying in Abu Dhabi, probably off plan. I will be living in one of them and rent out the other one.

I am thinking JLT in particular, as it is approx 1.5mil each 1B appartment, and the 250k can be funded easily as downpayment, and mortgage the rest.

Guys, what's your view to the above? Is it too risky? Furthermore, will i have any problem of getting Mortgage and to buy 3 or 4 properties from bank?

Please advise...

Let me know if you are interested in Badrah (Its a Nakheel Development) or Warsan Estate by Emaar which will be launched tommorrow.

Contact me on iimz at hotmail dot com