#TOPPED OUT: LAGUNA TOWER, 40F Hotel + Res, 153m, Plot A2 [Archive]

Dubai-Lover

January 31st, 2005, 12:44 PM

cool

and here's the official press release

IFA Hotels and Resorts launches US 100 million dollar, Laguna Tower at Jumeirah Lakes
IFA Hotels & Resorts, a wholly owned subsidiary of Kuwait's International Financial Advisors and the main investor on The Palm, Jumeirah, will launch its 100 million dollar residential Laguna Tower in Nakheel's Jumeirah Lakes at the Property Investment Show, which runs at the Dubai World Trade Centre from February 1-3.

http://www.ameinfo.com/images/news/5/11555-laguna.jpg
The shape of things to come: IFA’s Laguna Tower at Jumeirah Lakes

The 40-storey Laguna Tower, which will be operated on IFA's behalf by a five-star hospitality provider, will house a mix of luxury one, two and three bedroomed apartments and penthouses as well as promenade level shops, restaurants and offices. The sale of apartments, begin immediately with penthouse sales due for release later in the year.

'Investment in this flagship tower is another gesture of our confidence in both Dubai and Nakheel, which is behind some of the most innovative projects in the emirate,' said James Wilson, President and Chief Operating Officer, IFA Hotels & Resorts.

'And as a further show of confidence in the Dubai real estate market, we have created a special investor package for our existing client base.'

Laguna Tower construction will start in August this year and is due for completion by the third quarter of 2007.

'We anticipate strong apartment sales due to a three-tier rental administration programme for investors,' added Wilson.

Under the programme, to be provided by the hospitality operator, Laguna Tower investors can rent apartments either furnished or unfurnished. The unfurnished option comes with a long term rental. The two furnished options offer medium-to-long term leases or short term rentals where the owner receives returns based on occupancies.

'The short-term furnished option also delivers substantial flexibility to owners, allowing them to use the property when it isn't rented out,' explained Wilson. 'This can produce significant returns for investors with demand for short-term accommodation in Dubai increasingly on the rise.'

IFA has appointed award-winning, US-based RNL architects to design the Laguna Tower. RNL is the name behind some of the world's leading residential projects including those in California's Hamilton Cove and Heritage Village, Singapore's Duchess Condominiums and Kuala Lumpur's City Centre.

The waterfront Laguna Tower will have a fully-equipped amenities deck complete with two swimming pools - a leisure pool, which will be part of the recreational club and a lap pool, which will be in a state-of-the-art private gymnasium and health club open to membership.

Apart from rental administration, investors will also benefit from IFA's inclusive post-purchase offering which includes apartment servicing, maid and child care facilities, concierge and butler services as well as secure underground parking for 440 vehicles. The apartments will also be equipped with high speed internet access with special 'future technology-ready' features as well as cable TV, telephones and security systems.

'Owners and their tenants will receive a service on a par with most five-star offerings, which is now a hallmark of IFA,' added Wilson.

The Laguna Tower is a further boost to IFA's already substantial investment in Dubai's rapidly developing real estate and hospitality market. The company has invested US $800 million in The Palm, Jumeirah – the largest private investment in the island to date – where it is creating, in partnership with Palm developer, Nakheel, the prestigious Golden Mile residential and shopping destination.

'With Laguna Tower sales, we will be looking to repeat the outstanding success we achieved with the Golden Mile when more than 780 freehold apartments were sold within just 48 hours of the offer opening,' said Wilson.

Dubai-Lover

January 31st, 2005, 12:45 PM

and it also says 40 floors here

SA BOY

January 31st, 2005, 12:49 PM

Ill ammend but am confused by the render, Also Architects are RNL architects in Denver the URL doesent work ( http://www.rnldesign.com )but maybe a mail to cheryl.gouronc@rnldesign.com ????

Trances

January 31st, 2005, 12:54 PM

but each of these could be write ups from the same source

ahmedr

January 31st, 2005, 02:29 PM

The architect's website IS working and look what I found: http://www.rnldesign.com/Projects/Urban/Burj.htm#

SA BOY

January 31st, 2005, 05:41 PM

wow, looks impressive

Dubai-Lover

January 31st, 2005, 11:10 PM

contacted rnl for height

SA BOY

February 1st, 2005, 05:33 AM

thanks mate

Trances

February 2nd, 2005, 03:39 AM

that will sort it out
if they reply in good time

Dubai-Lover

February 2nd, 2005, 01:08 PM

yippie they replied within one day :eek:

Dear Mr. Hartmann,

Thank you for your interest in The Laguna Tower & indeed IFA Hotels & Resorts. With regards to your enquiry, I can confirm that the official height of the tower in question will be 152,5 m.

Should you require any further information or have any queries, please do not hesitate to contact me personally.

Kind Regards,

Simon Bridges

IFA HOTELS & RESORTS FZ-LLC www.ifahotelsresorts.com

Dubai Media City

Boutique Office , Villa No.6,

P.O.Box 502164, Dubai

United Arab Emirates

Tel:+971-4-3912022

Fax:+ 971-4-3664644

Mob: + 97150 5599036

Email: simon@ifahotelsresorts.com

Trances

February 2nd, 2005, 01:12 PM

oh wow that was fast
152.5 m. not to bad at all
but no way yet to clear up the floor count !

Dubai-Lover

February 2nd, 2005, 01:30 PM

i've read somewhere it has 3 floors of car parking and every news article said 40

SA BOY

February 3rd, 2005, 07:41 AM

All JLT buildings have 3 basement levels, Its doe by Nakheel as they are doing all the infrastructure and basements.
Good news on the heights, just wish other companies were as forthcomming with info

AtlanticaC5

March 4th, 2005, 08:46 PM

I like this tower, the and shape color is nice

malec

November 16th, 2005, 12:26 AM

Massive render:

http://www.emediawire.com/prfiles/2005/04/28/234593/Lagunaperspective41229.jpg

Dubai-Lover

November 20th, 2005, 04:00 PM

IFA - Moevenpick launch Hotel-Residence

IFA Hotels & Resorts, a wholly owned subsidiary of Kuwait's International Financial Advisors has launched its hotel ownership program with sales of its first internationally branded hotel residence project in Dubai, the Moevenpick Hotel & Residence Laguna Tower Dubai.

The Moevenpick Hotel & Residence Laguna Tower Dubai will be managed by the renowned Swiss hotel chain Moevenpick Hotels & Resorts, following the formation of a partnership between IFA Hotels & Resorts and Moevenpick Hotels & Resorts to identify and develop hotel residence projects throughout the Middle East in addition to Europe, India, Asia and Africa, for additional opportunities of this new branded investment product.

IFA has developed an innovative property investment vehicle that combines ownership with a guaranteed minimum return and strong capital growth potential. This concept allows investors to buy a fully furnished, five-star branded hotel residence, with rental pool system to give the owner the security of a guaranteed return of 8% per annum for the first 3 years plus 30 days complementary use per year, all managed by a five star International Hotel operator.

'The introduction of the Moevenpick Hotel & Residence Laguna Tower Dubai ownership program confirms our commitment to offering world class resort developments for different segments of the international market. Our continued strategy of forging strong partnerships with world-class Hotel Companies is seen in our agreement with Moevenpick Hotels & Resorts, to ensure that we continue to bring the highest levels of hospitality standards to the industry,'

said Werner Burger, President & COO, IFA Hotels & Resorts.

'Moevenpick Hotels & Resorts are delighted to partner with IFA in this exciting new venture and are committed to deliver the highest standard of quality and service to the Moevenpick Hotel & Residence Laguna Tower Dubai, ensuring that owners and guests can be guaranteed five-star service all year round,' said Andreas Mattmueller, Senior Vice President Middle East Moevenpick Hotels & Resorts.

Hotel residence ownership reduces the risk in owning, managing and renting a property and it offers buyers peace of mind, as well as the means to be a part of Dubai's two biggest growth industries - hospitality and property.

'IFA's new ownership program represents a unique opportunity for mid-tier investors to participate in hotel ownership, which has previously been the domain of high net-worth individuals. The hotel residence model is well established in more mature hotel markets such as the US and South Africa, however we are seeing an emergence of this type of product coming into the region. Investing in this type of programme is an attractive alternative for investors wishing to diversify their residential and commercial property portfolios, with the added benefit of getting some personal usage out of the investment', commented Patrick Smith, Vice President Asset Management, IFA Hotels & Resorts.

Moevenpick Hotel & Residence Laguna Tower Dubai, which comprises private residences as well as 120 hotel rooms, provides all the comforts and amenities synonymous with a world-class development. Built in a commanding location, the modern designed 40-storey Tower gives several apartments and hotel rooms' splendid lake and sea views, as well as landscaping, children's play area and direct access to waterside walkways. State-of-the art technology will provide residents and visitors with 'smart' living and the Tower will incorporate a health club, gymnasium, swimming pool, jacuzzi, elegant reception area, 24-hour security and basement parking, in addition to a range of M?pick-operated restaurants and retail outlets.

Investors will own a part of the dynamic Dubai hospitality sector in a premier location, with a higher than average return on investment.

• Owner buys freehold hotel residences;

• Ownership of hotel room, including furniture & fittings packages;

• Owner receives income and up to 30 days usage per year;

• IFA guarantees Owner 8% return per year for 3 years;

• Capital value increases in line with hotel performance;

• 4 fully furnished room types available - Executive, Superior, Deluxe & Suite.

Moevenpick Hotels & Resorts, which manage 53 hotels and 12,500 rooms in 19 countries, is known for its heartfelt hospitality, uncompromisingly high product and service quality, and is set to ensure that the Moe?pick Hotel & Residence Laguna Tower Dubai will stand out as one of the landmarks of the Jumeirah Lake Towers development.

Talal Jassim Al-Bahar, Chairman & Managing Director, IFA Hotels & Resorts, stated,

'This latest move reinforces the Company's strategy in that, the M?pick Hotel & Residence Laguna Tower Dubai is a further commitment to IFA's mission to deliver an outstanding network of international managed resorts across the globe. IFA is known for its innovative and market leading development concepts, demonstrated through its resorts in Portugal, Dubai, South Africa, Lebanon and Zanzibar.'

dubaiflo

November 20th, 2005, 05:07 PM

so this will be another moevenpick. interesting.

Dubai-Lover

December 12th, 2005, 07:24 PM

IFA launches hotel ownership plan

IFA Hotels & Resorts has launched its first hotel ownership program, the Movenpick Hotel & Residence Laguna Tower Dubai.

The new property ownership concept enables purchasers to buy a hotel room or suite on a freehold contract, receive 30 days usage a year, and benefit from a rental income, as the rest of the inventory is handed over to Movenpick to operate as a five-star hotel.

The Movenpick Hotel & Residence Laguna Tower Dubai, due to begin construction by the end of the year, will offer 120 hotel rooms and suites, as well as a host of traditional hotel amenities, including restaurants and bars, health club, swimming pool, and retail outlets.

“This is the first time that a branded freehold hotel product has been available in Dubai,” said Werner Burger, president & COO, IFA Hotels & Resorts, at the press launch. “There’s a need for a buyer to invest in a product like this,” he added.
Owners will receive up to 30 days to use at the hotel when they wish per year, and will be guaranteed an 8% return on investment for the first three years, Piaras Moriarty, director of IFA’s Palm Vacation Club, explained to Hotelier Middle East. After the first three years, owners will receive an annual share of net room profits from the hotel.

“IFA’s new ownership program represents a unique opportunity for mid-tier investors to participate in hotel ownership, which has previously been the domain of high net-worth individuals. The hotel residence model is well established in more mature hotel markets such as the US and South Africa, however, we are seeing an emergence of this type of product coming into the region. Investing in this type of programme is an attractive alternative for investors wishing to diversify their residential and commercial property portfolios, with the added benefit of getting some personal usage out of the investment,” commented Patrick Smith, vice president asset management, IFA Hotels & Resorts.

The Movenpick Hotel & Residence Laguna Tower Dubai will be managed by the Swiss hotel chain following the formation of a partnership between IFA Hotels & Resorts and Movenpick Hotels & Resorts. The two companies plan to develop hotel residence projects throughout the Middle East, Europe, India, Asia and Africa; markets they see offer additional opportunities of this new branded investment product.

