slowhand, did you ever get a reply to your request for a payment delay?

edit

slowhand, did you ever get a reply to your request for a payment delay?

Hi Slowhand i would like to know about this as well did SP/SG reply to you.
:bash:

Hi Slowhand i would like to know about this as well did SP/SG reply to you.
:bash:

I have had a reply from SP/SG about this request. They said no at this momemt in time as they are adamant they will achieve new deadlines.
They said that they would definately review my request closer to when payment is due [june 1st] as by then we should she what milestones have been achieved in the new build schedule.
We will see what happens then.

I have had a reply from SP/SG about this request. They said no at this momemt in time as they are adamant they will achieve new deadlines.
They said that they would definately review my request closer to when payment is due [june 1st] as by then we should she what milestones have been achieved in the new build schedule.
We will see what happens then.
NoT long to wait then now and not on schedule from what I can see
so you should be ok for your delay of payment

You really are an amateur.

Tell me something wise guy? Did i have hindsight back in Oct/Nov/Dec when i started entering the market and continued to buy as prices were diving throughout the crisis? I seem to remember you and your gang were all laughing at me back then?

The truth of the matter is I still hold Bank stock that I am showing losses on, but I will hold that for my investment term of 5 years +. Due to my hindsight, knowledge, expertise, balls, brains call it whatever you like I have also made massive gains on Bank stock this year. Investment profits your sorry little arse can only dream about because you are too spineless to dare when there is uncertainty. There is still a long way to go and within 2-3 years Barclays will be back around £3.00 - £4.00 other UK Bank stock will recover along similar lines too.

As for picking low points I used YOUR dates, NOT mine. If I wanted to pick low points I would have chosen 0.59p on the 22nd January. That would then equate to 385% return to date and the markets are still trading 40% down on a year ago.

I picked the dates that you were feeling big and brave and were mocking my suggestion that UK Bank shares represented better value than Investing in Bay Central at the time.

This is the way it works:

When all those scared little loosers (you and your gang), were worried that the UK banking system was going to collapse. You ran for cover and sold all your stock. That's when the clever people like me and my gang were happy to take your stock off your hands because we could see you were frightened little boys in a big mans world.

Now that the storm is beginning to ease, more people want to buy back their stock becuase they are not so scared anymore and the government is using their tax money to support all the nasty Banks anyway.

This is when the clever people say "ok you can have your stock back but you pay my price", which is a lot more than i paid you 2-3 months ago.

Do you get it now ? or do you want me to draw you a picture.

Anyway apologies to Bay Central investors for this brief interlude but you should all be warned that Mr Slowhand is nothing more than an SP mouthpiece and you should not take his representations seriously regarding either construction progress or indeed what constitutes an investment oportunity.

Good luck to all with this one. :cheers:

Unless a moderator believes bank shares have anything to do with Bay Central, can they remove all this?

interesting how the price of units vary so much

http://www.dubizzle.com/search/menu/?form_type=SA&sub_category=AP&keywords=bay+central&location=Start+typing+and+select....&location_ids=&bedrooms=--&price_min=AED&price_max=AED&min_sqft=&max_sqft=&sitesearch=SEARCH

I think its because of the two payment plans...you will find above AED2000/sq feet are on LPP...thats total price you pay in 15 years....while apartment under SPP, you will see prices around AED1250 -1600/sq feet..

any latest pictures???

http://farm4.static.flickr.com/3398/3456543094_690f9564c8_o.jpg

NoT long to wait then now and not on schedule from what I can see
so you should be ok for your delay of payment

I am sure SP/SG will have an excuse as to not to delay payments.
Having just returned from dubai. I still find lack of amount of workers on site at BC and Torch Sites.look at Silverene and you find huge number of workers at that site.
I was staying at the Harbour and amount of workforce at Torch was minimal morning afternoon and night.
let us wait and watch
:ohno:

lol

:)

Probably repeats - but hey I uploaded them now!

Pics by DxbGo :applause: - upload by me!

http://i39.tinypic.com/4t8578.jpg
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dxbgo and fwiw pics are great and show what looks to me like really good progress. I will be in Dubai next week so will update then.
Any requests let me know.

Hold on......have we just had some updates without people chatting about Barclays shares?! losers...Nice to see its got back to SKYCRAPER CITY. Admin sort it out!

PS cracking photos...

http://i39.tinypic.com/260ek5l.jpg

^^Beautiful picture - if only it was just a bit more to the right so we could see the central tower!

http://i43.tinypic.com/2isxvmh.jpg

^^Nice one Pete! Hope you are enjoying yourself over there!

Could you take a few pics from Oasis beach hotel tower for me? Please!! Thanks!!

Sunny I will get you more later have been busy.
http://i42.tinypic.com/59y1j8.jpg

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Great photo. Where is taken from and is that west or central tower showing? I think it must be central but can't work it out.

Taken from the lawn at the yatch club, you are correct its central tower. I took it from here to show you how much of the YC you will see. The west tower is futher behind the quays.

central tower lower floors will have yatch club views if there front side apartments..

i think 010 apartments

Thanks Pete :applause:

Central will have some great views!

Friday remember.
http://i42.tinypic.com/30w5qhw.jpg

http://i41.tinypic.com/2mwhykx.jpg

^^Awesome shots! Thanks a million!

Here's the panorama shot!

http://i43.tinypic.com/263yq6d.jpg

there making progress on the towers but no podium work yet?

Don't know if my eyes are deceiving me but has the central tower caught up with the west one?

Also Slowhand, have you had a proper written response back from SP/SG regarding the request for a payment holiday?

central tower is more complete than the west..

whats happing with the hotel or east tower?

i still havent had any land registry document through

there making progress on the towers but no podium work yet?

Would they redesign the podium if the hotel does not go ahead and make a 3rd apartment tower? When will you know more details?

Great shots and looks like great progress.
Also if my guess is right about time taken it would be around 2/2:30 pm. Looks as though the podium will get sun for most of the day which is great.
Thanks a lot.

hi, is it my imagination or are you guys getting a bit more up beat about B.C.???? personally ithink were on a good thing and dispite negative propaganda from the supposed people in the know who seek to profit by driving down prices to sell em up again...dubai will prosper and given the hike in income tax here i can see lots of relocation by bizzzzz........:banana:

central tower is more complete than the west..

whats happing with the hotel or east tower?

i still havent had any land registry document through

I have received a copy of the registration for my unit.

slowhand, did you ever get a reply to your request for a payment delay?

Hi
i also own a unit in central tower can you incude me in any devalopment with payment dely
thanks
Mirpuri

Great shots and looks like great progress.
Also if my guess is right about time taken it would be around 2/2:30 pm. Looks as though the podium will get sun for most of the day which is great.
Thanks a lot.


Yes about 2ish. I have a million more but the internet at the hotel is down i will see what i can do.

Friday pics.
http://tinypic.com/view.php?pic=so4qc7&s=5

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Thanks for the update cbp, good pics and obvious progress. I want now to see things happening with the East/hotel tower. Think the success of this whole project is linked to what happens to this tower and if the hotel chain is actually considering going ahead with the project in times like these. If not who will be buying residentials in this tower at high off plan prices?....Would be great with some communication from SP regarding the progress of this tower, a good result will put a lot of minds at rest.

I think it would be very difficult for any business, particularly a hotel chain which is a sector that is suffering badly all over the world at the moment to make any contractual committment to leasing a tower in Dubai in the present climate. The location of this tower is surrounded by other well established hotels that are all feeling the pinch at the moment and Dubai as a tourist destination is undergoing large scale downgrading by both the media, tourist industry and the public at large.

It would be a very brave CEO who makes the decision to go ahead and sign a contract to take delivery of a hotel tower in 3 years time whilst the world is in this mess.

From SP's point of view i guess they need to be sure what the tower will be used for as the interior plans, rooms etc need to be finalised before the tower can be approved and built.

From a cash flow perspective it may be that SP see more sense in building the tower as another residential project and selling the units in 3 years time in the hope that prices have risen and the market is more active again.

This is the dilemma for the developer i believe, and hence the lack of clarity on this issue. A few lines on an internet forum from a sales rep of the developers agent being the only recent communication on the subject.

Agree totally and I doubt they will have the cash reserves to knock up another residential tower without punters contributions on the chance that prices will recover in 3 years.....

could SP be working on a tactical move just working on the towers so when the new law comes out linking payment with contruction they can claim that the towers are 30% complete?

dont know what there are up to re payments. 20% due June 1st and that will make it 90% paid. At least they could bring the next payment down to 5-10% if not pausing for another 3-6 months.

