Sweet Homes Maintains Current Prices -- What a scam!
Sweet Homes Maintains Current Prices
Publish Date: 2009-05-19 01:00:16 Story Code: 15310
AJMAN - Sweet Homes Holding, a real estate developer, is maintaining the prices of its property units despite the current slowdown of the global economy, its CEO Fahad Sattar Dero said.
Currently selling at Dh600 per square feet for apartments in Ajman Uptown, the company is taking all necessary measures to ensure delivery of its projects on time to leverage the projected recovery of the market and the UAE economy as a whole.
“Maintaining the current prices of our property offerings is a strategy we deemed appropriate amidst current market developments, which indicate that recovery from the current crisis is at hand,” said Fahad.
“We are aware that the market slump has made investors more demanding than ever before, and this drives us to intensify our efforts to ensure that our clients will gain significant returns on their investments, as evident in our recent agreement with Dubai Islamic Bank for the escrow accounts of both our projects.”
The developer also revealed that it is seeing unprecedented progress in ‘Rainbow Towers’, which is on track for completion by 2010.
��������� aneela@khaleejtimes.com
makes sense
ofcourse your not lowering your prices, because there are no new buyers and you know it!
in the alternative it may
in the alternative it may well be an approach to strengthen the market by placing a benchmark holding against negativity.
even prior to the global crash there were some sellers undercutting.
more so now, which cannot be sustained.
sweethomes position is good in my view. it places a realistic threshold and benchmark for solid developers, inviting serious investors to make investment (in ajman if they wish to do so) on a development with some reliability.
thus developers like sweethomes chapal stargiga at the pivot have this added responsbility to give confidence and strength to the market.
confidence? get to building
you dont build confidence in ajman market by sticking to 500 and 600 AED/ sqft.
you do that by start building, finish the building on time, keep your promises to your investors, dont lie, dont blow them off, dont change the contracts on the fly, dont give agressive payment paln while your not building squat like in the case of 80% of the developers.
this is what makes the confidence, not some article in media published by some aneel dude who never wrote anything realistic about ajman. The writter is on the take, and this is common in the industry, no problem. But as an investor who got lied to already, its my ethical obligation to speak out against such lies and marketing statements.
confidence is gained by action, not by words.
Can everyone just calm down
Can everyone just calm down and look to the future. I am sure we will all come out bigger and better at the end of the economic crisis.
This time next year...
not really
I dont know about you, but you sound like you can afford sitting around while someone else makes interest on your money.
I can't, so are many people here, few options exist:
1- build and deliver per schedule with no delays
2- return the money with interest to investors
3- jail for developers
thats just my humble opinion.
FAHAD SATTAR
I want to meet several times to meet this MD of SH, but very cleverly he avoids. Why he doesn't tell about Paradise lake which is SH first project could be delayed by un limited time. He is not saying if delayed more than one year what would be compansation for investors. Dude Aneel shoul speak on that matters.
Paradise Lakes
As far as I am aware, Paradise lakes is only marketed by Sweet Homes. They actually are only solely responsible for Ajman Uptown and Rainbow Towers along with one in Dubai.