#COMPLETED: JUMEIRAH BAY, 41+46+41F, Com, Plot X1, X2, X3 (JLT) [Archive] - Page 4

Gang2098

May 29th, 2010, 02:08 PM

My unit is mortgaged - bought in 2008 and I am suffering majorly with the bank interest. When I bought this unit in May 2008 - that time GEP still made the contract saying delivery would be in June 2008 !!
Is anyone in a similar situation ? If yes, what is the course of action you are taking ? Does anyone know if we will be paid any penalty for a two year delay ? Thanks.

I bought my unit 7 months before you, and also mortgaged.
I don't understand...what bank interest have you been paying upto now?

My contract also mentioned the Anticipated Completion Date: 01/JUNE/2008, but was immediately told to expect 6months delay for handover on 01/DEC/2008.

They have the right for an Extended Anticipated Completion Date(Clause 5.1) of 6months, and a Second Extended Anticipated Completion Date (Clause 5.2) of a further 6months, (as stated below), which means from 01/June/2009 til "September 2010" they are expected to pay us monthly the DIBOR rate of interest.

http://i44.tinypic.com/23jr3iq.jpg

smurf27

May 30th, 2010, 06:52 PM

All,

Yesterday I received a scanned copy of the letter stating a handover date (anticpated) from GEP for the X1 project.

This is the first time, I have received any formal communication from them
However the details are limited.

All that is worthy of saying is that the expected handover date for X1 is

SEPTEMBER 2010.

My unit is mortgaged - bought in 2008 and I am suffering majorly with the bank interest. When I bought this unit in May 2008 - that time GEP still made the contract saying delivery would be in June 2008 !!
Is anyone in a similar situation ? If yes, what is the course of action you are taking ?

Does anyone know if we will be paid any penalty for a two year delay ?

Thanks.
If possible can you upload a copy of the letter onto the site. I have still recieved nothing from them yet. Would be good to see format and content

smurf27

May 31st, 2010, 07:54 AM

Have you recieved a copy of the hand over letter yet, as I still have no information from the Developer. If anyone has recieved a letter can you please upload to the site.

Would be interested in content, and what is mentioned about penality payments. This project is now 2 years behind schedule. :bash:

musfeq@gerab.ae

May 31st, 2010, 01:11 PM

sk82

May 31st, 2010, 01:58 PM

Hi..

Regarding the interest. I have not paid it now, but will have to do so on handover. I think everyone who has a mortgage will land up being the same situation.

But it will work this way. The bank disburssed an amount when you bought the property and they would have given you an indicative installment based on delivery being June 2008.

Now every month of delay after that - they will calculate interest (for me it is approx 7.5% per annum) on the amount they have dispersed.

That will land up being approx 150K for 2 years of delay !

I bought my unit 7 months before you, and also mortgaged.
I don't understand...what bank interest have you been paying upto now?

My contract also mentioned the Anticipated Completion Date: 01/JUNE/2008, but was immediately told to expect 6months delay for handover on 01/DEC/2008.

They have the right for an Extended Anticipated Completion Date(Clause 5.1) of 6months, and a Second Extended Anticipated Completion Date (Clause 5.2) of a further 6months, (as stated below), which means from 01/June/2009 til "September 2010" they are expected to pay us monthly the DIBOR rate of interest.

http://i44.tinypic.com/23jr3iq.jpg

smurf27

June 1st, 2010, 07:18 AM

hi all

i got the handover letter today and it is saying september is the target month. I scanned the letter but not able to upload in this forum , if any one knows how to upload please let me know.

thanks

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Gang2098

June 1st, 2010, 10:02 AM

http://i49.tinypic.com/2rh4l95.jpg

iownyou

June 1st, 2010, 04:45 PM

i finaly sold that dump 490 dhs per sqft very disapointed loby was ugly a desert dream that will never be

Fsafarini

June 1st, 2010, 06:31 PM

Received the letter today, looks that our pain about to finish. The Sept looks realistic as far as I can see. The compensation is what we have to wait to see, I advise all not to get the keys before solve this problem, otherwise forget it, after you pay you will not have any rights

I think Eibor for 1.5 years is ok for us (almost 3.5% of 70% of the units price)

People with morgage will have to pay the interest in full (eibor + 3%)

We are lost so hard, we are just counting how much

iownyou

June 7th, 2010, 05:28 AM

Gang2098

June 28th, 2010, 08:24 AM

Thanks Imre :)

26/June/2010

JLT, no idea about the lake colour but looks very bad..and disgusting .

http://i49.tinypic.com/xmibg1.jpg

Imre

July 9th, 2010, 02:47 PM

09/July/2010

JLT X plot and lake

http://img638.imageshack.us/img638/752/dubai53.jpg (http://img638.imageshack.us/i/dubai53.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

http://img688.imageshack.us/img688/916/dubai69.jpg (http://img688.imageshack.us/i/dubai69.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

Gang2098

July 16th, 2010, 12:17 PM

Thanks Playmaker. Great Photo!

| JLT | 12/July/2010

http://img824.imageshack.us/img824/4447/36424538.jpg

Playmaker

July 23rd, 2010, 04:48 PM

Gang2098, thank you!

18 July, 2010

Jumeirah Bay

http://img834.imageshack.us/img834/8176/37526051.jpg

osntdxb

August 5th, 2010, 04:25 PM

The few signs of GEP becoming at least a little bit professional towards the supposed end were short lived, this wannabe developer is back in silence mode. Anyway, due to the last status update being more than 6 weeks old I decided to go to X1 today. I met with the project manager and he told me that the final EHS certificate is still pending, however he expects to have it in hand within the next 10 days after a supposed final inspection. According to him September handover is real, despite Ramadan.......maybe I should have asked him which year though!? Btw, they have done some fine tuning in the public areas since I went last, the lobby is still far from impressive but e.g. most of the broken marble in front of the lifts seems to have been replaced by decent slabs.

Gang2098

August 7th, 2010, 09:47 PM

smurf27

August 8th, 2010, 02:03 PM

GEP have no more responsibility with regards to X Cluster in JLT.
They are now handling Burj Al Nujoom in Downtown Dubai.

X-Cluster Handover
==============
The handover process & registration...will be done by Emirates Conveyencing.
The latest news on the handover dates are:
* X2: August 10th - October 1st, 2010
* X1: October 1st - November 15th, 2010
* X3: November 15th - December 31st, 2010

Contact Numbers:
- Emirates Conveyencing: +9714 338 98 62
- Imdaad (Maintenance): +97150 741 73 64 (Noha)

So who will be resonsible for all queries relating to penality payments, and snag request. This is absolute B*** S***t, if GEP thinks they can just walk away from the issue.

Also where did you get the information and dates on handover from, who have you been speaking too. We all need to stick together on this one and ensure that all issues are settled prior to final payments.

digitalhunk

August 8th, 2010, 05:26 PM

So who will be resonsible for all queries relating to penality payments, and snag request. This is absolute B*** S***t, if GEP thinks they can just walk away from the issue.

Also where did you get the information and dates on handover from, who have you been speaking too. We all need to stick together on this one and ensure that all issues are settled prior to final payments.

yes absolutely, as these crooks thinks that they can get away easily as UAE law is such that the one who pays is always at fault, and there is no proper law and order to safeguard the end customer, and laws keeps on changing every day.....all the owners should be compensated as per the law....

Gang2098

August 8th, 2010, 10:40 PM

Gang2098

August 8th, 2010, 10:42 PM

Same as above posted twice.

Formosa Explorer

August 9th, 2010, 07:51 AM

Emirates Conveyencing have taken over for the snagging, handover, registration of property, penalty payments, compensation, and all queries. That's where I got my information from. Contact them. They are in the process of handing over X2.

