There are a load of hotels sitting finished in the marina but not opening for business for some reason. Casts questions on the viability of this hotel IMO.

4 JBR hotels
The Dusit, opposite marinascape.
The Ritz Carlton Hotel apartments (Dreams)
The Lotus Hotel and Spa
The Lootah and most of it's neighbours waiting for licences to be granted.
Marina Diamond Hotel (soon)

If SP can't deliver within stated timescales why should the operator hang about loosing money and opportunity.

There are a load of hotels sitting finished in the marina but not opening for business for some reason. Casts questions on the viability of this hotel IMO.

4 JBR hotels
The Dusit, opposite marinascape.
The Ritz Carlton Hotel apartments (Dreams)
The Lotus Hotel and Spa
The Lootah and most of it's neighbours waiting for licences to be granted.
Marina Diamond Hotel (soon)

If SP can't deliver within stated timescales why should the operator hang about loosing money and opportunity.
Don't be pessimistic TB your team won today and look like champions now give SP a break for just today !! :cheers:

: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:)

THE GUY WISHING FOR FAILURE OF OUR INVESTMENT RETURNS WITH ALL HIS RUMOUR AND SPECULATION.

^^

...
Well done on using capital letters to emphasize your point.

:banana:

rumors and speculation!!! another indication how clueless you are!

if the all-glamour Trump Hotel on the iconic Palm was put on hold, why in the world do you think TB's very reasonable analysis of the Marriott pulling out (no one really knows for sure if they are still in anyways) is a mere speculation! for all we know, that link you posted could have been posted 2-3 years ago and is old information.

you are willing to spread rumors about other investors (you did that to me), yet try to spin anything about Select to the positive.

FYI, if you spread any rumors about me next time, you will be reported immediately to the moderators.

THE GUY WISHING FOR FAILURE OF OUR INVESTMENT RETURNS WITH ALL HIS RUMOUR AND SPECULATION.

: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:)

Its Bob the Builder spouting rubbish again. Your not an investor in BC (or a construction specialist but a kerb layer) so your comments can be ignored.

The facts. We have made steady progress since Xmas. The two residential towers are going up. Progress is being made veryday. Open your eyes. The hotel has started. The apartments have been registered in our name. Great progress has been made on the Point and the Torch by the same developer in this period. You can't now post your usual negative dross on these threads because it is generally good news.

Yes, the project including the hotel will be late but so are most projects. I think Dec 2011 plus or minus 6 months.

You sound like you drink too much and think too little. Most negative comments come from investors who have realised they are not going to make an easy profit and in fact might make a loss if they didn't buy forward or are forced to sell at the wrong time. You haven't got the same excuse. Your brain is underdeveloped. Wonder off somewhere else.

Its Bob the Builder spouting rubbish again. Your not an investor in BC (or a construction specialist but a kerb layer) so your comments can be ignored.

The facts. We have made steady progress since Xmas. The two residential towers are going up. Progress is being made veryday. Open your eyes. The hotel has started. The apartments have been registered in our name. Great progress has been made on the Point and the Torch by the same developer in this period. You can't now post your usual negative dross on these threads because it is generally good news.

Yes, the project including the hotel will be late but so are most projects. I think Dec 2011 plus or minus 6 months.

You sound like you drink too much and think too little. Most negative comments come from investors who have realised they are not going to make an easy profit and in fact might make a loss if they didn't buy forward or are forced to sell at the wrong time. You haven't got the same excuse. Your brain is underdeveloped. Wonder off somewhere else.


Whereas I don't share TB's total negativity on SP you can't accuse him of not being a "construction expert" I would suggest he has forgotten more than you and me know !! and although SP have picked up recently the apartment quality/finish at The Point is not as sold/promised , we grin and bear it but I'm far from happy with that - I just hope BC goes up a notch in terns of quality of finish

1st QTR 2012 is achievableble BUT SP will need to throw much more man power than what we have have had here up to now to get there on time

Slowhand so 6 years in the making and some already paid 70% great show I should think. Very clever all those who invested here:bash: and dont worry you will be getting the same quality as TT and TP. DCE do not know any different.

Slowhand; - we've all occassionally risen to his bait. It isn't worth it as the guy is clearly getting off on getting a rise out of us. He does - as Man Utd says though - have a lot of knowledge which he is keen to impart - and I'm grateful for that bit. It's a shame that his credibility is totally lost due to his obvious bias towards some developers and against others. It's like he needs to spout off like this just to reassure himself that he bought in right locations and towers. I'd say he bought in great towers in the wrong location but I'm sure he'll have plenty to say about that.


Its Bob the Builder spouting rubbish again. Your not an investor in BC (or a construction specialist but a kerb layer) so your comments can be ignored.

The facts. We have made steady progress since Xmas. The two residential towers are going up. Progress is being made veryday. Open your eyes. The hotel has started. The apartments have been registered in our name. Great progress has been made on the Point and the Torch by the same developer in this period. You can't now post your usual negative dross on these threads because it is generally good news.

