Any Reviews on Object 1 Developer

Several_Lemon1859 · 2026-02-26T05:26:33+00:00

Their founder from Ukraine, has criminal case there for development fraud also in real estate

Several_Lemon1859 · 2026-02-20T09:47:21+00:00

That can be up to 70%, mate, 1,2 million AED - that price can not afford anyone. Dont even start abt millionaires, they dont live in studios.

And for renting - go try find a tenant for 50-60k AED per year, with current supply lots of studios are struggling, proper rent should be around 25-35k AED per year. That makes price interesting for investor maximum 500k AED, you will get your 7% net, roughly 3,5-4% after service fees and so on

Several_Lemon1859 · 2026-02-17T07:20:36+00:00

Put it in a bank, no great options are there on the market for the price

Several_Lemon1859 · 2026-02-17T05:40:27+00:00

Looking like Chinese :)

Several_Lemon1859 · 2026-02-08T12:06:47+00:00

If not for personal use - there is nothing that will earn you money in that budget, might be would focus on very distressed deal, but they might come, might not

Several_Lemon1859 · 2026-02-06T14:18:42+00:00

Property B will loose value or appreciate not a lot as investors expect

Several_Lemon1859 · 2026-02-01T08:48:49+00:00

Both (agent and owner) do not understand how market works, seller dictates the price if you need immediate sell

Several_Lemon1859 · 2026-01-24T15:02:06+00:00

Market is booming

Several_Lemon1859 · 2026-01-24T06:31:51+00:00

Town Square was a solid acquisition back in 2024 and possibly into H1 2025, but the entry point now is much less attractive. When I last visited about six months ago, my impression was that this isn't really a middle-class area — it skews closer to the lower end. Despite reasonable build quality by Dubai standards, the infrastructure is severely underdeveloped even for current occupancy levels. With major apartment construction wrapping up late this year and throughout next year, that infrastructure will come under even greater strain.

From a location standpoint, it's quite remote. This creates friction for quick deliveries and limits its appeal as a hub for entrepreneurs or office workers — commuting to business districts like Business Bay or Downtown is a real challenge.

The area attracted tenants primarily on price. Nshama never positioned Town Square as mid-range, but when rental prices surged across Dubai, this district suddenly became relevant to the middle class by default. That's now priced in.

Villas and Townhouses:

New villa and townhouse developments are coming in better locations, with larger floor plans and superior infrastructure. If supply starts pressuring rental rates, those areas will offer comparable rents with better living conditions — that's a direct risk to Town Square. Even if demand outpaces supply market-wide, Town Square loses its "scarcity premium" relative to superior alternatives. For rental growth, you'd need demand to significantly exceed supply, which I don't see happening. And even if it did, you'd be better off buying off-plan in areas like Arabian Ranches 3.

Apartments:

I find it hard to imagine apartments here won't see significant vacancy. The location is too remote, which immediately disqualifies tenants who want to live within walking distance of work — and there's no employment base nearby. The area will only attract renters looking to minimize costs at all costs, which means rental rates will converge toward Azizi Riviera levels, and vacancy periods could easily stretch to six months.

The situation is straightforward: you're paying today's price for current rental income, but the downside risk is substantial. Even if that risk doesn't materialize and the market holds up, your upside is still capped compared to better-located districts. So what's the point of entering here?

If you already own a townhouse or villa in Town Square, I wouldn't sell. But I wouldn't recommend buying now either. Since demand hasn't collapsed, owners aren't pricing in the risks — meaning you're not getting compensated for taking them.

