What s the price in Motor city by the way . . . ? and how many buildings there ?
I invested in a 3 bedroom ( 1987 net area not gross + balcony ) in the 1st phase for 1.4 million dirhams and I am satisfied the way it's moving.
There are 7 phases and phase 3 will be launched by end Jan 2008. It's basically a community kind of living with 24 hour security, parks, pools, schools. It will be close to the F1 theme park, Autodrome and all that goes with it.
Their terraced apartments work out expensive as you have a balcony which is almost 500 sq ft and might not be suitable for families. Besides you will be paying helluva lot for the balcony portion.
Union properties have taken the rights to build Motor cities all over the world. Motorcity will cater to a niche segment. Besides the developer is good, In Dubai land which is going to be the heart of the city when fully developed probably by 2012.
Developer is good, location good, will attract people who have money (motoring crowd are high profile and have the money ). Should be a good invesment.
Payment plan is 40% during construction, 60% on completion. Construction has already started and will be delivered on time. All leading banks are providing finance upto 80%, depending on your profile of course. Current rates hover around 800 to 850 dhs per sq ft. First phase is due for handover in mid 2009. hat more can you ask for.
Access the Union properties site for more details.
Good luck.
Regards
Roshan
