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  NEWS AND EVENTS Property Ref:   

 Discount Values go Down for Nakheel Property Credit notes
 
25 Nov 2011
Values of Nakheel credit notes have gone down now that there looms a shortage of higher value notes at large discounts .
The trading in Nakheel credit notes as been frantic over the last 2 years as owners of cancelled projects issued with credit notes in lieu of funds the developer had received from buyers no cash option was given hence the lucrative trade for some in credit notes began.
Many recipients chose to just take the money and except that they had been burned with their Dubai real estate projects, With trading in those early periods owners could expect to obtain 50% of face value for their investment in projects like palm jebel ali and the waterfront all nakheel flagship developments that didnít materialise.
Traders in Credit notes estimate that between 50 to 70 % of credit notes have been used actual figures issued and cashed in have never been released by the developer, this means that the owners of notes who chose to hang on are now seeing notes trade at a 20 % discount as all the owners glad to cash in at lower prices are now sold leaving the hardy owners holding on and demanding higher prices.
Whilst many buyers still believe that 30 % plus can be obtained 20% is the reality that said any discount on payments which property owners have to make in truth is a bonus.
It is believed with the demand for notes with further payments coming up on Jumeirah park in forthcoming months demands will be even higher further straining prices and even in the new year maybe 15% discount is all thatís on the table..
Emirates property Shop for all your requirements with an extensive range of luxury penthouses and Villas anywhere in Dubai we have a wide range of Nakheel Credit Notes For sale also, so if you are looking to buy or rent Emirates property shop is the ideal place to source that ideal property for you

 
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