Hi Imre once again great pictures thank you for your time. :cheers:

25/December/2007

Goldcrest Views 2

http://img507.imageshack.us/img507/6171/imresolt075fi3.jpg (http://imageshack.us)

http://img507.imageshack.us/img507/6271/imresolt076ek0.jpg (http://imageshack.us)

http://img178.imageshack.us/img178/1091/imresolt077uk9.jpg (http://imageshack.us)

http://img507.imageshack.us/img507/8045/imresolt078je9.jpg (http://imageshack.us)

Man, don't you rest, even for Xmas?
Cheers mate.

I do, just went to take some pics morning, visited the Burj Al Arab and Goldcrest Views:)

Merry Christmas!

Any info about asking for rental from the GCV-2 ?

this is too early, GCV-2 needs apr. 1 year for the completion, nobody knows the rent prices after 1 year..

but we can guess ad we will se later:)

studio 75-80.000/year
1 B/R 100-110.000/year

I think this is the minimum , maybe more ,why?

around the GCV2 will have lots of commercial towers , Almas Tower, Silver,Gold,Platinum,Mazaya Avenue,Saba, Amesco, JBC etc...so rent would be very easy there.

My contract says completion date in March 2008...!

same as mine but GC2 will not ready in March 2008 , I think end of 2008 -Q1 2009 is more possible.

compensation to investor after march 2008

08/January/2008

Goldcrest Views 2

http://img441.imageshack.us/img441/7627/imresolt015gz7.jpg (http://imageshack.us)

http://img441.imageshack.us/img441/5513/imresolt017rw5.jpg (http://imageshack.us)

http://img441.imageshack.us/img441/1609/imresolt022qt1.jpg (http://imageshack.us)

http://img441.imageshack.us/img441/2553/imresolt029mf9.jpg (http://imageshack.us)

http://img167.imageshack.us/img167/8289/imresolt031iz6.jpg (http://imageshack.us)

13/January/2008

Goldcrest Views 2

http://img136.imageshack.us/img136/7412/imresolt23vu0.jpg (http://imageshack.us)

http://img299.imageshack.us/img299/1055/imresolt24ft7.jpg (http://imageshack.us)

Thank you Imre for picture up date. Is gcv 2 toped out now?

welcome, yes topped out, coming the roof structure

Now that roof is comming up...any estimate for delivery date?

I was told by september 2008 lets hope sow.

more likely Mar 2009

I was in the office last week for paying the next payment, they said mid 2008 but I think we need minimum 1 year.

hi all
only just noticed this forum i have a studio at goldcrest 2.
i have tried to contact the developers to make my next payment but have received no reply .
i have tried emailing the ETA website and through emails i have received in the past but with no reply.
can anyone supply a email address of a contact regarding the next payment.
thanks
tony
frustrated gold crest owner.
ps.
the delay will be worth the wait (when are they filling the lake)

I think the next payment in January 2008, I paid in the new office.

they moved to the Hamarain Centre, next to the ETA Star office.

Try to write to Fadia maybe she knows their emails:

fadia@gigarealestate.com or fadia@gigagroup.com

the lake , I think just end 2008 or 2009, we have time:)

I'd be very wary of ETA when payments are due. I was told once that whatever interest is due on any late payments will be calculated on handover. Sounds to me like they can give any figure they like. Keep those receipts safe and try to pay on time. People who pay from overseas will be charged interest on when cheques are received, not when they are written, so it stands to reason that they will take their time.

thanks for the emails and advice given.
i look forward to the updated construction pictures.

Try ringing them if you dont get response to emails

thanks imre.
fadia returned my mail this morning.

another question will we be near a metro station.

thanks

Hi tony yes very close.:)

metro station and the Goldcrest Views 2

01/January/2008

JLT

http://img99.imageshack.us/img99/1636/imresolta02qf2.jpg (http://imageshack.us)

23/January/2008

Goldcrest Views 2

http://img250.imageshack.us/img250/9629/imresolt23du7.jpg (http://imageshack.us)

http://img250.imageshack.us/img250/4274/imresolt24bv8.jpg (http://imageshack.us)

Does anyone know if ETA Star/Giga/Goldcrest have an escrow account like the majority. I have emailed Fadia & she has said somebody will get back to me. You guessed.

23/January/2008

Goldcrest Views 2

http://img250.imageshack.us/img250/9629/imresolt23du7.jpg (http://imageshack.us)

http://img250.imageshack.us/img250/4274/imresolt24bv8.jpg (http://imageshack.us)
I am told that GCV-2 will be handed over by May of this year.
Any truth in that...?

I am told that GCV-2 will be handed over by May of this year.
Any truth in that...?

they will need extra workmen and a miracle to complete by may
I was told end of june by fadia only last week.
i believe the end of the year is more realistic.

yes, you right , May 2008 is impossible but May 2009 is ok:)

I would say we need a year.

Guys, I am planning on picking up a 2 bedroom - 927 sqft for 1.15M

PLEASE comment and let me know if this is a good price. I believe it is the one with the islands and golf course view.

PLEASE PLEASE appreciate your quick and honest opinion. Should I go ahead? Does it belong to any one of you only?

that is a small 2 bed but the price is good, if you have money buy it as soon as possible:)

there is no golf course just Jumeirah Island and Jumeirah Heights:)

Agreed. Any price below Dh 1200 psf at this stage has got to be a good deal.
G

This is 927 for 1150k, thats about 1240 psft and including the balcony. Go for it?

Agreed. Any price below Dh 1200 psf at this stage has got to be a good deal.
G

you can find cheaper one but the Goldcrest quality is vey good and in the future would be better.

Guys, I am planning on picking up a 2 bedroom - 927 sqft for 1.15M

PLEASE comment and let me know if this is a good price. I believe it is the one with the islands and golf course view.

PLEASE PLEASE appreciate your quick and honest opinion. Should I go ahead? Does it belong to any one of you only?

For 2bed is not an ideal price. Somewhere around 1m is fine as long as it takes another year to complete. Be aware that there 2 rows of building going to be constructed infront of it towards jumeirah island.

Honesty, where do you find 2 bed for 1 million in this area?

I think this is the cheapest because the size is smaller.

Honesty, where do you find 2 bed for 1 million in this area?

I think this is the cheapest because the size is smaller.
I have 2 bed room and approx 1120 sq feet falt on 20th floor.
what should I expect if I decide to sell it..?
Arshad

I asked the developer,they were advertising last year apr 1100-1150 dhs/sqft but I think sold out.
Price around 1200-1250 dhs/sqft , so maybe 1.3-1.4 million.

http://www.gowealthy.com/realestate/uae/dubai/goldcrestviews2/index.asp

SOLD OUT

http://www.gowealthy.com/realestate/uae/dubai/goldcrestviews2/index.asp

SOLD OUT
Thank You Imre,
I think I will hold on till the hand over.
My unit is fully furnishe so I should be able to get good price then.

06/February/2008

Goldcrest Views 2

http://img511.imageshack.us/img511/3893/imresolt23hj9.jpg (http://imageshack.us)

http://img292.imageshack.us/img292/3844/imresolt24yh4.jpg (http://imageshack.us)

Goldcrest Views was handed over on 7th of February,in my opinion is that the prices of the Goldcrest Views 2 increasing soon.:) ( and Goldcrest Executive as well)

Does anyone here know if Goldcrest/ETA/Giga now have an escrow account in place. I have asked by email several times to no avail.

Does anyone here know if Goldcrest/ETA/Giga now have an escrow account in place. I have asked by email several times to no avail.
I have tried several times by e mail and by phone, no body ever returns your call. I wanted to send my instalment. I don't have good feeling about this company

^^ they wont run away with the money... dont worry

No, that's not the problem with ETA. The problem is their talent for finding ways to ask for more money.

