#COMPLETED: OCEAN HEIGHTS, 82F Res, 310m [Archive] - Page 6

Hanna

December 31st, 2007, 11:12 AM

Damac have made the list yes for new projects from the 28th Dec they have been exempted from all of there previous launches up till the 28th Dec my Dubai source informed me of this.They didn't have the funds to cover their mass portfolio of myths.

If you need this in writing that Damac have been exempted on old launches I suggest clients write to the Customer service Dept and
get them to verify this is the truth.

This is the part I was concerned about please read below about the part that some big companies have been exempted.I have been told that Damac is one such company.What a cop out the Goverenment have changed the rules
to suit them already can you believe it! I think Damac have thrown there money around in so many countries they can't have enough to cover the all there launches in Dubai,they must have told the Goverenment this and they have decided to exempt them because of their high profile in Dubai this is the only logical answer I can think of.

About 400 real estate developers have been officially licensed by the Real Estate Regulatory Agency (Rera), paving the way for greater transparency and security for property investors in Dubai.

“Investors, who deal with any company not licensed by Rera, would be solely responsible,” he said. “Rera studies each case in depth before granting them a licence.” However, he said some companies and projects have been given special permits that exempt them from opening escrow accounts.

“Big companies that enjoy good reputation and have strong guarantees have been exempted,” Rera said

plotman

December 31st, 2007, 12:56 PM

That last line is very strange, bearing in mind Nakeel are on the list.

Hanna

December 31st, 2007, 01:11 PM

That last line is very strange, bearing in mind Nakeel are on the list.

Hi plotman

I agree with you its strange allright when I was told that Damac has got an excemption for all there previous launches I was dumbfounded to say the least it means the law has been sullied before it is even started,only because some big companies have not got the funds in place to put in escrow accounts its a sick joke and Dubai will suffer when all the questions are asked in the very near future its totally mad what has happened. :cheers:

Hollie Maea

December 31st, 2007, 05:32 PM

Hanna

December 31st, 2007, 05:53 PM

Come on guys, this is no big surprise. Laws like this ALWAYS have "grandfather clauses" no matter what country makes them. It would be disastrous for them to demand that ex post facto changes to funding models be made on existing projects. When, for instance, Damac launched Ocean Heights, they of course didn't anticipate that the money would be required to go into escrow, so based on that assumption they would spend their money accordingly. To give an analogy, lets say that there was a 1 million dollar lottery that was tax free, but the government changed it to say that $250,000 of it had to be paid in taxes. That would be fine; people who won it would pay their fee and keep $750,000. But if they went looking for people who won it 15 years ago and demanding $250,000 from them, it wouldn't work--the money would be long gone because they never anticipated they would have to give it back.

If RERA demanded that money for big projects that have been in the pipelines for a long time be handed over after the fact into escrow, a lot of projects would go belly up--and not just for Damac--leaving people like Hanna howling even louder. What the law WILL do though, is prevent the developers from just launching project after project in a pyramid structure to pay for the old ones.

If I were an investor in this project, I would just be glad that at this point that unlike about 6 months ago, it looks like this building will actually be built. Very late, but not never. But I certainly wouldn't have had any delusions that somehow Damac would "unspend" money that had been paid to them over the past 3 years and put it in escrow.

Do you think I had in any delusions about Damac joining up no chance I new from the start along with a lot of other bloggers what they were up to.They kept telling the papers how much Zillions they were worth so in essence they should put all the projects they have into escrow.We will see much 'howling' you do when your project gets finished.

Please when you chose to comment keep my name out of it,I was alerting people that thought because there was a list everything was hunky dorea which it is not the case smart arse.:ohno:

What the law WILL do though, is prevent the developers from just launching project after project in a pyramid structure to pay for the old ones. A LITTLE BIT LATE FOR THAT WITH DAMAC THATS LAUNCHED MORE PROJECTS THAN JOHN BROWN SHIPBUILDERS.

P.S

I think you will find out escrow has been talked AND PLANNED for a very long time 'its not new' like your brain.

Morrismarina

December 31st, 2007, 06:04 PM

Come on guys, this is no big surprise. Laws like this ALWAYS have "grandfather clauses" no matter what country makes them. It would be disastrous for them to demand that ex post facto changes to funding models be made on existing projects. When, for instance, Damac launched Ocean Heights, they of course didn't anticipate that the money would be required to go into escrow, so based on that assumption they would spend their money accordingly. To give an analogy, lets say that there was a 1 million dollar lottery that was tax free, but the government changed it to say that $250,000 of it had to be paid in taxes. That would be fine; people who won it would pay their fee and keep $750,000. But if they went looking for people who won it 15 years ago and demanding $250,000 from them, it wouldn't work--the money would be long gone because they never anticipated they would have to give it back.

If RERA demanded that money for big projects that have been in the pipelines for a long time be handed over after the fact into escrow, a lot of projects would go belly up--and not just for Damac--leaving people like Hanna howling even louder. What the law WILL do though, is prevent the developers from just launching project after project in a pyramid structure to pay for the old ones.

If I were an investor in this project, I would just be glad that at this point that unlike about 6 months ago, it looks like this building will actually be built. Very late, but not never. But I certainly wouldn't have had any delusions that somehow Damac would "unspend" money that had been paid to them over the past 3 years and put it in escrow.

I agree entirely, my reasoning was exactly the same when they announced that the escrow law would be retrospective. However is it fair that the smaller developer has to comply retrospectively, no doubt giving them a headache in many cases for all the reasons you've stated, whereas Damac is given preferential treatment ??

Hanna

December 31st, 2007, 06:15 PM

I agree entirely, my reasoning was exactly the same when they announced that the escrow law would be retrospective. However is it fair that the smaller developer has to comply retrospectively, no doubt giving them a headache in many cases for all the reasons you've stated, whereas Damac is given preferential treatment ??

Hi Morris

That is my point exactly why are they protected as much because they have major contacts in the Government and can sway changes in the law to suit themselves and they think this a fair system 'it's a sham, an out an out sham' thats is what RERA is.:cheers:

When the rest of the developers see how some get exemptions and they don't the system will fall on it's proverbial ass.

Here is a question how much zillions has a developer to be short to get this special excemption license ! the funding system is in a mess in Dubai and they have opened up a can of worms and this is the reason for some jiggery pokery with the rules you can dress it up as much as you like this is the truth of the matter they have created a monster.

All I am doing is stating the bare facts I have gathered. I am interested in a fair system and truth about all of it not only my own interest's
but as the old saying goes you always get one !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! H M

Hollie Maea

December 31st, 2007, 06:52 PM

Please when you chose to comment keep my name out of it

:hilarious Ok, I'll keep the in mind, He Who Must Not Be Named. (yes, I'm a smart arse...sorry :lol:)

By the way, I agree with Morris; all developers should have been given grandfather clauses. Hopefully none of the smaller projects will end up being shuttered because of this...

Hanna

December 31st, 2007, 07:01 PM

:hilarious Ok, I'll keep the in mind, He Who Must Not Be Named. (yes, I'm a smart arse...sorry :lol:)

By the way, I agree with Morris; all developers should have been given grandfather clauses. Hopefully none of the smaller projects will end up being shuttered because of this...

Hi Hollie Maea

You can comment if you want if it is usefull and productive. I don't think it
was justified to have a go at me for stating some facts that I went to the effort of gathering for the forum. :cheers:

Morrismarina

December 31st, 2007, 07:10 PM

Ok guys now please kiss and make up................:kiss:

:lol:

Hanna

December 31st, 2007, 07:37 PM

[QUOTE=Morrismarina;17416089]Ok guys now please kiss and make up................:kiss:

Hi Morris

Happy New Year to EVERYBODY ! :cheers: :cheers: :cheers: :cheers:

Hanna

January 1st, 2008, 10:11 AM

Hi Morris

I hope you had a nice New Year party or celebration last night !

What is your prediction for the future as far as the discredited Escrow
law is concerned.Some people now know there have been secret deals
done in the background at RERA with all these excemptions licence's
handed out to all and sundry (which we may never find who get them) due
to no free press.

What got me riled was the way they done it and introduced it to the people
Rera knew that 99% of the developers did not have the funds to put in an
escrow account, so they conned the buying public for over a year to invest
in Dubai with the promise that all the developers would need to adhere to the
new rules,so there must have been thousands of clients bought property in Dubai on the strength of the decree.Nobody will tell me RERA did not know after all there consoltations before hand that 'hey' we just found out these big shot developers have thrown there money around like confetti and they cannot fund each and every project.So when the shit hit the fan RERA announces special excemption certificates to anyone that needs it.

This casts a bad light on Dubai as far as new laws are concerend how can you trust anything they say now.

The way I see it is yes the developers have licence's after 28.12.07 and yes they are tied to a bank with escrow looks good doesn't it.Now you may ask what about pre 28th Dec well who cares all the deposits where taken and all the people signed up through the developers job well done they would say,but protection forget it with this exemption Cert they can get lost.
So in essence the way they have done it seems the clients have been hoodwinked by the Government and RERA and the developers.