In any case, there was never a contact person at GEP who provided updates, so it doesn't really matter who hands over our property, as long as it's done fairly.

I have been to Residential Tower at Jumeirah Bay and it seems 98% complete. I don't see any further delay.

Dear Gang: Regarding the penalty payments, do you have positive response from Emirates Conveyencing? How will they calculate the penalty? Will they really follow the term and clause mentioned in the contract? Also, do you think it is possible for them to hand over X1 tower in 3rd or 4th week of Sept?

Actually, if it is Emaar project, we should have been invited for the snagging now in order to smooth up the project hand over. It would take long time for the developer to rectify the problem if they hand the property over to us first.

Formosa Explorer

August 9th, 2010, 02:55 PM

Dear Jumeirah Bay Owners:

Regarding the contact detail for Emirates Conveyancing, please find the below fyr:

Contact Window: Mr. Glen D'Souza
Phone No: 04-3389862
Fax No: 04-3389863
Email ID: glendsouza@emiratesconveyancing.com

Dear Gang:

Have you checked the maintenance charge for X1 Tower with Imaad? If yes, can you share with us?

osntdxb

August 10th, 2010, 09:55 AM

A friend of mine is looking to rent a 1 bedroom duplex at X1, preferably 23/24 floor, starting immediately after handover for 1 year. If interested please send me PM with rent. Thanks.

digitalhunk

August 10th, 2010, 11:51 AM

A friend of mine is looking to rent a 1 bedroom duplex at X1, preferably 23/24 floor, starting immediately after handover for 1 year. If interested please send me PM with rent. Thanks.

whats the unit number?

Gang2098

August 10th, 2010, 02:22 PM

Dear Gang: Have you checked the maintenance charge for X1 Tower with Imaad?
If yes, can you share with us?

Imdaad have not indicated the maintenance charges as yet.
Last year I heard from someone at GEP that it could be AED.12/sqft, but that's not official.
Whatever they decide has to be approved by the Dubai Land Department.
The average in JLT is AED.12/sqft, so that's the amount I am set for. Anything more would be a surprise.

I feel they would release the actual maintenance charges at handover.
It's best to contact Mr. Glen to check the dates for the snagging process.

osntdxb

August 10th, 2010, 02:36 PM

whats the unit number?
You misunderstood, she is looking for a place to lease as a tenant at X1, she doesn't own a unit herself. Ie anybody who owns a 1 bedroom duplex at X1, preferably but not necessarily 23/24 floor, and wants to rent it out please let me know. Thanks.

Gang2098

August 10th, 2010, 02:44 PM

You misunderstood, she is looking for a place to lease as a tenant at X1, she doesn't own a unit herself. Ie anybody who owns a 1 bedroom duplex at X1, preferably but not necessarily 23/24 floor, and wants to rent it out please let me know. Thanks.

May I ask what attracts her to X1?
Contact: <sajitster@gmail.com> to rent a 1-BR duplex.

osntdxb

August 10th, 2010, 03:10 PM

It's not for the high quality finish, timely handover or professional developer ;-) Instead it's because of me since I will be living there hopefully soon and we would like to be neighbours :-)

digitalhunk

August 10th, 2010, 05:28 PM

You misunderstood, she is looking for a place to lease as a tenant at X1, she doesn't own a unit herself. Ie anybody who owns a 1 bedroom duplex at X1, preferably but not necessarily 23/24 floor, and wants to rent it out please let me know. Thanks.

ok perfect, i own 23/2409 unit its a 1 br + study 1003 sqft facing szr, marina emirates golfcourse, can send u snaps what rent she would be looking at?

Formosa Explorer

August 10th, 2010, 09:27 PM

Imdaad have not indicated the maintenance charges as yet.
Last year I heard from someone at GEP that it could be AED.12/sqft, but that's not official.
Whatever they decide has to be approved by the Dubai Land Department.
The average in JLT is AED.12/sqft, so that's the amount I am set for. Anything more would be a surprise.

I feel they would release the actual maintenance charges at handover.
It's best to contact Mr. Glen to check the dates for the snagging process.

Jumeirah Bay owners might have to prepare more budget due to there is no sub meter for the cooling system so that we might have to pay annual cooling charge along with the maintenance fee to the maintenance company

Gang2098

August 11th, 2010, 02:25 PM

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100807/BUSINESS/708079899/1010/frontpage

Palm District Cooling (PDC), owned by the conglomerate Dubai World,
and Empower, owned by TECOM and DEWA, will have its district cooling
operations overseen by a new division being formed at DEWA.

osntdxb

August 12th, 2010, 09:36 AM

digitalhunk, I sent you a PM.

Formosa Explorer

August 12th, 2010, 11:30 AM

Dear Jumeirah Bay Owners:

Just got the reference info from Miss Noha regarding the service charge + cooling charge for X2 tower. It is around 14AED/Sqft.

BTW, regarding X1 tower service charge + cooling charge, she is still waiting for the update from GEP.

Gang2098

September 3rd, 2010, 07:35 PM

X1 maintenance expected to be at AED.12/sqft.
This rate has been sent for approval.

Formosa Explorer

September 5th, 2010, 09:12 AM

X1 maintenance expected to be at AED.12/sqft.
This rate has been sent for approval.

Dear Gang:

TKS for the info. Do you have any idea if the 12AED/Sqft including PDC charge or not as X1 has central meter instead of sub meter.

BTW, any idea for when would the hand over date be?

Gang2098

September 5th, 2010, 02:11 PM

Formosa Explorer

September 6th, 2010, 10:49 AM

I have seen there is a sub-meter system. Each apartment has it's own utility meter. Correct me if I'm mistaken.

Expected handover, according to a reliable source, is 1st week of October.
X3 would handover by Nov/Dec.

Hi!! Gang: TKS for your comment. Do you have any idea if the developer is going to compensate us for the hand over delay? How would the developer compensate in this case!!

musfeq@gerab.ae

September 7th, 2010, 06:44 AM

Dear All

In last 3-4 days i have contacted the below mentioned persons and here is the update may be it will be helpful for you all.

Contacted Emirates Conveyancing

Mr. Glen D'Souza
Mobile +971505825047,
Email - glendsouza@emiratesconveyancing.com

Apartment Handover for X1 -

A. No clear date he was able to give but approximately 3rd week of September.
B. They didn't receive the completion certificate yet.

Also I got the list of payments idea which need to be done before handover,

1. Expense Title - "Now due and payable as per Purchase Contract Al Nadha Real Estate Limited" (30% Outstanding Payment).

2. Expense Title - "Transfer Fee (1% of Contract Price) to dubai Land Department

3. Expense Title - "Finance Registration Fee (0.25% of Financed A Dubai Land Department" this is applicable if the property is mortgaged.

4. Expense Title - "Affection Plan Fee (AED 100) to Dubai Land Department.

5. Expense Title - "Title Issuance Fee (AED 175) to Dubai Land Department.

6. Expense Title - "Knowledge/Filing Fees (AED 30) to Dubai Land Department.

7. Expense Title - "Administration Fee for Title Registration (AED 2000) to Emirates Conveyancing.

Contacted Emdad
Noha Essam
Mobile - +971507417364
Email - noha.essam@imdaad.ae

She Informed that Emdad has submitted the proposal for the FM charges to RERA which is (AED 10 - AED 12 per sqft) but it is not yet approved. Once it is approved then they will call all the Proerpty owner for the further formalities. But when i asked whether DC (District Cooling) charge is included or not in the 10-12 AED she said YES. If it is YES then at least i am happy.

Contacted First Gulf Bank
(May be useful for those who have taken finance from FGB)

Mr. Qaisar Abbas
Direct Telephone - +97126920115
Email - qaisar.abbas@fgb.ae
(Drop him mail he will be contacting you back)

As per the 30% outstanding payment the bank process is quite simple. Once the building inspection & snagging is done and you are satsfied with that you have to instruct to the bank to release the payment. Once the payment is released there is nothing can be done if you have any concerns. So make sure you have taken care of everything what you want from the developer. There is no charges from the bank.

