New Palazzo Versace Resort in Dubai to commence early 2006

Gianni Versace SpA, Sunland Group Limited and Emirates International Holdings announced today the development of a second Palazzo Versace Resort in the Arabian Bays on the Dubai Creek, Dubai, as part of an overall precinct being developed by Dubai Properties.


http://www.ameinfo.com/images/news/6/14826-versace.jpg
Dr Versace (Center).

The Versace Group together with Australian Property Developer, Sunland Group Limited, who opened the first Palazzo Versace on the Gold Coast in September 2000, identified the Middle East as the next potential region for a Versace resort - the ultimate experience in luxury vacationing. A joint venture was subsequently drawn up between Sunland Group Limited and Emirates International Holdings and in December 2004 the centrally located waterfront site on Dubai Creek was identified as the most suitable location. In March 2005 Emirates International Holdings entered into an agreement with Dubai Properties to acquire the land for the development of the resort.

The Palazzo Versace Dubai will include c. 215 suites, restaurants, a spa and 204 luxury villas all conceptualized by the Versace Group and Sunland Group Limited and fully furnished with a specially designed line of products from the Versace Home Collection. Plans for the multi million dollar Palazzo Versace will be refined by September, with the view to commencing construction by early 2006 and to open in 2008.

Managing Director of the Versace Group, Dr. Giancarlo Di Risio said 'The idea of bringing the Versace philosophy of luxury and style to the ultimate in resort vacationing is a natural combination. We were the first luxury group to develop a branded hotel and this is an important part of the Group's strategy for the future'.

President of the Versace Group, Dr. Santo Versace added 'The design of the Palazzo Versace will include all of the trademarks of Versace style and glamour while incorporating the needs of the local environment. Palazzo Versace will provide the ultimate destination for those wanting a taste of the 'Versace' lifestyle within a dynamic and modern environment like Dubai.'

Sunland Joint Managing Director, Mr Soheil Abedian, stated 'As a result of the Versace Group's indelible imprint in the world of fashion, today the 'Versace' name is synonymous for luxury, glamour and above all exceptional quality. These are the attributes that characterize the Palazzo Versace resorts in Australia and in Dubai. It is an ambitious collaboration, but one which is backed by the enthusiasm and passion of two partners with a like-minded commitment to innovation and excellence.'

'With buoyant markets and an enhanced regulatory framework in the UAE, the tourism and hospitality industry has been a major area of growth in recent years. With Dubai at the forefront of development, we are sure that the Palazzo Versace Hotel and Condominium Resort will soon develop into an exclusive location for tourists and residents in the city,' said Reza Jaffar, Managing Director, Emirates International Holdings.

The joint venture of Sunland and Emirates International Holdings, will be known as Emirates Sunland Group and will be responsible for the development and management of Palazzo Versace Dubai. The Versace Group will be responsible for all aspects of content, design and style, including architecture, interiors, furnishings and amenities using specially designed items from the various Versace collections.

the first time we hear about this hotel and the arabian bays project!

good to know all this is real :)

great to hear that.i am curious what more will happen in arabian bay

Dubai Creek to get Versace brand hotel

By Saifur Rahman, Staff Reporter

Dubai:
UAE-based investors Emirates International Holdings (EIH) and Australian developers Sunland Group are rolling out a Dh2.56 billion ($700 million) hotel, to be run by Versace the famous fashion and lifestyle brand.

The 215-suite Palazzo Versace Resort will be located in the Arabian Bays on the Dubai Creek, as part of an overall neighbourhood being developed by Dubai Properties. In March, EIH signed an agreement with Dubai Properties to acquire the land for the development of the resort.

It will be developed on a 130,000 square metre plot of prime land, in which an artificially-created temperature-controlled beach will serve mainly upmarket leisure travellers.

The design and development plan of Palazzo Versace is expected to be finalised in September, so that construction can begin early 2006.

To be opened in 2008, this would be the second designer-labeled hotel following Armani's announcement to penetrate the market.

"The design of the Palazzo Versace will include all the trademarks of Versace style and glamour while incorporating the needs of the local environment. Palazzo Versace will provide the ultimate destination for those wanting a taste of the 'Versace' lifestyle within a dynamic and modern environment like Dubai," said Dr. Santo Versace, president of the Versace Group.

The project will also include 220 condominiums that will be offered to selected high-profile investors on a freehold basis.

The Versace Group together with Australian Property Developer, Sunland Group Limited, who opened the first Palazzo Versace on the Gold Coast in September 2000, identified the Middle East as the next potential region for a Versace resort .

EIH and Sunland has created a 50:50 joint venture, Emirates Sunland, to develop the hotel which is part of a global roll-out that will see more Palazzo Versace Resorts coming up in major gateway cities of the world, officials said.

Earlier, EIH acquired a 50 per cent stake in Sunland's Palazzo Versace Resort in Gold Coast for $40 million.

Sharjah-based Swiss-Arabian Perfumes and Emirates Neon are some of the companies behind the EIH. Abraj Capital recently acquired a 34.5 per cent stake in the company.

EIH, with a Dh250 million capital base, is expected to raise capital further by going public.

Emirates Sunland Group will develop the Palazzo Versace Dubai hotel.

Arabian Bays is a project currently under planning stage by Dubai Properties, which will be adjacent to its Business Bay project.

I think i stayed in a hostel right next to this one in surfers...

cant be shore though, id have to see a map.

Versace hotel planned for Dubai Creek

Versace Group, Sunland Group Limited and Emirates International Holdings (EMI) has announced the development of a second Palazzo Versace on the Dubai Creek to follow the boutique designer hotel’s first venture on Australia’s Gold Coast in 2000.

The Versace Group, together with Australian property developer Sunland Group Limited identified the Middle East as the ideal location for its second luxury hospitality venture, and a joint agreement was subsequently drawn between the two companies and EMI in December 2004. In March EMI arranged with Dubai Properties to acquire the land on the centrally located waterfront opposite the Creek Golf Club, a site believed by the company to be suitable for Palazzo Versace.

At a project cost in excess of US $650 million, the plans for the property are scheduled to be finalised by September and construction to begin in early 2006 with a finishing date of 2008. The House of Versace was the first fashion house to market the concept of a branded ‘designer’ hotel, and has since been followed into the market by Armani and Bvlgari amongst others.

“The idea of bringing the Versace philosophy of luxury and style to the ultimate in resort vacationing is a natural combination. We were the first luxury group to develop a branded hotel and this is part of the group’s strategy in the future,” says Giancarlo Di Risio, managing director of the Versace Group.

Everything in the hotel, from the chairs to the bed linen will be branded Versace. “Palazzo Versace will provide the ultimate destination for those wanting a taste of the Versace lifestyle within a dynamic and modern environment like Dubai,” claims Santo Versace, president of the Versace Group.

great for dubai............
i cant afford it though!!!..............

most of us cant afford most of the projects in dubai :)

I'm sure when it will be compleated my boss will spend 1 - 2 weeks there. He comes at least twice a year and he have stayed in all top hotels in Dubai, exept Al Qasr, where he's planing to stay his next visit later this year. He brings his family with him most of the times. When he's here, I always pass the weekends in his hotel, by the pool, so it is like I have stayed there as well.

I have family relation with his wife (not a cousin, but we have common cousins), I know her since 2 decades, so my presence isn't intrusive or something.

the whole project might be released soon
here's some more, didn't want to create a new thread yet

altin - this could be the secret project we saw a model of at cityscape with the sign "to be announced soon"!!!



Arabian Bays work to begin this year

By Saifur Rahman, Staff Reporter

Dubai: Work on the Dh3.67 billion infrastructure package for the Arabian Bays is expected to begin during the fourth quarter of the current year, according to Meed Projects.
Arabian Bays, a community masterplan development that will cover the entire Jaddaf dry dock area from the Garhoud Bridge and connect to the Business Bay, has yet to be officially announced by Dubai Properties, a real estate entity of Dubai Holding.

The project is another mega mixed use development that will compliment Dubai creek's shoreline.

Jaddaf-based small ship repair companies will gradually shift to Dubai Maritime City (DMC) which is being built on reclaimed land on the Gulf between Port Rashid and Dubai Drydocks. DMC will be up and running late next year....

somehow the gulf news article is not complete :bash:

versace i've heard that he gold cost hotel of versace is already beautiful so i'm sure thisone will be also.

Dubai is growing at such a fast pace that its infrastructure cannot keep up, according to Hussain Nasser Lootah, Assistant Director General of Building and Planning for Dubai Municipality.

Lootah was addressing more than 100 industry leaders at MEED's 2nd Major Project Developments in Dubai conference.

The population of the emirate has grown at an average annual rate of 6.4 per cent while the number of cars on the road by 10 per cent each year, as opposed to an international average of 2 to 3 per cent.

Lootah said: 'Projects in Dubai are so fast-moving that the infrastructure, including the roads, public transport, and utilities cannot keep up.'

The Dubai government has spent a total of $2.5 billion on the city's network of roads up to the end of 2004, covering an ever-increasing total of 9,600 kilometres.

'It is not the lack of roads that is necessarily the problem, but the general mismanagement of the travelling system' said Lootah.

'Driver behaviour is a major issue, with many households using more than one car, and employees commuting to work daily from other emirates. As an example, 250,000 cars make the journey between Dubai and Sharjah every day.'

Lootah revealed Dubai Municipality's plans for a traffic control centre, providing intelligent information for drivers to avoid high congestion areas and accidents.

He also outlined Dubai Municipality's move to increase environmental awareness in the city. At present, there are 25 square metres of green area per capita in Dubai (correct until 2012), which represents 3.4 per cent of Dubai's total urban area. The government has set targets to raise this to 8 per cent.

Commitment to the environment is one of the government's areas of focus, he said, pointing to measures installed to measure air quality, medical and hazardous waste, and oil spills.

Dubai's population, recorded at 1.1 million at present, could reach 4 million by 2017.

Meanwhile, Dubai Municipality gave an overview of new areas under development, including Jadaf, a mixed-use area covering residential, commercial and hotels to be developed by Dubai Holding.

Also under development are Al Raas and Deira Sea Corniche, as well as the 1,100 hectare University Village with residential campuses along the main Emirates Road artery.

Lootah said: 'As the city spreads, the old industrial areas need further development, which is why we are looking at them now.'

The second MEED Major Projects in Dubai Conference is on at the Mina A'Salam, Madinat Jumeirah in Dubai, on December 6 and 7. Already confirmed as sponsors are Nakheel and Cadillac.


This only means one thing (arabian bay) :soon:

Palazzo Versace Resort blends heritage and haute couture in the Culture Village

Dubai Properties, a member of Dubai Holding, has signed an agreement with Emirates Sunland Group (ESG) to develop the AED 2.56 billion Palazzo Versace Resort located at the Culture Village.
United Arab Emirates: 10 minutes ago

http://www.ameinfo.com/images/news/2/25882-DPEIH.jpg
Hashim Al Dabal, CEO, Dubai Properties, Soheil Abedain, Joint Managing Director, ESG, and Raza Jafar, Managing Director, Emirates International Holdings (EIH).

The signing ceremony took place in the presence of Hashim Al Dabal, CEO, Dubai Properties, Soheil Abedain, Joint Managing Director, ESG, and Raza Jafar, Managing Director, Emirates International Holdings (EIH).

The 215-suite Palazzo Versace Resort will be developed on 130,000 square meters of prime land in the Culture Village along Dubai Creek, being developed by Dubai Properties.

Hashim Al Dabal, CEO, Dubai Property said:

'Dubai Properties' partnership with ESG is in line with our long-term strategy to develop a diversified portfolio of world-class real estate projects that focus on unique value creation."

'Culture Village represents a fusion of traditional and contemporary concepts, and Palazzo Versace's trademark of art and glamour reflect those essentials, while complementing the dynamics of the local environment.

'It is an ambitious collaboration, but one that is backed by the enthusiasm and passion of two partners with a like-minded commitment to innovation and excellence,' Al Dabal added.

Conceptualized by the Versace Group and ESG, Palazzo Versace Dubai will include 220 condominiums, restaurants, a spa and 204 luxury villas that will be furnished with an exclusive line of products from the Versace Home Collection. A highlight of the project is an artificial temperature-controlled beach to attract the elite leisure traveller.

Soheil Abedain, Joint Managing Director, ESG said: 'Palazzo Versace is the evolution of the Versace lifestyle where the expression of the mason's heritage, design and furnishing flair is translated through every detail of the hotel and condominiums. Combined with Italian architecture, contemporary style and craftsmanship, the concept represents a unique offering to the discerning client.'

The Emirates Sunland Group is a 50:50 joint venture between UAE-based investors Emirates International Holdings and Australian developers,theSunlandGroup.

Raza Jafar, Managing Director, ESG said: 'The Emirates Sunland Group has been created as a joint venture company to target the regional and international hospitality industry. With the Palazzo Versace Dubai, we shall be offering the ultimate experience in resort vacationing to the sophisticated traveller.'

The Palazzo Versace hotel and condominium resort property in Dubai will be offered to select investors on a freehold basis.

:eek2: Palazzo Versace Resort :eek2:

http://www.palazzoversace.ae/

R

http://www.palazzoversace.ae/library/large3/9.jpg

http://www.palazzoversace.ae/library/large3/2.jpg

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And look on the corners of these two images :D

http://www.palazzoversace.ae/library/large3/1.jpg http://www.palazzoversace.ae/library/large3/4.jpg

Emirates Sunland Group bring Palazzo Versace Hotel team to Dubai

Sunland Group, an Australian based property development company, has permanently relocated 22 members of their design, construction and sales teams to Dubai to prepare for the construction of the Palazzo Versace Hotel.

http://www.ameinfo.com/images/news/3/32463-emiratessunlandgroup.jpg

Sunland Group, who formed a 50:50 joint partnership with Emirates International Holdings to form Emirates Sunland Group (ESG), built the world's first Palazzo Versace Hotel on Australia's Gold Coast in 2000. They are now preparing to build the second Palazzo Versace Hotel in Culture Village on the Dubai Creek. Construction is expected to be completed by 2009.

The same team that are working on the Palazzo Versace Hotel are also working on D1 Tower, a residential/resort tower also being built on Dubai's Creek, and White Bay, a master-planned community in Umm Al Quwain.

David Brown, International Design Director for ESG, says the decision to permanently relocate the Palazzo Versace design team to Dubai was based on their expertise, reputation and attention to detail.

'Sunland Group has over 20 years of construction history in Australia and we have built up a strong reputation for excellence. We have bought the expertise behind that history to Dubai to ensure that same standards of excellence are maintained throughout all our international projects,' he says.

Several well-known locally based companies have also been contracted to work with ESG, including Arabtec, Holford Architects and Hyder Engineering.

As well as design and construction staff, Sunland Group have also bought several members of their Australian based sales team to Dubai to prepare for the launch of ESGs new projects.

This staffs has been joined by sales professionals from around the globe, including Iranians, Russians and Gulf nationals, and together they have over 40 years of combined sales experience.

Soheil Abedian, Joint Managing Director of Emirates Sunland Group, says the decision to create a multi-national sales team was due to Dubai's global appeal.

'Dubai is a city that draws people from all parts of the globe and we have chosen to build a sales team that represents this diverse cultural mix,' he says. 'Our products are very international in feel and having such a diverse sales team will mean that people can feel comfortable buying our properties in their own mother tongue.

'Of course we will also be collaborating closely with local real estate agents,' he says. 'We want to learn from the industry as a whole, while also adding to what is here in Dubai and showcasing the Australian way.'

model at cityscape has the D1 to the side

An old but never posted here news:


Palazzo Versace confirmed to grace Dubai skyline

Arabtec executed a joint venture agreement with Emirates Sunland Project Management LLC to perform construction management services to construct two new prestigious landmarks in Dubai.

United Arab Emirates: Thursday, May 18 - 2006 at 09:12


http://www.ameinfo.com/images/news/9/30099-arabteclogo.jpg

The joint venture agreement will allow for the construction of the approximately 1 billion dirham project comprising of Palazzo Versace Hotel and the D1 Tower in the recently announced Culture Village in Dubai Creek.

Arabtec Construction LLC, who specializes in large-scale projects including Burj Dubai, entered the joint venture as equal partners with Emirates Sunland Project Management LLC, who are an amalgamation of Australian-based Sunland Group and Emirates International Holdings.

Referring to the agreement, Riad Kamal, Managing Director of Arabtec, stated that this project is perfectly suited for such a dynamic and modern environment like Dubai and Arabtec are proud to help bring this project to reality. He also stated that Arabtec is associated with many landmark buildings all across the UAE and this joint venture will add another prestigious project to Arabtec's portfolio of pioneering developments

http://www.ameinfo.com/86333.html

looks very down to earth
nice building
finally a model

It's not really down to earth, but the Palazzo Versace is just like any other 5 star hotel. The only difference is that it's carrying the Versace name. It's "standard" stuff.

I like their exterior design. As for interiors, I'm not big on Versace furniture. Very bling bling.

i like it, has a certain classical style.

as for the tower next to it... :D:D:D:D

im sorry but its not the best disign in the world....when u think versace u think OTT...and this isnt it....D1 looks promising tho...

R

im sorry but its not the best disign in the world....when u think versace u think OTT...and this isnt it....D1 looks promising tho...

R


^^ Why dont you say what you really mean? You hate it, dont you? ha ha

Its PATHETIC! Seriously! Look at that crappy model. Where on Eartth was it when those pics were taken, in a garbage skip? :bash:

Its rubbish and I hope that DM rejects this very cheap design that will be an eyesore on the Creek. Its probably going to be Dubai's ugliest building now, after Dalma and Yalma, IF it gets approved.

Its such a tragic design!
:ohno: :ohno: :ohno: :ohno: :ohno:

ur absolutley rite...and wat person in their rite mind put this model a car park??????? lol...im assuming it was on its way to the bin when these pics were taken...hopefully someone will bring good news and pics from cityscape showing us a better design...

R

ur absolutley rite...and wat person in their rite mind put this model a car park??????? lol...im assuming it was on its way to the bin when these pics were taken...hopefully someone will bring good news and pics from cityscape showing us a better design...

R

There is notthing wrong with it being a low rise, but it needs SOME class. Right now it could easily be mistaken for D1's health club or indoor pool....

I was expecting something more like today's banner... now that would have been amazing!! :)

^^ Why dont you say what you really mean? You hate it, dont you? ha ha

Its PATHETIC! Seriously! Look at that crappy model. Where on Eartth was it when those pics were taken, in a garbage skip? :bash:

Its rubbish and I hope that DM rejects this very cheap design that will be an eyesore on the Creek. Its probably going to be Dubai's ugliest building now, after Dalma and Yalma, IF it gets approved.

Its such a tragic design!
:ohno: :ohno: :ohno: :ohno: :ohno:

It's not ugly. It's good, just not special.

Anyway, the Palazzo Versace in Australia had a "top class designer mall" right next to it which they recommended to me. I didn't stay there for more than 10 minutes. It was total crap like a run down Jumeirah Plaza or Beach Centre.

The hotel itself is "meh", like any 5 star.

It's not ugly. It's good, just not special.

Hence why I think it is not worthy of a prime location along the Creek.... It would do well near the Movenpick, perhaps, or somewhere on Al Wasl Rd.... as far away from the coast as possible so we dont have to look at it :lol:

I agree with Nasrawi... you guys need to chill, not everything can be "spectacular"

well its still ugly!

Palazzo Versace impresses visitors at this years Cityscape
Emirates Sunland Group (ESG), the creators of Palazzo Versace in Australia premiered many of its Dubai projects at this year's Cityscape.

Their successful participation saw much investor interest for their new prestigious development, the Palazzo Versace - Dubai.

The Sunland Group, who formed a 50:50 joint partnership with Emirates International Holdings to form the Emirates Sunland Group, built the world's first Palazzo Versace Hotel on Australia's Gold Coast in 2000. They are now in the initial stages of developing their second Palazzo Versace Hotel in Culture Village on the Dubai Creek, with construction expected to be completed by 2009.

Representatives of the firm reconfirmed at the Cityscape event, that the Palazzo Versace Condominiums will be released on an invitation only basis and that the Group has already been inundated with registrations of interest from potential purchasers.

To date, the Emirates Sunland Group is currently developing three projects in Dubai, and the UAE. These are the second Palazzo Versace Hotel and Condominiums, D1, an 80 storey residential/resort tower that will be a sister tower to Q1, and White Bay, a master-planned community on the shores of Umm Al Quwain which will be officially released at the end of November.

R

I went to Cityscape and only took picture of the D1 from several angles but none of the Hotel.

We are spoiled here and everything else looks crap. I was in late summer in NYC and have heard how "the legendary" MACY's is the pinacle of luxury department stores. I went there and it was so dissgusting that the only thing it deserved was a puke all over it. The prices were ridiculously high and the merchandise beh... :D

LOL!!!

R

Love this project, I think it will look great when completed. Especially next to D1!!

Sunland always do top quality projects, just look at Circle On Cavill and Q1.
The Palazzo Versace Gold Coast is fantastic, pure class, I don't see why this one will be any different. Seems to me 2nd time can only get better, just like D1 is (will be) in comparison to Q1.