22/February/2008

Goldcrest Views 2

http://img153.imageshack.us/img153/9072/imresolt093jm3.jpg (http://imageshack.us)

http://img184.imageshack.us/img184/4576/imresolt094lw9.jpg (http://imageshack.us)

http://img153.imageshack.us/img153/7233/imresolt096lv0.jpg (http://imageshack.us)

http://img184.imageshack.us/img184/618/imresolt098fk4.jpg (http://imageshack.us)

Hi to all Goldcrest Views 2 owners thought you would like to see the email that i sent to Eta Star the other day.
The email concerns the CORPS Fund and my Sale Agreement which took them 2.5 years to send me. Having heard some of you mention that you also bought your properties back in 2005 and had contracts straight away which don't include CORPS funds i thought you might like to see this.
Please let me know your thoughts. I have taken out any personal info as im sure you can understand.

i would like to take my questions to someone more senior within ETA other that that of customer relations.
Does anyone know the contact details of a Director or MD of ETA?



Dear Eta Star

Further to my emails below I am very angry and disappointed that as of 17th February 2008 I have had no response to any of my emails dating back from Dec 2007!!

My questions to you are of a very important nature as they concern my Sale Agreement between myself and you ETA Star. I feel that this Sale Agreement has not been constructed correctly and therefore I being penalised for extra costs!

My questions to you for the 5th time, are as follows;

Firstly my Sale Agreement (Contract) that I was sent back in Dec 07 is not dated correctly. I originally purchased my flat back in May 2005 when I gave you a 10% deposit (I have receipt of this). Therefore I believe my contract should be dated May 2005 and not Dec 2007! It is also disgusting that it took you 2.5 years to send me any kind of contract!!!!

I have friends who have also bought properties from yourself back in MAY 2005 and they have contracts that are dated correctly (May 2005) and received them on paying their deposits!! Their contracts also have no mention on page 6 of a CORPS Fund, and mine does, which leads me to my second question.

WHY do I have this extra clause of having to contribute to a CORPS Funds? This CORPS Fund will cost me approximately an extra £8,157.00 to what I have already paid on purchasing this property. There was no mention of a CORPS fund when I first bought my property and if there had of been I wouldn’t have proceeded with this purchase.

Can you also please tell me why a CORPS fund (SINKING POLICY) is so costly on a brand new building? This is leading me to worry that construction may not be as secure as I was first led to believe?

I do not feel it fair that some customers have to pay this extra CORPS fund and others who got their contracts earlier do not.

The 2005 contracts also state that the completion date of Goldcrest Views 2 will be March 2008, where my contract dated Dec 2007 (which is wrong) states completion date of March 2009, I assume you have done this to avoid paying compensation for late completion.

I am very angry that I do not have the correct contract and therefore you seem to be penalising me with extra costs. Why should I be penalised for you sending me my contact 2.5 years late!!!

Therefore I want my contract to be dated properly according to when I purchased my property in May 2005 and the Terms & Conditions that were set out then.

If I do not have answers to my question’s within 7 days from now I will be taking this matter higher within ETA Star and talking to my solicitor. Please respond to this email address
I look forward to your speedy response.

Regards a very angry and frustrated

P.s I have also been informed that there are 3 more towers being built around Goldcrest Views 2 which aren’t in your original sales brochure please can you confirm?. I can only assume there will no longer be the promised views of Jumeriah Islands like I was led to believe by you sales brochure and sales rep who promised me there would be no other buildings blocking our views!!


And this is the sad response i got... sounds like a response from a UK MP!!!


Dear Sir,

With reference to you’re below mail, we apologies for the delay in reply, however the query regarding the sale and purchase agreement is are below:

As regards the date mentioned in the agreement (i.e.04th Dec 2007) is the date on which we have prepared the agreement, however we cannot process the agreement based on the back date.


2 Regarding the corpus fund, it is collected for all customers.

Corpus fund:

Corpus fund is the initial contribution of the Apartment owner to the Apartment owner’s Association. It’s a one time payment kept for ‘future capital expenditure’ and the same is maintained by the Building Owner’s Association. The issues like where to invest the corpus fund and if interest accrues shall be decided by the Owner’s association from time to time. The Constitution of the Home Owner’s Association gives the power to the association to decide on utilization and investment of the fund. If the customer sells the flat the same shall be obtained from the new buyer.

As per the construction date is concerned; we expect the completion by the end of July 2008, in the old sale & purchase agreement, the construction date may be different, since there is a delay in the project, we have revised the payment schedule accordingly.

regards

Ass Customer Relations

Hi to all Goldcrest Views 2 owners thought you would like to see the email that i sent to Eta Star the other day.
The email concerns the CORPS Fund and my Sale Agreement which took them 2.5 years to send me. Having heard some of you mention that you also bought your properties back in 2005 and had contracts straight away which don't include CORPS funds i thought you might like to see this.
Please let me know your thoughts. I have taken out any personal info as im sure you can understand.

i would like to take my questions to someone more senior within ETA other that that of customer relations.
Does anyone know the contact details of a Director or MD of ETA?



Dear Eta Star

Further to my emails below I am very angry and disappointed that as of 17th February 2008 I have had no response to any of my emails dating back from Dec 2007!!

My questions to you are of a very important nature as they concern my Sale Agreement between myself and you ETA Star. I feel that this Sale Agreement has not been constructed correctly and therefore I being penalised for extra costs!

My questions to you for the 5th time, are as follows;

Firstly my Sale Agreement (Contract) that I was sent back in Dec 07 is not dated correctly. I originally purchased my flat back in May 2005 when I gave you a 10% deposit (I have receipt of this). Therefore I believe my contract should be dated May 2005 and not Dec 2007! It is also disgusting that it took you 2.5 years to send me any kind of contract!!!!

I have friends who have also bought properties from yourself back in MAY 2005 and they have contracts that are dated correctly (May 2005) and received them on paying their deposits!! Their contracts also have no mention on page 6 of a CORPS Fund, and mine does, which leads me to my second question.

WHY do I have this extra clause of having to contribute to a CORPS Funds? This CORPS Fund will cost me approximately an extra £8,157.00 to what I have already paid on purchasing this property. There was no mention of a CORPS fund when I first bought my property and if there had of been I wouldn’t have proceeded with this purchase.

Can you also please tell me why a CORPS fund (SINKING POLICY) is so costly on a brand new building? This is leading me to worry that construction may not be as secure as I was first led to believe?

I do not feel it fair that some customers have to pay this extra CORPS fund and others who got their contracts earlier do not.

The 2005 contracts also state that the completion date of Goldcrest Views 2 will be March 2008, where my contract dated Dec 2007 (which is wrong) states completion date of March 2009, I assume you have done this to avoid paying compensation for late completion.

I am very angry that I do not have the correct contract and therefore you seem to be penalising me with extra costs. Why should I be penalised for you sending me my contact 2.5 years late!!!

Therefore I want my contract to be dated properly according to when I purchased my property in May 2005 and the Terms & Conditions that were set out then.

If I do not have answers to my question’s within 7 days from now I will be taking this matter higher within ETA Star and talking to my solicitor. Please respond to this email address
I look forward to your speedy response.

Regards a very angry and frustrated

P.s I have also been informed that there are 3 more towers being built around Goldcrest Views 2 which aren’t in your original sales brochure please can you confirm?. I can only assume there will no longer be the promised views of Jumeriah Islands like I was led to believe by you sales brochure and sales rep who promised me there would be no other buildings blocking our views!!


And this is the sad response i got... sounds like a response from a UK MP!!!


