UAE Property Investment Forum

Dubai Marina Dubai Marina is one of the largest and most meticulously planned waterfront developments in the world. The Marina project consists of luxury apartments and villas set against the backdrop of a stunning man-made marina and views of the Palm Jumeirah. With most of the projects nearing completion and properties having been sold over and over, what do you feel about Dubai Marina? Has it been a good investment or a failure? Do you have any concerns over occupation of the properties? Share your views and opinions here.

Reply
 
LinkBack Thread Tools Display Modes
(#1 (permalink))
Old
rafael9v9v Offline
Junior Member
 
Posts: 19
Join Date: Feb 2007
Default Ocean Heights - 05-05-2007, 03:00 PM

Hi everybody.
I have also done the deed and invested in an apt in OH. What can I say!!! I’m not impressed so far, serious delays are really starting to bug me, especially because I didn’t even receive a letter to tell me that the completion date had changed, and surprise the payment dates are the same as when I originally signed the contract. All that money invested and a brick hasn’t even been laid!!
I think all damac investors need to get together and form some sort of representative group, otherewise we are all gonna get stuffed if things go wrong and we need someone to speak up for us when damac try to take advantage of us.
Reply With Quote

Sponsors

(#2 (permalink))
Old
zane98h2 Offline
Junior Member
 
Posts: 14
Join Date: Feb 2007
Default Re: Ocean Heights - 05-05-2007, 03:01 PM

Just been told that Damac will be writing to all investors in OH over the coming weeks.

I assume to explain the delays, give a new completion date and an idea of when the main contractors will be moving in.

Lets hope its good news!
Reply With Quote
(#3 (permalink))
Old
chance7a7a Offline
Junior Member
 
Posts: 19
Join Date: Feb 2007
Default Re: Ocean Heights - 05-05-2007, 03:02 PM

The problem with this one, besides their CEO saying that there is a lack of construction workers to employ for it, is that they are still charging £200k for a 1-bed apartment... so they're obviously not selling as well as they would like. It's a catch-22 situation now - Do you lower prices in order to make sales at the risk of shamefully cheapening the product, or continue and hold out at the current rates and risk ppl opting for cheaper deals elsewhere..???

I wouldn't like to be in Peter's shoes right now. But its amazing how they still put a brave face on as if everything is fine... but for how much longer?
Reply With Quote
(#4 (permalink))
Old
ismael Offline
Junior Member
 
Posts: 29
Join Date: Feb 2007
Default Re: Ocean Heights - 08-05-2007, 01:51 PM

Damac have decided to increase the number of floors from 82 to 89. They still have 75 units unsold from the original plan. As far as I see it's a cunning ploy to please the investors.
Reply With Quote
(#5 (permalink))
Old
ramon Offline
Junior Member
 
Posts: 23
Join Date: Feb 2007
Default Re: Ocean Heights - 08-05-2007, 01:53 PM

Worst news ever. it will them take even longer to sell it.

what about starting construction.. they already had problems with the design, I hope this was caused by the increase of floors, and they don't have to redesign it AGAIN now...
Reply With Quote
(#6 (permalink))
Old
bluereflex Offline
Junior Member
 
Posts: 2
Join Date: Sep 2007
Arrow Re: Ocean Heights - 24-09-2007, 06:40 PM

I understand that the current completion date is December 2009. Has anyone heard any different?
The increase in the number of floors is a new issue. I am waiting a reply from Damac's CRM department.
Can anyone suggest a reliable reseller in Dubai please?

thanks all.
Reply With Quote
Reply

Bookmarks

Sponsors

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
OCEAN HEIGHTS, 82F Res, 310m [PART 2] andy9k Dubai Marina 4 24-09-2007 07:29 PM



Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.1.0