^^I think so. SP are doing what they can to get some pressure off by making the towers visible above ground. None of us know what is going to happen with the hotel structure but truth is there is no progress, construction wise, in this area.

Great photos and great progress.

Good sea view from this corner of building.
http://i43.tinypic.com/8zmhpy.jpg

Excellent progress
http://i41.tinypic.com/339t4pe.jpg

Are you for real?

could SP be working on a tactical move just working on the towers so when the new law comes out linking payment with contruction they can claim that the towers are 30% complete?

^^I think so. SP are doing what they can to get some pressure off by making the towers visible above ground. None of us know what is going to happen with the hotel structure but truth is there is no progress, construction wise, in this area.

Why is this classed as great progress???

http://i42.tinypic.com/2qizic3.jpg[/QUOTE]


but this is just "SP are doing what they can to get some pressure off by making the towers visible above ground".
Is it perhaps SP bashing again?

http://i41.tinypic.com/339t4pe.jpg

:bash:errrr.....missing the point, there should be 3 towers rising not 2.......

:bash:errrr.....missing the point, there should be 3 towers rising not 2.......

My point was in relation to TB's statement "SP are doing what they can to get some pressure off by making the towers visible above ground". He doesn't say it is good progress merely suggests they are only going through the motions for appearances.

My point was in relation to TB's statement "SP are doing what they can to get some pressure off by making the towers visible above ground". He doesn't say it is good progress merely suggests they are only going through the motions for appearances.


You are confirming how little you know about the construction process of these tower developments.

Silverene has completed the full basement and is well on the way to finishing off the podium structure also. The volume of concrete and tonneage of reinforcement required to carry out this part is equivalent to around 20 floors of a tower.

DCE have not started the basement yet and so far have only blinded the sand ready for the waterproofing. If Arabtec stopped work now on Silverene, I would guess that it would take around 9 months, maybe even 1 year, for DCE to get to the equivalent stage that Silverene is at right now.

So you see, SP are pulling it off because you believe that what you see is as good as the progress at Silverene. Job done!

BTW, I am not really an SP basher I just know a little about construction and like to help out now and then.:)

:bash:errrr.....missing the point, there should be 3 towers rising not 2.......

agree grubman. SP are very non comittal reg the hotel tower. also there is no sign of progress on podium. I think SP are making it look good by bringing west and central tower above ground level.I am still very skeptical about SP. Just hope RERA can see thru this.:cheers:

I do agree with TB...though i dont have any knowledge about construction, i can see around 700 workers spent about 4 months to finish the podium and basement structure at SILVERLANE....

i am again repeating the same thing that the work at BC is in complete mess....i just wanted to ask TB why the work at SILVERLANE is so clean and visible? ( as whenever i see the SILVERLANE pictures..everything is jut perfect...their storage facilities...Cleanliness...tidyness..their equipments...workers dress code etc)...

is it a big diffrence between Arbtec and DCE?

The difference between DCE and Arabtec is night and day. I like watching Silverene as there is plenty of activity and you can see all the Foremen waving arms and directing each man so no one is standing around. Most of the men work in many small units all having a particular area of responsibility.

When you watch Bay Central there is not so much movement and the Foremen do not stand out in the crowd of labourers. The labour force tend to work as 1 big unit moving from one task one day to another the next.

You are confirming how little you know about the construction process of these tower developments.

Silverene has completed the full basement and is well on the way to finishing off the podium structure also. The volume of concrete and tonneage of reinforcement required to carry out this part is equivalent to around 20 floors of a tower.

DCE have not started the basement yet and so far have only blinded the sand ready for the waterproofing. If Arabtec stopped work now on Silverene, I would guess that it would take around 9 months, maybe even 1 year, for DCE to get to the equivalent stage that Silverene is at right now.

So you see, SP are pulling it off because you believe that what you see is as good as the progress at Silverene. Job done!

BTW, I am not really an SP basher I just know a little about construction and like to help out now and then.:)

TB isn’t wrong in saying that silverine is quite a lot ahead of BC, however SG are simply doing what they can so shouldn’t be criticized for it. Due to the fact that they have not started on the East tower it would be pointless to go any further with the podium.

All that will happen is the same as Park Island has done, i.e. to construct the podium around the towers. Doesn’t change the build schedule at all. Its just logical to do what you can as permits allow you. In a perfect world yes all three would be built together and the podium would rise with the Towers however building in Dubai is never straight forward and you just work around the 'red tape'

In terms of how far behind Silverine BC actually is I must say I disagree slightly, think 9 months is a little excessive.

You are confirming how little you know about the construction process of these tower developments.

Silverene has completed the full basement and is well on the way to finishing off the podium structure also. The volume of concrete and tonneage of reinforcement required to carry out this part is equivalent to around 20 floors of a tower.

DCE have not started the basement yet and so far have only blinded the sand ready for the waterproofing. If Arabtec stopped work now on Silverene, I would guess that it would take around 9 months, maybe even 1 year, for DCE to get to the equivalent stage that Silverene is at right now.

So you see, SP are pulling it off because you believe that what you see is as good as the progress at Silverene. Job done!

BTW, I am not really an SP basher I just know a little about construction and like to help out now and then.:)

I have no construction knowledge and have never let people to believe otherwise.
I can see though that silverene is more advanced that was not my point. BC has advanced considerably in the last few months but you say it is just a cover up to make it look like they are ding something. What they have done on the towers is exactly the same to the untrained eye as Silverene. Yes their podium is further advanced and yes it is tidier. That does not mean that BC is not moving and i don't think it is a cover for appearances sake.
Surely with your little knowlegde and helpfel manner you would be better placed offering most of the untrained minions like me an insight into what is happening with the build rather than continually be off hand about it. As an investor in Dubai you will appreciate that people may read this forum before buying and as such when you sell yourself as an expert, which you do, may be put off by your continual bashing of this project. I note your upbeat comments on the Atlantic post when they are 5 yrs behind schedule and still messing around. Do you have an interest here as an investor because i find the contrast in writing styles between the two forums contradictory

that's not what Select said just a couple of months ago. they said in their bulletin they will start the basement and podium structure of the west and central towers in march. there was no mention whatsoever of tying that up to the construction of the east tower.

are you saying that no work will be done on the basement and podium structure of the west and central towers until after the east tower starts rising (who knows when!)!

TB isn’t wrong in saying that silverine is quite a lot ahead of BC, however SG are simply doing what they can so shouldn’t be criticized for it. Due to the fact that they have not started on the East tower it would be pointless to go any further with the podium.

that's not what Select said just a couple of months ago. they said in their bulletin they will start the basement and podium structure of the west and central towers in march. there was no mention whatsoever of tying that up to the construction of the east tower.

are you saying that no work will be done on the basement and podium structure of the west and central towers until after the east tower starts rising (who knows when!)!

Personally I doubt they will, logically doesn’t much make much sense to!

Unless it looks like the Pilling permits are not going to come through for a VERY long time on the east tower, there is no reason to (because its a separate affection plan they could build it independently just would be easier to build the whole thing in one).

However they HAVE started work on the basement floors, its just that hey have limited it to the same lay out as the Rest of the tower. EXACTLY what Emaar did with Park Island which didn’t slow that project down at all.

Seems like very efficient foresight to me! Incidentally guys you know that the new PM team are ex Emaar themselves; same guys as were behind Marina Mall, an you all have seen how quickly that got built!

^^^^^^^^ they have been saying they will get the permit, assuming that this is the stumbling block, since October 2008. and they only said that after investors found out they were lying when they said piling of the hotel was being done along side the residential towers.

i would hardy call that efficient, even with a very hard spin.

btw, Park Island is behind schedule by a mile!!!

and the separate affection plan you keep bringing up, Select cannot provide any official documents proving that claim after repeated requests on my part.

Glover have you actually been into the office personally, just a guess here, but I doubt very much they would give you a copy, email or otherwise, however they might show you one!

As the efficient statement, every thing that has happened since the implementation of the new PM team which I believe from reading other threads was in November, has been. Not only on BC but also on their other Projects.

And before people start making me out as a 'Select can do no wrong' kind of guy. This by no means makes up for the slow progress over the last 3 plus years, just telling it like it is now.

If this type of change proves to a permanent change of attitude Id consider buying with them.

i have asked three people in select more than once for any prove to substantiate their separate affection plan, the last answer i heard is: "where do you think we can get documents like this from"!

if you trust Select like this, i have 3 one bed apartments for sale you can pick and choose from at original price, all come with the 15 year payment plan.