So that was the update i had to share with you all. If you guys have more information please update.

thanks
Musfeq saleheen

Formosa Explorer

September 7th, 2010, 07:56 AM

musfeq@gerab.ae

September 7th, 2010, 10:27 AM

Dear Musfeq:

TKS for the info. Do you have any idea how will the developer compensate us for the project hand over delay? The delay is around 2 year and 3 months which has aroused a pretty big financial lose for all of the property owners for this project!!

I have no Idae on this part. I hope someone will have this and should update here. I am also waiting for this answer.

thanks.

digitalhunk

September 7th, 2010, 11:26 AM

musfeq@gerab.ae

September 9th, 2010, 06:33 AM

mr. Musfeq

Thanks a tonn, you have done lot of work and gave us quality information
one small question, as i have taken finance, i will have to pay the interest on the amount paid by the bank at the time handover so how that will b calculated, if u have some information on this

As per my discussion with FGB i was told that there is no charges from the bank side, Because i was also worried about that. You may talk to your bank and get the clarity. It is important to know now only because time is very short. But if bank ask for the payment i am not going to pay. I will ask them to collect from the developer because i am ready to pay the EMI even today but the delay didn't happen from my side.

thanks
musfeq

Fsafarini

September 9th, 2010, 09:48 AM

digitalhunk

September 9th, 2010, 01:44 PM

Sorry to say you are wrong

I just sold my bloody apartment and I had mortgage, I paid 80K as interest. They dont stop calculating interest over the period at all, they will tell you the bank is different than the developer. Aseel finance is a seperate company.
What you can do? The government is not on your side, no legal system and you have no rights at all. That's why I sold the apartment and happily exit from this nightmare

yes you are quite right, these are the group of crooks and government is backing them, v did a biggest crime by investing in dubai, but now have to live with this, what ever may b the charge have to bear as there is a finance and i bought at 30% higher price then what the market is today,,,,i really regret, i should have invested the same money in india, it would have been 3 times easily by now.......

glover

September 9th, 2010, 02:46 PM

for how much!

Sorry to say you are wrong

I just sold my bloody apartment and I had mortgage, I paid 80K as interest. They dont stop calculating interest over the period at all, they will tell you the bank is different than the developer. Aseel finance is a seperate company.
What you can do? The government is not on your side, no legal system and you have no rights at all. That's why I sold the apartment and happily exit from this nightmare

musfeq@gerab.ae

September 13th, 2010, 10:32 AM

Sorry to say you are wrong

I just sold my bloody apartment and I had mortgage, I paid 80K as interest. They dont stop calculating interest over the period at all, they will tell you the bank is different than the developer. Aseel finance is a seperate company.
What you can do? The government is not on your side, no legal system and you have no rights at all. That's why I sold the apartment and happily exit from this nightmare

May be i am wrong. But i have updated based on what was told to me from the bank. Now again i am checking with Bank and shall update you all. Thanks for sharing the experince what you faced already.

Musfeq

muffassa

September 13th, 2010, 12:42 PM

Rights and compensation

Investor has the right to seek compensation.

http://gulfnews.com/uaessentials/ask-the-law/rights-and-compensation-1.678183

take a look at this

osntdxb

September 14th, 2010, 07:55 AM

May be i am wrong. But i have updated based on what was told to me from the bank. Now again i am checking with Bank and shall update you all. Thanks for sharing the experince what you faced already.

Musfeq

The loan was provided by Aseel Finance, which is part of FGB but a separate legal entity and therefore they will NOT take any responsibility for any kind of delay caused by GEP. Therefore they will charge the so-called construction in progress profit for the entire period from the day they made the finance available until handover of the unit. I don't quite know what the percentage is but it should be somewhere in the range of +/- 7% p.a., i.e. if you took a loan two years ago of e.g. AED 700,000 (for argument's sake assume this amount represents 100% of the original purchase price) you will not get the apartment or office keys until you parted with the construction in progress profit on finance equivalent to 70% (the remainder of 30% are due on handover as you know) of the AED 700,000, i.e. 7% x 2 years on AED 490,000 = AED 68,600!!! Be aware that this amount does NOT get deducted from your loan repayment, it is literally lost money and with FGB having been smart enough to legally separate their entities for finance and project development there is absolutely nothing you can do about it!! The conclusion is that FGB makes extra cash from all investors who took a loan with every additional day of handover delay, so what's the rush to hand over this project?? This in combination with a presumed blatant refusal by GEP for compensation according to the contract, which amounts to peanuts compared to the construction in progress profit, is an insult to all investors and I sincerely hope that in the last minute GEP will finally start honouring its obligations.

musfeq@gerab.ae

September 14th, 2010, 01:10 PM

The loan was provided by Aseel Finance, which is part of FGB but a separate legal entity and therefore they will NOT take any responsibility for any kind of delay caused by GEP. Therefore they will charge the so-called construction in progress profit for the entire period from the day they made the finance available until handover of the unit. I don't quite know what the .............................

Today i got the clarification from the Bank. It's worse than what you said and what i understood. At the time of final payment bank is going to re-calculate the EMI (Principle+construction in progress profit for this two yrs). That means this extra amount what they are collecting will be added with more interest. This is completely robbery. They cannot do this. In your case i think you sold the property that's why they took this amount separetly but in my case i need to pay it on installment basis. So end of the day i will be paying more than you. I dont know what to do with this property? i am ready to sell it of but how to sell?

musfeq

Formosa Explorer

September 14th, 2010, 01:14 PM

digitalhunk

September 14th, 2010, 02:48 PM

Regarding the project delay compensation, the developer shall release the monthly compensation based on Dibor rate in the past 2 years. However, I checked this issue again with Mr. Glen Dsouza from Emirates Conveyancing this morning, and there is still no final confirmation from the developer regarding the compensation till date. I strongly suggest the property owner to file this case with the legal dept in the Dubai Land Dept so that we can formulate the strength against this irresponsible developer to take the necessary responsibility. After all, even if we can the compensation, it still can not cover the so called construction period profit which is charged by the subsidiary of the same developer. Not to mention our developer is a bank which should be more responsible for whatever written black and white in the contract.

i am sailing in the same boat, looking at the law and order in dubai, i think there is nothing v can do about it, and this developer is a semi government company from abudhabi so we are left with no options, the more v delay the possession of our apartment by getting into legal obligations more loss we only have to bear, ofcourse that doesnt mean v have to accept the way it is,,,,,but as i said these are the gang of crooks and we all are trapped into it
we cant sell the aprtment as the price have gone half almost and if v dont take the possession v come under fault bcoz we have taken finance from FGB so really dont understand how to get out of this situation.......

Formosa Explorer

September 15th, 2010, 10:36 AM

I just visited the X1 Tower and talked to the contractor. As you are aware of, the project already received the DMCC completion certificate; however, it is still waiting for the certificate from EHS, and Thakrees.

One of the major courses now for the certificate from the mentioned 2 institution is that the developer is not willing to pay the contractor so that they couldn't allocate man power to finish the final stuffs.

For the buyer with mortgage, we are not only facing the deleoper's unclear intention to release the compensation, but also our construction period profit to the developer's subsidiary is being accumulated day by day.

If there is any assistance and be provided from anyone, please share your idea with us. TKS!!

Gang2098

September 17th, 2010, 10:03 AM

I received this letter from GEP by courier yesterday.
At the top of Page 2, it says there will be a further delay...

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

sk82

September 18th, 2010, 10:59 AM

Dear All,

I am also a mortgage buyer and am very worried about the delay and the impact it has on the interest.

