londonguy28

Hi everyone can you help me. I'm looking to invest in media city in Dubai, just wanted to know if anyone knows about properties that can tell me if this will be a good buy.

The price quoted is 1650AED sq ft.

Also I wanted to know, I'm moving to Dubai and would like to bring some of my money too. I want to open a bank a/c before i get there. Which is the best way to deal with this.

Thanks

Blue Cat

as far as I am aware there are no opportunities to buy in Media City, do you mean the Marina? do you have a link for the property in question that you could post?

londonguy28

Sorry it's the IMPZ. Yes this is the site http://www.mediagatesdubai.com. What do you think? It will be for city scape.

Also is Ras Al Khaimah really that good?

Can someone help?

Eeyore

Depends what you mean by "good"

It's not Dubai, that's for sure. If Dubai is London, then RAK is... oh, I dunno... Leicester. Much quieter, less pressurised and cheaper, and probably the kind of place lots of people would actually prefer to live (we certainly would), but just too far away from the big city where all the actual work and leisure options are.

londonguy28

Would it be a good place to invest? I've heard that it's going to become a very hot property area.... is this the case you think?

Eeyore

Who can say for sure? It's got one hell of a long way to go to catch up with Dubai, and the those saying that's going to be a "hot property area" are probably those with a vested interest in getting people to think that if they invest now they're going to make the kinds of returns seen by those who invested in Dubai 4-5 years ago when off-plan property cost fourpence ha'penny and materials costs were a fraction of what they are now.

My gut feeling is that it's never going to be the "new Dubai", and it's just too far away from Dubai for it to be a viable place for a large commuter population - very few people willingly want to spend 90 minutes to two hours in the car to and from work each day (that's real-world rush-hour driving time, factoring in the congestion that exists around Dubai and Sharjah, and not the "45 minutes" usually quoted in RAK promotional bumph).

But hey, it's your money, and RAK could turn out to be bigger than Dubai

Madam Medusa

i don't think you can open a bank account unless you have a residency visa, but sure someone will correct me if i'm wrong...

MM, xx

Eeyore

Some (all?) banks will allow you to open an account if your residency is under process. You're just limited as to what banking services they'll extend to you until your residency is confirmed.

londonguy28

Thanks for that.... I think I'll stick with Media City in IMPC... I think

Blue Cat

it looks really nice, no prices on website, how much are the 2 beds - in dirhams please

londonguy28

I maybe wrong but what i have got is 1650AED sq ft. two bed is is 1235 sq ft that would make it 2,037,750 AED

Hope this helps

Blue Cat

thanks but for that price I would rather buy a resale on the Green Community

londonguy28

So it's not that much of a good buy? what's green city?

Autonomy

That makes it about 300K GBP = London prices....

Confucius

That is cheap...