Damac was never going to sign up to pre-anything they launched, they couldn't because they have no funds in place this was the main reason for the get-out clause excemption cert.So I get back to my point why all the lies to to the people in the first place when it could not work with all there mass launches.

Its a bloody con trick from start to finish and there must have been lots of clients fell for it.I just hope for all of the people that everything works out ok and they get what they paid for,if not the Government should set up a safety net and help the people who fell for the con trick if any developer goes down the pan.:cheers:

P.S

What I would like to see is a list of Developers and a list of there buildings that are protected by Escrow law and then the seperate list of developements that are exempt then you will see a true state of affairs in Dubai.

Morrismarina

January 1st, 2008, 11:28 AM

Hi Hanna,

Happy New Year to you as well. I've been full of colds and flu the last few weeks so had a quiet night in.

I agree with everything you say about the RERA fiasco. There are a few issues here IMO:

1. Developments already launched - so we know that no funds will go into escrow. This affects those who have already paid funds to Damac (such as your good self) and we do not know what protection will be afforded. They mention some kind of "guarantees" but I reckon this will be nothing of substance. What they need to do is provide a 100% guarantee backed up by the Dubai Government but I doubt this will happen and the guarantee will be just a few words on paper, nothing specific, only what we have now.

2. However this will also affect future sales as of course not all Damac projects launched so far have completely sold out, some launches are so recent that there must be many thousands of units left. So new buyers may be very wary as there will be no escrow in place. For example lets say somebody was daft enough this morning to pay the asking price for an apartment in Ocean Heights 2 - now as this is an exempted development, there will be no escrow in place, so if it was me I'd certainly want to know what protection I was going to get. Just a few words here and there about the developer being "reputable" is not going to sway me to buy, not when I can go to another developer and be assured of my funds going into an escrow account. So although Damac have launched many, many projects already are they going to sell without escrow in place ??

3. New launches after 28th December for exempted developers, these have to have escrow in place. But why ?? Based on RERA's logic these exempted developers are of such standing and reputation that there is no need for escrow. So why then are they insisting on it for anything launched 28th Dec onwards ?? Does not make sense. Double standards !!

4. I can understand somebody in your position Hanna being very annoyed over all this. The funds you've paid for OH should be now transferred to an escrow account but you're not going to get this now. I doubt the comfort of knowing that Damac are "reputable" will in any way make up for this. You've been let down badly here by RERA.

5. The part I don't like is that RERA have not published the names of the exempted developers. Why the hell not ?? They obviously think this is disadvantagous to the developer. They should at least come clean and tell us who they are.

6.There is no "red list" this was just a figment of RERA's imagination. :bash:

7. On a positive note I think you're fairly safe with OH given that they are making very good progress here. This will be Damac's flagship development and they'll certainly want to get it completed quickly and to a very high standard, to encourage more sales elsewhere. I can't see you having a problem as Damac as this point in time must be awash with funds, having taken in so much for all their projects and only really spent on adverstising so far.

Hanna

January 1st, 2008, 11:46 AM

Hi Hanna,

Happy New Year to you as well. I've been full of colds and flu the last few weeks so had a quiet night in.

I agree with everything you say about the RERA fiasco. There are a few issues here IMO:

1. Developments already launched - so we know that no funds will go into escrow. This affects those who have already paid funds to Damac (such as your good self) and we do not know what protection will be afforded. They mention some kind of "guarantees" but I reckon this will be nothing of substance. What they need to do is provide a 100% guarantee backed up by the Dubai Government but I doubt this will happen and the guarantee will be just a few words on paper, nothing specific, only what we have now.

2. However this will also affect future sales as of course not all Damac projects launched so far have completely sold out, some launches are so recent that there must be many thousands of units left. So new buyers may be very wary as there will be no escrow in place. For example lets say somebody was daft enough this morning to pay the asking price for an apartment in Ocean Heights 2 - now as this is an exempted development, there will be no escrow in place, so if it was me I'd certainly want to know what protection I was going to get. Just a few words here and there about the developer being "reputable" is not going to sway me to buy, not when I can go to another developer and be assured of my funds going into an escrow account. So although Damac have launched many, many projects already are they going to sell without escrow in place ??

3. New launches after 28th December for exempted developers, these have to have escrow in place. But why ?? Based on RERA's logic these exempted developers are of such standing and reputation that there is no need for escrow. So why then are they insisting on it for anything launched 28th Dec onwards ?? Does not make sense. Double standards !!

4. I can understand somebody in your position Hanna being very annoyed over all this. The funds you've paid for OH should be now transferred to an escrow account but you're not going to get this now. I doubt the comfort of knowing that Damac are "reputable" will in any way make up for this. You've been let down badly here by RERA.

5. The part I don't like is that RERA have not published the names of the exempted developers. Why the hell not ?? They obviously think this is disadvantagous to the developer. They should at least come clean and tell us who they are.

6.There is no "red list" this was just a figment of RERA's imagination. :bash:

Hi Morris

I hope you get better soon mate.

Thanks for your thoughts in the matter I am 100% in agreement on your above points could not put it more eloquently if I tried.My heart is lifted that you have seen through their subterfuge as well, I thought I was the only one that seemed concerned about it.I bet a lot of people will not have heard anything about the above, only because there is no free press in Dubai and nobody in there right mind would write about there shady dealings.I am afraid it is all down to buyers beware and will need to be cautious on who they deal with in the future (thats funny I think that is what RERA warns you) Hypocrites thats what they are.

Thanks for your concern over my purchase with Damac and Ocean Heights I will do a couple of prayers every week and hope for the best that's all I can do with this mob of Bengal Chancers. I agree with your point I should be ok as far as Ocean Heights is concerned but I am not only thinking of myself its all the others that are caught up on this false promise,this is the reason I chose to write these things and if I can warn even 1 person to be wary then I think its been worth while.:cheers:

GoDubai!

January 1st, 2008, 01:56 PM

The new escrow law should never have indicated or suggested that already started projects would have to follow the new rules. As some of you have pointed out, this could damage the prospects of projects getting completed that had not anticipated or planned for such a funding mechanism. Instead of offering protection to buyers, this would have made it more likely that projects already started might never reach completion. On the other hand, some sort of escrow system should have been phased in for existing projects whereby future payments would be guaranteed to some extent.

Another thing weird about the escrow law is its requiring funds be held in banks and only released to the developer once a project has been completed. All investors really need is a guarantee that funds paid will only be used for the specified project and not funneled into a general account. It does no one any good, except the banks, the buyers payments sit in banks until the projects are completed. To do that would surely wreck the prospects of projects being completed.

The RERA thing is just off the mark and so they compensate by totally exempting companies. The MAG developer was often quoted in the media expressing support for the new escrow law, but when I asked them about whether it would be introduced for the only 10% completed MAG 218 Tower, and they responded, "What escrow law, don't know anything about it." Apparently, they too have been exempted from the requirement on the MAG 218.

As I said, all we needed is a guarantee that funds paid would be spent on the named project and nothing else. If the law went this way then its immediate total implementation would really benefit the investor. Damac would not have to account for already squandered funds, but they would at least have to use any new payments properly.

GoDubai!

January 1st, 2008, 08:48 PM

This is how it ought to be done... from an RAK thread (http://www.skyscrapercity.com/showpost.php?p=17231670&postcount=66):

With Blu Mirage, investor's money will be held in an Escrow account and can ONLY be used for the building. The money is not held until completion, it is released in stages to the developer. e.g An amount is released for the foundations of the building, this work is inspected by the Escrow account manager and signed off. Only when the sign off is completed will the next amount be released. This Escrow account is also included as a pre-requisite in the contract with RAKIA/RAKEEN so will be monitored by them.

AltinD

January 1st, 2008, 10:07 PM

I don't know what these long posts are all about but DAMAC is on the green list of RERA so they are registered for the Escrow account.

Morrismarina

January 1st, 2008, 11:10 PM

I don't know what these long posts are all about but DAMAC is on the green list of RERA so they are registered for the Escrow account.

Altin, yes you're right they are registered with RERA but are one of the developers that have been exempted from the escrow account requirements. So they do not have to place investor's funds into escrow.

Hanna

January 2nd, 2008, 12:07 AM

Altin, yes you're right they are registered with RERA but are one of the developers that have been exempted from the escrow account requirements. So they do not have to place investor's funds into escrow.

Hi Morris

You are correct they have got a licence for all 'new projects' after 28.12.07
all the rest have been exempted.All new money from this year goes into an escrow account.
I thought our long posts explained that AltinD.:cheers:

Dubai_Steve

January 2nd, 2008, 12:41 AM

Why were Damac exempt from the Escrow regulations ?

AltinD

January 2nd, 2008, 12:57 AM

^^ Maybe they provide catering to RERA's cafeteria. :dunno:

Hanna

January 2nd, 2008, 09:18 AM

Why were Damac exempt from the Escrow regulations ?