I had purchased the property back in May 2008 in the secondary market at almost 50% higher prices than today (approx 1250 psqft).

The contract from GEP/FGB at that time still read the completion date to be July 2008. Imagine that I bought the property in May - they said completion in July and thereafter it has taken them 2.5 years and it is still not complete.

Moreover, at that point in time FGB were themselves handling the sales of the units and then somewhere in between GEP came into the picture.

I am very concerned on what penalty charges will be paid.

Is anyone taking legal advice on this ? Or is there a group of people in a similar situation like mine taking any action ?

Please let me know

Regards,

MFQDXB

September 20th, 2010, 10:24 AM

Formosa Explorer

September 20th, 2010, 01:16 PM

Dear All

I got a letter today from GEP with the handover dates mentioned as "End of October". In the letter they have given the contact details for EC and Emdad that's all.

I dont know how much confident they are this time. :):)

MFQ

Hi!! Are you sure that "End of October" is the hand over date of the date of receiving the final completion certificate? If you check the letter above, it shall be the date of receiving the final completion certificate:):)

MFQDXB

September 21st, 2010, 12:43 PM

Hi!! Are you sure that "End of October" is the hand over date of the date of receiving the final completion certificate? If you check the letter above, it shall be the date of receiving the final completion certificate:):)

ooooooooooooooppps i didn't notice that. you are correct. :):):)

Formosa Explorer

September 21st, 2010, 12:49 PM

If it is the case, I think we shall expect the "REAL HANDOVER" happen in Nov.

smurf27

September 21st, 2010, 03:18 PM

All we need to make sure that not only the development is handed over on time, but that the developer does not take all of the Maintance fees up front. According to the contract thet are only supposed to collect this on a quartley basis in advance. Yet the letter looks like the will want lump sum payments.
I also have issue with the final build quality, as the final project looks nothing like the interior images used in the sales broucher. So may have further case for compensation

MFQDXB

September 23rd, 2010, 03:35 PM

Formosa Explorer

September 26th, 2010, 10:52 AM

Dear all

Who have taken loan from the bank to buy this property please check with your bank and ask them what is the principle amount as of today and where your EMI is standing now compare to what was calculated at the time of loan sanction. My EMI increased about 2000 AED per month. 270K AED only interest added to the principle amount. This really hit very bad to me. So this is just my opinion before it creates more disaster talk to your bank take some necessary action which suites your condition.

thanks
MFQ

Dear MFQ:

May I know if your mortgage is islamic mortgage or retail banking mortgage as the payment approach of EMI might be different. Also, Your interest been charged during the construction period is really high. Are you planning to ask for the compentation from the developer?

Formosa Explorer

September 26th, 2010, 01:58 PM

Hi All:

I just got the chance to talk to Miss Noha from Imdaad. She mentioned that the maintenance charge can be paid by 4 cheques.

MFQDXB

September 26th, 2010, 02:04 PM

Dear MFQ:

May I know if your mortgage is islamic mortgage or retail banking mortgage as the payment approach of EMI might be different. Also, Your interest been charged during the construction period is really high. Are you planning to ask for the compentation from the developer?

No it is not financed by Islamic mortgage. I dont know how to ask the compensation from the developer. lets see while handover process i will ask EC.

Formosa Explorer

September 26th, 2010, 03:33 PM

Our Reference: JHL/JLT/JBX1/ID/10091301 Date 2010/Sep/13

Kind Attention: Mr. Glen D’Souza/Emirates Conveyancing

Reference: Unit XXX, Jumeirah Bay X1 Tower, Jumeirah Lake Towers

Subject: Request of the monthly interest to be paid following Clause 5.2 in the sales and purchase agreement, and the property hand over date

Dear Mr. Glen D’Souza/Emirates Conveyancing

I would like to remind your company that we are stepping into the 3rd week of Sept, 2010, and I would like to receive the update of the property hand over date as it is seriously affecting my cash flow and current property leasing schedule.

I would like to request your company to follow up the issues for the property late handover compensation which has been proposed in the previous letter with Ref No: JHL/JLT/JBX1/EC/10080901, and clause 5.2 in the SPA. The estimated compensation should be in the range in between XXXXAED to XXXXAED for X1 Tower, unit 104. Please advice how would the compensation be paid.

Your prompt action and response is highly appreciated!!

Best Regards,

XXX Mob No: +971XXXX/E-Mail: XXX@XXX.com

Gang2098

September 27th, 2010, 10:03 AM

Formosa>>

You're Unit #104. We'll somewhat be neighbours...

Please post Mr. Glen's reply as soon as you receive it. Thanks.

digitalhunk

September 27th, 2010, 04:42 PM

Dear MFQ:

May I know if your mortgage is islamic mortgage or retail banking mortgage as the payment approach of EMI might be different. Also, Your interest been charged during the construction period is really high. Are you planning to ask for the compentation from the developer?

whats the difference between islamic and non islamic?
i have finance form FGB and as far as i know its an Islamic Finance
if you can guide me please thanx

Gang2098

September 28th, 2010, 12:43 PM

http://www.scribd.com/doc/17116904/Islamic-Banking-vs-Conventional-Banking

Formosa Explorer

September 28th, 2010, 01:38 PM

Islamic mortgage:

1: No payment to be done during the construction period
2: All the interest accmulated and the remittance starts from the property hand over
3: Repayment loading would be very high in the first year after property hand over due to the monthly installment would be including the construction period interest + the regular installment
4: If it is 20 years islamic mortgage, the 20 year would be counted from the property hand over

Retail mortgage (Conventional mortgage)

1: Capital interest needs to be remitted to the bank every month once the mortgage start
2: If it is 20 years retail mortgage, it seems it would be calculated from the mortgage date. Therefore, if the property handover is delayed, the monthly installment might be increased due to the actual mortgage is combining the construction period + the period after property hand over

I might make mistake in my summary. If any, pls don't be hesitate to correct it!! Hope it helps!!

Formosa Explorer

September 28th, 2010, 02:52 PM

Formosa>>

We'll somewhat be neighbours...

Please post Mr. Glen's reply as soon as you receive it. Thanks.

Hi Gang: Good to know that. Mr. Glen's reply is quite standard that he will transfer my letter to the developer and wait for the response. However, he told me not to have too high expectation as there is no compensation made against X2 so far

WaterWorld

October 5th, 2010, 02:36 PM

We have commericial offices and took a look at our offices and there are no walls between adjoining offices. Green Emirates defination of Shell and Core is also no walls even though we bought individual units. They have given seperate Doors, Seperate AC Units, Seperate Dewa Consumer Numbers but no walls?????

They are offering compensation, but it just does not make sense to me. Anyone else in this situation?

Formosa Explorer

October 5th, 2010, 02:42 PM

osntdxb

October 5th, 2010, 03:20 PM

Went to see X1 today and spoke to some kind of manager of the contractor. He said all is done from their end re EHS and that today's EHS inspection was positive. But he also said there is another final inspection still to come before the EHS cert can be issued and he didn't know when that would be. He gave me the name and number of the Morganti project manager Imad Itani who should know and when I called him he said today was the final EHS inspection. According to him all that's pending is the submission of some final paperwork and by end of next week Imad expects the EHS cert to be issued followed by the BCC shortly after, with handover by the end of October. Seeing is believing but since they were already removing building dirt from he downstairs windows maybe the end is indeed near.

MFQDXB

October 6th, 2010, 09:43 AM

Formosa Explorer

October 12th, 2010, 01:05 PM

Just talked to the engineer from the contractor. HE mentioned their job is done only wait for the report from Jafza now. If the report is positive, the developer would be able to process the building completion certificate, Not really sure when would the developer be able to start hand over; however, according to the last letter, it seems handover in Nov could be possible!!

smurf27

October 17th, 2010, 03:17 PM

Does anyone out there know how compensation will be calculated. According to contract its states 1 month DIBOR rate for every month of delay past final long stop date.

ie. Original completion June 2008, 12 month extension as allowed per contract so revised completion date June 2009. As of today October 2010 delays amount to 16 months. So will developer be paying current 1 month DIBOR rate multipled by number of months delay?????