Dear Sir,

With reference to you’re below mail, we apologies for the delay in reply, however the query regarding the sale and purchase agreement is are below:

As regards the date mentioned in the agreement (i.e.04th Dec 2007) is the date on which we have prepared the agreement, however we cannot process the agreement based on the back date.


2 Regarding the corpus fund, it is collected for all customers.

Corpus fund:

Corpus fund is the initial contribution of the Apartment owner to the Apartment owner’s Association. It’s a one time payment kept for ‘future capital expenditure’ and the same is maintained by the Building Owner’s Association. The issues like where to invest the corpus fund and if interest accrues shall be decided by the Owner’s association from time to time. The Constitution of the Home Owner’s Association gives the power to the association to decide on utilization and investment of the fund. If the customer sells the flat the same shall be obtained from the new buyer.

As per the construction date is concerned; we expect the completion by the end of July 2008, in the old sale & purchase agreement, the construction date may be different, since there is a delay in the project, we have revised the payment schedule accordingly.

regards

Ass Customer Relations
I think this is a 3rd class organization. I have tried e mailing several times with no response. When I call them,I keep getting transfered to a person who transfers me to another and so on. But now I am stuck cause I have paid almost full amount and they have used the deposit money of all who purchased the apartments to start other developements and don't care about the previous ones. I think the best thing is to organize a group of all purchasers and take legal action.

Firstly, I thought the corpus fund was something to do with a competition the developer was running to pay for an apartment someone had won. Secondly, there is no way the completion will be by
July 2008, more likely 1st quarter of 2009.

Firstly, I thought the corpus fund was something to do with a competition the developer was running to pay for an apartment someone had won. Secondly, there is no way the completion will be by
July 2008, more likely 1st quarter of 2009.
Corpus fund , if it was declared prior to any contract of purchase , and mine did not even mentioned any thing about corpus fund, should be a monthly on going charge and not a lump sum charge at the time of hand over.

Firstly, I thought the corpus fund was something to do with a competition the developer was running to pay for an apartment someone had won. Secondly, there is no way the completion will be by
July 2008, more likely 1st quarter of 2009.

Hi laguna,
That was my theory, and I'm sticking to it. I had to hand my contract back in for minor modifications back in 2006, when I got it back, wallop! An extra 20,000Dh had effectively been added to the price, in the form of the Initial Corpus Fund.
Still well pi**ed off with that one, but I think ETA are one of the best of a very bad bunch.

Hi laguna,
That was my theory, and I'm sticking to it. I had to hand my contract back in for minor modifications back in 2006, when I got it back, wallop! An extra 20,000Dh had effectively been added to the price, in the form of the Initial Corpus Fund.
Still well pi**ed off with that one, but I think ETA are one of the best of a very bad bunch.

Hi Gormandy and Laguna please read my post 301
I agrea with Arshad LEGAL ACTION IS NEEDED

No chance in my case, signed and sealed, I'm afraid.
Besides, I don't have any faith in ANYTHING in this country working in favour of the customer.
Sorry.

I agree, no point taking legal action. I'm just glad the tower is getting built unlike others and if anything GV1 is to go by then GV2 should be a quality finish. Even if you add the extra amount of the corpus fund to the final price, one should recoup on selling...that's the way I'm thinking of it.

is that 10th floor they are upto????

Would any body give me an idea of cost to furnsh 2 bed room flap in GCV-2

I need to know the cost to furnish 2 bed room apt. in GCV-2.

I need to know the cost to furnish 2 bed room apt. in GCV-2.

ARSHAD GO BACK TO PAGE 231

i have a studio in goldcrest 2 .
i too have been receiving poor customer services but having seen goldcrest 1 i am confident that the finished building will be worth the long wait.
dubai is a medium to long term investment for me and there will be serious money to be made once dubailand arrives with the holiday rentals following.
if this fails then we have a forecast that the population will swell and there will be a shortage of quality prime position property.
back to the poor customer services i know people in spain who have had property taken off them with no compensation not to mention bulgaria that is run by the mafia.
this will never happen in goverment backed dubai although i agree the delay and poor service is wrong.
i am confident the wait will be worth it

Having looked at the DMCC site, their map of JLT shows a "Juma Mosque" right beside GCV2.
What exactly is a Juma Mosque, anyone know?
Hope it isn't too loud!

Hi
can you please paste the link here

Thanks


Having looked at the DMCC site, their map of JLT shows a "Juma Mosque" right beside GCV2.
What exactly is a Juma Mosque, anyone know?
Hope it isn't too loud!

http://www.dmcc.ae/en/free-zone/location/location.html

There are a total of 3 juma mosque located in jlt area.

juma means friday.

Friday? Oh, OK. Why's that then? Only on Friday's?
I thought it was to do with architecture, like the one in Baku.

Any news about GCV-2 completion ?
Arshad

The wife and I tried to persuade the safety officer to give us hardhats and have a look at our studio on the third floor. No, was the answer. We asked one of the consultants, one of MANY onsite, and he told us July.
Methinks not :ohno:

^^Realistically it should be end of this year.

I think Q1 2009 is more realistic for the handover.

05/March/2008

Goldcrest Views 2

http://img165.imageshack.us/img165/3315/imresolt13rg6.jpg (http://imageshack.us)

http://img511.imageshack.us/img511/5444/imresolt14gk0.jpg (http://imageshack.us)

http://img165.imageshack.us/img165/3013/imresolt53oh6.jpg (http://imageshack.us)

http://img165.imageshack.us/img165/4304/imresolt54ft3.jpg (http://imageshack.us)

Thank you v much IMRE FOR UP DATE GREAT PICS

07/March/2008

from the Jumeirah Park

http://img205.imageshack.us/img205/5296/imresolt004ff3.jpg (http://imageshack.us)

site is very busy , more than 700 workers there.
fnishing is very good ,good job of tiling, quality materials good contractor,Al Meraikhi (MEP contractor is the BK Gulf ,same as the GV).
Bathroom is similar than the Goldcrest Views , kitchen tiles different but good quality.

I am happy , will be good value:)

08/March/2008

Goldcrest Views 2 , site visit

http://img396.imageshack.us/img396/577/imresolt32px2.jpg (http://imageshack.us)

http://img186.imageshack.us/img186/845/imresolt33sm5.jpg (http://imageshack.us)

http://img357.imageshack.us/img357/1876/imresolt35zg0.jpg (http://imageshack.us)

08/March/2008

Goldcrest Views 2

my apartment, 9th floor

http://img396.imageshack.us/img396/8083/imresolt05jo3.jpg (http://imageshack.us)

http://img186.imageshack.us/img186/9452/imresolt07cf0.jpg (http://imageshack.us)

http://img119.imageshack.us/img119/9423/imresolt08rs7.jpg (http://imageshack.us)

http://img374.imageshack.us/img374/9531/imresolt10cj0.jpg (http://imageshack.us)

http://img357.imageshack.us/img357/3813/imresolt14yy1.jpg (http://imageshack.us)

http://img373.imageshack.us/img373/7013/imresolt15sz6.jpg (http://imageshack.us)

http://img119.imageshack.us/img119/2152/imresolt18rg5.jpg (http://imageshack.us)

http://img373.imageshack.us/img373/541/imresolt19kh9.jpg (http://imageshack.us)

08/March/2008

Goldcrest Views 2

view from the 9th floor

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

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

http://img357.imageshack.us/img357/2140/imresolt03td3.jpg (http://imageshack.us)

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

08/March/2008

Goldcrest Views 2

studio apartment, 9th floor

http://img119.imageshack.us/img119/4021/imresolt20pb5.jpg (http://imageshack.us)

http://img373.imageshack.us/img373/171/imresolt21qh1.jpg (http://imageshack.us)

08/March/2008

Goldcrest Views 2

mock-up apartment, will be ready soon

http://img357.imageshack.us/img357/8682/imresolt22mi3.jpg (http://imageshack.us)

http://img374.imageshack.us/img374/5948/imresolt23td6.jpg (http://imageshack.us)

http://img357.imageshack.us/img357/1206/imresolt24vt3.jpg (http://imageshack.us)

http://img373.imageshack.us/img373/922/imresolt27lo6.jpg (http://imageshack.us)

http://img396.imageshack.us/img396/5645/imresolt28xj2.jpg (http://imageshack.us)

http://img374.imageshack.us/img374/6366/imresolt29dq2.jpg (http://imageshack.us)

08/March/2008

Goldcrest Views 2

http://img357.imageshack.us/img357/7608/imresolt30bv3.jpg (http://imageshack.us)

http://img186.imageshack.us/img186/9558/imresolt31el9.jpg (http://imageshack.us)

HI Imre

This is not fair how did you manage to get into the building:ohno::ohno:

Gormandy tried going there but he couldn't

The wife and I tried to persuade the safety officer to give us hardhats and have a look at our studio on the third floor. No, was the answer. We asked one of the consultants, one of MANY onsite, and he told us July.
Methinks not.

