Al Furjan Master Community  

Access regular updates on investment opportunities and analysis of Al Furjan Master Community

  • Large G+1 Plot in Al Furjan. Selling below Original Price.

     Mar 01 2017  Al Furjan Residential Land  Residential Plots  Nakheel

    Al Furjan Residential Plots are located behind The Gardens and just a few minutes off from Sheikh Zayed Road. In 2013, Nakheel launched about 200 G+1 residential plots at prices ranging from AED 220 - 260 per sq. ft.

    The infrastructure development of the community is nearly completed; and construction can begin on the plots by Q2 or Q3 of 2017. All plots are 100% paid and can be purchased from the secondary market.

    There's a few excellent buying opportunities at the moment; currently there are plots available with prices ranging from AED 195 - 220 per sq. ft.

    Just to highlight one particualar option: there's an excellent plot available with a (rare) large size of 7,853 sq. ft., which means a villa with a built up area of 5,889 sq. ft. can be constructed on it.

    This plot was purchased for AED 230 per sq. ft. and is being sold below cost at AED 215 per sq. ft.

    Back of the envelope feasibility: Plot price works out to be AED 1,688,395.00 + 6% closing costs = AED 1,789,698

    Constructon costs / approval costs to build a high-end 5 or 6 bedroom villa is about AED 250 - 300 per sq. ft. (AED 1,472,250 - 1,750,000)

    Total cost to build a high-end customized villa = AED 3,300,000 - 3,600,000; which means that for both an investor or end-user, the financial feasibility is phenomenally attractive. We have several plots available for sale in the Al Furjan area; an area which is primed for growth due to the maturity of surrounding areas; plenty of ameneities, infrastructure developments and proximity to Sheikh Zayed Road.

    For clients intersted in learning more please contact Gibran Y. Bham +971.56.408.7616 or Kashif Ali at +971.50.708.6765

  • Glamz Tower 1 nearly sold out; Tower 2 sales have commenced.

     May 14 2016  Glamz Residence  Apartments  Danube Properties

    As of May 13th, 2015 - only 10 units out of 209 are available for sale in Glamz Tower 1. That is by all measures a pretty excellent sales result with over 95% of Tower 1 selling out within 8 days of launch. This is also a strong indication of Danube's strengthening brand as their marketing campaign for Glamz has not been as extensive as previous launches for Dreamz, Glitz and Ritz (now called Starz).

    For Tower 2, the developer has so far released floors 2, 7, 8 and 9.

    With the current pace of sales, we expect the project to be nearly sold out by the end of May 2016.

    Show apartments are available to view for the studio and 1 bedroom.

    To reiterate, prices for the units are as follows:

    Studios are for AED 470 - 520,000

    1 Bedrooms are for AED 815 - 850,000

    2 Bedrooms are for AED 1.14 - 1.18 million

    The Payment Plan is 10% down, 15% after 60 days and then 1% a month for 75 months. Completion is scheduled for September 2018.

  • New Danube Properties Launch: Glamz Residence in Al Furjan

     May 01 2016  Glamz Residence  Apartments  Danube Properties

    Glamz Residence by Danube Properties is set to launch in early May 2016. This project is located in Al Furjan, right next to Danube's Ritz development which was sold out between December 2015 and January 2016.

    Glamz will offer fully furnished studio, 1 and 2 bedroom apartments. The payment plan being offered is 10% down, 15% after 60 days and then 1% a month for 75 months. Completion of this project will be in 30 months which essentially means that investors will be paying about 53% between now and completion. Remaining 47% will be payable over 47 monthly installments following possession. This means that the significant portion of the purchase price will be paid off through future rentals.

    Glamz will be delivered in Q3 or Q4 of 2018.

    Apartments are fitted with modular furniture and a European technology convertible sofa that transforms into a full size bed with just a gentle pull.

    Al Furjan is a real estate hotspot and we consider Glamz Residence to be the best buying opportunity in the community at this point in time.

    Glamz is located just 2 minutes away from the new proposed Metro-line which will connect Dubai to the Expo 2020 site and is also a short drive away from Al Makhtoum International Airport and Dubai Parks. Glamz is close to Ibn Battuta Mall and some very reputable schools in the area.