IFA, which already has hotel and timeshare projects in Lebanon, Portual, Tanzania and South Africa, as well as an interest in the Golden Mile on The Palm, is also considering the set up of an internal exchange system to enable members to use other resorts.

“We will see similar products coming up,” confirmed Burger. “We are making a big effort to formulate the information to educate the buyers. It will be a new product, so it is important to take a broad view of how this works in other parts of the world.”

IFA claims hotel residence ownership reduces the risk in owning, managing and renting a property and it offers buyers peace of mind, as well as the means to be a part of Dubai’s two biggest growth industries — hospitality and property.

“Mövenpick Hotels & Resorts are delighted to partner with IFA in this exciting new venture and are committed to deliver the highest standard of quality and service to the Mövenpick Hotel & Residence Laguna Tower Dubai, ensuring that owners and guests can be guaranteed five-star service all year round,” said Andreas Mattmüller, Senior Vice President Middle East Mövenpick Hotels & Resorts.

Krazy

February 7th, 2006, 11:15 AM

Talk about a good investment oppurtunity

New Investment in 5 star 'branded' Hotel Residence in Dubai

Mövenpick Hotels & Resorts has signed an agreement with IFA Hotels & Resorts to introduce a 5 star branded hotel residence in Dubai, U.A.E.

http://www.ameinfo.com/images/news/1/21571-LagunaTower.jpg

It is the first independent hotel investment project in the Middle East. The Mövenpick Hotel & Residence Laguna Tower Dubai is scheduled to open in 2008 and offers a total of 120 Hotel rooms as well as additional 296 suites and apartments.

IFA Hotels & Resorts, a subsidiary of International Financial Advisors in Kuwait, has pioneered the innovative property investment concept which guarantees individual owners a minimum return and substantial potential for capital growth. The concept of the residence hotel project enables investors to purchase a fully fitted, fully furnished room or apartment which will yield a guaranteed return of 8% in the first three years and may be used free of charge for 30 days in the year. Following the three year guaranteed return, individual investors will receive an annual profit share equal to 50 % of the room revenue.

The 40 storey Mövenpick Hotel & Residence Laguna Tower Dubai, offers both 296 private suites and apartments and 120 comfortable hotel rooms with lake and sea views, in prime Jumeirah location. True to Mövenpicks' world class hospitality brand, the hotel will have a business centre, state of the art meeting facilities, fitness centre, swimming pool and whirlpool, a multi-storey car park as well as a variety of retail boutiques and trademark Mövenpick cuisine served in variety of themed restaurants.

'The introduction of the branded hotel residence ownership program confirms our commitment to offering world class resort developments for different segments of the international market. Our continued strategy of forging strong alliances with world-class partners is seen in our strategic alliance with Mövenpick Hotels & Resorts, to ensure that we continue to bring the highest levels of hospitality standards to the industry', said Werner Burger, President & COO, IFA Hotels & Resorts.

'The venture with IFA Hotels & Resorts is an honour for us and offers great potential for the future', says Andreas Mattmüller, Senior Vice President Middle East Mövenpick Hotels & Resorts. 'The Mövenpick Hotel & Residence Laguna Tower will be the eighth Mövenpick Hotel within Dubai, and here too, we will guarantee our guests and investment partners 5-star service and the highest standards of quality renowned by Mövenpick Hotels & Resorts worldwide.'

worried1

May 28th, 2006, 06:56 AM

Any one know the construction status of this building?

azurkiyeh

June 6th, 2006, 01:43 PM

the building will be ready 1st quarter 2008

dubaiflo

June 6th, 2006, 05:18 PM

why is he already banned?

scorpion

June 7th, 2006, 12:30 AM

must've said *quite a bit* in those FOUR prior posts of his...

malec

June 7th, 2006, 12:32 AM

maybe he was a spammer? :dunno:

worried1

June 9th, 2006, 03:10 AM

How much do you think a 600 sq ft Junior Suite would rent for in the Movenpick hotel and what would the ocupancy rates be?

Thanks

IFA launches hotel ownership plan

IFA Hotels & Resorts has launched its first hotel ownership program, the Movenpick Hotel & Residence Laguna Tower Dubai.

The new property ownership concept enables purchasers to buy a hotel room or suite on a freehold contract, receive 30 days usage a year, and benefit from a rental income, as the rest of the inventory is handed over to Movenpick to operate as a five-star hotel.

The Movenpick Hotel & Residence Laguna Tower Dubai, due to begin construction by the end of the year, will offer 120 hotel rooms and suites, as well as a host of traditional hotel amenities, including restaurants and bars, health club, swimming pool, and retail outlets.

“This is the first time that a branded freehold hotel product has been available in Dubai,” said Werner Burger, president & COO, IFA Hotels & Resorts, at the press launch. “There’s a need for a buyer to invest in a product like this,” he added.
Owners will receive up to 30 days to use at the hotel when they wish per year, and will be guaranteed an 8% return on investment for the first three years, Piaras Moriarty, director of IFA’s Palm Vacation Club, explained to Hotelier Middle East. After the first three years, owners will receive an annual share of net room profits from the hotel.

“IFA’s new ownership program represents a unique opportunity for mid-tier investors to participate in hotel ownership, which has previously been the domain of high net-worth individuals. The hotel residence model is well established in more mature hotel markets such as the US and South Africa, however, we are seeing an emergence of this type of product coming into the region. Investing in this type of programme is an attractive alternative for investors wishing to diversify their residential and commercial property portfolios, with the added benefit of getting some personal usage out of the investment,” commented Patrick Smith, vice president asset management, IFA Hotels & Resorts.

The Movenpick Hotel & Residence Laguna Tower Dubai will be managed by the Swiss hotel chain following the formation of a partnership between IFA Hotels & Resorts and Movenpick Hotels & Resorts. The two companies plan to develop hotel residence projects throughout the Middle East, Europe, India, Asia and Africa; markets they see offer additional opportunities of this new branded investment product.

IFA, which already has hotel and timeshare projects in Lebanon, Portual, Tanzania and South Africa, as well as an interest in the Golden Mile on The Palm, is also considering the set up of an internal exchange system to enable members to use other resorts.

“We will see similar products coming up,” confirmed Burger. “We are making a big effort to formulate the information to educate the buyers. It will be a new product, so it is important to take a broad view of how this works in other parts of the world.”

IFA claims hotel residence ownership reduces the risk in owning, managing and renting a property and it offers buyers peace of mind, as well as the means to be a part of Dubai’s two biggest growth industries — hospitality and property.

“Mövenpick Hotels & Resorts are delighted to partner with IFA in this exciting new venture and are committed to deliver the highest standard of quality and service to the Mövenpick Hotel & Residence Laguna Tower Dubai, ensuring that owners and guests can be guaranteed five-star service all year round,” said Andreas Mattmüller, Senior Vice President Middle East Mövenpick Hotels & Resorts.

worried1

June 18th, 2006, 05:31 AM

I will go to Dubai next week, I asked IFA rsorts if I could visit A2 and see the status of the construction.

IFA resorts told that I could not go visit the site; since the construction as already started. Told me I could not even take pictures.

Is this true? Can anyone help and let me know, how I can atleast go close to the site and take pictures

Krazy

June 18th, 2006, 05:36 AM

just drive up to the site and take pictures.. no one will stop you. Although I must warn access to any site in JLT is not easy and you will be best with an SUV since roads havent been paved yet.

Krazy

June 18th, 2006, 05:44 AM

ok here's how you can access JLT... as you go down sheikh zayed road (from abu dhabi to dubai)... take the exit for meadows/emirates hills... then make an immdiate right from the circle (everything is under construction there.. ) .. you'll get on a gravel road... keep going.. you'll see lots of towers under constrcution on the left.. they all belong to JLT... then when you're next to palladium tower.. park near the ETA office there... and walk to the laguna tower site... ive marked that with yellow (the walking you'll have to do thru all the construction).

http://i5.tinypic.com/14spenq.jpg

worried1

June 18th, 2006, 06:03 PM

dubaiflo

June 18th, 2006, 06:51 PM

i doubt u will see much on the sports city site.

refer to this map probably: http://www.skyscrapercity.com/showthread.php?t=317378

http://www.gis.gov.ae/en/downloads/pdfs/Major%20Projects.pdf
and here.

worried1

July 4th, 2006, 01:11 PM

Krazy,

Thanks for the info, Any idea about Sports City. How does one get to Red Rsidence or Kensington Royale?

I will be in Dubai July 2nd and hopefully take some good photgraphs to post to the site.

One last question: My flight arrives Dubai early in the morning and hotel check ins are in the afternoon. Is there an inexpensive way to take a shower and freshen up at Dubai airport?

Thanks

Visited the site yesterday. It was very difficult to get past security. We tried very hard to find the site A2. Construction was galore. For the wind towers folks, there were signs but thats all we could get to. I guess all kinds of buildings are comming up, and there was water in a lake too.

Krazy

July 4th, 2006, 08:55 PM

So you didnt manage to visit A2?

worried1

July 6th, 2006, 12:17 AM

So you didnt manage to visit A2?

I think we did, because with all the construction it was difficult to tell which one was A2. Also note: Ladies are not allowed to visit construction sites.

AltinD

July 20th, 2006, 07:59 PM

3B+G+39+1M

http://www.jlt.ae/tower_images/laguna_enlarge.jpg

worried1

July 30th, 2006, 06:23 PM

How do we view what you have put up. There is this red x.

Thanks

AltinD

July 30th, 2006, 07:02 PM

^^ Is not my problem, rather of NAKHEEL's JLT website.

BTW, this is under construction and 2 cranes are erected on site since weeks ago, which means the piling is completed. Please change the title.

worried1

August 1st, 2006, 03:21 AM

AltinD
I went to Dubai, but they took my camera away at the entrance to JLT so I could not
take pictures nor could I find A2.

Were you able to locate A2, since you say there are 2 cranes meaning that the piling is complete. I visited the IFA resorts office, but they were clueless as to the status of construction, nor did they have any photographs

AltinD

August 1st, 2006, 11:36 AM

^^ I've been driving that highway, twice daily for the last 6 years and been an active member on this forum for 2 years, so I know where the site is located. ;)

AltinD

August 2nd, 2006, 12:20 PM

Not only the tower is under construction, but now the progress can be even seen from SZR.

Please change the status. :cheers:

worried1

August 2nd, 2006, 09:54 PM

Not only the tower is under construction, but now the progress can be even seen from SZR.

Please change the status. :cheers:

Forgive my ignorance, but I did not understand "Please change status" or "change title". Could you please explain as to what I should do?

It is great that you can see the construction from the road. If you dont mind could you please periodically provide an update or maybe a photograph?

AltinD

August 3rd, 2006, 12:45 PM

"Please change status" was directed to the Forum Moderators, since it says in the thread title, that this tower is just "Approved", when it should be "Under Construction".

Don't worry (no pun intented), now that the tower is above ground level, photo updates will come from time to time.

worried1

August 18th, 2006, 04:11 AM

:) :scouserd: "Please change status" was directed to the Forum Moderators, since it says in the thread title, that this tower is just "Approved", when it should be "Under Construction".

Don't worry (no pun intented), now that the tower is above ground level, photo updates will come from time to time.

AltinD,

We just received an E mail from the builders, postponing all payment dates, indicating that construction has NOT started, and that the builders had just purchased an adjacent site also.

Are you sure construction has started on A2
:cheers:

dubaiflo

August 18th, 2006, 08:58 AM

^^ :weird:

i am pretty sure altin is correct.
also , what does this have to do with an adjecent plot they might have bought?

AltinD

August 18th, 2006, 11:40 AM

^^ No, she's correct.

Becouse of the proximity to each other I mistakenly thought it was this building but in reality it was the one on the oposite cluster (M or something). However a Imre picture shows machineries on site.

AltinD

August 18th, 2006, 10:44 PM

This what I was talking about

http://i7.tinypic.com/24y1j55.jpg

worried1

August 19th, 2006, 02:08 AM

According the notification from IFA resorts, the extra space will be use dto construct more retail space and an extra bar.

Completion appears to be not badly affected. Perhaps a couple of months.