If he see's these pics he will start going :nuts::nuts:

Great pics as usual from you.

Never mind, I forgot my camera anyway!
Thanks Imre. By the way, I thought studios stopped on the 8th floor. Do you know which type of studio the pix are? Square footage?

site visite was easy, I called the Star Giga office and said I have an apartment there and I would like to see the size, view, finishing etc...and after I got the contact person details and went to the site.
This is the official way.

Anytime I could visit the Goldcrest Views and I can go to Ajman (Goldcrest Dreams ) as well.

If the developer is good this is never problem.

Studio pics from the 9th floor , JI side has many studios, I dont know the exact size but I guess around 400 sqft.

If it's anyone who should get access to building site's then it's Imre, the rest of us are just by-standers!

Are these Apt. furnished when they are handed over?

Are these Apt. furnished when they are handed over?
NO

Any guess on the cost to furnish a 2 bed room apt?

good progress of the cladding, 18/march/2008

http://www.flickr.com/photos/imresolt/sets/72157604152052268/

Imre,
flickr's blocked. Can you post them on the board?
G

Goldcrest Views 2 Friday 28th March

http://img166.imageshack.us/img166/9497/goldcv2dz3.jpg

I have been offerred around 482000aed (in my pocket) for my 12th floor studio, is this a fair price or shall I hang on?

Tidy sum, but I think it's worth more than that. A quick scan of the Gulf News Freehold sections will tell you that studios in JLT are rated at AED500,000+. I've got AED600,000 in my head as a price I'd be well happy to accept, though that might be pie in the sky.

I have been offerred around 482000aed (in my pocket) for my 12th floor studio, is this a fair price or shall I hang on?

good premium but I wouldnt sell now, 482,000 is too cheap..

just think , if you have 482,000 , what can you buy for that money?
-studio in the International City?
-something off plan in the Jumeirah Village,Dubai Sports City , Dubailand etc..?
-Dubai Lagoon?
-Emirates City , Ajman?

If you dont need the money just wait the handover ( around a year) and after you will get 650-700,000 dhs or more.

rent is 75-80,000/year in the Goldcrest Views, GCV2 studios are smaller but the rent price would be same.(very good location ,close to the Almas Tower and many office towers, like Gold , Silver etc..)

Hi guys, its Zagreb, Im just using my company name noir-dresses.com

About your studio, My developer from Dubai Arch JLT told me yesterday that they sold a studio recently for 750,000 AED, crazy, so yes you can defenatly get alot more for your studio

Take care, and good luck



good premium but I wouldnt sell now, 482,000 is too cheap..

just think , if you have 482,000 , what can you buy for that money?
-studio in the International City?
-something off plan in the Jumeirah Village,Dubai Sports City , Dubailand etc..?
-Dubai Lagoon?
-Emirates City , Ajman?

If you dont need the money just wait the handover ( around a year) and after you will get 650-700,000 dhs or more.

rent is 75-80,000/year in the Goldcrest Views, GCV2 studios are smaller but the rent price would be same.(very good location ,close to the Almas Tower and many office towers, like Gold , Silver etc..)

I am looking to buy a studio or a small one bed, if anyone is interested in selling. Thanks

Hello

I have been looking through the forum and there seems to be a different opinion on the completion date for the development. ETA are saying June on the website and yet I read postings that believe it will be end of 08, or the start of 09.

I wonder if there is a definitive date that can be verified by the developer so that purchasers of units can be sure for their planning purposes.

Also, having looked at the Goldcrest Views forum they appear to have a contact in place for the regulatory side of the completion giving the relevant details for land registry etc. There is also the issue of the residency visas which I have not seen any information. Grateful if anyone from ETA can advise on these queries.

Many thanks

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Any updates on completion date? Anyone care to hazard a guess?
Imre?

March 2009 at the earliest

I would say 1 year from now the building should be done i.e. May 2009. But given delays related to getting the necessary approvals from the authorities, etc. I would say handover in Q3 2009. This is based on my experience with other towers in JLT. Just being pragmatic.

Compensation to buyer will be payable for any delay after Mar 2009

hi all
i have purchased a studio at goldcrest views 2.
i want to release some equity for my next investment,does anyone know of any banks who offer this service.
i have paid 90% of my installments from equity in my uk proerty.
thanks

Any updates on completion date? Anyone care to hazard a guess?
Imre?

it will be ready Q1 2009, but not sure about the handover.

Compensation to buyer will be payable for any delay after Mar 2009
Is compensation clause mentioned in the contract...?

Is compensation clause mentioned in the contract...?

Yes

8/May/2008

JLT,Goldcrest Views and Goldcrest Views 2

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15/May/2008

Goldcrest Views 2

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Looking for a studio or 1/BR direct from owner in Gold Crest Views 2. No realtors please
Pls email details on imran_11x@yahoo.com

Looking for a studio or 1/BR direct from owner in Gold Crest Views 2. No realtors please
Pls email details on imran_11x@yahoo.com


^^can you pls move this question to the PROPERTY & INVESTMENT THREAD :)

Does anyone have the idea what the gap which is near the 15th floor is for?

Unable to understand what it is :)

mechanical floor

Is that a lot of disturbance and noise ?

do you have the same in goldcrest view 1 ?

Is the 15th floor above mechanical or below the mechanical floor please let me know :)

Thanks

Does anyone have the idea what the gap which is near the 15th floor is for?

Unable to understand what it is :)

That's a secret level. Only those with a secret key can access it via a secret elevator :)

Is that a lot of disturbance and noise ?

do you have the same in goldcrest view 1 ?

Is the 15th floor above mechanical or below the mechanical floor please let me know :)

Thanks
Mechanical floor is 16th

That's a secret level. Only those with a secret key can access it via a secret elevator :)


^^sounds exciting any clue what the secret is ?:)

^^sounds exciting any clue what the secret is ?:)

I can't tell you because I don't have a secret key!

^^Guys pl tell me

what so you have in mechanical floor

is it going to be noisy all the time ?

pl clarify my ques:)
thanks

what so you have in mechanical floor
is it going to be noisy all the time ?


Only those who possess secret keys know how noisy it will be, because a secret generator was built using secret technologies!

Has there been any news on the tower in plot J1?
It's getting up there and a launch now would be very interesting investing!
G

Sorry, I meant plot J2.
A

Hi!

Does someone think about selling one or two studios? I would be very interested in buying it!

Regards,
Mehdi
+971-50-1607017

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Shouldn't GCV2 be classified as topped out now? Certainly looks like it.

What is the usual time between topped off and delivery of the building.