:banana: maybe they would replace the designs!!!!!!!!!!
anyone's got a better suggestion of how it should look like

Love this project, I think it will look great when completed. Especially next to D1!!

Sunland always do top quality projects, just look at Circle On Cavill and Q1.
The Palazzo Versace Gold Coast is fantastic, pure class, I don't see why this one will be any different. Seems to me 2nd time can only get better, just like D1 is (will be) in comparison to Q1.

well of course it is. the circle on cavill and q1 was a masterpiece in its own right

*
Palazzo Versace underway

Construction of the Palazzo Versace Hotel and Condominiums has commenced in Dubai. The 1.3m sqft project at the Culture Village development on Dubai Creek will feature 215 suites, restaurants and a day spa, all of which will be furnished with products from the Versace Home Collection. In addition, 169 condominiums are being built as part of the resort, of which 50% were sold prior to release.

United Arab Emirates: 2 hours, 11 minutes ago

R

I dont like these 'grand mansion' type buildings. They're not suited for Dubai....I'd rather they remain in their Monte Carlo! :D

Well even if it was in this style they culd have done abit more with it...anywho cindy crawford was in dxb for this...it was on the news last nite...lol...she sed that they found a fantastic piece of property for the hotel...so...she does have a point there...

R

here's a pic and the accompanying article:

http://i9.tinypic.com/5yhkt2d.jpg

Ground breaking of Palazzo Versace Dubai celebrated
Sun, 13 May 2007 11:45 AM - Dubai Time
[-] Text [+]

Emirates Sunland Group (ESG) celebrated the start of construction of the Palazzo Versace Hotel and Condominiums in Dubai last night at a star-studded event at Mina A’Salam.

Dr Santo Versace, President of the House of Versace, and Cindy Crawford, world-famous supermodel were present at the event, along with Sabha Abedian, Managing Director of Sunland Group, and Soheil Abedian, Founding Director of Sunland Group and Managing Director of Emirates Sunland Group – the company behind the Palazzo Versace development.

Sheikh Tariq bin Faisal Al Qassimi, a member of the Ruling Family of the Emirate of Sharjah and Chairman of ESG was also in attendance as a special guest.

Centre stage at the event was the newly unveiled replica model of Palazzo Versace Dubai, which includes the entire Culture Village precinct, Dubai Creek Club and Festival City.

A number of Gianni Versace’s original dresses designed for operas were specially flown over from Milan for the gala evening. These dresses are part of the Versace Retrospective Museum and this was the first time they had ever been displayed in the Middle East.

“Palazzo Versace is the world’s first fashion-branded hotel, so hosting such an event is a fitting tribute to the pioneering name of Versace,” said Soheil Abedian. “Tonight has allowed everyone attending to experience the heritage of the luxury brand and we have been very honoured to be joined by Sheikh Tariq Al Qassimi, Dr Santo Versace and, of course, Cindy Crawford. We are very excited that construction is now underway on the Palazzo Versace Dubai project and are hugely confident that its innate design beauty will entice visitors from all over the world when it opens its doors in 2009.”

Giancarlo Di Risio, CEO of the Versace Group said, “This is an exciting project for the House of Versace, and wholly in keeping with the pioneering spirit of its founder, Gianni Versace. He was a true visionary and blurred the boundaries between fashion and interior design. The inaugural Palazzo Versace on Australia’s Gold Coast was the first fashion-branded hotel. Now it is joined by Palazzo Versace Dubai. I am sure that it will prove to be a huge success.”

Palazzo Versace Dubai is a landmark project of the new Culture Village master development on the Dubai Creek, a premium waterfront location with unobstructed views of the Creek.

Construction is now underway on the 130,000 square meter site upon which Palazzo Versace Dubai is being developed. When complete it will include 215 suites, restaurants, and a day spa, all of which will be furnished with an exclusive line of products from the Versace Home Collection. Suites range in size from 55sqm to 1200sqm for an Imperial Suite, of which there are two.

In addition, there are 169 exclusive condominium residences being developed as part of the luxury resort, of which 50% of has been sold prior to release.

Sunland’s expansion into the UAE followed the Group’s 49% sale of Palazzo Versace Gold Coast which settled on August 29, 2005. The 49% shareholding of the hotel is now held by Emirates International Group (Australia), a company associated with Gulf Resources, based in Dubai, UAE.

Emirates Sunland is a joint venture between Sunland Group Australia and Emirates International.

oh and FYI in the model that silver stick was not there...hmmm...or atleast I didnt see it.

R

German formwork company wins raft of contracts

by Angela Giuffrida on Wednesday, 02 May 2007


German formwork and scaffolding supplier, Hünnebeck, has won a raft of recent contracts on tower projects in Dubai.
These include an award to supply formwork Al Attar Tower on Sheikh Zayed Road, which is being built by General Construction, as well as to a five star hotel being built by Arabtec on the Palm Jumeirah

The company has also picked up work on the US $272 million (AED 1 billion) Palazzo Versace Hotel, also being constructed by Arabtec.

Article (http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=12057)

_________________________________________________________________________


Me like the fact that ARABTEC is building it; it will mean quality. :cheers:

great seems to be capturing the market slowly.

new render?

http://i20.tinypic.com/161e0y9.jpg

IT'S JUST BEAUTIFUL !!!

http://www.palazzoversace.ae/library/large3/4.jpg

18/October/2007

D1,Palazzo Versace and Culture Village

http://img518.imageshack.us/img518/815/imresolt154aq8.jpg (http://imageshack.us)

http://img401.imageshack.us/img401/2609/imresolt155gi8.jpg (http://imageshack.us)

http://img87.imageshack.us/img87/9997/imresolt156xo4.jpg (http://imageshack.us)

http://img401.imageshack.us/img401/9527/imresolt157vx0.jpg (http://imageshack.us)

http://img87.imageshack.us/img87/2273/imresolt158ox6.jpg (http://imageshack.us)

it looks like they are somewhat building only the left half of the building?

when is it actually due for completion?

^^
2009. D1 in 2010.

Plazzo versace status as per today

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Kate Hudson bought here. And possibly Laxmi Mittal.

Could be increasing price of D1 ...



:D

I'm astounded at those that say this is an ugly building! It looks like a beutiful castle. Truly grand and magnificent. And it will look even more attractive with modern D1 behind it, incorporating it in the Dubai scene...

One of my facourite hotels actually, together with madinat & burj al arab

Could be increasing price of D1 ...



:D

Prices seem to have gone up significantly - though there is not much of a secondary market at this stage. The developer is now selling the few remaining units at Dhs 3700 per sq foot and I was told that another price increase was imminent to take these to Dhs 4 k psf. I am glad that they got the flooding issue sorted out and that the construction is finally above ground. Lets hope it all works out in the end, a very special project at a great location imo. :cheers:

For those people intersting in plazzo versace resort , here the construction update from developer website .http://www.palazzoversace.ae/image_gallery.htm#

Looks very exclusive :) Here's the latest update : http://www.palazzoversace.ae/image5.php?imagenumber=37

new website with more images:

http://www.palazzoversace.ae/image_gallery.htm

New Render :cheers:

http://i36.tinypic.com/wv3akj.jpg

Palazzo Versace, a luxury hotel being built in Culture Village, has hired Hyder Consulting to cool the hot sand on the resort’s beaches. Here’s a quote from the president of Palazzo Versace to explain things a little further: “We will suck the heat out of the sand to keep it cool enough to lie on.”

Suck the heat out of sand? Why? Why not wear flip-flops? What’s going on here? Is there a financial crisis, or what?


www.kippreport.com

Someone forgot to do the homeworks because the sand does NOT get hot in Dubai beaches.

Something to do with the chemical composition, 'cause where I come from it get scorching hot even with mid-twenties temperatures.

Where is the beach near versace in Culture village?? Its Dubai creek!!

http://www.thesun.co.uk/sol/homepage/news/expats/expats_news/article2037465.ece

the picture is fake. Certainly there is not a place for a beach...the water is still and not safe for swimming

^^ Of course the water is not safe ... but probably they will leave a sand patch to place the sun-loungers. In general Europeans (for example) like to sun bath in the beach but not to swim in the sea, opting for a pool instead.

I heard there are a lot of units available in the market in Palazzo Versace I heard people are selling it at 0% they are willing even to lose 50% of the money that they paid

I think in general its very expensive project and looking at the situation in the world no one wnats to live in $3-$4m house in Dubai .

its a nice project good to have in Dubai anyway but its very expensive

^^ Of course the water is not safe ... but probably they will leave a sand patch to place the sun-loungers. In general Europeans (for example) like to sun bath in the beach but not to swim in the sea, opting for a pool instead.

If they want to use sand patch for sun-loungers to enjoy heat then i don't understand why they are designing to cool the surface

Construction Updates

http://www.palazzoversace.ae/image_gallery.htm#

If they want to use sand patch for sun-loungers to enjoy heat then i don't understand why they are designing to cool the surface

Sunbathing on a 30C sand patch is pleasant, on a 50C sand patch not. At least not for most European people :)

can you recommend to bath in the creek? what is the water quality?

If they want to use sand patch for sun-loungers to enjoy heat then i don't understand why they are designing to cool the surface

Sunbathing on a 30C sand patch is pleasant, on a 50C sand patch not. At least not for most European people :)

Once again, the beach does NOT need cooling, because the sand does NOT get hot, even if it's 50.

I heard there are a lot of units available in the market in Palazzo Versace I heard people are selling it at 0% they are willing even to lose 50% of the money that they paid

I think in general its very expensive project and looking at the situation in the world no one wnats to live in $3-$4m house in Dubai .

its a nice project good to have in Dubai anyway but its very expensiveThese units are never there when you want to buy one though at 50% off though ??

Someone forgot to do the homeworks because the sand does NOT get hot in Dubai beaches.

Something to do with the chemical composition, 'cause where I come from it get scorching hot even with mid-twenties temperatures.
Sorry to disagree but the sand is pretty bloo:lol:dy hot in Jul/Aug/Sept ??

http://i40.tinypic.com/2up6cyu.jpg

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

http://i39.tinypic.com/hwzq84.jpg

Once again, the beach does NOT need cooling, because the sand does NOT get hot, even if it's 50.

:wtf: Do you have asbestos feet, because I certainly can't stand on it for most of the summer?

^^ Maybe I have, or maybe don't consider it hot enough if I am able to walk bare-foot for more then a dosen meters. Back home you can't walk in the sand for more then a few meters even if temperature is in around 30.

Is it me or does this project sum up the hubris of the Dubai dream. It's not exactly the Gold Coast on Dubai creek, look left a flyover look right a sewage discharge

^^ Do you ever have anything nice to say about any project in Dubai?

Errrrrr something nice to say about a project in Dubai.....Yeah I think there are some really impressive towers and some genuinely decent architecture, but there is also an awful lot of dross.

This project is actually OK IF it had been on the beach, I can't believe this is on the creek, if I am not mistaken about half a mile away dhows drop their waste diesel and rubbish into the creek.

I was searching for a project that summed up the excess of the Dubai bubble, the project that seemed so stupid as to be unbelievable and could only exist in an over heated market. I thought perhaps the Deira Palm was it but actually this one sums it up better. A luxury hotel with a beach you can't use as it's effectively on a waste inlet.

Errr, it was a rhetorical question.

if we trust the renders we can see that there are several pools and some of them look like they have a (artificial) beach:cheers:

if we trust the renders we can see that there are several pools and some of them look like they have a (artificial) beach:cheers:

no, the bottom two images are of the Versace Hotel in the Gold Coast, so im not sure whether they will have multiple pools

oh okay, didn't know that :)

http://www.youtube.com/watch?v=Zn_TL6v4hXw&feature=related

http://i41.tinypic.com/2411ik6.jpg

How many luxury resorts in the world are flanked on both sides by bloody great big flyovers ? Unbelievable

Depa wins Dh129m deal to furnish Versace Hotel

http://i43.tinypic.com/2dqj2gj.jpg
Palazzo Versace Hotel is only the second of its kind in the world. (SUPPLIED)

By Staff Writer on 2/12/2009

Depa Limited, one of leading interior contracting services, announced yesterday that it has won a Dh129m ($32.7m) contract for the fit-out works of hotel rooms and furnished apartments in the Palazzo Versace Hotel in Dubai. The project is due for completion on 30 April 2010.

The $395 million Palazzo Versace Resort, designed by one of the world's leading international design fashion houses, will be located in Culture Village, a Dh50bn leisure and tourist project being developed by Dubai Properties on the edge of the Dubai Creek. The hotel will span 37,224 sqm and will feature the world's first refrigerated beach so that guests can walk comfortably across the sand on hot days, said the developer.

Depa's scope of work includes the complete fit-out works for 197 out of 213 hotel guest rooms and all of the 169 luxurious furnished apartments.

Depa was appointed by the Emirates Sunland Group (ESG), which is a Dubai-based joint venture between Enshaa, a regional real estate developer, and the Australian-based developer, the Sunland Group.

The Palazzo Versace Hotel in Dubai is the second of its kind in the world, the first one being Palazzo Versace Australia, which opened in the year 2000 in Queensland.

http://www.business24-7.ae/Articles/2009/2/Pages/02122009_0d678965d9e64cd5895488a74ce4cf65.aspx

Depa signs Dhs129m contract for prestigious Palazzo Versace Hotel, Dubai

Link for full article below:

http://www.ameinfo.com/184595.html

Palazzo Versace Dubai Construction 2009

http://www.palazzoversace.ae/image6.php?imagenumber=69

http://www.palazzoversace.ae/image6.php?imagenumber=73

http://www.palazzoversace.ae/image6.php?imagenumber=74

http://www.palazzoversace.ae/image6.php?imagenumber=81

Source
http://www.palazzoversace.ae/image_gallery.htm#

Today

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Thanks for your pics Bizzy. It's a long time that I was waiting for photos. Unfortunately there is nothing about "The Souk" (Babil-Rumelia). An other time I hope. In any case it looks that the works are slow...very slow.:ohno:

Thanks for your pics Bizzy. It's a long time that I was waiting for photos. Unfortunately there is nothing about "The Souk" (Babil-Rumelia). An other time I hope. In any case it looks that the works are slow...very slow.:ohno:

If they complete as per the contract then it will be a different arguement....personally as long as the quality is excellent I don't mind waiting a few extra months! Too many proijects have been hurried and are really suffering after a rushed handover...

Top mosaic artists for $652m Versace residence

Dubai: Wed, 01 Jul 2009


More than 100 specialist artisans have been recruited to produce the detailed mosaics for various areas of a $652 million fashion-branded residence in Dubai.

Palazzo Versace, overlooking the waters of Dubai Creek, is said to be the world’s first fashion-branded residences and resort chain. It is a luxurious collection of 169 private residences and 217 hotel suites within a classic palace featuring Middle Eastern architecture throughout exterior cornices, friezes, pillars and capitals, said a statement.

Almost 90 per cent of the artisans working on Palazzo Versace Dubai will be based in the UAE, but Versace’s Italian origins are underlined by the fact that all the hand-cut marble and glass tesserae – the small pieces which make up a mosaic – for the palace are being developed by an Italian master mosaic expert in Italy.

In total, 12,000 sq mt of mosaic artwork depicting the famous Versace icons will be hand laid throughout the coming 12 months by world-renowned mosaic company Fantini Mosaici.

The new Versace features a central reception area for guests and a grand entrance graced with elegant pillars, whilst on either side of the main façade, the Ala Sinistra and Ala Destra (the left and right wings) accommodate the private residential condominiums.

The unique Versace mosaic designs include meanders, Medusas, Cornucopias, vases and Greco-Roman decorative boarders. The porte cochere (drive way) stones will be sourced from Lombardy, a Northern Italian region, and will take a team of 20 skilled workers more than two-months to complete.

Specialists have also been flown to the Palazzo Versace Dubai site to hand-craft the wall paneling and ceiling vaults made from specially designed plaster moulds.

The detailed marquetry, made from a selection of locally sourced and imported Italian wood, will feature throughout all private condominiums illustrating elaborate patterns. In addition, skilled Italian stonemasons and sculptors have been appointed to create the enormous pillars and detailed capitals in the trademark Versace patterns.

“When people choose to buy designer clothes over high street brands, they do so because of the outfit’s style, the way it has been cut to complement its buyer’s shape, its high-quality material and the degree of craftsmanship,” said Soheil Abedian, founding director of Palazzo Versace.

“For Palazzo Versace, the same principles apply which is why we are investing so much time and attention to detail with the interiors and exterior of the development. This will ensure residents and hotel guests experience the ultimate luxurious lifestyle the Versace brand emulates,” he added.

“We have sourced the most experienced and renowned mosaic artists and stonemasons to create what would effectively be a modern day palace. Like the Arabian Princes who once strolled through ornately designed stately buildings and lush, exotic gardens, guests and residents can also experience a lifestyle fit for royalty.”

The head of the team of mosaic specialists said: “We take the overarching building structure created by Versace architects and develop interior spaces with mosaics fashioned by our Italian-based artisans team.”

“The Italian team develops the layout of the mosaics along with the careful selection of colours and materials, which is extremely important in this stage. The main patterns were inspired by original Ancient Greece and Roman art.

“The Greco-Roman designs were modified by Gianni Versace in both shapes and colours, to give them a modern, sophisticated edge and have now been adapted with a traditional Arabian flare.”

Palazzo Versace Dubai’s landscaping is designed around a series of water features, fountains, reflection pools and lagoons creating a series of visually stunning leisure and entertaining areas.

All the plantings have been specially chosen for their environmental and visual appeal and have been skillfully incorporated into the Palazzo Versace border patterns in the various parts of the gardens.

Palazzo Versace Dubai is now over 50 per cent complete with the main and side wings and interiors taking shape, creating a new landmark on the Dubai cityscape.

The development encompasses a 130,000 sq mt luxury designer resort and provides private residences and hotel suites, all furnished with an exclusive line of furniture designed by Versace.

The 5.5 hectare development also offers a Vanitas fine dining restaurant, a day spa, ballroom and convention facilities and a Versace boutique.

Palazzo Versace Dubai provides one to six bedroom residences, including single-storey and duplex residences and a showcase penthouse, all providing views of the surrounding area and outside balconies and terraces.

The residences are spacious, the largest providing 9,626 sq ft (894 sq mt) of internal living space, with an additional 4,619 sq ft (429 sq mt) of outside balconies and terraces. All the residences have a large kitchens and luxurious master bedroom suites with walk-in closets and suite bathrooms with outside terraces and balconies.

Palazzo Versace Dubai follows the hugely successful Palazzo Versace Gold Coast which launched in 2000.

Prices start at Dh17,706,400 ($4.82 million).

Palazzo Versace Hotel

Throughout the central hotel section, the floor slabs have now been completed up to level nine, with the final level (level 10) comprising the Imperial suites to be completed by the end of August.

The two sections of the eastern condominium wing have now reached the eighth and ninth level and the western wing sections now stand at levels seven and eight. The completion of the residential wings is also anticipated by the end of summer this year.

Steel trusses are in place to complete the roofing of the prestigious ballroom while at the same time providing support for the private residential plunge pools. The Palazzo Versace Dubai structure incorporates precast concrete panels for both floors and walls, which is more time efficient than casting concrete onsite.

Mosaic artists have already begun detailed artworks which will grace the floors and walls of the hotel and residences.

D1 Tower and Versace Hotel take shape

http://www.business24-7.ae/SiteLists/ArticlesEditedPhotos12009/7_20_2009/ArtclDtaPg_10c5074d34d6464e93d433ecb8faf3d1_0.2.jpg

on Tuesday, July 21, 2009

Preparations are under way for façade installation of the D1 Tower, with the first panels scheduled for completion in late July, said Emirates Sunland Group, the project's developer.

"The cranes are making their way up the building. The external hoist is operational and the screen installation is complete. All elements are in place for the next 36 floors," said a company statement.

"The floor-to-floor cycle is improving as the workforce becomes more familiar with the specialist formwork system being used on the project. The floor plate up to level 40 remains unchanged."

Meanwhile, at the central hotel section on the Palazzo Versace Hotel, the floor slabs up to level nine have been completed with the final level (level 10), which comprises the Imperial suites, to be completed by the end of August.

"The two sections of the eastern condominium wing have reached the eighth and ninth level and the western wing sections stand at levels seven and eight. The completion of the residential wings is expected by the end of summer this year," said Sunland.

Steel trusses are in place to complete the roofing of the ballroom, while at the same time providing support for the private residential plunge pools.

"The Palazzo Versace Dubai structure incorporates precast concrete panels for both floors and walls, which is more time efficient than casting concrete onsite. Mosaic artists have already begun detailed artworks, which will grace the floors and walls of the hotel and residences," it said.

Plazzao Versace is a five-star hotel under construction in Culture village, Dubai. Upon completion, it will consist of 217 rooms and 169 condominiums.

The hotel is under construction on 130,000 square metres of land.