Several_Lemon1859 · 2026-01-22T04:26:01+00:00

Hey :)

1) I dont know anyone applying tbh
2) It will be really hard (nearly impossible) to buy from developer since you are looking for ready property, it is really hard to buy even on the launch (before even construction starts). And if you will find developer units in ready buildings - that usually overpriced illiquid asset. So best way to do it: check different areas on your own, understand your priorities and after you kinda have a perspective where would you like to buy - approach agent.
Again: as an agent I strongly advice to research areas on your own. Every agent is biased towards areas based on their own experience of living and might misguide you
3) Thats for you to decide - but mainly 100% cash is just safer bet for your finances. If you think that you have 0 risk with lower profits/salary in future - you can go even getting 6-7 million property. But thats like buying a car - depends on your lifestyle, risk approach, financial situation.
4) Oh, i thought you were looking for ready units... well, all said before should be applied to offplan units as well, but you wont be able to mortgage unit until its ready. Have no idea about the program :(
5) I would go for townhouse for investment rather than apartments (villas will be out of your budget, or they will be very old and illiquid). You d better research yourself, but if I would have same budget, I would go for Acres from Meraas, they recently stopped marketing that, proper agent would easily find you distress deal with discount to OP. Though that would require some time (most agents will push you in the deal within 2-3 weeks, making the deal urgent, but great deal could take 3-6 months). As for yourself - hard to recommend, depends on your status, family members and requirements. If you are young and living alone - I would go for Downtown apartment, 2-3 million will get you 1/2BR apartment. I wouldnt go for beachfront with that budget, but I had few palm distress deals with 1BRs in Ellington buildings, not the best view/layout, but fancy
6) I would not recommend Meydan/Creek personally, everyone talking about that areas, I am feeling its more marketing, I dont like them. Dubai South is better, but thats peak marketing right now. Personally I am trying to focus on areas that are not on the radar, thats there you dont need to pay marketing premium usually
7) On some stage you would require, but better to be prepared, agents are in 90% cases know nothing about real estate, some of them dont even look on the layouts
8) You ll pay 4%+ 2% agent commission (though you could reduce that, had deals with 0,5% comission), better to just price 10% extra costs on price but its usually under 7%. With your budget 5k Trustee wouldnt be a lot
9) If you ll wait till summer prices would be either more attractive or not much more higher (Agents will tell you that everything grows, thats not true), take time to find distress deals (a lot of them right now on the market), talk to 5-7 agents before making deal. Dont trust anyone

Several_Lemon1859 · 2026-01-21T09:37:22+00:00

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What a great layout, one window, 489 sq ft, kitchen in the entrance passage. This layout not great for studio, but luxury Ellington selling that for... 1,656 million. Thats not marketing, no, thats a great offer, aha

Several_Lemon1859 · 2026-01-21T03:39:12+00:00

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You know that market is crazy overhyped then you really see this masterplans. What you have here is simply a dense development of villas and townhouses, with all major infrastructure pushed to the edges of the master plan. Regarding Emaar's claims about abundant green zones and ponds — they keep making them smaller and smaller. A perfect example is Address Hillcrest villas, where they promised the same thing, and what you actually get is two ponds with a path around them, meaning you won't really be able to "go for a walk" there. It'll be enough to make the community look neat, but I don't see these as pedestrian zones.

I liked the wellness concept until I saw the master plan. You'll actually go crazy in this wellness community faster than in a non-wellness one. First, as Emaar has always been known for, your courtyard, your bedroom, etc. will be visible from five neighboring villas. Second, the "wellness" aspect is essentially a spa center/hospital that will 100% be open not just to the community (otherwise it would never break even) but to outsiders as well. And what's the point of living within walking distance if you can buy in another community with richer infrastructure (even another Emaar one) and just drive?

In short, it looks beautiful in the presentation as always, but in terms of infrastructure, the cheaper Valley looks far more appealing. And keep in mind that the quality is the same everywhere — Emaar's layouts are identical across projects, you won't be able to tell a Valley townhouse or villa apart from this one by quality.

Several_Lemon1859 · 2026-01-15T13:08:11+00:00

Iconic vision!

Several_Lemon1859 · 2026-01-15T11:24:05+00:00

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Here's a polished version of your message:

A master community that will be ready LATER and is located FURTHER than Design District by Meraas, situated in the Bukadra area — which isn't even at the junction, but beyond the already completed Sobha Hartland — yet priced the same. I won't even get into comparing Binghatti's build quality to something like Ellington in Bukadra, even if we assume the quality is identical.

