Name: Lake View
Location: Jumeirah Lake Towers (http://www.skyscrapercity.com/showthread.php?p=1784261)
Plot: B2
Floors: 40
Height: 146m
Use: Residential
Cost: ?
Start Construction: 2004
End Construction: 2008

Developer: Damac

http://lakeview.damacproperties.com/

http://www.skyscrapercity.com/photopost/data/503/11020Lake_View.jpg

Found couple of pics.

http://www.gowealthy.com/lakeview/images/lakeview3.jpg

http://www.gowealthy.com/lakeview/images/lakeview2.jpg

sa boy has added the official height to ss.com! 146m

great
look at the roof level
The height of the atrium for the health club that would be great !

http://www.gowealthy.com/realestate/property/GRP0000024/GRP0000024_1B.jpg

Those fins on the roof looks THRILL !!

yes, great top
i suppose gym and pool up there as in so many towers

still with huge roof level will be great place to work out

yes, i'm not a work out guy, but if i'd live in this one i would train my muscles every day :D
many towers have a lovely roof with gym

giles - you MUST check your sources mate
we have marina terrace officially confirmed at 170m
we have lake terrace officially confirmed at 187m
we have ocean heights officially confirmed at 300m
how the hell can lake view be 146m??????? it MUST be about 180-190m as it is as tall as lake terrace in the pic

please check this once more if possible!

http://www.greatestcities.com/8794pic/018/CP43018.jpg/Ocean.JPG

dennis
I didnet add the height it was done by another editor but I can tell you it is a confirmed height via a Damac email

also remeber THE DRAWINGS ARE NOT TO SCALE

ok thanks
just wondering why they do this :weird:

marketing, to show there new tower is sooooooo much bigger then the past few

How do you get into Jumeriah Lake Towers?,is there a road yet or dirt track.

you can access the site but there are always gates with a security guy
sometimes somebody is there, sometimes not

but you need a 4x4!!!

there's a road parallel to it which goes all the way down to the gardens!

when you're at the entrance to emirates living (lakes, greems, meadowns,...) there is a roundabout with the name "montgomerie" on it! you might know it. you take the exit of tis roundabout going right into a construction site road. after 100m you can access the site through the brown dmcc fence
it's exactly parallel to the marina phase 1 towers

Bigger better render

http://www.harlon.co.uk/jlt_files/image003.jpghttp://www.harlon.co.uk/jlt_files/image004.jpg
http://www.harlon.co.uk/jlt_files/image005.jpghttp://www.harlon.co.uk/jlt_files/image006.jpg

http://www.harlon.co.uk/jlt_files/image001.jpg

Is that a new Junction I see on SZR for access to JLT?

yes, another one will be built there
it will also be the main access to jumeirah islands
will be a wonderful drive i guess

Oh yes it will be,
very nice, water right, towers everywhere...and grass...
mhm but don't know if the residents will love this street...no sure..

Mhm i love those Jumeirah Islands!
what about buying a house there?must be nice, what?

Does anyone have an update or any photos of the Lake View Construction?

Does anyone have an update or any photos of the Lake View Construction?

site not accessible :(
but they are at ground works currently

Thanks

A close up ..

http://img206.exs.cx/img206/3236/lakeviewtop2nl.jpg

An exclusive high resolution renderering.. :D

http://img111.exs.cx/img111/1381/lv2gz.jpg

thanks
i love that tower
the gym on top will be awesome

nice, though i saw better ones from you ;)

unbelievable renderings!

Amazing rendering, thanks markmywords. Im still really curious to know where you get these renderings from? I know its from your database but where did the content of that DB come from?

Who are the contractors building Lake View?

Oh yes it will be,
very nice, water right, towers everywhere...and grass...
mhm but don't know if the residents will love this street...no sure..

Mhm i love those Jumeirah Islands!
what about buying a house there?must be nice, what?


If you are looking forward to seeing a narrow stream of water ( if you are lucky) instead of a lake in front of your apartment, go right ahead. Dont get carried away by the glitter and yachts in the renderings . You cannot sue the developer of the apartment because the size the master developement is dramatically reduced. With a lake as wide as 10 m you can watch some paperboats float by. :D

after seeing those aerials and having a look at the site you are probably very right ;)

Hi!
Had a chance to visit the construction site this month and was happy to see the progress. I am not familiar with the Dubai roads but the taxi driver easily took me to the site. Will post a few pics next time.
Bye.

a taxi driver new it? :eek2: ...

Hey how do I insert a pic in my message????

1) Go to imageshack.us
2) Upload your picture (make sure it's in jpeg format) and wait until the next page loads.
3) You should be givena selection of links. Copy the one that says direct link to image (don't know if that's exact or not but something along those lines)
4) Paste it in your post and add "" before the url and "" after.

or use the IMG buttonon the post reply page instead of typing [img] in the text box.

If you are looking forward to seeing a narrow stream of water ( if you are lucky) instead of a lake in front of your apartment, go right ahead. Dont get carried away by the glitter and yachts in the renderings . You cannot sue the developer of the apartment because the size the master developement is dramatically reduced. With a lake as wide as 10 m you can watch some paperboats float by. :D
I thought the lake from JLT would be as wide as the Dubai Marina lake ^^

Well, from the plotmap it looks to be pretty wide most of this time but it does get narrow in places:

http://www.skyscrapercity.com/photopost/data/500/11020Jumeirah_Lake_Towers_Plot_Map_with_Towers.jpg

But I do agree when people say the lake's more of a gardening feature than a community

thanks malec, dubaiflo and chad

http://img389.imageshack.us/img389/2200/copyof20ourapartmentssite9ji.jpg

u need to put [/img] at the end of the link too.

http://img365.imageshack.us/img365/3796/dsc010938we.jpg

i thought this one must have progressed further already...

Hi.
Anyone having the latest pics of the Lake View project?
Any further development there??

Damac begins construction of Lake View
Posted: Monday, January 09, 2006
Dubai

Damac Properties has laid down the foundation for its second project at Jumeirah Lake Towers, Lake View.

Around 5,000 cu m of concrete was poured into the site, signaling the start of the construction of the 40-storey tower.

Lake View is an exclusive tower featuring 496 studio, one and two bedroom apartments with waterfront views of the surrounding lake. Centrally located at the Jumeirah Lake Towers on Sheikh Zayed Road, each apartment looks out over the neighboring islands, landscaped gardens, and promenades. The complex offers restaurants, retail outlets and children's crèche, a huge infinity swimming pool, fully equipped gymnasium, and health facilities.

"Today's step marks the continuation of Damac's commitment to its customers. By laying the foundation for the tower, we are proceeding on schedule and plan to deliver the final tower on time," said Peter Riddoch, CEO at Damac Properties.

Lake View is one of two towers that Damac is developing at the Jumeirah Lake Towers development, the other tower being Lake Terrace. The company was one of the first developers to announce projects in all the master planned freehold communities in Dubai.

"Damac Properties is a firm believer in the vision of Dubai. Our projects are designed to cater to the growing number of sophisticated individuals that are making Dubai their home. We are working with international and regional architects to develop concepts that blend in with the economic growth and culture of Dubai," added Riddoch.

Lake View is part of the 38-tower lakeside community that features residential and commercial towers. Damac in 2005 launched Ocean Heights, an 82-storey development in Dubai Marina, Executive Heights, the company's first solely commercial tower; The Crescent, a residential development at the International Media Production Zone, and the launch of its commercial division that handles sales for retail and commercial spaces offered in all its properties.

DAMAC Properties lays down foundation for Lake View
Author: Property World Middle East Tuesday, January 17, 2006 at 11:40
Rating:

Work gets underway at the Jumeirah Lake Towers site
Leading luxury lifestyle provider, DAMAC Properties, has laid down the foundation for its second project at Jumeirah Lake Towers, Lake View. Around 5,000 cubic meters of concrete were poured into the site, signaling the start of the construction of the 40-storey tower.

Lake View is an exclusive tower featuring 496 studio, one and two bedroom apartments with waterfront views of the surrounding lake. Centrally located at the Jumeirah Lake Towers on Sheikh Zayed Road, each apartment looks out over the neighboring islands, landscaped gardens, and promenades. The complex offers restaurants, retail outlets and children´s crèche, a huge infinity swimming pool, fully equipped gymnasium, and health facilities.

“This step marks the continuation of DAMAC’s commitment to its customers. By laying the foundation for the tower, we are proceeding on schedule and plan to deliver the final tower on time,” commented Peter Riddoch, CEO at DAMAC Properties.

Lake View is one of two towers that DAMAC is developing at the Jumeirah Lake Towers development, the other tower being Lake Terrace. The company was one of the first developers to announce projects in all the master planned freehold communities in Dubai.

“DAMAC Properties is a firm believer in the vision of Dubai. Our projects are designed to cater to the growing number of sophisticated individuals that are making Dubai their home. We are working with international and regional architects to develop concepts that blend in with the economic growth and culture of Dubai,” added Riddoch.

Lake View is part of the 38-tower lakeside community that features residential and commercial towers.

