Jumeirah Village (South) and DSC

[zeitun]

Jvs

For those who are concerned by JSV I just took my car yesterday 23 rd of May 2008 and tried to make my own opinion about the actual situation because I also bought a flat there and got no news from the developper but words!! first the project is huge!!!i is far to be a village but looks like a city and not that small;
in respect of the project dimension there is nothing to point out but many excavations ,drillings,water pipes settings many machines working despite it was friday.The only realy advanced project is that of nakheel basements are over and they even built few storeys on the plot others diseminated buildings started rising .second :the whole project will need time to be ended in my mind not before 2012,if not a big supply PROBLEM OF water or power occurs in meantime(please refer to what happened in salam city at um el quwaim see the newspapers).third:I think the project should be wonderful it is fantasticaly located braced by two main roads not that far from sheikh zayed road and jebel ali "the dubai of the future".An advice:be patient do not sale under the pressure of an immediate rentability.by the way if any of you heard something about Franfurt tower developer:casamiastar.Thanks

 

[Wannaberich]

Two problems I see with JVS.First is that by the time some of the buildings are complete,say 2010/2011,this is the time when many predict a price correction will occur.
That will mean lower re-sell prices plus lower rents.
Secondly,if your intention is to rent your property then who do you rent to?Places like IMPZ and DSO will have many workers whereas JVS is many residential.

 

[Roshan]

Has anyone heard of Maimoon Towers coming up in JVS? I hear the psf is 1190? Any idea about who the developer is?

Fakhrudin properties. They have been around for over 40 years, so they claim.

They are reliable and have delivered a few buildings in International city.

Dhs 1190 is on gross and not on nett. This developer sells on gross areas as most developers do these days.

There are still a few though who sell on nett.

Regards

Roshan

 

[Hameed]

Two problems I see with JVS.First is that by the time some of the buildings are complete,say 2010/2011,this is the time when many predict a price correction will occur.
That will mean lower re-sell prices plus lower rents.
Secondly,if your intention is to rent your property then who do you rent to?Places like IMPZ and DSO will have many workers whereas JVS is many residential.

What is the size of the population JVS is going to cater for?

 

[Hameed]

Has there been any new development in JVS or is it still Nakheel doing foundation work? Has any developer started any building work?

 

[Mohamed]

Has there been any new development in JVS or is it still Nakheel doing foundation work? Has any developer started any building work?

Just to answer your questions, developers seem to be giving varying stories, but the majority of them seem to be blaming Nakheel for the delay in JVS. Saying that, Al'Farra properties seem to be building their 'Le Grand Chateux' project at full speed and I recall it was already at 4-5 floors up with some people talking of completion by December this year! This begs the question if it's all Nakheel's fault, then how comes Al'Faraa are progressing well ????

Personally, I think there's more to it than just blaming Nakheel. JVS is a mixture of small and medium developers, who maybe aren't coping well with the publicised hike in construction prices (?). Who knows, but there's something fishy going on in JVS. I'm just glad to have pulled out of JVS.

All the best to those with investments in JVS . . .

 

[Hameed]

What is the latest on JVS? I heard from other members of the forum that one of the companies is truggling to complete their project? Those on ground, can you please provide an update as to the latest progress?

 

[mpat]

What is the latest on JVS? I heard from other members of the forum that one of the companies is truggling to complete their project? Those on ground, can you please provide an update as to the latest progress?

I can tell you that there are many developers started working in JVS at present,some are known one s liike HYDRA , some are unknown.... But Its now started building... Though at a very less propoertion of buildings are being built in comparison with the number of launched oones in JVS....

 

[Hameed]

What is the latest on JVS? Has anyone invested in R&R apartments? If so what is the latest on this. I was told it will be completed by now but I wonder if a start has been made on this?

 

[zeitun]

HEllo hameed according to last news regrding JVS things are going slowly but surely 60% of basic works are almost finished .now it starts to look at least to something.But the question remains the same still the developpers going to keep their projects on hold?How many on the total of them will accept to pay the finished plots hand over them from nakheel and start construction?I realy have some concerns about the matter the market is plunging and real situation on short and medium term is unclear.also what about prices per sqft actually? could any one give me an information?Could one that already got an option on a property negotiate again the price because of the actual real estate downturn?
Thanks for your advices.

