16/July/2010

Park Towers

http://i25.tinypic.com/2vxqcsl.jpg

http://i30.tinypic.com/35mmdjm.jpg

http://i29.tinypic.com/hvuzxf.jpg

http://i31.tinypic.com/zx8k0m.jpg

http://i27.tinypic.com/14t6ltt.jpg

http://i29.tinypic.com/2le4hs8.jpg

http://i26.tinypic.com/34hhzsl.jpg

http://i32.tinypic.com/2na7jlx.jpg

http://i31.tinypic.com/256e4bs.jpg

http://i28.tinypic.com/2utmamw.jpg

the cladding on the podium areas has turned out ugly and cheap, I would have expected more than that.

Park Tower investor says thanks a million for taking the time to snap such great pics and posting them.
:cheers:

guys...do you really think this project is worth more than the one surrounding projects? how much to you reckon it costs?

14 Aug 2010

http://img199.imageshack.us/img199/6923/dsc0021oyx.jpg (http://img199.imageshack.us/my.php?image=dsc0021oyx.jpg)

They have added steel structures on top that complete the design and hide the BMU from view. Actually on the 2 weeks old picture above, you can see work starting on the tower on the right.

so what about the height now? is it possible it reached 200 meter?
Well the top part has added some height for sure!

so what about the height now? is it possible it reached 200 meter?
Well the top part has added some height for sure!

yeah, they are most likely skyscrapers if they will receive their spires...
may reach at least 210m IMO...

Hey all co-owners or interestees,

Think they are preparing to dismantle soon the towercrane on tower A. The are stripping the manhoist, and start closing the facade which was hold back due to the access openings. That leaves us with the panels on the dome and the spire as main items for the crane!!! Then i guess it will be crane-dismantling time!!!
Tower B has it's dome erected. Then I think the hoist will go!
It is start taking final shape.

I hear that comissioning is for the first quarter of 2011!?!! Anybody can confirm?

I also noticed that the Indextower has finally been handed over!?!! That is a year later then their anticipated date!!!

Is the end of the tunnel insight???

^^ Was The Index really handed over? How come there was nothing in the forums?!

Hey all co-owners or interestees,

Think they are preparing to dismantle soon the towercrane on tower A. The are stripping the manhoist, and start closing the facade which was hold back due to the access openings. That leaves us with the panels on the dome and the spire as main items for the crane!!! Then i guess it will be crane-dismantling time!!!
Tower B has it's dome erected. Then I think the hoist will go!
It is start taking final shape.

I hear that comissioning is for the first quarter of 2011!?!! Anybody can confirm?

I also noticed that the Indextower has finally been handed over!?!! That is a year later then their anticipated date!!!

Is the end of the tunnel insight???


Thanks Knarfekke. Do you have any pictures to upload of the current situation?

Hey all co-owners or interestees,

Think they are preparing to dismantle soon the towercrane on tower A. The are stripping the manhoist, and start closing the facade which was hold back due to the access openings. That leaves us with the panels on the dome and the spire as main items for the crane!!! Then i guess it will be crane-dismantling time!!!
Tower B has it's dome erected. Then I think the hoist will go!
It is start taking final shape.

I hear that comissioning is for the first quarter of 2011!?!! Anybody can confirm?

I also noticed that the Indextower has finally been handed over!?!! That is a year later then their anticipated date!!!

Is the end of the tunnel insight???

^^
Index hasn't been handed over yet - snag visits are ongoing. There is no firm indication of handover date from Union Properties but it seems imminent.

http://i53.tinypic.com/24vuxd2.jpg

^^ What about Index tower updates ;)

Any updates?

