I was on the Property show over the weekend, and there was an interesting talk about "Why to invest in Dubai". After the talk my interest increased, and I went to the Jury's Hotel for the sales pitch.
Larionovo, parterning with Profile Marketing (www.profile.ae) claim to have 4 builindg ready to be sold in DSC (www.dubaisportscity.ae )- 2 overlooking the Stadiums and 2 more on the Golf course area.
Netherless to say this sounds an exciting investment, specilly since this is just in the border of the colossal investment that Dubailand () is.
Cutting a long story short, Larionovo seems to be a legitimate company (had my solicitor checking them with revenue etc in Ireland), and Profile Properties a registered company in Dubai, and doing business for DSC
The odd part come now: DSC comprises (@ least) 2 investment areas:
> an area where DSC will market and sell directly
> Private property, where the plans and permissions need to go thru DSC office to be approved - where the 4 Larionovo building are
At the moment DSC did not issued any sales permissions to ANYONE, and advise that a booking deposit SHOULD NOT BE DONE, since details on the plans can change. So this seems to be a way to have reservations before the buildings are released, and in that way booked them out straight away! - on the other hand if you do not submit the booking deposit, you will be out of the game! - of course Profile advises that if you do not feel confortable with it do ot pay, but of course you lose the opportunity!
To complicate even more, when I contacted DSC (by phone in Dubai), they mentioned that this are:
> an area where DSC will market and sell directly
Will be presented to the irish nmarket by......LARIONOVO!!! - so this seems to be a legitimate company, doing a legitimate business, but there is still risk on the sense that the buildings do not have permissions to sell. Finally Profile is also an authorized agent for the biggest developement companies in Dubai (mainly estate owned): Nakheel & Emaar!!
To me sounds like a legal scheme, with a legal outcome, but thru a bumpy road... - what are your thoughts?
Larionovo, parterning with Profile Marketing (www.profile.ae) claim to have 4 builindg ready to be sold in DSC (www.dubaisportscity.ae )- 2 overlooking the Stadiums and 2 more on the Golf course area.
Netherless to say this sounds an exciting investment, specilly since this is just in the border of the colossal investment that Dubailand () is.
Cutting a long story short, Larionovo seems to be a legitimate company (had my solicitor checking them with revenue etc in Ireland), and Profile Properties a registered company in Dubai, and doing business for DSC
The odd part come now: DSC comprises (@ least) 2 investment areas:
> an area where DSC will market and sell directly
> Private property, where the plans and permissions need to go thru DSC office to be approved - where the 4 Larionovo building are
At the moment DSC did not issued any sales permissions to ANYONE, and advise that a booking deposit SHOULD NOT BE DONE, since details on the plans can change. So this seems to be a way to have reservations before the buildings are released, and in that way booked them out straight away! - on the other hand if you do not submit the booking deposit, you will be out of the game! - of course Profile advises that if you do not feel confortable with it do ot pay, but of course you lose the opportunity!
To complicate even more, when I contacted DSC (by phone in Dubai), they mentioned that this are:
> an area where DSC will market and sell directly
Will be presented to the irish nmarket by......LARIONOVO!!! - so this seems to be a legitimate company, doing a legitimate business, but there is still risk on the sense that the buildings do not have permissions to sell. Finally Profile is also an authorized agent for the biggest developement companies in Dubai (mainly estate owned): Nakheel & Emaar!!
To me sounds like a legal scheme, with a legal outcome, but thru a bumpy road... - what are your thoughts?