2005 has been an incredible year for DAMAC Properties with the launch of Ocean Heights, an 82-storey stunning development in Dubai Marina, Executive Heights, the company’s first solely commercial tower; The Crescent, the first residential development at the International Media Production Zone, and the launch of DAMAC’s commercial division that handles sales for retail and commercial spaces offered in all DAMAC’s properties.

DAMAC also signed MoUs with Mashreqbank and Abu Dhabi Commercial Bank to provide home loans to buyers within DAMAC’s properties.

The total value of DAMAC Properties’ projects is over AED 10 Billion. It is a subsidiary of DAMAC Holding established in 1982. An accredited ISO 9002 company, DAMAC Holding has now grown into a global conglomerate with more than 5000 employees in 16 countries. Being the first private sector company to make a commitment to the real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.

uhm, three times the same news :)

Dubaiflo Why is there always double trouble whereever you are :D

Two news storys the same one is from a diffrent date....i think site had problems yesterday hence why duabi flo's article submited twice.

Moderator needs to delete one

Think so too

:colgate: :colgate: :colgate: :clown: :clown: :nuts: :nuts: :nuts:

Schmeiß mich weg!! :crazy2: :dance2: :dance2: :rofl:

first of all , only two times :D

2nd, it was SSC and not me

3rd i am so attractive, i even attract trouble :D

Wuhaha :)

Der war ned schlecht!!!

Some pictures from Friday 20th Jan.

http://www.damacproperties.com/new/manager_images/2006-20-7-47-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-20-7-47-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-20-7-47-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-20-7-48-view4.jpg

From DAMAC Website

Feb 23, 2006 :

http://www.damacproperties.com/new/manager_images/2006-23-2-16-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-23-2-16-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-23-2-16-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-23-2-17-view4.jpg

Any thoughts on when this one will be actually complete?

What sort of prices are the resales of these apartments acheiving?

Have received correspondence from Damac saying that it is unlikey that the building will be finished until end Q1 2007. The actual lake will not be completed until end 2007. So I would go with the latter.

Price is a very tricky one I have seen prices in JLT (not lakeview!) for re-sale at below cost (from desperate sellers ?) but have not followed this up. Gowealthy are still advertising apartments from 1,758,000 Dhs @ http://www.gowealthy.com/realestate/uae/dubai/lakeview/cost.asp . However I though most of these had sold ? Any been in touch with gowealthy.com about these ?

More from the damac website on 23rd March 2006.

http://static.flickr.com/45/117590240_42f865fff6_o.jpg

http://static.flickr.com/40/117590241_5ef4262b91_o.jpg

Some more from March 23

http://www.damacproperties.com/new/manager_images/2006-23-3-37-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-23-3-37-view3.jpg

Lets hope this one will rise quickly like lake terrace...

they kept us waiting for ages, finally we see something

april 6

http://www.damacproperties.com/new/manager_images/2006-6-5-28-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-6-5-28-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-6-5-27-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-6-5-29-view4.jpg

could come up a bit faster, but we know the companies working for damac need a little longer!

Today

http://www.damacproperties.com/new/manager_images/2006-20-6-38-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-20-6-37-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-20-6-37-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-20-6-38-view4.jpg

Hopefully this one will pick up speed... by far the best damac tower to look forward to after ocean heights

April 27

http://www.damacproperties.com/new/manager_images/2006-28-23-7-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-28-23-7-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-28-23-7-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-28-23-8-view4.jpg

Yeah, I have seen this surprisingly narrow core from SZR, and I was wondering what building it belonged to.

it is really small :eek:

^^ You're right...the huge, now trademark, 100ft Damac banner that they're no doubt gona put up will dwarf the building it's going on!

May 4

http://www.damacproperties.com/new/manager_images/2006-4-4-54-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-4-4-52-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-4-4-52-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-4-4-55-view4.jpg

look at this ridiculous core :eek:

wtf?

look at this ridiculous core :eek:

wtf?

I assume you are in construction business. Can you explain your comment please!

:lol: ;)

no no , i am not.
but look at the size, it is incredibly small.

also look at the other pictures in post 66 to see how narrow it is.

i was just wondering.

:lol: ;)

no no , i am not.
but look at the size, it is incredibly small.

also look at the other pictures in post 66 to see how narrow it is.

i was just wondering.

No worries!
I think it is a relatively small tower as well as narrow in appearance. So, I guess that's why it appears small in comparison to what is being witnessed elsewhere.
:cheers:

21/05/2006

http://i4.tinypic.com/10f3jx4.jpg

Thanks for the updates AltinD. JLT is finally starting to take shape now.

I'm in Dubai for a week from Thurs... looking forward to finally being able to see Lake View from SZR/marina this visit! Fingers crossed it'll start to rise rapidly now.

Looking forward to staying at the Grosvenor this time. Great place to get a perspective of the scale of things from up high in Bar44 and just as impressively from the ground up in Buddha Bar. Hopefully we'll get a room with a good view too :cheers:

May 26

http://www.damacproperties.com/new/manager_images/2006-26-11-4-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-26-11-2-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-26-10-59-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-26-11-13-view4.jpg

29/5/06

Sorry, not too much to see from SZR...

... should start rising now though.

http://i6.tinypic.com/11mge1t.jpg

http://i6.tinypic.com/11mgh7t.jpg

From Damac's website 1 June 06

http://i5.tinypic.com/11qk5lv.jpg

http://i5.tinypic.com/11qk7so.jpg

http://i5.tinypic.com/11qk800.jpg

http://i6.tinypic.com/11qk87p.jpg

:lol: ;)

no no , i am not.
but look at the size, it is incredibly small.

also look at the other pictures in post 66 to see how narrow it is.

i was just wondering.

wierd...are they experiementing with different construction techniques or something then...sorry don't know a lot of how buildings are constructed :(

Thursday, July 13, 2006

http://www.damacproperties.com/new/manager_images/2006-14-18-7-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-14-18-6-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-14-18-5-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-14-18-7-view4.jpg

September 28, 2006

http://www.damacproperties.com/new/manager_images/2006-29-21-59-view1.jpg

http://www.damacproperties.com/new/manager_images/2006-29-21-58-view2.jpg

http://www.damacproperties.com/new/manager_images/2006-29-21-57-view3.jpg

http://www.damacproperties.com/new/manager_images/2006-29-22-0-view4.jpg

Good standard progress 1fl./week!!

Has anyone planned to invoke the clause regards failure to complete by 30 June 2007? How does this stack up and what are your thoughts?

28/10/2006

http://img124.imageshack.us/img124/6003/img3349fq5.jpg (http://imageshack.us)

I have been looking at the Lake Terrace forum and have noticed that this is being delayed till Oct/Nov. 2007. However, recieved letter few months ago that Lake view will be delayed till then. However, I am now not sure that LV will be completed by then as Lake terrace is way ahead of LV and therefore would be very surpurised if it catches up.

view the Lake Terrace forum:

http://www.skyscrapercity.com/showthread.php?t=120764&page=8

Please share your comments.

Thanks

What did the correspondance say about Lake View's completion?

From my understanding, Lake View will not be completed before summer 2008

What did the correspondance say about Lake View's completion?

The latest a few months back was that it's not completed till Nov 2007. Like mentioned in my above comments, I cannot believe it will be ready by then.
I just wish that Damac would give keep us more up to date.

From my understanding, Lake View will not be completed before summer 2008

where did you get this from?

I also got the letter saying mid-2007, though I think it more likely to be late 2007.

The letter also unequivocally stated that compensation will be paid, as per the contract, from the original completion date of 31/12/2006.

Damac have also confirmed (by email) that the compensation rate will be the LIBOR 90 DAY US Dollar rate as per the contract. The compensation will be taken off the final payment due to Damac.

I also got the letter saying mid-2007, though I think it more likely to be late 2007.

The letter also unequivocally stated that compensation will be paid, as per the contract, from the original completion date of 31/12/2006.

Damac have also confirmed (by email) that the compensation rate will be the LIBOR 90 DAY US Dollar rate as per the contract. The compensation will be taken off the final payment due to Damac.



How much Libor 90 day us dollar worth on a daily or monthly basis?

I also got free furniture vouchers from Damac on purchase of Lake View. These vouchers expire by Dec 2007. However, I am wondering what if Lake View is delayed into 2008, will these be still valid?

How much Libor 90 day us dollar worth on a daily or monthly basis?

Currently 5.25-5.5% (obviously fluctuates along with ex.rates, USD and GBP base rates etc etc)

http://www.forecasts.org/3mlibor.htm

also got free furniture vouchers from Damac on purchase of Lake View. These vouchers expire by Dec 2007. However, I am wondering what if Lake View is delayed into 2008, will these be still valid??

Damac also confirmed (by email) that the vouchers will be extended as required. In my opinion they should have 12 months validity from whenever the project is handed over as per the original terms whereby they should be redeemed by end of 2007 when the handover date was 31/12/2006.


p.s. I'm as frustrated as anyone about late delivery of apartments but this is the situation across the board in Dubai. At least we're getting agreed, no-quibble compensation (and don't forget you're effectively getting this gross as it's lopped off the final payment).
I think Damac's communication is reasonable - they send letters, they post an updated set of construction pics every week (showing progress of 1 floor/week) and they assign you a customer services rep who responds to emails (although it sometimes takes a few prompts). Not bad comparing with the experience of investors in Marina Heights, Wind etc. etc.