Anyone with a finance back ground please help.

Kashifsi

October 17th, 2010, 11:47 PM

the rate is annual so divide it by 12 for monthly calculation.

Formosa Explorer

October 19th, 2010, 01:07 PM

Checked with the contractor again today. Still no idea when the building completion certificate be ready. Finger crossed!!

sk82

October 28th, 2010, 01:59 PM

Hello All,

I heard from FGB that delivery will be in Dec 2010.

This is really bad, that every month we keep hearing of more and more delay.

Does any one have any suggestions ?

Moreover, I have not heard anything official from GEP or anyone regarding the delay being in Dec. 2010.

Regards,

yasinbiz

October 29th, 2010, 09:43 AM

received a notice for x2 offices THERE IS NO CLAIM FOR LATE COMPLETION.
the sizes have been reduced the difference has been settled by service charges which has not been officially declared

contract reads LAKE VIEW BUT NO LAKE VIEW FOR WHICH DEVELOPER ENTERTAINS NO CLAIMS.

Been to RERA to help with regards to the same above no help received from them.

Any one in the same situation as above?
this situation is one of the worst fears for an investor comes to

Gang2098

October 29th, 2010, 03:37 PM

Snagging process is underway for X1.

You can speak to Imdaad to organise a date & time that is convenient.

MFQDXB

November 1st, 2010, 07:29 AM

Snagging process is underway for X1.

You can speak to Imdaad to organise a date & time that is convenient.

Please find below the reply from EC received just now.

Thank you for your email.
As per the latest update from the developer the BCC (Building Completion Certificate) is expected by 15th of November as the civil defence inspection is still in progress.
We will keep you posted shortly.
Thanks & Regards
Glen D'Souza

Gang2098

November 1st, 2010, 02:02 PM

So we can expect another letter from GEP stating a further delay.

They should just send a letter stating Jan 2011, and if it's handed over before, then we will all be surprised.

I believe the snagging can still go ahead...

Gang2098

November 3rd, 2010, 10:20 PM

I very much doubt it will be 15th November, as that is the start of Eid.
So I'm guessing handover will be end of the month at the earliest.
Knowing GEP's reputation, we could expect it in early-2011.

globizdxb

November 6th, 2010, 05:34 PM

Before I registered the company name at JLT, everything was showcased perfect and nothing was revealed about office fit-outs, real estate agents, variable deposit and commissions etc. After registering the co name at JLT, I was surprised to see how unprofessional real agents from different agencies would do just anything to lease out the office units. Following are the instances:

1. Firstly, no one from DMCC told me about Shell & Core office spaces at JLT before or during the initial approval stage. I was told that the procedure is simple, cost-effective and offices are in modern/perfect shape.
2. Secondly, the average fit-out costs are 30,000 dirhams which again, I had to find out after running into different sources and never got a number from the real estate agents or the DMCC.
4. One needs to apoint a professional architecture firm to put the drawing together which go to the authorized fit-out agency of DMCC. Then a long set of procedures take place along with lot of unnecessary fee for approval, inspect etc. The best part is, you are not given any assurity of acceptance even after paying all the money.
4. The real estate agents are pushing shell and core space vs. DMCC fit-out guys who are suggesting to opt for fitted offices. Both were playing blame games when I spoke to them. I dont know who to listen to and whats the logic.
5. I tried to lease fitted office to escape from the fit-out costs but the real estate agents are charging way too much above market price for fitted offices. Moreover, some agents demand 5000-10000 commission vs 5% as per law and 5000-10000 deposit vs 5% by law. Moreover, no assurity is given for next year rent increases.

So finally on the books, my initial budget overshot by 60000-70000 in the first fiscal year and all my operational and liquidity plans went to trash. I gave up on JLT and thought it would be better to give up 10000 for initial approval and open up a company in Dubai with a local sponsor. The end result? I am paying 15000 less/year (all inclusive) for a license that allows a broad range of activities vs one, same office space area and a fitted one.

My suggestion to all, avoid JLT

globizdxb

November 6th, 2010, 05:37 PM

Formosa Explorer

November 8th, 2010, 12:18 PM

I overheard some info from the developer that DMCC promised to release the Building completion certificate to the developer this week. Not sure if it will come true, yet probably all the property owners can push the developer harder to speed it up.

smurf27

November 8th, 2010, 01:36 PM

Formosa Explorer

November 8th, 2010, 01:40 PM

Have you had any formal response from ECC on the issue of COMPENSATION, I expect we should recieve late penalty payments for delays, loss of renatl yield due to delays. Please let me know what ECC have said to date.

The answer is a big "No". No compensation to the buyers. The only possible compensation is if you pay some money after 2008, June, the developer might consider to compensate the payment made after 2008, June. For those paid before 2008, June, there won't be anything.

smurf27

November 11th, 2010, 10:02 AM

The answer is a big "No". No compensation to the buyers. The only possible compensation is if you pay some money after 2008, June, the developer might consider to compensate the payment made after 2008, June. For those paid before 2008, June, there won't be anything.

Where do you get this information from, and are you going to talk to a lawyer. I cannot believe with this ammount of delay that Developer will not compensate.

Formosa Explorer

November 11th, 2010, 03:36 PM

I talked to Emirates Conveyancing, and I am quite tired of following up this issue. As long as they can give me the property ASAP, I will just pass it

Gang2098

November 11th, 2010, 04:04 PM

I agree with Formosa, although it would be great to get some compensation even $4,000 -$5000.

Next week is Eid, so nothing will happen until after the 21st Nov.

Gang2098

November 17th, 2010, 11:45 AM

Now that another handover date has passed: Nov 15th (Eid-Al-Adha), the next possible handover dates could be Nov 26th, Dec 2nd, Jan 1st or Feb 26th...

Note:
Nov 26th: Islamic New Year | Dec 2nd: National Day | Jan 1st: New Year´s | Feb 26th: Prophet´s Birthday..

MFQDXB

November 30th, 2010, 07:50 AM

Dear All

Any one has any update for X1 handover ????? Everyday at least 10 times i come to the site to check if someone gives some good news :(:( but .........

thanks

Formosa Explorer

November 30th, 2010, 08:22 AM

Dear All

Any one has any update for X1 handover ????? Everyday at least 10 times i come to the site to check if someone gives some good news :(:( but .........

thanks

Hi!! I just called EC and GE. No update till today thought it is already end of Nov. GE staff told me they will get some update on Sunday. However, according to my understanding, EHS and Cilvil Defense Certificate has been received. There should be no issue to the BCC release. If there is anyone know the management in DMCC, it would be highly appreciated to help to push the BCC release from DMCC side. We still have to keep our finger crossed............

Gang2098

December 1st, 2010, 03:30 AM

20 Sept, 2010
Dear Sir,

Where DMCCA is concerned, the X1 tower, which is part of the Jumeirah Bay development at Jumeirah Lakes Towers (Cluster X), completed all DMCCA formalities months ago and the tower is now going through the Building Completion Certification process with the relevant Regulatory Authority, Trakhees. This process is completely out of the control of DMCCA.

We believe that it is now only a very short wait until X1 achieves Building Completion Certification and that you will soon be able to take possession of your apartment.

We look forward to welcoming you to Jumeirah Lakes Towers very shortly.
Please do not hesitate to contact us if we could be of any further assistance in matters pertaining to the JLT community.