Hi

Because they don't have the funds for the 1000 launches they have done (ok a wee bit of an exaggeration ) all there new launches will be covered by the new escrow law because they managed to get a 'get out of jail' card from there friends at RERA and the Government.:cheers:

Hanna

January 2nd, 2008, 09:31 AM

Hi Morris

Could you please send me a test message to my private mail at your convenience, I want to send one back to you to see if it works from my end ! :cheers:

DUBAI INVESTOR

January 2nd, 2008, 07:58 PM

Hi all,

How do we know for a fact that all Damac's projects prior 28/12/07 where exempt ? Is that coming from RERA or Damac ?

Does it mean that anything Damac launched prior 28/12/07 are exempt, eg Ocean Heights ? Or will remaning payments on Ocean Heights be directed into an escrow account dedicated to Ocean Heights ?

And looking at the RERA list, how do I know which companies are "exempt" on that list ? Thought any company on that list was "green"....

Ocean Heights, 3 bed, 17th floor. Inshallah.

Morrismarina

January 2nd, 2008, 08:39 PM

Hi Morris

Could you please send me a test message to my private mail at your convenience, I want to send one back to you to see if it works from my end ! :cheers:

Message sent, hope it works. Kind regards Morris.

Naz UK

January 2nd, 2008, 08:58 PM

Hi Morris

Could you please send me a test message to my private mail at your convenience, I want to send one back to you to see if it works from my end ! :cheers:

That's exactly what I said to my wife when I first asked her out back in the days! Works every time!

bizzybonita

January 3rd, 2008, 08:42 AM

in arabic mean (maqaazalah ) yea it's alawys work lol.. old one ;)

Imre

January 4th, 2008, 11:39 AM

04/January/2008

Ocean Heights

http://img172.imageshack.us/img172/1950/imresolt100wd3.jpg (http://imageshack.us)

http://img172.imageshack.us/img172/4889/imresolt095wd5.jpg (http://imageshack.us)

http://img172.imageshack.us/img172/1756/imresolt099la5.jpg (http://imageshack.us)

Hanna

January 4th, 2008, 12:11 PM

[QUOTE=Imre;17477105]04/January/2008

Ocean Heights

Hi Imre

Thanks for the shots :cheers:

biyadoo

January 4th, 2008, 07:19 PM

Hello all

I am one of the lucky people :) who have invested in Ocean Heights and have been following this forum for a while. I appreciate everyone's contribution, starting with Imre of course. :)
To make it clear, I am not a blind Damac supporter neither do I hate them, and I share people's concerns and critisim for how they handle projects. (Although everyone seems to agree that currently the progress is quite good.)

I have a question about a relatively unrelated topic:
According to the safety record, the total manhours completed on December 6th was 360,650, and on January 5th it was 467,300, the difference is 106,650. This makes 106,650/29=3677 manhours per day (assuming working every single day). Assuming at most 15 hours per day this makes 245 people working on the site simultaneously on average every day.
Is this realistic for a project of this size?
I am hoping someone with a bit of construction background can help here.

:cheers2:

GoDubai!

January 4th, 2008, 09:07 PM

I never believe these kind of numbers. They are so easy to play with and manipulate. Those who advertise them know every trick in the book to use such numbers to make their operations look, not good, but perfect.

GoDubai!

January 4th, 2008, 09:13 PM

Let me elaborate a bit. I worked for a while in the oil/gas industry. The company I was involved with endlessly reported their beautiful LTI stats. Millions upon millions of man hours with no LTI, stretching years. Now the fact is people got sick or injured all the time, but there were so many ways to nonetheless keep the record spotless. In most cases the accidents only happened to those who were contracted, so they didn't actually work for the company. At the end of the day, I just found such stats totally meaningless.

Morrismarina

January 4th, 2008, 09:24 PM

biyadoo

January 4th, 2008, 10:38 PM

Thanks GoDubai. This is what I have suspected as well.
I was also a bit suspicious about the total manhours, but maybe they know that people don't pay too much attention to those numbers so they just make them up too. :dunno:

Morris, I think you might be joking but there must be quite a few resale properties around if you really wanted. ;)

Salameer

January 4th, 2008, 11:32 PM

Progress here is fantastic, fair play to Damac they have employed a great contractor here. Dare I say it........I sometimes wished I'd bought here now. Design wise it is my favourite tower........after Infinity. :)

After NAZ-UK, another DS investor eating humble pie?

Speculation about Escrow accounts, exemptions, red lists, green lists, blah blah blah...., seems like people have nothing else to comment on.

How about appreciating Imre and AltinD for their pictures?

The bottom line is ....Progress here is fantastic
:cheers:

bizzybonita

January 5th, 2008, 12:04 AM

bi turbo progress !! wow with 6 cylinder W shaped core ...

thedubailife

January 5th, 2008, 12:47 AM

I think we have to acknowledge that since Arabtec been on site progress has speeded. Good to see some progress at last. Just Hope Arabtec can do the same for Infinity.

Morrismarina

January 5th, 2008, 01:13 AM

After NAZ-UK, another DS investor eating humble pie?

Speculation about Escrow accounts, exemptions, red lists, green lists, blah blah blah...., seems like people have nothing else to comment on.

How about appreciating Imre and AltinD for their pictures?

The bottom line is ....Progress here is fantastic
:cheers:

Thank you Altin and Imre for your pictures. :)

I'm not sure I'm eating humble pie, I just like to be honest in my posts which some people have taken wrongly in the past to be contradictory. I have to give credit where it is due, like the construction progress here. How could I say otherwise ? I'm not going to criticise Damac when they're clearly doing well here, that would be just plain stupid of me. I've said many times before on this thread that I love the design of Ocean Heights, by far the best in the Marina after Infinity. Given the fast rate of progress here, they're virtually at ground level already, I'm beginning to think now that it may well be one of the first towers in the supertall block to be completed. I'd be genuinely really pleased for all Damac investors and when this one's finished I'm sure they'll have a fantastic return on their investment..........it really will be a stunning tower and as a lover of supertalls I can't wait to see it. BTW I went in The Waves last year and I thought the quality was very good. :)

biyadoo

January 5th, 2008, 02:12 AM

I agree with Morris, design was the most important factor for me to choose Ocean Heights. When I bought the apartment I knew it was more expensive per sqft than others (OK maybe I was too naive :) )

On a side note I don't have an architecture/construction background but ever since finding these forums I have started to get interested in architecture (as an amateur observer). I think that Ocean Heights will be quite interesting to see being built because it has such an unusual design and when the shape will start to show it will be awesome. :banana:

Well I have to add, fingers crossed... ;)

evoorhees1

January 5th, 2008, 06:00 PM

Hey all,

I just moved into Marina Crown on the Ocean Heights side. I plan to take pics of the construction progess every so often, but if anyone needs a specific photo of the site or the surrounding area at any time, just let me know I'll be glad to help.

It seems like progress is fast on the site now, there are never less than 100 men working... at all hours of the day! Thank goodness my apartment is well sound-proofed =)

Ocean Heights will damage my view, however, so perhaps I'll start throwing rocks down at the workers to delay them...

Naz UK

January 5th, 2008, 10:13 PM

I'd like to remind everyone when this tower was first launched, why I recall my first encounter with an overly-eagar Indian Damac agent virtually spitting his bad accent in my face as he desperately tried selling me something in Ocean Heights around Nov. 2004.

Humble pie? I always said i liked the tower and above all its location. Just hate the developers selling tactics, arrogant attitude and over all modus operati. :)

AltinD

January 5th, 2008, 10:16 PM

^^ And that was the current design, the first (previous) one was a 50 floors tower. :D

biyadoo

January 6th, 2008, 12:36 AM

^^ Hi Erik, many thanks for the offer, and I hope you enjoy your new apartment. :)
Would you be able to take 2 photos one at night, one during the day, on a workday?
I was wondering about the distance between Marina Crown and Ocean Heights, another photo giving some idea would be very helpful. My apartment will also partially look towards Marina Crown, with an angle (front of the building but OH is twisting towards Marina Crown). I think there is a road in between.
:cheers2:

DUBAI INVESTOR

January 8th, 2008, 03:04 PM

With regards to Damac's compliance or non compliance on Dubai's new escrow account law, I decided to call them yesterday.

Previous posts in this thread have varied between Damac being excempt to Damac approved as they are in RERA's list on RERA's website.

Damac's customer relations people stated they have no info on any escrow law. Advised me to call the accounting department. On getting thru to accounting department I was informed that Damac is still in process of finalizing their escrow accounts and it should be ready "soon" and that any payments due should be paid to Damac directly as done previous ! The man I talked to in accounting admitted that Damac has yet to get any escrow accounts set up for any of their Dubai projects !

I am backing up this post by asking anyone who wants Damac status on the escrow law to call Damac on +971 4 3322005. I got my info thru a Mr Beo in their accounting department.

Or why not write or call Alan Gammon and ask for Ocean Heights ecrow account number and with what bank ?