AltinD thaks for the photographs and pointing out the sites with arrows. I would be grateful if you post on the web site anythin you see in the future on the A2 site. :cheers:

Maha

August 19th, 2006, 10:00 AM

:) :scouserd:

AltinD,

We just received an E mail from the builders, postponing all payment dates, indicating that construction has NOT started, and that the builders had just purchased an adjacent site also.

Are you sure construction has started on A2
:cheers:

Not only has the construction NOT STARTED, but the design has not been approved yet. After initial approval of the design they will have to apply for a building permit, which may take up to 3 months, construction is considerably far away.

worried1

August 19th, 2006, 06:35 PM

Maha,

Do you also own property in Laguna tower?

Maha

August 20th, 2006, 07:20 AM

No, I work with the master developer.

SunnyDeol

August 20th, 2006, 04:57 PM

Maha, i love that name, its so beautiful.

worried1

August 20th, 2006, 10:32 PM

No, I work with the master developer.

Maha,

It is good to know that you work with the Master developer, so your news will always be accurate.

I also have a propertry in Sports City in Kensington Royale, the master developer is Nakheel and the builder is MED. Any news on this property? And how is construction in sports city comming along.

Thanks for the info

SunnyDeol

August 20th, 2006, 10:41 PM

Maha is indeed great with a beautiful name ^

dubaiflo

August 21st, 2006, 09:36 PM

sports city master developer is NAKHEEL?

did i miss something?

worried1

September 29th, 2006, 03:21 AM

Movenpick Hotel & Residence Laguna Tower Dubai Construction Update
14 September 2006
Dear Customer
The development is continuing to generate a lot of investor interest and we are very happy with the continuing level of demand for the project. An application for the piling permit has been accepted and piling and shoring works have started as scheduled with an approximate four month build time. The contractor is now mobilised on site and we remain hopeful the master development will be completed and handed over to IFA Hotels & Resorts (IFA HR) by the master developer within the preferred timescales.
The main structural phase will start approximately November 2006 after completion of piling and shoring works. Once main construction starts, building will be in-ground for the first 2 months to secure the sub structure and basements. Construction of the superstructure will follow thereafter.Visible construction from the roadside will be evident within the first month of 2007 onwards. Photos will be provided on a regular basis to show progress as and when available from the Project Manager. To summarize events to date, the building permit was submitted to Jebel Ali Freeze Zone Authority (JAFZA) at the end of June and approval had to coincide with piling on site. Recently JAFZA and the local authorities changed the usual approval process which in turn delayed the building and piling permit process.
The first change to take place is now all drawings must first be submitted to DMCC (Dubai Multi Commodities Centre, the Jumeirah Lake Towers developers / owners) for approval. Once approval is authorised by DMCC, IFA HR must then submit to EHS (Environmental Health and Safety, a branch of JAFZA ). This new procedure delayed progress by approximately 8 weeks and once finalised, documents then have to be re-submitted to JAFZA. The JAFZA approval can take up to six weeks and along with approval, all structural designs must now be checked by a third party independent consultant as part of JAFZA requirements.
We need to inform you that DMCC (The master Developer) has reworked the appearance of the lake, from upgrading the design of the lake, to changing the public areas and walkway. The lake design has been altered to allow better circulation of the water and changes to the master development are being carried out due to key learnings from mistakes made by other developers. If you have been able to view the nearby Dubai Marina, you may have noticed areas of stagnant water which promotes a catchment for litter and rubbish. DMCC looked at this and consequently redesigned the lake to ensure this does not happen at the Jumeirah Lakes development. New designs, including public walkways and landscaping, are being finalized. With this in mind, the lake infrastructure is now scheduled for completion during the last quarter of 2008. All changes have been designed to enhance the overall development which is a positive move for resident investors. Unlike Dubai Marina, pedestrians will be able to walk, run and cycle around the entire edge of the lake itself. This enhances the pedestrian attraction and provides a more people friendly environment.
The interior design proposal was presented to IFA HR and the hotel operator Mövenpick and has since been approved. The interior design company is Concept4 - the second largest interior design firm from the USA . The interior designer has conducted a number of space planning exercises and has developed an extensive gymnasium and spa on the mezzanine floor. In addition to this, IFA HR will be developing an exclusive furniture package for all our clients to ensure a smooth, hassle free hand over and occupation. Once details have been finalised we will forward an information pack for your perusal.
As always, we remain committed to ensuring that you are not inconvenienced in any way when trying to locate reputable suppliers of quality fixtures and fittings for your new home.We hope the furniture package currently being developed by Concept4 will provide a complete solution to your lifestyle requirements and we look forward to providing details nearer to the time of occupation.
To conclude, IFA HR goes from strength to strength and you may have read that we have recently listed on the Kuwait and Johannesburg Stock Exchange, please visit our website for further information.Kindly note that delays to the construction start dates are due to governmental procedures beyond the remit of our control, during this time IFA HR have looked at ways to enhance the tower and therefore provide you the purchaser, with a better product.
As a developer, our first priority is to ensure we deliver a superb product above and beyond that offered by other developers.We are still on track to complete within the long stop date provided in your sale and purchase agreement and as soon as we receive any further information from the awarding authorities and project manager, we will be delighted to share all development information with you.
Please revert back to your new payment schedule sent 2nd August 2006 to ensure the timely transfer of funds thus avoiding interest charges on missed or late payment.
I trust the enclosed information is helpful and should you require any further assistance please do not hesitate to contact IFA HR on crm@ifahotelsresorts.com. In the event you change your personal contact details please do keep us informed so we are able to stay in touch with you.
Kind Regards

On behalf of the Customer Services Department

worried1

October 24th, 2006, 01:55 AM

No, I work with the master developer.

Maha,

Do you have any further news on the construction of laguna tower?

worried1

November 18th, 2006, 03:31 PM

AltinD,

Can you see the construction now from the road on your daily commute on Sheikh Zayed road?:cheers:

AltinD

November 18th, 2006, 07:52 PM

^^ I don't think I've seen anything happening there. Sorry ...

Worried2

November 19th, 2006, 04:43 PM

This makes me really worried!

I joined this forum, since I was worried about my investment in the Laguna Tower and I was looking in the internet for any thing and I found this forum. I joined Worried1 and called myself Worried2, since I am really worried.

I have been worrying about this project (in which I bought a unit). They said they planned to start October 2005. By year end 2005 when I called, they said they were going to start by the beginning of the year. By February, their answers were never convincing, and I only got sweet-talking salesmen.

By mid-year this year, I started to exchange "hot" messages with them and prottesting their call for our installments. They finally gave in (I don't know how many other protesters are out there) and gave us a break in the payment schedule.

Their messages are always vague. They sent one in August that talks about every thing being great, but they would not mention when to start. I got furious and demanded they tell us the start date. Then they sent their September letter saying they will start November. Well?????? Comes November, and upon asking they give me that awful and stomach-aching reply of "our marketing department is working on the update and you should hear from us in few week"...... few weeks and only an update???????????? What is going on? I again demanded a clear answer, which I have not received until now, but plan to demand it.

I am really worried since I paid quite a bit of the total price.
Any sign AltinD of even having the site being worked on? (they even sent a phot of a crane back in September!!!!!!!!!!!!!!!!!).

I plan to press on them to come out and tell us what is going on. I plan to take it to the Board of Directors, all business bearueaus, authorities, name it.

It is a fabulous project... once we can get our hands on it!

Maha, and update you can give us?

worried1

November 20th, 2006, 02:52 PM

Now I am really worried.

I invested in 2 projects in Dubai. The first one was in Dubai Sports City--Kensington Royale. MED is the builder. Same thing taking money, taking money. Nothing happening.

Now I learn from worried2 that Laguna Tower/Movenpick has the same problem.

My fellow investors in Kensington Royale tried bureaucrats, govt officials, the sheikh--nothing happened not a word.

For the time being I and fellow investors have stopped investing in Dubai. We receive daily mailings from various developers and builders. I see the problems with Wind Towers, late delivery on other projects and actually wonder about the future of investments in Dubai

worried1

November 20th, 2006, 03:20 PM

Worried 2 you may also post on singingpig.co.uk on their Dubai thread.

My next investment is in the Trump Baja; We (including many others) will not be pouring money into Dubai anymore.

dubaiflo

November 20th, 2006, 04:50 PM

well to be honest, u should do better research before buying maybe.. the risk of offplan.

worried1

November 20th, 2006, 05:35 PM

OK, Lets be specific what kind of research.

Point out websites, people who should be contacted, where is the research available.

Perhaps a new thread could be started with all the folks who got screwd in Dubai, rather than Wind Towers, Kensington Royale, Laguna Towers, Lighthouse etc etc

Worried2

November 20th, 2006, 05:57 PM

I hear that all the time.... "you should've done research, etc."

Honestly, many things are lined up for success here. IFA Hotels, Movenpik, all have good reputation. Government watch of these projects has also helped to secure the environment and had fueled investments. The sheikh is quoted as saying lately "Those who speak of a bubble in Dubai don't know what they are talking about". Well, to show that investors should stay and more should come, their protection should be more visible.

I suggest we all put pressure on the developers. I am doing that already. Worried1 message about no reply is discouraging, but perhaps if we all do that, the momentum will be bigger and fear of everybody fleeing and the bubble burst may prompt them to do something.

Waiting for the good news!

cutecameljockey

November 20th, 2006, 07:01 PM

In any investment, one must at least make sure it is legitimate and not a scam.
In my case when I decided to invest, I went to real-estate exhibition/show in Dubai, I found something
I liked, the agent was convinced that I was a serious buyer, he then drove me to the actual site of the proposed project, then took me to the meet the builder/seller, I asked many questions, I requested a copy of their trade license, and I also requested a document proving to me they either own this project or have the right to sell this project, after I was convinced, I bought the same day.

dubaiflo

November 20th, 2006, 08:37 PM

let's move this to the investment talk:

http://skyscrapercity.com/showthread.php?t=368157
i agree in this case, the laguna tower, there is nothing u could have done, but then nobody says they ran out of money and the tower will never be built. delay is nothing special.

and they give completion 2008 so if it will be 2009, one year. normal in Dubai.

on the other hand, this is the best website for research but u need to find out about other projects of the company , reputation, talk to them, etc.

worried1

November 21st, 2006, 01:52 AM

Worried 2 & Others like Wind Towers:

There was a good show on ABC's 20/20 about Dubai. The first part showed the mega projects, in the second part they highlighted the poor conditions of the workers. One worker said that he made 900 Dirhams a month. They showed 12 workers living in a single room.

Perhaps if anyone has connection with the press, some of the investors who got screwed or are getting screwed could get some good international press.

malec

November 21st, 2006, 02:03 AM

Looking through the thread and the website this doesn't seem like one of those dodgy developer type towers like the lighthouse. Maybe someone can get some pics?

Worried2

November 21st, 2006, 07:59 PM

Just one note on Laguna. When I purchased my unit, it was to start October 2005 and finish 2007. So 2008 already has the one year delay, which we accepted. The problem now is that more delay means it will be a delay of two years from whenever they start (if we can establish that). 2009 could mean two years... quite a delay, but more acceptable than not knowing.

I haven't yet considered it a scam and I am not proposing so, but they show very poor consideration for investors who put money and are worried. Any thing can go wrong, and then you wonder what you can retrieve if things go wrong.

worried1

November 21st, 2006, 08:48 PM

Worried 2

Well put. That is the situation. What you learn slowly is that as an investor you have no rights in Dubai.

Even if you do have rights; they are too expensive to exercise long distance and then too the outcome is iffy.

The good thing about boards is that atleast this is a medium for other folks to be forewarned and discuss issues intelligently and also vent their frustrations.:cheers:

AltinD

November 22nd, 2006, 10:27 AM

I can see some kind of activity in the aerea, a couple of crowling cranes and a piling rig. They seams to be on the center of the A-cluster but I can't guaranty that they are exactly on the plot A2 or if they're working on the podium aerea.

Imre could take a shot from his Marina Diamond 2 apartment (if internet is connected to him).

thedubailife

November 22nd, 2006, 12:05 PM

I think this project will get delivered, But the longer it gets delayed, the more it will cost to be built.