Park islands doesnt have much of a podium or basement levels like BC

Has anybody any idea if sp will either pause or reduce the next 20% payment due June 1st on the spp?

Has anybody any idea if sp will either pause or reduce the next 20% payment due June 1st on the spp?

I have been told payments are expected as normal in June

i have asked three people in select more than once for any prove to substantiate their separate affection plan, the last answer i heard is: "where do you think we can get documents like this from"!

if you trust Select like this, i have 3 one bed apartments for sale you can pick and choose from at original price, all come with the 15 year payment plan.

I think the Land registry shows it the way they say
http://rpdubai.ae/rpdubai/jsp/template.jsp?pageID=10014&lang=0

west and central are one plot. east is another plot.

^^^^ the official project plan in all my contracts show the plot as one. i wish i am wrong though!

The only valid explanation for seperating the East tower from the other two is to give the developer "OPTIONS" with regards to how it is built.

Hotel or Appartments.

I would imagine SP have plans for both options and will hold out for as long as practicable from a construction point of view before submitting final plans for approval, and then commencing construction.

If the Hotel was a done deal, it would have been publicised greatly by now I'm sure.

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Pete! You are a STAR! :applause:

No problems, where shall I send the bill for renting the ride.

The difference between DCE and Arabtec is night and day. I like watching Silverene as there is plenty of activity and you can see all the Foremen waving arms and directing each man so no one is standing around. Most of the men work in many small units all having a particular area of responsibility.

When you watch Bay Central there is not so much movement and the Foremen do not stand out in the crowd of labourers. The labour force tend to work as 1 big unit moving from one task one day to another the next.

Thanks TB for your reply..

Also thank you to Charlie for great pictures..you have solved long puzzle on your last picture ( we can clearly see that all the unit above 20 floors may get reasonable sea view from Central Tower.as al fattain Office tower is about 14 floor)...


Charlie how much it did cost?? so i can plan to hire by saving my 3 months salary after paying all my taxes

Hi
can any one tell me which devalopment is right behind the BC and how many floor will it have ?
thanks
Mirpuri

AL FATTAN OFFICES. 14 FLOORS. The pool at Oasis towers is now in darkness, nil sun.

http://i39.tinypic.com/2ujplbm.jpg

Great Picture Charlie/pete....yacht club side apartment will have great view...

thank you

Does anybody have the address for rera

have a look on http://www.rpdubai.com/rpdubai/welcome

I haven't followed this, but what is hapning with the 3rd tower? They are one short

I haven't followed this, but what is hapning with the 3rd tower? They are one short

supposedly waiting for approval.

Hi Beppe 786 thanks for web site, needed to make complaint about sp about aquitania development

I haven't followed this, but what is hapning with the 3rd tower? They are one short

Maybe SP have turned over a new leaf and decided to become a caring company. They were so moved by the complaints from JBR residents in Sadaf that the hotel tower was going to block the JBR marina views, that they decided it was in Dubai's wider interests that the hotel tower be held back...:nuts:

.
.
.
:ohno:

The only valid explanation for seperating the East tower from the other two is to give the developer "OPTIONS" with regards to how it is built.

Hotel or Appartments.

I would imagine SP have plans for both options and will hold out for as long as practicable from a construction point of view before submitting final plans for approval, and then commencing construction.

If the Hotel was a done deal, it would have been publicised greatly by now I'm sure.

I have spoken with SP today and have been informed that the permits for piling are due this week after which it will take a couple of days to "mobilize" the site. He is 100% confident that piling will start on the HOTEL tower within the next 7 to 10 days.
On the down side i also found out that there is no direct access to the hotel from the podium pool area. This would have been ideal for a beer or some food etc. Don't suppose it's too big a drama bit would have been nice.

Charlie Big Potatoes or Pete as you are being referred to by them in the know.
The photos and update are fantastic.
My wife and i are in Dubai at present and would gladly help you fill any empty space on that boat of yours!!!

^^

lets see from today 10 days if the pilling starts..

if theres no direct access to the hotel hows the la a carte service gonna work?

^^

lets see from today 10 days if the pilling starts..

if theres no direct access to the hotel hows the la a carte service gonna work?

There is service access for staff between hotel and apts.

^^

lets see from today 10 days if the pilling starts..

if theres no direct access to the hotel hows the la a carte service gonna work?

looks like piling equipment has arrived on site. Have photos will post over weekend when back in UK :)

I was at the Land Department yesterday. i defaulted on my last payment to get the Land Department involved to sort out the issues of the hotel and the substantial delays.

they told me (the legal affairs center) that only the Land Department can cancel contracts, and if Select terminates any contract without going through the Land Department, they will give you a letter informing Select, or any developer for that matter, that the termination they did is "illegal".

More good news, if you are on the Standard Payment Plan, they will "force" Select to link payments to construction progress.

They said these are the laws of the land now.

I was at the Land Department yesterday. i defaulted on my last payment to get the Land Department involved to sort out the issues of the hotel and the substantial delays.

they told me (the legal affairs center) that only the Land Department can cancel contracts, and if Select terminates any contract without going through the Land Department, they will give you a letter informing Select, or any developer for that matter, that the termination they did is "illegal".

More good news, if you are on the Standard Payment Plan, they will "force" Select to link payments to construction progress.

They said these are the laws of the land now.

Thanks for sharing this info glover. I think it will help all the investors in other SP/SG developments too. 30th June will be an interesting date as we may see some torch investors hand back their apartments.

Piling has started today on the third tower

Piling has started today on the third tower

Anyone can post any pictures?

Piling has started today on the third tower

Have they cleared Enterance?

love to see new pictures...

Piling has started today on the third tower

:banana:

Piling has started today on the third tower


hoorah!!

I know this is way too early but have you all seen the standard of kitchens at the point. Can anyone confirm to me that this development is of a much higher quality because i did buy here on the 5 star expectation. Ive also purchased in the torch.

Hi
can any one tell me which devalopment is right behind the BC and how many floor will it have ?
thanks
Mirpuri

No Idea ?! Does anyone know what the name of the devlopement is?
I didnt realise they were building something between Al Fattan towers and Bay Central?

Has anyone heard any recent news regarding the development of the 'new' Ocean Beach Hotel adjacent to the Al Fattan towers? Ive been unable to successfully locate the thread for it. Can anyone direct me to it pls?

Im curious as to how much they will tower over the Al Fattan towers and therefore shading the limited views of the sea front views for the BC buyers.

Has anyone heard any recent news regarding the development of the 'new' Ocean Beach Hotel adjacent to the Al Fattan towers? Ive been unable to successfully locate the thread for it. Can anyone direct me to it pls?

Im curious as to how much they will tower over the Al Fattan towers and therefore shading the limited views of the sea front views for the BC buyers.

loving the enthusiasm regarding concerns over views on the fattan side....

For a start the old oasis beach is being chipped away at by a wrecking ball the size of a large tennis ball, bit by bit.....

When it is finally demolished it will be couple of medium rise towers, if at all.

For BC investors that have 'sea' facing views do not worry about this development, it will not obsruct anything that fattan does currently.

AL FATTAN OFFICES. 14 FLOORS. The pool at Oasis towers is now in darkness, nil sun.


No Idea ?! Does anyone know what the name of the devlopement is?
I didnt realise they were building something between Al Fattan towers and Bay Central?

As said by charlie big ones, its offices and will not effect Bay C at all.

Think its topped out now anyways....?

I was at the Land Department yesterday. i defaulted on my last payment to get the Land Department involved to sort out the issues of the hotel and the substantial delays.

they told me (the legal affairs center) that only the Land Department can cancel contracts, and if Select terminates any contract without going through the Land Department, they will give you a letter informing Select, or any developer for that matter, that the termination they did is "illegal".

More good news, if you are on the Standard Payment Plan, they will "force" Select to link payments to construction progress.

They said these are the laws of the land now.
Thanks Glover for the information. I have been following this thread for last 2 years, this is the best news of all. I am in standard payment plan and asked for return of my last payment of 15% of total cost since the project is delayed. Select informed me that money can not be withdrawn from escrow account and REERA is aware of the situation. I hope the situation will change now.

As said by charlie big ones, its offices and will not effect Bay C at all.

Think its topped out now anyways....?

This is far from topped out, not even half way yet. It will as I said 2 years ago on here and got slated have a big affect on lower floor sea views between Al Fattan and JBR on both sides. Study recent pictures posted or take a look yourself from Marina Mall food court. The core is up high enough for you to see.