It will be the world's second Palazzo Versace hotel, after the Palazzo Versace of Gold Coast, Queensland.

Via Business24-7.ae

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http://www.palazzoversace.ae/library/large6/133.jpg

Latest pics from developer

http://www.d1tower.com/residential-apartments-dubai/faq.htm

^^nice picture...........

Palazzo Versace Hotel

With over 98% of the concrete structure of Palazzo Versace completed the construction focus is now focussing on the interiors, finishes and services.

Ceiling services, such as electrical wiring and plumbing, are over 25% completed with work now taking place on level four of the hotel and condominiums. Window installation is also taking place on level four and is 40% complete over all.

Precast façade works are commencing on the condominiums, and interior block work is continuing throughout the upper floors.

http://img36.imageshack.us/img36/9984/pvsketch.jpg

http://i36.tinypic.com/wv3akj.jpg

What is the double-boomerang structure to the right of D1 and Palazzo Versace?

^^ It's A Cultural Museum

Does anyone here have any recent pics from the resort? :)

Does anyone here have any recent pics from the resort? :)

There are some on the D1 website -
http://www.d1tower.com/residential-a...-dubai/faq.htm

However, it would be good to have some more and maybe some of the D1 as well, considering both projects appear to be rapidly progressing.

19/November/2009

D1 and Palazzo Versace

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http://i48.tinypic.com/flx4pv.jpg

http://img515.imageshack.us/img515/4792/dsc02554d.jpg (http://img515.imageshack.us/i/dsc02554d.jpg/)http://img515.imageshack.us/img515/dsc02554d.jpg/1/w640.png (http://g.imageshack.us/img515/dsc02554d.jpg/1/)
http://img690.imageshack.us/img690/1690/dsc02553.jpg (http://img690.imageshack.us/i/dsc02553.jpg/)http://img690.imageshack.us/img690/dsc02553.jpg/1/w640.png (http://g.imageshack.us/img690/dsc02553.jpg/1/)

26/November/2009

Culture Village

D1 and Palazzo Versace

http://i50.tinypic.com/5n6u7b.jpg

http://i49.tinypic.com/2itqvme.jpg

http://i50.tinypic.com/11uc26u.jpg

IS this the same Versace Tower everyone's talking about? I know a friend from UK who has commenced legal action already. Can someone please confirm if this is the same project which was due for delivery and is sixty percent complete already?

29/November/2009

D1 , Palazzo Versace , Culture Village ,Dubai Festival City and Business Bay Crossing :)

http://i45.tinypic.com/2m3mjys.jpg

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The Palazzo Versace Dubai is over 60 percent complete and is due to open in late 2010 or early 2011, the resort’s developers said on Monday.

“The Versace Group is 100 percent committed to this project and we foresee it will be a huge success. Nothing equivalent has ever been built in Dubai to date,” Versace President Santo Versace said on a visit to Dubai to inspect structural work on the $626m development.

The project is being built by Emirates Sunland Group, which is a 50:50 partnership between UAE-based Emirates International Holdings and Australian-based Sunland Group Limited.

Approximately 1,500 workers are on site to prepare the project for opening by early 2011.

Soheil Abedian, managing director of Emirates Sunland Group and president of Palazzo Versace, said the windows and glazing was now 75 percent complete and the roof structure above the hotel and penthouse residences is nearing completion.

The interiors will be furnished from the Versace Home collection, but will also have a local twist as 90 percent of the artisans working on project will be based in the UAE and the mosaic work will be done by Fantini Mosaici Group, the creators of the mosaic detail in the Grand Mosque in Abu Dhabi.

The 5.5 hectare development will also include 169 private residences. Around 80 percent of the residences were sold off-plan and prices started from AED17.7m ($4.8m).

The resort, located at Dubai Creek, generated global headlines when it was announced it would include a refrigerated beach, however plans have since been scrapped after environmental concerns.
www.arabianbusiness.com%2F576737-versace-dubai-homes-nearing-completion

encouraging good news:)
prices started from AED17.7m ($4.8m).:nuts: and Around 80 percent of the residences were sold off-plan!
Thanks for the news

I am meeting the Developer in person on 10th of January, 2010. If you have any questions, put me a PM

I am meeting the Developer in person on 10th of January, 2010. If you have any questions, put me a PM

Some questions:

1) I have read that ownership of both the D1 Tower and the PV have changed and the new owner is now ENSHAA. Please ask the developer to clarify?
2) It would appear that most (if not all) other developments in Culture Village are either 'on hold' or cancelled. This will obviously make the sale and/or rental of apartments by investors in both the PV and D1 a lot less attractive. Is the developer planning to help existing investors in any way as both projects were sold on the basis that they were part of the Culture Village development which has now been significantly delayed and may not happen at all?
3) Following from 2) above, the prices that apartments were sold to investors were at the top end of the scale because the projects were both very 'classey' developments within Culture Village. Now, not only have prices of properties in Dubai reduced significantly, but also the PV and D1 will probably be the only developments completed within Culuture Village for many months (if not years) and will therefore be standalone and isolated. Is the deveoper prepared to review the pricing structure?
4) As both the D1 and PV will be completed ahead of all other projects in Culture Village, can the developer confirm that all utilities (water, gas, electricity) will be fully functioning on completion?
5) Has the devloper got a detailed construction schedule/timetable for both the D1 and PV and if so, can it be made available to existing investors? In other words, what confidence can investors have in the developer's latest estimated completion date?
6) No doubt a number of existing investors in both the D1 and PV have either defaulted or are delaying payments. Will the developer tell you the current status inthis regard and comment on how they are handling their resultant liquidity issues

Thanks

Where did you read????? Nothing on the Sunland Australia site and as a listed company any such change would almost certainly have to be announced so likely Dubai gossip unless you an substantiate.

A little research by Number 49 would reveal that ENSHAA is owned by the Al Quassimi family and they are the JV partners in Emirates Sunland

ie putting 2 + 2 together and getting 5. Check your facts and what you read!!!

Sorry for another post but you can find out how much has been paid by buyers for PV and D1 by going to the Sunland Australia website, go to investor relations and look at the latest annual 2009 financial accounts. I did look at these figures and recall a fairly high percentage paid from the full contract values. The accounts will also tell you how much remains unsold and again I recall a lot sold. In other words the crash hit when a lot of buyers had paid fairly big percentages so difficult for them to default and risk losing substantial sums. Perhaps someone who is an accountant can pull the exact figures from the 2009 financial accounts. Nice to look at a properly audited set of accounts which can be relied upon from a country with proper regulations and oversight.....I'm not Australian!!

ie putting 2 + 2 together and getting 5. Check your facts and what you read!!!


Thanks for the feedback.
This is what I read on Enshaa's website:

" [I]ENSHAA PSC, a leading development and investment company with interests in the Middle East, North Africa, Asia and Australia, announced today its 100% acquisition of Signature Clubs International (SCI).

The acquisition highlights ENSHAA's strategic focus on quality branded products and expansion into the hospitality industry, enhancing its already prestigious portfolio that includes Palazzo Versace Dubai, Palazzo Versace Gold Coast, Australia, D1 residential tower, Culture Village Dubai and Emirates Financial Towers,Dubai International Financial Centre."

Hopefully, you will see where the confusion lies, as it doesn't say anything about Sunland or a JV arrangement. However, I appreciate the clarification.

I look forward to the answers to the other questions that I have requested to be asked.

Nothing concrete from the developer, it seems they have hired some media agency to publicise themselves.

it looks great !! GO DUBAI !!

The structure is 99% complete with the only a few minor elements required to finish the structural steel roof. A total of 90,000m3 has been poured and the building scale is fully recognized. The Hotel Imperial Suite framework will complete the building form and is due for completion early 2010.

Windows are well progressed with glass generally complete to level 8. Façade blockwork has reached level 9 on the condominiums and level 6 of the hotel and precast façade elements have commenced across the condominium lower levels.

Precast manufacture continues to progress well and everyday more of the 12,000 façade precast elements are being delivered.

The first condominium stone is due for delivery in January and currently 80% of the mosaic works are complete ready for delivery to the project.

Internal services works are working on level 8 and internal finishes commenced on level 1 in preparation for stoneworks.

^^

Good news. Still work to be done on landscaping and interiors. The hotel itself is incredible!

Sunland's Palazzo Versace Dubai sandstorm

Anthony Klan | The Australian | January 21, 2010 12:00AM

LISTED property group Sunland's Palazzo Versace development in Dubai has hit another snag, with authorities failing to provide infrastructure for the project.

The latest drama follows a string of other problems, such as site flooding.

The group has also laid off its engineering consultant, international advisory firm Hyder, in a bid to reduce costs.

Dubai Properties, an arm of the government that releases land to developers and provides infrastructure, has failed to build an electricity substation on the site.

Dubai Properties is also yet to build an air-conditioning cooling station, delaying internal plaster and flooring works.

Hyder's Dubai regional command director, Stephen Tode, said Sunland had dropped the group as a consultant to reduce costs.

Hyder is understood to have launched legal action against Sunland over about $2.7 million of allegedly outstanding payments.

Mr Tode said while Hyder had been consulting to Sunland, the Palazzo Versace development had suffered several setbacks, including flooding from a nearby creek and some problems with retaining walls.

Sunland is understood to be negotiating with Dubai Properties over the infrastructure concerns and is believed to be considering constructing its own power station.

http://www.theaustralian.com.au/business/sunlands-palazzo-versace-dubai-sandstorm/story-e6frg8zx-1225821818569

^^ This is truly remarkable... Dubai is known for its best infrastructure and yet forgot to add electricity and air-conditioning to the site? Is this the same Dubai that I live in? :ohno:

they did not foget. master developer just no money

Dubaï Properties is a member of Dubai Properties Group
Dubaï Properties Group is a member od Dubaï Holding Commercial Operations
Dubaï Holding Commercial Operations was downgraded this monday by Standard and Poor's from BB+ to B

What is the double-boomerang structure to the right of D1 and Palazzo Versace?

http://www.youtube.com/watch?v=uAh1dhU1kBQ

Compared to the original purchase prices haven't the values completely crashed. Were ordinary buyers or investors able to even buy something here originally. This is a really high profile project and what a shame about all the problems with it.

01/February/2010

PALAZZO VERSACE RESORT

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Hi if anyone interested in this project i have 30 days to sell it then they gonna cancel it
it's 2br
VERY BIG DISCOUNT
contact me 050 7709545

Hi if anyone interested in this project i have 30 days to sell it then they gonna cancel it
it's 2br
VERY BIG DISCOUNT
contact me 050 7709545


lol..when you mention cancel and discount in the same sentence, i hope you mean free!

Hi if anyone interested in this project i have 30 days to sell it then they gonna cancel it
it's 2br
VERY BIG DISCOUNT
contact me 050 7709545

Please give more details. What unit do you have ? How big is it ? At what price did you buy (AED per sqft) ? How much did you pay up to now ?

That's not the only problem Sunland is facing. Article in the Sydney Morning Herald. Headline reads: "Sunland misled the ASX in Dubai case". This will have an impact on them both in Dubai and in Australia. Read the story at:
http://www.smh.com.au/business/sunland-misled-the-asx-in-dubai-case-20100210-nsf9.html
Of course they denied it, and are threatening lawyers at 20 paces.

lol..when you mention cancel and discount in the same sentence, i hope you mean free!

:cheers1: even i pay transfer

:cheers1: even i pay transfer

lol

Andr have you sold yet. If not explain exactly the deal so we can learn something and you never know someone might get interested to buy in this very high profile development.

Andr have you sold yet. If not explain exactly the deal so we can learn something and you never know someone might get interested to buy in this very high profile development.

I have like 25 days to pay them, otherwise :bash:

2br - area is 1700 sq.ft

O.P. was 7.350 mln.

40% paid

S.p. - is any positive offer

Palazzo Versace Dubai 60% complete

by Shane McGinley on Thursday, 25 March 2010

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HOTEL SITE: The main structure and 60 percent of the entire construction work at the Palazzo Versace Dubai project is now complete. (Supplied)

The main structure and 60 percent of the entire construction work at the Palazzo Versace Dubai project is now complete, the resort’s developers said this week.

So far, more than 91,000 m3 of concrete, 20,000 tonnes of reinforcing steel and over 3,500,000 man hours have gone into creating the 170,000 sq m luxury resort, which is due to be complete early next year.

The AED2.3bn ($626m) project’s external structure is now complete and was finalised in a topping out ceremony and the interior renderings, which will include 12,000 square metres of bespoke mosaic artwork depicting the famous Versace icons and Greco-Roman icons, is about to commence.

The 4.3 hectare development is being developed by Emirates Sunland Group and Versace and is being built by the Dubai-based Arabtec construction firm.

“The main structure of Palazzo Versace Dubai is now complete and we are over 60 percent build complete for the entire resort. The external landscaping, along with the inclusion of the luxurious swimming pools will soon commence. We anticipate completion in early 2011,” said Soheil Abedian, managing director of Emirates Sunland Group and President of Palazzo Versace.

The designer hotel will include 169 private residences and 217 hotel suites, which will be furnished from the Versace Home range.

The Dubai resort will be the second Palazzo Versace, following the first hotel on Australia’s Gold Coast, and the developers are aiming to open a further 13 resorts worldwide.

arabianbusiness (http://www.arabianbusiness.com/584535-palazzo-versace-dubai-60-complete)

May/2010

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Great Photos

This Hotel Is Amazing

It is good that at least the hotel and the D1 are going ahead in Culture Villlage, otherwise the site would be totally dead. But it is a shame that they will be located in the nowhere in the middle of a construction site when completed.

Looking forward to the completion of these two, they will look stunning next to each other !!

Any unhappy owners with Emirates sunland please contact me:

Its time to take action~ emiratesunlandgroup@gmail.com

Email me, lets join information and figure out what is happening!!!!

i look forward to hearing from you

Are there any owners in Dubai that can give a realistic time frame?

Take action about what exactly? What are your motives?

Not sure if you have invested in this project. The guys have over delayed handing over. They are sweet and nice each time we visit their office but when asked about construction progress, every request falls on to deaf ears:bash:

Hi, yes i have a unit here but currently I have no wish to take any action, especially as construction is rapidly progressing and they have a year to complete according to my contract so just don't think action will get me anywhere - However I would happily take my money back if they gave me the option !!

Good luck, I hope you manage to get the result you are after :)

http://www.rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/624_461.jpg

Is everyone aware that there is now a show apartment available on site. You can arrange viewings through their site sales team.

it cant compare to the one in the gold coast, the weather there is amazing all year round

THE DUBAI LAND DEPARTMENT HAS CERTIFIED THAT
THE PALAZZO VERSACE PROJECT IS NOW 81% COMPLETE.**
(According to the technical report issued by the Real Estate Regulatory Authority (September 2010)


Good progress continues to be made on Palazzo Versace with intricate mosaic and plasterboard works internally and complex glass reinforced concrete cladding externally.

Internal walls and lining are continuing to make good progress through the building with framing works on L6. Following up close behind is the lining crew on level 5 and the mouldings installation on level 4.

Stone floors are being laid on levels 2 and 3 and regular deliveries of stone are arriving from Italy ensuring the teams will continue to keep up with the lining trades.

All the windows are installed across the condominiums and façade painting in now underway on the creek side. The painting works are undertaken from level 8 down and the scaffold will be dismantled as the works are completed.

they are taking their time on this one, should have been completed a while ago.

http://image.exct.net/lib/fefa1c73756703/m/1/PVD+and+D1+from+creek+low.jpg

Internal wall linings are now completed through the condominiums on both the east and west wings. Final detailing and installation of the (42km) of architectural moulding is taking place on the upper levels walls and ceilings. On completion this will see the finalization of a very complex and detailed phase of works.

Stone floors are being laid on Level 2 and Level 3 and regular deliveries of stone are arriving from Italy ensuring the teams will continue to keep up with the lining trades. In addition the bathroom mosaic works are well progressed through the lower floors of the condominium residences.

Façade painting is well underway on both east and west condominiums and the first section of scaffolding removed to reveal the finished façade on the west condominium.

Structural landscape works are underway across the east lagoon and progressing across the central lagoon. These structural landscape works will also incorporate the completion of the retaining wall to the promenade.

http://view.exacttarget.com/?j=fe6b1574706605797614&m=fefa1c73756703&ls=fde516797d61027976117972&l=ff5e107971&s=fe28127972650179771574&jb=ffcf14&ju=fe281577726c037f751370

^^ That facade looks great! It looks so chic :)

Some pics below also

Some pics below also

can't seem to find them...

I think it is these in the D1 Tower Thread: http://www.skyscraperlist.com/showthread.php?403-D1-80F-Res-284m-(Culture-Village)/page2#post2982

I think it is these in the D1 Tower Thread: http://www.skyscraperlist.com/showthread.php?403-D1-80F-Res-284m-(Culture-Village)/page2#post2982

Some pics below also

Thanks! :)

A high number of defaults has meant several properties in the Dh2 billion (US$544.4 million) development coming back on to the market at a discount, but all the 169 private homes and 213 hotel rooms will still come with furniture and accessories, right down to the $120 drinking glasses, designed by Versace, the Italian designer.

Eighty per cent of the residences were sold before the financial downturn, with buyers from the UK, Russia and around the region among those who jumped at the offer. But many did not follow through with payments, said Soheil Abedian, the managing director of Emirates Sunland Group, the company behind the project.

“More than 50 per cent of [the apartments sold] have not performed,” said Mr Abedian, adding that he was in the process of cancelling about 40 contracts through the Real Estate Regulatory Agency. “When these processes are completed … we are allowed to sell [them].”

Partly because of these financial problems, construction of the luxurious development on Dubai Creek has slowed and it is still about 12 to 14 months away from completion, having started building in 2007. The main structure of the building is almost finished.

When the apartments first came on the market, prices started at Dh17.7m. Now, a two-bedroom apartment in the Versace property can be had for Dh8.5m, Mr Abedian said. The average price is now Dh4,500 per square foot.

Seven apartments in the Palazzo Versace were sold last year.

“The market is there,” said Mr Abedian. “The apartments are selling, but still there is a doubt in off-plan products.”

The company has switched from property sales to equity and bank loans to finance completion.

“You cannot defy the laws of gravity and you have to adjust with the market,” said Chiheb ben Mahmoud, the senior vice president at Jones Lang LaSalle Hotels Middle East and Africa. He said similar properties worldwide had been “adversely affected by negative market conditions”.

Mr Mahmoud said it was an established trend among operators in the luxury properties market, including Four Seasons and Ritz-Carlton, to have private residences incorporated into a hotel. The Armani hotel in the Burj Khalifa also uses this model.

The Palazzo Versace hotel is part of the wider Dubai Properties’ development, Culture Village, which has been delayed. Mr Abedian said he was confident, however, that Dubai Properties would soon install basic infrastructure, such as electricity and water.

The Dubai hotel is the second Versace property after the launch of Palazzo Versace Gold Coast in Australia in 2000.

The Dubai hotel is expecting to charge rates in line with luxury properties in the emirate such as the Armani hotel and Mina A’Salam.

Number 49, I don't know where you get your information but it isn't accurate. The last report of 81% complete includes the procurement which is about 25%. My definition of complete is actual work completed, so its actually between 50 and 60%.
This project has been beset with problems since it started in 2007, yes nearly 4 years ago. Completion should have been September 2009 and various promises of completion end of 2010/early 2011 are completely pie in the sky. Sunland have to face up to the fact that they don't have a clue when they will complete.
Every other development at Cultural Village has stopped because Dubai Properties have walked off the site so there will be no roads, no marina, no electricty, no district cooling, no drainage, etc. but there is an unsightly boat repair yard for the investors in the west wing to look at. If the planned substation for this development was started today it would be 30 months before DEWA would have it commissioned and at a cost of AED.80 million. If Sunland are planning alternative infrastructure and airconditioning to the district cooling then why are they not open about it and inform their investors who might then be more inclined to keep with their investment. Maybe its because Sunland are not now guaranteeing the 15% annual return on investment that was made at time of sale!
Sunland might be cancelling contracts but they are also being sued for non performance.
Time for Sunland to communicate with investors give an accurate state of the completion date as I am sure that a company like Arabtec (the main contractor) will have a clause 14 programme that shows a start and finish date or am I Living in a dream world!!!!!

Axe2grind

You are spot on. Most of the Number 49 info is from National Newspaper, lending paper to Sunlands desperate attempt to shift blame on investors. The let down by Dubai Properties is also immense.

I just wonder what Face81 has to say about this?

Arabian Business is calling the bluff - Versace is going on hold. No money. Investors should rally up and demand refunds.

http://www.arabianbusiness.com/fundi...le-385560.html

Whoever was planning on providing finance to Sunland has done their Due Diligence and come to the same conclusion that the investors have ie. THIS PROJECT CANNOT BE COMPLETED OR HANDED OVER WITHOUT THE INFRASTRUCURE IN PLACE.
As far as Sunland is concerned its those nasty investors who are to blame for the delays not the flooding of the site, the design changes, lack of co-ordination, poor management decision making, etc.
Sound financial reasoning says this project should have been put on hold when the master developer ceased work.
The management of this development is attempting to give a positive spin that the project will be completed but it is financial suicide to continue unless you have a proper execution plan that shows project completion, handover and occupation. Sunland will continue to play this game until the 12 months extension to the anticipated completion date of somewhere between 31 December 2009 and 30 June 2010 has been reached, ie. 30 June 2011. That date is fast approaching and completion will not have been achieved, and, thereafter they will envoke the Force Majeure clause in the contract like every other developer in Dubai that is behind schedule.