    For investors Glamz is one of the best investment opportunities in Dubai at this point in time. For each of the property types (studio, 1 and 2 bedroom), an investor can expect rental income to cover between 90 - 95% of installment payments following handover.

    As an example, studio apartments are expected to have an average price of AED 470,000. By the time handover takes place, AED 220,000 would be payable over 47 monthly payments - which works out to be about AED 56,000 per annum. Current values for studios in Al Furjan and Discovery Gardens is about AED 45 - 55,000. So once you take into account maintenance fees but also the fact that these units will be furnished - the investor can easily expect over 95% of the installments to be paid by rental income alone.

  • Only 17 units left for sale in Ritz, Al Furjan

     Feb 07 2016  Ritz Residence Al Furjan  Apartments  Danube Properties

    As of Feb 7th, 2016 only seventeen apartments are available for sale. This means that Danube have managed to sell a total of 430 out of 446 units in just 5 weeks - an outstanding result in a relatively slower market.

    All studios are now sold out.

    There are a total of 11 one bedroom units left with prices ranging from AED 809,000 - 837,000

    There are a total of 6 two bedroom units left with prices ranging from AED 989,000 - 1,030,000.

    Buyers are particularly attracted to this project because of an excellent investment feasibility. Over 30 months, a purchaser is paying 53% till handover of the apartment. The remaining 47% can easily be paid of by rental income on these properties.

    To learn more about purchasing in Ritz, or to view show apartments please contact +971-50-7086765

  • Ritz by Danube nearly sold out

     Jan 31 2016  Ritz Residence Al Furjan  Apartments  Danube Properties

    Ritz by Danube is now close to selling out. Buyers / Investors interested in this project should go ahead and make a decision to book within the next couple of days because at current sales pace, the project will be sold completely.

    Tower 1 sales concluded in the second week of January 2016. Since then Danube have started releasing a couple of floors for sale every few days.

    Yesterday, Danube held a formal / official launch of the project open to the public at the H Hotel on SZR.

    To learn more about purchasing in Ritz, or to view show apartments please contact +971-50-7086765

  • Dreamz by Danube Q4 2015 Review

     Jan 10 2016  Dreamz  Townhouses  Danube Properties

    Dreamz was Danube's first real estate project and was launched in 2014. All units were sold out a few weeks following the launch period.

    Today, the construction site has reached an advanced stage. All townhouse structured are clearly visible and a show townhouse is planned for the site within a few weeks.

    Since the launch of Dreamz, Danube have launched another 3 projects: Glitz 1 & 2, Glitz 3 and Ritz Tower.

    Investors in Danube projects expect that the developer will be delivering some real quality. The fact that Danube's primary business is building materials and furniture - the developer is able to meet scale thus offering value & buyer friendly payment-plans.

    There are currently a couple of good opportunities to purchase townhouses in Dreamz on original price (i.e. the first owner is selling without premium):

    3 Bedroom Townhouse: built up area of 2,650 sq. ft. - prices from AED 2.6 - 2.8 million.

    4 Bedroom Townhouse: built up area of 3,150 sq. ft. - price of AED 3.47 million (full park view)

    Now these prices are a bit higher per sq. ft. then ready Nakheel townhouses in Al Furjan. However, we believe that once buyers can see the quality and understand the better utilization of space in the Dreamz townhouses - then Dreamz has the potential of being a high-end gated niche development which commands higher values.

    To learn more about purchasing in Dreamz or to arrange a site visit, please contact +971-50-7086765

  • Launch Review: January 5th 2016

     Jan 05 2016  Ritz Residence Al Furjan  Apartments  Danube Properties

    The project has two towers and Danube are currently selling units in Tower 1. They plan to launch the second tower in late January and will probably increment priced slightly.Here's an overview of the investment feasibility:

    1. Excellent location. Located a short distance from Sheikh Zayed Road and very close to mature communities like Al Furjan Villas, Discovery Gardens, The Gardens, JLT and Dubai Marina.

    2. Al Furjan is a real estate hotspot - a term we use to define a high growth area. The new Metro-Line runs parallel to Furjan and the new metro-station is just 800 m away from Ritz.

    3. The developer has launched 3 other projects and all of them are ahead of delivery schedule.

    4. The units are fully furnished and furnished with high specs. There is a utilization of space innovation which makes these apartments very unique. There are show apartments available to view so you can see exactly what you are investing in.