I think with Movenpik involved and IFA Hotels having a decent reputation there would be nothing to get too worried about.

But the developer does need to be forthcoming with reasons for delays. It's a great project with a good partnership.

So Lets hope 2007 is the year for LAGUNA to rise.

jnas

November 22nd, 2006, 02:32 PM

Hi All,

Glad I found this forum..

I gave a deposit for a unit in August and was told there were no delays. Then the next day I received an email indicating the whole project has been delayed and will not be ready until September 2008. Anyway I went to Dubai end of September to get the paper work signed off, get reassurance and ask questions. Also asked to go and see the site. This is what I found:

1. There was nothing to see at the site saw it at a distance.
2. Judging by other developments where towers are built constructed to at least half way I don’t think this development is going to be complete by September 2008.
3. The drop dead date indicates if it is not reached IFA will refund only if it is not in there hands. When pressed for this I was told it is very unlikely IFA will pay this out as the delays are not of their doing and will not be able to cancel the agreement. I think they planned to start this late once they found out the lake will not be finished until end of 2008. Makes good business sense for them but not potential investors.
4. The furniture packages will not be cheap; will need to set aside 100k AED at least.

I’m thinking against the development as tying up my capital for 3 years without any return is not going to help me one bit. Also I face a risk in that most of the developments will finish around the completion of this project.

Resulting a risk of oversupply nothing in return…

worried1

November 22nd, 2006, 08:35 PM

Welcome to the thread.

Now we have atleast 3 folks who have a personal interest in the welfare of this project.

The furniture package 100K Dhm(I hope not US$) comes as a surprise. We were told the furniture package is included.

I wish I could also find some investors with Middle Eastern Developments (MED) projects. I have Kensington Royale with them, and one does not know if it will ever be made.

:banana:

jnas

November 22nd, 2006, 11:10 PM

I went in September and there Marina looked really packed. There was towers everywhere. It seemed every space had used up. With JLT finishing begining 2009. I think there is going to be a serious risk of over supply as all the developments finish at the same time. Also the service charges are raising rapidly.

worried1

November 23rd, 2006, 04:36 AM

Jnas

If the building is ready later there are some positives>

1st 3 years we get 8%; within 3 years hopefully the supply will be absorbed. I actually am in the Movenpick hotel, so if you are in the laguna towers then you dont get the rental guaranttee. That was a reason of mine to go into a condo hotel. Being a long distance landlord would have been painful.

After the problems in Dubai, I ahve invested in Magarpatta city in Pune, India. Believe it or not, it is going ahead at full speed. Delivery expected 2008.

I also am in the process of investing in Trump, Baja. Dubai I am going to by pass, until my existing investments start returning something and I can build some confidence level in Dubai

Worried2

November 24th, 2006, 08:48 AM

Just a little update.

I am still going back and forth with Laguna management pressing them to come forward with a reassuring statement. Some one called me to reassure me!!!!!!!!!!!!!!!!!!!!!!!! I told him hay! we have people who have gone to the site and saw nothing. He backed off and promised to get me the full story and come back to me. I will follow this path, going upward as time goes by.

Delay is relative. If you sign now, they will give you a completion date two years from now. We signed summer last year, with promise to start October 2005 and finish by October 2007... This is not going to happen.

Financially, it doesn't show as a good investemnt. You're bound to lose time (=money), and the oversupply is a big issue. With the tower not even started, we also have the risk of losing something..... In my case, living in the Gulf, I am considering using it for me, family, friends, if I don't rent or sell.

Compared to a unit I bought in Bahrain, Laguan is still headace. Work in the Bahrain unit is moving. They have armies of people working and I see progress all the time. They are even embarassed about delay of few months!

We appreciate comments from any observer or visitor to the site. A lady named "Maha" made some comments a while back. Would be nice to hear updates from her if she can.

Will keep you posted if any I hear any update.

worried1

November 24th, 2006, 10:21 PM

Worried 2

Thanks for the great update. We too have sent E mails to Laguna & MED. I doubt if we will get a response.

You seem to have good experience with Bahrain. I too have good experience (believe it or not in India!!!) Also good experience in USA.

I guess Dubai has an over ambitious program and they cant deliver, leaving investors holding the bag.

In my Sports City (Kensington Royale--MED) building, I can understand that the infrastrucure is not in place, but in JLT buildings are comming up all around, so there must be some BIG problem.:banana:

worried1

November 27th, 2006, 12:46 AM

I hear that the new prices being quoted are 10% more than last year. But I hear that the average prices in Dubai are up 20%.

Does anybody know if average prices in Dubai are up 20% from last year?

Krazy

November 28th, 2006, 05:33 PM

^^ investment talk is not permitted in project threads. Use the investment thread on main page.

worried1

December 3rd, 2006, 04:40 PM

Worried 2/Incas

Any news from Laguna Tower. No response to my E mails or telephone calls?

Next payment installment is due in a few months:ohno:

Worried2

December 9th, 2006, 01:16 PM

I got some updates from them. It is not that great, but better than nothing.

I have been assured that the construction is on going. I can't confirm that unless I go there or have some one go there, but they sound very srious that there is going to be no delay beyond the 2008 completion date. The main contract has been awarded and it will be 3 months before it is above ground (some basement work needs to be done, and they have started!).

They said they will send an update in "few" weeks.

So, I remain hopeful and have to wait a coupel of months before I get more worried again.

worried1

December 10th, 2006, 04:42 PM

worried1

December 11th, 2006, 01:56 PM

Laguna towers owners. This is what I finally received form IFA.

I have received your email but I apologize for the late reply as I have been busy lately.

We have already started the construction of the Laguna Tower project.:banana:

Should you need any further information regarding that matter, kindly contact crm@ifahotelsresorts.com

Worried2

December 12th, 2006, 06:43 PM

Sounds good to have the confirmation from two sides. However, it seems we have to give it a couple of month to see that it is true. If any body has first hand info on this, please let us know.

worried1

December 22nd, 2006, 01:16 PM

Sounds good to have the confirmation from two sides. However, it seems we have to give it a couple of month to see that it is true. If any body has first hand info on this, please let us know.

This is some more info on Laguna Tower. Cannot open the champagne yet!

As of 29th November, their pilling is in progress. They have a few more NOCs they are following but nothing major in the way.

I dont think they have a building permit yet though, permits take time at CED.

Worried2

December 28th, 2006, 07:55 AM

This is disappointing!

The almost swore in their lettr to me that they started construction, dismissing any one's comment that construction did not start. I will go back to them in January (I thought I'd wait till February, but that may be too long).

Can we know the source of the news that you have so that we can face them with it? I told them that peopel who visited reported that construction did not start and they dismissed that.

Maha

December 28th, 2006, 11:19 AM

They can start excavation, shoring and pilling with a temporary permit. But they need the building permit to start the foundations.

ps, the source of news is me. I have (inside) information!!!

wiki

December 28th, 2006, 08:42 PM

i like it

worried1

December 29th, 2006, 04:17 AM

They can start excavation, shoring and pilling with a temporary permit. But they need the building permit to start the foundations.

ps, the source of news is me. I have (inside) information!!!

Maha Thank you, please keep us informed if it is OK with you.

worried 2 we got New Year wishes from IFA resorts but no pictures of the construction

Worried2

December 29th, 2006, 10:48 AM

Well... I thought I could rest during the holidays and leave it till February to check on them.

They said when I pressed them that they strated construction. Now, may be they are playing with the definistion of construction. If they are doing excavation and piling, they may want to call that construction... when we actually mean the start of the rise of the buliding. Of course the phase of the excavation and piling can be indefinite....

They say that they have signed the main construction contract. Can you verify that Maha?

Do you know Maha when the "construction" will start?
Can you also verify that they still don't have the building permit?
Is that far away?

Would very much appreciate your "inside" information.

Worried 1, you refer to info from them, but it is not from Maha, right (at least I did not see it posted)? It sounded like a formal communication. Did you get any written reply from them, or is it just reported by Maha or someone else?

worried1

December 29th, 2006, 02:04 PM

worried1

January 16th, 2007, 01:06 AM

worried 2 and others.

Do we make the february payment?

Worried2

January 21st, 2007, 10:06 AM

Due to the delay in the project, they postponed all payments after paying 50% till June 2007. So if you have paid 50%, you stop paying until June. (I guess if not, you are required to pay).

In my case, I have already paid 50%, so the Feb 07 payment does not concern me.

I have heard that they are working on an announcement soon... first it was end of January, the may be January/may be February... you know how it goes. I am holding my fingers crossed to see what will come out. Signs are they are moving ahead, but I will wait to hear from them.

worried1

January 21st, 2007, 03:51 PM

Worried 2 . They changed our payment schedule to.

Feb 07 20%
October 07 20%
March 08 20%
Complete Jun 08 10%

AltinD

January 21st, 2007, 04:36 PM

^^ Make that June 2009.

worried1

January 21st, 2007, 04:51 PM

^^ Make that June 2009.

AltinD,

Thanks for the info. Is it inside info June 2009 or is it a best guess

AltinD

January 21st, 2007, 06:28 PM

^^ The best guess, based on the construction status of this tower, the number of floors and use of this tower, and of course based on the overall construction progress speed throughout Dubai.

I honestly belive that you can't get your apartments handed over before that period.

worried1

January 22nd, 2007, 12:17 AM

Worried2

January 22nd, 2007, 09:59 AM

AltinD,

You say your guess is based on the conctruction status of the building.
Can you update us from your perspective on teh construction status?

Thanks.

AltinD

January 22nd, 2007, 10:23 AM

Use of tower: This is a Hotel and furbishing a Hotel takes much longer then furbishing a residential tower, obviously becouse it has to be FULLY furnished. Also the Hotel operator must be satisfied with the quality of fitting and furbishing before apartments have to be released to the owners (in a residential tower they give your the apartment and then you have to fight with the developer to repair and replace deffective/demagged work and materials).

Construction Status: I've heard here (in this forum) that ground work has started and I'm refering to that.

worried1

January 22nd, 2007, 06:42 PM

worried1

January 25th, 2007, 12:55 PM

:banana: IFA Hotels & Resorts would like to take this opportunity to wish all our clients a very happy New Year and we extend our warmest wishes to both you and your families. Now that life has returned to normal after the holidays and festivities, we are pleased to provide a project update following up from our last newsletter issued September 2006.

As you may recall, in our last communication we reported that the piling & shoring permit was issued and works are now well underway and aligned to key project milestone dates. In December, the main structure / building permit was officially issued by Jebel Ali Free Zone Authority (Jafza) paving the way for a seem-less hand over to the contractor. Piling and shoring was completed in early December then main contractor took over and commenced with excavation and pile cutting. We expect this work to be complete by the end of January and ground slab and retaining walls construction will proceed thereafter.

The management of Laguna Tower and Movenpick Hotel & Residence Laguna Tower Dubai have awarded a main contract to joint venture partners ‘Test-Ranya-China-State Joint Venture’ who are already mobilized on site. You may wish to visit their website http://www.cscec.com.cn/english/work.htm With the enabling works complete and the dewatering process underway, we are now well on track to start bringing the structure out of the ground.

As you will appreciate, substantial in-ground works had to be undertaken to complete the substructure and basement works prior to the super structure rising past ground floor and upwards. China State , one of the world’s largest construction companies with vast high rise experience, has been charged with construction and management of the main structural works, to ensure construction proceeds as set out in the programme.

The Laguna Tower / Movenpick Hotel & Residence Laguna Tower Dubai site setup is virtually complete with site hoarding and offices already in place. IFA Hotels & Resorts (IFA HR) will have a full time representative on site from January onwards overseeing the management and construction of the works. This will no doubt be great news to all our clients as it will enable IFA HR to communicate the latest construction updates “hot off the press”. We look forward to issuing photos and client updates just as soon as we have news to share with you and we’re hoping to introduce project information via our website in the future for your convenience.

IFA HR is currently in the process of building an off- site full scale mock up Laguna Tower studio apartment as well as a completed hotel room for the purpose of approving materials and finishes. Once the model has received executive approval and is signed off by IFA HR and the hotel operator (Movenpick Hotels & Resorts), these rooms will be made available to our Sales department for client viewing. Clients wishing to view the model rooms may do so by contacting our Sales Executives to schedule a date and time.

