Hi Prince Sam. I can offer you some advice. Abu Dhabi will be great for the future. Demand there is genuine. Reports state that 280,000 people are living outside AD but working in it because of shortage.
It doesn't matter that you missed Cityscape. because the rates there were really really high. For example, Just the Arch tower (front part of The Gates) was launched starting at 2,700 aed per sq ft for the first floor.
Hydra even launched at 4,100 aed per sq ft. It would be a much wiser investment to buy in the re-sale market and hold for a few months. You would then be able to make a good profit. 1 bed rooms under 1,000 sq ft are the best for re-sales.
There are people who have bought last year for well below 2,000 aed per sq ft. But the problem buying from them is that you have to pay a large premium. Also 30% or more is paid down already.
They key for you is to buy at a low rate with little amount to be paid now. For example, there is a unit on the ever popular Al Reem Island by Hydra Properties. Hydra Heights. It is a 1 bedroom apartment. Size is 753 sq ft. #1303 (on the 13th floor).
Original price is only 2,060 aed per sq ft. It is available for only 2,080. So the premium you would need to pay is only 15,000 aed. Transfer is 2% for Hydra. Which is about 40 aed per sq ft. This is a great deal if you are interested. There is no commission involved as seller is direct. Only 20% is paid so far. Next payment isn't till December 1st 2008 for 10%. Then its 10% after 4 month.
Similarly, if you are interested in The Gates. There is a unit in Tower 2. 21st floor. #2114. 1 bedroom apartment. Size 950 sq ft. Original Price is 2,366 aed per sq ft. Selling price is only 2,377 aed per sq ft. So you would only need to pay a premium of 9,500 aed! Plus 2% transfer. Similarly direct seller so no commission. Only 15% is paid. 5% is due november 5th. Then 10% in Feb 2009.
There is a deal like this in Al Qudra's Amber Tower as well on Al Reem (Shades district).
Let me know if you are interested in any of these excellent deals. They are all good for investment, with very little premium and offer some time to make profit by re-selling.
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