With best wishes and kind regards

Indira Jonklaas
Senior Customer Services Manager
E-mail: indira.jonklaas@dmcc.ae

Dubai Multi Commodities Centre
Jumeirah Lakes Towers, Site Offices,
Sheikh Zayed Road
PO Box 48800,
Dubai, UAE
www.dmcc.ae

Formosa Explorer

December 1st, 2010, 09:38 AM

Dear XXX

As far as DMCC is concerned, Tower X1 received our “JLT NOC” as far back as May 2010, signifying that all commercial, legal, engineering and inter-face issues between the Sub-Developer and the tower and DMCCA had been settled.

Thereafter, the Sub-Developer embarked on the BCC process with Trakhees. Building Completion Certification or BCC is a matter between the Sub-Developer and Trakhees, the Regulatory Authority for JLT, which certifies that towers are complete, amongst other matters. DMCCA is not involved after our “JLT NOC” is issued.

Please continue to be in touch with the Sub-Developer for an update on the BCC status for X1.

I could personally comment that as X1 has already obtained Trakhees EHS’ NOC and Civil Defence clearance, BCC should not be very far away, perhaps only days, but am unable to say exactly when it could be expected to be issued.

All the best

Indira

Indira Jonklaas

Senior Community & Customer Services Manager

Jewellery & Gemplex - Building No 2 - Level 6

Jumeirah Lakes Towers

P.O. Box 48800, Dubai, UAE

T +971 4 390 3364

F +971 4 390 3365

M +971 50 55 25 077

E indira.jonklaas@dmcc.ae

www.dmcc.ae

www.jlt.ae

MFQDXB

December 1st, 2010, 12:08 PM

Thanks a lot to post those updates. At least we can see some hopes.

MFQ

Formosa Explorer

December 1st, 2010, 12:43 PM

I just talked to Mr. Hela from Trakhees. He mentioned that Trakhees has given some comments to the X1 consultant, and the BCC shall be able to be released after the upcoming holiday. Though I am not sure if it is true or not, let us cross our finger:):)

Formosa Explorer

December 5th, 2010, 09:49 AM

Just visited X1 tower, the contractor started to evacuate their office in the retail shops in the ground floor. Imdaad said that BCC should be ready anytime within this week. Hope the dream can be coming true soon.......

Formosa Explorer

December 8th, 2010, 11:23 AM

Had a word with Mr. Iyad who is applying for the BCC for X1 Tower. Due to the final comment from Trakhees is to clean the retail shops used as the office in X1 tower. Once it is cleaned and inspected, the BCC can be issued in the following day. Therefore, the expected BCC release date is next Monday or Tuesday. Hope it is true.

MFQDXB

December 8th, 2010, 01:00 PM

Formosa Explorer

December 9th, 2010, 08:46 AM

started dreaming .........:):) hope we can meet soon.

Sure!! Finger crossed!!

Gang2098

December 9th, 2010, 03:42 PM

Dec 5th, 2010

http://img828.imageshack.us/img828/8223/dsc0539y.jpg

:)

MFQDXB

December 12th, 2010, 06:39 AM

Hi All

I been to the site (X1) yesterday evening. Consultant office and other offices are moved to the X3 building. X1 building clean up started. Site Engineer told me end of Dec or first week of Jan would be THE DAY. another 2 weeks time for the entire building clean up seems to be essential. So to me first / second week of Jan looks positive indication.

New year .... new hope, in advance Happy new year to all cause i am going for annual leave :):):) so see you all in next year in our X1 Community.

Cheers....

Formosa Explorer

December 12th, 2010, 08:59 AM

Hi All

I been to the site (X1) yesterday evening. Consultant office and other offices are moved to the X3 building. X1 building clean up started. Site Engineer told me end of Dec or first week of Jan would be THE DAY. another 2 weeks time for the entire building clean up seems to be essential. So to me first / second week of Jan looks positive indication.

New year .... new hope, in advance Happy new year to all cause i am going for anual leave :):):) so see you all in next year in our X1 Community.

Cheers....

Good news and nice vacation!!

ARDUBAI

December 13th, 2010, 08:29 AM

Hi - I am interested in buying a one bedroom duplex in X1 preferably on higher floors.

Gang2098

December 13th, 2010, 12:19 PM

Hi - I am interested in buying a one bedroom duplex in X1 preferably on higher floors.

I have a friend who has a 1BR duplex between the 25-30th floor, and he's interested in selling. PM me with an offer.

Formosa Explorer

December 13th, 2010, 01:57 PM

Managed to talk to several sources regarding the hand over:

1: Green Emirates: No idea
2: EC: No idea but anytime soon
3: Imdaad: No idea but anytime soon
4: Consultant:
a: Mr. Suheil: Hopefully by this weekend
b: Mr. Iyad: This Wednesday
5: Trakhees: Mr. Hela: After the developer rectify the comment he has given and inspection

Some owners can't wait any longer due to the expiry of the tenancy contract. Only thing for sure is that the shops have been cleaned up and contractor are working on some rectification. It is really annoying especially in this stage.......

Gang2098

December 13th, 2010, 03:12 PM

Managed to talk to several sources regarding the hand over:

Some owners can't wait any longer due to the expiry of the tenancy contract. Only thing for sure is that the shops have been cleaned up and contractor are working on some rectification. It is really annoying especially in this stage.......

I agree it is extremely frustrating. My tenancy contract ended in October.
They keep promising a handover date, but then further delaying..

From the responses above, there doesn't seem to be any communication between all the people (GEP-EC-Imdaad), as all of them have no idea.

There is word, that they may need to clean the facade of the building (the glass exterior) and the Reception Lobby/Elevators...before handover.

That could take another 2-4weeks. Hope this is false information. They can do the cleaning after we move in with all our furniture/ large appliances....etc..

Formosa Explorer

December 14th, 2010, 05:39 AM

I did notice that a lot of buildings in Jumeirah Lake Towers wasn't 100% completed before the hand over. For example, Indigo Tower took another 6 month to finish everything after hand over. Incon Tower also had a lot of remaining problems after the handover. Lake point Tower didn't even finish their lobby when the hand over started. Not to mention about the glass clearance. I really hope the BCC can be released soon since I have extended my tenancy contract for 3 months and the landlord can't wait any longer!!

Formosa Explorer

December 14th, 2010, 08:08 AM

Just had a word with Mr. Hassam from the consultant. The reason for the re-inspection was Trakhees sent different inspector last time so that different comment was given. Hopefully it won't be happening again due to the re-inspection would be applied tomorrow, and the worst case scenario for the BCC release would be by next weekend......errrrrrrr.

The reason for some towers could start handing over was due to the developer applied for undertaking before the real BCC released, yet our developer doesn't wanna go through this approach. Finger crossed...

osntdxb

December 18th, 2010, 08:39 AM

Gang2098

December 18th, 2010, 05:46 PM

Info from both the project manager and Imdaad: The BCC inspector gave his approval last Thursday, BCC shall be issued Sunday or Monday latest. :-)

BCC inspector gave a verbal approval ??
Imdaad & Project Manager both said the BCC would be issued Sunday or Monday ??

It's hard to believe their word. Seeing is believing.
I looking forward to seeing the BCC, a written approval certificate on Monday.

Formosa Explorer

December 19th, 2010, 01:30 PM

Hi Gang:

Good Day

Actually I also got similar info, and Mr. Iyad told me that BCC should be ready tomorrow. Though I am not sure if we can count on this, hope we really have this good news together....:banana:

Freestyler

December 19th, 2010, 02:29 PM

I want to setup my office, anybody knows a good contact. Cheap but good quality. Thanks

Gang2098

December 19th, 2010, 04:48 PM

Formosa Explorer

December 19th, 2010, 05:12 PM

Who is Mr Iyad ? Which company does he work for?
What is his contact number?