The Escrow Account law is Dubai law and I am sure that anyone invested with Damac or considering investing with Damac would like to know that their investment is secure and Damac compliant with local laws.

Dubai_Steve

January 8th, 2008, 03:13 PM

Damac are approved by RERA but are exempted from escrow (as a special case).

Perhaps Damac will eventually setup escrow for some or all of their developments in Dubai.

Naz UK

January 8th, 2008, 03:55 PM

:cough: bribery :cough:

mackie1964

January 8th, 2008, 04:04 PM

You need to go and see a doctor about this cough Naz, you had it now for few years :lol:

DUBAI INVESTOR

January 8th, 2008, 04:40 PM

Damac are approved by RERA but are exempted from escrow (as a special case).

Perhaps Damac will eventually setup escrow for some or all of their developments in Dubai

Where you get this info ?

Naz UK

January 8th, 2008, 05:24 PM

www.scams.com? :dunno:

Imre

January 8th, 2008, 05:37 PM

the core above the ground:)

bizzybonita

January 8th, 2008, 06:45 PM

ohhh yea that's what iam talkin about speeeeeedy progress ...

Dubai_Steve

January 8th, 2008, 07:12 PM

Damac are approved by RERA but are exempted from escrow (as a special case).

Perhaps Damac will eventually setup escrow for some or all of their developments in Dubai

Where you get this info ?

http://www.dubaichronicle.com/2007/12/rera-issues-first-list-of-registered.html

Some firms were exempt from the Escrow accounts requirement by granting them special permissions.

Naz UK

January 8th, 2008, 07:53 PM

ohhh yea that's what iam talkin about speeeeeedy progress ...

2004-2008 to get the core above ground. Speedy?

Imre

January 8th, 2008, 08:02 PM

^^

that is no progress:)

but if we see that the Arabtec started just in July 2007, that is very good progress.

20/July/2007

Ocean Heights

Arabtec has arrived:)

http://img507.imageshack.us/img507/2337/imresolt120mf2.jpg (http://imageshack.us)

Salameer

January 8th, 2008, 10:53 PM

www.scams.com? :dunno:

Boy, you've got some balls to harp on about Damac1 That ship sailed a long time ago.
You just need to see what Damac is doing compared to your (dare anyone say anything bad about) Dubai Select. :kiss:

Bets are on - OH will be completed before TT. :lol:

Naz UK

January 9th, 2008, 04:25 PM

^^ :lol:

C'mon mate, don't make me laugh, i'm at work! What if my boss sees me?

AltinD

January 9th, 2008, 04:56 PM

^^ I thought you're the boss over there, or so you said .... even if not, can't you tell him/her that Joane of the culinary rubric cracks you up with her description of spicy shrimps masala cooking technique. :dunno:

Dubai_Steve

January 9th, 2008, 08:03 PM

You need to go and see a doctor about this cough Naz :lol:

Perhaps he visited True Blue at his apartment :runaway:

evoorhees1

January 9th, 2008, 08:43 PM

Hi Biyadoo,

Sorry for the delayed reply. I just took two photos for you... but I don't have a web image account to upload them to. What is the best choice to upload pics to this site... anyone?

The distance between MC and OH is pretty good, considering the distances between all the other huge towers going up here. There is indeed a road between MC and OH, whereas MC and Elite Residence (which is on the opposite side) are so close together they share their podium floors. When I bought this place I didn't realize that towers were going up so close together, so I'm pretty lucky I ended up on this side and not the opposite one =) On the opposite side of your building, Ocean Heights, the next tower is also very close... these babies are packed tight! If your apartment slants towards Marina Crown and faces the ocean... you will have a great view, no need to worry.

If someone lets me know about the best photo site to use with skyscrapercity i'll post photos for ya.

^^ Hi Erik, many thanks for the offer, and I hope you enjoy your new apartment. :)
Would you be able to take 2 photos one at night, one during the day, on a workday?
I was wondering about the distance between Marina Crown and Ocean Heights, another photo giving some idea would be very helpful. My apartment will also partially look towards Marina Crown, with an angle (front of the building but OH is twisting towards Marina Crown). I think there is a road in between.
:cheers2:

Blizzy

January 9th, 2008, 09:18 PM

What is the best choice to upload pics to this site... anyone?

www.imageshack.us

biyadoo

January 10th, 2008, 02:41 AM

^^ Thank you Erik. I really appreciate you for taking the pictures. :wave:

Imre

January 11th, 2008, 04:40 PM

11/January/2008

Ocean Heights

http://img175.imageshack.us/img175/85/imresolt23tj7.jpg (http://imageshack.us)

http://img299.imageshack.us/img299/3647/imresolt24hk9.jpg (http://imageshack.us)

Hanna

January 11th, 2008, 06:23 PM

[QUOTE=Imre;17632471]11/January/2008

Ocean Heights

Hi Imre

Thanks for the picts again

I take it they are up to road level now that is why it all barriered
of ! :cheers:

biyadoo

January 11th, 2008, 06:38 PM

Thanks Imre :wave:
Good to see that it is rising above the ground level :)
I think those structures are where they pour the concrete?

evoorhees1

January 12th, 2008, 02:50 PM

Here ya go... pics of OH from my balcony. (Click to view full image)

http://img183.imageshack.us/img183/808/dscn0175uy8.th.jpg (http://img183.imageshack.us/my.php?image=dscn0175uy8.jpg)
http://img85.imageshack.us/img85/2193/dscn0023po9.th.jpg (http://img85.imageshack.us/my.php?image=dscn0023po9.jpg)
http://img242.imageshack.us/img242/6758/dscn0182hs7.th.jpg (http://img242.imageshack.us/my.php?image=dscn0182hs7.jpg)

ZZ-II

January 12th, 2008, 02:56 PM

interesting, already the core has a curved shape :)

Hanna

January 12th, 2008, 06:43 PM

[QUOTE=evoorhees1;17653204]Here ya go... pics of OH from my balcony. (Click to view full image)

Hi evoorhees1

Thanks for the picts :cheers:

biyadoo

January 14th, 2008, 11:38 AM

^^ Absolutely brilliant! :applause: Thanks Erik :cheers2:

Imre

January 18th, 2008, 10:53 AM

18/January/2008

Ocean Heights

http://img297.imageshack.us/img297/5383/imresolt104vk4.jpg (http://imageshack.us)

http://img242.imageshack.us/img242/4857/imresolt105uc8.jpg (http://imageshack.us)

http://img182.imageshack.us/img182/4360/imresolt108nk8.jpg (http://imageshack.us)

Hanna

January 18th, 2008, 12:21 PM

[QUOTE=Imre;17784524]18/January/2008

Ocean Heights

Hi Imre

Great shots again :cheers:

biyadoo

January 18th, 2008, 12:46 PM

^^ Thanks Imre for the pictures :)
Is the core going up ~1 floor / week?

bizzybonita

January 18th, 2008, 02:10 PM

bizzy site ....

Hanna

January 22nd, 2008, 03:08 PM

Hi

Just read in Business 24/7 that Ocean Heights estimate for completion has
been moved to end of 2010 maybe even into 2011 what an age to complete
a building there will be many frustrated clients out there they must be like me sick of it to the back teeth with Damac.

It is due to be completed by the end of 2010 and the first tenants are expected to move in by the first quarter of 2011. :cheers:

Morrismarina

January 22nd, 2008, 03:53 PM

Well to be fair to Damac they are being honest about the completion date...........unlike some other developers I could mention.

rexdmx

January 22nd, 2008, 04:10 PM

^^ whoa..not bad coming from u...:D

Morrismarina

January 22nd, 2008, 08:21 PM

^^ whoa..not bad coming from u...:D

Thanks........ I've always been very disappointed about Tameer and their completion dates.:lol:

Hanna

January 22nd, 2008, 10:19 PM

Well to be fair to Damac they are being honest about the completion date...........unlike some other developers I could mention.

Hi Morris

I don't think they are fair, the completion date was moved from end of 2009 this was there third completion date what is fair about that ! :cheers:

Salameer

January 22nd, 2008, 10:34 PM

Hi Morris

I don't think they are fair they completion date was moved from end of 2009 this was there third completion date what is fair about that ! :cheers:

I know it is a bummer but it is a sad reality for us investors that Dubai can only build so much so quickly. If you are an investor with a long term view then you will do very well here.
In my view, this has to be a quality development which has to set the benchmark for OH2 else Damac will be in trouble.
:cheers:

nidoenator

January 23rd, 2008, 12:43 AM

From Emirates Business Section..............

The 83-storey building at the entrance of Dubai Marina has nine penthouses – five half-floor ones and four full-floor ones.

The Dh50 million apartment – the most expensive – is on the 83rd floor and is still waiting for a buyer. Measuring 3,050 square foot, it is a full-floor penthouse with a breathtaking view of the Arabian Gulf and The Palm Jumeirah.

