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

[New_Investor]

Hi,

i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
Up to 95% financing available from Tamweel
On the spot approva
located at the intersection of Emirates Road and Al Ain road
Freehold property ownership
One, Two, and three bedroom apartments
Units priced from AED 334,000 to AED 1.07 million


Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

Appreciate your advice
Thanks
Hesham

 

[mpat]

Mazaya is a good developer and for sure it wil ldeliver good returns.... and work out well.
bye

 

[New_Investor]

Mazaya is a good developer and for sure it wil ldeliver good returns.... and work out well.
bye

Thanks for the reply, but could you please explain more why do you think it's a good developer? and why it would yeild a good return?

Thanks
Hesham

 

[mpat]

Becos MAZAYE is a reputed developer from kuwait ( I think from kuwait or qatar ) and has delivered good projects in UAE and is attached with TAMWEEL and other reputed finance houses who generally dont attach anyone with them just like that.I was trying to invest there in the beginning but somehow could not happen, just last week a friend of mine bought the whole floor. fyi.

 

[New_Investor]

Becos MAZAYE is a reputed developer from kuwait ( I think from kuwait or qatar ) and has delivered good projects in UAE and is attached with TAMWEEL and other reputed finance houses who generally dont attach anyone with them just like that.I was trying to invest there in the beginning but somehow could not happen, just last week a friend of mine bought the whole floor. fyi.

Thanks for the help
how much was the floor price PSF?

 

[mpat]

I think it was 950 PSF

 

[Wannaberich]

Could you send the link of the thread for Q point, i cant find it on the domain - there're so many threads

Thanks

Go to 'Masterplanned Projects by Mizin' then 'Project Liwan'

 

[New_Investor]

Found it, Thanks it's really helping to make a good idea about the situation.

Well, every thing looks ok, i mean it's a reputable Developer who has a tie with TAMWEEL, Strategic locatin, good quality building !!!!

so what's the catch? why the prices are so low, i dont like deals where it's too good to be true?!! sorry for being extra cautious, but it will be my first realestate investment and i'm little bet wired up!

 

[mpat]

Found it, Thanks it's really helping to make a good idea about the situation.

Well, every thing looks ok, i mean it's a reputable Developer who has a tie with TAMWEEL, Strategic locatin, good quality building !!!!

so what's the catch? why the prices are so low, i dont like deals where it's too good to be true?!! sorry for being extra cautious, but it will be my first realestate investment and i'm little bet wired up!

The reason of low prices is a bit unknown, but for sure , investors will reap goood rewards there......

 

[mpat]

Thanks for the valueable information, i'm actually trying to do so, that's why i'm asking a lot of questions

any way i guess u sound uncomfortable at this project, i've the same feeling since it's the company's first project in dubai and not to mention that construction start date is still unknown where the project was launched almost more than a year ago and still noting is going on

That's why this project is sending a mixed signs !!!

Thanks
Hesham

Hesham

I was at the site yesterday after reading your posts and want to tell u that construction is going on there,. ,. ,. I will try to psot some pictures tomorrow or day after...The reason for delay should have been the delay in handing over the plot to the developer...
Bye

 

[Roshan]

Hi,

i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
Up to 95% financing available from Tamweel
On the spot approva
located at the intersection of Emirates Road and Al Ain road
Freehold property ownership
One, Two, and three bedroom apartments
Units priced from AED 334,000 to AED 1.07 million


Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

Appreciate your advice
Thanks
Hesham

Mazaya is a good developer. Que point is opposite academic city. You will have a lot of students looking out for places. What more can u ask for.

1 BDR would be a good investment.

What are the current rates, pls let us know.

Roshan

 

[qam]

Hi

Hi,

i'm looking in to buying a property in a project called Queue point and the Developer is called mazaya,
Up to 95% financing available from Tamweel
On the spot approva
located at the intersection of Emirates Road and Al Ain road
Freehold property ownership
One, Two, and three bedroom apartments
Units priced from AED 334,000 to AED 1.07 million


Question is, I need advice for this project weather it's going to have a good return or not, as i'm worried about the developer, has any one heard about this project or developer?

Appreciate your advice
Thanks
Hesham

Hi

who is selling this to you?? website??

check out if the project is registered with RERA at Land Department
u can also check out if the project is registered too

regards

qam

 

[New_Investor]

Mazaya is a good developer. Que point is opposite academic city. You will have a lot of students looking out for places. What more can u ask for.

1 BDR would be a good investment.

What are the current rates, pls let us know.

Roshan

It's a resale with really low premium of 5% the price is 900/sqf

 

[New_Investor]

Hi

who is selling this to you?? website??

check out if the project is registered with RERA at Land Department
u can also check out if the project is registered too

regards

qam

Hi
thanks for the tip. i searched the RERA - Al mazaya (developer) is registrerd, however the project (q point) is not.

what is the risk of buying a non registerd project?

 

[qam]

Hi
thanks for the tip. i searched the RERA - Al mazaya (developer) is registrerd, however the project (q point) is not.

what is the risk of buying a non registerd project?

hi

the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

qam

 

[Roshan]

hi

the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

qam

Since the project was started long time back. I do not think it's covered by Escrow ??.

Roshan

 

[New_Investor]

I tried to contact the developer for sales inquirey but they didnt return my call back, which is something that i dont appreciate, first impression is not really great so far!

 

[Roshan]

Since the project was started long time back. I do not think it's covered by Escrow ??.

Roshan

Just to quote on my own post.

After a meeting with RERA, I understand a mandatory trust ( Escrow )account has to be opened.

As per Escrow pls note that payments should be made to the trust account and not directly to the developer.

RERA is dead serious on this and it's only a matter of time before the full thing is streamlined.

Regards

Roshan

 

[New_Investor]

Just to quote on my own post.

After a meeting with RERA, I understand a mandatory trust ( Escrow )account has to be opened.

As per Escrow pls note that payments should be made to the trust account and not directly to the developer.

RERA is dead serious on this and it's only a matter of time before the full thing is streamlined.

Regards

Roshan

will this also be applied on older projects like q point?

 

[Roshan]

hi

the best people to answer that question is rera themselves and al mazaya. call al mazaya on their tel no from website and ask them how long the project will take to be reg with rera. also make sure your money goes into an escrow account that way it will be guaranteed by the bank.

qam

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

Regards

Roshan