=====Quote from the previous msg================
4: Consultant:
a: Mr. Suheil: Hopefully by this weekend
b: Mr. Iyad: This Wednesday
=====Quote from the previous msg================

Gang2098

December 19th, 2010, 07:43 PM

I saw that post already, but that post doesn't give his company name & contact number.

I just wanted to know who Mr. Iyad is? Consultant ?? Which company is that?
Where is his office? What is his contact number, so I can speak to him.
I guess Mr. Suheil is from the same company Mr. Iyad.

celticmonkey

December 20th, 2010, 11:49 AM

any guide to what the maintenance fee, chiller fees and any other fees which we face? land registration etc.
has anyone negotiated a consolidation or any renumeration?

espera

December 21st, 2010, 07:54 AM

...... and ....????:wallbash:

espera

December 21st, 2010, 07:59 AM

...... and.....????:wallbash::ohno:

Formosa Explorer

December 21st, 2010, 01:57 PM

BCC released today according to the project consultant and Takhrees. Please be noted!!

Tareq_dubai

December 22nd, 2010, 07:29 AM

Good news,

And now what is the next step? are they going to hand over the keys immediately? or they will do the snagging first then after 1 month we will get the key? Are they going to send official correspondence regarding the handover process, service fees and late handover penalty?

Thanks

Formosa Explorer

December 22nd, 2010, 08:03 AM

Breaking News:

I saw the BCC in the project consultant's office. All the related parties are having a meeting now including the developer, consultant, and contractor. I suppose they would give a copy to each related window after this meeting.

X1Owner

December 22nd, 2010, 02:07 PM

Hi All X1 Owners....Just got the news that finally the BCC has been received.....and the handover would start...I have been an active reader and thought this is the time to post....It seems that the developer is not going to compensate us for any delays....We should all get together and speak to him now...since its the time for handover....Would be gr8 if fellow owners start sharing some ideas and we get together quickly......

Tareq_dubai

January 2nd, 2011, 08:42 AM

Hi All,

Did anybody hear anything from them? what to do now should we wait for them or what?

Gang2098

January 2nd, 2011, 01:13 PM

All X1 owners should be receiving a Handover Letter in the post this week, which should explain the next course of action in terms of Final payment, Compensation, Maintenance charges & handover of keys etc..

Outdoorlights

January 3rd, 2011, 12:33 AM

Hi i am looking to trade my studio at X1 for a 1 bedroom simplex or duplex, please email me if interested.

Outdoorlights

January 3rd, 2011, 12:36 AM

da_me@hotmail.com

espera

January 6th, 2011, 04:42 PM

Have sent the letter, speak, that the compensation is not necessary to us, and the size of an apartment is less on 1,5м. Write, that the contract is reliably protected from the compensation! We that herd of rams???

msanad

January 7th, 2011, 07:37 AM

1- Most developers use the clause Force Major as a reason for Delay (check your contract)
2- Service charges should be approved in written by RERA.
3- Service Charges is payable by the person whose name is on the title deed, in other words no Title deed then Service charges is due on the Developer not the owner.
4-By new RERA regulation , to issue title deeds the developer have to ask 3rd party servayors to servay all the building units. (It depend on the % of variation allowed in your contract.
5- Upon Handover Make sure to inspect the common areas not only your unit. some developers do undertaking to recify and then later they never do.
6- Check if each unit has separate district cooling meter and what is the capacity load allocated for each unit.
7- Title deed / Land registration is 1% of the value ayed by the owner and 1% paid by the developer +AED380.
8- Ask for Common areas drawing and Layout it will help you later with the formulation of the owners association.
9- check how is parking numbers is allocated for each unit and make sure that the Parking number is mentioned in the title deed.

http://i54.tinypic.com/15x5089.jpg

BMNT

January 8th, 2011, 08:07 AM

Has anybody recieved the official confirmation letter for the handover in courier mail,, what are the next steps,whom we have to make the final payment and when????

Gang2098

January 14th, 2011, 03:55 PM

Everyone must have received the official Handover letter by post.

Now starts all the payments:
- Final 30% as per SPA [TO: Al Nahda]
- Title Registration Fee [TO:Emirates Conveyencing]
- Dubai Land Department Fees [TO:Emirates Conveyencing]
- Maintenance Charges (10.92/sqft) [TO: Imdaad]

The final sqft in all apartments are reduced.
Check with Emirates Conveyencing for the percentage amount of less sqft.
Imdaad will issue you a new floor plan with new measurements.

Binayah

January 16th, 2011, 01:25 PM

Congratulations to all owners on the commencement of handover of their units.

We specialize in JLT in both rental and sale.

To list your units with us please email us on uk@binayah.com or call us on 055-5099157 or 04-4475430

Regards
Binayah Real Estate

bizzybonita

January 16th, 2011, 01:35 PM

^^ Read the General Forum Rules carefully !

http://www.skyscrapercity.com/announcement.php?f=377&a=221

digitalhunk

January 30th, 2011, 09:05 AM

anybody with siraj finance (islamic finance) ? they are asking the interest acrued for last 2 and a half year together, its just ridiculous they shud add the amount in the loan amount and increase the monthly installment....if anyone with the same problem kindly personal message me

msanad

February 2nd, 2011, 09:34 AM

with Islamic Finance such as Tamweel at the time of signing the mortgage agreement they depend of the Developer to have an estimated handover date and based on this date they calculate profit rate to cover the period from the date of the mortgage till this estimated handover date. and this amount will be due at the time of Handover.

Thanks and Best Regards,
Mohamed Sanad
www.sanadoam.com

Gang2098

February 3rd, 2011, 08:58 AM

Latest photo

28/January/2011
http://i54.tinypic.com/v6q3rn.jpg

iownyou

February 15th, 2011, 05:05 PM

haha thank god I sold what I had in this tower(x2)

Imre

February 15th, 2011, 05:51 PM

haha thank god I sold what I had in this tower(x2)

Thats great and what happened with your floors at the Business Bay or JLT?

:cheers:

Gang2098

February 18th, 2011, 09:19 AM

Thanks Imre

http://i56.tinypic.com/23ts8s1.jpg

Gang2098

February 18th, 2011, 09:31 AM

Exterior Cleaning

http://i54.tinypic.com/vr7wb7.jpg

AltinD

March 9th, 2011, 09:19 PM

A friend who ownes a studio, took delivery and already rented it out through an agent for 36,000 AED, 4 cheques. She paid 5,500 AED service charges.

Imre

March 10th, 2011, 07:15 AM

A friend who ownes a studio, took delivery and already rented it out through an agent for 36,000 AED, 4 cheques. She paid 5,500 AED service charges.

Thats the correct price, we had a small studio of Goldcrest 2 and was rented out within 2 days only for 35K.

celticmonkey

April 17th, 2011, 10:50 AM

how much are the duplex 1 beds renting for?

celticmonkey

April 17th, 2011, 11:03 AM

Word is that there will be no retail in X3 and very limited retail in X1! has anyone else heard what retail there is. I am looking at moving into X1 but with no/limited retail im not so sure. apparently this is the developers decission!!

Gang2098

April 26th, 2011, 08:50 AM

Formosa Explorer

April 28th, 2011, 08:35 AM

Current Rents (20-Apr-2011)
- Depending on sq-footage.
- Height or view is not so relevant now.
- Proximity to Dubai Marina metro is a key factor.

Studio (560sqft): 30k - 35k
1-BR Simplex (880sqft) : 35k - 45k
1-BR Duplex (1050sqft) : 45k - 55k
2-BR Simplex (1500sqft) : 60k - 75k
2-BR Duplex (2000sqft) : 75k - 85k

There are supposedly a Dry Cleaning company, and a Courier company interested in taking up space in X1 retail. It would be nice to have a Mini-market, and Cafe/Restaurant. (fingers crossed).
I'm sure it won't be too long before a Subway is there.