Currently 5.25-5.5% (obviously fluctuates along with ex.rates, USD and GBP base rates etc etc)

http://www.forecasts.org/3mlibor.htm



Damac also confirmed (by email) that the vouchers will be extended as required. In my opinion they should have 12 months validity from whenever the project is handed over as per the original terms whereby they should be redeemed by end of 2007 when the handover date was 31/12/2006.


p.s. I'm as frustrated as anyone about late delivery of apartments but this is the situation across the board in Dubai. At least we're getting agreed, no-quibble compensation (and don't forget you're effectively getting this gross as it's lopped off the final payment).
I think Damac's communication is reasonable - they send letters, they post an updated set of construction pics every week (showing progress of 1 floor/week) and they assign you a customer services rep who responds to emails (although it sometimes takes a few prompts). Not bad comparing with the experience of investors in Marina Heights, Wind etc. etc.



Thanks for your response. I believe that no way will Lake View be finished by end of 2007. I think that looking into mid 2008 is more likely. I do agree with you with regards to Damac's service, it is great and couldn't really ask for more (apart from early completion!). With regards to the libor 90 US dollar, and the currently value at say for eg. 5.25%. Would I be correct in saying that you would get a discount of 5.25% of the purchase price every 90 days.
Thanks

No, I think 5.25% is the annual rate (ie. 'USD 90 Day [or 3 month] LIBOR' is just the name of the rate).

Effectively this means that the money you've handed over to Damac (and continue to handover as staged payments) will earn interest at the LIBOR rate from 31/12/06 until the actual handover date (whenever that turns out to be!).

Upside: your money is earning interest from 31/12/06 whilst the property is also hopefully gaining value. :)

Downside: you don't have use of your property until it's finished and therefore also can't avail of the high rental rates currently available. :bash:

Thanks for your response. One of my major worries is that having looked at the following website:

http://www.skyscrapercity.com/showthread.php?t=379452

which illustrates the estimated completion date for the apartments. Looking at mid 2008, when lake view will also be completed, there will be so many other apartments completed then as well, which may hit over supply. Presently, apartments can command higher rates due very little properties being supplied.

Does Damac's clause in the contract regards refunding monies paid if the building is not completed by Jun 30 2007 stand up? Is this an option anyone is considering?

28/10/2006

http://img124.imageshack.us/img124/6003/img3349fq5.jpg (http://imageshack.us)

nice pic! From where has it been taken? Has the construction of lake started in this area?

Did anyone go to the Damac gala dinners in the UK last week?

Any news, info or gossip?

Dec 30, 2006

http://www.damacproperties.com/new/manager_images/2007-1-1-8-view3.jpg

http://www.damacproperties.com/new/manager_images/2007-1-1-7-view2.jpg

http://www.damacproperties.com/new/manager_images/2007-1-1-5-view1.jpg

http://www.damacproperties.com/new/manager_images/2007-1-1-10-view4.jpg

Does anyone know if DAMAC have changed the design of this tower to eliminate one of the main features - the huge infinity pool ? I've checked the DAMAC site recently and the scan down the building seems to stop deliberately before the pool and the floor layouts at the concourse layouts show no sign of the pool but seem to show a standard rectangular. It would be a real shame to lose this stunning feature for the sake of packing in a few more dreary boutiques.

Has anyone recieved notice that they have reached the 20th floor and that the next stage payment is due?

07/Feb/2007

Lake View

http://img122.imageshack.us/img122/3963/photo01lc1.jpg (http://imageshack.us)

11/March/2007

http://img411.imageshack.us/img411/2558/photo02tn9.jpg (http://imageshack.us)

Has anyone recieved notice that they have reached the 20th floor and that the next stage payment is due?

Hi Nick hows thinks with your tower?
have a look at completed projects on Marina Heights TOWER

http://img127.imageshack.us/img127/7131/lakeview1ou2.th.jpg (http://img127.imageshack.us/my.php?image=lakeview1ou2.jpg)
http://img127.imageshack.us/img127/5223/lakeview4ni3.th.jpg (http://img127.imageshack.us/my.php?image=lakeview4ni3.jpg)
http://img127.imageshack.us/img127/4316/lakeview3pp1.th.jpg (http://img127.imageshack.us/my.php?image=lakeview3pp1.jpg)
http://img127.imageshack.us/img127/9243/lakeview2tt4.th.jpg (http://img127.imageshack.us/my.php?image=lakeview2tt4.jpg)

Up to 31st Floor!

^^ thanks for posting

WOW a DAMAC project that grows by at least 1 floor per week. That's got to be a first ...

































... for Damac.

Another albanian pyramid scheme.

^^ Ha, Ha ... very funny ...


























... maybe NO!

http://img225.imageshack.us/img225/4649/lakeviewcjr3.th.jpg (http://img225.imageshack.us/my.php?image=lakeviewcjr3.jpg)
http://img225.imageshack.us/img225/2680/lakeviewbax7.th.jpg (http://img225.imageshack.us/my.php?image=lakeviewbax7.jpg)

http://img185.imageshack.us/img185/9973/lakeview4zt6.th.jpg (http://img185.imageshack.us/my.php?image=lakeview4zt6.jpg)
http://img185.imageshack.us/img185/9168/lakeview3bj5.th.jpg (http://img185.imageshack.us/my.php?image=lakeview3bj5.jpg)
http://img185.imageshack.us/img185/2691/lakeview2dd1.th.jpg (http://img185.imageshack.us/my.php?image=lakeview2dd1.jpg)
http://img185.imageshack.us/img185/4084/lakeview1so9.th.jpg (http://img185.imageshack.us/my.php?image=lakeview1so9.jpg)

Up to 35th floor. :)

03/May/2007

Lake View

http://img291.imageshack.us/img291/1030/imresolt18zv0.jpg (http://imageshack.us)

Thanks Imre.:)

Has anyone else been notified by DAMAC that the structure is complete and that the next installment is due by the end of this month? I thought the structure was going up to 40 residential floors and Imre's photo only shows it at 35. If anyone sees a 36th floor being constructed can they post a photo so I can go back to DAMAC and point out that the structure is still rising and therefore incomplete. Thanks.

^^ I asked Damac at the start of April to clarify what "structure complete" means. They replied (in writing) that it means when the overall building construction has been finished. This includes the roof structure as a whole, but does not include the glass facade.

At the time they couldn't tell me when "structure complete" was expected to be... which would have been handy for planning foreign currency etc.:bash:

It looks to me like we're up to the 37th floor. So 3 floors to go plus the roof structure which I think is at least 2 months away (probably more).

I'm going to chase them up and see what the story is.

Thanks Toofif! That is very interesting and I look forward to their alternative explanation of structural completion......

DAMAC are now stating that structure is completed including the roof. They have an interesting definition of what constitutes a roof. Apparently it's the bit below the bit on the top!:nuts:

If you gave a 4 year old a picture of the building, they would be able to tell you which part is the roof so why does DAMAC think it's customers are going to accept this rubbish?

I'll continue to push them for an appropriate response.

Financially this doesn't make much difference... after all, they're paying compensation for any amounts paid to them after 31/12/06. It's the principle though - they won't get any repeat business if they treat their (patient) customers like this.

It's probably an opportune time to make contact with a good lawyer in Dubai as I'm expecting a few more unthruths to surface from hereon.

Flintbug, I sent you a mail...

They are just lying as usual the structure is clearly not complete, im getting sick of their total bullshit attitude they treat us as though we are stupid!!! Bastards

Is there a long delay? How many months?

13/May/2007

Lake View

http://img155.imageshack.us/img155/2145/imresolt06rd5.jpg (http://imageshack.us)

15/May/2007

Lake View, Icon Towers, Lakepoint

http://img254.imageshack.us/img254/7547/imresolt34nw1.jpg (http://imageshack.us)

http://img519.imageshack.us/img519/7607/lakevw1fo9.th.jpg (http://img519.imageshack.us/my.php?image=lakevw1fo9.jpg)
http://img519.imageshack.us/img519/5836/lakevw2cr1.th.jpg (http://img519.imageshack.us/my.php?image=lakevw2cr1.jpg)
http://img519.imageshack.us/img519/6667/lakevw3ql4.th.jpg (http://img519.imageshack.us/my.php?image=lakevw3ql4.jpg)
http://img509.imageshack.us/img509/9158/lakevw4ff1.th.jpg (http://img509.imageshack.us/my.php?image=lakevw4ff1.jpg)

24/May/2007

Lake View from Almas Tower

http://i19.tinypic.com/61krqd0.jpg

May 28, 2007


http://www.damacproperties.com/new/manager_images/2007-29-8-12-Lake-View3.jpg

http://www.damacproperties.com/new/manager_images/2007-29-8-4-Lake-View1.jpg

11/June/2007

Lake View

http://img508.imageshack.us/img508/1558/imresolt09of2.jpg (http://imageshack.us)

http://img504.imageshack.us/img504/341/imresolt10jb8.jpg (http://imageshack.us)

^^ Thanks Imre. :)

Looks like glazing has started (bottom RHS of your first pic). If you can get any better pics of this, I'd appreciate it.