 

[Wannaberich]

http://www.business24-7.ae/Articles/2009/5/Pages/10052009/05112009_a2f36b24d5a743338197ec301df2cf74.aspx


Around 567 plots in the Triangle component of Jumeirah Village are in the design stage, according to Nakheel.

In an exclusive project update with Emirates Business, the developer said

255 designs have been approved and 132 are in progress status from the 387 projects in the final design stage. Likewise, of the 180 plots in the design stage, 140 are in the approval phase and 40 in progress. Around 150 plots are under construction and around 85 per cent of the infrastructure work is complete on the Triangle at Jumeirah Village, said Nakheel.

Nakheel is in regular discussions with RTA and the progress regarding the surrounding works for Juemirah Village. "However, these are public projects and not Nakheel projects so we are not in a position to comment on behalf of RTA," said CEO?of Nakheel, Chris O'Donnell.

Meanwhile Nakheel Joint Ventures brought to fruition a range projects across various industry sectors including residential, hotels, entertainment and leisure and retail holdings, according to O'Donnell.

Taysheed LLC, a property venture company with the Dubai Islamic Bank, the world's first fully fledged Islamic Bank, was formed in 2008. It is currently studying different projects.

A joint-venture company was formed in partnership with the Indian hoteliers Bharat Hotel Group to develop a five-star Grand Fort Hotel at Al Furjan, Dubai. Nakheel and Bharat Hotel Ltd will be equal partners in the venture. The 293-room hotel will have a strong Rajasthan-Indian influence and include a spa, business and conference facilities, extensive grounds, restaurants and retail outlets. The project is in the design stage, with completion anticipated in late 2012.

"The Golden Mile is a joint venture agreement continues between Nakheel and IFA Hotels & Resorts. The project is nearing completion, with full handover anticipated by July, 2009," said O'Donnell. The joint venture is responsible for the development of the Palm Golden Mile on Palm Jumeirah, which comprises 10 buildings overlooking both sea and park views. Nakheel and IFA are equal partners in the joint venture. IFA is performing the Development Management, Asset Management and Sales and Marketing services for the Joint Venture Company.

"On The World project, we expect to see construction on some of the islands begin this year. Reclamation on The World was complete in January 2008. Thirty-two islands have been already handed over and early works have begun. Once the developers take the handover on their islands and have their development concepts approved, they can begin soil investigation and then seek building permits to actually begin construction on the islands," said O'Donnell.

The World's Construction Logistics Port has been operational. Located off Al Mina Road and before the Al Shindagha Tunnel, this facility caters to the needs of The World and its clients.


Project status

- Jumeirah Heights: Will commence handover of first apartment in 2009

- Jumeirah Park: 70 per cent of the project sold with 900 villas to be handed over by end of 2009

- Jumeirah Village: 2008 handover of first 300 villas has commenced and continued through January. 2,000 villas to be handed over by end-2009

- Jumeirah Islands Mansions: 24 mansions to be handed over mid 2009

- Nakheel will begin handover of 500 berths at Anchor Marina in 2009

- Handover of the first properties in Badrah will be delivered in 2010

- Handover of the first properties in Veneto will be delivered in 2010

- More than 900 homes at Marina Residences, Palm Jumeirah will be handed over this year.

- Handover of the first properties in Al Furjan are on schedule for late 2010

- Homes in the Emirates precinct in International City will be available for occupancy in Q1 2010

- Construction in Lake District is progressing and homes will be available for occupancy starting 2011

- Reclamation on The World islands was complete in January 2008, and some islands have been handed over already and early works have begun

- Trump Tower: Due to the market conditions, Trump Tower has been deferred for 12 months

- Forbidden City: Due to the current conditions, Forbidden City has been deferred for 12 months

- Dubai Promenade: Due to the current market conditions, Dubai Promenade has been deferred for 12 months

- Nakheel Harbour & Tower: Due to current market conditions, Nakheel Harbour & Tower has been deferred for 12 months

- QE2: On Hold

- Palm Jebel Ali: Work is progressing in stages

- Mina Rashid: Work is progressing in stages

- Palm Deira: Work is on hold

 

[Hameed]

What is happening with regards to R&R Tower 1 project though. Has this project been given the go ahead? Has anyone got any specific info on this project?