Pics from november 10th

http://farm5.static.flickr.com/4085/5214705633_b6c8dba90c_z.jpg (http://www.flickr.com/photos/stewie1980/5214705633/)
Dubai, Park Towers (http://www.flickr.com/photos/stewie1980/5214705633/) by Stewie1980 (http://www.flickr.com/people/stewie1980/), on Flickr

http://farm6.static.flickr.com/5005/5214219254_ea34a8c06e_z.jpg (http://www.flickr.com/photos/stewie1980/5214219254/)
Dubai International Finance Centre (http://www.flickr.com/photos/stewie1980/5214219254/) by Stewie1980 (http://www.flickr.com/people/stewie1980/), on Flickr

http://farm6.static.flickr.com/5043/5213628151_d31cd12bae_z.jpg (http://www.flickr.com/photos/stewie1980/5213628151/)
Dubai, Road 312 (http://www.flickr.com/photos/stewie1980/5213628151/) by Stewie1980 (http://www.flickr.com/people/stewie1980/), on Flickr

http://farm6.static.flickr.com/5247/5213975113_51942caecb_z.jpg (http://www.flickr.com/photos/stewie1980/5213975113/)
Dubai, Road 312 (http://www.flickr.com/photos/stewie1980/5213975113/) by Stewie1980 (http://www.flickr.com/people/stewie1980/), on Flickr

http://farm6.static.flickr.com/5084/5213972783_b1974113ff_z.jpg (http://www.flickr.com/photos/stewie1980/5213972783/)
Dubai, Road 312 (http://www.flickr.com/photos/stewie1980/5213972783/) by Stewie1980 (http://www.flickr.com/people/stewie1980/), on Flickr

Nice to see that the Glass has started on the Steel at the Top. :)

wtf parking garage with a podium on top of it, gross

wtf parking garage with a podium on top of it, gross

I think DIFC is elevated so the podium of the development is actually at a perfect height to be linked to it. I think it's the same for Dubai Islamic Bank, The Index, Emirates Financial Towers, Ritz Carlton & Limestone House, Currency house and Liberty house.

^^ Yes, everything will be linked together with some sort of boulevard.
On my second photo in post #516 you can see that all those buildings are elevated on a podium. I myself was standing at DIFC, about 50 meters behind The Gate.

Hi all....I was in DIFC today to register a commercial unit and enquired
about the 20% charge applied to owners leasing out their properties.
I was told this only applies to certain buildings and PT falls outside of
this......
Each management company sets its own rules.....now this was the retail
management of DIFC who said this.
After several more meetings with real estate brokers I was assured a 20% charge
does apply and all commercial leasing must go through DIFC......go figure !

Anyway, I will go back there tomorrow to find out for sure and keep all interested parties up to date !

28/January/2011

Park Towers

http://i51.tinypic.com/2r3v49f.jpg

http://i52.tinypic.com/15gte8k.jpg

http://i55.tinypic.com/331164z.jpg

http://i55.tinypic.com/5oavb6.jpg

The glass is very dirty, should look great once finished and cleaned. ^^

The buildings fassade is fantastic, but the podium cladding is awefully fugly.

The buildings fassade is fantastic, but the podium cladding is awefully fugly.

I agree :bash:

gents...this is soon to be delivered. Does anyone have any idea about how this can go for rent? I have a 1 bed at the top floor.

DIFC is a prime location and rent will be always high. But fur to financial situation it will take some time till we get to see the real value of those rents. Maybe a couple of years

DIFC is a prime location and rent will be always high. But fur to financial situation it will take some time till we get to see the real value of those rents. Maybe a couple of years

Yes it will take some time, but it will get back to where it was. :cheers:

From The National:
DIFC Courts back couple over delay to luxury flat

An Irish couple have won a Dh1.7 million (US$462,850) refund on an apartment they bought in 2004 after a unit of Damac Properties failed to finish it on time.

The case could become a precedent for buyers in buildings in the Dubai International Financial Centre (DIFC) free zone, which is regulated by a different set of laws than the rest of the emirate.

The judgment stands out as a rare outcome amid thousands of protracted lawsuits and disputes that have arisen after the onset of a property recession in the region, especially in Dubai. Many cases have been filed, but are mired in lengthy proceedings.

Noel and Lorna Gaffney won a "default judgment" on their case in the DIFC Courts after Damac Park Towers Company did not respond to their lawsuit, according to documents made available yesterday.

Mark Beer, the registrar of the DIFC Courts, signed an order on March 31 requiring the refund of Dh1,781,009.01 to the couple within two weeks. Any delay to the payment would require the company to pay additional interest on the amount.

"The implication is that Damac will have to pay an investor back after delays, which will set a precedent for investors who have not received a property on time," said Kaashif Basit, a partner at the law firm KBH Kaanuun who filed the case on behalf of the Gaffneys.