Looks like they are keeping all the formwork at the top of the tower to complete the final five floors. Its well over a month since they poured that top floor and they would have removed the formwork from the site by now if it wasn't going to be used again. So much for structural completion!

22/June/2007

Lake View

http://img140.imageshack.us/img140/2160/imresolt005ms5.jpg (http://imageshack.us)

http://img408.imageshack.us/img408/8354/imresolt006hp7.jpg (http://imageshack.us)

^^ Thanks Imre!

27/June/2007

Lake View

http://img525.imageshack.us/img525/5161/imresolt09mn8.jpg (http://imageshack.us)

Is it just me or does it seem as the building doesnt seem to have been worked on in the last few weeks or are they doing the inside of the building.

They've taken the DAMAC sign down... incredible progress. :carrot:

Hopefully it's full steam ahead on the glazing, cladding and interiors now. The next few months should give an indication of how the final building will shape up.

Let's just hope they improve the choice of bathroom tiles from the Waves and Lake Terrace. :gaah:

14/July/2007

LAKE VIEW

http://img295.imageshack.us/img295/8099/imresolt117ro1.jpg (http://imageshack.us)

http://img295.imageshack.us/img295/8965/imresolt118gu3.jpg (http://imageshack.us)

Great photos. Thanks again Imre.

Imre - your photos are far better than DAMAC themselves. Please keep up the great work.

Today received a letter from DAMAC that states:

"...the development is moving ahead well, with internal finishes & electrical etc. progressing on schedule.

The anticipated completion date is December 2007."

Can't see any chance of being December 2007. My guess would be mid-2008 at the earliest.

27/July/2007

Lake View

http://img518.imageshack.us/img518/5535/imresolt111fn8.jpg (http://imageshack.us)

3 years construction till which time they will complete lool ....(in black list this tower )

Has anyone else noticed that they appear to have started work on the top of the structure again......maybe that's the missing floors they forgot when they said the structure was complete.....?? Looks like a double height storey?

Hi Flintbug,

I think they're constructing the roof feature at the top. Looking at the diagram on my contract, the residential floor levels are counted from, and include, the podium levels. So I'm not sure there are 40 residential floors in the building.

I found the following pics on the web. The first shows the health club in the roof feature (something DAMAC were keen to state when I bought) though my guess is that this will be a mechanical floor.

The other pics show the proposed podium levels... looks to me like this is where the health club level is.

Health Club Level - shown as top floor
http://img297.imageshack.us/img297/6171/lakeviewfloorsea4.th.png (http://img297.imageshack.us/my.php?image=lakeviewfloorsea4.png)


Promenade Level Floorplan
http://img182.imageshack.us/img182/2531/lakeviewpromenadelevelqx4.th.png (http://img182.imageshack.us/my.php?image=lakeviewpromenadelevelqx4.png)

Concourse Level Flooplan
http://img182.imageshack.us/img182/7434/lakeviewconcourselevelxh1.th.png (http://img182.imageshack.us/my.php?image=lakeviewconcourselevelxh1.png)

Health Club Level Floorplan - looks to be above promenade level
http://img341.imageshack.us/img341/8804/lakeviewhealthclublevelwv1.th.png (http://img341.imageshack.us/my.php?image=lakeviewhealthclublevelwv1.png)

10/Aug/2007

Lake View and Icon Towers

http://img164.imageshack.us/img164/5666/imresolt131pk5.jpg (http://imageshack.us)

14/Aug/2007

Lake View

http://img260.imageshack.us/img260/7802/imresolt43xf5.jpg (http://imageshack.us)

Thanks again Imre!

I found an article in Gulf News which may explain why DAMAC rushed to declare the structure complete rather than at its 70% stage (by payments) despite the roof structure clearly not even started:-

From Gulf News:-
--------------------------------------------------------------------

Dubai: Under the trust account law, people buying properties off plan at Dubai projects will make their payments into special accounts managed by banks and financial institutions instead of directly to the property developers.

The law came into effect on June 28, 2007 upon publication in the Official Gazette. It applies to any developments where off-plan sales were launched after that date.

For developments that are already 70-80 per cent completed, the developer will not be required to open a trust account.

For developments where work has started on site and passed the shoring stage, a trust account will need to be opened by December 28, 2007.

For developments that have not reached shoring stage, a trust account will need to be opened immediately, the Land Department said.

Government officials say money in these accounts can only be used for the project for which they were intended and will be released in stages only when certain levels of construction are completed.

----------------------------------------------------------

Its not clear where the cut-off occurs for a 70 - 80% complete structure. Lake View would clearly be borderline for this, and thus may require DAMAC to place all clients' money in an Escrow account by the end of the year. Of course this would not matter if the development has already been completed by then as DAMAC say they will.

Having just viewed the latest pictures from the DAMAC website, it looks like they have made virtually no progress on this build since May. It looks like only a few glass panels have been put in. The only other significant change appears to be the removal of the floor numbering.

Does this really belong as under construction?

DAMAC have already claimed the stage payment for structural completion bringing the investors commitment to 85%. There is a 1% per month penalty for late completion after Jan 07, and completion is not likely before 2nd quarter 2008. So DAMAC won't be getting any more money out of this site.

I cancelled my apt in ocean heights and told damac to transfer money to an apt i had in lake view to cover any outstanding payments but they paid off 100% of the lake view apt without my permission. And when i called them, i was told the money isnt mine its damac's and they can pretty much do what they want. They are a bunch of fucking crooks. There is noway that project is gonna be finished this year. Donot trust this company they are as untrustworthy as they come.

I cancelled my apt in ocean heights and told damac to transfer money to an apt i had in lake view to cover any outstanding payments but they paid off 100% of the lake view apt without my permission. And when i called them, i was told the money isnt mine its damac's and they can pretty much do what they want. They are a bunch of fucking crooks. There is noway that project is gonna be finished this year. Donot trust this company they are as untrustworthy as they come.

Get a lawyer involved and I'll bet they'll have the o/s funds back to you asap. Your 2 contracts (for Ocean Heights and Lake View) are completely separate so they've got no right to take money from one and apply it to the other.

Progress has been disappointingly slow over the summer. Since the start of this year I've revised my own estimate of the completion date to summer 2008. After reading about other towers in JLT, even if they delivered before this I doubt they would be able to get DEWA connection anyway.

Frustrating but it's Dubai all over I suppose. It could be worse.... just looking at our neighbouring plots.

28/Aug/2007

Lake View

http://img527.imageshack.us/img527/9532/imresolt07va1.jpg (http://imageshack.us)

http://img523.imageshack.us/img523/2821/imresolt08xu7.jpg (http://imageshack.us)

http://img254.imageshack.us/img254/5226/imresolt09rg4.jpg (http://imageshack.us)

Great shots Imre! This does look like an extra floor level. Any ideas whether this will be a communal floor or just an exclusive penthouse? If I were the ridiculously optimistic sort, I may venture a guess that this was the new location for the feature infinity pool....

The glass installation is incredibly slow though - not sure how DAMAC expect to finish this by December.

by December 2008 ?

first of all , they should finish the Lake Terrace , but I think that will be ready just in 2008.

Damac really takes the piss - no progress in the past 4/5 months - must be extremlely frustrating for owner/investors:bash:
Imre is right - literally end of next year for completion I think

what's the poblem here for slow construction, have they run out of materials or something? Is there a competition between developers in who can finish last?

Lake Terrace handover has been delayed from October/November this year until January 2008.

All the floor numbers seem to have magically vanished from the historical photo record on DAMAC's website. However, thanks to the fantastic contribution from Imre, history won't have been erased by the airbrush of the DAMAC marketing team. Why couldn't they just admit a mistake if the numbering was wrong?

Damac has not kept one single sign board :ohno: its not return there developer is damac or project name is lake view only contract sign board of china is there where all chinese labour are working even they dont know the tower name they just know the plot number b2.:bash: ....... even canteen people dont know the project name......they just know that it is B2....... it was too hard to find the building:nuts: .... but now glass has been ready upto 7th floor........ electricty is also there. :banana: .... and they are allowing to go up and see....... bcoz there is no one to ask u:lol:

Kishan - very interesting about the lack of DAMAC signs. Did you manage to get any internal photos? Have you seen the standard of the finish?

I doubt that electricity is there:) they have just a generator nothing else.

Hi everyone,

I am about to buy in this tower. Please tell me if I shouldn't and anything else you know about this tower.

Thanks

Prepare to be frustrated by DAMAC's promises. They are currently stating completion Dec 2007 but I think that was a typo. More likely Dec 2008.

It would be worth trying to get a view of a completed interior if at all possible as DAMAC's idea of highest quality may well not match your own.

I bought on the secondary market earlier this year and DAMAC have been trying to rewrite the contracts ever since to their advantage - be prepared to involve a solicitor at some stage in the transfer process and at the completion/settlement time when you will need to get compensation (likely to be significant!) from DAMAC. Check your clauses carefully!!!!

DAMAC claimed to have completed the main structure months ago but have recently added an extra floor and they are still pouring structural concrete at the top. You will probably be asked to fully pay the currently due instalments including the structural completion one during the transfer process despite DAMAC still not having achieved structural completion.