Yes, the project including the hotel will be late but so are most projects. I think Dec 2011 plus or minus 6 months.

You sound like you drink too much and think too little. Most negative comments come from investors who have realised they are not going to make an easy profit and in fact might make a loss if they didn't buy forward or are forced to sell at the wrong time. You haven't got the same excuse. Your brain is underdeveloped. Wonder off somewhere else.

Marriot will manage 1700 rooms in Emirates Park Towers in Business Bay (2 x 395m) that are half done structurally. Oh, and Marriot already ditched the managment contract for the 330m tall Al Yaqoub Tower (the Big ben copy) in SZR that stands currently at some 270 meters tall.

Also interesting is point out that for financial reasons, the 72 floors Rose Rotana Tower in SZR has not opened yet despite being completed 2 years ago and being fully furnished inside.

rumors and speculation!!! another indication how clueless you are!

if the all-glamour Trump Hotel on the iconic Palm was put on hold, why in the world do you think TB's very reasonable analysis of the Marriott pulling out (no one really knows for sure if they are still in anyways) is a mere speculation! for all we know, that link you posted could have been posted 2-3 years ago and is old information.

you are willing to spread rumors about other investors (you did that to me), yet try to spin anything about Select to the positive.

FYI, if you spread any rumors about me next time, you will be reported immediately to the moderators.

Oh no...please don't report me to moderators. That was sarcasm [and an attempt at humour] by he way as you miss the point most other times. The point of this forum is not to listen to you and your cronies and your tales of woe. It is not for advertising your apartments either. It is not for your speculation either because things aren't going as you planned. We are all in a similar situation and should be working together to achieve the collective goals and objectives...not listening to people with no financial obligation in this project.
I contacted Marriott and recieved this reply. On that basis until someone proves otherwise why should we worry?
http://i40.tinypic.com/10r3bip.jpg

^^^^^^ what's the date of this letter!!!

that even makes TB's point even more valid, opening (Sept 2012) is another 3.5 years away! it will be insane on marriott's part not to go through a reassessment giving the new economic conditions. not suggesting that the hotel will be canceled, but anyone who thinks that it's not on the table should have his head examined imo (the same thing applies to whoever thinks BC is a good investment short-medium term)!

to put it simply, your opinion and some others here go straight to trash as far as i am concerned. On the other hand, i would pay TB to hear his opinions!

and i am not here to joke about things and don't take lightly any humor from someone like you, who keeps attacking me personally.

^^^^^^ what's the date of this letter!!!


17th of May 2009

I agree with DXBPC....i think its good news:banana:...hotel is in pipeline and it will remain....

dont worry about what is happening elswhr...every project has it own condition....

SP is very professional as we have seen the last 4 months progress at all of their projects and also in terms of payment break etc

BC is great project and i am happy that i have invested in it....

we will see many unwanted comments on this thread as many ppl are simply jelous of not being a investor at this great project


i have found this image from MQ thread....West tower--8 floors finished....does this 8 floors count in total 36 floor....???:nuts:
does it mean 28 floors remain??

http://img38.imageshack.us/img38/5604/img2704.jpg (http://img38.imageshack.us/my.php?image=img2704.jpg)
http://img38.imageshack.us/img38/img2704.jpg/1/w845.png (http://g.imageshack.us/img38/img2704.jpg/1/)

i have found this image from MQ thread....West tower--8 floors finished....does this 8 floors count in total 36 floor....???:nuts:
does it mean 28 floors remain??



I was told by SG in Dubai recently that from JBR side there are 3 floors [G,1,2]before the towers start. So effectively floor one of towers is floor 3 from jbr side and 7 from marina side...so i would say 34 left on west.

I was told by SG in Dubai recently that from JBR side there are 3 floors [G,1,2]before the towers start. So effectively floor one of towers is floor 3 from jbr side and 7 from marina side...so i would say 34 left on west.

so we can say that construction of actual floors have started....

i beleive now the speed of the floors will rise as there is no need to change in design and plate...except mechanical floors....which floors are mechanical floors?? :cheers1::cheers1::cheers1:

we will see if they can achieve floor/week target...

Oh no...please don't report me to moderators. That was sarcasm [and an attempt at humour] by he way as you miss the point most other times. The point of this forum is not to listen to you and your cronies and your tales of woe. It is not for advertising your apartments either. It is not for your speculation either because things aren't going as you planned. We are all in a similar situation and should be working together to achieve the collective goals and objectives...not listening to people with no financial obligation in this project.
I contacted Marriott and recieved this reply. On that basis until someone proves otherwise why should we worry?
http://i40.tinypic.com/10r3bip.jpg

This is great news. It certainly means the hotel is going ahead, at least at the moment, so SG's claims seem plausible. If this had been cancelled altogether Marriott would not be issuing such details in writing.

^^ looks like (maktol) Dxbpc has typed out that letter himself!!