We hope to offer this service to all clients by early March following completion of the necessary inspections and approvals. We are really excited about this latest initiative as it will almost certainly bring the project to life. Additionally, it will allow you to experience first hand the look, feel, quality and standard of your investment reinforcing our commitment to providing a quality product.

With the construction and hard finishes almost completed, we are currently waiting for delivery of the sanitary, tiling and furniture samples from Europe and the USA .

IFA HR, like many other major developers, accept there has been challenges due to a shortage of professional, quality subcontractors and suppliers within the Dubai market, such as mechanical, electrical and plumbing (MEP) contractors, curtain walling and glass manufacturers, joinery companies, etc. Nevertheless, we have the added advantage of contracting one of the few joint venture consortiums who perform these works in-house, working in partnership with sister companies. Drake and Skull will carry out the MEP works ensuring that one of Dubai’s elite international electro mechanical companies is on board with us for this superb project.

Over the next few weeks we will see the completion of boundary hoardings as well as the main contractor and consultant office construction. This would generally take over one month to mobilize however we were able to start the works on day 1 and claw back time. Now that everyone is on board and all key stakeholders are in place, the development will progress at pace and we look forward to keeping you updated. Information will be made available via the Client Relationship Management Department just as soon as we have more details to share with you.

We are still on track to complete the project within the long stop date in your Sale and Purchase agreement and as a premium developer it is our first priority to ensure we deliver a quality product that is amongst Dubai ’s leading properties. We appreciate that investors are keen to receive their properties on the earliest possible occupation date and it is in the best interest of the Management of Movenpick Laguna Tower to ensure we pursue this on your behalf.

As always, we want to stay in touch with you therefore please let us know if you change your email, mobile or contact details so that we can update our records accordingly. We also require a valid and legible passport copy for the purpose of land registration and if your passport has expired, kindly forward a new copy to CRM.

To conclude, we kindly remind you to observe your payment schedule and installment due dates to avoid interest charges of 1% per month. Remittance bank details can be located in your Sale and Purchase Agreement, at the foot of your statement of account or by contacting Client Relationship Management (CRM) Department.

I trust the enclosed information is helpful and should you require any further assistance please do not hesitate to contact the CRM team at crm@ifahotelsresorts.com.

Kind Regards

On behalf of

IFA Client Relationship Management

Attachments Attachment scanning provided by:

Files:

Laguna_Tower.jpg (108k) Scan

worried1

January 25th, 2007, 03:50 PM

Moderator,

Based on the letter sent to owners of Laguna Tower, it may be time to designate this as Under C.

Hopefully, AltinD will soon be able to see the building rising out of the ground on his daily commute.:banana: :banana: :cheers: :cheers: :) :)

AltinD

January 25th, 2007, 04:06 PM

Sound promissing. Surely I'll report here when I'll see the tower crane erected on site, the first sign that work on the main structure is starting.

thedubailife

January 25th, 2007, 04:20 PM

How far has work got on this tower so far, Is piling done ??

Worried2

January 26th, 2007, 02:10 PM

worried1

January 27th, 2007, 01:31 AM

Worried1,

Good news. As I said in one of my recent messages, I expected a positive announcement.

However, to ensure that we are really positive, we do need independent watchers. If AltinD can provide us with some notes on the physical side that would be helpful.

Worried1: You said you were able to track Maha on another thread. Can you ask her if she can verify the latest news?

I hope to be bale to pass by Dubai in March an dverify what is going on.

Good you are passing thru Dubai in March, I went there in July 2006 and nothing was happening.

Maha monitors this thread also and was quite active during the JLT Fortune tower fire.

MAHA can you confirm that what IFA is saying is true?

:cheers:

AltinD

January 29th, 2007, 04:52 PM

See this picture from Imre

http://img213.imageshack.us/img213/5033/iconphoto018fl3qr1.jpg

A crane on A1 and piling rigs on A3 ... but nothing on A2 :ohno:

worried1

January 30th, 2007, 02:16 AM

AltinD,

I see the photograph showing A1; however IFA has sent us photographs of the construction along with the letter I have posted above.

I did not know how to copy the photographs into the skyscrapercity pages.

worried 2: Do you know how to copy the photographs onto this site.

MAHA: Do you have the right picture?

:ohno: :ohno: :ohno: :ohno: :ohno:

Worried2

January 31st, 2007, 10:33 AM

worried1

January 31st, 2007, 07:45 PM

I'll try posting pictures later, but for now, can we get some clarification?
I can't imagine that IFA would send fake photographs!

From the pictures they sent, you would see almost nothing at the scale of the buildings shown on the picture. They are still working underground, so only some surface equipment will show (cranes, etc).

The picture posted, the way I see it, does not tell me where A2 is. Can someone put an arrow on it? That way, we can see if there is any thing. The other thing, when was thsi picture taken? We need a recent one.

I doubt IFA would send fake photographs. However, by seeing the pictures put up by Imre today and estimating A2 it looksas if their is some activity.

MAHA MAHA where are you, perhaps you can shed some light. Anyway sent my 20% to IFA yesterday

Worried2

February 1st, 2007, 10:15 AM

Can you help me by directing me to where A2 is on the photo?

worried1

February 1st, 2007, 01:17 PM

Can you help me by directing me to where A2 is on the photo?

If you look at the picture put up by AltinD/Imre. Icon 1&2 are marked. A2 should be directly opposite towards the SZR side. This is an estimate of A2 location only.

Worried2

February 1st, 2007, 03:57 PM

Unfortunately, I can now only see an icon saying "image does not exist".
Can you put it back AltinD?

minime

February 1st, 2007, 09:59 PM

:redx: and :redx:

worried1

February 2nd, 2007, 02:26 AM

:redx: and :redx:

we just see two red x

Krazy

February 2nd, 2007, 02:58 AM

no red x for me.. i see a toad

http://img213.imageshack.us/img213/5033/iconphoto018fl3qr1.jpg

worried1

February 2nd, 2007, 03:50 AM

no red x for me.. i see a toad

http://img213.imageshack.us/img213/5033/iconphoto018fl3qr1.jpg

Is the toad the only piece of construction equipment on A2:banana: :lol: :cheers: :nuts:

AltinD

February 3rd, 2007, 12:48 PM

That means that the picture was deleted from Imageshack and that's nothing we can do about it. As for the "two red x" "pictures" posted by minime, that's just a smiley meaning "pictures are not showing", like this smiley: :lol: means LOL.

Worried2

February 12th, 2007, 10:32 AM

I could not insert pictures (as images or files). It allows me to insert them as an HTML link only, which I cannot do.

It is surprising that until now, no one has come forward to assert one thing or another.

AlindD, Maha, anybody: can you confirm that some construction on A2 is ongoing? Can any body confirm that a contract was signed and the crew is mobilized?

Thanks.

Krazy

February 12th, 2007, 03:23 PM

THE DUBAI GUYS

February 12th, 2007, 04:51 PM

DSI wins MEP contracts worth AED 325 million

[Monday, February 12, 2007 3:34:00 pm]

Drake & Scull International (DSI) has won contracts totaling AED 325 million for complete mechanical, electrical and plumbing (MEP) work on first-class projects in Dubai’s prime residential and leisure districts. DSI will supply, install, test and commission the MEP requirements for Zabeel Investment’s Anantara Palm Jumeirah & Tiara Residence at the Palm Jumeirah, and for IFA Hotel & Resorts’ Laguna Tower Residence at the Jumeirah Lake Towers.

Under the contracts, DSI will carry out the installation of the air conditioning, ventilation, plumbing and drainage, building management system, automatic fire fighting, power and lighting, telephone and data, fire alarm system, video intercom system, central energy lighting, close circuit television and access control security systems of both projects.

Nasser Yaseen, Operations Manager, DSI, said, “DSI’s technical proficiency molded by years of extensive experience in the industry, and our contemporary expertise sharpened by a sustained investment in the latest trends and technology, will be of great use in meeting the unique demands of these leisure-oriented projects. Aside from providing the best quality of engineering work through cutting-edge technology, we also give significant consideration to the end-users when implementing our projects especially in these highly consumer-centric facilities.”

Under the Anantara Palm Jumeirah & Tiara Residence contract, which has been awarded to DSI for AED 250 million, DSI will work on a 258,000-square meter complex of adjoining apartments, five-star hotel, serviced furnished apartments, and a club house. Located on plot H9 of the Palm Jumeirah, which is one of the landmark development projects in the Middle East, the project comprises 644 high-quality apartments of one, two and three-bedroom units, penthouses, garden apartments, multi-level underground parking spaces, landscaped and playground facilities, 244 hotel rooms, 132 service furnished apartments and swimming pool facilities. DSI has started work in January.

For its AED 75 million contractual work on the Laguna Tower & Residence, DSI will collaborate with Test-Ranya-China State Joint Venture, which is the main contractor of the project. DSI will begin MEP installation in February 2007.

R

worried1

February 13th, 2007, 01:51 AM

worried 2, it looks good, with the posting from Dubaiguys.

But a picture of A2 would be great. These guys may actually deliver June 2008, though I am inclined with AltinD's estimate of 2009:banana:

dubaiflo

February 13th, 2007, 09:22 PM

they will begin MEP in Feb???

worried1

February 14th, 2007, 01:51 AM

they will begin MEP in Feb???

If MEP is begining Feb, then should someone not be able to see construction from SZR.:cheers:

Krazy

February 14th, 2007, 05:42 AM

These guys may actually deliver June 2008

Even if they started this very moment and didn't stop till June 2008 working 24 hours.. they would not be able to deliver a 40 storey tower in 16 months. Please don't expect handover before late 2009.

Worried2

February 14th, 2007, 09:53 AM

Please excuse my ignorance, but what is MEP? (a guess: Main ..... Phase?). What does it mean?
Also, Worried1's questions is not about the finish date. Let us leave that for a moment. The questions is about the beginning. His question was "If MEP is begining Feb, then should someone not be able to see construction from SZR?", so should someone be able to?

worried1

February 14th, 2007, 02:28 PM

AltinD

February 14th, 2007, 05:31 PM

^^ M = Mechanical

AltinD

February 14th, 2007, 05:33 PM

they will begin MEP in Feb???

Yeah right, and I'm a Uni student.

worried1

February 15th, 2007, 02:06 AM

^^ M = Mechanical

AltinD,

Mechanical is right; ther eis no maintenance in new construction:)

So what is your forecast for delivery of Laguna Tower?

AltinD

February 15th, 2007, 05:11 PM

^^ Please find the way to post the pictures that IFA send and then I can judge, but it is very positive that the main and MEP contractors are already appointed.

AltinD

February 18th, 2007, 09:53 PM

http://www.bncbulletin.com/pgs/prjbulletin/shared/images/prjb_title.gif
http://www.bncbulletin.com/pgs/prjbulletin/issue105/images/prjb_projname.gif

PROJECT OVERVIEW
Project Type: Commercial / Residential - Multi-Storey (Over 15)
Progress: Under Construction
Estimated Completion: Sep, 2007 (Yeah right :lol: )

http://www.bncbulletin.com/pgs/prjbulletin/issue105/images/image.jpg

The project involves construction of a 40-storey tower which includes 120 hotel rooms and suites, luxury one, two, three bedroom apartments, penthouses, promenade-level shops, restaurant and offices. It includes amenities like a fully-equipped deck & two swimming pools, a leisure pool, which will be a part of the recreational club and a lap pool, which will be in a state-of-the-art private gymnasium & health club, open to membership with a jacuzzi, 24 hour security and basement parking.

COMPANIES

-------------------------------------------------------------------------------------------------------
Nakheel Co. LLC
United Arab Emirates
Company Type: Owner, Property Developer
Scope of Work: Master Developer.
Contact No.: 971-4-3991400

-------------------------------------------------------------------------------------------------------
IFA Hotels & Resorts
United Arab Emirates
Company Type: Owner, Corporation
Contact No.: 971-4-3912022
Notes: IFA Hotels & Resorts is a wholly owned subsidiary of Kuwait's International Financial Advisors (IFA).