I am still looking forward to occupying my apartment but am now being realistic about completion dates and not trusting anything from DAMAC.

Hi everyone,

I am about to buy in this tower. Please tell me if I shouldn't and anything else you know about this tower.

Thanks

better if you buy another one, but no DAMAC!!(and of course not Wind Properties)

Alipalipoo - not the best of ideas - becuase you will be paying the 80/90% payment plus premium and nothing will be delivered within an year from now - instead put it in a project that is realistically going to handover in a few months time. If you have to by Damac - Lake Terrace might be a better bet than Lake View - that too will take the best part of an year for handover.

http://img502.imageshack.us/img502/3049/200712353lv42027907aw7.jpg (http://img502.imageshack.us/my.php?image=200712353lv42027907aw7.jpg)


http://img502.imageshack.us/img502/4972/200712352lv32027907wx5.jpg (http://img502.imageshack.us/my.php?image=200712352lv32027907wx5.jpg)


http://img502.imageshack.us/img502/2405/200712351lv2202027907zs4.jpg (http://img502.imageshack.us/my.php?image=200712351lv2202027907zs4.jpg)


http://img502.imageshack.us/img502/2603/200712350lv1202027907vv5.jpg (http://img502.imageshack.us/my.php?image=200712350lv1202027907vv5.jpg)

excellent pictures tony90

Prepare to be frustrated by DAMAC's promises. They are currently stating completion Dec 2007 but I think that was a typo. More likely Dec 2008.

It would be worth trying to get a view of a completed interior if at all possible as DAMAC's idea of highest quality may well not match your own.

I bought on the secondary market earlier this year and DAMAC have been trying to rewrite the contracts ever since to their advantage - be prepared to involve a solicitor at some stage in the transfer process and at the completion/settlement time when you will need to get compensation (likely to be significant!) from DAMAC. Check your clauses carefully!!!!

DAMAC claimed to have completed the main structure months ago but have recently added an extra floor and they are still pouring structural concrete at the top. You will probably be asked to fully pay the currently due instalments including the structural completion one during the transfer process despite DAMAC still not having achieved structural completion.

I am still looking forward to occupying my apartment but am now being realistic about completion dates and not trusting anything from DAMAC.

Flintbug, Imre and ferrari,

Thanks alot for sharing you thoughts. I really appreciate it.
At the end I didn't go through with the deal.

Alipalipoo

my client wants to sell one studio and 1br in this tower how much i can except?

http://img140.imageshack.us/img140/9396/200718026lake20view2016hz7.jpg (http://img140.imageshack.us/my.php?image=200718026lake20view2016hz7.jpg)

http://img140.imageshack.us/img140/1963/200718027lake20view2016qk4.jpg (http://img140.imageshack.us/my.php?image=200718027lake20view2016qk4.jpg)

http://img140.imageshack.us/img140/9092/200718028lv20120300907bo7.jpg (http://img140.imageshack.us/my.php?image=200718028lv20120300907bo7.jpg)

http://img140.imageshack.us/img140/723/200718029lv20320300907np3.jpg (http://img140.imageshack.us/my.php?image=200718029lv20320300907np3.jpg)

18/October/2007


http://img147.imageshack.us/img147/5715/imresolt096rl3.jpg (http://imageshack.us)

18/October/2007


http://img147.imageshack.us/img147/1368/imresolt097rz3.jpg (http://imageshack.us)

22/Oct/2007

Goldcrest Views 2 and Lake View

http://img526.imageshack.us/img526/1481/imresolt09fx7.jpg (http://imageshack.us)

03/November/2007

Lake View

http://img516.imageshack.us/img516/296/imresolt34rb9.jpg (http://imageshack.us)

http://img530.imageshack.us/img530/333/imresolt35gz3.jpg (http://imageshack.us)

http://img162.imageshack.us/img162/9346/imresolt36xp3.jpg (http://imageshack.us)

http://img530.imageshack.us/img530/5817/imresolt37ek1.jpg (http://imageshack.us)

16/November/2007

Lake View

http://img340.imageshack.us/img340/4539/imresolt054ki3.jpg (http://imageshack.us)

http://img339.imageshack.us/img339/3153/imresolt055ax7.jpg (http://imageshack.us)

hello all. this is my first post on this forum, i bought a studio on lake view approx 3 yrs ago and obviously am a little dissappointed with the delays the same as everybody else. just wanted to say thanx to imre for all the efforts put in to keep us all informed. thanks imre

thanks and welcome on the forum:)

Goldcrest views 2 will overtake this one, or has it already???

I got a letter from Damac that Handover is on April What Do u think it will be on April or still they will late?

how much rent i can except for 1br, 12th floor?

which April? 2008 is impossible ,2009 is ok:)

No:ohno: they are telling that it will be on april 2008:lol:

They said the Lake Terrace also April 2008:)just see the differenve between the Lake Terrace and Lake View...

14/December/2007

Lake View

http://img249.imageshack.us/img249/9168/imresolt41me6.jpg (http://imageshack.us)

http://img222.imageshack.us/img222/113/imresolt42cv2.jpg (http://imageshack.us)

02/January/2008

Lakepoint and Lake View

http://img267.imageshack.us/img267/2023/imresolt26sa5.jpg (http://imageshack.us)

08/January/2008

Lake View

http://img441.imageshack.us/img441/8365/imresolt010ne0.jpg (http://imageshack.us)

http://img176.imageshack.us/img176/6254/imresolt011ey6.jpg (http://imageshack.us)

http://img408.imageshack.us/img408/4714/imresolt078qo6.jpg (http://imageshack.us)

http://img160.imageshack.us/img160/7623/imresolt079op8.jpg (http://imageshack.us)

23/January/2008


http://img502.imageshack.us/img502/592/imresolt19co9.jpg (http://imageshack.us)

28/February/2008

Lake View

http://img168.imageshack.us/img168/2669/imresolt13ki5.jpg (http://imageshack.us)

http://img204.imageshack.us/img204/6083/imresolt14nb5.jpg (http://imageshack.us)

08/March/2008

from my balcony (Goldcrest Views 2):)

http://img396.imageshack.us/img396/646/imresolt01yp2.jpg (http://imageshack.us)

http://img186.imageshack.us/img186/7540/imresolt02eq7.jpg (http://imageshack.us)

http://img186.imageshack.us/img186/6605/imresolt04mv0.jpg (http://imageshack.us)

http://img374.imageshack.us/img374/6013/200827615lakeview126030my9.jpg
http://img362.imageshack.us/img362/3523/200827616lakeview226030ki2.jpg
http://img329.imageshack.us/img329/8471/200827617lakeview326030if2.jpg
http://img177.imageshack.us/img177/6121/200827618lakeview426030bc1.jpg

Any one have any idea when handover will be? or any other usefull info on this project?

no pics coming from damac...

I think these are all pics of a 2-bed:

http://img215.imageshack.us/img215/4240/2008232321lakeview11304gt3.th.jpg (http://img215.imageshack.us/my.php?image=2008232321lakeview11304gt3.jpg)

http://img215.imageshack.us/img215/930/2008232323lakeview21304vf2.th.jpg (http://img215.imageshack.us/my.php?image=2008232323lakeview21304vf2.jpg)

http://img141.imageshack.us/img141/5690/2008232323lakeview31304ne3.th.jpg (http://img141.imageshack.us/my.php?image=2008232323lakeview31304ne3.jpg)

http://img215.imageshack.us/img215/8186/2008232325lakeview41304ub2.th.jpg (http://img215.imageshack.us/my.php?image=2008232325lakeview41304ub2.jpg)

15/May/2008

Lake View

http://img529.imageshack.us/img529/1411/imresolt174iq9.jpg (http://imageshack.us)

http://img211.imageshack.us/img211/804/imresolt175dg4.jpg (http://imageshack.us)

http://img169.imageshack.us/img169/3273/imresolt176ku9.jpg (http://imageshack.us)

http://img169.imageshack.us/img169/4487/imresolt177op0.jpg (http://imageshack.us)

So finally Lake Terrace is being handed over ...
Any expected date of completion for Lake View?
What about the compensation formula?

any update on the progress?????????/

New update at last on DAMAC's website and final confirmation that DAMAC have indeed casually eliminated the main feature of this development - the huge infinity pool has turned into no more than a puddle compared to what was being marketed.

Does anyone consider this a reasonable contractual replacement?

very disapointing as far as the pool is concerned! Also no date of handing over the apartments to its owners...

I think we should not be considering handover dates until we see the crane coming down. If you look back on the Lake Terrace project, as to when the crane disappeared compared to the handover date, that should be a far better guide than anything we hear from DAMAC.

I've just done the check myself about Lake Terrace:-

Imre reported the crane coming down on December 10th 2007.
Gujji reported getting his handover at the beginning of June 2008 which is the earliest reported handover I can see.

So we should expect 6 months from the time the crane disappears but remember that for Lake Terrace the period didn't include the summer working hours or Ramadan!

People from DAMAC have subtly changed their stance recently and are now being adamant that Lake View will definitely be completed this year. Where did 'completed this summer' disappear to??