UPDATE: The Palazzo submits this statement:

Emirates Sunland, the developer of Palazzo Versace Dubai would like to advise that the article that appeared in Arabian Business and the subsequent article in Business Insider, contains information that is factually incorrect, misleading, unauthorised and damaging to the project, and its related parties. Palazzo Versace Dubai is now 80% complete. Construction is continuing and has at no point stopped. As is the nature of the construction industry amendments have been made to the proposed build schedule however, no funding for Palazzo Versace Dubai has been blocked, and the finance syndicate continues to support the project’s delivery. The article quotes Ms Shapedko, on behalf of Better Homes, as follows “Based on our available information, the Palazzo Versace is heavily behind schedule… What we hear is that project funding is blocked [and] completion dates have been postponed,” Emirates Sunland has afforded Better Homes the opportunity to retract the inaccurate statement provided by Ms Shapedko, and is considering the legal implications and redress available under local UAE laws.



Read more: http://www.businessinsider.com/palazzo-vesace-dubai-behind-schedule-2011-3#ixzz1Gg8obGx9

Hi folks,

that´s a real shame, start to the end, blaming investors, then denying the undenyable it´s self. It´s late, period.
Versace´s brand on it´s worse scenario.

Without Dubai Properties partnership, no rebate investment could be realized since you wont get any infraestructure site to ensure a Hotel needs.
That´s a real and deep situation.

Transparency should be the rule right now.

Better days to come, we do hope.

Having recently spoken to another developer at Cultural Village regarding the infrastructure issues, he informed me that Dubai Properties had advised him sometime ago not to continue with his development at the moment as the infrastructure would not be ready anytime soon!!!!! He has suspended work.
If Sunland know differently or have a Plan 'B' perhaps they could be a little more transparent about what it is rather than present the image that they can complete and are in control of the issue. Currently its dillusional and mixed up thinking.

Whoever was planning on providing finance to Sunland has done their Due Diligence and come to the same conclusion that the investors have ie. THIS PROJECT CANNOT BE COMPLETED OR HANDED OVER WITHOUT THE INFRASTRUCURE IN PLACE.
As far as Sunland is concerned its those nasty investors who are to blame for the delays not the flooding of the site, the design changes, lack of co-ordination, poor management decision making, etc.
Sound financial reasoning says this project should have been put on hold when the master developer ceased work.
The management of this development is attempting to give a positive spin that the project will be completed but it is financial suicide to continue unless you have a proper execution plan that shows project completion, handover and occupation. Sunland will continue to play this game until the 12 months extension to the anticipated completion date of somewhere between 31 December 2009 and 30 June 2010 has been reached, ie. 30 June 2011. That date is fast approaching and completion will not have been achieved, and, thereafter they will envoke the Force Majeure clause in the contract like every other developer in Dubai that is behind schedule.

Totally agree and this is the reality. If they do not secure finance then the project is in jeopardy. Even with finance, when they have completed the condominiums there will not be a hotel available for 6 to 12 months. They need to complete the residences so they can receive a cash injection from the final payment...what do you think they will do with that cash?? Ensure their own bonuses or maybe put it to use on completing the hotel?

If anyone lhas invested in a PV condo without the furniture package then please PM me to discuss.

Having recently spoken to another developer at Cultural Village regarding the infrastructure issues, he informed me that Dubai Properties had advised him sometime ago not to continue with his development at the moment as the infrastructure would not be ready anytime soon!!!!! He has suspended work.
If Sunland know differently or have a Plan 'B' perhaps they could be a little more transparent about what it is rather than present the image that they can complete and are in control of the issue. Currently its dillusional and mixed up thinking.

Upon visiting site last week I was assured that Sunland would be issuing a letter to all owners with more info within the next few weeks...a little late I feel when there has been so much in the press. Surely they need to be more transparent with the existing investors.
No doubt this letter will just say how well the project is moving along and that they are 87% complete according to RERA. (Is it me or is that figure TOTALLY misleading????). Probably say that project sales are picking up (7 last year etc.) and tell us how great our investment will be on completion.......i.e PLEASE DON'T DEFAULT, PLEASE, PLEASE!
Anyway, they may surprise us so let's hope they offer more accurate and relevant info that is of use to investors.

DubaiDreamz you are not alone in thinking the 87% completion certified by RERA is misleading, it is. RERA use a company called Scream!line to prepare these completion reports and they include an element of procurement which is about 25% of the 87%. Do the math!!!
The condominiums were sold as hotel apartments with a guaranteed 15% per annum return on investment if you lease it back to the hotel. Or so the sales people were saying. After Sunland issued the long delayed contracts there is no mention of the leaseback. I have been involved with 5 hotel developments in Dubai and to make a 5 star hotel profitable any hotel manager will tell you they need approximately 400 to 450 rooms to make it viable. So Palazzo Versace need the condominiums as 160 hotel rooms doesn't work.
The hotel apartments sales were financing the hotel costs which I wouldn't have minded had Sunland stuck to the sales pitch of 15% per annum return on investment. Since investors have stopped making payments as the development has ground to a snails pace with no sign of the very extended completion date of end of June 2011 being achieved there is no money for the hotel construction so Sunland have had to seek financing to make up the difference.
The hotel is of no use without the condos and the condos are of no use without the hotel.
I haven't seen an apology from Better Homes so they are either correct about the financing or Sunland have commenced legal action against them.
Either way the investors are left in limbo whilst Sunland take an aggressive stance against the very people they need.
I wait with bated breath to hear what this letter is going to say but I can't imagine that it will be anything positive but I would love to be proven wrong.

DubaiDreamz you are not alone in thinking the 87% completion certified by RERA is misleading, it is. RERA use a company called Scream!line to prepare these completion reports and they include an element of procurement which is about 25% of the 87%. Do the math!!!
The condominiums were sold as hotel apartments with a guaranteed 15% per annum return on investment if you lease it back to the hotel. Or so the sales people were saying. After Sunland issued the long delayed contracts there is no mention of the leaseback. I have been involved with 5 hotel developments in Dubai and to make a 5 star hotel profitable any hotel manager will tell you they need approximately 400 to 450 rooms to make it viable. So Palazzo Versace need the condominiums as 160 hotel rooms doesn't work.
The hotel apartments sales were financing the hotel costs which I wouldn't have minded had Sunland stuck to the sales pitch of 15% per annum return on investment. Since investors have stopped making payments as the development has ground to a snails pace with no sign of the very extended completion date of end of June 2011 being achieved there is no money for the hotel construction so Sunland have had to seek financing to make up the difference.
The hotel is of no use without the condos and the condos are of no use without the hotel.
I haven't seen an apology from Better Homes so they are either correct about the financing or Sunland have commenced legal action against them.
Either way the investors are left in limbo whilst Sunland take an aggressive stance against the very people they need.
I wait with bated breath to hear what this letter is going to say but I can't imagine that it will be anything positive but I would love to be proven wrong.


However they want to massage the figures regarding completion, there is still a substantial amount of work required and this is verified by the slated completion in 9-12 months for condos and 18 months for the Hotel. We also know that these dates are not fixed and are most likely to be delayed further, pushing it well past the long stop date. I totally agree with you, the fact (according to Sunland) that approximately 50% of the original 70% of investors have defaulted now means that the only way for the project to be completed is by getting finance as it was investors money that was financing the project. Sunland confirmed that they are in negotiation with a certain Bank at the present and are awaiting a deal to be signed. However no-one can confirm what will happen if the banks don;t come on board !
When I invested at pre-launch there was never a guaranteed 15% return on renting out the condo, merely a suggetion of anticipated returns. Most recently it has been suggested that there would be a 50/50 slit on room revenue and that a 2 bed condo should rent for about 2000 USD per night. With hotel occupancies at an average of 70% in Dubai, investors should be reassured that they have a solid invesment! But the reality is that I have a property valued at approximately 25% less than pre-launch prices so what would be the 15% be based on anyway? I also bought without furniture and it has been suggested (still waiting for the official info from Sunland) that the furniture package will be available at a price of 3 Million AED, I repeat 3M! With a heavy discount (up to 50%) if paid off early. With no option to rent out for at least 18 months as there will be no hotel I do hope that Sunland issue more substantial and detailed information to reassure us investors...let's wait and see.

please remember this is how they lead the investors of white bay up the garden path!

http://image.exct.net/lib/fefa1c73756703/m/1/PV+Logo+77.jpg

RERA confirmed that the technical audits carried out in February found that Palazzo Versace Dubai is 87% complete.

The façade installation with its embellishments is progressing well with façade treatments to the condominium wings closest to the creek now complete. All areas of the hotel façade (including condominiums) facing the street are now complete to level 9. The final area of the main building façade facing the creek has commenced. Moulding work and paneling to the lower feature façade arches has commenced.

Painting of the façade is progressing well with installation of the final decorative metal panels underway. The exterior of the hotel is beginning to take shape, as the scaffolding is removed and the detailed façade treatments are revealed.

Landscape structures are progressing in all outdoor areas of the development. The pool contractor is now working on the main pool and water features to the east lagoon area.

The terrace structures to the level 8 condominium terraces are complete, and the pool contractor has commenced work on pools for the upper level condominiums.

Internal works on the condominiums are progressing with plasterboard sheeting and mouldings complete to level 7, and are now working towards completing this phase of the internal fitout on level 8. Two additional display apartments, Type 2B and 2C, are in the process of being completed with furnishings. Stone and mosaic feature installation is now progressing on level 3 of the condominium wings, Ala Destra and Ala Sinistra.

http://image.exct.net/lib/fefa1c73756703/m/1/PVD+Facade+close+up+resized.jpg

http://view.exacttarget.com/?j=fe57157473670d7f7d13&m=fefa1c73756703&ls=fdee107170670c797117787c&l=ff001570726205&s=fe2e13757c66047e711572&jb=ffcf14&ju=fe2115787564027a731d79

Dubaiiscool,

Posting misleading and uninformed information like this without comment really isn't on unless you provide the actual completion date as well!!! So how long is it going to take to complete the final 13%?

The photograph you have posted clearly shows there is a lot of work to do externally and the internals cannot be progressed properly unless there is wild air provided to the building so that the timber floors, doors, kitchen units, wardrobes, plasterboard ceilings and walls can be installed without damage due to high humidity.

Carrying on with the work the way it is at present will only lead to numerous snagging problems later. Maintaining temporary power to these units until they are capable of being handed over will cost a fortune and who is expected to pay for it?

The logic behind Sunlands planning of this project mistifies me and I wish they would be a little more forthcoming about how they are going to do it because I only see a disaster in the making. But prove me wrong Sunland by letting us all in on the secret. Too much crystal ball gazing me thinks.

http://image.exct.net/lib/fefa1c73756703/m/1/PVD+Facade+close+up+resized.jpg

http://view.exacttarget.com/?j=fe57157473670d7f7d13&m=fefa1c73756703&ls=fdee107170670c797117787c&l=ff001570726205&s=fe2e13757c66047e711572&jb=ffcf14&ju=fe2115787564027a731d79[/CENTER]

Love the facade!!! :cheers:

Dubaiiscool,

Posting misleading and uninformed information like this without comment really isn't on unless you provide the actual completion date as well!!! So how long is it going to take to complete the final 13%?

The photograph you have posted clearly shows there is a lot of work to do externally and the internals cannot be progressed properly unless there is wild air provided to the building so that the timber floors, doors, kitchen units, wardrobes, plasterboard ceilings and walls can be installed without damage due to high humidity.

Carrying on with the work the way it is at present will only lead to numerous snagging problems later. Maintaining temporary power to these units until they are capable of being handed over will cost a fortune and who is expected to pay for it?

The logic behind Sunlands planning of this project mistifies me and I wish they would be a little more forthcoming about how they are going to do it because I only see a disaster in the making. But prove me wrong Sunland by letting us all in on the secret. Too much crystal ball gazing me thinks.

I am sorry, but I got this from the Palazzo Versace Dubai website under construction updates.:lol:

I don't know what your contract says, but I guess like most projects in Dubai it has been delayed by the Global Financial Crisis. I am sorry if you feel that I have misinformed you, but I just copied and pasted all the info from the Pallazo Versace website onto here. I still think that they are making progress though on the Palazzo Versace even if it seems slow.:cheers:

Face 81 couldn't have said it better. It is a lovely facade!!!!

I am sorry too Dubaiiscool, but clearly you haven't invested in this project and been given the run around by Sunland regarding completion dates for the past 3 years.

The point is this. When you post something from another source you are not sure if it is correct and by simply repeating it you lend credence to it. In fact it comes across to me as an investor as defending the indefenceable. This project is 2 years behind schedule and can only be occupied if temporary infrastructure facilities are provided. The cost of this is prohibitive and in any case Sunland have never indicated that this is an option they are considering. The reality is they stay very quiet when it comes to anything to do with the completion date.

Investors in this project should now be getting a return on their investment but Sunland don't want to even discuss that, instead they rely heavily on the RERA report from Scream!line which is misleading as it says 87% complete whereas in fact it should say 62% complete and 25% in procurement.

If I am wrong then someone from Sunland can refute it by posting the full Scream!line assessment not just the first page.

There is going to be a time, very soon, when Sunland will have to come clean about how they are managing this project. What they don't realise or even care about is that anyone with their hard earned cash in this project is a stakeholder and has a right to know what is going on.

http://www.rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/624_461.jpg

Can someone please give us some information concerning the current state of INFRASTRUCTURE in Culture Village. What surprises me most is that when many other developers are not building either because INFRASTRUCTURE is not in place or becaue DEWA or some other statutory agency is not allowing them to build, how come, Palazzo Versace and D1 have reached completion stage. What is the use of these couple of beautifully completed buildings when all around there is nothing but sand and abandoned buildings. For example, Dheeraj & East Coast have several projects in the area e.g. Cascade Ville, Cascade Manor, etc where they have built a floor or two and then abandoned because of both the authorities won't let them build and the INFRASTRUCTUE is lagging behind. Can someone tell us what is the current policy of Dubai Properties Group with regard to thr provision of INFRASTRUCTURE. Quite frankly, Culture Village is such a lovely location and lack of leadership in Culture Village has brought Dubai a very bad name.

Dubaiiscool,

Posting misleading and uninformed information like this without comment really isn't on unless you provide the actual completion date as well!!! So how long is it going to take to complete the final 13%?

The photograph you have posted clearly shows there is a lot of work to do externally and the internals cannot be progressed properly unless there is wild air provided to the building so that the timber floors, doors, kitchen units, wardrobes, plasterboard ceilings and walls can be installed without damage due to high humidity.

Carrying on with the work the way it is at present will only lead to numerous snagging problems later. Maintaining temporary power to these units until they are capable of being handed over will cost a fortune and who is expected to pay for it?

The logic behind Sunlands planning of this project mistifies me and I wish they would be a little more forthcoming about how they are going to do it because I only see a disaster in the making. But prove me wrong Sunland by letting us all in on the secret. Too much crystal ball gazing me thinks.

I have read quite a few of the negative comments regarding the finance and infrastucture issues surrounding the PV and am a little confused.

As far as I am aware, Sunland are continuing to build the PV (and the D1 for that matter).
Sunland still own quite of lot of both developments either because they held back some apartments/condos from their initial sales push or because they have repossessed them from defaulting owners.
There is no Off Plan market so these developments won't be worth anything (to either Sunland or other investors) until they are Complete.
Investors will not pay the last installment of their payment plan until the developments are Complete. And Complete means that there is adequate infrastructure in place.

My conclusion therefore is that Sunland and the investors in the PV and D1 are all in the same boat and that if Sunland didn't think they could either raise the necessary finance or get the infrastructure to Complete these developments they would have abandoned them both long ago.

It is just not in Sunland's interests to continue to spend money on these developments unless they were confident that they would be able to Complete them.

I am not really sure about substations etc, but I just want to ask anybody who might know if they might actually use the Dubai Health Care City substation or any other that is near culture village until there is more demand in Culture Village?

All other infrastructure seems to be in place like bridges, metro except for things that can be done quickly like lights asphalt and du/etisalat.

I have read quite a few of the negative comments regarding the finance and infrastucture issues surrounding the PV and am a little confused.

As far as I am aware, Sunland are continuing to build the PV (and the D1 for that matter).
Sunland still own quite of lot of both developments either because they held back some apartments/condos from their initial sales push or because they have repossessed them from defaulting owners.
There is no Off Plan market so these developments won't be worth anything (to either Sunland or other investors) until they are Complete.
Investors will not pay the last installment of their payment plan until the developments are Complete. And Complete means that there is adequate infrastructure in place.

My conclusion therefore is that Sunland and the investors in the PV and D1 are all in the same boat and that if Sunland didn't think they could either raise the necessary finance or get the infrastructure to Complete these developments they would have abandoned them both long ago.

It is just not in Sunland's interests to continue to spend money on these developments unless they were confident that they would be able to Complete them.

Do you work for them or what, since " your " conclusions are exactly the same of their? So funny to subscribe to SSC just to post that here, it´s your right of course, but funny as well.

Face 81 couldn't have said it better. It is a lovely facade!!!!

I am sorry too Dubaiiscool, but clearly you haven't invested in this project and been given the run around by Sunland regarding completion dates for the past 3 years.

The point is this. When you post something from another source you are not sure if it is correct and by simply repeating it you lend credence to it. In fact it comes across to me as an investor as defending the indefenceable. This project is 2 years behind schedule and can only be occupied if temporary infrastructure facilities are provided. The cost of this is prohibitive and in any case Sunland have never indicated that this is an option they are considering. The reality is they stay very quiet when it comes to anything to do with the completion date.

Investors in this project should now be getting a return on their investment but Sunland don't want to even discuss that, instead they rely heavily on the RERA report from Scream!line which is misleading as it says 87% complete whereas in fact it should say 62% complete and 25% in procurement.

If I am wrong then someone from Sunland can refute it by posting the full Scream!line assessment not just the first page.

There is going to be a time, very soon, when Sunland will have to come clean about how they are managing this project. What they don't realise or even care about is that anyone with their hard earned cash in this project is a stakeholder and has a right to know what is going on.

You said all. My compliments.

Clearly skinnygirl is a mole planted by Sunland to put a positive spin on the current status of this project and anything she posts should be confined to the wastebin.
On my last visit to site the infrastructure was at a standstill as it has been for the past 2 years. I saw 2 other developers vainly trying to progress their building but the remainder have not done anything or have stopped. I did see what might be a temporary district cooling plant being worked on near the metro line but other than that, nothing.
The extended completion date for Palazzo Versace as mentioned in the contract (should you have been unfortunate to have signed it) is end of this month. Now I know Arabtec can work quickly but somehow I think this date is going to be missed as all other dates have been. Once this happens Sunland are in material breach of contract!!!
If any investors, and I repeat investors, are interested in knowing how to get at Sunland then feel free to send me a PM. They think they are bullet proof but they aren't!

Boys - there still seems to be some confusion!
My previous comment was based entirely on a logical argument as I believe Sunland have far more to lose by continuing to build (if they believe the project is doomed) than they do by abandoning it. What I am saying therefore, is that Sunland believe they will Complete the project.
So far, no one has addressed that logic to dispute my argument!
For clarification, I do not represent Sunland or any of its associates in any capacity. On the contrary, I am an investor.
The Anticipated Completion Date, as defined in the revised contract, says it will be between 31 March 2011 and 30 June 2011 but may be extended in accordance with another clause.
This other clause says the Seller (Sunland) may extend the Completion date by up to 12 months or more and if they invoke Force Majeure they can extend it for even longer.
Force Majeure includes (and I quote) "delays in provision of utilitiesto the Plot by local and/or governmental authorities".
So, according to my thinking, the project will be Competed but not for at least another 12 months and then even longer of the utilities are not in place.
However, I repeat that it is in Sunland's interests to Complete as soon as possible because they still own a significant number of unsold apartments/condos which will be a little interest to buyers until the project in Complete or nearly Complete.
To axe2grind and farodhaled - I am sorry if this all sounds too positive for you both but unless you can defeat the logic I'm afraid you're stuck with it!

