7 replies to this topic

[malec]

Not a very big project but still quite nice:


  

  

  

[mcheiss]

I've heard of this project, isn't it the 50 Mid-Rises that are suppose to cater more towards the middle Class?

[dpbaker]

mcheiss, on Jan 14 2006, 10:14 AM, said:

I've heard of this project, isn't it the 50 Mid-Rises that are suppose to cater more towards the middle Class?

It does look nice. What is the project called? Is it "Dubai Lagoon"? What is "middle class" here? Or rather, how much would these cost versus some of those really upscale dwellings? Any idea?

[mcheiss]

dpbaker, on Jan 14 2006, 12:37 PM, said:

It does look nice. What is the project called? Is it "Dubai Lagoon"? What is "middle class" here? Or rather, how much would these cost versus some of those really upscale dwellings? Any idea?

Middle Class is probably around $250,000 for an apartment. Some of the upscale apartments can sell for millions.

The project is called Dubai Lagoon.

[dpbaker]

mcheiss, on Jan 14 2006, 10:39 AM, said:

Middle Class is probably around $250,000 for an apartment. Some of the upscale apartments can sell for millions.

$250,000, now that isn't too bad! Geez, around my area condos are starting to push $400-500k!!! I'd be interested to know what $250,000 might get you. How does it work there; if you've got money, they've got housing? Pretty welcome to foreigners? It certainly seems like Dubai in general is open and welcome to anybody.

[mcheiss]

dpbaker, on Jan 14 2006, 12:45 PM, said:

$250,000, now that isn't too bad! Geez, around my area condos are starting to push $400-500k!!! I'd be interested to know what $250,000 might get you. How does it work there; if you've got money, they've got housing? Pretty welcome to foreigners? It certainly seems like Dubai in general is open and welcome to anybody.

It's very welcome to foreigners, Dubai is a very safe and clean city.

The problem with a lot of housing is that it's sometimes hard to get an apartment, because many projects sell out before construction starts or you are put on a waiting list.

[dpbaker]

mcheiss, on Jan 14 2006, 10:50 AM, said:

It's very welcome to foreigners, Dubai is a very safe and clean city.

The problem with a lot of housing is that it's sometimes hard to get an apartment, because many projects sell out before construction starts or you are put on a waiting list.

So, on that idea, do you think a lot of companies buy out the projects ahead of time so they can sell individual units at a greater profit once the project is complete? Is that a practice allowed there?

[mcheiss]

dpbaker, on Jan 14 2006, 12:54 PM, said:

So, on that idea, do you think a lot of companies buy out the projects ahead of time so they can sell individual units at a greater profit once the project is complete? Is that a practice allowed there?

To tell you the truth, I'm not sure if the projects are sold out to private companies or individuals. I'm almost positive it's private companies, which is a practice allowed.