I know this is way too early but have you all seen the standard of kitchens at the point. Can anyone confirm to me that this development is of a much higher quality because i did buy here on the 5 star expectation. Ive also purchased in the torch.

Not the kitchen bollocks again. We all bought into 5 star luxury. What you see is what you get, ask the question direct to Select.

01/May/2009

Bay Central

http://i44.tinypic.com/3321jd3.jpg

^^Thanks Imre - do you have some of BC from JLT?

Tomorrow I will post better pics from the Marina Mall .

I was at the Land Department yesterday. i defaulted on my last payment to get the Land Department involved to sort out the issues of the hotel and the substantial delays.

they told me (the legal affairs center) that only the Land Department can cancel contracts, and if Select terminates any contract without going through the Land Department, they will give you a letter informing Select, or any developer for that matter, that the termination they did is "illegal".

More good news, if you are on the Standard Payment Plan, they will "force" Select to link payments to construction progress.

They said these are the laws of the land now.

we thank you Glover for sharing this info with all of us
i am so pleased with this thread there are so many informed members
i thank you all keep this thread alive and kicking
Mirpuri

02/May/2009

Bay Central

http://i43.tinypic.com/2l4936.jpg

http://i40.tinypic.com/30hvj2u.jpg

http://i40.tinypic.com/1zydeeq.jpg

http://i44.tinypic.com/b46jde.jpg

http://i39.tinypic.com/2a9chox.jpg

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

http://i41.tinypic.com/2re2jcm.jpg

http://i43.tinypic.com/2iiu9np.jpg

http://i41.tinypic.com/v7tit.jpg

Great update Imre. When is the next payment due here?

:applause: IMRE :applause:

Really great pictures. Looks like they have started piling the hotel tower (this a guess because I can see the big blue corkscrew machine!)

My next payment in due 1st June...

Some of us are paid up 90% already and so next payment not until completion.

No Idea ?! Does anyone know what the name of the devlopement is?
I didnt realise they were building something between Al Fattan towers and Bay Central?

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

http://img266.imageshack.us/img266/6052/fo3ru0.jpg

http://www.skyscrapercity.com/showthread.php?t=599244

Has anyone heard any recent news regarding the development of the 'new' Ocean Beach Hotel adjacent to the Al Fattan towers? Ive been unable to successfully locate the thread for it. Can anyone direct me to it pls?

Im curious as to how much they will tower over the Al Fattan towers and therefore shading the limited views of the sea front views for the BC buyers.

http://www.skyscrapercity.com/showthread.php?t=594600

http://i33.tinypic.com/25jb5n4.jpg

Some of us are paid up 90% already and so next payment not until completion.

this is very bad payment plan, already paid 90% and just rising now.. good for the developer.

^^ If it ever gets built that is. Anyway I don't think they will use that design above, or even the other one shown in the burj al fattan thread.

this is very bad payment plan, already paid 90% and just rising now.. good for the developer.

30% deposit + 15 year payment plan was also available.

more decent progress, keep it up sp. Received a fax from them last week saying they were giving me another 3 month payment holiday so next payment due on 1st Sep. Anyone else receive this?

^^on the SPP

Hi Grubbman did you ask for a extension on your 1st June payment and is that for the LPP

more decent progress, keep it up sp. Received a fax from them last week saying they were giving me another 3 month payment holiday so next payment due on 1st Sep. Anyone else receive this?

Hi Grubbman
My next payment is due 1st September and I would really welcome another payment holiday. Not received anything from SP. How come you had a fax ?? Was this a special request from you ??

^^No request, the payment was originally due 1st of June but received a fax at work saying that I received another payment extension for 3 months so due 1st Sep. I thought it odd with the fax as well, will call this week to confirm but the extra 3 month extension was very welcome.

i also recieved payment extension :banana::lol:this tells you how good SP are
thank you SP:cheers:
Mirpuri

Great News...

Mirpuri r u on SPP or LPP??

i am on LPP and have not received anything from SP..i hope they give 3 months break on LPP...

SP is doing very well in Last 6 months to all of its projects in terms of Payment breaks and Construction

Has anyone got the pictures of the hotel tower...just wanted to know the latest info....

looks like piling equipment has arrived on site. Have photos will post over weekend when back in UK :)

Pictures taken 29th April 2009

http://i42.tinypic.com/2br1q1.jpg


http://i41.tinypic.com/288s9pt.jpg


http://i44.tinypic.com/2n1t95l.jpg

This is back corner of West Tower
http://i39.tinypic.com/fjho9y.jpg

Universal Piling? Never heard of them or seen doing any work around town.

Great News...

Mirpuri r u on SPP or LPP??

i am on LPP and have not received anything from SP..i hope they give 3 months break on LPP...

SP is doing very well in Last 6 months to all of its projects in terms of Payment breaks and Construction

Has anyone got the pictures of the hotel tower...just wanted to know the latest info....

Hi
I am on SPP
Mirpuri

Universal Piling? Never heard of them or seen doing any work around town.

Maybe its a big cardboard cutout....

:banana:more decent progress, keep it up sp. Received a fax from them last week saying they were giving me another 3 month payment holiday so next payment due on 1st Sep. Anyone else receive this?

hi grubman
when did you make the last payment on SPP.Me and Beppe made the last payment on 1st december 2008. making it 70% of the purchase.our next payment was due 1st june 2009. for which SP and sent a letter +global e mail giving everyone a 3 month holiday.this brings Mine and beppes next payment on SPP to 1st of Sept.did you have a different payment schedule.
PM me or clarify on ssc.:cheers:

has anyone any experience with the First Group who advertise here-what do they have to offer-are they just like select!!except they are giving appartments away to people like Michael Owen to promote themselves, would it be worth an ispection trip to see whats now avaliable in Dubai!

:banana:

hi grubman
when did you make the last payment on SPP.Me and Beppe made the last payment on 1st december 2008. making it 70% of the purchase.our next payment was due 1st june 2009. for which SP and sent a letter +global e mail giving everyone a 3 month holiday.this brings Mine and beppes next payment on SPP to 1st of Sept.did you have a different payment schedule.
PM me or clarify on ssc.:cheers:

Last payment I made was September 08, the next one due was 1st March 09 which was extended by 3 months to 1st June and now with the extra extension it will 1st of September. So 6 months premium holiday, hopefully by 1st September this puppy will have made excellent progress to warrant me coughing up the 20% premium which will make it 90% paid.

Last payment I made was September 08, the next one due was 1st March 09 which was extended by 3 months to 1st June and now with the extra extension it will 1st of September. So 6 months premium holiday, hopefully by 1st September this puppy will have made excellent progress to warrant me coughing up the 20% premium which will make it 90% paid.

thanks that clarifies th situation.
:cheers:

thanks that clarifies th situation.
:cheers:

so that means our next payment has been moved too 1st december 2009..

so that means our next payment has been moved too 1st december 2009..

beppe dont know about that. should get 6 months holiday period as grubman has got it.

:banana:

What about us on LPP do we get a another payment holiday???

Regardless of SP say payment hoilday another 3 months or not.. if you have paid more than 30% all payments from now linked to construction..

From my understanding that if someone has paid 75% then once BC reaches 75% complete then next payment will due..

how does RERA Determine how much complete a project is and when next payment is due?

^^I agree with this beppe. Before, I agreed that it was ok to pay RERA the 1% of the Final LPP value. I still think this is a fair way to work out what RERA should get because they have no idea whether you will hold property for the full 15 year term or not.

However, as the LPP plan has an amended purchase price, I now believe that the way to caluclate this figure is (as per I Love Dubai info from RERA):

Paid to date divided by amended purchase price X 100 = xx%

In my particular case I have paid 33.8% up to 31st May 2009. Even if I do not pay the 1st June 2009 installment, I will still be over 30% paid.

I think SP should just give all of us a year long payment holiday, because I don't really see the point of paying anymore money when it goes against recent RERA rules and Dubai Laws.

developer should give at least 2 years payment holiday from now.

Keeping track on progress...

I don't think the podium is done. So are we slipping again?

http://i41.tinypic.com/14y4v93.jpg

^^I agree with this beppe. Before, I agreed that it was ok to pay RERA the 1% of the Final LPP value. I still think this is a fair way to work out what RERA should get because they have no idea whether you will hold property for the full 15 year term or not.

