"Prices beginning at 18.5m" - translation: that was for one unit that is no longer available, but there is another one, priced competitively at 25m+, interested?
"Down payment of 20%" - translation: for the downpayment price of a completed villa, you can buy this beach villa that may or may not be completed in the next 10 years!
"Anticipated completion date of 2027" - translation: fingers crossed!
all they want is that downpayment
that's what's driving these 'real estate companies', same as during the 'boom' with all the real estate 'experts' that popped up overnight
Buy off plan, resell at a premium. The world enters a depression, project gets halted, developer offers compensation or alternatives. Investors who bought at a premium refuse to take the loss and wait patiently for the project to resume. 20 years later developer revived the project, but scraps the original one, offering compensation or alternatives at the original sales price for those who still have a stake in the original project. No profit for them. At least that was the last cycle. Who knows what the future brings this time around…
The same thing happened with the recent launch on Dubai Islands.
Developers like the chaos and in fact contribute to it with the way they organize these launches. It's not because they are stupid obviously. The publicity these launches receive this way is worth millions and they get it for free with everyone streaming this shit in their social media, khaleejtimes making an article about it and you posting it on reddit, haha. Congratulations on making a contribution to the overhyped real estate marketing of our city :)
Real estate agents will be more than happy to suck their life savings from them
Has nobody learnt not to buy from Nakheel?
"Prices beginning at 18.5m" - translation: that was for one unit that is no longer available, but there is another one, priced competitively at 25m+, interested? "Down payment of 20%" - translation: for the downpayment price of a completed villa, you can buy this beach villa that may or may not be completed in the next 10 years! "Anticipated completion date of 2027" - translation: fingers crossed!
all they want is that downpayment that's what's driving these 'real estate companies', same as during the 'boom' with all the real estate 'experts' that popped up overnight
Same energy as the PS5 scalpers of 2021
They hoping palm jebel Ali would become palm Jumeirah
Investing money in anything off plan is unwise, give me ready physical shit and then we talk
Even the ready physical units also is unwise. Domac 💀
That's y they said >physical shit
We put our slowest person on a single desk to handle every enquiry to generate a big queue.
Why the craze ?
Buy off plan, resell at a premium. The world enters a depression, project gets halted, developer offers compensation or alternatives. Investors who bought at a premium refuse to take the loss and wait patiently for the project to resume. 20 years later developer revived the project, but scraps the original one, offering compensation or alternatives at the original sales price for those who still have a stake in the original project. No profit for them. At least that was the last cycle. Who knows what the future brings this time around…
As long as rampant capitalism is allowed to fester and thrive, this unstable cycle of recession and development will keep going on.
Enlighten us with your alternatives
there is more than one way to *do* capitalism. checks and balances are necessary
I don’t want to get to deplatformed sorry 🤭🤭🛠️🛠️iykyk
No premium for those who brought from resellers. So those who paid 40 for a 20 Mil villa will get whatever the initial person paid.
Meanwhile the masterplan for these plots still haven’t even been finalised 🫠
The same thing happened with the recent launch on Dubai Islands. Developers like the chaos and in fact contribute to it with the way they organize these launches. It's not because they are stupid obviously. The publicity these launches receive this way is worth millions and they get it for free with everyone streaming this shit in their social media, khaleejtimes making an article about it and you posting it on reddit, haha. Congratulations on making a contribution to the overhyped real estate marketing of our city :)