Boys - there still seems to be some confusion!
My previous comment was based entirely on a logical argument as I believe Sunland have far more to lose by continuing to build (if they believe the project is doomed) than they do by abandoning it. What I am saying therefore, is that Sunland believe they will Complete the project.
So far, no one has addressed that logic to dispute my argument!
For clarification, I do not represent Sunland or any of its associates in any capacity. On the contrary, I am an investor.
The Anticipated Completion Date, as defined in the revised contract, says it will be between 31 March 2011 and 30 June 2011 but may be extended in accordance with another clause.
This other clause says the Seller (Sunland) may extend the Completion date by up to 12 months or more and if they invoke Force Majeure they can extend it for even longer.
Force Majeure includes (and I quote) "delays in provision of utilitiesto the Plot by local and/or governmental authorities".
So, according to my thinking, the project will be Competed but not for at least another 12 months and then even longer of the utilities are not in place.
However, I repeat that it is in Sunland's interests to Complete as soon as possible because they still own a significant number of unsold apartments/condos which will be a little interest to buyers until the project in Complete or nearly Complete.
To axe2grind and farodhaled - I am sorry if this all sounds too positive for you both but unless you can defeat the logic I'm afraid you're stuck with it!

FYI - Already received my delay notification / extension claiming Force Majeure. Extension a minimum of 15 months from 30 June 2011. Considering that these things are only ever delayed further I would anticipate handover of the residences no earlier than end 2012 with the hotel another 6 months after that (Note - that's just my opinion).

I agree that the project is worthless unless it is completed but to complete they need sufficient funds. Sales are at a relative standstill and many investors have defaulted. I'm not sure if they have secured bank financing yet but the Force Majeure extension at least gives them the contractual means to delay. But they are still moving forwards and there is continual progress so one would assume that they are fairly positive they can resolve the situation and deliver the project - otherwise they might as well just put it on hold.

Staying positive (becasue you have to at this stage!!), maybe that's a good thing - prices have a chance to pick up again and who knows, maybe us investors (who have financed this project) will get a little return as well???

Clearly skinnygirl is a mole planted by Sunland to put a positive spin on the current status of this project and anything she posts should be confined to the wastebin.
On my last visit to site the infrastructure was at a standstill as it has been for the past 2 years. I saw 2 other developers vainly trying to progress their building but the remainder have not done anything or have stopped. I did see what might be a temporary district cooling plant being worked on near the metro line but other than that, nothing.
The extended completion date for Palazzo Versace as mentioned in the contract (should you have been unfortunate to have signed it) is end of this month. Now I know Arabtec can work quickly but somehow I think this date is going to be missed as all other dates have been. Once this happens Sunland are in material breach of contract!!!
If any investors, and I repeat investors, are interested in knowing how to get at Sunland then feel free to send me a PM. They think they are bullet proof but they aren't!

Tks and good luck

Boys - there still seems to be some confusion!
My previous comment was based entirely on a logical argument as I believe Sunland have far more to lose by continuing to build (if they believe the project is doomed) than they do by abandoning it. What I am saying therefore, is that Sunland believe they will Complete the project.
So far, no one has addressed that logic to dispute my argument!
For clarification, I do not represent Sunland or any of its associates in any capacity. On the contrary, I am an investor.
The Anticipated Completion Date, as defined in the revised contract, says it will be between 31 March 2011 and 30 June 2011 but may be extended in accordance with another clause.
This other clause says the Seller (Sunland) may extend the Completion date by up to 12 months or more and if they invoke Force Majeure they can extend it for even longer.
Force Majeure includes (and I quote) "delays in provision of utilitiesto the Plot by local and/or governmental authorities".
So, according to my thinking, the project will be Competed but not for at least another 12 months and then even longer of the utilities are not in place.
However, I repeat that it is in Sunland's interests to Complete as soon as possible because they still own a significant number of unsold apartments/condos which will be a little interest to buyers until the project in Complete or nearly Complete.
To axe2grind and farodhaled - I am sorry if this all sounds too positive for you both but unless you can defeat the logic I'm afraid you're stuck with it!

Putting aside the condescending tone of this post I just don't buy into skinnygirl being an investor and these are my reasons :

1. She responded too quickly to my post, probably as soon as she got into her Sunland office and checked this website for any responses to her
" positive" post.
2. She appears to be happy that Sunland are delayed and holding on to her money which must be a minimum of AED.5-6million if she is fully paid up.
3. She then goes on to merrily quote us "boys" chapter and verse about Force Majeure and that Sunland are within their rights contractually to do so. You have got to be having a laugh!!!
4. Is it purely coincidental that her first post coincides with the notification that Sunland have given a Force Majeure notice.

Skinnygirl if you are a genuine investor you need to prove it!! Until you do I will consider you an Agent Provocateur.

Oh, the Spider and the Fly thing? Its a poem by Mary Howitt with the opening line of "Will you walk into my parlour?" said the spider to the fly.

I have been trying to tempt a Sunland representative for months to post on this forum and finally when they think it is safe to say something, following the FM notification, they do.

Well, welcome little fly!

FYI - Already received my delay notification / extension claiming Force Majeure. Extension a minimum of 15 months from 30 June 2011. Considering that these things are only ever delayed further I would anticipate handover of the residences no earlier than end 2012 with the hotel another 6 months after that (Note - that's just my opinion).

I agree that the project is worthless unless it is completed but to complete they need sufficient funds. Sales are at a relative standstill and many investors have defaulted. I'm not sure if they have secured bank financing yet but the Force Majeure extension at least gives them the contractual means to delay. But they are still moving forwards and there is continual progress so one would assume that they are fairly positive they can resolve the situation and deliver the project - otherwise they might as well just put it on hold.

Staying positive (becasue you have to at this stage!!), maybe that's a good thing - prices have a chance to pick up again and who knows, maybe us investors (who have financed this project) will get a little return as well???

I hate to say it but I did warn investors in this project that Sunland would eventually play the Force Majeure card. See my post 160 on 15th March 2011.

However, Sunland have played right into investors hands by issuing a Force Majeure notice. I will not go into detail on this open forum due to the likes of skinnygirl but I urge all investors in this project, and investors in other projects, to seek legal advice as Sunland have now shot themselves in the foot.

If you PM me I will explain how to go about this but I will ask for certain information from you to prove you are who you say you are.

Failure to act will ultimately lead to your money being tied up for years without any return or loosing it completely.

So Guys...to summarise.

Both the PV and D1 are still moving forward - albeit slowly.

Obviously, Sunland have problems with the provision of utilities etc and this may be linked to their ability to either raise a loan or spend the funds from a loan they've already raised. However, they clearly believe they will successfully Complete both projects so they must be confident in both raising sufficient funds and sorting out the provision of utilities etc.

In addition to which, and as mentioned previously, they still own a significant number of condos/apartments in both developments, which are worth virtually nothing until Complete, so it is in their interest to Complete as soon as possible. At the risk of being repetitive - they are in the same boat as us investors and that is really important.

A rough guess at Completion would be end of 2012 to mid 2013 and if it's earlier then it's a nice surprise! I would think Sunland would try and Complete both developments on the same date as to Complete one, when the other is still a building site, doesn't make much sense.

So...what to do?

Despite axe2grind's view, there appears to be no chance of successful legal action as Sunland are still acting within the terms of the S&P contract.
However, if you think 'old axe' can help you, give him a go - but I suggest you don't pay anything up front for his advice.

We could stop paying, but if your contract is the same as mine, the big payment comes at Completion at which time it will (hopefully) be 'happy days' all round.

If we stop paying any pre Completion installments, Sunland may take legal action - which will need to be defended and inevitably there would be late payment interest charges. So that route seems rather pointless (and costly)

Why not contact Zeina Khoury at Sunland and ask her what's what? She is the head of Customer Services and has been very helpful in the past.
Or, you could be like 'old axe' and pretend you're a spider in a palour enticing a fly into your web! But I think contacting Zeina would be more straightforward and less laughable!

Oh and on that note 'axe' - I am not an Agent Provocateur - I wear their stuff but that's as close as it gets!

I look forward to reading some constructive and sensible updates and like the rest of us, seeing continuing progress in the development of both the PV and the D1

So Guys...to summarise.

Both the PV and D1 are still moving forward - albeit slowly.

Obviously, Sunland have problems with the provision of utilities etc and this may be linked to their ability to either raise a loan or spend the funds from a loan they've already raised. However, they clearly believe they will successfully Complete both projects so they must be confident in both raising sufficient funds and sorting out the provision of utilities etc.

In addition to which, and as mentioned previously, they still own a significant number of condos/apartments in both developments, which are worth virtually nothing until Complete, so it is in their interest to Complete as soon as possible. At the risk of being repetitive - they are in the same boat as us investors and that is really important.

A rough guess at Completion would be end of 2012 to mid 2013 and if it's earlier then it's a nice surprise! I would think Sunland would try and Complete both developments on the same date as to Complete one, when the other is still a building site, doesn't make much sense.

So...what to do?

Despite axe2grind's view, there appears to be no chance of successful legal action as Sunland are still acting within the terms of the S&P contract.
However, if you think 'old axe' can help you, give him a go - but I suggest you don't pay anything up front for his advice.

We could stop paying, but if your contract is the same as mine, the big payment comes at Completion at which time it will (hopefully) be 'happy days' all round.

If we stop paying any pre Completion installments, Sunland may take legal action - which will need to be defended and inevitably there would be late payment interest charges. So that route seems rather pointless (and costly)

Why not contact Zeina Khoury at Sunland and ask her what's what? She is the head of Customer Services and has been very helpful in the past.
Or, you could be like 'old axe' and pretend you're a spider in a palour enticing a fly into your web! But I think contacting Zeina would be more straightforward and less laughable!

Oh and on that note 'axe' - I am not an Agent Provocateur - I wear their stuff but that's as close as it gets!

I look forward to reading some constructive and sensible updates and like the rest of us, seeing continuing progress in the development of both the PV and the D1

Well the condescending comments continue to flow from the pen of skinnygirl! First we're boys, then we're guys and I am now "old". Love it, love it, love it. But you should be aware that its the "big boys" you're playing with. If you used a bit of wit and humour when posting it might make the bitter pill of "positive thinking" that you are promoting a little more palatable to swallow.

So, according to skinnygirl her "rough guess at completion would be end of 2012 mid 2013". So here we are with guesswork again and I am being told to be positive! Lets just say it as it is, Sunland and skinnygirl don't have a clue when completion will take place because they don't have a positive plan of how to achieve it. Its just guesswork again and I'm sorry but as a construction professional who has built a number of 5 star hotels in Dubai its just not acceptable.

This my "positive" suggestion for you skinnygirl. If Sunland employ the services of a project manager who knows what he is doing to put a completion programme together with a confirmed completion date and link this to an addendum to the SAP agreement. Add a clause regarding a revised payment plan linked to the completion date and include a penalty to be paid by Sunland should the date not be achieved. Can you buy into that skinnygirl?

In my opinion this would allow investors to approach sources of finance on a project that will be completed and hence a return and to quote skinnygirl "happydays".

I'm not going into the other stuff that skinnygirl posted about FM or chances of success in legal action or arbitration against Sunland but they are clearly between a rock and a hard place with the extended contractual completion date at the end of this month.

However skinnygirl, I have not requested payment of any fees for any advice and you should withdraw this statement. It is against the rules of this forum to do so and you should know better than to say so. By posting such a comment I think you are from the legal department at Sunland. If you do not withdraw this statement I will firstly lodge a complaint with the moderators of the forum and then report you to your professional body for professional misconduct.

I did previously say that I would require proof that you are an investor so here it is. If you are what you say you are then you will have no problem with the following. Send me a PM with a copy of your signed contract page indicating the unit number you have purchased, price paid and the completion date together with a copy of your passport and driver's license. Anything less then whatever you wear it still smells the same!!!!

And finally, this is "old axe" signing off on another lengthy response to those who wish to defend the indefenceable.

And skinnygirl keep with the unbelievable investor speech.
Better ignore, since her wrong attitude with Axe show how inappropriate she can be on her statement as a simple investor, of course. Call at her office and see how sunland, oops, any investor can be quite safe and relaxed about it despite of terms and reality. Just a joke folks, great mood today. :ohno:

A few shots of show residence..

http://www.hoteliermiddleeast.com/pictures/gallery/In%20Pictures/Palazzo%20Versace/300x200/640x422/Palazzo-Versace-Dubai-big%20table.jpg

http://www.hoteliermiddleeast.com/pictures/gallery/In%20Pictures/Palazzo%20Versace/300x200/640x422/Palazzo-Versace-Dubai-table%20from%20side.jpg

http://www.hoteliermiddleeast.com/pictures/gallery/In%20Pictures/Palazzo%20Versace/300x200/640x422/Palazzo-Versace-Dubai-sofa.jpg

http://www.hoteliermiddleeast.com/pictures/gallery/In%20Pictures/Palazzo%20Versace/300x200/640x422/Palazzo-Versace-Dubai-loung.jpg

http://www.hoteliermiddleeast.com/pictures/gallery/In%20Pictures/Palazzo%20Versace/300x200/640x422/Palazzo-Versace-Dubai-beddi.jpg
http://www.hoteliermiddleeast.com/11558-photos-first-look-at-palazzo-versace-dubai-hotel/

Hello Parisian Girl

Thanks for the pics

Do you any of the show apartment in the D1?

Hi Number 49,

You're welcome! Sorry, nothing on D1, but if I find anything I'll post them for you.

Probably against my better judgment....but I will respond.

I have tried to base my views on logic and rationale.
Obviously, I have used some guesswork as the situation is fluid. As investors we may not like it but that's the reality.

I based my estimated Completion date on the fact that the FM extends it to at least 30 Sept 2012 and then I added 3 - 6 months as the devil of Completion is always in the detail. Unfortunayely, it could be longer, but (repeating myself again) it is in Sunland's financial interest to Complete as soon as possible.
So it was a guess but a guess with some basis.

There is no logic behind the belief that Sunland are going to rip off the investors. Firstly, they would have more to lose than gain and secondly, they would have done it months ago if that was their plan. Not only is there no logic, there's no evidence either!

Sunland are quite within their legal rights to extend the Completion date using the Force Majeure clause. It's part of the contact!!
Again, as investors this extension is frustrating but Axe's statement that they are in material breach is nonsense.

As investors we would all like the PV and D1 to have been Completed by now and our asset to be worth considerably more than we paid for it, but the reality is that the market collapsed and looking at some of the other projects in Dubai, we could be a lot worse off. I expect Sunland would also like to have Completed both developments, made a whole lot of money and moved on to another PV, but they are also having to deal with the reality.

Axe and his faithful friend farodsomethingorother seem to delight in being merchants of doom but (so far) I haven't seen any argument of substance that supports their pessimistic outpourings. It seems from the previous entries on this forum that if anything remotely positive is said about Sunland or the PV dear old axe gets all hot, bothered and threatening.Probably some reason for this but really...who cares?

Anyway enough from me until we hear something more from Sunland and I look forward to seeing more pics of the development as it progresses - albeit slowly!!

And Axe....if you are going to sign of with the phrase "defend the indefenceable" it would be advisable to check the spelling....it's indefensible (and so was your spelling mistake)!!

LoL and cheer up.

Its been a bit quiet on this thread for the past 6 weeks or so but I suppose thats to be expected with an alleged Force Majeure event affecting progress at site. In fact only movement of any kind has been the project management team heading for the basement (perhaps a real Force Majeure event is on the way) and Sunland vacating their sales office at the Gold and Diamond Park on SZR.:ohno:

There have been a few contributors putting some guesswork together as to when this project is likely to get started again but it doesn't need guesswork as the logical minds would know that it is going to be between 30 and 36 months when DEWA get round to installing the 132kV substation that Cultural Village needs to be fully operational.:bash::bash::bash:

Things have moved along a little recently with two important issues regarding Force Majeure being decided in the Civil Courts and at DIAC. Firstly, the Dubai Civil Courts have ruled that the world financial crisis is not a Force Majeure event, and, secondly, an investor at Dubai Marina has won an award against a defaulting developer for late completion despite the developer claiming Force Majeure for late delivery of infrastructure by the master developer. SOUND FAMILIAR. Remember an award at arbitration cannot be appealed!

The Genie is now out of the bottle as far as the use of FM as an excuse by developers for the delays that have bedevilled numerous projects in Dubai. One question that should be asked of Sunland is why have they waited until just before the end of the extended contractual completion date in the SAP Agreement (ie. June 2011) to state that the project is delayed due to Force Majeure when Dubai Properties walked off Cultural Village end of 2008. In other words they have known for nearly two and half years that they would not be able to complete the project without the infrastructure. Its been a cynical move on their part to deceive investors that everything is okay and demand payment or we'll cancel your contract due to payment default. Well Sunland should be aware that the UAE Civil Code protects both parties to a contract and in particular Article 247 of Federal Law 5 of 1985 applies if you refused to pay due to lack of progress. Any claim to a Force Majeure event should be made as soon as it was known and Sunland knew end of
2008.

Anyone who has had their contract cancelled in this manner should seek legal advice and that applies to every project in Dubai not just this one. Sunland had no "Right" to claim FM when they did.

So what now for Palazzo Versace and Sunland. My view is that they will circle the wagons and continue to bluff their way through for a while until the mounting arbitration/litigation costs results in them divesting themselves of any involvement and heading back to the Gold Coast (remember White Bay). During Force Majeure their is no income only outgoings. Cost cutting has already commenced with the sales team going, what/who will be next?

Oh, nearly forgot, spellcheque please!!

:dance:

No good news for this guys :P I´m new in skyscrapercity and I was trying to see if the icons work :cheers:

Its been a bit quiet on this thread for the past 6 weeks or so but I suppose thats to be expected with an alleged Force Majeure event affecting progress at site. In fact only movement of any kind has been the project management team heading for the basement (perhaps a real Force Majeure event is on the way) and Sunland vacating their sales office at the Gold and Diamond Park on SZR.:ohno:

There have been a few contributors putting some guesswork together as to when this project is likely to get started again but it doesn't need guesswork as the logical minds would know that it is going to be between 30 and 36 months when DEWA get round to installing the 132kV substation that Cultural Village needs to be fully operational.:bash::bash::bash:

Things have moved along a little recently with two important issues regarding Force Majeure being decided in the Civil Courts and at DIAC. Firstly, the Dubai Civil Courts have ruled that the world financial crisis is not a Force Majeure event, and, secondly, an investor at Dubai Marina has won an award against a defaulting developer for late completion despite the developer claiming Force Majeure for late delivery of infrastructure by the master developer. SOUND FAMILIAR. Remember an award at arbitration cannot be appealed!

The Genie is now out of the bottle as far as the use of FM as an excuse by developers for the delays that have bedevilled numerous projects in Dubai. One question that should be asked of Sunland is why have they waited until just before the end of the extended contractual completion date in the SAP Agreement (ie. June 2011) to state that the project is delayed due to Force Majeure when Dubai Properties walked off Cultural Village end of 2008. In other words they have known for nearly two and half years that they would not be able to complete the project without the infrastructure. Its been a cynical move on their part to deceive investors that everything is okay and demand payment or we'll cancel your contract due to payment default. Well Sunland should be aware that the UAE Civil Code protects both parties to a contract and in particular Article 247 of Federal Law 5 of 1985 applies if you refused to pay due to lack of progress. Any claim to a Force Majeure event should be made as soon as it was known and Sunland knew end of
2008.

Anyone who has had their contract cancelled in this manner should seek legal advice and that applies to every project in Dubai not just this one. Sunland had no "Right" to claim FM when they did.

So what now for Palazzo Versace and Sunland. My view is that they will circle the wagons and continue to bluff their way through for a while until the mounting arbitration/litigation costs results in them divesting themselves of any involvement and heading back to the Gold Coast (remember White Bay). During Force Majeure their is no income only outgoings. Cost cutting has already commenced with the sales team going, what/who will be next?

Oh, nearly forgot, spellcheque please!!

Seems sometime since we heard from Skinnygirl, very surprised she hasn't jumped down my throat again with her logical approach to being ripped off!!! My feeling is that as Emirates Sunland have got rid of their Legal Counsel, Skinnygirl has gone as well. Has she been a victim of the cost cutting!
The news on the arbitration/litigation front continues be very positive for investors as a number of litigants have succeeded against errant developers especially when the defence has been the dreaded Force Majeure.
:banana:

I am with Axe3Grind all the way as other developers are pursuing exactly the same "cunning tactics" as Sunland. Admittedly Sunland is caught between a rock and a hard place, however thats what you have to deal with when playing the emerging market domain - you have to balance greed with risk, especially when being a reputable developer with a track record. So tough luck Sunland and now it seems their "out" is to run for the hills. Pathetic.
Can anyone supply me with details on the verdict from Civil Courts denouncing Financial Crisis as Force Majeure (can you believe it?). Dubai Pearl has built a case around the same argument, however so far it has taken 1 year and we are still waiting for an expert to write up a report on this "no-brainer". Meanwhile the developer sits on my millions. Sounds familiar?

Unbelievably vulgar decor.

Unbelievably vulgar decor.

Versace designs are all gaudy, brash and "in your face" (and maybe a little vulgar) but that is their intrinsic style - in other words that's what Versace was (and still is) famous for.
Criticising the decor for being vulgar and ugly is a bit like criticising the Burj Khalifa for being too tall!

So...Sunland are heading for the hills?! Any evidence of that? Any evidence of anything to substantiate the scaremongering?