Yes I expect to see the building completed this year but I won't be planning on cooking a turkey in the oven for Xmas!!

http://img76.imageshack.us/img76/6350/200824546lakeview312608th1.th.jpg (http://img76.imageshack.us/my.php?image=200824546lakeview312608th1.jpg)http://img76.imageshack.us/img76/9084/200824545lakeview212608kc4.th.jpg (http://img76.imageshack.us/my.php?image=200824545lakeview212608kc4.jpg)http://img76.imageshack.us/img76/5913/200824544lakeview112608wf9.th.jpg (http://img76.imageshack.us/my.php?image=200824544lakeview112608wf9.jpg)http://img76.imageshack.us/img76/8416/200824547lakeview412608ne1.th.jpg (http://img76.imageshack.us/my.php?image=200824547lakeview412608ne1.jpg)

http://img410.imageshack.us/img410/4790/lakeviewtg6.jpg (http://img410.imageshack.us/my.php?image=lakeviewtg6.jpg)

http://img410.imageshack.us/img410/4628/lakeview1bx0.jpg (http://img410.imageshack.us/my.php?image=lakeview1bx0.jpg)

http://img410.imageshack.us/img410/3351/lakeview2wt0.jpg (http://img410.imageshack.us/my.php?image=lakeview2wt0.jpg)

http://img410.imageshack.us/img410/1989/lakeview3js7.jpg (http://img410.imageshack.us/my.php?image=lakeview3js7.jpg)

it seams there was a fire yesterday.

2 floors of the top section is black , I think not too serious.

18/July/2008

Lake View, JLT

http://img300.imageshack.us/img300/2046/imresolt002wl7.jpg (http://imageshack.us)

http://img148.imageshack.us/img148/5611/imresolt004zh6.jpg (http://imageshack.us)

Any information on how much compensation (in AED) buyers expect to receive for the almost 2 year delay on the Lake View project? Also does anyone know when the Lake (ie Almas West) will be completed?

nas001

Any information on how much compensation (in AED) buyers expect to receive for the almost 2 year delay on the Lake View project? Also does anyone know when the Lake (ie Almas West) will be completed?

nas001

found this on another thread:

Also about the lakes - got clarification from DMCC.. the schedule is as follows:
Lake A – Almas West – completion – Early 2010
Lake B – Almas East – completion – Late 2009
Lake C – Lake Elucio – completion – Late 2008
Lake D – Lake Allure – completion – Early 2009

Why dont DAMAC update their website with more recent pictures of their Lake View Project? For example today I went into their website and the last pics were taken on 13/7/08! What has happened in the last month? At one time they used to update us every 1-2 weeks.

any new pics imre??

I've just recently purchased (re-sell) one bedroom flat on the 33rd Floor. Can anyone shed light on where exactly the health club will be situated?

I've just recently purchased (re-sell) one bedroom flat on the 33rd Floor. Can anyone shed light on where exactly the health club will be situated?

Welcome to Lake View!

I'm not certain where the health club is going to be and you certainly cannot rely on any of the sales literature provided by DAMAC. There were rumours early on, probably fed by DAMAC sales staff, that the entire roof feature would be a spectacular health club with amazing high ceilings and stunning views. If you can find a layout of the basement you may see it mentioned now in one of the ordinary retail units.

The main selling feature of this tower was the huge infinity pool which has now shrunk to a pathetic postage stamp.

The one thing you can expect from DAMAC is disappointment and frustration.

Welcome to Lake View!

I'm not certain where the health club is going to be and you certainly cannot rely on any of the sales literature provided by DAMAC. There were rumours early on, probably fed by DAMAC sales staff, that the entire roof feature would be a spectacular health club with amazing high ceilings and stunning views. If you can find a layout of the basement you may see it mentioned now in one of the ordinary retail units.

The main selling feature of this tower was the huge infinity pool which has now shrunk to a pathetic postage stamp.

The one thing you can expect from DAMAC is disappointment and frustration.


You are certainly right about encountering disappointment and frustration from DAMAC! There are many disappointed DAMAC investors like me and it is a shame they have not realised this so far and appear to be oblivious to their responsibilities towards their investors. However in my view they MUST NOT be allowed to get away with promising what they cannot deliver. I would certainly like to see DAMAC taken to the new property court in Dubai I think will be in operation from Sept 2008 to resolve the above matters and other outstanding issues pertaining to DAMAC properties eg late completion of this and other projects, compensation payments to investors etc. I would love to hear from other DAMAC investors who are prepared to take DAMAC to court?

You are certainly right about encountering disappointment and frustration from DAMAC! There are many disappointed DAMAC investors like me and it is a shame they have not realised this so far and appear to be oblivious to their responsibilities towards their investors. However in my view they MUST NOT be allowed to get away with promising what they cannot deliver. I would certainly like to see DAMAC taken to the new property court in Dubai I think will be in operation from Sept 2008 to resolve the above matters and other outstanding issues pertaining to DAMAC properties eg late completion of this and other projects, compensation payments to investors etc. I would love to hear from other DAMAC investors who are prepared to take DAMAC to court?

DAMAC are so slow with this development that we should have plenty of time to see how the new property court is performing. Ideally it should provide a firm and clear guidance by its early decisions and leave the rogue developers scampering to mend their ways.

One thing that would really help is if the court could order any of their rulings to apply to all related units in a development - that way Developers will not rely on the majority of disgruntled investors being reluctant to go through a court process.

Welcome to Lake View!

I'm not certain where the health club is going to be and you certainly cannot rely on any of the sales literature provided by DAMAC. There were rumours early on, probably fed by DAMAC sales staff, that the entire roof feature would be a spectacular health club with amazing high ceilings and stunning views. If you can find a layout of the basement you may see it mentioned now in one of the ordinary retail units.

The main selling feature of this tower was the huge infinity pool which has now shrunk to a pathetic postage stamp.

The one thing you can expect from DAMAC is disappointment and frustration.

Thanks for your reply, I've actually received an e-mail from DAMAC today confirming that the top level (the hood of lakeview building) is actually for a one bedroom DUPLEX apartment. So I guess DAMAC are going to put the health club some place else??? Dunno where? This has totally smacked any confidence I have with DAMAC! Lets hope that there are no more ugly surprises!

See post 143 - I posted pictures showing Damac diagrams which initially showed the Health Club as being on the top floor and then it subsequently appearing on one of the podium levels.

Let's hope the courts do something about developers not delivering on promises. The developers bank on customers not being bothered enough (or confident enough of action) to take them to court.

Anyway, I agree people should join together to sort these problems out. The key time to do this is on completion prior to handover and final payment.

See post 143 - I posted pictures showing Damac diagrams which initially showed the Health Club as being on the top floor and then it subsequently appearing on one of the podium levels.

Let's hope the courts do something about developers not delivering on promises. The developers bank on customers not being bothered enough (or confident enough of action) to take them to court.

Anyway, I agree people should join together to sort these problems out. The key time to do this is on completion prior to handover and final payment.

Hi Toofif!

At the rate we are going there should not be any final payment to DAMAC due to the compensation written in the contract that we should be expecting at the very least.

The handover is definitely the time to involve a good lawyer as DAMAC will inevitably try it on with every investor.

The health club and swimming pool are clear areas where DAMAC are not delivering the same level or better spec as required by the contract. Not sure how we calculate the loss of these facilities. Both were very important in my decision (pool for my young kids and inspirational health club for my middle aged spread!). I think I could have accepted the loss of the huge pool if only we had got something equally spectacular rather than what simply looks like the cheapest option possible for DAMAC to make maximum profits.

Anyone know whether DAMAC aims to run the management company after completion? Did they do this at Lake Terrace? The sooner we see the back of this dreadful company the better. I would be very keen for the management company to charge DAMAC market rates for any advertising they leave on the building!

Hi Toofif!

At the rate we are going there should not be any final payment to DAMAC due to the compensation written in the contract that we should be expecting at the very least.

The handover is definitely the time to involve a good lawyer as DAMAC will inevitably try it on with every investor.

The health club and swimming pool are clear areas where DAMAC are not delivering the same level or better spec as required by the contract. Not sure how we calculate the loss of these facilities. Both were very important in my decision (pool for my young kids and inspirational health club for my middle aged spread!). I think I could have accepted the loss of the huge pool if only we had got something equally spectacular rather than what simply looks like the cheapest option possible for DAMAC to make maximum profits.

Anyone know whether DAMAC aims to run the management company after completion? Did they do this at Lake Terrace? The sooner we see the back of this dreadful company the better. I would be very keen for the management company to charge DAMAC market rates for any advertising they leave on the building!


I fully agree that all DAMAC investors should get together and force DAMAC to listen to our legitimate concerns about delivering what was promised. I dont believe we will get much compensation from DAMAC and not anywhere near to cover the final instalment? Anyone know how much in Dirhams DAMAC will have to pay for the 2 year+ delay of Lake View? I personally dont think Lake View will be ready for handover before early 2009.

Hi Toofif!

At the rate we are going there should not be any final payment to DAMAC due to the compensation written in the contract that we should be expecting at the very least.