-------------------------------------------------------------------------------------------------------
Movenpick Hotels & Resorts (MH&R)
Switzerland
Company Type: Owner, Corporation
Scope of Work: Management of Hotel Residence.
Contact No.: 41-1-7122222

-------------------------------------------------------------------------------------------------------
RNL Architects
United States
Company Type: Consultant, Architectural
Contact No.: 1-602-2121044

-------------------------------------------------------------------------------------------------------
Al Gurg Architectural Consultancy
United Arab Emirates
Company Type: Consultant, Lead
Scope of Work: MEP Consultancy done in-house.
Contact No.: 971-4-2823234

-------------------------------------------------------------------------------------------------------
Dutch Foundation Co. LLC
United Arab Emirates
Company Type: Contractor, Piling
Contact No.: 971-4-2833100

-------------------------------------------------------------------------------------------------------
Test Contracting Co. LLC
United Arab Emirates
Company Type: Contractor, Main
Contact No.: 971-4-2325471
Notes: Joint Venture with Rana General Contracting.

-------------------------------------------------------------------------------------------------------
Rania General Contracting
United Arab Emirates
Company Type: Contractor, Main
Contact No.: 971-6-5593784
Notes: Joint Venture with Rana General Contracting.

-------------------------------------------------------------------------------------------------------
Drake & Scull International (DSI) LLC
United Arab Emirates
Company Type: Contractor, MEP
Contact No.: 971-4-3313123

-------------------------------------------------------------------------------------------------------
Tamweel Home Finance
United Arab Emirates
Company Type: Other, Finance Company
Contact No.: 971-4-2952259
-------------------------------------------------------------------------------------------------------

NOTES

February 07, 2007
Also refer to PRJAE0400097 - JUMEIRAH LAKE TOWERS (JLT).

December 06, 2006
www.lagunatower.com

November 19, 2006
The main contractors will be awarded by the end of November 2006.

October 25, 2006
Piling works in progress.

July 10, 2006
Main contractor is expected to be awarded by August 2006.

March 13, 2006
Construction expected to begin by June 2006.

December 18, 2005
The project is still in the design stage. Tender documents will be released by February 2006.

September 13, 2005
Main contractor is expected to be awarded in November 2005.

February 01, 2005
Construction is expected to begin by August 2005

dubaiflo

February 19th, 2007, 12:40 AM

the Notes are :rofl:

Dubaiwonders

February 21st, 2007, 02:14 PM

What is the meaning of "Laguna" :| ?

AltinD

February 21st, 2007, 03:25 PM

^^ hm ... try "lagoon" in latin languages like Italian and Spanish.

Imre

February 22nd, 2007, 11:54 AM

22/02/2007

U/C

Laguna Tower

http://img184.imageshack.us/img184/4226/photo41hr1.jpg (http://imageshack.us)

http://img184.imageshack.us/img184/3434/photo42qk8.th.jpg (http://img184.imageshack.us/my.php?image=photo42qk8.jpg)

Worried2

February 22nd, 2007, 07:00 PM

I don't see the pictures conveying positive progress. One shows the usual project sign, which is usually posted before real construction and the other picture shows a construction site with not much progress.

I was hoping that IFA would sen dsome detailed pictures by now.

AltinD

February 23rd, 2007, 02:42 PM

^^ None of the pictures really shows the construction site. You can just notice that there is a hole but obviously Imre wasn't allowed to enter the site so he couldn't take a picture of what is inside the hole.

If we can see such picture, maybe you can push IFA to send you one, then we can judge at what stage the progress is.

Imre

February 23rd, 2007, 03:23 PM

yes, couldnt take pics closer because inside of JLT is not allowed to take pictures..

maybe after 6 months will be rising.

Worried2

February 23rd, 2007, 06:16 PM

We have some pictures from IFA (two months old by now). I don't know how to post them. I can do that only if I put a link to a site, which I don't. Is there a way to post pictures other than as a link to a site?

Worried2

April 6th, 2007, 07:51 PM

It's been a while since any one posted any thing.
Any update?

As far as I know, from a source who visited the site recently, this is the upate:

- Excavation done. There is a BIG hole.
- Piles are in. This is not a smal matter: these (I understand) are 30-40 meters deep. They are buried pillars to hold the building.
- Foundation has been laid.
- Some temporray retention of the walls (due to excacvation) is in place.
- Retention of the walls started, but not completed.
- It will be at least 3 monthsto see the building above ground.

To see that work is really progressing, we need an update an a confirmatin to see progress from the above.

Can any one help?

AltinD

April 6th, 2007, 08:02 PM

worried1

April 6th, 2007, 10:25 PM

^^ A forumer, Tom_Green, has been in a Helicopter photo tour just a couple of days ago, and another forumer, Dubaiflo, is supposed to go up there on Monday. I hope we'll be able to see something from their pictures, once posted.

AltinD: Lets assume that worried 2's post turns out to be accurate. Then what do you think would be a resonable project completion date.:cheers:

AltinD

April 6th, 2007, 11:13 PM

I still think 2009, not sure what quarter though. Remember that being a Hotel ads many extra months on the schedule.

worried1

April 9th, 2007, 01:14 PM

Mövenpick Hotel & Residence Laguna Tower Dubai
Construction Update – April 2007

In this update on Mövenpick Hotel & Residence Laguna Tower Dubai, we’re happy to report that everything is still on target for completion with the long stop date in your Sale & Purchase Agreement.

A lot has been happening onsite over the last few months and as a result the excavation to the formation level is now complete. Just this week, Jafza, the Jebel Ali Free Zone Authority, signed off on the pile layout survey, wrapping up this portion of the construction.

The next stage of development, which we expect to be finished by the end of April, will be to complete the waterproofing to the foundation, with the installation of reinforcement and concrete to follow. This will complete the installation of the foundation and make way for the structure to begin rising out of the ground. In approximately two weeks, we expect the lift pit to be finished, allowing the main core works to begin. Construction of the main core will begin ahead of the slab construction; rising from the ground with the floors following four levels behind.

Once out of the ground, we expect to complete the construction of one typical floor per week. China State, one of the world’s largest construction companies with vast high-rise experience, has been charged with construction and management of the main structural works, and will ensure construction proceeds as set out in the programme.

As we mentioned in our last update, we are currently in the process of building a full-scale, offsite mock-up of a completed Mövenpick hotel room. To date, the mock-up is 80 percent complete with the kitchen installed and the doors, joinery, and tiling to main areas complete. The bathroom is currently under construction and we are awaiting the arrival of the unit’s interior décor. The room should be available for you to view by the end of April. Should you wish to see the mock-up, you may do so upon its completion by contacting one of our sales executives on our UAE toll-free number 800 4322 or by emailing crm@ifahotelsresorts.com to schedule a date and time.

If you would like to drop into our newly opened Sales Centre opposite the Burj Al Arab Hotel on Jumeirah Beach Road to arrange your viewing, we invite you to take a moment to learn about our newest and largest integrated, mixed-use development, Kingdom of Sheba, on the crescent of The Palm Jumeirah. The development will offer a variety of investment opportunities from freehold villas, townhouses and apartments to Fractional Ownership and Vacation Ownership options. If you can’t stop by the Sales Centre in person, you can learn more about this project by visiting www.kingdomofsheba.com To lean more about IFA Hotels & Resorts’ other projects and news, please visit our recently revamped corporate website www.ifahotelsresorts.com

As always, should you require clarification on anything you have read in this update, or if you have questions related to this or any other IFA Hotels & Resorts’ project, please contact the Client Relationship Management (CRM) Department at crm@ifahotelsresorts.com

In reference to payment instalments, you must confirm your unit reference number to your bank for all transactions, e.g. LT 1234. Thereafter, please verify all deposits with IFA Hotels & Resorts’ Client Relationship Management (CRM) Department who will ensure your funds are allocated to the correct unit. Additionally, CRM will arrange a revised statement of your account and payment receipt once you confirm payment to CRM at crm@ifahotelsresorts.com

All instalments should be made in accordance with your payment schedule or as confirmed by CRM. By ensuring the timely transfer of funds, you will avoid interest charges at the rate of 1% per month for default payments. In order to expedite the processing of your enquiry, please quote your project reference number e.g. LT 1234 with all correspondence.

On a final note, we kindly request you inform the CRM Department should you change either your email address or contact details so we can inform you of your account and project status.

On behalf of

The Client Relationship Management Department
IFA Hotels & Resorts

Worried2

April 9th, 2007, 01:35 PM

It is unfortunate that we cannot post the photos. They show the excavation result, the piles....

I think they are moving with it now, and having started, I think two year will be needed as a minimum..., so we're talking 2009.

The question is, when can we see that one story-per-week really happening....

We will have to wait a couple of months at least!

worried1

April 9th, 2007, 02:02 PM

It is unfortunate that we cannot post the photos. They show the excavation result, the piles....

I htink they ar emoving with it now, and having started, I think two year will be needed as a minimum...

The question is, when can we see that one story-per-week really happening....

We will have to wait a couple of montsh at least!

They are still insisting "within long stop date" I think it was June 2008.:nuts:

worried1

May 7th, 2007, 02:27 AM

worried1

May 14th, 2007, 01:24 PM

IFA insists that the tower will be ready during the "Second Quarter of 2008":nuts:

Imre

May 15th, 2007, 05:02 PM

15/May/2007

Laguna Tower

http://img168.imageshack.us/img168/7789/imresolt34zd3.jpg (http://imageshack.us)

http://img411.imageshack.us/img411/4113/imresolt38qn4.jpg (http://imageshack.us)

worried1

May 16th, 2007, 02:55 AM

Imre,

Thank you for the Laguna tower. Based on the photographs it appears that the tower is still a few months away from rising above ground??:nuts:

Worried2

May 23rd, 2007, 10:31 PM

I suggest we challenge them since the "long stop date" is a year or so from now and it is physically impossible to have the building finished by then. In my case, the "long stop date" is October 2008. For some, it is June 2008, which is only a year from now. Even if they do a floor per week (which is challenging enough), they would need 40 weeks... that is once they are at that stage of building a floor per week, namely being above ground... which they are not. The 40 weeks would have the construction only done... how about all of the other work? Finishing is no easy task! A/C electrical work, water, landscaping, etc..... there comes a time when their "long stop date" just can't be met...

Perhaps such a challenge would have them come out of the closet and say something.
Of course, this depends on how many of us will challenge them!

Imre

May 24th, 2007, 07:25 PM

U/C!

24/May/2007

JLT , A plot spy photos from Almas Tower:)

http://i10.tinypic.com/4vimbl5.jpg

http://i9.tinypic.com/4otuff7.jpg

http://i12.tinypic.com/687ii6t.jpg

http://i14.tinypic.com/5x8yqnd.jpg

worried1

May 27th, 2007, 11:37 AM

Imre,

Thanks and Thanks again.

Which one of the A plot photographs you took is A 2:cheers:

worried1

May 27th, 2007, 11:40 AM

AltinD

May 28th, 2007, 09:50 PM

0Which one ... is A 2:cheers:

http://i9.tinypic.com/4otuff7.jpg

worried1

May 29th, 2007, 07:51 AM

Saw the A2 photograph at the airport lounge in Hong Kong.

Looks as if Dubai will eventually look like Hong Kong & Shanghai in the future.:banana:

jnas

May 31st, 2007, 03:10 PM

Their CRM department is told to say that. I bet 2 weeks before the long stop date they send an email detailing a delay, also detailing that its not their fault and you cannot have your money back. Based on what I saw last september (nothing) and comparing to existing buildings that were fully constructed it would take another 14 months to construct the floors I guess from now:

14months construct
10-14months internals (Hotel Standards)

So.. 24-28 months (2 years) so.. best guess is October 2009, may be even later. However it will be about the same time most other developments complete. Meaning you would have tied up your capital a long time and risk of over supply market.

Jnas

Worried2

June 21st, 2007, 06:53 PM

I agree with Jnas. They are playing with time. If your date is June, they say it will be ready by June. If your date is September, they say they will be ready by September, and so on. When they gave me a date, I told them this means others will be beyond the long-stop date. They kept quiet. They know they can't answer!