Some positive news:

The following Article appeared in the magazine "The Rich Traveller" dated 31 August 2011

Fashion designers continue to showcase their designs in hotel rooms with Signore Armani opening in Milano this fall, a London Bulgari Hotel scheduled for early 2012 and Dubai’s Palazzo Versace, which is expected to debut in early 2012

With 213 suites, 169 private residences, a spa, a Versace ready-to-wear and jewelry boutique, fine Italian dining and a private marina, a number of pools including a lagoon pool, ornamental pools, reflecting ponds, and, of course, private pools, the Palazzo Versace is designed as a mini Versailles, more than a hotel.

The hotel recently unveiled its first show residences and making debut was 4,732 sq ft of private living space designed in unabashedly flaunts lavish colors, glamour and design, centered on a grand reception room, while mosaics, marble floors, and exclusive Versace furniture fill up the residences.

Truly the hotel will carry forward the grandiosity and flamboyance of Gianni Versace through the halls of the Palazzo Versace. This will be one to watch out for!

Well shutting down their sales department and playing the Force Majeure card appears a tad defensive. I must admire your PR efforts on behalf of Sunland - Saddams talking parrot could not have done a better job. Lets face the facts: Versace is indefinitely delayed due to problems shared by both investors and the developer = no cash and decreasing asset value. Even the best Versace spin will not change this fact. Meanwhile the glorified Cultural Village will not be happening for the next 10-15 years leaving the "Palace" stranded on a bare strip of Creek. Sorry, throw in the glorious sight and noise of the generators powering the Palace.

So...Sunland are heading for the hills?! Any evidence of that? Any evidence of anything to substantiate the scaremongering?

Some positive news:

The following Article appeared in the magazine "The Rich Traveller" dated 31 August 2011

Fashion designers continue to showcase their designs in hotel rooms with Signore Armani opening in Milano this fall, a London Bulgari Hotel scheduled for early 2012 and Dubai’s Palazzo Versace, which is expected to debut in early 2012

With 213 suites, 169 private residences, a spa, a Versace ready-to-wear and jewelry boutique, fine Italian dining and a private marina, a number of pools including a lagoon pool, ornamental pools, reflecting ponds, and, of course, private pools, the Palazzo Versace is designed as a mini Versailles, more than a hotel.

The hotel recently unveiled its first show residences and making debut was 4,732 sq ft of private living space designed in unabashedly flaunts lavish colors, glamour and design, centered on a grand reception room, while mosaics, marble floors, and exclusive Versace furniture fill up the residences.

Truly the hotel will carry forward the grandiosity and flamboyance of Gianni Versace through the halls of the Palazzo Versace. This will be one to watch out for!

Sorry to jump on the anti-SkinnyGirl bandwagon, but the inclusion of this article only fuels the arguement that there is a massive smokescreen campaign..I am totally fed up with reading articles that offer no more info than when the project was released 4 years ago, and offers expectations of compltion that are just make believe.

Just who are they trying to kid??? However maybe investors need to think this through......if we get together and add to the smoke screen, we could fool the world that everything is GREAT and maybe we can sell at OP to Uber rich tycoons that can afford to wait for completion.....Maybe we could get a job with Sunland :)

. I must admire your PR efforts on behalf of Sunland - Saddams talking parrot could not have done a better job.

LOL, Couldn't have said it better myself!!!!

Some positive news:

The following Article appeared in the magazine "The Rich Traveller" dated 31 August 2011

Fashion designers continue to showcase their designs in hotel rooms with Signore Armani opening in Milano this fall, a London Bulgari Hotel scheduled for early 2012 and Dubai’s Palazzo Versace, which is expected to debut in early 2012.

Truly the hotel will carry forward the grandiosity and flamboyance of Gianni Versace through the halls of the Palazzo Versace. This will be one to watch out for!

The only thing positive about this load of old tripe is that The Rich Traveller doesn't check its facts before printing its articles. Perhaps they should be told the real story!!

Palazzo Versace will positively not debut early 2012, and I'm unanimous on that!!!!

Well, that article certainly rattled a few cages! I thought it might cheer you boys up a bit, but obviously it had the opposite effect.

However, as a number of you have seen fit to dismiss my comments, I think it only fair that I respond to some of the suggestions you guys have made.

So...here goes:

Legal action against the force majeure

Well, you can sue Sunland or at least try. It will take a lot of time and money but if that's how you see the way forward...best of luck.

The major stumbling block (as I see it) is that Sunland's defence will be that the delays have been caused by the Master Developer, which is Dubai Properties ("DP"), and if you are successful in your action against Sunland (and that's a very big "if"), then they, in turn, will use the ruling as a basis for a case against DP.
Now, as you are aware, DP is owned by the government, so you will in effect be asking the courts to give you a judgment that may well result in a successful action by Sunland against the Royal Family.

What do you think?
Unlikely (to put it mildly) would be my guess.

A schoolboy suggestion was that the investors get together and try and publish a lot of negative stories about Sunland, the PV and Culture Village. Not sure who will benefit from that strategy, certainly not the PV investors, so what's the point?

Investors could withhold any outstanding payments to Sunland and I'm sure many already have taken this option. However, this is a high risk strategy and may well result in repossession.

Sunland can demonstrate that they are still building, so there is no chance of the project being cancelled, and the only counter argument will be that the Completion date has slipped, to which the will say that they have enacted the force majeure clause and we are back to the first scenario!

Next option is to try and sell. Well, sadly, there is no market for off plan/uncompleted properties, so unless you're going for a fire sale, you might as well forget it.

The favoured option, looking at the comments on his forum, is to threaten a lot but actually do nothing except continually moan about Sunland, Culture Village and the PV. Whilst this seems to promote "male bonding" and the anti-Skinny Girl bandwagon is now pretty crowded, it doesn't address the reality of the situation.
No one forced you to make the investment in the first place, so maybe you ought to be a bit more grown up about it and live with the consequences?

The reality is that there is no mileage in going to war with Sunland. They're neither "putting up a smokescreen" nor "heading for the hills". They are in the same boat as us investors and probably just as frustrated with the delays.

It is in their financial interest to get the PV completed as soon as possible, but what do you expect them to do - take DP to court? Dream on and see above!

One final thing, the Culture Village site is still a great location and sooner or later other developers will takeover the failed projects at bargain cost and the area will take off. It's basic economics and there are already positive signs beginning to appear so Mister Bister's 10-15 years is wildly pessimistic.

Well, that article certainly rattled a few cages! I thought it might cheer you boys up a bit, but obviously it had the opposite effect.

However, as a number of you have seen fit to dismiss my comments, I think it only fair that I respond to some of the suggestions you guys have made.

So...here goes:

Legal action against the force majeure

Well, you can sue Sunland or at least try. It will take a lot of time and money but if that's how you see the way forward...best of luck.

The major stumbling block (as I see it) is that Sunland's defence will be that the delays have been caused by the Master Developer, which is Dubai Properties ("DP"), and if you are successful in your action against Sunland (and that's a very big "if"), then they, in turn, will use the ruling as a basis for a case against DP.
Now, as you are aware, DP is owned by the government, so you will in effect be asking the courts to give you a judgment that may well result in a successful action by Sunland against the Royal Family.

What do you think?
Unlikely (to put it mildly) would be my guess.

A schoolboy suggestion was that the investors get together and try and publish a lot of negative stories about Sunland, the PV and Culture Village. Not sure who will benefit from that strategy, certainly not the PV investors, so what's the point?

Investors could withhold any outstanding payments to Sunland and I'm sure many already have taken this option. However, this is a high risk strategy and may well result in repossession.

Sunland can demonstrate that they are still building, so there is no chance of the project being cancelled, and the only counter argument will be that the Completion date has slipped, to which the will say that they have enacted the force majeure clause and we are back to the first scenario!

Next option is to try and sell. Well, sadly, there is no market for off plan/uncompleted properties, so unless you're going for a fire sale, you might as well forget it.

The favoured option, looking at the comments on his forum, is to threaten a lot but actually do nothing except continually moan about Sunland, Culture Village and the PV. Whilst this seems to promote "male bonding" and the anti-Skinny Girl bandwagon is now pretty crowded, it doesn't address the reality of the situation.
No one forced you to make the investment in the first place, so maybe you ought to be a bit more grown up about it and live with the consequences?

The reality is that there is no mileage in going to war with Sunland. They're neither "putting up a smokescreen" nor "heading for the hills". They are in the same boat as us investors and probably just as frustrated with the delays.

It is in their financial interest to get the PV completed as soon as possible, but what do you expect them to do - take DP to court? Dream on and see above!

One final thing, the Culture Village site is still a great location and sooner or later other developers will takeover the failed projects at bargain cost and the area will take off. It's basic economics and there are already positive signs beginning to appear so Mister Bister's 10-15 years is wildly pessimistic.

The talking parrot has out done herself this time. What a load of old rubbish and scaremongering! I'm afraid this post is going to be quite lengthy and I will respond to each of the points she has raised.

1. Cages have been rattled. No they haven't, people are just angry at the continual rubbish you post with fictional completion dates. The cage that has been rattled is the one you escaped from.
2.Don't use your right to take action against Sunland as it will be too expensive. WRONG! Yes it will cost to take action, and, if you have signed the Sunland SAP Agreement then under clause 16.18 Dispute Resolution, any dispute is to be referred to the Dubai International Arbitration Centre following your attempts to try an settle amicably with Sunland. They have a set scale of charges for conducting any arbitration which are based on the value of your claim. So if the claim is AED.1 million the costs are AED.67,250.00 plus your lawyers fees. If the claim is AED.4 million the costs are AED.152,750.00 plus your lawyers fees. This can be checked on the DIAC website on their cost calculator as can all the other info. about how the arbitration process works. If you haven't signed the SAP Agreement and only have a Reservation Agreement then you have to proceed to the Dubai Civil Courts. The costs here are as follows, court fee 7.5% of the value of your claim up to a maximum of AED.30,000.00. Recently the courts have been basing the fee on the contract value but its still a maximum of AED.30,000.00plus your lawyers fees and most charge 10% on the value of the claim. Invariably they will want this all up front. If you want to know a different way send me a PM. The courts will ask for a report on the project from RERA and the judge may also require an experts opinion. So, yes it costs you some money but not any where near what you will have invested in this development. On a successful award in arbitration you will get all your investment back, costs of arbitration and legal fees together with interest and any penalties contained in the contract. On a successful outcome in court you will get your investment back and interest at a rate of 12%, this high rate is to cover legal fees and other costs of the action. This rate commences from the date you start the action until award. The question is 'what are my chances of success"? The answer later in the post.
3. Don't sue Sunland because you are effectively suing the government of Dubai. WRONG. There is no link between the SAP Agreement and the contract that Sunland have with Dubai Properties. The suing of Dubai Properties is all their own problem and if you don't think that Sunland have had their lawyers working on this scenario then you would be mistaken. Sunland already have a number of investors taking legal action against them and their former architects are also litigating over AED.8 million in unpaid consultancy fees. Sunland also took out a criminal action against a talk show lawyer over truthful comments made live on air when answering questions from listeners. This cynical move has also failed and all trumped up charges were dismissed.
4. The talking parrot is correct about investor groups taking action jointly. They don't work and class actions are not permitted in the legal system here. The only thing they achieve is a sharing of information. All cases have to be heard separately.
5. Withold payment. ABSOLUTELY. There are Civil Codes to protect parties to a contract and I referred to one of them in an earlier post that protects you if you withold payment. there are also codes regarding misrepresentation and Sunland have clearly misrepresented what has been going on.
6.The talking parrot continues with her stupid jibes about male bonding, cheering up the boys, she needs to get a life but somewhere else.
7. So we come down to the What are my Chances of Success. Well they are excellent providing you have put the necessary legal notices in place and attempted amicable settlement. Sunland have played their final hand with the cynical move of declaring "Force Majeure" just days before the the very extended Anticipated Completion Date of June 2011 as I had predicted they would. Well this isn't going to fly and here are the reasons.
A Force Majeure event should be notified as soon as it is known. Sunland would have you believe that they only knew of the failure of the master Developer to provide infrastructure end of June 2011. WRONG. They knew end of 2008 when Dubai Properties ceased work on Cultural Village. This is the misrepresentation covered by the UAE civil code.
Force Majeure is not intended to excuse negligence or other wrong doing. It does not excuse non-performance which is caused by the usual and natural consequences of external forces. For example where the intervening circumstances are specifically contemplated. A Master Developer's failure to provide infrastructure is NOT a force Majeure event. This is not an event that could not have been contemplated. When the Master Developer/Developer sold projects they knew that the infrastructure did not exist. Building that infrastructure was a contemplated event. Including such event in the definition of Force Majeure would defeat the purpose of the contract. Developer's failure to have the infrastructure built, therefore, is not a Force Majeure event unless there is an intervening Act of God. Therefore, in such circumstances a developer's failure to provide as per the contract would constitute a simple breach of contract which would be actionable at arbitration or in court. There have been a number of successes by investors recently where Force Majeure has been the defence by a defaulting developer. I know this first hand as I have achieved it.

The talking parrot is attempting to scare off any potential litigation by making it sound too expensive, time consuming and just too difficult to contemplate and spouting ridiculous comments like "dream on". Well this poor deluded woman is living in her own dream world and we should all leave her to it.

Thought I should just add a footnote about the Arbitration Centre costs. The figures I have quoted are the total cost. Each party should pay 50%, but todate, of the 50 odd cases I am dealing with, not one developer has paid their share. NOT ONE!!
Unfortunately the rules of the DIAC currently stand that for the case to continue following refusal by the Respondent to pay its share the Claimant has to pay THE FULL 100% to keep the case moving forward.
Yet another underhand tactic employed by these unscrupulous businesses. Its the Claimant (Purchaser) who has to front up with the cash yet again.
Its the developers who insisted on putting these dispute resolution clauses in the contracts and then they do everything to avoid going to arbitration.
WHY?
Because they are loosing them!

A British tourist goes to Australia on holiday and hears a story in a Sydney bar about an Aboriginee who owns a talking parrot.
The tourist is so fascinated by this story that he gets directions to where the parrot lives and finds the Aboriginee owner.
The tourist asks the Aboriginee if the talking parrot story is true and is told yes it is but be careful as the parrot is also very clever. Go and ask the parrot some questions the tourist is told.
So the tourist asks the parrot to tell him something about his life so far.
So the parrot says well I used to work for the CIA and was involved in some spying work in Iraq to find Sadaam Hussein. Once he was caught the CIA were so impressed with my work that they sent me to Afghanistan to do spy work there to find Bin Ladin. Once they had got rid of Bin Ladin I was asked to go to Libya to spy on Gadhafi. Once the rebels had taken control there I was retired from the CIA and I came here to live.
The tourist is so impressed that he decides he has to buy the parrot. So he asks the Aboriginee how much he would sell the parrot for.
The Aboriginee replies ten dollars.
The tourist tells the Aboriginee that the price is very cheap, why is that he enquires.
The Aboriginee replies well I wouldn't believe all those stories he tells you. He told me early today that his next job is working for a well known developer giving out bulletins when its project will be completed.

Some of you have stated Culture Village site is a great location and I agree one hundred percent. It is a fact of life that PALAZZO VERCACE is not going to be the only project in Culture Village. It is also a fact of life that it is not going to have value until rest of Culture Village starts taking shape. If someone tells me that it is going to take 10-15 years, I shall say this is extremely negative thinking and fear creating talk based on no evidence. The reason I say this is that I am authoritatively informed that the whole of the Culture Village development has issues which are currently being resolved by the top real estate powers of Dubai. Dubai Property Group is doing extremely poor job in not keeping the investors informed. Dubai is, unfortunately, notorious in lacking transparency. Despite all this, there is a bright side of the picture. I am willing to bet Culture Village will see considerable construction activity before the year is out. Let us see how many of you bet against me with logic and reasoning.

Some of you have stated Culture Village site is a great location and I agree one hundred percent. It is a fact of life that PALAZZO VERCACE is not going to be the only project in Culture Village. It is also a fact of life that it is not going to have value until rest of Culture Village starts taking shape. If someone tells me that it is going to take 10-15 years, I shall say this is extremely negative thinking and fear creating talk based on no evidence. The reason I say this is that I am authoritatively informed that the whole of the Culture Village development has issues which are currently being resolved by the top real estate powers of Dubai. Dubai Property Group is doing extremely poor job in not keeping the investors informed. Dubai is, unfortunately, notorious in lacking transparency. Despite all this, there is a bright side of the picture. I am willing to bet Culture Village will see considerable construction activity before the year is out. Let us see how many of you bet against me with logic and reasoning.

So if you have some inside information about activity being resumed by Dubai Properties on the Cultural Village site then please enlighten us all, we are all ears!!!
You should go back and read some of the previous posts about logic and time scales to get the infrastructure completed, its not logic just 30 years experience of construction.
The only sure bet at the moment is that deadlines are continually being floated and none of them have ever been achieved. What this is about is poor project management and a complete lack of "Risk Management" .

Enshaa takes over Palazzo Versace Dubai in swap deal

UAE developer Enshaa is to take full control of the under-construction Palazzo Versace Dubai hotel in a swap deal that will see the firm relinquish its stake in a finished Australian hotel.

Sunland Group, the firm’s Australian joint venture partner, will take 100 percent ownership of the Palazzo Versace Gold Coast, it said in a regulatory filing on Monday.

The company will release its 51 percent stake in the Versace-branded Dubai hotel and its 50 percent share of the D1 residential Tower Dubai in exchange for full control of the Australian hotel, which opened its doors 11 years ago.

No cash will be exchanged under the terms of the transfer agreement, Sunland said.

Enshaa subsidiary Emirates Investment Group Australia had inked a deal with Sunland to develop up to 13 Versace-branded properties around the globe.

Under the terms of the deal, Sunland will also transfer its 50 percent stake in the joint investment vehicle Emirates Sunland Group, but will retain its interest in three remaining Dubai projects.

Palazzo Versace Dubai, a AED2.3bn ($626m) hotel and residential project, is nearing completion at a site on the banks of Dubai Creek.

Emirates Sunland Group said in February that 80 percent of the resort’s 169 private apartments had been sold, and that construction was more than two-thirds complete.

“[The resort] has continued its construction during a very difficult economic time,” said managing director Soheil Abedian. The property is 81 percent complete, he said.

Market rumours earlier this year had suggested the property had struggled to secure project finance in the wake of the global downturn, which saw house prices in Dubai fall more than 60 percent from their peak.

With the onset of the global financial crisis, more than half of developments in the city were scrapped or halted as project finance dried up and developers ran out of cash.

The Versace-branded resort will include 169 private apartments and 217 hotel suites, decorated with furnishings from the Italian designer’s Home range.

Enshaa and Sunland Group were not immediately available to comment.

http://www.arabianbusiness.com/enshaa-takes-over-palazzo-versace-dubai-in-swap-deal-425769.html

R

So SkinnyGirl, you denied any thought of Sunland "running for the hills"? Having PV on local/regional hands can not be welcome news for investors.

Meanwhile, the guys from Sunland are back at the Gold Coast washing off the dust of a miserable Arabian Adventure......

With todays article in Arabian Business I believe one of Sunlands most adamant supporters should come clean and at least apologize to the many on this thread being concerned about the commitment from Sunland. Please see below, recent post from Skinny:


So...Sunland are heading for the hills?! Any evidence of that? Any evidence of anything to substantiate the scaremongering?

Some positive news:

The following Article appeared in the magazine "The Rich Traveller" dated 31 August 2011

Fashion designers continue to showcase their designs in hotel rooms with Signore Armani opening in Milano this fall, a London Bulgari Hotel scheduled for early 2012 and Dubai’s Palazzo Versace, which is expected to debut in early 2012

With 213 suites, 169 private residences, a spa, a Versace ready-to-wear and jewelry boutique, fine Italian dining and a private marina, a number of pools including a lagoon pool, ornamental pools, reflecting ponds, and, of course, private pools, the Palazzo Versace is designed as a mini Versailles, more than a hotel.

The hotel recently unveiled its first show residences and making debut was 4,732 sq ft of private living space designed in unabashedly flaunts lavish colors, glamour and design, centered on a grand reception room, while mosaics, marble floors, and exclusive Versace furniture fill up the residences.

Truly the hotel will carry forward the grandiosity and flamboyance of Gianni Versace through the halls of the Palazzo Versace. This will be one to watch out for!

Hi this is not so skinny girl. I think we all know who she is don't we.
I am looking for investors in further disgruntled PV Dubai investors who are interested in joining me in a Class Action against Sunland Group Limited in Australia. I have already started so join me . You can contact me on carol@aldersonandassociates.com:bash:

Hi this is not so skinny girl. I think we all know who she is don't we.
I am looking for investors in further disgruntled PV Dubai investors who are interested in joining me in a Class Action against Sunland Group Limited in Australia. I have already started so join me . You can contact me on carol@aldersonandassociates.com:bash:

Hey Carol, before you get over excited...here's some info:

1) Enshaa have now taken 100% control of the development of the PV and D1so you are planning to sue the wrong party. Either way, it's probably a waste of time and money, but as it's both your time and your money, you might want to give it some more thought?
2) Enshaa have a successful track record and their shareholders have loads of dough. In addition to which, they have swapped their holding in the Q1 (which generates revenue) for 100% of the PV and D1 which currently only generates costs! That shows their confidence and commitment.
3) Enshaa have also been granted licence to develop several other PV's around the World, so that shows they have the confidence of the House of Versace.
4) Expect Enshaa to issue a new timetable for Completion in the next few weeks. My guess would be end of 2012 but we'll have to wait and see.
5) Several other projects will soon be restarted in Culture Village. Some with new developers who see the potential of the area. All good news!