The penthouses offer the ultimate in bespoke fittings – international interior designers Hirsch Bedner Associates created the contemporary look, with lavish features such as leather floors in the entrance to the master bedroom and marble floors elsewhere.

Buyers have the option of working with developer Damac’s interior designers to customise their home. For the main feature wall, buyers can choose their own artist to create a mural, with Damac covering the cost.

The penthouses cost almost as much as one of the smaller, cheaper islands on the offshore The World development, where prices start at Dh55m. But according to Damac’s Chief Executive, Peter Riddoch, the prices are reasonable by international standards.

“Even though these are not inexpensive, at Dh35 to Dh50m, a similar apartment in Tokyo, London or New York would cost you substantially more,” Riddoch told Emirates Business.

Penthouses such as those at Ocean Heights are in a league of their own, with the latest in smart technology, five bedrooms, a jet spa and a private lift lobby.

Riddoch said the technology system, which controls the temperature, security camera, lights and curtains, is just as important to tenants as the luxury interiors.

“What we’re finding is that they want luxury and luxury goes beyond just the fancy finish, it’s everything that sings and dances as well.”

So far, three of the full-floor penthouses have been sold and Damac is negotiating with investors who are interested in two of the half-floor ones. Riddoch would not reveal the nationalities of the buyers but said they were from the GCC and Europe.

“The interesting thing is the customers who we’ve already sold to or who we’re now in negotiation with are very, very varied.

“They’re from different parts of the world. A businessman who has bought from us is from Russia. He spends quite a lot of time here but his headquarters is still in Russia and he just wanted something different from staying in a hotel or serviced apartment.

“He wanted his own place and he’s actually – when he moves in – planning to use it as a combination office-cum-home.

“Then we have a GCC national who sees his apartment as something to use when he brings his family here. This might happen once a month, it might not happen for six months, but it’s theirs, that’s where they can go. So we’re talking to a variety of different people.”

The building has shared facilities such as a barbecue area, a jogging track, a juice bar and a health club. It is due to be completed by the end of 2010 and the first tenants are expected to move in by the first quarter of 2011.

How can this possibly be my contract says 2009 and this article states 2010-2011. I will be contacting my Lawyer first thing this morning they cannot move the goalposts every 6months and the Customer relations Department never say as much as by your leave its proposterous way to treat people that have waited as long. Why did the paper not pick on these things its common knowlege that it was supposed to finish in 2009.

Hanna

January 23rd, 2008, 08:17 AM

AltinD

January 24th, 2008, 12:28 AM

I've always been very disappointed about Tameer and their completion dates.:lol:

Completion date is irrelevant ... status of construction as on Feb 29th is.

DUBAI INVESTOR

January 24th, 2008, 09:27 AM

Hi nidoenator

You are 100% right to be angry with the chancers at this rate it's only a guess when it will be finished they have not got a clue ! I suppose everyone
will have to get compensated for this massive delay that is more expence to
the overall costs of the total build expenditure.Watch out for some cost cutting somewhere along the line.There should be severe Goverenment penalties for Companies like this 'hey its Dubai anything goes' as far as Damac
and the Goverenment are concerned.:cheers:

I doubt very much that Dubai goverment will start punishing developers for late completion dates and issue compensation to individual investors but its a nice idea ! The head of RERA, Marwan something, was on a local radio show stating that companies on RERA's "approved developers list" are not necessarily in compliance with the new escrow account/trust law ( every building needs an escrow account ) but that many developers are exempt but when pressed on why not publish a list on what companies are exempt so we know who to do business with, he declined to comment. I have it in writing from Damac that they are escrow excempt on any "historic releases", any projects launced prior to 2008.

I find RERA's position deplorable and it only sows more confusion and distrust into the market. And articles like the one quoted above by Nidoenator ( its from Business 24/7 actually http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=1250 ) is only PR drivel masking as news which is quite common here in UAE.

Hanna

January 24th, 2008, 10:10 AM

I doubt very much that Dubai goverment will start punishing developers for late completion dates and issue compensation to individual investors but its a nice idea ! The head of RERA, Marwan something, was on a local radio show stating that companies on RERA's "approved developers list" are not necessarily in compliance with the new escrow account/trust law ( every building needs an escrow account ) but that many developers are exempt but when pressed on why not publish a list on what companies are exempt so we know who to do business with, he declined to comment. I have it in writing from Damac that they are escrow excempt on any "historic releases", any projects launced prior to 2008.

I find RERA's position deplorable and it only sows more confusion and distrust into the market. And articles like the one quoted above by Nidoenator ( its from Business 24/7 actually http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=1250 ) is only PR drivel masking as news which is quite common here in UAE.

Hi DUBAI INVESTOR

I heard Damac were exempt well before the list of companies were published,this is the point I have been trying to make why have a body like RERA in the first place when they dish out exemption certificates to all and sundry make's no sense to me at all.Damac have used there powers in Dubai and there friends in high places helped them simple as that.RERA will not answer simple questions and they dare not publish the exempt list and then everyone would see what a joke RERA is.Dubai is trying hard to look above board but this proves they have a very long way to go 'it stinks'.:cheers:

Imre

February 1st, 2008, 11:08 AM

01/February/2008

Ocean Heights

http://img181.imageshack.us/img181/8349/imresolt092yv1.jpg (http://imageshack.us)

http://img406.imageshack.us/img406/1826/imresolt093la4.jpg (http://imageshack.us)

CIPUS

February 1st, 2008, 11:18 AM

Wow, it's growing!

bizzybonita

February 1st, 2008, 02:56 PM

this monster up ground ..wonderfull

rgarrison

February 2nd, 2008, 12:46 AM

fast!

Hanna

February 2nd, 2008, 10:18 AM

Hi

Aye fast alright new estimate to finish 3 years from now.:ohno:

mission

February 2nd, 2008, 10:52 AM

Hi

Aye fast alright new estimate to finish 3 years from now.:ohno:

Hanna i qoute 4 years from now

n7chap

February 2nd, 2008, 11:18 AM

Given the Lake Terrace delays I would say 5 years from now...

Hanna

February 2nd, 2008, 11:45 AM

Hanna i qoute 4 years from now

Hi mission

You could be right and the compensation package upgraded white goods
that were supposed to be the best in the first place.Tell me someone how
do you do an upgrade on the best ! :cheers:

Hanna

February 2nd, 2008, 11:46 AM

Given the Lake Terrace delays I would say 5 years from now...

I hope your prediction is wrong (I could be dead and buried by then) :cheers:

True Blue

February 2nd, 2008, 03:55 PM

Given the Lake Terrace delays I would say 5 years from now...

Different contractor here! Arabtec are one of the best in the region, if Damac keep them sweet this will be a good one.

AltinD

February 2nd, 2008, 07:26 PM

^^ Also Lake Terrace had a six month "tea break" after the first contractor was fired (or walked away) half-way into the job.

nidoenator

February 14th, 2008, 11:32 PM

They've plastered their names all over the UK and on the Asian Television network. They're sponsoring the the Zee 2008 Carnival at Olympia. They are the masters of hype and marketing all right.

:hilarious

Tag_one

February 16th, 2008, 10:57 AM

For those who missed Imre's update on Flickr:

http://farm3.static.flickr.com/2073/2266018651_86a6ce7e77_o.jpg

Hanna

February 16th, 2008, 12:47 PM

Hi Tag_one

Thanks for that :cheers:

RamonPouw

February 18th, 2008, 02:23 PM

They go fast!

Amazing project..

Imre

February 22nd, 2008, 04:58 PM

22/February/2008

Ocean Heights

http://img143.imageshack.us/img143/9057/imresolt010kt5.jpg (http://imageshack.us)

http://img156.imageshack.us/img156/4839/imresolt011su0.jpg (http://imageshack.us)

Hanna

February 22nd, 2008, 07:34 PM

[QUOTE=Imre;18595609]22/February/2008

Ocean Heights

Hi Imre

Thanks again for the excellent shots. :cheers:

LeMoN-SK

February 23rd, 2008, 02:36 PM

They go fast!

Amazing project..

If one level of core in ~50 days is fast then yes, they are very fast. :nuts:

Stephan23

February 23rd, 2008, 05:52 PM

Great progress here!!! Will be very interesting to see, if the core is higher!!! :eek:

Naz UK

February 24th, 2008, 09:18 PM

Higher than what? The amount of interest from investors in this tower?

bizzybonita

February 24th, 2008, 09:24 PM

nice freestyle shot !

bizzybonita

March 7th, 2008, 01:53 AM

Imre

March 7th, 2008, 12:13 PM

07/March/2008

Ocean Heights

http://img207.imageshack.us/img207/9219/imresolt132zr0.jpg (http://imageshack.us)

http://img142.imageshack.us/img142/4298/imresolt133xy5.jpg (http://imageshack.us)

evoorhees1

March 13th, 2008, 07:17 AM

There is no evidence of any slowdown on site that I can see from my deck. Still tons of workers there around the clock. New cement is being poured regularly and I believe the cement for the ground floor of the podium was poured this morning (they were smoothing it when I left for work).