What is the usual time between topped off and delivery of the building.
HOW LONG IS A PEACE OF STRING.

????

USUALLY 1 YEAR

Went to the office and spoke to Parveen she is insisting that it will be finished by December 2008. Having seen it I'm not so sure. I got right up to the front door of the building and the lobby hasn't been started - a lot of interior finishing to do still, although the outside looks good.

Spoke to Parveen about Corps fund, she tells me that apparently this cheque won't be cashed unless they have agreed with you first - the association will hold a meeting to determine the useage of the cash and that they have agreement from the owners association. If you sell your apartment you get your cheque back and the new buyer writes this cheque out again. Hope that is some help on the corpus fund.

I've got some uptodate pictures (5th July), see the link below. Abdulla from ETA kindly took us around and got us into Goldcrest Views 1 and the Palladium. Didn't see you Imri! :)

Goldcrest Views 2
http://flickr.com/photos/28549079@N04/sets/72157606145329439/

What is this Corps Fund?

What is this Corps Fund?

READ YOUR CONTRACT PAGE SIX.

There is no mention of this in my contract and my contract says the completion to be before June of 2008....
Arshad

Hi to all Goldcrest Views 2 owners thought you would like to see the email that i sent to Eta Star the other day.
The email concerns the CORPS Fund and my Sale Agreement which took them 2.5 years to send me. Having heard some of you mention that you also bought your properties back in 2005 and had contracts straight away which don't include CORPS funds i thought you might like to see this.
Please let me know your thoughts. I have taken out any personal info as im sure you can understand.

i would like to take my questions to someone more senior within ETA other that that of customer relations.
Does anyone know the contact details of a Director or MD of ETA?



Dear Eta Star

Further to my emails below I am very angry and disappointed that as of 17th February 2008 I have had no response to any of my emails dating back from Dec 2007!!

My questions to you are of a very important nature as they concern my Sale Agreement between myself and you ETA Star. I feel that this Sale Agreement has not been constructed correctly and therefore I being penalised for extra costs!

My questions to you for the 5th time, are as follows;

Firstly my Sale Agreement (Contract) that I was sent back in Dec 07 is not dated correctly. I originally purchased my flat back in May 2005 when I gave you a 10% deposit (I have receipt of this). Therefore I believe my contract should be dated May 2005 and not Dec 2007! It is also disgusting that it took you 2.5 years to send me any kind of contract!!!!

I have friends who have also bought properties from yourself back in MAY 2005 and they have contracts that are dated correctly (May 2005) and received them on paying their deposits!! Their contracts also have no mention on page 6 of a CORPS Fund, and mine does, which leads me to my second question.

WHY do I have this extra clause of having to contribute to a CORPS Funds? This CORPS Fund will cost me approximately an extra £8,157.00 to what I have already paid on purchasing this property. There was no mention of a CORPS fund when I first bought my property and if there had of been I wouldn’t have proceeded with this purchase.

Can you also please tell me why a CORPS fund (SINKING POLICY) is so costly on a brand new building? This is leading me to worry that construction may not be as secure as I was first led to believe?

I do not feel it fair that some customers have to pay this extra CORPS fund and others who got their contracts earlier do not.

The 2005 contracts also state that the completion date of Goldcrest Views 2 will be March 2008, where my contract dated Dec 2007 (which is wrong) states completion date of March 2009, I assume you have done this to avoid paying compensation for late completion.

I am very angry that I do not have the correct contract and therefore you seem to be penalising me with extra costs. Why should I be penalised for you sending me my contact 2.5 years late!!!

Therefore I want my contract to be dated properly according to when I purchased my property in May 2005 and the Terms & Conditions that were set out then.

If I do not have answers to my question’s within 7 days from now I will be taking this matter higher within ETA Star and talking to my solicitor. Please respond to this email address
I look forward to your speedy response.

Regards a very angry and frustrated

P.s I have also been informed that there are 3 more towers being built around Goldcrest Views 2 which aren’t in your original sales brochure please can you confirm?. I can only assume there will no longer be the promised views of Jumeriah Islands like I was led to believe by you sales brochure and sales rep who promised me there would be no other buildings blocking our views!!


And this is the sad response i got... sounds like a response from a UK MP!!!


Dear Sir,

With reference to you’re below mail, we apologies for the delay in reply, however the query regarding the sale and purchase agreement is are below:

As regards the date mentioned in the agreement (i.e.04th Dec 2007) is the date on which we have prepared the agreement, however we cannot process the agreement based on the back date.


2 Regarding the corpus fund, it is collected for all customers.

Corpus fund:

Corpus fund is the initial contribution of the Apartment owner to the Apartment owner’s Association. It’s a one time payment kept for ‘future capital expenditure’ and the same is maintained by the Building Owner’s Association. The issues like where to invest the corpus fund and if interest accrues shall be decided by the Owner’s association from time to time. The Constitution of the Home Owner’s Association gives the power to the association to decide on utilization and investment of the fund. If the customer sells the flat the same shall be obtained from the new buyer.

As per the construction date is concerned; we expect the completion by the end of July 2008, in the old sale & purchase agreement, the construction date may be different, since there is a delay in the project, we have revised the payment schedule accordingly.

regards

Ass Customer Relations

HI ARSHAD PLEASE READ

16/July/2008

Goldcrest Views 2

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more JLT and some Marina pics here:

http://www.flickr.com/photos/imresolt/sets/72157606216838497/

I saw the sample apartment , looks good.

I think the quality is even better than the Goldcrest Views.

Try to go back soon for taking some pics.

prices around 1700-1900 dhs/sqft here, would be more than 2000 dhs on completion.

http://i38.tinypic.com/nbxmoy.jpg

http://i35.tinypic.com/6zu1yo.jpg

No buying and selling allowed

I saw the sample apartment , looks good.

I think the quality is even better than the Goldcrest Views.

Try to go back soon for taking some pics.

prices around 1700-1900 dhs/sqft here, would be more than 2000 dhs on completion.

Imre, what's the procedure for having a look at the sample pad? Permissions from ETA needed, or just turn up on site?
G

developer has few units for sale, price is around 2300 dhs/sqft

3707 2 BEDROOM Jumeriah Islands View 1122.47 sqft 2,581,681

3808 2 BEDROOM Jumeriah Islands View 1122.47 sqft 2,598,518

40% now, 60 % on handover

they had 2 more units but already sold out.

if the price 2300 now , what will be happening after the handover??

I think the cost/sqft is too high, and it is the top of the market now.

The Views, Fairways & Links are 2000 -2100 dhs/sqft, and it is much more developed areas, whereas JLT still have years to come! Lake completion on 2010, and retail shops not even starting yet...

still difficult to compare, JLT will be one of the best business-residential area in Dubai , and probobly will be complete before than the Business Bay, Dubai Marina,DIFC,Burj Downtown etc...

GC2 is going to be one of the best tower there.

Hi I recently purchased one of the smaller studios and after receiving the new contract ETA has decreased the size by about 3% - As a purchaser, who has bought the property and made calculations based on the size which was in the seller's contract - isn't it quite unfair that they have reduced it by 3% in my contract? Appreciate if anyone has any thoughts on this or any advice on what I could do...

Thanks!

Hi I recently purchased one of the smaller studios and after receiving the new contract ETA has decreased the size by about 3% - As a purchaser, who has bought the property and made calculations based on the size which was in the seller's contract - isn't it quite unfair that they have reduced it by 3% in my contract? Appreciate if anyone has any thoughts on this or any advice on what I could do...

Thanks!

Have you sign the new contract??

In normal circumstances, the contract should state the size of apartment before / after the design revision, then the purchase price should be adjusted accordingly. It is worth to question the developer, as the orginal contract clearly identified the sqft is intended for your studio.