    5. The payment-plan is fantastic. 10% down, 15% after 60 days and then 1% a month for 75 months. Delivery is in 30 months (June 2018).

    6. By the time you receive your unit, you would have paid 53% of the purchase price. The rental income of these units will cover over 90% of yearly installment fees.

    7. Current Prices: - Studios from AED 440,000 - 1 Bedrooms from AED 7655,000 - 2 Bedrooms from AED 1,025,000

    8. 1 Bedrooms have a special design that allows the living room to be converted into a 2nd bedroom at night.

  • Review of Apartment Market in Al Furjan

     Jun 09 2015  Al Furjan Master Community  Apartments  Nakheel

    Al Furjan is a real estate hotspot which is seeing quite a lot of development activity. This area's feasibility was recently given a boost when the Government of Dubai announced a Metro-Line extension which will run parallel to the entire Al Furjan master development.

    Just to recap; at present Al Furjan consists of villas & townhouses by Nakheel; Masakin Al Furjan - a small, gated, low-rise apartment project and the Avenue Residence by Al Jaziri Brothers. There are a number of projects under-construction including 5 mid-rise residential buildings by Azizi, Avenue Residence 2, Dreamz by Danube (townhouses), G+1 residential plots by Nakheel and more townhouses and villas by Nakheel.

    The apartment market here is mainly driven by the Azizi developments. These consist of 1, 2 and 3 bedroom apartments being sold at prices ranging from AED 875 - 950 per sq. ft. and buyer friendly payment-plans where you can pay 30% of the purchase price between now and completion and 70% upon handover.

    Masakin Al Furjan is seeing its prices fall and there are increasingly a number of excellent deals in the market for this community. Masakin has high-occupancy rates and most of the units are now occupied or owned by end-users. There are a handful of units which are still owned by over-leveraged investors - and those are the ones we are seeing enter the market at increasingly lower price points. For example, there are 3 bedroom apartments available at AED 1.4 - 1.45 million (that's a price point of AED 800 psf, and cheaper than even the Azizi development which is under-construction). Masakin Al Furjan's values are being affected because of the Azizi construction taking place directly infront of the complex which makes the project less desirable.

    Buyers looking to purchase apartments in Azizi would currently pay AED 830 - 920,000 for a 1 bedroom; AED 1.3 - 1.6 million for a 2 bedroom and AED 1.6 - 1.85 million for a 3 bedroom apartment.

    In Masakin Al Furjan: 2 bedroom apartments are ranging in price between AED 1.1 - 1.4 million; 3 bedrooms range from AED 1.4 - 1.7 million.

  • Al Furjan - Villas and Townhouses review - Q4 2014

     Nov 30 2014  Al Furjan Master Community  Villas  Nakheel

    This quarter (Q4 2014) we are witnessing a steep decline in prices and demand in Al Furjan. While this trend has been building for several months, we can now see the effects of the market slow down on this community.

    In December 2013 (a year ago), 6 bedroom villas in Al Furjan had an average transaction price of around AED 6.45 million. For Q4 2014, we record that the 6 bedroom is transacting between AED 5.45 - 5.9 million.

    Similarly 3 bedroom independent villas which peaked at around AED 4.3 - 4.4 million also in Q4 2013 are now in the range of AED 3.6 - 3.85 million.

    All property types have witnessed declines. However, the community's occupancy rate as of Q4 2014 is at 78%, so this is not a situation where there are many empty homes which in turn is putting pressure on home prices. Rather, people like this community and they appreciate the finishing of the homes. The community is fast maturing; a community mall has opened up close by, security guards and patrol are active and the community's plantation work is also matured.

    The only explanation for the continuous declines is of course the overall market conditions which has slowed - and that is well documented. But for Al Furjan specifically we see two issues:

    1. Al Furjan saw a lot of investor activity between 2012 and 2013. So one reason for the decline in prices is over leveraged investors trying to exit the market.

    2. The second challenge remains one of perception. The community struggled last year with news reports of severe traffic congestion and wait times of up-to an hour at times for exiting the area onto Sheikh Zayed Road. As far as we can tell, the problem hasn't been eradicated but improvements have been made. An exit onto Jebel Ali Road has also recently been opened.