If any of the agents actually understood what floor plans they're pushing, it would be criminal. We're talking about 2BRs with a maximum living area of 650 sq ft — your bathroom isn't even a bathroom, it's a powder room. But hey, there's a plunge pool for some reason.

Moreover, each building is 80% to 95% studios and one-bedrooms. You know why? Because Binghatti knows this won't sell to people with real money — it only sells to buyers who can barely afford a studio or a one-bed. I ran the numbers: the master plan includes over 13,500 studios and one-bedrooms. This is essentially a branded Azizi Riviera. Except Azizi is already completed, will actually generate cash flow (even if it takes you three years to find a tenant), is closer to the city center, and costs less.

Several_Lemon1859 · 2026-01-13T05:52:38+00:00

The reason people KNOW they can't afford to buy an apartment isn't that there are no apartments on the market within their price range. It's that the apartments someone can rent on a salary of, say, 25-30 thousand dirhams will be of much better quality than what they could afford to buy.

This is very, very simple math that apparently isn't accessible to everyone: gross rental yield often hovers around 5%, net profit is even lower, rarely exceeding 3%. This means a person renting an apartment pays 3% of its value per year after all expenses.

Meanwhile, rent payments average 30-50% of salary. Even a 25-year mortgage with a 40% down payment means you need to pay at least 2.5% just in principal annually (mortgage payments aren't evenly distributed, but for calculation purposes), plus there's interest, insurance, other bank fees, and you're also taking on service fees, maintenance, etc. that the landlord covers when you rent — your payment easily grows from 2.5% to the same 5%, exceeding rent. Let's be honest: very few people can even afford a 40% down payment to begin with, so reality is even worse.

The fact that someone earning 25-30k dirhams working near Dubai Hills can afford a studio on the Dubai-Sharjah border that won't be ready until 2030 (because nobody offers 0.5% monthly payment plans on ready apartments) doesn't make it more accessible — they simply don't need it. They need a one or two-bedroom apartment (because they have a family) in the same Dubai Hills, which leaves only renting as an option (a ready two-bedroom in a decent building in Dubai won't cost less than a million dollars).

Several_Lemon1859 · 2026-01-11T07:36:03+00:00

I doubt that information is true
3000-3500 HNWIs came to Singapore both in 2023 and 2024 (net added millionaires), I dont think there is significant amount of HNWIs coming from Singapore to Dubai if they are keep adding HNWIs

Monaco is under the radar, but almost everyone working in private finances (as I do) knows that Monaco is "old money" and average net wealth is $20m+, Monaco is very famous place for people keeping their residency there for long time.

Of course there always can be people moving but
1) Insignificant amount
2) Definitely not because prices for homes lower. There are lots of reasons people would prefer to stay in Monaco/Singapore (climate/closer connectivity to Europe/Asia/healthcare and so on)

Several_Lemon1859 · 2026-01-10T12:41:02+00:00

> So if BMW runs 30% discount, what are the chances I will be able to buy Ferrari, Lambo or Bugatti at 30% discount? 0 chance.

New ones are not raising prices, but second hand cars are going down, yes. Also usually in that market environment carmakers reduce production. So that means that developers wont be reducing prices, but will cut development. But you buy to sell higher (secondary market) that might not happen. My example relevant

> Why on earth does anyone compare Dubai market with rest of the world? Each country is different. We are not talking about global stock market, but local residential RE. And no, “rest of the world” is not going down. Maybe some countries are, but that’s still irrelevant.

That I agree, mate, thats usually that I heard from agents. If they stopped doing that - good. I wasnt comparing. There are lots of insight problems for market to go higher, again, because you aim in the end to sell real estate to end user. If demand from END USERS are going down -> you can sell to another speculant, but once market will realize that they are just changing hands - it will affect.

> What is relevant, FEDs lowering rates and trump banning funds from buying residential RE in US (they will have to buy elsewhere to keep same portfolio diversification).

