Damac Launch at Maritime City

[Rammah]

Originally Posted by Roshan

Too high...and yes, you will still have people buying because they can try and flip.

A simple analysis.....for a 1000 sq ft apartment ( usually the size of a 1 Bedroom ), does 4.8 million make sense If I had that kind of money, I would have put it in India and doubled if not more my money.

Regards

Roshan

Roshan,

under this logic, even if the price was 1M for a 1 bed, you can say: " I can spend 1M in India and "doubled if not more" my money"!

Rammah

[Rammah]

Admiral Bay is extremely well priced in my opinion!

Check how many residential towers will be available in that entire master development, and compare it to the number of industrial units. [dubaimaritimecity.ae]

Only people who will be operating there and prefer to live there will understand the true value! Once again, DAMAC is a luxury premium developer and all 18000 of our investors have made tons of money in capital appreciation and rental yields.
On top of it, our investors have a been privileged by a priceless Brand value as well as an apartment, and that's what most non-DAMAC investors won't be able to grasp!

Note: Is a Rolls Royce or Rolex or Mont Blanc price only for the car, watch and pen? Or does it cover the "Brand name"?

Rammah

[Roshan]

Originally Posted by Rammah

Roshan,

under this logic, even if the price was 1M for a 1 bed, you can say: " I can spend 1M in India and "doubled if not more" my money"!

Rammah

Simple answer to your question. 1 million is the going rate for almost any investment in Dubai while 4.8 million is not.

Hence I would take that 4.8 million and distribute it over many properties and lessen the risk factor, instead of putting it on one Damac property which I don't know when it will get completed, what will be the end product, whether the markets will correct, what would happen to my 4.8 million if there is a down turn.

Regards

Roshan

[docc]

Whenever i talk to anyone about investing in Dubai, i always ask them to consider the 10% rule. An excellent investment is one in which you get an annual 10% rental yield. A normal investment is one in which you get about 6-7% rental yield.

Lets take the case in point. If you are going to invest AED 4.8M for a 1 bedroom apartment, you will get a maximum rental yield of about 150-200k (200k is just unrealistic!). This translates to just about 3-4% of your invested capital, meaning it would take roughly 25-30 years for your apartment to become free for you. Terrible investment....!

If you intend on living in the apartment, then you're probably a high flying tycoon who doesn't care much about money. That said, it will be an excellent play to stay since the views will be simply phenomenal.

Always remember the 10% rule....i didn't even factor the maintenance cost for the tower as that itself would shave off around 20% of the rental income....! So Rammah, i was being more than generous in making these calculations for Maritime city prices

[Rammah]

Originally Posted by docc

Whenever i talk to anyone about investing in Dubai, i always ask them to consider the 10% rule. An excellent investment is one in which you get an annual 10% rental yield. A normal investment is one in which you get about 6-7% rental yield.

Lets take the case in point. If you are going to invest AED 4.8M for a 1 bedroom apartment, you will get a maximum rental yield of about 150-200k (200k is just unrealistic!). This translates to just about 3-4% of your invested capital, meaning it would take roughly 25-30 years for your apartment to become free for you. Terrible investment....!

If you intend on living in the apartment, then you're probably a high flying tycoon who doesn't care much about money. That said, it will be an excellent play to stay since the views will be simply phenomenal.

Always remember the 10% rule....i didn't even factor the maintenance cost for the tower as that itself would shave off around 20% of the rental income....! So Rammah, i was being more than generous in making these calculations for Maritime city prices

Hi Docc,

We're offering 24% rental GUARANTEE on all of our Dubai projects. This includes Admiral Bay in Dubai Maritime City!
Also, I personally don't believe that there is anything unrealistic about rental income! Who decides what's realistic and what's not?
4 years ago, who would've said that the rental rates would reach the level they are at now in the Marina for example? [answer = not many.]
Note: Check the rental rates of a DAMAC building against any other building in the Marina, and you'll see that our investor's premium is covered!

Rammah

[KFC]

I heard from a local emirate friend of mine that Damac is on a verge of a merger with Emaar and that 90% of their buildings, which are built till now, are having a lot of problems like the walls cracking and also have done crappy finishing jobs. He told me that I should only invest in Azizi Properties (mostly the ones in Dubai World Central, as they have a very good background) and some building called Swiftships Tower which is suppose to be released soon.
The thing is this guy is a very close friend of mine and always gives me good info, because of him i bought a signature villa on palm jumeirah on frond K for less than what the launch price was...

[Rammah]

Originally Posted by KFC

I heard from a local emirate friend of mine that Damac is on a verge of a merger with Emaar and that 90% of their buildings, which are built till now, are having a lot of problems like the walls cracking and also have done crappy finishing jobs. He told me that I should only invest in Azizi Properties (mostly the ones in Dubai World Central, as they have a very good background) and some building called Swiftships Tower which is suppose to be released soon.
The thing is this guy is a very close friend of mine and always gives me good info, because of him i bought a signature villa on palm jumeirah on frond K for less than what the launch price was...

I work for DAMAC, and what your friend is telling you is 100% wrong. I don't know his intentions, but anyway, it's very easy to visit DAMAC buildings and find out about our walls.

Anyway, I heard many people saying that palm's will be sinking. For me, this is total rubbish, but my point is, if you want to be influenced by what people "say", then you may be wondering why you have bought in frond K of the Palm. However, the reality is that you made a very wise move.

Rammah