  • Dreamz by Danube - August 2014 Review

     Aug 09 2014  Dreamz  Townhouses  Danube Properties

    Dreamz by Danube was launched in July 2014 with probably the biggest marketing campaign the city has seen since 2008. It is reported that Danube spent over AED 25 million on its marketing campaign - plastering almost every available billboard in the city with its brand ambassador - Sunil Gavaskar - the famous Indian cricketer.

    The size of the project (171 units) probably didn't justify such a large ad spend. But, because it was summer, it appears that the developer got real value in a traditionally lean advertising period. Secondly, Danube aims to be a major developer in this market, and a huge branding campaign will probably have positive knock-on effects for their next project launch - which interviews in the media indicate they are keen on doing.

    Dreamz has 3 and 4 bedroom townhouses. The advertisments for the 3 bedroom townhouses were starting at AED 2.5 million, but these were limited and smaller units of 2,450 sq. ft. built up areas with comparably poor road facing locations. The 3 bedroom townhouses that were actually available and in demand had a built up area of 2,650 sq. ft. and ranged in prices of AED 2.6 - 2.8 million (AED 980 - 1,056 psf)

    The developer offered three types of 4 bedroom townhouses: Type 1E (3,270 sq. ft.), Type 1M (3,150 sq. ft.) and Type 2 (3,150 sq. ft.) - with prices ranging from AED 3.1 - 3.45 million (AED 980 - 1,095 psf). Park facing untis commanded the highest price.

    All in all, this project had prices psf ranging from AED 980 - 1,095 psf which is a market price as the 3 bedroom townhouses in Al Furjan range from 1,120 - 1,100 psf.

    According to the developer all units were sold out. However, a call to the developer in early August indicated they had limited stock available due to 'Investor-cancellations.'

  • Al Furjan: Q2 2014 Review

     Jul 12 2014  Al Furjan Master Community  Villas  Nakheel

    Al Furjan villa prices declined by 5.9% and townhouse prices declined by 1.2% in Q2 2014.

    6 Bedroom Villas now have an average price of AED 6.0 - 6.3 million versus 6.4 - 6.5 million in Q1 2014.

    5 Bedroom Villas now have declined to AED 4.8 - 5.1 million when in Q1 2014, transaction prices were between AED 5.3 - 5.5 million.

    3 Bedroom Villa prices have also corrected slightly. Current transaction prices are between AED 4.0 - 4.1 million whereas the last quarter witnessed closings between AED 4.2 - 4.3 million.

    Both 5 & 6 bedrooms now have prices psf of 1,085 - 1,100 psf which is still extremely attractive when compared to almost any other villa community in Dubai. With Al Furjan, buyers are getting a brand new villa community with a high quality of construction - by most accounts, these villas and townhouses are some of the best quality ever delivered by Nakheel.

    There are a few reasons why prices have declined in the previous quarter.

    Firstly, the overall market across Dubai has slowed down and this has impacted Al Furjan as well. Occupancy rates are growing higher as units are rented out, therefore, there are less vacant units to sell in the market. A lot of buyer activity in this area has also shifted towards the plots, Dreamz by Danube and new apartment projects.

    Secondly, last year, Nakheel sold about 40 five and six bedroom villas to a group of investors on a two year payment plan. Many of those units were sold onwards, but the remaining units held by the investors has not sold out rapidly. With new payments coming in and the overall market slowing down - these investors have reduced their asking premiums, thus bringing down the overall average transaction price.

    Third, Al Furjan's much awaited new entry/access points have yet to be openend and this remainins a major drawback of living in this area with heavy traffic congestion during rush hours.

  • Al Furjan: Q1 2014 Review and Q2 2014 Outlook

     Feb 07 2014  Al Furjan Master Community  Villas  Nakheel

    Hardly any significant movement in terms of transactions or capital value appreciation. Rental values for all property types have moved up slightly.

    Occupancy rates in Al Furjan - which is relatively a newer community continues to grow steadily.

    Negative press reports about severe traffic congestion in the greater Furjan/Discovery Gardens/The Gardens area have raised concerns in the minds of end-users about buying in the community.

    Furjan however remains a very good buy. Furjan prices psf remain significantly lower than other communities. Furjan is a brand new community with good quality finish. The community has a strategic location - close to the new airport, close to Jebel Ali Industrial Area, limited number of properties, and improving accessibility means that Furjan is a real estate hot-spot with substantial room for capital appreciation.


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