Mr Basit said of Damac's lack of response to the lawsuit: "Normally people don't defend cases when they don't have an answer."

Niall McLoughlin, a spokesman for Damac Properties, said: "Litigation is a component of all businesses in today's corporate environment and it would be inappropriate for us to comment publicly on individual cases."

Damac Park Towers could counter the judgment, but would have to prove that it was not appropriately served with court documents or there was a strong reason why the judgment should be waived, according to DIFC laws.

Mr and Mrs Gaffney bought apartment 602 in Tower B of Park Towers in December 2004, according to documents filed by the couple.

The project is made up of two 49-storey buildings with curved glass facades. It is located about 10 minutes' walking distance from the DIFC Gate Building.

Construction is nearly complete and they are expected to be delivered this year, according to a recent press release from Damac.

The Gaffneys said they were originally told delivery would be no later than "early 2008". In 2006, the completion date was pushed back to June 2009, the couple said.

Over the six years since they signed a contract, they kept up payments and paid a total of 90 per cent of the purchase price of Dh1,967,000. The final 10 per cent was due on handover of the unit.

"With hindsight I would never have entered into an agreement to purchase a property from Damac if I had known that seven years on, my property was still to be delivered," Mr Gaffney said in a statement provided by his lawyers. "I feel I have been given false promises by their sales department and I know I am not alone in that regard. I am pleased to be able to get justice through the DIFC Courts."

The Gaffneys served a written notice last September on Damac Park Towers that it had breached the contract. They wrote again in October, notifying the company that the contract was terminated. They then filed a lawsuit in the DIFC Courts in January seeking a refund, as well as interest and other costs.

Several individuals and groups of buyers have increasingly tried to use the DIFC Courts as an alternative jurisdiction to hear their cases because hearings are held in English and cases are perceived to move more quickly.

^^
What are a few more months wait compared to 7 years since the first put a deposit down. I bet the Gaffneys are regretting it. Their apartment must be near enough ready.

22/April/2011

Park Towers

http://i55.tinypic.com/fkpb45.jpg

http://i56.tinypic.com/2lbnkg1.jpg

http://i56.tinypic.com/neba6a.jpg

http://i54.tinypic.com/2dl1zrt.jpg

So can someone provide info on the purpose of the podium levels? It seems 1-3 are parking, but what about those floors in thee smaller part of the podium? Are there 4 more levels before the towers start? Could someone clear that up for me?

by Gerhard Hope on May 16, 2011

If you've spent any time in London, you may think that you're seeing double. The Sir Norman Foster designed Gherkin, or St Mary's Axe has drawn a lot of attention in the seven years since its 2004 opening.

Dubai's twin Park Towers stand 49-storeys high, are fully glazed, and are reminiscent of London’s iconic Gherkin tower, except – in true Dubai style – here there are two of them side by side.

http://www.constructionweekonline.com/article-12328-site-visit-dubais-double-gherkin/

http://img847.imageshack.us/img847/913/pt1z.jpg (http://imageshack.us/photo/my-images/847/pt1z.jpg/)
http://img714.imageshack.us/img714/5021/pt2f.jpg (http://imageshack.us/photo/my-images/714/pt2f.jpg/)

http://img847.imageshack.us/img847/913/pt1z.jpg (http://imageshack.us/photo/my-images/847/pt1z.jpg/)

Never ever have I seen this development from this angle! Great shot, thanks for sharing! The towers look stuning!

from today:

http://i54.tinypic.com/2qt8j7q.jpg

http://i53.tinypic.com/343m883.jpg

the podium still has some covered panels..

http://i55.tinypic.com/o89b8h.jpg

R

^^ the DIFC's two giant slugs :tongue2:

Asa Fitch | June 27, 2011

An Irish couple has won a Dh1.8 million payout from Damac Properties after the developer failed to finish their apartment on time.

The Dubai International Financial Centre (DIFC) Courts have affirmed an earlier decision to issue the couple a refund in a ruling that could have implications for other property companies within the DIFC, the financial free zone where the courts have jurisdiction.

http://www.thenational.ae/news/uae-news/courts/damac-properties-must-pay-dh1-8m-after-failing-to-finish-apartment

by Gavin Davids on Jul 12, 2011

Damac Properties announced on Tuesday that it had received the completion certificate for the Park Towers development in the Dubai International Finance Centre.

