aquabelgium
my eye fell on this project since it is outside dubai and is one of the only project that meets my financial criteria (5000 AED in 3y , 250.000 AED)
but i find it rather dangerous, how big is the chance they don't complete the project and I'm left alone with nothing (loss 250K AED)
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somebody has more information about the people behind project (reliable ?)
you don't buy every day real-estate in dubai :) think its a normal question from serieus consideration
(not like, hey i wanna go to dubai but i don't have work, will i find work in 60 days, oooh doo you know a cheap place to stay :)
MaaaD
can you post a link to the development ? who is the developer ? who is doing the financing ?
dbxsoul
hi aquabelgium
i agree with maaad - please post some reference, i have been through my list of projects which i subscribe to and can't find any reference to it.
i'd also be cautious, as there was an incident about 2 weeks back where a developer disapeared with the investors money. if it sounds to good to be true, it normaly is!
aquabelgium
there is information here
and also here
and also here
dbxsoul
hi there aquabelgium,
i looked through the websites, they all seem to contain the same information re-hashed, as if one had simply cut and pasted the info.
no where does it say who is the project owner, the developer, the main contractor etc.... but it does go into great detail on the payment side of things. i personally would find this a little disconcerting. i also see that the occupancy date is scheduled only from december 2008 - arnie is the property expert it may be worth checking with him.
another interesting little bit of info... i once worked on a project where the word "paradise" was used in the project name... to cut a long story short, after about a year, we were told to drop the reference to "paradise" as only Allah and not man could create paradise on earth. this directive came from the very top!
MaaaD
i second dbxsoul .. the websites you linked to are not the developers but rather seem to be agents who are selling. do you have a direct link to the developer ?
aquabelgium
ok this should be reseller
Iordan Gounov
Senior Property Consultant
Sweet Homes Real Estate LLC
P.O.Box- 35616
Dubai
U.A.E
tel:
fax:
mobile:
00971 4 2955640
00971 4 2955641
00971 50 5586442
MaaaD
aqua we are asking about the developer the company who is building the thing and not the reseller.
aquabelgium
Development designed by "Adnan Safarini", financed by the Ruler's family in Ajman.
I post developer when I know it.
arniegang
I would be very very careful if qnyone is thinking seruiously about this.
Buyer BEWARE
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MaaaD
ya i agree so far aqua this is looking very shady :)
Concord
Seems to me that on the surface you might have a better return on your money by investing in "Scourers R Us" a reputable company run my DFM and fully vetted by many members of Dubai Forums. If you are interested your queries will be happily responded to and your money will grow and grow...
With respect to the potential investment your first mentioned - it may be wiser to keep your money in the bank and look elsewhere unless and until you have researched the matter properly. Unless of course you are promoting the property rather than "asking about it" (stranger things have happened!)
Walker
OK, I can't say I have any 'inside' knowledge of this and have only a passing interest in this (and a LOT of spare time).
This is what I have found out about Paradise Lakes-project so far.
I have written to the Contractor (or one that is portraid as one) who are 'Real Estate Investment Est.' () and they have referred me to two or three Estate Agents dealing with the projects sales.
I must address that this information that is provided to me via Fax, E-mail and Phone. But I can NOT be 100% sure that it is genuine.
The Developer is said to be (this from ReInvest and Estate Agents) HH Shekh Rashid Al Noyami,son of the ruler of Ajman
HH Shekh Humeid Al Noyami.
Once again, this is only information provided to me by third parties. So I can NOT be 100% sure of its value and truth.
Also, I am no expert in UAE property matters, but this is what I have managed to 'dig up' in the last few days.
I suppose my advice is to search things as well as you can, and if you are happy with the details provided to you, then go ahead. Spend your money, and nothing in life is for sure, so why not take some risks.