However, as the LPP plan has an amended purchase price, I now believe that the way to caluclate this figure is (as per I Love Dubai info from RERA):

Paid to date divided by amended purchase price X 100 = xx%

In my particular case I have paid 33.8% up to 31st May 2009. Even if I do not pay the 1st June 2009 installment, I will still be over 30% paid.

I think SP should just give all of us a year long payment holiday, because I don't really see the point of paying anymore money when it goes against recent RERA rules and Dubai Laws.

I have always said that 30 % payment of original price was paid by all on LTPP.before the LTPP started.I have the original purchase price of my unit and paid 30% in 2 installments.before LTPP started.
If you look at your LTPP 1st payment LTP1- is after the initial 30 % paid of the original price.:cheers:

so i assume from the discussion above...there is no payment break for LPP... am i right?

so i assume from the discussion above...there is no payment break for LPP... am i right?

No news from SP/SG or even Slowhand on this. I can only assume that SP/SG are either waiting for something to happen or have no interest in their customers...

Come on SP/SG do the right thing and give all of us a 1 year payment holiday!:)

SP cant doo nothing even if we dont pay.. they should come up with another revised payment plan

Has anyone spoken to their account manager or SP staff?? what are they saying???...

We know that SP is following this thread... i think we need some kind of explaination here

Completion date in contract is December 2009, 7 months away. Clearly this was never intended ?? Or was it ?? Lets give the developer the benefit of the doubt and say it was intended with all honesty, otherwise they were trying to pull a scam and I don't believe they would do such a thing.

Now we can assume that the monies collected on both payment plans were sufficient to complete this development in 7 months time. So, following this logic there should be at this stage of the build loads of excess funds washing around in the escrow account which have not been used as clearly the build is way behind where it needs to be to complete in 7 months time. So.......the developer clearly has sufficient funds to continue for another 12 months based on what has already been collected.........and hence a 12 months payment break can easily be given here IMO.:)

^^

SP project completion dates are and always have being scams used as a sales ploy to hook people in .. Baycentral is no exception and Aquitania for 2012 cements it.

Dubai_Steve - Thankyou kindly for the photos and link

Law 9 and amendment to Law 13

http://dubai-property-investors.googlegroups.com/web/Law+No+9+of+2009+-+Amendment+to+Law+13%2C+Art+11+(ENGLISH).pdf?gda=ciAjuHQAAABFqLZ2swyF7aBgt-Ft54YQdRVe7WdMs2_8r7xmlKPDWML3Nrf80S3I0lN81ytV6UnCfbyKjSSaqcTNuv_X_-MT30u0mDDVCjI5Tf0MUQlYCD8XUIYvJODIG1755DMP93BV6u9SiETdg0Q2ffAyHU-dzc4BZkLnSFWX59nr5BxGqA

Law 9 and amendment to Law 13

http://dubai-property-investors.googlegroups.com/web/Law+No+9+of+2009+-+Amendment+to+Law+13%2C+Art+11+(ENGLISH).pdf?gda=ciAjuHQAAABFqLZ2swyF7aBgt-Ft54YQdRVe7WdMs2_8r7xmlKPDWML3Nrf80S3I0lN81ytV6UnCfbyKjSSaqcTNuv_X_-MT30u0mDDVCjI5Tf0MUQlYCD8XUIYvJODIG1755DMP93BV6u9SiETdg0Q2ffAyHU-dzc4BZkLnSFWX59nr5BxGqA

is there a similar formal legal document linking payments to construction progress for off plan sales? if there is this is all we need to delay payments without reference to the developer with confidence

Slowhand:

what happend about our joint list sent too SP about payment hoilday?

Slowhand:

what happend about our joint list sent too SP about payment hoilday?

no response. Have been travelling for a month or so so haven't bothered chasing SP but will ring them tomorrow and post outcome.

I suspect outcome is no (but some investors on list may have been contacted and brought in line with others based on some posts). Track record of developer is not to concede that is why if we know there is a formal legal announcement linking payments to progress then we can safely delay without even asking the developer.

My next pyts are Sept 1st when I will have paid 90%. I will be Ok with this providing progress is satisfactory over next 2/3 months because lost deposit interest due to early pyt is small.

On positive side progress has improved markedly since Xmas (as well as the Point, Torch etc) unlike the developments either side of BC which have more or less stopped despite being further advanced than BC. Piling on hotel has started which is additional comfort.

I am still planning on Dec 2011 handover +/- 6 months.

Rental market is still OK at present. I reckon you could rent a 1 bed in BC unfurnished for 100,000AED pa maybe 110,000AED which is a good initial return.

So although BC will be late and pyts will be ahead of progress final outcome should be satisfactory if not good. BC is in a great location.

is there a similar formal legal document linking payments to construction progress for off plan sales? if there is this is all we need to delay payments without reference to the developer with confidence

This blog may help explain it...

http://blogs.thenational.ae/crane_country/2009/05/law-9-of-2009-is-official.html

Also this graphic shows the linking of progress:

http://blogs.thenational.ae/crane_country/Grab%20from%20Lovell%27s.jpg

As you can see Bay Central falls into the middle category. Now we know why SP/SG got a rocket under them recently. They can now categorically say that construction has started but less than 60%.

However, I think it would take independent construction experts to say what %age of the project is complete. Even if the 2 residential towers were fully complete, I would argue that the project can only be 66.6% complete. The Hotel tower is a key part of this project, and the lack of progress on it is astonishing.

As I am on LPP the purchase price is also a debatable subject, as we have an amended purchase price in the contract. Basically, the laws have helped the developers and the investors have got a long wait on their hands.

Slowhand - Can you chase up SP/SG please? I think it is disgraceful that we have not had a reply from them. If you don't have time then can I suggest you email each person on the list a copy of the email and we can individually send it to our account managers. 1st June is approaching and many on LPP here are waiting for an answer.

This blog may help explain it...

http://blogs.thenational.ae/crane_country/2009/05/law-9-of-2009-is-official.html

Also this graphic shows the linking of progress:


As you can see Bay Central falls into the middle category. Now we know why SP/SG got a rocket under them recently. They can now categorically say that construction has started but less than 60%.

However, I think it would take independent construction experts to say what %age of the project is complete. Even if the 2 residential towers were fully complete, I would argue that the project can only be 66.6% complete. The Hotel tower is a key part of this project, and the lack of progress on it is astonishing.

As I am on LPP the purchase price is also a debatable subject, as we have an amended purchase price in the contract. Basically, the laws have helped the developers and the investors have got a long wait on their hands.

Slowhand - Can you chase up SP/SG please? I think it is disgraceful that we have not had a reply from them. If you don't have time then can I suggest you email each person on the list a copy of the email and we can individually send it to our account managers. 1st June is approaching and many on LPP here are waiting for an answer.

rang SP just now but man I need to speak to is in Dubai flying back tomorrow. I will ring him Tuesday next week for an update re pyt delay. He did ring me about 3 weeks ago to update me but I wasn't available then I went on holiday etc. My next payment is 1st Sept so I didn't feel under time pressure but I forgot others would be on a different timetable. Apologies.

thanks for above info. However this explains what happens on default. Personally I don't want to default but would be willing to delay my payments if the law said I could. I think it would be very helpful to us all if we knew what the position is re developer being only able to demand payments in line with construction progress ie is it a proposal or guidance or actual law.

Sometime ago ie pre Xmas some of us where saying if progress improves, our properties are registered in our names and the hotel starts then we would feel much more comfortable. All that has happened.

The developer is saying completion Dec 2010 but most realists see this will be a later date. Dec 2011 plus or minus 6 months is my estimate.

The remaining issue is payment timetable. Our contract is only for our apartment so we can't take the hotel into account. I think we all make our decisions based on the hotel but this is not part of the contract. I know the developer thinks this strongly based on some initial feedback to my letter. The developer is hard nosed that is the way it is. So we can only assess progress of spend on each tower. In any event I would have thought this would be less than 50% now but I am no construction expert.

The developer is saying completion Dec 2010 but most realists see this will be a later date. Dec 2011 plus or minus 6 months is my estimate.

The remaining issue is payment timetable. Our contract is only for our apartment so we can't take the hotel into account. I think we all make our decisions based on the hotel but this is not part of the contract. I know the developer thinks this strongly based on some initial feedback to my letter. The developer is hard nosed that is the way it is. So we can only assess progress of spend on each tower. In any event I would have thought this would be less than 50% now but I am no construction expert.


IMO if completion is not related to simultaneous hand over is of no use to us!