The handover is definitely the time to involve a good lawyer as DAMAC will inevitably try it on with every investor.

The health club and swimming pool are clear areas where DAMAC are not delivering the same level or better spec as required by the contract. Not sure how we calculate the loss of these facilities. Both were very important in my decision (pool for my young kids and inspirational health club for my middle aged spread!). I think I could have accepted the loss of the huge pool if only we had got something equally spectacular rather than what simply looks like the cheapest option possible for DAMAC to make maximum profits.

Anyone know whether DAMAC aims to run the management company after completion? Did they do this at Lake Terrace? The sooner we see the back of this dreadful company the better. I would be very keen for the management company to charge DAMAC market rates for any advertising they leave on the building!

Hi Flintbug,
I totally agree with your comments. I would like to state for the record, that DAMAC are being rather wishy washy with regards to the service charges in terms of cost? Do you or anyone else in this forum have a rough estimate how much the Service Charges are going to be in this block? I think we should all form an investor’s party and call it D.R.I.P (DAMAC RESIDENTS INVESTORS PARTY OR DAMAC REST IN PEACE) and request DAMAC waive the service charges payments for the next 24 months along with fair suitable compensation to investors? Whaddya say?

Hi Flintbug,
I totally agree with your comments. I would like to state for the record, that DAMAC are being rather wishy washy with regards to the service charges in terms of cost? Do you or anyone else in this forum have a rough estimate how much the Service Charges are going to be in this block? I think we should all form an investor’s party and call it D.R.I.P (DAMAC RESIDENTS INVESTORS PARTY OR DAMAC REST IN PEACE) and request DAMAC waive the service charges payments for the next 24 months along with fair suitable compensation to investors? Whaddya say?

Hello Paddystani,

In my contract the service charge is stated as 8 AED per sq ft. I like your suggestions about DRIP and waiving service charges.......except I say it should be waived for 4 years!!!

Hello Paddystani,

In my contract the service charge is stated as 8 AED per sq ft. I like your suggestions about DRIP and waiving service charges.......except I say it should be waived for 4 years!!!

Hi Nas001,
Thanks for the information. I should be receiving my contract within a week or so from DAMAC and hopefully the service charges will be the same as yours...Hmmm..You never know with DAMAC??

With Lake Terrace Damac handed out 12 different contracts all had different service charge fees dependant on when you signed the agreement. Good luck they are useless!

On my contract at Dubai Arch Tower it was 75 AED sq/meter annual when I signed in 2004. Then my developer wants us to sign an up dated contract with DMCC as master developer, since its not Naheels any more. In the new contract they raised the fees up to 120 AED sq/meter annual. When I talked to developer he said the fees are higher because of inflation, and if we dont pay the higher amount we wont have quality, which in some way is true. Its a catch 22, the original fees were selling points because in some way the developers gauranteed this before signing, but if you dont agree to pay more they dont care cause the building is'nt theres any more, they sold all the units, and they wont pay the extra charge from there pocket, they'll most likely let the building run its self down which is our problem, the investors. I've come to conclusion that its better to pay the extra charges, and keep your investment in top notch condition. Im not to happy with paying more, but then I appriciate my developer being straight with me, and telling me the way things are. One thing that comes to mind is what if some or most of the investors dont agree, could you imagine the mess we'll be in.

Micheal in Goldcrest view told me they pay about 150 AED sq/meter annual, so Im happy with 120 AED for ours.

Another interesting thing with DMCC is, and this mostly concerns people with two, or three bedrooms. You need to buy more than one parking space to have your apartment be registerd in the lands department one day. I could of fought the rule, but then I was stuck for time cause the parking spaces were getting more expensive by the moment, and what if I was fighting a losing battle. I signed an agreement to buy an extra space and locked in a price for 50,000 AED cause I heard some other places in JLT have already reached 75,000 -100,000 AED. No where in my original contract did it state I had to do this. My whole view on this was Im an investor in a foreign country, with all the money I paid so far, another 50,000 AED will change nothing at all for me, and it will let me sleep better a nights knowing DMCC is taken care of.

Its all a matter of being well informed, and this forum can help us all understand, and get threw these difficult situations easier, and better.

8 AED per sq/ft is 86 AED per sq/meter, typical at that time. Now your realistically looking at 11-14 AED per sq/ft or 120-150 AED per sq/meter. This is all annual by the way.

For those who dont understand the calculation, multiply maintenence fee by square feet, or meters depending on whats on your contract of your apartment, then divide by twelve, and that is your monthy payment.

Hello Paddystani,

In my contract the service charge is stated as 8 AED per sq ft. I like your suggestions about DRIP and waiving service charges.......except I say it should be waived for 4 years!!!

Hi Nas001,
Thanks for the information. I should be receiving my contract within a week or so from DAMAC and hopefully the service charges will be the same as yours...Hmmm..You never know with DAMAC??

Big tip......read the contract very carefully and compare to the original contract that was given to the original buyer. Almost certainly DAMAC will change every clause that improves the contract in their favour!! I suggest you keep firing it back at them until they give you the contract you bought.

I've just done the check myself about Lake Terrace:-

Imre reported the crane coming down on December 10th 2007.
Gujji reported getting his handover at the beginning of June 2008 which is the earliest reported handover I can see.

So we should expect 6 months from the time the crane disappears but remember that for Lake Terrace the period didn't include the summer working hours or Ramadan!

People from DAMAC have subtly changed their stance recently and are now being adamant that Lake View will definitely be completed this year. Where did 'completed this summer' disappear to??

Yes I expect to see the building completed this year but I won't be planning on cooking a turkey in the oven for Xmas!!

Possibly a bit of positive news now!! The latest photos from DAMAC show them working at tiling the swimming pool. When I checked back with IMRE's record for Lake Terrace they appeared to be at about the same stage on January 10th and handed over in early June. That would make 5 months to hand over but then the crane is still there for Lake View.....

Has anyone else identified any objective indicators of a prospective handover date?

Still hoping for Xmas but the big question is still which year!!!!

29/Aug/2008

Lake View

http://img172.imageshack.us/img172/2571/imresolt100kx8.jpg (http://imageshack.us)

http://img172.imageshack.us/img172/3483/imresolt101tc9.jpg (http://imageshack.us)

maybe good news, crane going down.

maybe good news, crane going down.

Imre, is the crane really coming down? The latest photos from Windspokesman show the base of the crane of Lake View still in place.

coming down , half way now.

Many thanks, Imre! You really are our eyes on the amazing development of Dubai.

I am a bit concern that the crane coming down so fast, the top floor cladding is not completed yet on the photos, how they can fix the glass panels??

Superman Involve?

BMI already there, they will use that one.

Latest construction update from DAMAC dated 7th September shows the crane still completely there.

I think I'll trust Imre on the crane!

Big tip......read the contract very carefully and compare to the original contract that was given to the original buyer. Almost certainly DAMAC will change every clause that improves the contract in their favour!! I suggest you keep firing it back at them until they give you the contract you bought.

Dear All,
I have just received my contract for Lake view this morning! I can confirm that I will be paying 15 AED per SQ FT. As advised by Flintbug, I will read my contract very very carefully and compare it with the original buyers contract:sly:
The completion date for Lake view is written as follows I quote,"anticipated completion date, 31st December 2008"!
I have a strong suspicion that this handover period could drag on till Febuary 2009!

I’ve just received a letter from DAMAC regarding Viewing & Inspection:

“Upon receiving the Occupation certificate from the relevant authorities, we will officially notify you of the Completion date/handover date of the units at Lake View.

We anticipate this will happen in the last quarter of 2008.
In the interim period, we wish to inform you that you will be able to view/inspect your unit(s) at the Lake View as per the following schedule: Units on the 2nd to the 20th floor – October 15th onwards; 20th to the 35th floor – November 1st onwards. Please be advised that an appointment needs to be booked with the CRM team for viewings/inspection.”

According to my contract:

“13.1 The Purchaser may at any time after the notice of the Completion Date, but before said Completion Date and on reasonable notice to the Seller, have access on one occasion only to the unit for the purpose of inspecting the Unit, provided it is in the sole opinion of the Project Consultant to do so.
...
13.4 During the abovementioned inspection the Seller and the Purchaser shall together complete a comprehensive list detailing any deficiencies, incomplete items or defects (the “Deficiencies”) in the Property. The Seller shall promptly attend to any and all remedial work required by an agreed date provided that the Purchaser shall not be entitled to hold back any portion of the Purchase Price in respect of the Deficiencies. In the event of any dispute arising in connection with the Deficiencies, a decision by the Seller’s Project Consultant shall be final and binding on the Parties.”

A couple of issues/questions:

- I have not yet been told the Completion Date so point 13.1 is invalid.
- What if the apartment is not in a sufficient state to be snagged (e.g. water not connected, a/c not connected, windows missing etc)? I should be entitled to another appointment at a later date (I'm in Dubai in November anyway so no problem visiting the apartment)
- I’m considering using a professional company to do the snagging. I don’t want to make an appointment for them (and be charged) only for the apartment not to be in a state of readiness for snagging.

Any advice/comments?

- I’m considering using a professional company to do the snagging. I don’t want to make an appointment for them (and be charged) only for the apartment not to be in a state of readiness for snagging.