The elliptical twin tower development was designed by San Francisco based firm Gensler. The firm was also responsible for the DIFC ‘Gate Building’.

“Park Towers makes a striking addition to the architecturally impressive landscape of the DIFC. The completion certificate is the first step in the handover process. While we are still finalising the landscaping and interiors, we expect to deliver the building shortly,” Naill McLoughlin, senior vice-president of Damac Properties said.

http://www.constructionweekonline.com/article-13178-damac-gets-completion-certificate-for-difc-towers/

http://www.constructionweekonline.com/article-13178-damac-gets-completion-certificate-for-difc-towers/

How did they get it? Still not ready!

15/July/2011

Park Towers

http://i55.tinypic.com/10ngknk.jpg

http://i52.tinypic.com/1zm0ayu.jpg

http://i56.tinypic.com/21osgwg.jpg

http://i53.tinypic.com/53vc6f.jpg

http://i55.tinypic.com/tasrax.jpg

any news here ? how is the inside doing ?

I have seen a big advert in the Gulfnews, Damac says its done but as I saw today still cladding panels missing...

They are selling studios from 550-600K now.

useful information on Park towers DIFC.

http://parktowersdifc.com (http://parktowersdifc.com/)

:cheers:

from last week:

http://i40.tinypic.com/103bvo4.jpg

R

Intead of spelling out the developer's name, why have they not put up the name of the development on the front? :lol:

I have seen a big advert in the Gulfnews, Damac says its done but as I saw today still cladding panels missing...

They are selling studios from 550-600K now.

That sounds interesting.

DONE

http://www.damacproperties.com/thumbs/Default_Web/292x289//uploaded-files/Property/Images/59/img1.jpg

http://www.damacproperties.com/plot-development/UAE/Dubai/DIFC/Park-Towers/overview/59.xhtml?p=12

^^

I don't think so as upper units have not been fitted out as yet.

http://parktowersdifc.com (http://parktowersdifc.com/)

I heard from DAMAC that handover will be within 6 to 8 weeks

That sounds interesting.

Yes, I saw the floor plan, there are no studios , only 1, 2 and 3 beds:)

Also I think the advert was tricky, starting price was 5-600K but it was for the down payment only..

I only believe that the building is going to be handed over when they will start cleaning the windows... a handover happens with clean windows... and I expect it to take rather a lot of time to clean them! :D

So my eye is looking for cleaned towers... then I will believe!!!

Cheers!

http://i39.tinypic.com/160btb8.jpg

It is happening... Abseilers on the towers...

The END is NEAR!
:D :D :D :D :D

I only believe that the building is going to be handed over when they will start cleaning the windows... a handover happens with clean windows... and I expect it to take rather a lot of time to clean them! :D

So my eye is looking for cleaned towers... then I will believe!!!

Cheers!

:banana:

Handover commences from 15th Jan 2012. Read further instructions

http://parktowersdifc.com/

:cheers:

HappyLarry, time to be happy, the wonder is in the making, DAMAC will finish and handover!

I am receiving my handoverdocuments normally today! got a call from DAMAC, and their courier.

Greets!

HappyLarry, time to be happy, the wonder is in the making, DAMAC will finish and handover!

I am receiving my handoverdocuments normally today! got a call from DAMAC, and their courier.

Greets!

Thanks

See PM :banana:

by Duncan Hare on Dec 27, 2011

Park Towers in the Dubai International Financial Centre has scooped the title of ‘World’s Best’ in the ‘Best Mixed-Use Development’ category at the prestigious International Property Awards in London.

The Park Towers development was propelled to the International Property Awards after landing five honours at the Arabian Property Awards last month.

“These awards are validation from our industry peers that our strategic approach to sustainable development has been the right course of action in a challenging market,” said Niall McLoughlin, senior VP of Damac Properties.

http://www.constructionweekonline.com/article-15123-damacs-dubai-park-towers-voted-worlds-best/

^^
Let's hope inside is also really good. Handover is next month.
http://parktowersdifc.com (http://parktowersdifc.com/)
:cheers:

Hi, has any got any issue with the level of penalties from Damac, I have received over 10% worth penalties against less than 0.1% of compensation, Damac have had my money since August 2004 and yes they have been some cases where we were late with instalments but this was due to the fact they asked for 3 lots of instalments within a couple of each other, in short they have had my money much longer then I have had delayed with payments...I am interested to know if there is anyone who is in the same situation and would like to team up to join forces, either to pressure Damac to remove penalties or take them to DIFC courts, thanks.