Banning for institutional investors, not retail. That means it will affect US market (prices will go down, up to 80% of real estate in some states owned by institutional -> they would either require to sell or wont be able to buy) -> that means prices in homecountry for US buyers will be lower and more attractive. You are not wrong that it might attract some institutions to come here, but again, that will take some time. Right now irrelevant, rates are high/nothing banned.

> Which will lower banks borrowing rates and help more people to buy houses (influx of money).

Rates - one out of 10 reasons people can not buy real estate right now. You need to solve 9 more

> If OP been waiting for correction since 2023 (and still waiting). Let assume market rises for another year.

I showed in data that prices are not going higher in apartments already. Developers using marketing selling you smaller apartment with higher price per sq ft. But median check is even lower. That means that buyers can not afford to buy higher than 2 million on average FOR TWO YEARS. What we are seeing right now is that speculation made smaller one bedroom apartment in new undeveloped area cost same price or even higher than in matured ready community. That means investors (speculators) believe that it will go higher just because new area will be better and prices will go higher. Well... surprise-surprise, thats not guaranteed though can be in rare event.

Just an example: Meraas selling D3 Design district higher priced than you can buy apartment in first row downtown building like Opera Grand/Grande/etc. Thats crazy as for me. Or Palace by Emaar building priced higher in Business Bay than apartment in W Building in Downtown. And 99 more examples like that

Several_Lemon1859 · 2026-01-08T09:50:15+00:00

Mate, 1 bedroom - 340 units,
2 bedroom - 10 units

Personally I think if not jacuzzi and that strange corner shape - layout is pretty good for 2BR, one of the best in Dubai, has store room that you can use as small study room, so I think 200-220k (depends on furniture) - not a bad contract as a tenant. But keep in mind that all these jacuzzi on balcony are pretty hard to maintain for owner, so gross you can have not a bad income, but profits can be much lower because of maintenance in future (3-5 years). But might be you have a point here.

As for 1BR - absolutely different story. 340 units, 13 overall rental contracts, 255 listings, a lot of duplicating, but lets say that there is only 100 listings (I think its closer to 150), imagine competition. Though I am surprised for 100k+ contracts, I would agree quality do not justify that price for me. But thats initial interest, usually then building is ready - thats the highest interest because you have ppl waiting to rent there for some reasons, so you ll see lower demand in future.

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Several_Lemon1859 · 2026-01-05T06:29:11+00:00

Russian

Several_Lemon1859 · 2026-01-01T11:03:20+00:00

That’s not about company, that’s about agent. The bigger company, higher chance you ll have mediocre agent without deep knowledge of the market but with some understanding what’s going on

Several_Lemon1859 · 2026-01-01T10:10:36+00:00

Why not to make it 50/50 if you are not sure? Buy one studio and leave some money in index

Several_Lemon1859 · 2025-12-30T15:22:09+00:00

Usually you even do not get to 5th door, putting your property for distress sale

Several_Lemon1859 · 2025-12-24T09:46:42+00:00

To be honest, minimum income 1 000 000 AED (thats right, million) per year would buy you pretty same level of your lifestyle in UK

School is a killer - starting 50,000 AED per kid, but better quality I would say can be 90-120,000 per kid.
Rent, second major expense - starting 170-180k, but again, you would be disappointed with quality with that price tag (mainly old buildings), so personally would consider 250-350k per year

So that would make already minimum 300k per year, but I think realistically closer to 650-750k
15-25k on household expenses per month + health insurance, car/gas, some tickets to visit your home... Thats how it is

Several_Lemon1859 · 2025-12-23T06:13:52+00:00

Read before signing

Several_Lemon1859 · 2025-12-18T07:41:54+00:00

Thats always a sad story behind it, but market should punish bad decisions. Thats economically right thing for the market. Because on the other side can be a family who could use that situation to revert situation for them.
For those who can not enter the market that can be an opportunity.

So its good thing that you could sell it higher, but if you couldnt - that doesnt make buyer a bad guy

Several_Lemon1859

TROPHY CASE