I still think JLT have a long way to go, it will remain to be a big construction site for a long time. Maybe the market correction come 1st before all the JLT towers / Lakes is completed.

29/Aug/2008

Goldcrest Views 2

with this speed we should talk about 2010 soon, Goldcrest Executive as well.

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I think the ETA Star group are more focussed on the Ajman developments. I visited GCV2 this last week and actually went into my apartment. The first 15 floors are somewhere near ready. However, there still seems to be a lot of work left. The person I met from Giga mentioned that Dec 08 is still the target. I doubt it.

Anyway as per the contract the longstop date is Mar 09 which means that ETA Star have violated their contract beyond this date.

I tried to go in yesterday, the watchman said permission from ETA was needed.
Grrrrrrrr!

Any educated guess to the completion time and ready to handover?

I guess it will be next year March, judging by the finishes in lobby is not completed, and the crane is still up and doing some remaining cladding works.

March could be optimistic, judging by the slowdown in activity.
BTW, called Reem Parveen today about visiting the sample apartment, she said visits had been cancelled during Ramadan. An email to her about appointments can sort the issue after Ramadan.

Developer said end of 2008 or Jan 2009 which is almost impossible.

I thought I will have a key in Marc 2009 but as I see the slow progress I expect just mid 2009.

The date keeps getting later and later.
I hope I get the flat in 2009....some times in 2009
Arshad

Anyway as per the contract the longstop date is Mar 09 which means that ETA Star have violated their contract beyond this date.

My contract states Mar 09 as the longstop date but Sept 09 as the "ultimate longstop date". I think compensation kicks in after this date, so they are really in no hurry.

bugger, so the compensation kick in after Sept 09?? Well... they don't have the incentive to finish early then...

My contract states Mar 09 as the longstop date but Sept 09 as the "ultimate longstop date". I think compensation kicks in after this date, so they are really in no hurry.

That's strange, I recently purchased a unit there and my contract says "ultimate longstop date" is March 2009.

MY SALE AGREEMENT (CONTRACT) PAGE 1 AND 2
LONGSTOP DATE 31/12/2008
ULTIMATE LONGSTOP 31/03/2009
ETA HAVE HAD A YEAR EXTRA TIME TO COMPLETE THAY CAN NOT CHANGE CONTRACT AGAIN :ohno:

I am not an owner to the dvelopement yet, maybe very soon!!

Can someone look at the stop date and clarify what does it mean "ULTIMATE" in the contract?

When do they mean by stop?? Hope it is not stop working :p

Really, we need some contractual clarification to the completion date, and the owner should be able to claim for LAD (Liquid Ascertain Damages) to the developer..

I agree, we should demand rental compensation.
My contract says March 2009 as the long stop date.....!

Sorry to panic everyone, mine says the longstop date is Sept 2008 and ultimate longstop date is Mar 2009. :hammer:

I am not an owner to the dvelopement yet, maybe very soon!!

Can someone look at the stop date and clarify what does it mean "ULTIMATE" in the contract?

When do they mean by stop?? Hope it is not stop working :p

Really, we need some contractual clarification to the completion date, and the owner should be able to claim for LAD (Liquid Ascertain Damages) to the developer..

ULTIMATE MEANS COMPLETION AFTER 31 /03/2009
SELLER (ETA STAR ) HAS TO PAY COMPENSASHION = INTREST ON MONEY
PAYED FROM BUYER :lol:

check your INBOX

No Advertising here

Compensation is definite if delayed after Mar 2009, but I would rather have a delay than an apartment which is not properly finished and not suitable to live in

http://www.etastar.com/ETASTAR_CMS/images/Picture/1009gcv2image1.jpg
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http://www.etastar.com/ETASTAR_CMS/images/Picture/1009gcv2image3.jpg
:)

JUST BACK FROM DUBAI
VERY SLOW PROGRESS RHAMERDAM I GUESS BUT HAVE TAKEN ONE TOWER CRANE DOWN. LETS HOPE IT SPEEDS UP AGAIN

http://i35.tinypic.com/fm2hqr.jpg

Hi All,

I'm a new poster so be gentle with me :-)

I purchased a studio in Goldcrest 2 in November 2005. And a studio in Goldcrest Executive in December 2005. So I've now waited patiently for a long time to see progress on these towers.

The Ultimate Long Stop dates in my contracts are 30/6/2008(!) for GC2 and 31/12/2008 for GCE.

I guess that means I'm already owed compensation for GC2? And pretty close to the same for GCE.

If anybody has any input or suggestions before I contact Star Giga and find out where I stand, please feel free to let me know.

Lee.

Here's the terms of my contracts :-

13.1 Except for any delay by an event of force majeure, if the Buyer has fulfilled all of his obligations of payment and the Seller is unable to deliver vacant possession of the unit by the Long Stop Date, the Seller shall pay interest to the Buyer on all the payments made by the Buyer, from the Long Stop Date until the date that possession of the unit is offered to the Buyer by the Seller.

13.2 If the giving of vacant possession of the unit is delayed beyond the Ultimate Long Stop Date, the Buyer may, on a written notice to the Seller, terminate this agreement and upon termination the seller shall return all payments made by the Buyer within 60 days from the date of the written notice, along with Interest calculated from the date each payment was made.

I've paid all payments except one on GC2 and 40% on GCE. The dates in my contract are :-

GC2 - Long Stop = 31/3/2008 / Ultimate Long Stop = 30/6/2008
GCE - Long Stop = 30/6/2008 / Ultimate Long Stop = 31/12/2008

I've had no amendments to my contracts through and have not signed anything so I guess Star Giga are still responsible and accountable for these delays.

^^HI WELCOME PLEASE READ THREAD 380 PAGE 19
HOPE THIS IS OF SOME HELP
KIND REGARDS ANDY.

^^HI WELCOME PLEASE READ THREAD 380 PAGE 19

Sorry for the dumb question - but how do I find thread 380?

Sorry for the dumb question - but how do I find thread 380?

we are on page 21 at mow thread number is top right hand side ^^ 415

Can anyone tell me if they have been contacted from Goldcrest regarding Law number 13 of 2008 for registering the property with Dubai Land Dept? I know it is 1% but how do we go about paying this (even though we should be paid compensation) Ive heard nothing from Goldcrest on this. Can anyone help?

I haven't heard from them. Too early, isn't it?

Any thoughts on asking asking for compensation now...

its impossible, we dont know the completion date , how can we ask anything?

anyway, they will give nothing.

Has anyone spoken to Eta Star about what is an anticipated completion date now? Is Mar 2009 realistic? Or is it more like summer 2009?

Maybe instead of compensation one can opt to have a reduction in the corpus fund payment??

That will reduce your reserve fund..

Any news about increased activity now that the the Ramazan is over ?

Was there at the weekend. The fins are now in progress. I'm scheduled for a visit this coming weekend, we'll see what they say.

I saw the sample apartment , looks good.

I think the quality is even better than the Goldcrest Views.

Try to go back soon for taking some pics.

prices around 1700-1900 dhs/sqft here, would be more than 2000 dhs on completion.

How Can I arrange a viewing for my apartment, they said they have stopped booking people for viewings now? has anyone managed to get one and who did you speak too ?

Thanks

Call ETA, ask for Reem Parveen. They only let 5 people in per day, apparently. It was stopped during Ramadan, should be OK now. I'll take a million pix if I get in this weekend. Fingers crossed.

Pix taken Oct 18.
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1509.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1510.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1511.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1512.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1516.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1517.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1518.jpg[br] This is the showflat, no cooker is provided.
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1519.jpg[br]
http://i424.photobucket.com/albums/pp325/baboonfez/DSCN1520.jpg

Gormandy, thank you very much for the photos.
Is this a studio flat you photographed?
Did ETA Star tell you an estimated completion date?

