Queue Point - Mazaya @ Dubai Land - to invest or not?

[New_Investor]

Very soon all projects in Dubai will be covered by Escrow.

Regards

Roshan

let's hope so, any idea about Ajman projects?

 

[New_Investor]

Q point called me and there's a new launch Phase III price starts at AED 1200 psqf ?!! this is totally ridicules, the original price was 600 psqf and currently on resale you can get a good deal of 750 - 800 psqf?!

this project was supposed to cater for the low and middle income class!! do you see the irony in this.

 

[Hi Tech]

Q point called me and there's a new launch Phase III price starts at AED 1200 psqf ?!! this is totally ridicules, the original price was 600 psqf and currently on resale you can get a good deal of 750 - 800 psqf?!

this project was supposed to cater for the low and middle income class!! do you see the irony in this.

Dear All,

What Al Mazaya and other developers do is that they launch the project with a certain percentage of units up for sale at a low price. Once that is sold-out and interest in the market about the project is growing they would release the second lot at a higer rate to get more money and the last lot would be when construction is complete.

Now to come to Al Mazaya, they are a reputable developer from Kuwait; however they have not yet delivered any projects in Dubai, they have alot of things going and alot of investeors money. To get the real picture from them or any other developer, ask them to see a completed or near completed project to get an idea about the quality.

Regarding Escrow, yes all projects are required to have escrow accounts so money get deposited in them. However, the concept of Escrow relates to releasing money to the particular project as the construction progresses.

The million dollar question is: Who is monitoring the construction progress and approving payments from the Escrow Accounts? Ask RERA and the escrow account managing bank???

Regards,

An insider

 

[rshardha]

Queue Point at Liwan

Hi,

I want to invest in queue point, could you please update me, how is the market going on now a days, what is per sq ft. Any availability at good price.
I will be highly appreciate all the replied.

Ramesh

 

[sameer.dada]

Yeah I wonder how much Quepoint has appreciated since Hesham first posted. Someone please find out.
Btw - it is a safe project if you got in early (around 5% premium). Dynasty Zarooni is selling it. They always have the best payment terms. I think Q-point is not something you can flip fast. But when completed I feel you will get a good premium. Its for mid-income housing. Si its fairly cheap to buy into. But not I think it may be too late, plus there are other better investments in Dubai.

 

[blackberry2k]

I bought a 1BR at 9% premium (740 per sq feet) before dynasty zarauni re-lauched it at 1000. Today the developer price is 1200 per sq feet. But still its a great investment i believe due to its strategic location.

Yeah I wonder how much Quepoint has appreciated since Hesham first posted. Someone please find out.
Btw - it is a safe project if you got in early (around 5% premium). *** is selling it. They always have the best payment terms. I think Q-point is not something you can flip fast. But when completed I feel you will get a good premium. Its for mid-income housing. Si its fairly cheap to buy into. But not I think it may be too late, plus there are other better investments in Dubai.

 

[sameer.dada]

thanks blacberry. when did you buy it? if you wanted to sell it right away could you? hows the demand?

 

[sameer.dada]

The guy above is saying market price is 1200 and Ramesh you are selling for 975? Can you please email details. Thank you.
sameer (dot) dada (at) gmail

 

[blackberry2k]

Queu Point is available at different payment plans. The once on old payment plan are available at around 900 per sq feet in which 70% to be paid during construction and 30% on posession. While the once that are at higher price are at 30/70 payment plan.
10% paid
10% due in Aug 08
10% in Dec 08
70% on posession
I have 2 units on new payment plan. OP is 970 and SP is 10% premium.
Drop me a mail at blackberry2k at gmail dot com

The guy above is saying market price is 1200 and Ramesh you are selling for 975? Can you please email details. Thank you.
sameer (dot) dada (at) gmail

 

[fahdc]

Queu Point is available at different payment plans. The once on old payment plan are available at around 900 per sq feet in which 70% to be paid during construction and 30% on posession. While the once that are at higher price are at 30/70 payment plan.
10% paid
10% due in Aug 08
10% in Dec 08
70% on posession
I have 2 units on new payment plan. OP is 970 and SP is 10% premium.
Drop me a mail at blackberry2k at gmail dot com

Hi i have bought from Mazaya in there 3rd launch at 1130 O.P but my payment plan is like the old one 70 percent during construction and 30% on completion but you have mentioned above that its the other way around can you please clearify this it would be gr8 help

Tks

 

[zouth]

I am buying 1140/sqft with a 7% premium...30% during construction and 70% on completion. Is it a good buy?