01/01/2012
it looks fabulous!
http://farm8.staticflickr.com/7145/6618379999_48dc1da4d7_b.jpg
Source: http://www.flickr.com/photos/juxtasphotography/6618379999/

^^ Thanks

Looks great.

A little off topic but from this angle are those hands on the clock at the AL YAQUOB TOWER ?

Looking great and exactly like the render. Any pics from inside?

Just take a look at the latest pictures of interiors and pool area. Simply...WOW!

http://parktowersdifc.com (http://parktowersdifc.com/)

Looks really good.

Justcollected keys for my unit in Tower 1. Smooth delivery process.
Reasonably pleased.
Car park spaces is still yet to be allocated.
Retail area is still awaiting shops etc. Still early days.
Impressed with the facilities available but a bit disappointed on the workmenship in MY unit. It was not Damac style I had in mind.
Although a snagging list was handed over to official in charge but floor and
wall tiles were chipped and quality is was very basic.

I can understand that Damac must have been let down by their developer's quality control team.

Perhapes I was impressed by the shear size of the project and the work involved. Beautiful swimming pool area with all the trimmings etc etc.
It just that little detail to the wokmenship was needed which could have made it a perfect job.
Still a lot better than many of the projects I have come across,

Hi All,

I thought some of you may be interested but we are offering Free Snagging Services for all landlords who register their property for Property Management with us in Park Towers, DIFC.

If anyone would be interested please feel free to Private Message me on this Forum.

Thanks,
Shazz

Are any of you hit with 'late fees' on the payments?
They never told us anything but now are asking for a few thousand AED in late charges.

^^ Agreed, never told us (pain in the neck) but you may find it in the Sales purchase contract.

Hi All,

I thought some of you may be interested but we are offering Free Snagging Services for all landlords who register their property for Property Management with us in Park Towers, DIFC.

If anyone would be interested please feel free to Private Message me on this Forum.

Thanks,
Shazz

Check your PM

Hi, has any got any issue with the level of penalties from Damac, I have received over 10% worth penalties against less than 0.1% of compensation, Damac have had my money since August 2004 and yes they have been some cases where we were late with instalments but this was due to the fact they asked for 3 lots of instalments within a couple of each other, in short they have had my money much longer then I have had delayed with payments...I am interested to know if there is anyone who is in the same situation and would like to team up to join forces, either to pressure Damac to remove penalties or take them to DIFC courts, thanks.

they also hit me with lots of penalty although I m not at fault at all since my unit is mortgaged and I come from another project ( The Lotus). Because DAMAC has not issued the SPA, the bank refused to pay the installment - I have evidence as to when DAMAC released the SPA, and the bank making the installment 1 week later. DAMAC is refusing to take responsibility and are playing a silly game which will most likely be sorted out legally.
Please PM me with your contact if you want to join together.

Damac has yet again surpassed itself with glitzy lobby (full of workers) polishing and repairing and finishing. It will be another 6 months to a year before this building can be considered finished.
The aprtments are nothing but almost complete disappointment. The quality of workmanship with very poor finishing as well as substandard equipment has been a total let down.
6 years of wait and Damac delivers(!) yet another glossy lobby but jack all else.
:ohno::ohno::ohno::ohno::ohno:

11/February/2012

Park Towers

http://i42.tinypic.com/al5c02.jpg

http://i40.tinypic.com/2dsrb5x.jpg

http://i44.tinypic.com/ajwdgz.jpg

http://i42.tinypic.com/r1fp04.jpg

http://i41.tinypic.com/zlp1g.jpg

http://i43.tinypic.com/1zf33uh.jpg

http://i42.tinypic.com/1ot65j.jpg

http://i42.tinypic.com/25hmpsj.jpg

11/February/2012

Park Towers 1 Br interior photos, pool area etc..

http://i43.tinypic.com/14uakr4.jpg

Photos:

http://www.flickr.com/photos/imresolt/sets/72157629271154535/