Yes, the mess is my studio and the cleaned-up one was also a studio, but bigger.
They referred me to the ETA office for completion dates. From the looks of it, though, March 09 will be an achievement. The activity was minimal around the site, mostly on the carpark.

From the pics, looks like a long way to go yet before completion

I can't see the pictures ?

Come on, Im referring to the photos posted by gormandy:bash:

Are these flats being delivered furnished.....?
I had mine specialy furnished per my contract.
I wonder if any other sale was furnished...

Been to the site yesterday.

spoke to couple of engineers they said work is pretty slow.

consider lucky if this gets completed in 6 months.

I cannot see Gormandy's pictures, just a red x sign appears where the pics are suppose to be ? Not sure why that is - I really want to see what it looks like!!!!! :)

gb805680, I've just PMed you with a link.
See if that works.
G

Yes, the mess is my studio and the cleaned-up one was also a studio, but bigger.
They referred me to the ETA office for completion dates. From the looks of it, though, March 09 will be an achievement. The activity was minimal around the site, mostly on the carpark.

If you dont mind me asking, what is the size of your studio? Mine is 382 Sqft so was wondering whether it is the same.

Don't mind at all. Mine is Studio Type 5, 397sqf. To be honest, I was kind of shocked at the size. The floorplan doesn't give you an accurate picture at all, full of midget furniture, if you know what I mean.
Mine has quite a big balcony, which takes up a lot of the sq footage. Finishing was nice, though, especially the bathroom.
What about you?

Been to the site yesterday.

spoke to couple of engineers they said work is pretty slow.

consider lucky if this gets completed in 6 months.


Why is that? Too hot? Not enough workers? Out of cash? Lack of motivation?

Gormandy - Mine is Studio type 1. The person who I bought it from, in his contract it said the size is 393 sq ft. In my contract it says 382sq ft. I am a little concerned that it will be extremely small!! From your pictures though the finishing does look very good. Just wish they were a little bigger!

Hi guys, I have been trying to get hold of someone at ETA to arrange a visit to GCV2 and I am being told that viewings are not available until the show apartment is ready. But you guys are saying you have been on visits! I called ETA today and asked to speak to Reem Parveen and they said they have never heard of that person. Please advise me, I'm going around in circles!:nuts:

I was a bit confused over the name too. Just the name "Parveen" seems to yield better results....

Hi guys, I have been trying to get hold of someone at ETA to arrange a visit to GCV2 and I am being told that viewings are not available until the show apartment is ready. But you guys are saying you have been on visits! I called ETA today and asked to speak to Reem Parveen and they said they have never heard of that person. Please advise me, I'm going around in circles!:nuts:

^^welcome to skyscrapercity.

If you are in dubai, just go the site and walk into it as you know the place very well, dont act like a stanger.

climb upto the 3rd floor and you will find the show apartments there.Be Courteous to the workers there they will help you.

Good Luck :)

He did not tell me any reason but surely lack of motivation.

There was no sense of urgency from eta star is what i feel.

Thank you for your suggestions. I guess I will just turn up and get in somehow. I have been calling and emailing Parveen and she is blatantly ignoring me.

He did not tell me any reason but surely lack of motivation.

There was no sense of urgency from eta star is what i feel.


well maybe they are in the mood to pay out compensation after march 2009

^^propably a dinner set:)

Does anyone know if there is a risk of other buildings spoiling the views from GCV 2? I was living in the Marina until recently and it seems they will put up a new building anywhere they can find a gap. Do you think that this is a possiblity at JLT? Because there is quite a large gap between GCV 2 and the edge of the lake so that could increase the risk.

To give you guys a quick update, I visited the site today to see my apartment on the 13th Floor - quality is great but looks like it will be a while before it is ready. I spoke to one of the engineers from the main contractor and he didn't look very positive when I asked if it would be ready by march 09 - he hinted mid next year although he did not directly say that.

Does anyone know if there is a risk of other buildings spoiling the views from GCV 2? I was living in the Marina until recently and it seems they will put up a new building anywhere they can find a gap. Do you think that this is a possiblity at JLT? Because there is quite a large gap between GCV 2 and the edge of the lake so that could increase the risk.

JLT is master development projects, all the towers should built in the location according to the plan. The location of all the infrastructue including roads, metro, lakes etc are done in the planning stage, and developers must comply with their boundary.

For the GCV2, the crane is still up next to the tower, and they still have 1 month to go for the said completion date...

Why don't they come clean...?

I know the south side (not facing Bonnington, other side) is facing the Al Attar towers, Vue De Lac +2. Those are going nowhere, so the view on that side will be dust for a long while. On the plus side, we may see the lake beyond!

I was a bit confused over the name too. Just the name "Parveen" seems to yield better results....

Parveen, is the sales coordinator with ETA, You can contact her for an appointment to view the GC2 for the apartment you own

I did that last week, was a bit of confusion at the building site, since the site guys communication problem with the office, but gets sorted out ,,,,

How is the real estate market doing in dubai..?

The freehold section in Gulf News doesn't show much change, but word of mouth stories are spreading. One example, today my friend at work told me he has a friend (yes, third hand info!) with a 3 bedroom Palm apartment, who can't get rid of it for even 2.5 million.

It will take time for it to recover but Dubai's population is still growing which will help sustain rental returns. Then again, im not the perfect analyst!

^^propably a dinner set:)

Any news from GCV-2..?

Bumped
Can anyone tell me if they have been contacted from Goldcrest regarding Law number 13 of 2008 for registering the property with Dubai Land Dept? I know it is 1% but how do we go about paying this. Ive heard nothing from Goldcrest on this. Can anyone help?

Too early, I think. I was at the site today, not much going on, but it was 5:30. Will post a pic later tonight. You can judge for yourself.

Has any one got to the top to see how pool is getting on may be all workers are up there:lol:

http://i424.photobucket.com/albums/pp325/baboonfez/DSC00158.jpg

http://i424.photobucket.com/albums/pp325/baboonfez/DSC00157.jpg

Thank you for great pics :cheers:lets hope thay are working inside now

Thanks for nice pics.
From what I see, it will be another 9 to 12 months for the handover.

That's depressing. Upside is that we won't be faced with last payment, silly maintenance charges and Carter Hayes as our tenant any time soon.
With any luck the current global mess will have passed and we can sell our units on, if we want. That's what I'm hoping, anyway.

HI
I HAVE HAD EMAIL FROM PARVEEN AFTER SENDING HER EIGHT
SAYING HAND OVER WILL BE MARCH /APRIL 2009 WILL POST EMAIL FROM HER SOON

ANDY

HI
I HAVE HAD EMAIL FROM PARVEEN AFTER SENDING HER EIGHT
SAYING HAND OVER WILL BE MARCH /APRIL 2009 WILL POST EMAIL FROM HER SOON

ANDY

Thank you Andy for posting such an optimistic post! I REALLY hope that the handover will happen in April 2009. We have waited long enough...

DEAR SIR


WITH REFERENCE TO YOUR EMAIL. MY APOLOGIES FOR THE DELAYED REPLY TO YOUR MAIL THE DIFFICULTIES FACED DUE TO THE EXPECTED DELIVERY OF GOLD CREST VIEWS 2. WE WOULD LIKE TO INFORM YOU THAT WE EXPECT THE PROJECT TO BE COMPLETED BY MARCH / APRIL 09 AFTER WHICH WE WILL BE ABLE TO HAND OVER THE POSSESSION TO YOU. THERE HAVE BEEN VARIOUS REASONS FOR THE DELAY IN CONSTRUCTIONS IN DUBAI DURING THE LAST YEAR AND BESIDES THE HIGH RISE IN COSTS OF CONTRACTORS BILLS AND DIFFICULTIES INPROCURING RAW MATERIALS. WE HAVE HAD TO FACE THE DELAYS ON THE INFRASTRUCTURE FRONT IN THE JLT COMMUNITY.