All for now boys and girls.
No doubt the usual collection on negative knuckleheads will all be adding their clouds to my silver lining...but sadly, that's life!

In the meantime, y'all have a good day.

Hey Carol, before you get over excited...here's some info:

1) Enshaa have now taken 100% control of the development of the PV and D1so you are planning to sue the wrong party. Either way, it's probably a waste of time and money, but as it's both your time and your money, you might want to give it some more thought?
2) Enshaa have a successful track record and their shareholders have loads of dough. In addition to which, they have swapped their holding in the Q1 (which generates revenue) for 100% of the PV and D1 which currently only generates costs! That shows their confidence and commitment.
3) Enshaa have also been granted licence to develop several other PV's around the World, so that shows they have the confidence of the House of Versace.
4) Expect Enshaa to issue a new timetable for Completion in the next few weeks. My guess would be end of 2012 but we'll have to wait and see.
5) Several other projects will soon be restarted in Culture Village. Some with new developers who see the potential of the area. All good news!

All for now boys and girls.
No doubt the usual collection on negative knuckleheads will all be adding their clouds to my silver lining...but sadly, that's life!

In the meantime, y'all have a good day.

I suppose it would be expected that the Parrot would have to respond to something that Sunland Group Limited is now finding difficult. One has to ask how she is in such a privvy position to have access to all this "positive" information. Oh, I forgot she works for Sunland.

By the way skinny one, try posting without all the underlying sarcasm the only knucklehead is you!!!! and if you hadn't noticed there isn't one post in support of the position you are taking which is to put your head in the sand and you know which part of your body is exposed when you do that!!!!!

I suppose Sunland Group Limited, who the parrot works for, think they have made a smart move by doing the cosy deal with Enshaa. Well Abidian has now made the biggest mistake he could have and the reason is this.
If you are an investor in PV Dubai then check your contract/reservation agreement to see who you contracted with. Your investment has been traded by Sunland Group Limited Australia and is now sitting in Palazzo Versace on the Gold Coast in Australia in a completed development. You have to follow the money!!!!

So Sunland Group Limited Australia having taken your money to Australia and investing it in a completed project I think all investors should be thanking Abidian for thinking of them first and not himself as he has done in the past. Just remember how Emirates Sunland have dealt with investors on the White Bay project in UAQ and questions should also be asked as to whose money paid for the plot on the Dubai Waterfront project.

So as your money is now in Australia it is possible to ask for it back or ask for a return on investment from Abidian and his shareholders.

Yes extremely unlikely to happen, so they have to be forced to do so and that means taking legal action against Sunland Group Ltd Australia in the Queensland courts. One noteworthy thing is that there had previously been a post about taking collective action in the courts in Dubai. Well that isn't possible here but a class action in Australia is and I am with Carol Alderson and so should all other investors who feel that they have been misled by Emirates Sunland and all the other BVI companies and their subsidiaries that they have been hiding behind.

On checking some of these companies it would appear that Emirates Sunland does not own the land that PV Dubai is built on but is owned by a subsidiary. This is illegal in Dubai and the Emirates and is part of the underlying deception that has been going on with this development.

There has been quite a bit in the Australian press regarding Sunland Group of late and I will post the articles serparately, quite embarassing stuff especially for the head of Sunland Groups middle east operations, Mr. David Brown.

And finally another one for Skinnygirl, please make up your mind when the completion date is as you have posted yet another one without any substantiation. Its boring love!!!!

Go to http://www.smh.com.au/business/judge-queries-sunland-witness-20111129-1o54q.html

and

http://www.smh.com.au/business/credibility-of-sunland-witness-under-fire-20111129-1o54q.html

Note the comment from the judge in this case and also that 3 times Sunland Group Ltd. made statements to the Australian stockmarket in February, March and July of 2009 in which they denied that Mr. Brown was being investigated by the Dubai authorities, something that Mr. Brown, under oath, was forced to acknowledge that he was being investigated. The judge was scathing of Mr. Brown's evidence, and this is the guy we are all supposed to believe is being truthful and transparent in his dealings on PV Dubai.

These are the lengths that the directors and CEO of Sunland Group Ltd. are prepared to stoop in an attempt to prevent the truth being told.

Remember the truth is out there and it will be revealed.

As more comes out of this case I will post it.

^^^^

Oh dear Axe, with all that emotion, irrelevance and irrationality it’s difficult to know where to start?
Well, here goes….firstly, Sunland/Emirates Sunland and all their subsidiaries are now out of the project to develop the PV and D1 so your continued references to them are totally irrelevant and surely, no one is seriously considering taking legal action against Sunland in Australia! Makes absolutely no sense whatsoever but as I said earlier, its Carol Whatshername’s time and money and therefore hers to waste as she sees fit. Bless her!

Moving onto the swap deal, the existing SAP contracts will be assigned to Enshaa, so there should be no change to the investor T’s & C’s and the Escrow account arrangements will also stay the same. Obviously, control of the account will now pass to Enshaa.

No idea what you were talking about with reference to the development money being transferred to Australia – there has been an Escrow account in existence right from the outset, so that view is nonsense.

With regard to which Sunland Company owns the land, that question is also now irrelevant as ownership will transfer to an Enshaa company as part of the swap deal or did you seriously think they would take over the project without owning the land?

On the same basis, your comments about Sunland’s Waterfront and White Bay projects are also completely irrelevant as is the “bribery” court case. Apart from the fact they are all different projects and have nothing to do with the PV or D1, Sunland are now OUT OF THE DEAL….geddit?

Moving on to something more constructive, it would now be sensible to wait for a communication from Enshaa as no doubt they will cover the DEWA issues as well as the Completion timetable. Both are investor “hot” topics which they will have under control as if they weren’t confident of delivering, they wouldn’t have done the swap. In the meantime, why not arrange a site visit to the PV? It’s very easy, you just phone them and fix a date and then not only could you check on your investment first hand but you could also ask your questions to the appropriate people (i.e. the developer)? I am of course assuming that you live in or near the UAE, although if you don’t it would explain some of your more wayward observations.

Just for the record, I am neither an employee of Sunland nor Enshaa, nor am I privy (please note, only one “V”) to any information. Also, I am not trying to be sarcastic – a tiny bit patronising maybe…but given your comments honey, who can blame me? Nevertheless, I would like to think my input and suggestions are taken as constructive, but I suspect in your case they will go in one ear and out the other (if they manage to avoid the knuckles in between!!) – Sorry about that cheap shot Axe honey…just couldn’t resist.

My estimate of a Completion date of 12 months from now wasn’t substantiated, that’s why I said it was a GUESS! What’s yours and when Enshaa issue theirs, we can see who is the closest?

I will now be “off the air” until Enshaa make an announcement. Enjoy your site visit – it may be a revelation!

^^^^

Oh dear Axe, with all that emotion, irrelevance and irrationality it’s difficult to know where to start?
Well, here goes….firstly, Sunland/Emirates Sunland and all their subsidiaries are now out of the project to develop the PV and D1 so your continued references to them are totally irrelevant and surely, no one is seriously considering taking legal action against Sunland in Australia! Makes absolutely no sense whatsoever but as I said earlier, its Carol Whatshername’s time and money and therefore hers to waste as she sees fit. Bless her!

Moving onto the swap deal, the existing SAP contracts will be assigned to Enshaa, so there should be no change to the investor T’s & C’s and the Escrow account arrangements will also stay the same. Obviously, control of the account will now pass to Enshaa.

No idea what you were talking about with reference to the development money being transferred to Australia – there has been an Escrow account in existence right from the outset, so that view is nonsense.

With regard to which Sunland Company owns the land, that question is also now irrelevant as ownership will transfer to an Enshaa company as part of the swap deal or did you seriously think they would take over the project without owning the land?

On the same basis, your comments about Sunland’s Waterfront and White Bay projects are also completely irrelevant as is the “bribery” court case. Apart from the fact they are all different projects and have nothing to do with the PV or D1, Sunland are now OUT OF THE DEAL….geddit?

Moving on to something more constructive, it would now be sensible to wait for a communication from Enshaa as no doubt they will cover the DEWA issues as well as the Completion timetable. Both are investor “hot” topics which they will have under control as if they weren’t confident of delivering, they wouldn’t have done the swap. In the meantime, why not arrange a site visit to the PV? It’s very easy, you just phone them and fix a date and then not only could you check on your investment first hand but you could also ask your questions to the appropriate people (i.e. the developer)? I am of course assuming that you live in or near the UAE, although if you don’t it would explain some of your more wayward observations.

Just for the record, I am neither an employee of Sunland nor Enshaa, nor am I privy (please note, only one “V”) to any information. Also, I am not trying to be sarcastic – a tiny bit patronising maybe…but given your comments honey, who can blame me? Nevertheless, I would like to think my input and suggestions are taken as constructive, but I suspect in your case they will go in one ear and out the other (if they manage to avoid the knuckles in between!!) – Sorry about that cheap shot Axe honey…just couldn’t resist.

My estimate of a Completion date of 12 months from now wasn’t substantiated, that’s why I said it was a GUESS! What’s yours and when Enshaa issue theirs, we can see who is the closest?

I will now be “off the air” until Enshaa make an announcement. Enjoy your site visit – it may be a revelation!

Nice try but I can assure you I am not Carol Alderson but in any case what a load of old drivel and thank god you're now off the air.

But as I promised more from the continuing saga in Melbourne and Sunland's chief of operations in Dubai Mr. David Brown. Here is the link.

http://www.smh.com.au/national/witness-admits-pair-held-on-false-claims-20111203-1occx.html

A little bird (not a screeching Parrot) has told me that our one and only Skinnygirl has sworn an affadavit in this case and will be giving evidence, hence being off the air. I think she's off her head but then who am I to speculate and judge.

The Australian Stock Exchange have now taken such an interest in the goings on in this case that they will be sending an observer to report on what comes out of the proceedings.

Expect the case to crash and be thrown out, as it deserves to be, but hopefully not before the Parrot has had to give evidence.

Will keep you posted on developments.

I also have an interesting article that was published in "The Australian" newspaper on 17th November 2011 by Florence Chong. It goes under the title of "Dubai Brawl sees Sunland heading to Court". This one does involve Carol Alderson when she attended the AGM of Sunland Group at Palazzo Versace on the Gold Coast. I am having trouble finding the link but will endeavour to post the full article when I can figure out how to attach a pdf file of the article. Any assistance greatly accepted as being dyslexic is a big disadvantage to me in "my old age", hence the two V's and you know what they mean in Churchillian English.

The AGM was supposed to go out on a live feed but Sunland obviously decided not to broadcast it as Mrs. Alderson had her say about what Sunland Group were up to in Dubai with her money. This one is going to roll believe me.

[QUOTE=axe2grind;86314479]Nice try but I can assure you I am not Carol Alderson but in any case what a load of old drivel and thank god you're now off the air.

But as I promised more from the continuing saga in Melbourne and Sunland's chief of operations in Dubai Mr. David Brown. Here is the link.

http://www.smh.com.au/national/witness-admits-pair-held-on-false-claims-20111203-1occx.html

A little bird (not a screeching Parrot) has told me that our one and only Skinnygirl has sworn an affadavit in this case and will be giving evidence, hence being off the air. I think she's off her head but then who am I to speculate and judge.

The Australian Stock Exchange have now taken such an interest in the goings on in this case that they will be sending an observer to report on what comes out of the proceedings.

Expect the case to crash and be thrown out, as it deserves to be, but hopefully not before the Parrot has had to give evidence.

Will keep you posted on developments.

I also have an interesting article that was published in "The Australian" newspaper on 17th November 2011 by Florence Chong. It goes under the title of "Dubai Brawl sees Sunland heading to Court". This one does involve Carol Alderson when she attended the AGM of Sunland Group at Palazzo Versace on the Gold Coast. I am having trouble finding the link but will endeavour to post the full article when I can figure out how to attach a pdf file of the article. Any assistance greatly accepted as being dyslexic is a big disadvantage to me in "my old age", hence the two V's and you know what they mean in Churchillian English.

The AGM was supposed to go out on a live feed but Sunland obviously decided not to broadcast it as Mrs. Alderson had her say about what Sunland Group were up to in Dubai with her money. This one is going to roll believe me.



[B][[/QDavid Brown, International Design Director for ESG, says the decision to permanently relocate the Palazzo Versace design team to Dubai was based on their expertise, reputation and attention to detail.

'Sunland Group has over 20 years of construction history in Australia and we have built up a strong reputation for excellence. We have bought the expertise behind that history to Dubai to ensure that same standards of excellence are maintained throughout all our international projects,' he says.


Well, well, well. It is now difficult to believe a word he has to say, isn't it?

I have genuinely been sitting back over the past few months and have been heartened to see that I am not the only 'disgruntled investor' in PV Dubai. Although I am not Axe to Grind, I certainly do have one.

I am truly cheese'd off. Someone, in the pay of Sunland taped a conversation I had on DubaiEye on 9.3.2010 and then made a Police complaint about me. Having now been under House Arrest for the past 18 months, I am sure you can all imagine, how I feel.

With all of the above in mind, when I discovered that Sunland were 'heading for the hills', despite a letter from their Lawyers last year completely denying this, I travelled to Australia to attend their AGM. It was interesting that most of the shareholders present were either my age or older, most probably retired. Mr. Nasty, Abedian actually gave me a microphone to ask my question. To say that he was surprised to see me is an understatement. Whilst I calmly displayed a report from a reputable Architect in Dubai stating clearly only 40% complete whereas Sunland's last announcement said 88%, and in fact when they were trying to terminate my ownership in January, 2010 with false documents submitted to the Land Department, they said 62%, he was becoming more and more agitated. He called me a liar in front of his shareholders, shouted at me to get out, told me that I was not a good lawyer as I would not have signed a contract if I could not fulfil my obligations. The irony of this is that, of course, they have never given me a valid Contract, despite my numerous demands both verbally and in writing to their good lawyer in the plush offices (no longer existing). In fact, my reservation agreement says that I should receive it within one month of making my first payment i.e. November, 2007.

I have also received papers from my case which shows that none of my AED 4 million was paid into Escrow so where is it? I asked that at the AGM but was again called a Liar by Mr. Nasty.

I was finally man handled, the microphone forcibly taken from me by two security guards, hailed by Mr. Nasty, and forcibly escorted off the premises.

Yes four years have now elapsed. I bought because it was not an off plan purchase but the construction had already started. I also thought I was buying from a reputable Australian Company. How very wrong I was.

I am now AED 4 million down but not out, yet.

My earlier post is genuine. Skinny Girl is obviously not a lawyer/ good lawyer and I seem to recall saying that four years ago when I questioned who owned the land and demanded to know who I was to contract with on this purchase. I was told, Sunland are a Publicly listed Company in Australia and they HAD TO BE TRANSPARENT. That was said to me by the good lawyer in those swanky offices!

It seems to me that she is as economic with the truth as Mr. Brown is clearly.

Thankyou Axe to grind for finally allowing me to get this all of my chest.
I have actually been too afraid to say anything beforehand, for fear of further persecution by Sunland. This is obviously their favourite tactic, given that I am not alone in being placed under House Arrest in Dubai for having dealings with them.

I now have to face another Court action in Australia. I do genuinely wish to know if there are other PV Dubai Investors who wish to join me in a Class action against Sunland. My proceedings were commenced on 14th November, 2011, served on Sunland at their Head Office in Queensland the following day, and a copy left in the foyer of the PV Gold Coast because the Hotel Manager would not accept them. I told him that it could be done either the hard way or the easy way. Easy would be to accept them, hard would be for me to leave them on the table in the foyer and then let their guests read them. This I did and left.

Now they have applied to have my claim struck out for an abuse of the Court process and to seek an Order for security for costs in the sum of $100,000. I have to say that, in all my years of litigation both in the UAE and UK, this is always the tactic of the big boys throwing money at litigation in an attempt to frighten little people like me away.

I can only say that I am not going anywhere. I have documents that prove Sunland have been deceiptful, misleading and downright illegal. They did not own the land to PV Dubai, never had and neither did Enshaa. They sold an apartment to me directly from an Offshore Company which is illegal in Dubai, despite me telling the good lawyer this 4 years ago. It was also sold to me with no apparent contractual connection between the offshore company and the owners of the land. I requested disclosure before making any further payments but only received threats to terminate if I did not make the quarterly instalments.

Article 247 of the Civil Code of the UAE clearly allows one party to an agreement to cease his obligations if the other party have defaulted on their obligations. Interestingly enough a Force majeure letter was sent out to the investors two weeks prior to their final completion date in their draft SPA. Clearly, their good lawyer has not been to Law School recently as a Genuine Force majeure event clearly ceases all obligations on all sides. Sunland, however, have failed in their obligations since 2009 but yet continued to threaten me (and presumably others) into making further payments for fear of forfeiture.

We were all deceived and gullible. Let it not continue any longer.

Again contact me on carol@aldersonandassociates.com


I have other information and documents that prove my case against them. If any of you have had doubts as to their veracity you really need to contact me.

Let us see how the mighty fall. they cannot intimidate us in Australia as they have tried in Dubai.

Check out Sunland's website and their 2011 Accounts. They had the money so follow it.

[QUOTE=axe2grind;86314479]Nice try but I can assure you I am not Carol Alderson but in any case what a load of old drivel and thank god you're now off the air.

But as I promised more from the continuing saga in Melbourne and Sunland's chief of operations in Dubai Mr. David Brown. Here is the link.

http://www.smh.com.au/national/witness-admits-pair-held-on-false-claims-20111203-1occx.html

A little bird (not a screeching Parrot) has told me that our one and only Skinnygirl has sworn an affadavit in this case and will be giving evidence, hence being off the air. I think she's off her head but then who am I to speculate and judge.

The Australian Stock Exchange have now taken such an interest in the goings on in this case that they will be sending an observer to report on what comes out of the proceedings.

Expect the case to crash and be thrown out, as it deserves to be, but hopefully not before the Parrot has had to give evidence.

Will keep you posted on developments.

I also have an interesting article that was published in "The Australian" newspaper on 17th November 2011 by Florence Chong. It goes under the title of "Dubai Brawl sees Sunland heading to Court". This one does involve Carol Alderson when she attended the AGM of Sunland Group at Palazzo Versace on the Gold Coast. I am having trouble finding the link but will endeavour to post the full article when I can figure out how to attach a pdf file of the article. Any assistance greatly accepted as being dyslexic is a big disadvantage to me in "my old age", hence the two V's and you know what they mean in Churchillian English.

The AGM was supposed to go out on a live feed but Sunland obviously decided not to broadcast it as Mrs. Alderson had her say about what Sunland Group were up to in Dubai with her money. This one is going to roll believe me.



[B][[/QDavid Brown, International Design Director for ESG, says the decision to permanently relocate the Palazzo Versace design team to Dubai was based on their expertise, reputation and attention to detail.

'Sunland Group has over 20 years of construction history in Australia and we have built up a strong reputation for excellence. We have bought the expertise behind that history to Dubai to ensure that same standards of excellence are maintained throughout all our international projects,' he says.


Well, well, well. It is now difficult to believe a word he has to say, isn't it?

I have genuinely been sitting back over the past few months and have been heartened to see that I am not the only 'disgruntled investor' in PV Dubai. Although I am not Axe to Grind, I certainly do have one.

I am truly cheese'd off. Someone, in the pay of Sunland taped a conversation I had on DubaiEye on 9.3.2010 and then made a Police complaint about me. Having now been under House Arrest for the past 18 months, I am sure you can all imagine, how I feel.

With all of the above in mind, when I discovered that Sunland were 'heading for the hills', despite a letter from their Lawyers last year completely denying this, I travelled to Australia to attend their AGM. It was interesting that most of the shareholders present were either my age or older, most probably retired. Mr. Nasty, Abedian actually gave me a microphone to ask my question. To say that he was surprised to see me is an understatement. Whilst I calmly displayed a report from a reputable Architect in Dubai stating clearly only 40% complete whereas Sunland's last announcement said 88%, and in fact when they were trying to terminate my ownership in January, 2010 with false documents submitted to the Land Department, they said 62%, he was becoming more and more agitated. He called me a liar in front of his shareholders, shouted at me to get out, told me that I was not a good lawyer as I would not have signed a contract if I could not fulfil my obligations. The irony of this is that, of course, they have never given me a valid Contract, despite my numerous demands both verbally and in writing to their good lawyer in the plush offices (no longer existing). In fact, my reservation agreement says that I should receive it within one month of making my first payment i.e. November, 2007.

