Sigma 1 Al Reem

[Miss V]

Does anyone know anything about this building? I can not even find the web site for it. Can buy a 3 bed, but only 4th floor, for 1685 a sq metre. This sounds okay. We prefer Al Raha Beach but all are over 2000 aed sq mtr.

WE want to live in it when finished, but obviously also the security that if we need to flip it we can get out of it. Or keep it to rent ...

What are your thoughts with Al Reem and this building? It is hard to believe that in 2010/2011 the rents will be as strong as they are right now, with the spike in rents in the last year in AD with too many expats and not enough places to live. Can't help but wonder when all these places come on line if rents will go back to being more reasonable.

What sort of figures are you using to work out rental returns when all these apartments are finally ready for move in?

Any thoughts appreciated ... new to UAE market and worried the time has been and gone. Australia is where most of our money is tied up and that is suffering, and of course we all know about the States ... just wondering when the time for caution up here starts?

Miss V

[MCFC]

Originally Posted by Miss V

Does anyone know anything about this building? I can not even find the web site for it. Can buy a 3 bed, but only 4th floor, for 1685 a sq metre. This sounds okay. We prefer Al Raha Beach but all are over 2000 aed sq mtr.

WE want to live in it when finished, but obviously also the security that if we need to flip it we can get out of it. Or keep it to rent ...

What are your thoughts with Al Reem and this building? It is hard to believe that in 2010/2011 the rents will be as strong as they are right now, with the spike in rents in the last year in AD with too many expats and not enough places to live. Can't help but wonder when all these places come on line if rents will go back to being more reasonable.

What sort of figures are you using to work out rental returns when all these apartments are finally ready for move in?

Any thoughts appreciated ... new to UAE market and worried the time has been and gone. Australia is where most of our money is tied up and that is suffering, and of course we all know about the States ... just wondering when the time for caution up here starts?

Miss V

The developer for Sigma 1 is FGB (First Gulf Bank) with the original price sq ft being around 1500 AED so am suprised you're being offered 1685.

[Miss V]

Thank you for this. By 'surprised' you mean it is a good offer? It sounded good, everything else we are looking at is closer to 2000 sqft

Thanks again!

[sonofthedesert]

Is it 1685 sq ft or meter? If it is 1685/sq ft then it is a very good deal. Most re-sales are selling in the 1800-2000/sq ft range these days. They must be very motivated sellers at this point to be asking 1685.