I do have a question... how do the cranes grow? It's been bugging me and i'm sure it's a simple process, but if anyone could describe how it works I'd sleep better at night =)

Hollie Maea

March 13th, 2008, 07:35 AM

^^ Pics or it didn't happen. Just kidding...thanks for the info :cheers:

I've wondered about the crane thing too.

biyadoo

March 13th, 2008, 01:48 PM

^^ Thanks Erik, really appreciated. :)

Anjam

March 13th, 2008, 02:00 PM

^^ Pics or it didn't happen. Just kidding...thanks for the info :cheers:

I've wondered about the crane thing too.

^^ http://www.skyscrapercity.com/showthread.php?t=249236

Zollern

March 13th, 2008, 02:16 PM

Here's a short and simple demo of how a climbing crane is raised:

http://www.lcrgroup.com.au/zone_files/Media/climbtowercrane.swf

evoorhees1

March 15th, 2008, 09:11 AM

Here are the images I promised. As of now, the entire ground floor is filled with concrete and I can't see anything that's below surface level (these pics are 2-3 days old).

http://img253.imageshack.us/img253/5033/dscn0473jv6.th.jpg (http://img253.imageshack.us/my.php?image=dscn0473jv6.jpg)
http://img291.imageshack.us/img291/9435/dscn0453gw2.th.jpg (http://img291.imageshack.us/my.php?image=dscn0453gw2.jpg)

biyadoo

March 15th, 2008, 12:02 PM

Excellent pictures Erik, thanks! :banana:

IyadNYC

March 16th, 2008, 03:42 PM

Hi Everyone, Need a quick advice
I'm offered a one bedroom unit in the 5X floor (5x03) of Ocean Heights for the price of late 2006 (it's a debt re-payment...long story) but I need to pay the 3% transfer fee to Damac...
All in all, it'll be anywhere between 480,000USD and 500,000USD total

Is this a good deal? long term/short term? Any input/advice will be very much appreciated.

* I've never been to Dubai and really have no clue what things go for.

biyadoo

March 16th, 2008, 04:19 PM

Assuming the apartment is around 900 sqft, the price per sqft should be somewhere around 1800-1900 AED (Dirham). Usually people talk about AED/sqft in Dubai. This is probably more expensive than other towers in Dubai Marina, however OH has always been more expensive than others even when launched. And the recent launches in this area seem to be (as far as I know) approaching this price / sqft.

Location, design (most people agree that it has one of the best architectures in Dubai), and the main contractor (Arabtec, who also contribute to Burj Dubai) are the plusses.

Also, currently the construction has been progressing quite well with lots of commitment from Arabtec.

The tower has been delayed quite a while and this caused some grievance from some buyers (note that it is not uncommon with other developers in Dubai too).

In the short term, the price could go up a little more as the tower rises and also because of general price rises in Dubai. In the long term, this area (Dubai Marina, supertalls) should be one the prime areas in Dubai and should bring good returns.

Hope this helps. :)

Mavekris

March 19th, 2008, 08:29 AM

Any new pictures ?

Pls upload if you can.

Thanks

IyadNYC

March 19th, 2008, 05:43 PM

Thank you so much Biyadoo! Very informative and helpful indeed.

dubaiflo

March 21st, 2008, 02:46 PM

Ground floor! Can you believe it! Finally!

Now I am really curious to see how they gonna achieve the curve.

Stephan23

March 22nd, 2008, 12:28 PM

Where were you the last time Flo???????!!!!!!!!

dubaiflo

March 23rd, 2008, 05:15 PM

other priorities...

i try to catch up again on SSC.. but is hard :D

biyadoo

March 23rd, 2008, 06:07 PM

Some info on construction so far:

A typical floor plan for Ocean Heights:

http://img175.imageshack.us/img175/4968/oceanheightstypicalfloojg6.th.jpg (http://img175.imageshack.us/my.php?image=oceanheightstypicalfloojg6.jpg)

Compare this with Erik's pictures @ Post 1379:
http://www.skyscrapercity.com/showpost.php?p=19046355&postcount=1379

http://img253.imageshack.us/img253/5033/dscn0473jv6.th.jpg (http://img253.imageshack.us/my.php?image=dscn0473jv6.jpg)

I think the angled walls on the far side of the picture are the walls between units 01, 02, and 03 (correct me if I'm wrong).

The building is going to twist counter clockwise.

Therefore on the upper floors, the right side of the building (units 02 & 03 in the floor plan) will have a bit of sea view (not full sea view) towards their left. The front side (top of the picture) will look more towards the Dubai Promenade (with sea view).

(Note that the unit numbers vary for each floor. For example, the position of unit 08 on another floor may be different from 08 on one floor.)

Mavekris

March 24th, 2008, 03:11 PM

yes you are right 02,03 have no chance of sea view.

May be it will change one the halfway of the building.

Intresting and promising tower in marina :)

Mavekris

April 1st, 2008, 02:54 PM

New Construction update pics from damac website

http://img356.imageshack.us/img356/2791/200827622oceanheights42hr7.jpg

http://img509.imageshack.us/img509/6752/200827622oceanheights32wr1.jpg

http://img167.imageshack.us/img167/5738/200827620oceanheights22kt8.jpg

http://img526.imageshack.us/img526/1370/200827619oceanheights12eo8.jpg

Hanna

April 3rd, 2008, 03:27 AM

Hi All

I have a question for all you business people !

Now that Ocean Heights is well on its way skywards would i be right in thinking that Arabtech have got all there money paid up front or would they get it in stages of build.Could Arabtech hold them to the full contract if everything went tits up with Damac, the reason for asking is I have seen the other projects half built and then the company goes bust and there is no money to finish.What would happen then to the building and the project as a whole ! :cheers:

Mavekris

April 3rd, 2008, 01:49 PM

I doubt how long this will be survive?:ohno:

Damac heights owners need to pray that nothing comes up here

http://img99.imageshack.us/img99/4150/20080402011ve8.jpg

pic which i took yesterday

http://img187.imageshack.us/img187/2631/20080402008hi4.jpg

Stephan23

April 3rd, 2008, 05:54 PM

Little progress, not bad!! :okay: Thx for pics!!!^^

DUBAI INVESTOR

April 5th, 2008, 02:51 PM

No idea Hanna. Good question though.

Anyone ?

Hanna

April 5th, 2008, 03:16 PM

No idea Hanna. Good question though.

Anyone ?

Hi

I think its moved a smiddgen in height cannot realy tell about the area surrounding
the central core ! :cheers:

DUBAI INVESTOR

April 6th, 2008, 01:48 PM

Mavekris

April 6th, 2008, 02:02 PM

There are a lot of workers always on site.

Ocean heights and infinity are complex structures unlike ugly looking towers like TORCH,SULAFA,PRINCESS TOWERS,where all they have to do is build straight.

Yes but if arabtec can stop using the workers for personal use then tower will complete faster
http://img101.imageshack.us/img101/7088/20080402010bn9.jpg

Hanna

April 6th, 2008, 03:44 PM

[QUOTE=Mavekris;19479957]There are a lot of workers always on site.

Ocean heights and infinity are complex structures unlike ugly looking towers like TORCH,SULAFA,PRINCESS TOWERS,where all they have to do is build straight.

Yes but if arabtec can stop using the workers for personal use then tower will complete faster

Hi Maveekris

Yes but if arabtec can stop using the workers for personal use then tower will complete faster ( What do you mean) ! :cheers:

Hanna

April 6th, 2008, 03:51 PM

Yes it's moving in the right direction if ever slowly....at the rate of a floor a year :lol:

Beats Palm Springs though. But Palm Springs is a product of Damac which in turn is a product of a weak UAE legislative system which fosters a perfect murky and swampy enviroment where companies like Damac can breed in peace. RERA and their clown Marwan the icing on the cake. I am worried about the future of Dubai Real Estate market where I and many have substantial investments...

Hi DUBAI INVESTOR

I agree 100% with you comments above. I have been saying the same for a while now.

When Rera was set up and the first thing they done was to give excemptions
to Damac the writing was on the wall,because when you give one lot of
excemptions from the new law then you have to give the same deal to everyone so why have a law in the first place.Its like having an ashtray on
a motor bike Completely useless.:cheers:

Mavekris

April 6th, 2008, 06:25 PM

I pic which i posted shows ababtec worker cleaning the vehicle of arabtec executive:)

[QUOTE=Mavekris;19479957]There are a lot of workers always on site.

Ocean heights and infinity are complex structures unlike ugly looking towers like TORCH,SULAFA,PRINCESS TOWERS,where all they have to do is build straight.

Yes but if arabtec can stop using the workers for personal use then tower will complete faster

Hi Maveekris

Yes but if arabtec can stop using the workers for personal use then tower will complete faster ( What do you mean) ! :cheers:

Hanna

April 6th, 2008, 07:03 PM

[QUOTE=Mavekris;19483854]I pic which i posted shows ababtec worker cleaning the vehicle of arabtec executive:)

Hi Mavekris

Thanks for the reply and the info I will monitor same lol.