I have also received papers from my case which shows that none of my AED 4 million was paid into Escrow so where is it? I asked that at the AGM but was again called a Liar by Mr. Nasty.

I was finally man handled, the microphone forcibly taken from me by two security guards, hailed by Mr. Nasty, and forcibly escorted off the premises.

Yes four years have now elapsed. I bought because it was not an off plan purchase but the construction had already started. I also thought I was buying from a reputable Australian Company. How very wrong I was.

I am now AED 4 million down but not out, yet.

My earlier post is genuine. Skinny Girl is obviously not a lawyer/ good lawyer and I seem to recall saying that four years ago when I questioned who owned the land and demanded to know who I was to contract with on this purchase. I was told, Sunland are a Publicly listed Company in Australia and they HAD TO BE TRANSPARENT. That was said to me by the good lawyer in those swanky offices!

It seems to me that she is as economic with the truth as Mr. Brown is clearly.

Thankyou Axe to grind for finally allowing me to get this all of my chest.
I have actually been too afraid to say anything beforehand, for fear of further persecution by Sunland. This is obviously their favourite tactic, given that I am not alone in being placed under House Arrest in Dubai for having dealings with them.

I now have to face another Court action in Australia. I do genuinely wish to know if there are other PV Dubai Investors who wish to join me in a Class action against Sunland. My proceedings were commenced on 14th November, 2011, served on Sunland at their Head Office in Queensland the following day, and a copy left in the foyer of the PV Gold Coast because the Hotel Manager would not accept them. I told him that it could be done either the hard way or the easy way. Easy would be to accept them, hard would be for me to leave them on the table in the foyer and then let their guests read them. This I did and left.

Now they have applied to have my claim struck out for an abuse of the Court process and to seek an Order for security for costs in the sum of $100,000. I have to say that, in all my years of litigation both in the UAE and UK, this is always the tactic of the big boys throwing money at litigation in an attempt to frighten little people like me away.

I can only say that I am not going anywhere. I have documents that prove Sunland have been deceiptful, misleading and downright illegal. They did not own the land to PV Dubai, never had and neither did Enshaa. They sold an apartment to me directly from an Offshore Company which is illegal in Dubai, despite me telling the good lawyer this 4 years ago. It was also sold to me with no apparent contractual connection between the offshore company and the owners of the land. I requested disclosure before making any further payments but only received threats to terminate if I did not make the quarterly instalments.

Article 247 of the Civil Code of the UAE clearly allows one party to an agreement to cease his obligations if the other party have defaulted on their obligations. Interestingly enough a Force majeure letter was sent out to the investors two weeks prior to their final completion date in their draft SPA. Clearly, their good lawyer has not been to Law School recently as a Genuine Force majeure event clearly ceases all obligations on all sides. Sunland, however, have failed in their obligations since 2009 but yet continued to threaten me (and presumably others) into making further payments for fear of forfeiture.

We were all deceived and gullible. Let it not continue any longer.

Again contact me on carol@aldersonandassociates.com


I have other information and documents that prove my case against them. If any of you have had doubts as to their veracity you really need to contact me.

Let us see how the mighty fall. they cannot intimidate us in Australia as they have tried in Dubai.

Check out Sunland's website and their 2011 Accounts. They had the money so follow it.

WOW - I have to admit that I am very confused about this whole situation, probably like all D1 and PV investors.

I agree that the legal route may be the only way to go in the end - however (and please clarify if I am wrong - ) I am even more confused how 2 'legal people' (you and axe) have also been so easily duped into investing into the development!

I am further confused that the same people are now offering to support other investors and asking them to join in taking legal action...surely previous history raises questions on their ability to carry out the task! Is it just me or am I reading this totally wrong??

I raise these queries genuinly as an investor with no hidden agenda, could you please answer them in the same manner?

Anyone else want to come out of the woodwork and add their 2 pennies worth? I really feel that now is the time!!

I refer to Dubaidreamz post and please forgive me but I am extremely dubious about anyone claiming to be an investor.

This is not about being duped its whether both parties to a contract enter with equal status. In the vast majority of contracts for property purchase in Dubai they are so one sided as to be laughable. This is the case with PV Dubai.

I purchased in 2007 and have a Reservation Agreement with stage payments the last being in September 2009 the date ES where saying the project would be completed. I didn't purchase off plan I purchased after the project had started.

I had continuously requested a copy of the SPA but was given numerous excuses why it couldn't be produced. My feeling is that ES had not fully signed up for this project themselves and were waiting for their purchase contract so they could cut and paste parts of it into the SPA. There have been some glaring ones made by Skinnygirl in this contract, its actually quite amateurish.

I have also discovered that ES do not own the land PV Dubai is built on it belongs to a subsidiary. This is illegal in Dubai. There are so many subsidiaries involved that it becomes quite difficult to track. The only thing I can say is is that Soheil Abidian is the only common denominator in all these subsidiaries.

When the contract did finally arrive it had so many ridiculous clauses including a 6 month completion period with an extension of 12 months that I felt it was an unreasonable contract to sign. ES would not remove or alter the clauses in question.

ES have also misled investors about the status of completion, they claim 88% when it less than 50% (made by an independant expert), they have misled investors about the completion date and issued a force majeure notice days before the very extended date of June 2011 when they knew that the events they rely on happened in late 2008 and finally they do the biggest get out by doing a cosy switch of assets between themselves and Enshaa. Their utter contempt for investors is palpable!!! particularly Soheil Abidian.

To answer your question, yes you are misreading the situation and if you stand still and do nothing you will lose your money.

So many people have waited too long to enforce their rights under these so called contracts that when they finally wake up its too late and they've been cheated or left with an asset that is greatly reduced.

Just did a bit of checking with the Escrow account holders regarding my payments on Palazzo Versace and have found that not one of my payments have gone into the Escrow Account in contravention of the Escrow Law.

Wonder how many others have been treated the same way and where has the money actually gone? Somehow I think has ended up being used to buy the piece of very controversial land on the Palm Jebel Ali!!!

Just did a bit of checking with the Escrow account holders regarding my payments on Palazzo Versace and have found that not one of my payments have gone into the Escrow Account in contravention of the Escrow Law.

Wonder how many others have been treated the same way and where has the money actually gone? Somehow I think has ended up being used to buy the piece of very controversial land on the Palm Jebel Ali!!!

Good luck with this --looks like SUNLAND picked on the wrong people here
--my Mum almost bought here too at least she had lucky escape
GOOD LUCK but I think THEY will need it with you as adversaries !

Good luck with this --looks like SUNLAND picked on the wrong people here
--my Mum almost bought here too at least she had lucky escape
GOOD LUCK but I think THEY will need it with you as adversaries !

Sunland shares dropped 5% today and please check this link from Reuters:

http://www.reuters.com/article/2011/12/19/digest-australia-business-idUSL3E7NJ4XA20111219?feedType=RSS&feedName=marketsNews&rpc=43

Scroll to the very end for some juicy Sunland news:

"A Dubai court is expected to ask for explanations into discrepancies arising from statements made to prosecutors by developer Sunland Group's chief of operations for the Middle East, David Brown, which conflicted with sworn evidence given to the Victorian Supreme Court. The case involves charges of criminal bribery relating to a property deal by Australians Matthew Joyce and Marcus Lee in 2007. Page B4."


Seems like Sunlands Dubai Team is under fire from several directions, however the pattern is the same isnt it?

Just did a bit of checking with the Escrow account holders regarding my payments on Palazzo Versace and have found that not one of my payments have gone into the Escrow Account in contravention of the Escrow Law.

Wonder how many others have been treated the same way and where has the money actually gone? Somehow I think has ended up being used to buy the piece of very controversial land on the Palm Jebel Ali!!!

Hello! Can you please do me a favour and let me know the procedure to be followed to determine whether the monies we have paid have gone into Escrow account. Several of us have invested in another project in Dubai with Dheeraj & East Coast who have received more than 50% of the purchase price and yet are unable to proceed beyond digging a hole in the ground saying they are arranging financing. What bothers us is where is all that money we have paid to them gone. Incidentally, they also have building projects in Australia (Melbourne) and we have a horrible suspicion that they have been shifting monies between U A E, India and Australia robbing off innocent investors like you and me. Do you think the respective governments should be alerted with regard to the activities of these people.

You can find out by writing to the Bank that is managing the Escrow Account. You will need to provide proof of purchase by enclosing a copy of your SPA and passport.

Escrow account should be mentioned in your SPA or failing that you can log on to the RERA website and find it under the name of your project.

If you have paid your money into the account directly then the bank will give you a statement of how much has been paid in and what the balance is still remaining.
If you made the payments directly to the Seller then my experience is that it doesn't get paid into the Escorw account!!

If you need any further help send me a PM.

What about this project? Is it still on hold? :ohno:

I love London :bowtie:

19/February/2012

Palazzo Versace

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc7/402160_10151305931625648_741515647_23111086_80128065_n.jpg

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/395259_10151305933200648_741515647_23111090_481144571_n.jpg

Imre,
I can't really see the point of posting photographs like this and stating its a "construction update". All it shows is that the Cultural Village site is a complete mess and a disgrace to Dubai's landscape. It also shows that there is still a lot of work to do with the external facade of Palazzo Versace and that the big advertising sign is hiding the fact that nothing is going on behind it on the hotel, not to mention that you have shown no shots of the inside state of completion.

Its almost as bad as saying "watch this space"!!! More like watching paint dry, the only difference being that paint eventually does dry.

My information is is that the current ownership are trying to sell the complete development.

Has any Investor received any communication telling them that Enshaa have now bought out (sorry swopped) Sunland's interest for their interest in the PV Gold Coast and that they have a plan to complete this long overdue project? Don't forget that May 2012 was supposed to be the big date for completion and handover.

So much for TRANSPARENCY.

Imre,

Thank you very much, ignore the loser. for some reason he/she thinks you work for RERA or Sunland..or something....

Your contribution is much appreciated.

Imre,

Thank you very much, ignore the loser. for some reason he/she thinks you work for RERA or Sunland..or something....

Your contribution is much appreciated.

Totally agree 👍

Imre,
I can't really see the point of posting photographs like this and stating its a "construction update". All it shows is that the Cultural Village site is a complete mess and a disgrace to Dubai's landscape. It also shows that there is still a lot of work to do with the external facade of Palazzo Versace and that the big advertising sign is hiding the fact that nothing is going on behind it on the hotel, not to mention that you have shown no shots of the inside state of completion.

Its almost as bad as saying "watch this space"!!! More like watching paint dry, the only difference being that paint eventually does dry.

My information is is that the current ownership are trying to sell the complete development.

Has any Investor received any communication telling them that Enshaa have now bought out (sorry swopped) Sunland's interest for their interest in the PV Gold Coast and that they have a plan to complete this long overdue project? Don't forget that May 2012 was supposed to be the big date for completion and handover.

So much for TRANSPARENCY.

:nuts:

Info re the swap with Sunland is on Enshaa'a website!

Imre,
I can't really see the point of posting photographs like this and stating its a "construction update". All it shows is that the Cultural Village site is a complete mess and a disgrace to Dubai's landscape. It also shows that there is still a lot of work to do with the external facade of Palazzo Versace and that the big advertising sign is hiding the fact that nothing is going on behind it on the hotel, not to mention that you have shown no shots of the inside state of completion.



Of course still mess there thats why we can call construction update , I dont know whats wrong with this , I can post pics from outside as I dont have an access to take pics inside.

^^ And it's starting to look a lot closer to completion at long last :cheers:

Of course still mess there thats why we can call construction update , I dont know whats wrong with this , I can post pics from outside as I dont have an access to take pics inside.

Imre,

Perhaps you could get yourself invited by Sunland, sorry Enshaa, to take photographs of the inside of PV. It would be interesting to see what is behind the facade especially as progress by the "Independent" progress monitor from RERA is saying 90% complete!!!! LOL

Realpoint's assessment is based on time not physical work completed. Actual progress is more like 40-50% on the hotel apartments, its less on the hotel.

Realpoint also report the Main Contract completion date as 01/03/2010 and Anticipated Completion Date as 31/05/2012 and this will pass like all other dates that have been stated by PV without being achieved. If you check the first post on this development you will see that completion was going to be 2008!!!

As an investor it is very difficult to accept that my money, and its millions not hundreds of 1000s, is tied up in a project that nobody can accurately state when its going to be complete. Currently its under a Force Majeure notice so nothing should be happening and the project suspended even though no FM event has happened in Dubai.

There's more smoke and mirrors with this project than in a magician's conjuring act.

Anyway look forward to your progress photographs of the interior. Inshallah.

Imre,

Perhaps you could get yourself invited by Sunland, sorry Enshaa, to take photographs of the inside of PV. It would be interesting to see what is behind the facade especially as progress by the "Independent" progress monitor from RERA is saying 90% complete!!!! LOL



One of the owner already tried with Enshaa without any success which means they dont want to show the reality :)

One of the owner already tried with Enshaa without any success which means they dont want to show the reality :)

Imre, excellent effort. Please please can you also show us as to what is happening at the nearby projects by Dheeraj & East Coast namely Cascade Ville and Cascade Manor.

Hi Imre,
...and for me the " Babil or also Rumelia project" = the souk. I have no news from Dubai Properties since 06/2009 !!
Thanks a lot

Imre, excellent effort. Please please can you also show us as to what is happening at the nearby projects by Dheeraj & East Coast namely Cascade Ville and Cascade Manor.

Imre, re the above - it would be really useful if you could take some photos of all the other projects in Culture Village so that we can see "the mess" - good or bad - for ourselves.
I realise that this request is an imposition on your time and good nature but would really appreciate it if you are able to do it!

I have often thought of doing these photos as a project of sorts to document a snapshot of Dubai.

ie. Photograph of the dusty signboard out the front, all the names of non-existant developers, consultants, financiers, and contrast with the beautiful renderings under 12 layers of dust. The idle cranes and locked gates.

Give me a Wikimapia coordinates of your project and I will see if I can take a few snapshots.

btw, Imre is a legend of Dubai photography he deserves respect not a sharp tongue :)

25/February/2012

Palazzo Versace

http://i44.tinypic.com/1906z8.jpg

http://i42.tinypic.com/2wd5ax4.jpg

http://i39.tinypic.com/8ygy90.jpg

http://i39.tinypic.com/9tcto4.jpg

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

http://i41.tinypic.com/14vh1xw.jpg

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

http://i41.tinypic.com/xf8g42.jpg

http://i44.tinypic.com/288qk3m.jpg

http://i44.tinypic.com/110vyaf.jpg

http://i40.tinypic.com/vs0riu.jpg

http://i39.tinypic.com/s591c9.jpg

Imre, re the above - it would be really useful if you could take some photos of all the other projects in Culture Village so that we can see "the mess" - good or bad - for ourselves.
I realise that this request is an imposition on your time and good nature but would really appreciate it if you are able to do it!

What a mess !

Culture Village photos, Dubai,UAE

25/February/2012

http://i44.tinypic.com/24et3zo.jpg

68 new pics here:

http://www.flickr.com/photos/imresolt/sets/72157629086463218/

Drove passed the site and there are a lot of workers there now and plenty of activity so we should expect to see some rapid progress in the coming weeks

Developers of Dubai’s AED2.3bn (US$626m) Palazzo Versace have promised to deliver the project by the end of next year, despite construction having slowed considerably.

Enshaa Services Group refused to comment on whether the project was being affected by liquidity woes, but said it was being partly hindered by a lack of water and electricity on site.

The Dubai Creek development has so far missed its original completion date by four years, and is still not being constructed at full speed.

Sources close to the project, which asked not to be named, told Arabian Business it needs to find $60m to complete by the given target.

“Technically it has never stopped construction, so if you pass by you will always see something. But it is like many projects in Dubai, just ticking along at a very, very slow rate.

“In order to complete by next year the developer needs to find US$60m. If they can find the money this is achievable. Otherwise it is more likely to be 2014.”

When asked for comment by Arabian Business, a spokesman from Enshaa said construction had been purposely slowed in order to keep pace with the surrounding infrastructure developments, but would open next year.

He added that developers did not want to run the development on generators because of the high cost.

“Since assuming control of the development... Enshaa has been targeting the soft opening of the hotel in summer 2013 and with the grand opening in the last quarter of 2013,” he said.

“The development cannot be completed without the services infrastructure... and [Enshaa] is currently exploring alternatives to obtaining services including the running of chilled water pipes from a district cooling plant across the creek, and running cables to an alternate power distribution station other than the one which will eventually serve our development.

“The delivery dates of the development are per the provisions in the sales and purchase agreement.”

However, the spokesman declined to comment on suggestions that the project was being stalled due to funding issues.

Palazzo Versace Dubai was launched in 2006 by Emirates Sunland Group, a 50:50 joint venture between Enshaa’s subsidiary firm Emirates International Holdings (EIH) and Australian developer The Sunland Group.

The design included two Versace-branded residential buildings comprised of 169 units, and a Versace-designed hotel with 217 suites.

The project was located in the master development Dubai Culture Village, being overseen by Dubai Properties Group.

UAE-based Enshaa at the time had a 50 percent stake in Palazzo Versace Gold Coast in Australia, a Sunland-developed property which had been open for around a decade.

In October 2011, Enshaa Services Group, another subsidiary of Enshaa, took control of the project as part of a swap deal.

Under the agreement, Enshaa agreed to relinquish its stake in the Australian property in exchange for full ownership of the Palazzo Versace in Dubai.

Sources say the project has encountered a series of delays since its launch due to different issues, including problems with a nearby dhow ship yard and a complete project redesign.

In the wake of the recession, they said developers also tried to bring in a second construction firm Kele Contracting to replace the original main contractor Arabtec, but have since reinstated Arabtec as the project manager.

Kele was allowed to retain the main construction contract for the nearby D1 tower, which is part of the same development.

When contacted by Arabian Business, Kele declined to comment.



http://www.arabianbusiness.com/dubai-s-versace-needs-60m-funding-sources-451698.html

http://www.arabianbusiness.com/dubai-s-versace-needs-60m-funding-sources-451698.html Looks like Versace Dubai isnt going to be completed anytime soon. Who would have guessed that outcome !!!!!, Great work Sunland Group, sorry, thats right, you got out of that mess didnt you. But not without a little "unexpected" stamp duty. I'll bet your investors are really happy!

Drove passed the site and there are a lot of workers there now and plenty of activity so we should expect to see some rapid progress in the coming weeks

So Skinny, you argued that I was daft to suggest 2014 as the completion date for D1 and Versace. Now it appears that the developer is guessing Q4/2013 and combined with the apparent funding shortage described in Arabian Business today, we all know that 2015 is now more likely.

Skinny, please enjoy your slice of humble pie :-)

So Skinny, you argued that I was daft to suggest 2014 as the completion date for D1 and Versace. Now it appears that the developer is guessing Q4/2013 and combined with the apparent funding shortage described in Arabian Business today, we all know that 2015 is now more likely.

Skinny, please enjoy your slice of humble pie :-)

When I first saw your prediction Bister I thought you were being wildly optomistic, LOL!!!

The recent article by Arabian Business says it all about what everyone has known was happening with this development in that Emirates Sunland have been lying to investors regarding the delays and the causes of same. What an own goal by Enshaa!!! The only thing that hasn't been admitted is the fact that they have cynically been doing minimum work to give the impression to RERA that they are going to finish "someday" to keep getting money out of investors. Its 4 years late according to this article!!!! and I agree.

Suggestions of running cables and pipes under the Creek are fanciful at best and can only be achieved with further funds if viable.

I have visited the site several times following the announcement of "loads of workers" descending on the site and found none the first time and last thursday only 10 to 15 scratching around. No work at all is happening on the hotel as is the case with work on the finishings, even the wildly inaccurate rate of completion given by RealPoint as 88% states that only 1% of the interior is complete. Something extremely wrong with their assessments. They didn't even know a Force Majeure notice had been issueded by ES, they are about as independent as a kangaroo court, (excuse the pun).

The Truth is that until and unless ES come up with a viable plan, and stick to it, it will always be conjecture as to when completion will be achieved.
Until then it is effectively stopped and has been since end of 2008.

So Skinny, you argued that I was daft to suggest 2014 as the completion date for D1 and Versace. Now it appears that the developer is guessing Q4/2013 and combined with the apparent funding shortage described in Arabian Business today, we all know that 2015 is now more likely.

Skinny, please enjoy your slice of humble pie :-)

It is rather amazing to follow Skinny Girls bi-polar behavior on this thread. It is either rampaging propaganda or deafening silence. However, this time we must assume that Skinny had to go see the Good Doctor to cure acute indigestion following abnormal intake of Humble Pie.

I wish her well, then again a perverted side of me do look forward to seeing her again riding in on her donkey to save the day and come to the rescue of RERA, ACI, Sunland, Enshaa and the many others that alongside Skinny have done wonders to give Dubai Real Estate a bad name.

Meanwhile Skinny can read up on another analysis on Her Pimped Out Palazzo:

http://www.dubaichronicle.com/2012/03/29/palazzo-versace-dubai-delayed/