 

[nabeelc]

I am buying 1140/sqft with a 7% premium...30% during construction and 70% on completion. Is it a good buy?

someone over here was selling at 925/sq. ft

run a search

 

[zouth]

someone over here was selling at 925/sq. ft

run a search

And who is selling at this price, I can't see it in this thread?
What is the premium and pyt plan, it is 30/70 or the opposite?

Plus i Believe, there is another pyt plan where you pay your 30% either in Dec08 or Feb09, so am having the later plan.

 

[Mendozo]

And who is selling at this price, I can't see it in this thread?
What is the premium and pyt plan, it is 30/70 or the opposite?

Plus i Believe, there is another pyt plan where you pay your 30% either in Dec08 or Feb09, so am having the later plan.

I believe Q-Point has been sold both Dynasti Zarooni and by Mazaya themselves. Initially, it was launched by Mazaya at approx 600-700 psfq and recently re-launched by Dynasti Zarooni at 970-980 psqf in three phases:

OP: 970-980 psqf
Paymnt Plan:
10% on booking
10% august 25th
10% december 2nd
70% completion

OP: approx 1080 psqf
Paymnt Plan:
10% on booking
10% september 25th
10% january 2nd
70% completion

OP: 1100-1150 psqf
Paymnt Plan:
10% on booking
10% october 25th
10% february 2nd
70% completion

The difference in original prices of aed 100psqf is compensated by the payment plan which is shifted for one month in every next phase.

So if you are to take a unit at 980 psqf you would most probably have to pay 20% of OP plus premium, if a unit at 1080 psqf - then 10% of OP and accelerated paymnt this month plus premium. Or if you take slightly higher OP of 1100, then you'll have 1.5 months till next payment on October 25th, which is 2 weeks after Cityscape Dubai, when the prices are expected to shoot up again after summer and Ramadan slow down.

 

[zouth]

Buy from me i have 2 units to sell O.P is 1130 and i am selling at 5% premium (negotiable).... drop me an email at fahdc at yahoo dot com

HI, ur pyt plan is 70/30. Better for me to pay additional aed10/sqft (with premium) and have a much easier pyt plan 30/70.

 

[fahdc]

HI, ur pyt plan is 70/30. Better for me to pay additional aed10/sqft (with premium) and have a much easier pyt plan 30/70.

Well when is ur next payment comming.....as for this you only have to pay5% now and the next payment is well due after 1 month of city scape giving you enough time to sell it before the next payment is due and make a decent profit.

 

[zouth]

Well when is ur next payment comming.....as for this you only have to pay5% now and the next payment is well due after 1 month of city scape giving you enough time to sell it before the next payment is due and make a decent profit.

What is the pyt plan: what have you paid so far, when is ur next due, what is the premium to pay....pls post some details.

 

[fahdc]

What is the pyt plan: what have you paid so far, when is ur next due, what is the premium to pay....pls post some details.

10% is paid....its a 1 bed covered area is 676.63 sq/ft and total area is 762.74 sq/ft. The next payment is due in Novemebr 5th giving u 1 month in between the city scape and next payment. I am askin 5% premium (negotiable)...parking is also included!

 

[blackberry2k]

The 30/70 payment plan properties are on gross area or net area ? i heard people saying that sold these properties on gross. anyone has an insight ?

10% is paid....its a 1 bed covered area is 676.63 sq/ft and total area is 762.74 sq/ft. The next payment is due in Novemebr 5th giving u 1 month in between the city scape and next payment. I am askin 5% premium (negotiable)...parking is also included!

 

[Mendozo]

The 30/70 payment plan properties are on gross area or net area ? i heard people saying that dynasty zarouni has sold these properties on gross. anyone has an insight ?

Yes you are right, has sold q-point on gross area. By the way, from now on RERA is prohibiting any developer/real estate agent to sell on net. All the properties in Dubai must be sold on gross.