P.S

Please keep the picts coming I would be lost without you and Imre with
updates :cheers:

Mavekris

April 6th, 2008, 08:05 PM

Hanna

April 6th, 2008, 08:12 PM

Sure i will keep posting the pics :)

I dont have anything in this tower i give 5 out of 5 for this tower.

Location -- 5
Design -- 5
Contractor -- 5
Developer -- 2.5
you can condemn as much you can about the developer,but the architecture of ocean heights 1, 2 and lotus is amazing the best designs:)

Damac deserves 2.5 for this point.

I am really looking forward for this tower to take shape.

Opus is my fav in bussiness bay.:)

Hi Mavekris

I agree with your points grades except Damac I was thinking more on the line of a minus lol

And for the this tower taking shape i have to admit I am a bit more looking forward to it than you are ! :cheers:

Mavekris

April 13th, 2008, 12:44 PM

Any new pics ?:)

biyadoo

April 16th, 2008, 04:43 PM

Erik, Maverkris: any possibility of posting new pictures please? :)

CIPUS

April 16th, 2008, 05:42 PM

Erik, Maverkris: any possibility of posting new pictures please? :)

I'm afraid no pics antil IMRE is back!:ohno:

bizzybonita

April 17th, 2008, 01:42 AM

4F (podium level)

Mavekris

April 20th, 2008, 08:52 AM

Good progress and good commitment here:)

OH investors will start laughing very soon.:lol:

Lots of activity on OH 2 as well.:)

http://img210.imageshack.us/img210/8215/img0333zj3.jpg

http://img261.imageshack.us/img261/8233/img0334gj2.jpg

http://img147.imageshack.us/img147/6074/img0332vc9.jpg

http://img525.imageshack.us/img525/6010/img0331tl3.jpg

http://img182.imageshack.us/img182/9120/img0330vr1.jpg

http://img410.imageshack.us/img410/2383/img0329nw0.jpg

http://img216.imageshack.us/img216/7291/img0326lf3.jpg

http://img525.imageshack.us/img525/5108/img0325ck1.jpg

Hanna

April 20th, 2008, 09:53 AM

[QUOTE=Mavekris;19840221]Good progress and good commitment here:)

OH investors will start laughing very soon.:lol:

Lots of activity on OH 2 as well.:)

Hi Mavekris

Thanks for the great picts keep up the good work :cheers:

CIPUS

April 20th, 2008, 12:02 PM

Nice shots!

Hey Mavekris, is there the possibility for you to turn on the other side end show us something obout the Elite Residence site? :master:

Mavekris

April 20th, 2008, 03:37 PM

No activity on Elite still:)

None there

malec

April 20th, 2008, 03:43 PM

^^ Any chance you could could snap a picture anyway? The last update was over 2 months ago. Last time we saw the site they were digging after piling was finished. Did they finish the digging? Get any further?

Mavekris

April 20th, 2008, 03:50 PM

Will try it tomorrow.

But i am sure you will be disappointed after seeing the pics if you have invested in elite :)

malec

April 20th, 2008, 05:55 PM

^^ Excellent. While you're at it could you also try to take a few pictures of the marina 101 site?

biyadoo

April 20th, 2008, 09:58 PM

Thanks for the excellent pictures Mavekris :)
Progressing nicely... :cheers2:

malec

April 24th, 2008, 12:10 PM

By Omaro:

http://img.photobucket.com/albums/v163/liver4eva/New%20SSC/2008/April/April%2022%20Drive%20and%20shoot/Photo079.jpg

scoot68

April 29th, 2008, 01:20 PM

http://i29.tinypic.com/1q5ztk.jpg

scoot68

April 29th, 2008, 03:40 PM

http://i26.tinypic.com/302ovu1.jpg

biyadoo

April 30th, 2008, 10:14 AM

Thanks Scoot for the pictures. :)

It looks like the core hasn't progressed much, they seem to have concentrated on the podium nowadays.

biyadoo

April 30th, 2008, 10:21 AM

I just received a letter from Damac saying that "Ocean Heights conforms to RERA", with the ESROW account numbers. :)

Should be a bit of a relief for Hanna :)

malec

April 30th, 2008, 10:32 AM

^^ Probably best to ask the RERA if they have this account

biyadoo

April 30th, 2008, 02:27 PM

^^ Probably best to ask the RERA if they have this account

Thanks Malec, good idea.

I tried contacting RERA from these phone numbers:
(9714) 2030241
(9714) 2030555
that I found from: http://www.rera.gov.ae/rera/english/default.aspx

However no one answers the phone :(
Does anyone have any other contact info for RERA?

Thanks in advance.

Naz UK

April 30th, 2008, 11:05 PM

Oh, RERA and Damac have officially gone on a holiday to the Seychelles..sorry, just leave a message, they'll be back in a fortnight.

biyadoo

May 1st, 2008, 10:35 AM

^^ :lol: I was thinking along the same lines. Do you happen to have their address in Seychelles by any chance? :)

Safrica

May 1st, 2008, 09:21 PM

Any idea whats the value of these units today,

Hanna

May 5th, 2008, 09:26 AM

I just received a letter from Damac saying that "Ocean Heights conforms to RERA", with the ESROW account numbers. :)

Should be a bit of a relief for Hanna :)

Hi biyadoo

Did you manage to get confirmation from RERA of the Reference numbers provided by Damac.

Can you tell me the Ref number please. :cheers:

biyadoo

May 5th, 2008, 02:54 PM

Hi biyadoo

Did you manage to get confirmation from RERA of the Reference numbers provided by Damac.

Can you tell me the Ref number please. :cheers:

Nope, I have not been able to reach RERA (starting to doubt if they exist :))

Damac's escrow account is with Abu Dhabi Commercial Bank. I will send the account details to you by pm.

Let me know if you are able to contact RERA.

biyadoo

May 5th, 2008, 11:40 PM

^^ OK, after doing some search on the internet, I found this web site:

http://www.rpdubai.com/rpdubai/home.jsp?lang=0

"Official RERA site??"

Then, clicking on "List of approved projects" - Ocean Heights, as well as many other Damac projects, shows up in the list.

DAMAC PROPERTIES CO. L.L.C Ocean Heights 392-188 Emaar Marsa Dubai

I will also try and call them from + 971 - 4 - 222 - 2253.

This should give us 100% confidence. :laugh:

:cheers2:

DUBAI INVESTOR

May 6th, 2008, 08:21 AM

I have the following contact info on RERA :

Mr Kamal Said Al Barghouthi

Phone +971 4 203 0450
Fax +97142030344
Mobile +97150 2922111
Email kamal@dubailand.gov.ae
Po Box 1166, Dubai, UAE
www.dubailand.gov.ae

Hanna

May 6th, 2008, 09:24 AM

Naz UK

May 6th, 2008, 09:42 AM

What does he do, serve the coffee?

biyadoo

May 6th, 2008, 10:40 AM

^^ Thanks Dubai Investor.

I also got another number for RERA +9714 203 0252 - I haven't been able to call yet.

BTW, this is becoming a RERA chasing thread :)
For a change - any updates on construction?

Mavekris

May 10th, 2008, 08:59 PM

Rising very fast :)

Pics @ today

What L7 mean floor no 7 ?

http://farm3.static.flickr.com/2218/2481186528_9d659b106c.jpg?v=0
http://farm4.static.flickr.com/3238/2481179922_a3780137b1.jpg?v=0
http://farm3.static.flickr.com/2192/2481144918_916674ba33.jpg?v=0
http://farm3.static.flickr.com/2317/2481140002_cccc715b10.jpg?v=0
http://farm3.static.flickr.com/2073/2481132368_88cd040912.jpg?v=0
http://farm3.static.flickr.com/2368/2481124632_198bc8c980.jpg?v=0

Any idea what is coming up here ? Back of ocean heights
http://farm4.static.flickr.com/3264/2481173418_f5d8315708.jpg?v=0

biyadoo

May 10th, 2008, 11:14 PM

Excellent pictures Mavekris, thanks :)

Core seems to be rising ~1 floor/5 days. :banana:
Could they be working on the pool structure on the front podium?
I think L7 means Level 7 (floor 7).
Not sure about the plot behind behind Ocean Heights: part of Marina Arcade or for another project?

:cheers2:

Safrica

May 16th, 2008, 12:56 AM

hi. Any idea if damac has sold out or how many units are left.

biyadoo

May 16th, 2008, 12:25 PM

^^ I had a price list from Damac from February, for 9 apartments and 7 signature residences on sale.

Naz UK

May 25th, 2008, 10:28 AM

Salameer

May 25th, 2008, 03:02 PM

Most international drug dealers and human trafficking bosses, whom Damac have very good relationships with I hear, don't really mind how much per square foot their apartment was bought for, as long as it's seen as a legitimate purchase behind which money can be laundered.