IMO if completion is not related to simultaneous hand over is of no use to us!

agree with you if outside of hotel is not complete but they are saying this will be the case with only the internal fit out to complete. Not ideal but workable. In any event our contract is for apartment(s) in a residential tower only ie not linkage to hotel in contract so not much we can do about it.

^^^^^ WRONG! read your contract again. The definition of "Project" clearly includes the Hotel.

Investors did not buy into a "building" here; rather, they bought into an integrated development where a 5-star hotel was going to provide a la carte service to the residential apartments. Legally speaking, Select cannot get away with such a narrow interpretation of the contract! their marketing material and the many references in the contract to the hotel will win any court case/arbitration board imo.

also, Select cannot substantiate their claim that the residential towers can be handed over without the hotel being completed. it will be foolish imo to accept their claim without any substantiation given their track record.

^^^^^ WRONG! read your contract again. The definition of "Project" clearly includes the Hotel.

Investors did not buy into a "building" here; rather, they bought into an integrated development where a 5-star hotel was going to provide a la carte service to the residential apartments. Legally speaking, Select cannot get away with such a narrow interpretation of the contract! their marketing material and the many references in the contract to the hotel will win any court case/arbitration board imo.

also, Select cannot substantiate their claim that the residential towers can be handed over without the hotel being completed. it will be foolish imo to accept their claim without any substantiation given their track record.

i have to agree with glover on this.development was marketed and sold as a 3 tower development with 5 star hotel being the main selling point . at the time of sale it was verbally said by select that the hotel may lease peoples apartments on contractual basis.
:cheers:

True Blue can you please give us a rough estimation of the percentage completed at the moment including the Hotel tower. Thanks

Approx 15 per cent. There is a ton of work in the podium.

^^^^^ WRONG! read your contract again. The definition of "Project" clearly includes the Hotel.

Investors did not buy into a "building" here; rather, they bought into an integrated development where a 5-star hotel was going to provide a la carte service to the residential apartments. Legally speaking, Select cannot get away with such a narrow interpretation of the contract! their marketing material and the many references in the contract to the hotel will win any court case/arbitration board imo.

also, Select cannot substantiate their claim that the residential towers can be handed over without the hotel being completed. it will be foolish imo to accept their claim without any substantiation given their track record.

my contract with the developer refers to the central tower only. No mention of west tower or hotel.

does yours say something different?

i have to agree with glover on this.development was marketed and sold as a 3 tower development with 5 star hotel being the main selling point . at the time of sale it was verbally said by select that the hotel may lease peoples apartments on contractual basis.
:cheers:

unfortunately SP are the selling agents only.

my contract and I assume your's is with the developer. Check your contract to see if there is any reference to the hotel please.

you can't claim against the developer if it is not in the contract. You might want to claim against SP but have you something in writing you can sue against?

the hotel still may lease our apartments but I have nothing in writing to say
this will definitely happen. Have you?

^^^^^ that would be really odd! i thought all of their contracts are standard!

my contract clearly defines the project as three towers, two residential and one hotel.

do you have a couple of pages of definitions in your contract! If you do, look for the definition of "Project"!

anyone else have the definition of "Project" missing from their contract!

Approx 15 per cent. There is a ton of work in the podium.

I think this is the best line for us. If we can get evidence that it is law that the developer can only demand instalments in line with progress then we don't have to ask anyone for a delay. We could say when you show progress is 70% or whatever ask us for another instalment but don't until then.

^^Please turn to page 27 of your BC contract. You will see:
"Project" the mixed-use development known as "Bay Central", located in Dubai Marina, Dubai, United Arab Emirates, as detailed on the attached Project Plan and comprising the Building, a second tower and one hotel tower, a podium comprising commercial units and residential villas, and parking situated beneath such podium;
"Project Plan" the plan of the Project attached to the Property Sale Agreement;

Now turn to Page 41 of your BC contract and you will see Annexure 1 - Project Plan.

I would scan it in and show it to you but i'm off to play footy!

True Blue can you please give us a rough estimation of the percentage completed at the moment including the Hotel tower. Thanks

With no podium or basement we are looking at less than 20% complete.

Sorry CBP, just noticed you already answered it on the next post.:)

Hi all
has any one had there unit been registred with land deparment/
i have paid 1% in oct/2008 till today i hav no reply i have conrtacted SP they asked to contact SG it is first time the Ball has started to bounce from SP to SG and i have no contact person in SG only Mial address for admin /payment/others and have no reply

if any one have any info on this pls share
thanks
Mirpuri

Just to change the subject ! i cant find any information on how many levels are car parks, shopping floors, spa etc. and at what point above ground floor do they start the apartments.. please can someody point me in the right direction.
I have also paid my 1% and no reply yet and also told to email SG in dubai...They have found a way to easily fob us off

^^Sounds like a distinct rift is forming between SP and SG on this particular issue.

I have my OQOOD docs, but if I were you I would hassle your SP account manager. And do it Daily via emails and calls.

Also, write a letter to the developer using the address stated in the SPA. This is to Bay Central Developments in Dubai and make sure it is sent using registered delivery.

Sounds like they are playing silly buggers with us...

With no podium or basement we are looking at less than 20% complete.

Sorry CBP, just noticed you already answered it on the next post.:)

TB I was conservative at 15% they have been getting the horn over the slip going up latley but one swallow dont make a summer.This podium will not be above the street level this year. Will post some pics soon.

Just to change the subject ! i cant find any information on how many levels are car parks, shopping floors, spa etc. and at what point above ground floor do they start the apartments.. please can someody point me in the right direction.
I have also paid my 1% and no reply yet and also told to email SG in dubai...They have found a way to easily fob us off

Contact ccdxblaw13@select-group.ae

This according to SP is the way forward. We still havnt had ours after several requests and handover is immenent.

http://i42.tinypic.com/2u9pxjr.jpg

http://i43.tinypic.com/9i4vuc.jpg

May 3rd, 2009

http://i43.tinypic.com/2n4uft.jpg

http://i41.tinypic.com/jigp34.jpg

http://i41.tinypic.com/scz03l.jpg

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

http://i39.tinypic.com/2hnq591.jpg

^^ thanks great pictures

Thanks to Mackie and Hourad for those 2 pics.

Here they are stitched together:

http://i40.tinypic.com/2ljtgy8.jpg

^^ thanks great pictures

agreed. Great pictures. They give an excellent view of the plot inc hotel. Hotel doesn't look like it will be that large?

Slowhand you keep saying HOTEL. Has this been confirmed yet? If so who is it.

^^^^^ that would be really odd! i thought all of their contracts are standard!

my contract clearly defines the project as three towers, two residential and one hotel.

do you have a couple of pages of definitions in your contract! If you do, look for the definition of "Project"!

anyone else have the definition of "Project" missing from their contract!

my contract has a Project definition which states three towers. However the contract is for "development works" and clause 8 which refers to the "Building" only which is defines as Central Tower. Clause 8.9 says the "Buyer hereby acknowledges the Property forms part of the Project (ie 3 towers) ... and the building works will be continuing after Completion Date and the Buyer acknowledges and agrees that it shall have no claim of any nature ... against the Seller .... in respect of those building works and construction"

in others words our contract is for a specific building ie tower and it was anticipated that after handover construction may well continue elsewhere on the site and we can't claim.

I think the Project definition is included solely to allow them to state that you can't claim if building work continues on site. Nowhere does my contract imply the hotel is integral to what I've bought.

as long as the exterior of the hotel is finished on our handover then no major problem.

has anyone any idea how large the hotel is ie how many rooms per floor and how many floors? the last lot of photos give the impression the footprint of the hotel will be small?

Slowhand you keep saying HOTEL. Has this been confirmed yet? If so whois it.

I try to find out when I ring Tuesday/Wednesday this week. It has always been referred to by them as the hotel in my communications with them. Comment has been made the specs for the hotel rooms are better than residential towers.

my contract has a Project definition which states three towers. However the contract is for "development works" and clause 8 which refers to the "Building" only which is defines as Central Tower. Clause 8.9 says the "Buyer hereby acknowledges the Property forms part of the Project (ie 3 towers) ... and the building works will be continuing after Completion Date and the Buyer acknowledges and agrees that it shall have no claim of any nature ... against the Seller .... in respect of those building works and construction"

in others words our contract is for a specific building ie tower and it was anticipated that after handover construction may well continue elsewhere on the site and we can't claim.