Hi Gang:

I have lived in X1 tower since early Feb 2011. As per my observation, it seems the range of the rent for the apt are as the below:

1: Studio: 32K or above
2: 1 BR (Simplex/Duplex): 50K to 55K
3: 2 BR (Simplex): 70K or above
4: 2 BR (Duplex) 2000 sqft: 80K to 90K

Not sure about the rental difference for the furnished apt in this tower if there is any!!
U may also keep this info fyr!!

Gang2098

April 29th, 2011, 06:57 AM

Hi Gang:

I have lived in X1 tower since early Feb 2011. As per my observation, it seems the range of the rent for the apt are as the below:

1: Studio: 32K or above
2: 1 BR (Simplex/Duplex): 50K to 55K
3: 2 BR (Simplex): 70K or above
4: 2 BR (Duplex) 2000 sqft: 80K to 90K

Not sure about the rental difference for the furnished apt in this tower if there is any!!
U may also keep this info fyr!!

I have also been living in X1 since Feb.
My estimations were not far off. [They were from a reliable source].

Freestyler

June 30th, 2011, 12:13 PM

Anybody has internet connection there? Whats the speed and cost?

msamre

July 21st, 2011, 12:02 AM

Du Internet Service availability:

Building Name Expected date of Service Availability Status/Remark
JLT - Jumeirah Bay (Plot # X1) 7-Feb-11 Service Available
JLT - Jumeirah Bay (Plot # X2) 3-Nov-10 Service Available

Broadband speed and prices:

broadband Monthly Fee (AED)
256 Kbps 149
512 Kbps 189
1 Mbps 249
2 Mbps 349
8 Mbps 449
16 Mbps 549
24 Mbps 749
value added services
Additional e-mail address 10MB 14
Additional mailbox space 50MB 5
Additional mailbox space 100MB 10
Static IP address One time activation fee AED 300
Activate as many Home Services as you want for just AED 200

Abuhnida

August 3rd, 2011, 09:10 PM

Intrested in 2BD in X1 moving within 10 days.

X1_Resident

October 29th, 2011, 07:28 PM

lilyane

November 14th, 2011, 12:35 PM

Hi X1 residents...
Being a resident of X1 we should all get together against the following issues:

1) The facade cleaning of the tower has not taken place since it was done 1st in March this year.The only answer I am getting from the past 1.5 mth is that its all setup only need a 3rd party approval to begin the cleaing...
2) The lifts get should be centrally controlled which will help all of us cut down on the wait time for the lifts.
3) We should put pressure to form an OA immediately so that we can take control of things and make it better.

Hello, X1_Resident!

I am also a resident of X1.
It is really a shame that management is not taking any actions regarding the issues we have for long time now.
Window are horrible, we will not be able to see through them soon.
Not to mention lifts and swimming pool requests for a sunbeds, that they are promising for a long time now.
Do you have some suggestions what we can do about all of this?
I will be glad to participate.

Thanx for bringing this up.

X1_Resident

November 17th, 2011, 09:14 AM

Hi,
It would be great if there are more people along so we can all come together and speak to Imdaad(facilities management) to get these things organised immediately within a certain time frame and not just by saying will be done without any deadlines.Most importantly we should press for an interim OA to be formed immediately so that we can take control of manging the tower and make these changes immediately.The service charges are being taken for year1 and the services are not being provided the way it should be.Immediate action should be taken by all of us put together.
Let us all come together....

Gang2098

November 30th, 2011, 09:58 AM

Latest Update:

- Facade Cleaning starts tomorrow Thursday 1st Dec
(just in time before they take next year's service charges)

- The OA will start first week of Feb 2012.

-There are alot of pending issues:
-Lifts/Elevators not syncronized
-Reception Furniture/Decoration
-Swimming Pool sunbeds/umbrellas
-Signboard of Jumeirah Bay 1, 2, 3 on each tower
-Cats/rats in the parking area to be removed

plus more.........

X1_Resident

November 30th, 2011, 05:35 PM

Couldn't agree with you more.....We should make sure that all this pending work is carried out and the issues sorted out before we give our next yr's service charge.Everything should be in place before we hand over our 2012 service charges.The OA once formed will help all of us sort these issues immediately....

smurf27

December 1st, 2011, 10:12 PM

X1_Resident

December 3rd, 2011, 05:03 PM

I am also resident in X1, the time wasting by Imdaad is stupid. Too many issues to mention, I believe that all owners should withhold next years fees until developer delivers on what they promised. lobby completed, pool area finished. And cleaning crew improved, we need to get the owners association set up and be rid of Imdaad, they are useless

You are absolutely right....We(all owners) should get together and make these things happen....The OA should be setup at the earliest and all these issues should be raised immediately by the OA and sort it out before moving forward.

MacroOAM

December 4th, 2011, 06:51 AM

Dear Jumeirah Bay Interim Owners Association,

The purpose of this post is to introduce my organization, Mace Macro Owner Association Management (Macro OAM), to you. We are a professionally licensed provider of Owner Association Management services with our headquarters based in Dubai.

Our primary purpose as an owner association management company is to assist in the administrative, financial and technical affairs of the owners association; our services include:

Administrative Management
- Prepare and issue notices for Annual General Assembly and Extraordinary Assembly meetings
- Assist with preparation of Agenda, voting papers and other forms required during General Assembly
- Distribute minutes of the annual General Assembly
- Prepare and issue notices of Owners Association Board meetings
- Prepare and issue notices to Owners regarding compliance with Owners Constitution
- Attend to the instructions of the Owners Association Board
- Maintain records for Owners Association as required under Jointly Owned Properties law
- Maintain records of notices served, minutes of meeting, Owners Constitution, by-laws and other applicable resolutions
- Refer all applications, correspondence, inquiries, complaints and requests for information to the Owners Association Board for its consideration and action
- Follow established and agreed procedures for obtaining authority and instructions from the Board and promptly comply with instructions received from the Board
- Update all relevant information onto online community web portal for online access to owners and residents

Financial Management
- Assist Owners Association Board with preparation of draft budgets for general and reserve funds
- Prepare annual statements of accounts in respect of each financial year
- Facilitate payment of service charges with respect to each Owner's entitlement
- Facilitate payment of insurance premiums and any other financial obligations of the Owners Association
- Management of accounts payable and receivables of all income and expenses against general and reserve funds

Facilities Management
- Prepare request for proposal for tendering of supply agreements with service providers for facilities maintenance services and insurance protection;
- Assist with evaluation of supply agreements between owners association and service providers
- Supervise and monitor service provider performance against key performance indicators and contractual obligations
- Provide a Computer Aided Facility Management (CAFM) system that supports a 24/7 helpdesk service for all reactive and emergency matters
- Manage an effective maintenance plan through long term planning with an emphasis on reducing operating costs
- Manage the delivery of all property and community related services for all common area facilities
- Prepare specifications and standard operating procedures for all service providers
- Provide health & safety specialist advice on all operational matters
- Provide technical advice and guidance on all building and property related matters
- Prepare life cycle costing and reserve fund assessment
- Provide project management support and control for association activities
- Propose energy management and environmental management plans with the aim of reducing operating expenses

As an association management company, one of our main goals is to 'make a difference' in your community by adding value to areas where others don't. We would be pleased to meet representatives of the Owners Association to explain how we can add value to the Jumeirah Bay community.

Please let us know if you would like to learn more about how we can be of assistance and we will gladly attend a meeting at a time of your convenience.

Kind regards

Roger Ghandour
Director of Association Management
Mace Macro Owner Association Management
PO Box 28654, Dubai, UAE

t: +971 (0)4 339 7958
f: +971 (0)4 339 7957
m: +971 (0)50 812 1027
h: +971 800 MACRO (62276)
http://www.macemacro.com