HOWEVER WE ARE IN PROCESS OF DOING THR INTERNAL FINISHING. SO WE EXPECT THE POSSESSION BY MARCH/APRIL 2009. SUBSEQUENTLY WE WILL BE SENDING THE INFIMATION FOR THE EXACT DATE OF HANDING OVER SOON. WE ARE MAKING ALL EFFORTS TO ENSURE THAT THE PROJECT GETS COMPLTETED SOON.

THANK YOU FOR YOUR PATIENCE AND UNDERSTANDING OF THE SITUATION.


KIND REGARDS
FATHIMA PARVEEN.

DEAR SIR

HOWEVER WE ARE IN PROCESS OF DOING THR INTERNAL FINISHING. SO WE EXPECT THE POSSESSION BY MARCH/APRIL 2009. SUBSEQUENTLY WE WILL BE SENDING THE INFIMATION FOR THE EXACT DATE OF HANDING OVER SOON. WE ARE MAKING ALL EFFORTS TO ENSURE THAT THE PROJECT GETS COMPLTETED SOON.

THANK YOU FOR YOUR PATIENCE AND UNDERSTANDING OF THE SITUATION.


KIND REGARDS
FATHIMA PARVEEN.

Realistically speaking, looking at the pics not before August/September 2009
:bash:

March, april, september....not much difference...as long as its finished properly.

The later the better, I reckon, the way the rental market is going. :bash: Don't want to pay huge fees for an empty flat, or end up stuck with below market rent for 3-5 years.

Yep need to delay now because of market conditions and those fees involved with the corpus fund.

Very considerate of ETA, I'd say, lol

Ratings agency puts ETA Group on credit watch - by John Irish (arabianbusiness.com)

Ratings agency Standard & Poor's put Dubai-based ETA Group on negative watch on Thursday with a view to downgrading its credit rating due to concerns over the construction and property-dominated firm's increased leverage.

Standard & Poor's placed the firm, whose property division has a $10 billion portfolio, on CreditWatch with negative implications with long-term BBB- corporate credit rating, the ratings agency said in a statement.

It also put a 'BBB-' debt rating on a $300 million senior unsecured bank loan due 2012 issued by subsidiaries Emirates Trading Agency, ETA Star Holdings, and Associated Construction and Investments Co.

The potential downgrade to junk rating is the latest indication Dubai-based companies are feeling the squeeze from tighter lending conditions, a fall in property prices and a collapse in investor confidence as the global credit crunch begins to sweep across the Gulf Arab region's trading hub.

"These actions are due to concerns over increasing financial leverage, the likely adverse effect of the continuing global economic slowdown on ETA's cyclical activities, and low levels of headroom under financial covenants," said Standard & Poor's credit analyst Stuart Clements.

ETA's construction unit is the sixth largest UAE contractor, according to a survey by London-based MEED magazine.

Its real estate arm ETA Star Properties said in October it planned to sell Islamic bonds worth up to $200 million in the first quarter of next year to fund expansion in North Africa and Europe and was planning to develop residential and office towers in the Russian capital Moscow with a value of $600 million next year.

"ETA's debt levels have risen significantly in recent years to meet increasing working capital demands from both higher commodity prices and the company's rapid growth in revenue," S&P said.

The group also operates in mechanical engineering, car trading and shipping - all sectors "considered to be highly sensitive to economic conditions".

"The recent collapse in prices in the dry bulk shipping market (81 percent of ETA's fleet), of about 90 percent from the 2008 peak, may put pressure on some of its time charter counterparties and lead to some renegotiations," S&P said.

S&P will conclude the CreditWatch within 90 days.

ETA Star executive director Abid Junaid could not immediately be reached for comment. (Reuters)

http://www.arabianbusiness.com/539026-ratings-agency-puts-eta-group-on-credit-watch

Good job the building is near completion, probably wont affect GV2

is there anyone who has paid less than 90% in installements???

Ratings agency puts ETA Group on credit watch - by John Irish (arabianbusiness.com)

http://www.arabianbusiness.com/539026-ratings-agency-puts-eta-group-on-credit-watch

Developer is the Star Giga (JV between ETA Star and Mazyood Giga) , behind them is the Al Ghurair Group which is the owner of the Mashreqbank and many others companies, so hopefully they can finish everything:)

I guess everyone got this? Still claiming March.
http://i424.photobucket.com/albums/pp325/baboonfez/ETA_new_ad.gif

What is the price on these units thru the developer...?

The developer is asking a price of 1800/sq ft

And where in the world the amazing finance plan would be? 30% down payment and 70% mortgaged? thank you very much!!!!!

i think the developer is asking 2600 per sq feet for stuidio

yes, 2300-2600 dhs/sqft, 30 % downpayment , 70 % loan from the ADCB , Mashreqbank or Dubai Islamic Bank..

28/November/2008

Goldcrest Views 2

http://img254.imageshack.us/img254/5206/imresolt198fc2.jpg (http://imageshack.us)

http://img360.imageshack.us/img360/8161/imresolt201ap6.jpg (http://imageshack.us)

it looks it will still take one more year

yes, 2300-2600 dhs/sqft, 30 % downpayment , 70 % loan from the ADCB , Mashreqbank or Dubai Islamic Bank..

Seems unrealistic when we have units available in the market for AED 1600 per sq. ft. ETA Star wake up :bash:

12/December/2008

Goldcrest Views 2

http://img258.imageshack.us/img258/8346/imresolt81yq0.jpg (http://imageshack.us)

http://img264.imageshack.us/img264/1041/imresolt82bq8.jpg (http://imageshack.us)

http://img258.imageshack.us/img258/7981/imresolt87mx5.jpg (http://imageshack.us)

12/December/2008

JLT

http://img184.imageshack.us/img184/4691/imresolt88ly9.jpg (http://imageshack.us)

Today I saw the sample apartments again, very good quality probably one of the best at the JLT site.

Developer still says handover in March 2009 but I dont think so. I expect just in mid-end 2009, we will see.

What was the mode of entry, Imre? Wander in looking landlordish, or by appointment? I thought only one visit was allowed prior to completion.

I met with Fadia when I paid my PDC bills and asked her about the visit.

Unfortunatelly, not allowed to take pics there.

I hope I am wrong and will be handed over soon:)

What is PDC bill...?

Palm District Cooling , AC fee of Goldcrest Views 1

Palm District Cooling , AC fee of Goldcrest Views 1

Hi Imre,
is this a monthly fee? i assume this may also apply to GCV2. can you say how much this fee is? i thought the service charge which is 8-10 AED per sq ft coverd this.

service charge is 15 dhs/sqft , +monthly AC is around 300 dhs

GCV 2 will be similar

service charge is 15 dhs/sqft , +monthly AC is around 300 dhs

GCV 2 will be similar

thanks for the prompt responce. this was something i had not account for. are there any other surprises? whats the rental market out there like now. and what will a studio rent for? any info will be appericated. thanks

nothing surprise, studio is around 80-90K /year , 1 bed 120-140K

IMRE,
What about rent for 2 bed rooms...?

160-200k depends on the size

Selling prices, for studios at least, are coming down fast, according to Gulf News today. One studio is going for 590,000, another for 600,000.
How low can they go???
G

depends on the seller, maybe they need money or just got panic:)

Original price was 240-280K , so still good.

Original price was 240-280K , so still good.

I know, but from a high of approx 800K it's got to hurt!
"Greed works." (Gekko, 1987)

590-600K is very good price, great rental income.