I think the Project definition is included solely to allow them to state that you can't claim if building work continues on site. Nowhere does my contract imply the hotel is integral to what I've bought.

as long as the exterior of the hotel is finished on our handover then no major problem.

has anyone any idea how large the hotel is ie how many rooms per floor and how many floors? the last lot of photos give the impression the footprint of the hotel will be small?

No Slowhand - this is not correct.

This the actual text of clause 8.9:

The Buyer hereby acknowledges that the Property forms part of the Project which falls with the Dubai Marina area and that building works will be continuing after the Completition Date and the Buyer acknowledges and agrees that it shall have no claim of any nature howsoever arising against the Seller for compensation or damages in respect of all such building works and construction.

Clause 8.9 refers to the whole Dubai Marina area, where construction is likely to be on-going for many years. It is not there so that SP/SG can weasel out of building the Hotel Tower whilst we live on a building site.

Tell me - have you cut yourself a deal with SP/SG? You seem to ignore my earlier post on the hotel being specifically written into our contracts.

I try to find out when I ring Tuesday/Wednesday this week. It has always been referred to by them as the hotel in my communications with them. Comment has been made the specs for the hotel rooms are better than residential towers.

I was with SG in Dubai on Tuesday last week and had a tour of the site including Hotel. It was confirmed as the Rennaisance 5 star hotel and full permite etc are now through. I was also told that it would definately be behind the other two and would finish later partly because of later start partly because of hotel spec and fit out.

Picture from differnt angle
http://i40.tinypic.com/2qd5q9c.jpg

http://i39.tinypic.com/2cxt6oz.jpg

http://i40.tinypic.com/8xvfol.jpg

http://i39.tinypic.com/2a4vaeg.jpg

http://i41.tinypic.com/2dh5lhk.jpg

http://i41.tinypic.com/1174lfc.jpg

Who told you that? Would of thought Martin Palmer Smythe of RG INT would of been aware of that, obviously SG have kept him out the loop.

FWIW, thanks for pointing that out. Slowhand first denies that his contract mentions the other towers, and then gives out-of-context quotes of a clause in the contract that completely puts Select in a favorable spot and bolsters his position when the facts are contrary to his claims.

Hey slowhand, don't be surprised if people are questioning your motives here.

we have a couple of people on this board who spin any thing to the favor of Select no matter what the facts are.

No Slowhand - this is not correct.

This the actual text of clause 8.9:

The Buyer hereby acknowledges that the Property forms part of the Project which falls with the Dubai Marina area and that building works will be continuing after the Completition Date and the Buyer acknowledges and agrees that it shall have no claim of any nature howsoever arising against the Seller for compensation or damages in respect of all such building works and construction.

Clause 8.9 refers to the whole Dubai Marina area, where construction is likely to be on-going for many years. It is not there so that SP/SG can weasel out of building the Hotel Tower whilst we live on a building site.

Tell me - have you cut yourself a deal with SP/SG? You seem to ignore my earlier post on the hotel being specifically written into our contracts.

Just a wee point on JBR walk and area. I found it no different from any time i've been and evrywhere was packed. You had to queue most nights for tables or give them your number. tI stayed at Le Royal Meridien which was running at 100% occupancy as were most of the beach hotels in the area as my friends tried to book. They eventually got into Grosvenor which was only 85% booked.

http://i42.tinypic.com/vxd85u.jpg

On the downside - the beach between Hilton and Sheraton was mobbed Fri and Sat. Just busy the rest of the time.

http://i43.tinypic.com/t563vs.jpg

Who told you that? Would of thought Martin Palmer Smythe of RG INT would of been aware of that, obviously SG have kept him out the loop.

I have no wish to be involved in speculation and rumour i am merely pointing out what i was told. Until someone proves otherwise by facts i am happy to believe it.
I form my own opinions and in my opinion i am happy with this developement [and hotel] and also happy with evrything in Dubai. It appears to me that some people are always speculating. I will be as dissapointed as the next person should things change but why worry everyday about rumours. If it happens it happens...then i will deal with it.

Good to see that Dubai is still popular with the tourists - if this is how Dubai performs in a downturn - let's look forward to up the end of the correction/recession.

Super photos - keep them coming. After a shakey start SG are really making progress.

how many piles will the hotel tower need? how long would that take?

i asume all around the hotel tower piling has been done

Pano from hourad's great pictures:

http://i40.tinypic.com/345d1xe.jpg

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

http://i39.tinypic.com/2cmw20m.jpg

good work. thanks

I try to find out when I ring Tuesday/Wednesday this week. It has always been referred to by them as the hotel in my communications with them. Comment has been made the specs for the hotel rooms are better than residential towers.

no change to plans. It's still a hotel deal with Marriott

request for payment delay is still being considered

consideration is being given to the early production of a show apartment sometime over the coming months so that detailed pictures can be circulated to owners

no change to plans. It's still a hotel deal with Marriott

request for payment delay is still being considered

consideration is being given to the early production of a show apartment sometime over the coming months so that detailed pictures can be circulated to owners

SG need to get their finger out reg payment delays. people on LPP payment is due 1st june.
where are they going to put the show apartment. surely not ON BC .
:ohno:

There gonna put the show apartment in the hotel tower next week according too SP Schedule :lol:

anyone recommend a good Budget Digital SLR Camera

Mamiya 645AFD III plus whatever lens you fancy, or a Canon EOS 50D.

anyone recommend a good Budget Digital SLR Camera

Canon EOS450d

SG need to get their finger out reg payment delays. people on LPP payment is due 1st june.
where are they going to put the show apartment. surely not ON BC .
:ohno:

one of the lower floors in BC. only for photos of finish

thanks for the info..

cannon 450d is half the price of the 50d

gotta laugh. the only thing a show apartment will do is get more people contacting select for their money back once they see the cheap fixtures and fittings.

^^ NEVER KNOW WE COULD HAVE BETTER FINISHING THAN THE REST OF SELECTS PROJECTS!

i hope you do but come on whatever gives you that idea? even if the show apartment is made to look amazing going off their form the rest of the apartments won't have the same fixtures in it anyway.

select clearly need to up their game it's one thing selling in a booming market but in times like these they actually need to work hard, deliver on their commitments and deliver quality. the days of all show with very little substance are thankfully over.

what they have got going for many of their developments is great location - i hope you guys get some really high spec finishing rather than the rip it out and put my own stuff in that i've got in the point.

^^
Common sense = A company that constantly sets out to get any possible penny from their investors will certainly kit out the apartments on the cheap side. Luxury finishings in BC and others - forget it.

^^ it will prob be the same.. but maybe they have learnt a few tips from cocking the rest of them up

^^ it will prob be the same.. but maybe they have learnt a few tips from cocking the rest of them up

beppe dogs tail is always bent. there is a saying in India. you can put a dogs tail in a straight tube for 6 months.but when you remove the tube the tail is still bent.
:cheers:

well whatever...
but need to accept the fact that its best location in MARINA..
.i think it will be the highest standard as it has to stand with the 5 star hotel and remember the hotel is going to manage the apartment..so the standard should be according to MARRIOT level....
we should wait and watch...

well whatever...
but need to accept the fact that its best location in MARINA..
.i think it will be the highest standard as it has to stand with the 5 star hotel and remember the hotel is going to manage the apartment..so the standard should be according to MARRIOT level....
we should wait and watch...

:lol: :lol: - highest standard as it has to stand with the 5 star hotel.
Indeed .. lets wait and see. :cheers:

well whatever...
but need to accept the fact that its best location in MARINA..
.i think it will be the highest standard as it has to stand with the 5 star hotel and remember the hotel is going to manage the apartment..so the standard should be according to MARRIOT level....
we should wait and watch...

They will need a nice show appt to tempt another 200 investors in todays market to fill the HOTEL :lol:TOWER.......

Beg to differ on the best location, i think thats Iris Blue followed by Marina Prom.

I have been informed that I have been given a further payment break.

That's great DxbPC! Are you on SPP/LPP and for how long if you don't mind sharing the info...

^^ it will prob be the same.. but maybe they have learnt a few tips from cocking the rest of them up

they have said this. It is always the case when you (ie select group) have never completed one before you recognise have made mistakes and you can do things better next time. BC will benefit firstly from the Point and then Torch. Botanica will benefit from BC etc

I have been informed that I have been given a further payment break.

come on dxbpc give us more details . a lot of people are awaiting your post reg payment break you have been given . for how long ad on which plan LPP or SPP.
:bash:

Pic from atlantic thread - thx to dxbpc. Shows a bit of central tower.

http://i44.tinypic.com/212d2d3.jpg

come on dxbpc give us more details . a lot of people are awaiting your post reg payment break you have been given . for how long ad on which plan LPP or SPP.
:bash:

My next payment was due on June the first. I have two apts, one on SPP and one on LPP. I have been given a 3 month break on the SPP after which time they will review it agian. I didn't request break on LPP.