I also agree that the date will be in 2009, but may be not as late as Jnas suggests. It is tying capital for a long time and thank God they delayed the payments. However, in all of this, I am glad that it is moving. There is progress and the real test will be by the end of August. If the building is really above ground and constructon starts by that date, then we can see more movement.

worried1

June 22nd, 2007, 03:11 AM

Worried2

June 23rd, 2007, 03:01 PM

I think because we signed contracts at various dates, they send us messages with different dates. So far, I received two delays of payments, so by September, if they are slow, they may send you one note delaying the payment.

They are also using the same tactic with the date of completion. To some, they say October 2008, which accommodates one year for the long-stop date, and to others they say June 2008, also accomodating one year for the long-stop date... very carfty!!!

I like these photos as they show us the progress. Do we have newer ones? Have they poured the concrete for the foundation? They promised to do that in June!!! If that happens, their projection (hard ot believe) is that in August (only few weeks from now), we'll start seeing the construction above ground, with four floors every month.... I'll relax if that happens!

pk1589

July 23rd, 2007, 03:11 PM

Mövenpick Hotel & Residence Laguna Tower Dubai Construction Update – July 2007

Construction of Mövenpick Hotel & Residence Laguna Tower Dubai is still progressing according to plan and we’re happy to report that everything is still on target for completion in the fourth quarter of 2008.

Onsite work is now progressing at a steady pace with the raft slab steel and the testing of in-ground services now complete. Upon JAFZA’s final inspection of the steel, we began pouring concrete to the raft, which turned out to be quite an achievement in that we managed to pour over 5,000 cubic metres of concrete in under 24 hours. The pour started at 2am on 29th June and was completed at 11pm on 30th June. This is over 230 cubic metres per hour. Each concrete truck holds approximately eight to ten cubic metres of concrete, so we were able to process over 25 trucks per hour, using six pumps.

The biggest achievement of this pour was the contractor’s ability to have six pumps on site working full time, allowing us to complete the pour in half the expected time.

We anticipate another 25 days for completion of the substructure up to ground level and expect to see Mövenpick Hotel & Residence Laguna Tower Dubai rising from the ground by August and moving into a typical six-day build per floor cycle.

We have begun to erect both tower cranes, with the base of these being cast into the raft slab. With the concrete being poured this week, we will begin to complete the full erection of the cranes. Having the cranes on site will, of course, help to speed up the construction process.

All major specialist sub contractors are now on board including those appointed to handle mechanical, engineering, plumbing, lifts, curtain walling and glazing.

Since our last update, IFA Hotels & Resorts officially launched its first YOTEL in London’s Gatwick Airport. YOTEL is a new hotel concept that’s redefining the global hotel industry and making travel more enjoyable. Designed upon the technology and advanced use of space seen in business class airline cabins and luxury yachts to realise the two tier YOTEL cabin system, YOTEL cabins come as ‘Premium’, (with a full size double bed) or ‘Standard’ (with a large single bed). Both cabins have enough room for two as well as en suite bathrooms and in-cabin entertainment. For more information on how you can upgrade your next stopover into a YOTEL experience, visit www.yotel.com

As always, should you require clarification on anything you have read in this update, or if you have questions related to this or any other IFA Hotels & Resorts’ project, please contact the Client Relationship Management (CRM) Department at crm@ifahotelsresorts.com

In reference to payment instalments in accordance with your payment schedule, you must confirm your unit reference number to your bank with all transactions, e.g. LT 1234. Thereafter, please verify your payment transfer to IFA Hotels & Resorts’ CRM Department who will ensure your funds are allocated to the correct unit. Additionally, CRM will then arrange a revised statement and payment receipt once you confirm the transfer to CRM at crm@ifahotelsresorts.com

All instalments should be made as per your payment schedule or as confirmed by the CRM Department. By ensuring the timely transfer of funds, you will avoid interest charges at the rate of 1% per month on all default payments. In order to expedite the processing of your enquiry, please quote your project reference number e.g. LT 1234 in all correspondence.

On a final note, we kindly request you inform us should you change either your email address or contact details so we can inform you of your account and project status.

Kind Regards,

On behalf of

The Client Relationship Management Department
IFA Hotels & Resorts

worried1

July 25th, 2007, 03:04 AM

AltinD

July 26th, 2007, 03:49 PM

Was 4th quarter of 2008 the "schedule"?

worried1

July 27th, 2007, 03:06 AM

Was 4th quarter of 2008 the "schedule"?

It is about a year late. Perhaps you will now be able to see the construction on your way to work and goive us an :cheers: update.

AltinD

July 29th, 2007, 11:00 PM

Still it will be impossible to be completed by that time ... and I'm talking about the structure, let alone the furbishing of the hotel.

worried1

July 30th, 2007, 12:33 AM

Still it will be impossible to be completed by that time ... and I'm talking about the structure, let alone the furbishing of the hotel.

Given your experience in these matters; what is your estimate?:)

AltinD

July 30th, 2007, 12:42 AM

^^ I really don't know, so many factors on play here, plus without seeing the actual construction progress, it will be difficult to predict.

However I would advice you, as of now, to prepare for not earlier then summer 2009 handover.

I hope I'm wrong and it really happen earlier though. :cheers:

Krazy

July 30th, 2007, 05:48 AM

^^ a bit optimistic imo for a 40 storey tower.

worried1

July 31st, 2007, 01:10 PM

Received an ammended invoice.

20% payment has been deferred from Oct 2007 to Feb 2008.

20% due June 2008

10% due on completion.

So it looks as if they might be shooting for the Dec 2008 time frame.:lol:

Imre

August 14th, 2007, 02:24 PM

rising

14/Aug/2007

LAGUNA TOWER

http://img458.imageshack.us/img458/6378/imresolt26ic9.jpg (http://imageshack.us)

http://img458.imageshack.us/img458/2921/imresolt27zi1.jpg (http://imageshack.us)

naive2007

August 29th, 2007, 09:09 PM

I am being seriously misled in relation to an issue I have, but can't find any org chart on IFA as to know who to complain. Should I go to Werner Burger or am I wasting my time ?

Heeno

September 5th, 2007, 05:08 PM

Hi , just joined the forum and wanted to add the the following update received today from IFA........................

In reference to your email, I have been advised that now the building is out of ground, once the contractors have completed the first few floors the super structure build becomes standard and progress will be rapid. We are in the process of completing the lower floors as they are a more complicated layout and we have already started the build of the core main floors. The structure is already out of the ground and above the existing DMCC (Master Developer) car parking structure which means we are well inside the completion programme schedule. Additionally, we have delay time built in should the need should arise.

Basic guidelines for completion dates are as follows:
Level 10 structure complete January 08
Level 20 structure complete March 08
Level 30 structure complete May 08
Level 40 structure complete July 08

We expect to see the curtain walling and glazing being fixed by the time the structure reaches level 15 or thereabout followed by the closing of the building and the internal finishes which will be aligned.

I wish to confirm that we are on track to complete within the long stop date stated in your Sale and Purchase Agreement fourth quarter of 2008.please be advised that the total no of the hotel units are 168 all soled out.
I hope the above information is helpful. Meanwhile should you require any further assistance please do not hesitate to contact myself or the Client Relationship Management (CRM) Department at crm@ifahotelsresorts.com who would be delighted to help.
Regards

Emad Nassef
Customer Services Executive

IFA Hotels & Resorts
Boutique Office 6
Knowledge Village, Dubai Media City
P.O.Box 502164, Dubai; UAE
T + 971 4 391 2022
F + 971 4 366 4644 E emad@ifahotelsresorts.com
www.ifahotelsresorts.com

worried1

September 6th, 2007, 03:43 AM

Suppose they complete Level 40 in JUly 08--Do you think they can deliver in fourth quarter of 2008:cheers:

Hi , just joined the forum and wanted to add the the following update received today from IFA........................

In reference to your email, I have been advised that now the building is out of ground, once the contractors have completed the first few floors the super structure build becomes standard and progress will be rapid. We are in the process of completing the lower floors as they are a more complicated layout and we have already started the build of the core main floors. The structure is already out of the ground and above the existing DMCC (Master Developer) car parking structure which means we are well inside the completion programme schedule. Additionally, we have delay time built in should the need should arise.

Basic guidelines for completion dates are as follows:
Level 10 structure complete January 08
Level 20 structure complete March 08
Level 30 structure complete May 08
Level 40 structure complete July 08

We expect to see the curtain walling and glazing being fixed by the time the structure reaches level 15 or thereabout followed by the closing of the building and the internal finishes which will be aligned.

I wish to confirm that we are on track to complete within the long stop date stated in your Sale and Purchase Agreement fourth quarter of 2008.please be advised that the total no of the hotel units are 168 all soled out.
I hope the above information is helpful. Meanwhile should you require any further assistance please do not hesitate to contact myself or the Client Relationship Management (CRM) Department at crm@ifahotelsresorts.com who would be delighted to help.
Regards

Emad Nassef
Customer Services Executive

IFA Hotels & Resorts
Boutique Office 6
Knowledge Village, Dubai Media City
P.O.Box 502164, Dubai; UAE
T + 971 4 391 2022
F + 971 4 366 4644 E emad@ifahotelsresorts.com
www.ifahotelsresorts.com

jnas

September 11th, 2007, 01:11 PM

Have to be realistic.

From what I can see now, progress has been slow. It will take at the least 9months to build and 9-12 months to refurbish (Hotel Standard). So still 2 years away. You really have to compare with other similar developments.

If they overshoot the longstop I doubt anyone will get their money back. They will cite it was not in their hands. Try pressing them regarding the longstop date.

sonakash

September 16th, 2007, 06:44 PM

worried1

September 17th, 2007, 03:02 AM

Have you seen any new pictures of the project, 2 year delay is frustrating and has made me put off investment in other IFA projects in other countries, once the trust is broken it is difficult to mend it. Does anyone know what is the selling rate per square foot of this project?

Me too, I have given up on Dubai, due to delays and lack of information. A 2 (no pun intended Plot A2) year delay messes up the ROI badly. IFA though has been good with other projects, eg the yacht ownership program has been excellent:nuts:

jnas

September 20th, 2007, 11:41 PM

If you press IFA on the likely hood of completion. They will still maintain the same longstop date. But its impossible.

If your not happy they will resell your apartment for a premium. Not bad.. No wonder the company is doing so well. :).

Reselling of giving you your money back with basic rate of interest is a get out clause for them.. They take the least risk in this.

worried1

October 3rd, 2007, 04:26 AM

Actually based on what happening on the global markets at the moment.

I'd advise to seriously consider selling now especially if you are getting a significant permium. No harm in testing the waters. Contact the resell department and see what response you get (Obviously they will mark it up, but actual interest is more important). Once its completed 2009 and you try and sell you will be competing with 1000s of others trying to sell, as most of the projects complete in 2009 and JLT has 89 towers!.

I cannot see an exit stratergy then...

Good point

worried1

October 23rd, 2007, 05:02 AM

OK folks,

They insist that delivery will take place at the end of 2008 and that the basement has been completed.

One floor week =40 weeks ( 1 floor a week) and 8 weeks to complete all the internals, wiring,testing delivery etc, Who are they kidding

End of 2009 perhaps???:ohno:

AltinD

October 23rd, 2007, 12:02 PM

^^ I also think that end of 2009 is more likely ... if they do go by the 1 floor/week or 10 days cycle.

Once again the amateur developer doesn't realise yet that the building will be a 5 star hotel and it will take ages to furbish it all.

jnas

October 24th, 2007, 01:58 AM

IFA are really dragging their feet with this development. There are so many towers up in JLT and they are still 18months away from handover. I agreed hotel standard will take a lot longer. End of 2009 is realistic, assuming no hitches.

Unfortunatly 22hotels and 1000s of apartments will be completed all at the same time. I'm concerned about the oversupply.

BTW movenpick website quotes project opening 2009 for laguna tower.

Worried2

November 3rd, 2007, 02:55 PM

Few points to point out:

1. We need to remember that owners don't have the same long-stop date. We all signed at different dates and they made it two years from that date. To some, the long-stop date is June 2008! Now they are never referring to this date as it is rediculous to do so, but those with this date should pressure IFA so that they come out of the closet.

2. They mentioned that by January, they will have 10 floors... and so on. This is the first time they are definite about the dates and floors, which I found positive. If that's the case, we should have the first 1-3 floors up by now. Any news other than the basement has been completed?