Any advice/comments?

Reading some other threads about these issues, go alone and don;t pay anyone to de-snag as most likely the apartment would not have been finished and the money will go waste.

I’ve just received a letter from DAMAC regarding Viewing & Inspection:

“Upon receiving the Occupation certificate from the relevant authorities, we will officially notify you of the Completion date/handover date of the units at Lake View.

We anticipate this will happen in the last quarter of 2008.
In the interim period, we wish to inform you that you will be able to view/inspect your unit(s) at the Lake View as per the following schedule: Units on the 2nd to the 20th floor – October 15th onwards; 20th to the 35th floor – November 1st onwards. Please be advised that an appointment needs to be booked with the CRM team for viewings/inspection.”

According to my contract:

“13.1 The Purchaser may at any time after the notice of the Completion Date, but before said Completion Date and on reasonable notice to the Seller, have access on one occasion only to the unit for the purpose of inspecting the Unit, provided it is in the sole opinion of the Project Consultant to do so.
...
13.4 During the abovementioned inspection the Seller and the Purchaser shall together complete a comprehensive list detailing any deficiencies, incomplete items or defects (the “Deficiencies”) in the Property. The Seller shall promptly attend to any and all remedial work required by an agreed date provided that the Purchaser shall not be entitled to hold back any portion of the Purchase Price in respect of the Deficiencies. In the event of any dispute arising in connection with the Deficiencies, a decision by the Seller’s Project Consultant shall be final and binding on the Parties.”

A couple of issues/questions:

- I have not yet been told the Completion Date so point 13.1 is invalid.
- What if the apartment is not in a sufficient state to be snagged (e.g. water not connected, a/c not connected, windows missing etc)? I should be entitled to another appointment at a later date (I'm in Dubai in November anyway so no problem visiting the apartment)
- I’m considering using a professional company to do the snagging. I don’t want to make an appointment for them (and be charged) only for the apartment not to be in a state of readiness for snagging.

Any advice/comments?

Hi Toofif,

I agree with you that this is contrary to the contract terms unless it can be considered as an additional visit. From past experience I think this is a typical DAMAC tactic to avoid their contractual obligations as follows:-

1. You take up their kind offer to visit and inspect but find apartment not ready for desnagging.
2. When you get the completion date and request a visit for desnagging they refuse because you have already had your one visit
3. Because you have not raised and issues during desnagging they get away with loads of faults in the apartment at handover
4. You then spend months fighting with them to make your apartment liveable

Does anyone have experience from Lake Terrace?

If anyone wants me to 'view' their apartment, I would love to go visit the site between 21st - 26th Oct. Mine is on a higher floor and currently without glass so not even expecting it to be ready for 1st November.

Hi.
I have also received "Inspection and Viewing" letter from Damac. Would just like to now what points to look for during the visit? Maybe owners of Lake Terrace can help?
Also I hope that when Damac give an appointment date for inspection they have finished all maj work like utility connections, windows and doors etc!!!

I got the letter as well, this letter means absolutely nothing. It is just Damac being Damac, trying to get people to think that the project is nearer to completion then it actually is. I think people can remember the letter few months back saying it would be ready in Summer 2008!

Just cant beleive how brazen and full of s*** they are by talking about inspections.

Saying that still happy that an end is in sight probably March 2009 onwards for handover and that is me being optimistic.

http://www.zawya.com/story.cfm/sidZAWYA20081014103202/DAMAC%20Properties%20award's%20the%20elevator%20contract%20for%203%20of%20its%20Jumeirah%20Village%20South%20projects

Claims that Damac will deliver 563 units of Lake View Tower in 2008.

Some good news for the investors finally.:banana:

waiting for some update from any owner who has carried out the inspection...

No owner has done inspection of his apartment although it started 15 Oct onwards...??? Strange!!!

No owner has done inspection of his apartment although it started 15 Oct onwards...??? Strange!!!

I've tried formally but my apartment is on the higher floors which they say will only be ready for inspection from 1st November - I think that is way too optimistic since there is still a lot of missing glazing up there.

One thing I did pick up on is that they say they are doing these inspections until the end of December. I'll wander to the site this morning and see how I get on with just winging a visit.

It does look like they are finally getting their act together and going for completing this one but it definitely won't be ready this year. My optimistic guess is March for handover. They are only using the maintenance crane for the remaining windows and cladding and there is a lot still to do.

Any special requests for exterior photos? I'll try to get inside but not promising anything.

Thanks Flintbug. Actually mine is also on the higher (30th) floor...so any inspection done by any owner on the lower floors would give us a fair idea of finishing quality etc. Anway looking forward to any pics as Damac website updation for photos is so slow and monotonous.

Managed to get in today - surprised how easy it was in the end to do 'informally'. If anyone wants to try themselves, pm me and I'll let you in on the technique employed rather than tip off the rather relaxed DAMAC security.

Just waiting for a flight back to UK and will aim to post some pictures after I have had some sleep. Only used my mobile camera, so apologies in advance for the quality.

Overall the pics you've already seen from DAMAC are representative - there really isn't anything special to tell about the apartment internals. Not impressed by the shower base or bath - both look like someone made a cost saving decision.

Only studied the standard of tiling closely in the communal areas and it was atrocious - definitely one to look out for in your desnagging visits. Generally DAMAC have been true to form and put the gloss on the 'first impressions' communal areas. There is gym equipment in the two gym rooms on the ground floor, water in the pool and palms on the terrace. Made to look like ready for occupation but tons of work still to do if you can escape your guide.

It does seem that the floors below 20 are 'finished' as I couldn't hear sounds of any work and when I visited floor 16, all was apparently ready but in need of a good clean. Toofif - managed to get into your neighbours 2 bed on that floor and have some pictures. Floor 20 is all concrete surfaces and packed wit workers. Penthouses also just concrete and no real work going on up there when I visited. Floor 35 is no different to any of the other numbered floors so paying for a 'penthouse' on that level was probably a waste of money'. I have shots from floor 31 to give you an idea of the view Tuppu.

Seems to be all powered up but no air-con. Had to change shirts after my visit!

I think I might now revise my handover estimate to February unless you have a penthouse or 20th floor loft which both look miles off right now.

Pics to follow

Good work Flintbug, thanks for the update.

Sounds pretty much as expected. Hopefully we're looking at a handover early in 2009.

Looking forward to the photos.

I'm doing my snagging in November, so I'll report back my findings then.

Thanks for the update Flintbug. Great effort on your part. Waiting for the photos...

let me tell you all of these viists and inspection are just formalities , you will go and pay for agency to do your inspection now , they will go to your flat and they will not be able to perform proper inspetion , because finishing and power connection is still left . So it is just a waste of money and time .
moreover , next time you will ask for another visit they can reject , because owner has right to view his/her unit only once before hand over . So go for that visit in latest avaiable time , the real check up only can happen when you live in your flat at least for a few days while using water / electricity / AC .

I am the owner another flat in other tower in JLT and i have solid expereince on this issue . so take my advise and do not waste your time nad money :)

DAMAC temporary entrance
http://farm4.static.flickr.com/3181/2977391083_815e1159c6.jpg?v=0
Seems to be two levels of two storey penthouses at the top. Top penthouse has the curved area as its outside terrace
http://farm4.static.flickr.com/3230/2977390953_ac56e9f7b6.jpg?v=0
Lower level penthouse is next to the maintenance crane hoist
http://farm4.static.flickr.com/3227/2977390623_9ae75cc9b3.jpg?v=0

View from lower penthouse
http://farm4.static.flickr.com/3073/2977390447_c313731484.jpg?v=0
http://farm4.static.flickr.com/3275/2978246928_68d5297b5d.jpg?v=0
http://farm4.static.flickr.com/3214/2978246822_16ecc7c321.jpg?v=0

State of penthouses - no sign of any real work going on - all seems concentrated on 20th floor lofts.
http://farm4.static.flickr.com/3059/2977390175_baa3769551.jpg?v=0
http://farm4.static.flickr.com/3015/2978247396_b8a97d7f1f.jpg?v=0

Not my taste in bathrooms - bath and shower tray look like cost saving cheap choices - why couldn't they simply get a shower tray the size of the enclosure? Upper floors seem to be still incomplete in the bathrooms
http://farm4.static.flickr.com/3173/2977390101_be3d461d2b.jpg?v=0
http://farm4.static.flickr.com/3178/2977390011_a1cd735270.jpg?v=1225180203
http://farm4.static.flickr.com/3225/2977389945_6f348f59d3.jpg?v=0
http://farm4.static.flickr.com/3069/2978245774_69b91bbdf1.jpg?v=0

20th floor lofts being heavily worked on
http://farm4.static.flickr.com/3026/2977389361_5e785abb78.jpg?v=0
http://farm4.static.flickr.com/3154/2977389443_bfc8a842f0.jpg?v=0

Corner 1 beds - quite a lot still missing floor to ceiling glazing - no barriers and very scary!!
http://farm4.static.flickr.com/3167/2977389535_3ea57e14e0.jpg?v=0
http://farm4.static.flickr.com/3002/2978246244_8c6ca6ef94.jpg?v=0