P.S. on that photo from Atlantic site. It was taken last Friday around 3pm. So it's not new.

^^ IS THAT FURTHER 3 MONTHS FROM THE ORGINAL PAYMENT BREAK MAKING IT 6 MONTHS?

^^ IS THAT FURTHER 3 MONTHS FROM THE ORGINAL PAYMENT BREAK MAKING IT 6 MONTHS?

Yes i assumed that would be obvious. It is a further 3 month unconditional break making it 6 months in total. Closer to the new payment due date i can apply again.
Well done on using capital letters to emphasize your point.

Yes i assumed that would be obvious. It is a further 3 month unconditional break making it 6 months in total. Closer to the new payment due date i can apply again.
Well done on using capital letters to emphasize your point.

if you had made the june payment what percentage would you have paid.
also who did you apply to.

:cheers:

if you had made the june payment what percentage would you have paid.
also who did you apply to.

:cheers:
I have paid 50% to date on both properties. June payment would have taken it to 70%.
SP took care of it for me. I have said it before and I will say again that I find them very professional and helpful.

one would find them proffessional with only 50% paid, for those of us who have paid 70% with another 20% due in september its not so great.

I have paid 50% to date on both properties. June payment would have taken it to 70%.
SP took care of it for me. I have said it before and I will say again that I find them very professional and helpful.

thanks for the info dxbpc.
:cheers:

one would find them proffessional with only 50% paid, for those of us who have paid 70% with another 20% due in september its not so great.

Have they said no to you or asked you to reapply closer to time? How many do you have?

you really are clueless if you think Select is "very professional and helpful"! Select is taking their clue from the land department. they fully know that due to the substantial delays, they have to offer payment extensions to investors on the SPP. for if SPP investors refuse to pay and go to the land department due to the delays, Select knows for sure that the land department will force them to link payments to construction. what they are doing here is getting ahead of investors and avoiding any troubles with the land department.

that is why they will not extend payments to the LPP. because the land department does not see the LPP arrangment as clear cut warranting their intervention, and Select Knows that!

I am on the LPP and Select refused to extend payments for me just a couple of days ago.

Sooner or later, Select would have no other choice but formally link payments to construction for the SPP, but investors have to act to get that.

I have a studio in dubai marina with another developer who revised the payment schedule linking it to construction when i asked them to do so. did not have to pursue it at all. in fact, i even wrote the revised schedule myself and they only changed it slightly. this is what i would call "very professional and helpful". What Select is doing here is manipulating the situation to their advantage! if they were "very professional and helpful" as you put it, they would have revised the payment schedule formally and for all, linking it to construction, not do it piecemeal the way they are doing it now. if anything, that's very unprofessional and manipulative.

i am planning to pursue the LPP case all the way to the mediation center/real estate court in due time. stay tuned.


SP took care of it for me. I have said it before and I will say again that I find them very professional and helpful.

you really are clueless if you think Select is "very professional and helpful"! Select is taking their clue from the land department. they fully know that due to the substantial delays, they have to offer payment extensions to investors on the SPP. for if SPP investors refuse to pay and go to the land department due to the delays, Select knows for sure that the land department will force them to link payments to construction. what they are doing here is getting ahead of investors and avoiding any troubles with the land department.

that is why they will not extend payments to the LPP. because the land department does not see the LPP arrangment as clear cut warranting their intervention, and Select Knows that!

I am on the LPP and Select refused to extend payments for me just a couple of days ago.

Sooner or later, Select would have no other choice but formally link payments to construction for the SPP, but investors have to act to get that.

I have a studio in dubai marina with another developer who revised the payment schedule linking it to construction when i asked them to do so. did not have to pursue it at all. in fact, i even wrote the revised schedule myself and they only changed it slightly. this is what i would call "very professional and helpful". What Select is doing here is manipulating the situation to their advantage! if they were "very professional and helpful" as you put it, they would have revised the payment schedule formally and for all, linking it to construction, not do it piecemeal the way they are doing it now. if anything, that's very unprofessional and manipulative.

i am planning to pursue the LPP case all the way to the mediation center/real estate court in due time. stay tuned.

As usual thank you for your kind words and approachable manner.
As i have stated previously i did not over extend my financial obligations and therfor find myself with no need to panic or default. I keep trying to explain we are different with very different ways of doing things and also i bought in later, particulalry my LPP which was bought end of last year from a distressed seller at less than he bought it for at launch 2/3 yrs perviously.
So in summary...i have a payment break, i bought from a distressed seller at less than original, i have paid only 50% of my two apts, i havn't defaulted, you are selling everything in a distressed manner at original price, you have defaulted, you havn't got a payment break...and "I AM CLUELESS"
Oh well...

^^^^^^with all the personal attacks above, you still have not addressed my points. how can you claim Select is "very professional and helpful" when all the facts point otherwise!!!

putting my apartments on the market at original price does not mean this is a distressed sale. This is the market price for any off-plan apartments now. in fact, some apartments at prime locations are selling at original price and they are only few months away from completion. and having my money tied up in a development that will not be completed for another two years at least with no real prospects for meaningful capital appreciation for a while and little rental yield after completion will be dumb on my part to say the least. i am much better off selling them and investing my money in other places. but again, what else should i expect from some one like you. daah


anyone who doesn't see the new realities of the real estate market in dubai after the credit crisis and adjust to them is a moron and hiding his head in the sand imo.

FYI, i am going to frustrate Select with payments just like they are frustrating us all, until i sell my apartments.

also, didn't you send me a PM asking for more information about my apartments, and when i told i am selling them at original price, yet you still asked me what is my best price, and i said i can't go below original price. how can you still claim i am a distressed seller now even though i told you i am not going below original price.

Glover if you want to sell em you will have to go below OP trust me.

^^^^ if i am a distressed seller and need to sell them immediately, i know i have to do that. i actually got offers below OP but did not sell. Why, because i know by year end i can sell them, or one of them at least, at OP. so i'll just wait and see for now!

money tied up in this development is dead money for at least 2-3 years imo. you either live with that and bite the bullet (and stop the bullshit about how great Select is), or act on it and move on.

If your that sure its dead dough for a 3 stretch, surely sell em 10% below, knick the exchange rate (that may not be there for much longer) and by something complete, or due to complete soon and get it rented.

^^^^^ i don't have the advantage of the exchange rate. my currency is dollars and dirhams.

not planning to put any money in real estate for the foreseeable future. stocks will be a much better choice or even money market accounts. rental yield is no longer attractive in dubai vs. other more liquid investments imo. i will still have some properties in the UAE after i sell the BC ones.

sterling and euro strengthening vs the dirham could help to sell them even sooner.

will wait and see until after ramadan. maybe i will sell one of them at a loss and keep the other two until late in the year/early next year.

BTW, i did sell one at the peak in October 2008 for a profit of 365k net.

Slowhand, remember the tip I gave you for Ceres Power 2 months ago at 80pence, have a look at them today! :banana:

11th may


http://farm3.static.flickr.com/2394/3531299676_dba609f79d_b.jpg

15/May/2009

Bay Central

http://i40.tinypic.com/1601oar.jpg

Found this on hotelier.com - see bottom line

http://www.hoteliermiddleeast.com/hotels-country-united_arab_emirates-8/20/

http://i39.tinypic.com/295pa28.jpg

Found this on hotelier.com - see bottom line

http://www.hoteliermiddleeast.com/hotels-country-united_arab_emirates-8/20/



good work

Slowhand, remember the tip I gave you for Ceres Power 2 months ago at 80pence, have a look at them today! :banana:

I know - should have bought

11th may


http://farm3.static.flickr.com/2394/3531299676_dba609f79d_b.jpg

hey , you're wearing well

good work

:nuts:

Absolutely worthless!

In case you forgot, they are just piling the hotel tower now so likelyhood of it opening as an Hotel in 2011 is zero, FACT!

Will the hotel still be interested when they find out they have been fecked about by SP with fantasy completion dates that prove they know nothing about managing construction projects?

Maybe the honeymoon is over and the divorce is looming:)

i agree with slowhand...its fantastic news....hotel project will surely go ahead...by the time BC project finish, market will be the same as it was in 2007....

i think this is a right time for hotel project as material prices are very low and Marina hotels occupancy will always high.