12 August 2007

Abraj Al-Lulu

I'm considering buying an apartment here; anybody have any advice, suggestions, comments? 2 bedroom apartments go for a little under BHD100,000. They should be ready by sometime next year. Seems Bahrain is moving into the whole "buying concepts" issue; you buy something before it's ready and you have no idea if it's going to turn out good or otherwise. Riffa Views has been snapped up by more than 50%, Amwaj, Marina West, etc.. Sigh.

19 comments:

Seroo said...

Nope, no advice, but looking to buy myself so if you'd like to lend me some property hunting tips, 'much appreciated

=)

SILVER said...

i like Marina west, easy access to the highway, 3 minutes from Saudi caseway (easy to rent), private beach, hotel, marina, proper gym.
2 bed room i checked was for 78k
but ran out of cash.
One advice is check the yearly fees you have to pay.

Nahed said...

Hello there,

After my exhausting search for an apartment I landed in Amwaj. Tala Island is a good choice, if you're looking for a reasonably priced property. Dont go for Abraj Al lulu for one reason. They are building on slow stages. In other words, whenever the cash comes in from a new investor. Thats scary. Expected finish date for Lulu is March 08.. I doubt :S

Ammar456 said...

Thanks guys. im actually buying it for investment, not to live in, so my goals are a bit different. but thanks!

Capt. Arab said...

If you got 100K to invest, try the currency market. You could make a quick fortune if you time it right. I have a piece of land, which I can't afford to build. I bought it for almost 10K in 1998, and today it's worth around 40K. Problem is... If I sell what can I buy?

MSB said...

Why pay that much for an apartment when you can get a house for almost that price? Try "Saar Gate".. it's close to Rally Town.. Let me know if you need more details.

Ammar456 said...

Capt. I know the forex market; i'm actually a dealer. I also know that if I wanted my basic capital guaranteed (to an extent), I wouldn't go into forex. You have the chance to make a lot, but you also have the chance to lose a lot. There are stop losses here and there, but still, i'm looking for real estate right now.

MSB; it's not for me to live in. It's an investment, and i'm considering the return on my investment in a few years, should probably be better than if I invested in Saar Gate. It's not about whether it is a house, apartment, piece of land, etc. But thanks for the advice! Maybe if I wanted to buy a place to live in.

MSB said...

i'm not talking about a place to live in either.. i'm thinking of how easy it would be to resell an apt vs reselling a house.. the location of the house is close to the causeway with easy access in both directions.. and the property value in that area is going up pretty fast.. just food for thought.

Ammar456 said...

True; it is hard to predict which properties will go up, and by how much VS others, i'm still doing my research though. I'm definately looking at the whole Saar Gate thing as well though, as well as Amwaj, Marina West, regular properties, some sort of land purchase, and so on.

Sami said...

could be an ill fainted piece of advice.. but, land around the Magaba area (just behind saraya) or malkeya, is fairly cheap!fairly cheap when compared to the skyrocketing/noreasoning (is that even a word?) prices of land and property. the foot is around 8-9bd, so.. it would definatly be within budget! look around.. everywhere thats anywhere is around 14 minimum!

Ammar456 said...

Sami; appreciate the info. Truth is, although those areas are still very reasonably priced, i'm not sure if their potential for growth is superior to others. My main concern here is return on investment. I might buy a lot of land in maqaba for the same price as a piece of land in amwaj for example, but i'm expecting increasing demand on the amwaj property, and therefore a higher return (wierd, considering we have increasing supply and still the demand goes up). But thanks for the tip!

lebinbah said...

I am no expert in real estate especially in Bahraini real estate so excuse me if i am way off the mark here. But personally if i had that much money i would try to divide it and get several smaller propoerties in residential areas where tenants are easy to come by (Manama/Juffier/Um al Hussum) and the price of real estate is cheap which in my opinion would present a shorter time to get your ROI than having one property in one of those locations mentioned before. The real estate market in Bahrain is booming but from what i see (and i can be 100% wrong here) i don't see how all those projects are going to be occupied with tenants, there simply isn't that much people here that can afford that much.... being Bahraini or Expat.

Ammar456 said...

your assumptions are mostly on point; however, the driving force behind the rising prices currently isnt demand by people who are actually looking for a residence; its actually fueled by investors who buy a property, sell it with profit to another investor, who sells it to another investor. Very few people (comparatively) actually purchase it for their own use. So right now, most of the investor demand is on these properties, fueling their prices. You have a good point with spreading the amount over different properties (and along with it, the risk). Thanks.

realestateman said...

Magaba is a best bet since it is next to starbucks and budaya Road. It seems that this area will turn into resturant area.

Anonymous said...

What is Saar Gate and how can I get info on them. BTW, if you are looking for large properties, there is www.real-gardens.com we passed by it and it looks like it's going to be beautiful.

Does anyone have info on Saar Gate and Marina West?
samahgirl@yahoo.ca

Anonymous said...

hi, i'm in invester.. and I suggest to go for abraj al lulu. Remember the first 3 rules of real estate?? location, location and location.. and besides the reputation of the developer and the contractor is great. Plus dadabhai name is attached to the project. they have been in the business for the late 20 years. their reputation is great in bahrain.. they believe in quality and value for money.. so my advice is to go for it. plus their prices are still cheap campare to other projects coming up in seef right now.. i've just been to their office recently for the payment of my apartment, and they have some good new projects coming up too..

Anonymous said...

ABraj Lulu recently announced delays to completion of the Gold Tower from Aug 2008 to December 2008. They have made NO MENTION of any compensation or reduction in payments !

Surely they should offer some compensation to their many buyers?

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Cash for House said...

Amwaj is the best place to have a own home..BHD100,000 is fair without any hesitation..