Wings of Arabia - any ideas?

[New_Investor]

Hello - i got an offer to buy at wings of arabia at price of 900 psf, which i think is high,

i'd like to have your advice about the same as i have very little info about the project and the developer ACI.

if any one has a better price for the same project in a 1BD - please contact me.

 

[Roshan]

Hello - i got an offer to buy at wings of arabia at price of 900 psf, which i think is high,

i'd like to have your advice about the same as i have very little info about the project and the developer ACI.

if any one has a better price for the same project in a 1BD - please contact me.

ACI has almost 6 to 8 projects in Dubai. They are a German consortium and seem to be OK.

Dhs 900 psf is hopefully for residential. Pls note that ACI sells on gross areas. So when converting to net, usually around 15 the price is Dhs 1035 psf which is still acceptable as per Dubai prices.

I am sorry I have not researched much on this and someone else should be able to help out. However these days one cannot get a house for that price in Dubai.

Regards

Roshan

 

[New_Investor]

ACI has almost 6 to 8 projects in Dubai. They are a German consortium and seem to be OK.

Dhs 900 psf is hopefully for residential. Pls note that ACI sells on gross areas. So when converting to net, usually around 15 the price is Dhs 1035 psf which is still acceptable as per Dubai prices.

I am sorry I have not researched much on this and someone else should be able to help out. However these days one cannot get a house for that price in Dubai.

Regards

Roshan

Roshan,

appreciate your feedback, you're right this price is becoming increasingly difficult to find in dubai, however i've heared a lot of romers about COA is faceing a lot of infrastructure issues and might face a mass cancelation of projects.

any more insight is highly appreciated.

 

[LuckyNumber]

Personally I wouldn't buy anything from ACI.

 

[New_Investor]

Personally I wouldn't buy anything from ACI.

Can u please explain more about this? do you have any recent history with ACI?

 

[LuckyNumber]

I'd rather not post in public to be honest. I dealt with them in the past, flipped out of my position and moved on. Made 100% in 6 weeks was very happy. glad I didn't go back though!!

 

[New_Investor]

I'd rather not post in public to be honest. I dealt with them in the past, flipped out of my position and moved on. Made 100% in 6 weeks was very happy. glad I didn't go back though!!

I totally respect your attitude of not posting on publick, i'd realy appriciate if you could PM me the same.

 

[DAYFox]

... i've heared a lot of romers about COA is faceing a lot of infrastructure issues and might face a mass cancelation of projects.

any more insight is highly appreciated.

A mass cancelation??? Infrastructure in COA is almost done, so why should they cancel the whole project? -which is by the way a milestone for Dubailand!

 

[New_Investor]

A mass cancelation??? Infrastructure in COA is almost done, so why should they cancel the whole project? -which is by the way a milestone for Dubailand!

I heard this again as a "Romers" some peopel are saying is due to delay from galdary "Master developer" in handing over the infrastucture, developers will not be able to commence their projects with their old prices due to the current rise in construction costs.

and again that's what i heard, i dont know is it true or not!!
but still i guess it makes a little bit sense..

 

[Roshan]

Roshan,

appreciate your feedback, you're right this price is becoming increasingly difficult to find in dubai, however i've heared a lot of romers about COA is faceing a lot of infrastructure issues and might face a mass cancelation of projects.

any more insight is highly appreciated.

No registered developer with RERA can cancel projects...period. Even one's who have not registered will be penalized heavily by RERA, so they have no option to register.

One can forget about cancelling projects in Dubai..times have changed. See what happend to Damac on the Palm springs project.

Regards

Roshan

 

[LuckyNumber]

One can forget about cancelling projects in Dubai..times have changed. See what happend to Damac on the Palm springs project.

Projects are getting cancelled daily, and completely hushed up. I had a project cancel a year ago and I am due the 10% I put down. I was told not to worry because the government was behind it etc etc..

I have also heard that some of the big guys are cancelling projects now, and some of the more ambitious developments are changing their master plans to reflect the changes that are going on out there. When it costs a developer over 1000 to buy land and build and they have sold out at 800, then where is the motivvation to even start thinking about building!

DMAC is a large House of Cards and there are many more out there - as always buyer beware!