3. I checked Movenpick site and they actually say they will be open 2008 (not 2009)!!!!!! I have nothing to do with Movenpick as my purchase is from IFA, but those who purchased from Movenpick can also put pressure on them.

4. Anybody knows what the effect of the workers strike on this project?

5. Any new photo?

Regards.

Imre

November 5th, 2007, 10:33 AM

02/November/2007

Laguna Tower

http://img251.imageshack.us/img251/1268/imresolt005xp2.jpg (http://imageshack.us)

http://img441.imageshack.us/img441/4741/imresolt006ob0.jpg (http://imageshack.us)

Imre

November 5th, 2007, 10:38 AM

05/November/2007

JLT plot A1,A2,A3

A1 New Dubai Gate 2 (right one , rising)
A2 Laguna Tower (Middle , rising)
A3 Lake Side Residence (left one , red crane is there should be rising soon)

http://img261.imageshack.us/img261/3791/imresolt02eo2.jpg (http://imageshack.us)

http://img444.imageshack.us/img444/2646/imresolt03ba7.jpg (http://imageshack.us)

http://img261.imageshack.us/img261/2262/imresolt04uv1.jpg (http://imageshack.us)

http://img261.imageshack.us/img261/9675/imresolt08ce9.jpg (http://imageshack.us)

worried1

November 5th, 2007, 02:03 PM

Great pictures and thanks.

Looks as if handover could happen by summer 2009. Any thoughts that now the tower is out of the ground:cheers:

Heeno

November 8th, 2007, 02:10 PM

Please find below the Latest Movenpick Construction Updates, I hope the following information is helpful.

Mövenpick Hotel & Residence Laguna Tower Dubai Construction Update – November 2007

In this latest Movenpick Hotel & Residence Laguna Tower Dubai project update, we are happy to report that the development remains on target for completion in the fourth quarter of 2008.* We have enclosed a recent photo of on-site construction progress which we trust will be of interest to you.

You will be pleased to know that work is progressing at a steady pace with the basement level structure now complete. The basement structure was a complicated design that incorporates the retail units which will operate as part of the hotel and residential tower in addition to integrated parking. It was essential that these areas were complete first in order to allow DMCC (the master developer) to proceed with the build and development of the surrounding walkways, promenade and lake wall structures.

Two tower cranes have been erected allowing easier delivery of materials to the workface. The core structure has now passed ground level and is currently three levels above the existing car park structure. The main structure is now also complete up to fitness level floor and formwork is currently being placed to complete the typical 1st floor. We are pleased that we are currently meeting all construction target dates on an ongoing basis.

Structurally, the hardest part of the tower is now over and with the completion of ground and fitness level, we will now proceed to build the typical floor layouts whereby we should see a floor per week being added to the structure.* Thereafter, there is a huge amount of standard repetition work. We expect that the first two or three levels may take a little longer to build until the contractor establishes the pace for the standard floor construction build.* We did encounter some initial problems with regards to concrete delivery from our supplier.* Due to the limited number of concrete companies operating within the UAE, the high demands for concrete in Dubai potentially posed an issue.* We have however still managed to meet build deadlines despite this fact and endeavor to do so going forward.*

We are in the process of finalising all major sub contractors and suppliers for eg. lifts, sanitary ware, curtain walling, lighting, interior fit-out, FF&E and tiles. These items are critical to the success of the project and require long lead times from our suppliers regarding orders and delivery. We can expect to being curtain walling and glazing during the 1st quarter of 2008 which will follow the structure build and allow for internal finishing to commence.

Construction Progress Timeline:
•********* Level 10 structure to be completed by January 2008
•********* Level 20 structure to be completed by March 2008
•********* Level 30 structure to be completed by May 2008
•********* Level 40 structure to be completed by July 2008

worried1

November 9th, 2007, 03:35 AM

^^

Would anyone care to comment on the latest time line; handover at the end of 2008.

Imre, Altin D

Thanks:cheers:

Imre

November 9th, 2007, 12:45 PM

yes, impossible:)

Q3-Q4 of 2009 is more possible .

Imre

November 29th, 2007, 02:14 PM

29/November/2007

Laguna Tower

http://img152.imageshack.us/img152/8048/imresolt01ij3.jpg (http://imageshack.us)

http://img254.imageshack.us/img254/899/imresolt03cq4.jpg (http://imageshack.us)

worried1

November 30th, 2007, 05:21 AM

^^

Imre far better information from you than IFA:nuts:

AltinD

December 14th, 2007, 09:39 AM

Compared with what I saw today, it seams they are going with 1 floor in 2 weeks cycle.

Imre

December 18th, 2007, 02:16 PM

18/December/2007

Laguna Tower

http://img255.imageshack.us/img255/3691/imresolt06ky3.jpg (http://imageshack.us)

http://img339.imageshack.us/img339/6136/imresolt15xj3.jpg (http://imageshack.us)

worried1

December 19th, 2007, 03:22 AM

Imre thanks for the latest photographs.

Based on your latest posting and the one before that, it looks as if 4 storeys are constructed, so I think they can do another 6 by the end of Jan 2008. That means they are on their advertised schedule as far as the structure is concerned:banana:

ferrari430

December 21st, 2007, 10:15 PM

structure could be completed by end 2008 but it will take at least 1 more year to do the cladding and interiors.

rexdmx

December 22nd, 2007, 10:28 AM

^^ actually it would take more seeing that this is a hotel which would be fully furnished etc.

sonakash

December 30th, 2007, 07:38 PM

According to Emporis.com, the largest data base for high risers, the construction for Laguna Tower will end in 2009. just for every bodies info.

rexdmx

December 31st, 2007, 11:53 AM

^^ emporis gets its info from here!!

worried1

December 31st, 2007, 01:02 PM

According to Emporis.com, the largest data base for high risers, the construction for Laguna Tower will end in 2009. just for every bodies info.

Example: Emporis has Kensington Royale as being completed 2008. Construction has barely started there.

Good site though. Lots of info

sonakash

January 2nd, 2008, 11:30 PM

If Imre could be kind enough to take and post pictures in the beginning of feb. 08 to show us the progress in construction and whether deadline is met and 10 floor milestone is accomplished, would be greatly helpful and appreciated.

AltinD

January 3rd, 2008, 11:22 AM

The editors at Emporis site are mostly SSC forumers and moderators. ;)

Imre

January 8th, 2008, 05:01 PM

08/January/2008

Laguna Tower

http://img408.imageshack.us/img408/3664/imresolt073gu1.jpg (http://imageshack.us)

worried1

January 8th, 2008, 10:56 PM

^^

Imre, how do you count the floors. Is it four completed or 2 completed.

Thanks:)

sonakash

January 9th, 2008, 06:46 AM

Compared to the building next door, ground plus 6 storeys is what is apparent.

Imre

January 23rd, 2008, 06:17 PM

23/January/2008

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

http://img90.imageshack.us/img90/7179/imresolt22me9.jpg (http://imageshack.us)

worried1

January 24th, 2008, 03:56 AM

Tony 90

January 24th, 2008, 01:18 PM

I make it ground plus eight? Certainly 2 floors since 8th Jan.

worried1

February 19th, 2008, 08:35 PM

They are asking for another 50000Dh. Is this common in Dubai for hand over:ohno:

Mövenpick Hotel & Residence Laguna Tower Dubai Construction Update – February 2008

In this latest Mövenpick Hotel & Residence Laguna Tower Dubai update, we are pleased to announce that the overall project is progressing rapidly and the development remains on target for completion during the fourth quarter of 2008.

We have enclosed a recent photo of on-site progress which we trust will be of interest to you, however if you are in Dubai you can see the tower as you pass from the Sheikh Zayed Road.

Currently, we are due to complete level 8 of the structure to form slab and columns. The main core works, e.g. lift shafts and stairwells, are ahead of schedule by 2 floors. We recently experienced a small delay with progress on site due to Eid, Christmas and the New Year public holidays where we lost approximately 8 days in total to the programme. We expect to regain this time over the next 2 months and we’ll keep you informed of all progress made throughout the coming months.

Both tower cranes are fully erected and are currently ongoing tie in the building structure positioned at level 7. This is standard build procedure which enables the tower cranes to move upwards in order to stabilize the additional tower sections. We have also erected our man material hoists which will allow easier access for loading materials to each floor as building works progress. Block work is now complete in basement levels and we expect to start this week on level two, to form typical hotel rooms. Curtain walling is commencing this month.

Sub contractors and suppliers are in full flow to handle lifts, sanitary ware, curtain walling and lighting. We expect to finalize lighting and FF&E within the next few weeks. These items are critical to the success of the project and require long lead times from our suppliers in respect of order through to delivery. We can expect to being curtain walling and glazing during the 1st quarter of 2008 which will follow the structure build and allow for internal finishing to commence.

The Master Developer has also moved up a gear and started construction of the remainder of the a-joining parking structure. We expect them to begin construction of the promenade and concourse level walkways within the next few months.

We still face a number of problems outside the remit of our control namely the supply of concrete to the project. This is a major issue throughout Dubai and all projects due to high demand. To minimize this problem we have since selected a third supplier as a backup in the event we need to call upon alternative resources to reduce any possible delays and have thus submitted all testing requirements to the local authorities for approval. We remain hopeful we are able to continue as per programme.

Construction Progress Timeline are as follows:

Level 10 structure completed during January 2008
Level 20 structure to be completed by March 2008
Level 30 structure to be completed by May 2008
Level 40 structure to be completed by July 2008
On another note, we are delighted to have handed over our first project on The Palm Jumeirah, The Palm Residence, which commenced throughout December 2007. Both IFA Hotels & Resorts and our investors have been delighted with the finished product as we are sure you will be when we transfer your units at hand over.

Towards the end of last year, IFA Hotels & Resorts announced its entry into two new markets - the Netherlands and the US. The company is opening a third YOTEL hotel in Amsterdam Airport Schiphol. Construction of the 55 cabin YOTEL has started with plans to welcome guests early 2008. Two YOTELs are now open in the UK, one in Gatwick Airport’s South Terminal and the other in Heathrow Terminal 4.

IFA Hotels & Resorts made its first investment into North America by partnering up with leading US real estate developer, Related, to build a hotel in New York City. These two investments signify the company’s continued aggressive expansion into international markets.

Additionally, the Zanzibar Beach Resort has been refurbished and re-opened last November as a Fairmont property – the Fairmont Zanzibar. Guest may now enjoy a full African experience, from the continent’s famed snorkelling and diving to its safaris and beaches, within our East Africa collection.

The Dubai property market is becoming more sophisticated and is currently gearing towards international real estate standards which is great news for investors and developers alike. Near to the time of hand over, IFA Hotels & Resorts will be employing the services of a professional company to survey all units to ensure the actual size of your apartment is recorded for title registration with the Dubai Lands Authority. Details of the survey, once complete, will be issued at a later date along with an indication of other costs associated with transferring title and completion. Other costs include; Master Community/Service charges, Jumeirah Lake Towers district cooling (air conditioning), property registration, area adjustment fees and Dubai Electricity & Water Authority (DEWA) connection. Near to completion and hand over, a surveyed floor plan will be issued as part of the hand over of your unit and you may be interested to know that various publications reporting on the UAE property market advise investors to set aside in the region of fifty to sixty thousand Dirhams in advance of hand over. This appears to be the average cost of transferring an apartment that is not subject to an area adjustment correction however we will confirm once we are in a position to do so.

As always, we kindly request you ensure the timely transfer of payments in accordance with your payment schedule to avoid interest charged at 1% per month on default payments. Always quote your unit reference number to your bank prior to transfer e.g. MLT 1234. Please forward copies of your actual payment remittance transfer to crm@ifahotelsresorts.com. Once received, CRM will ensure that funds are allocated to the correct unit, request a revised statement, payment receipt and update your records accordingly.

The CRM Department remains your dedicated point of contact. For all project and payment related queries, please contact the CRM Department at crm@ifahotelsresorts.com who will be delighted to help.

On a final note, we kindly request you to inform the CRM Department in the event you change your email address or contact details enabling us to remain in contact regarding your account and project status.

Kind Regards

On behalf of

The Client Relationship Management Department
IFA Hotels & Resorts