DUBAI BERTHS IN HIGH DEMAND
Wednesday, 17 Sep 2008
The slowing down of the economy worldwide has caused problems for many, but one developer for luxury marine properties in Dubai is determined to make a difference. The developer has decided to create an auction online whereby luxury accommodations in Dubai, such as the Anchor Marina berths on Palm Jumeriah, will be auctioned off to the highest bidder.
Island Global Yachting is confident that it can convince many of the largest spenders in the world to fork out amounts of up to Dh600,000 (the equivalent of $163,000) for a marina property in Dubai, and the company’s chief executive, Michael Horrigan, is hopeful that the auction will draw the same amount of attention and telephonic bids that ensured that a number plate sold for $15 million earlier in 2008 in Abu Dhabi.
Horrigan says that the company is aware that there will be a high demand for the Dubai properties in Anchor Marina, and further says, “We decided to explore new ways of leasing its berths to ensure a level playing field for interested parties – and the idea of an online auction site developed. We are anticipating a huge demand for the berths and this has been considered the most transparent and fair way of launching the first tier of leases.”
Island Global Yachting would not disclose whether or not it had a reserved berth price, nor would it reveal how much money was anticipated to be made from the online auction. However, the starting prices for each berth property in Dubai will depend largely on the size of the property. The prices are anticipated to be more pricy than properties in the Dubai Marina, however, because there are no more available berths there and the waiting period for a berth to become available is over a year.
Your Tools
Email these details to a friend
Similar News
-
Enticing funding plans offered by Dubai developers to lure investors
Thursday, 20 Nov 2008 -
Citigroup says property in Dubai won’t collapse
Wednesday, 19 Nov 2008 -
Bargains for buyers of property in Dubai
Tuesday, 18 Nov 2008 -
Economic crisis smashes Dubai property boom
Friday, 14 Nov 2008 -
Prices of Burj Dubai tower property plummet
Wednesday, 12 Nov 2008 -
Phase three of Axis Residences Dubai Silicon Oasis launched
Tuesday, 11 Nov 2008
Similar Properties
-
Business Place
, The Lagoons
Prices from € 0 -
Commercial Bay
, The Lagoons
Prices from € 0 -
Flamingo Cove
, Jumeirah Village
Prices from € 0 -
Flamingo Heights
, Jumeirah Village
Prices from € 0 -
The Concourse
, Jumeirah Village
Prices from € 0 -
The Crescent
, IMPZ
Prices from AED 709,000
Need Advice?
We at Property Select offer impartial advice on buying property overseas, contact us for more information.
We offer help booking investment trips and viewings of property, contact us today.