That's what one of Damac's sales directors was telling me any how. Very nice guy.

Talking bolx as usual! :ohno:

ardi

May 25th, 2008, 03:35 PM

^^ So you were expecting 100bn $ worth of projects in past 6 years made from money of harworking middle class.

Naz UK

May 25th, 2008, 09:02 PM

biyadoo

May 26th, 2008, 04:09 PM

^^ Contrary to what Naz says I still believe that OH (and the whole Dubai Marina for that matter) is built by hard-earned monies from working class - like me.
Ooops, excuse me a minute I just got an important delivery from Colombia at my door, let me know when there's a new construction update. :runaway:

scoot68

May 27th, 2008, 05:30 PM

http://i26.tinypic.com/apczl4.jpg

biyadoo

May 28th, 2008, 12:03 AM

^^ Thanks Scoot.

Pictures from Damac site on 26.5:

http://i31.tinypic.com/eff0ba.jpg

http://i26.tinypic.com/e0kifr.jpg

http://i25.tinypic.com/30k3sc7.jpg

A little progress - podium is almost finished.

bizzybonita

May 28th, 2008, 03:41 AM

2 weeks ago and the core still in same level ....

biyadoo

May 28th, 2008, 10:49 AM

I think they are working to finish the podium.
:cheers2:

bizzybonita

May 29th, 2008, 12:54 PM

and how can they go behind that's curve... i think it's will take ages .:ohno:

biyadoo

May 29th, 2008, 01:45 PM

^^ I do hope thay have a plan. :)

bizzybonita

May 29th, 2008, 02:05 PM

i trust Arabtec too :)

AltinD

June 8th, 2008, 07:56 PM

i trust Arabtec too :)

I trust Meinhard (SG) more.

Hanna

June 11th, 2008, 12:07 PM

Hi

There doesn't seem much progress in the last few weeks are the
workers still on site ! :cheers:

crazyevildude

June 14th, 2008, 10:45 AM

June 13th, Imre

http://farm4.static.flickr.com/3131/2576390295_2c5e83db0d_o.jpg

http://farm4.static.flickr.com/3148/2577220716_0ba7789777_o.jpg

http://farm4.static.flickr.com/3027/2576390555_1f0861a639_o.jpg

Mavekris

June 22nd, 2008, 09:20 AM

First floor pouring should be done this week.

There is no looking back for this tower now, the most active construction plot in marina right now, amazing pace :)

scoot68

June 23rd, 2008, 03:18 PM

http://i27.tinypic.com/avo58g.jpg

helghast

June 23rd, 2008, 03:26 PM

looks like there alomst done with the podium

bizzybonita

July 9th, 2008, 07:48 PM

DAMAC Properties’ Ocean Heights Tower reaches the 10th floor

Posted on Wednesday, 9 July 2008

Press Release Content

The luxury lifestyle provider and region’s leading private sector master developer has reached the 10th floor level for its Signature Series Ocean Heights residential tower.

Ocean Heights is one of the many freehold towers being built in the Dubai Marina, which is located opposite to Le Meridien Mina El Seyahi. Ocean Heights will be a 310 meter (1,017 feet) 82-storey tower, with 680 apartments.

The AED 1.5 billion (US$ 408 million) free hold residential tower will contain 1, 2, and 3 bedroom apartment units from 722 to 1,515 square feet and will feature 9 units of Signature Series Apartments from the 67th to the 75th floor and Duplex apartments from the 76th to the 81st floor.

In his comments, Peter Riddoch, CEO of DAMAC Properties, said: “It is a very important time for us, we recently handed over 572 units at Lake Terrace and will continue delivering to our customers. We are pleased to see the development of Ocean Heights; we have already reached the 10th floor and are now able to see it while driving by. We’re happy to see Ocean Heights coming from the design concept to reality.”

“AEDAS is the Lead architects for Ocean Heights. AEDAS offers tailored, customized services and accommodates the needs of every development. Their international experience extends across a range of projects, private and public. Having AEDAS on board will ensure that we deliver highest level of architecture and creative design. DAMAC projects are designed with passion and vision aimed at becoming the Middle East’s most prominent luxury focused private sector master developer,” he added.

Amenities at Ocean Heights will include an outdoor leisure deck with a temperature-controlled swimming pool, gymnasium, sauna, steam room, game room and children's play area. Other amenities included are coffee and juice bars, restaurants, 24-hour security, concierge desk, and housekeeping services.

:D

Dubai_Steve

July 9th, 2008, 07:59 PM

10 floors in 4 years, way to go DAMAC! :nocrook:

bizzybonita

July 9th, 2008, 08:05 PM

iam waiting for Naz special report ...:D

Hanna

July 10th, 2008, 05:36 PM

Hi All

I was there on Monday and had a walk round,how can they say up to the
floor.What I saw was the inner workings of the buildings i.e lift shafts up
to the 10th floor.I am not even sure about the podium area being complete
it looks as if they are starting the build of the structure around the inner
core at present on the 5th level podium area :cheers:

biyadoo

July 11th, 2008, 10:28 AM

^^ A few pictures would be nice nevertheless. :)

Hanna

July 11th, 2008, 03:27 PM

^^ A few pictures would be nice nevertheless. :)

Hi

The picts are the exact same as Imre done on the June 14th :cheers:

Hanna

July 17th, 2008, 08:27 AM

Hi All

Has any of you got a good Customer Relations contact e-mail address for this
shit company,ever since Alan Gammon left there has been little contact from them they will not answer questions and when someone does get round to it it's weeks later. :cheers:

dubaiflo

July 18th, 2008, 12:35 PM

They have Costumer Relations department??

Stephan23

July 19th, 2008, 12:00 PM

Great shot

http://www.flickr.com/photos/imresolt/2681140763/in/set-72157606251825397/

Imre

July 29th, 2008, 09:11 AM

good progress here,already overtook the Sulafa Tower.

Stephan23

July 29th, 2008, 09:27 AM

^^Awesome news Imre !! Don't expect this one so fast !! Very difficult to build I think !!!....

jeetha

July 29th, 2008, 09:52 AM

Will take 3 years start to finish.

Started July 07 - will finish August 2010.

If Arabtec keep to this speed.

Hanna

July 29th, 2008, 01:58 PM

Will take 3 years start to finish.

Started July 07 - will finish August 2010.

If Arabtec keep to this speed.

Hi jeetha

I hope your prediction is correct,if there was any company that could
do it I am sure Arabtec can.

If this is correct would we be in line for compensation for late delivery my contract
was changed to 2009 two years ago. :cheers:

bizzybonita

July 29th, 2008, 03:14 PM

great to hear anything from damac specially in construction update !

biyadoo

July 29th, 2008, 06:54 PM

I think the last updates showed core @ 10th floor. Which level is the core now? Which level is the main structure? Are they working on the inside at the same time?
:cheers2:

AltinD

July 29th, 2008, 07:24 PM

^^ It's to early for any MEP work inside.

malec

August 2nd, 2008, 10:32 AM

http://farm4.static.flickr.com/3074/2723697197_67762e4afa_o.jpg

http://farm4.static.flickr.com/3199/2724519950_0c96df1e4b_o.jpg

http://farm4.static.flickr.com/3191/2724523332_fd0ed2ebe3_o.jpg

Safrica

August 18th, 2008, 03:33 PM

Hi
I purchased a unit long while back in Ocean Heights and managed to find a buyer at aed 2200 sqft,
Called Damac to sort the transfer out and was informed that on my original purchased there was a problem(see below)

Is there anyone that can advise in sorting this?
I am so tired of this that i am willing to let this property go at a loss and carry on with my life,

Advice anyone pleeease

"Dear Mr. Laher,

I apologize if that information was provided to you by Gayle.

Our Legal department will not accept these documents unless you attest them by the Ministry of Foreign Affairs.

Kindly arrange to collect the documents from me and get them attested.

Yours sincerely,

Ms. Sadaf Razvi

Team Leader - Client Relations

DAMAC Properties Co. LLC

Tel : +971 4 332 0255 Ext. - 812

Fax : +971 4 332 0311

Email : sadaf@damacgroup.com

Website: www.damacproperties.com

“Assignments by appointment between 10:00 a.m. to 4:00 p.m. from Sunday to Thursday. Please call 00971 4 3320255 for appointment.”

"For Assignment enquiry please send us an email to property.assignment@damacgroup.com”

NOTICE AND DISCLAIMER
This email (including attachments) is confidential. If you have received this email in error please notify the sender immediately and delete this email from your system without copying or disseminating it or placing any reliance upon its contents. We cannot accept liability for any breaches of confidence arising through use of email. Any opinions expressed in this email (including attachments) are those of the author and do not necessarily reflect our opinions. We will not accept responsibility for any commitments made by our employees outside the scope of our business. We do not warrant the accuracy or completeness of such information.
All business is conducted in accordance with the company’s terms and conditions, a copy of which is available on request.
For the avoidance of doubt, all orders initiated by ourselves must be signed by an authorized signatory of this company."