Quote from http://www.dubaiselect.com/dubai-property-news/select-group-signs-with-marriott-international-to-manage-renaissance-dubai-marina-hotel/

Scheduled to open in 2010, the Renaissance Dubai Marina Hotel will boast 300 rooms and be part of a 1 million square foot, mixed use
development known as Bay Central - an AED 1 billion project, that also includes two residential towers and about 3,000-square meters of
retail space.
Commenting on the hotel development at Dubai Marina, Mr. Rahail Aslam, Chairman, Select GroupTM said: ‘Select Group has aligned its
goals of strategic business growth in line with the vision of His Highness Sheikh Mohammed for Dubai. The city’s recurrent position as one of
the top three cities of the world for highest revenue per available room (revPAR) and the government’s plans to drive up tourist numbers from
six million in 2006 to 15 million by 2010 were some of the compelling factors which contributed towards the inclusion of a five star hotel in
the Bay Central project.
‘In line with the group’s strategy of offering its stakeholders the most selective solutions with maximum return on investment and owing to
Marriott International’s excellence and experience in hotel management, they were our preferred choice for this venture.’
The Renaissance Dubai Marina Hotel will feature an all-day casual restaurant, two specialty restaurants, lobby lounge and bar as well as a high
energy entertainment bar with outdoor seating. For recreation, the hotel will offer an internationally branded, 14,000-square foot spa; a health
club with sauna and steam rooms; and an outdoor swimming pool. With 16,800 square feet dedicated to flexible meeting space, some of the
other amenities will include an executive lounge, a business center, 24-hour room service, in-room mini-bar, and high-speed internet access.
‘We are delighted by this hotel,’ said Mr. Ed Fuller, President and Managing Director for international lodging at Marriott International. ‘As
currently designed, the Renaissance Dubai Marina Hotel will be a perfect addition to our Renaissance brand portfolio that is gaining
widespread recognition for the sophisticated, stylish, urbane and enjoyment-focused hotel experience it offers. We are confident the hotel will
fit in very well with the lifestyle offered by the Dubai Marina development.’
‘Having an internationally acclaimed five star luxury hotel within the Bay Central Development has further increased the resale and rental
appeal of the residential towers. The occupants of Bay Central residential towers will have access to a number of the hotel’s services,
including A la Carte Services, as well as a number of fully licensed bars and restaurants on their doorstep, making it a truly unique offering,’
added Mr. Aslam.

^^The bit in bold is what I have issue with. I did not invest in BC so that I could then wait over a year (at least) before the hotel is operational.

The bit in bold is what I have issue with. I did not invest in BC so that I could then wait over a year (at least) before the hotel is operational.
__________________
Off licence would have been better don't fancy 5 STAR HOTEL prices every night :cheers:

Yes but you will be able to send a text when you land to run your bath. Sunny, at least its going in the right direction at long last.

^^ looks like (maktol) Dxbpc has typed out that letter himself!!

^^:lol:
Maktol would not deliberately misslead anyone, would he? Kerblayer:bash:
Who would write a letter "dear ****"? I think you are a very naughty boy.:ohno:

Altin, very usefull info. I am begining to think there is a hotel conspiricy going on in Dubai. The powers that be already have hotels spread throught the city and know how difficult it is to fill them. Keep hotel occupancies up by holding up the permits, I wonder!

^^ looks like (maktol) Dxbpc has typed out that letter himself!!
Cheers.
Anyone wishing a copy of original email from Marriot pm me with your email address. The conspiracies on here are great.
Mark

Hotels are cheap as chips, I just booked GH ten mins ago @£105 pn inc fatboy breakfast. Coming to see if the bacon sarnies have done me snagging!

^^:lol:
Maktol would not deliberately misslead anyone, would he? Kerblayer:bash:
Who would write a letter "dear ****"? I think you are a very naughty boy.:ohno:

Altin, very usefull info. I am begining to think there is a hotel conspiricy going on in Dubai. The powers that be already have hotels spread throught the city and know how difficult it is to fill them. Keep hotel occupancies up by holding up the permits, I wonder!

As your office is onlt two mins from my house please feel free to pop in and see the communication. Or i could meet you for breakfast and show you it.
Also your comments re hotels in general should how naive you are on this subject.
Call me if you like just get my number off Walter.

Hotels are cheap as chips, I just booked GH ten mins ago @£105 pn inc fatboy breakfast. Coming to see if the bacon sarnies have done me snagging!

does that include access to the lounge on 44th floor
:cheers:

As your office is only two mins from my house please feel free to pop in and see the communication.:sly: Or i could meet you for breakfast and show you it.
Also your comments re hotels in general should how naive you are on this subject.
Call me if you like just get my number off Walter.

Do you think these kerbs lay themselves:lol:

Anyway I'm not that friendly with Walter Smith, I just make out I hang with the team:)

Assuming the email is legit' does that mean that Sept 2013 is likely after we add on the normal 1 year delay:dunno:

Wonder what my guestimate for completion was, Mr FWIW I forgot:bash:

Do you think these kerbs lay themselves:lol:

Anyway I'm not that friendly with Walter Smith, I just make out I hang with the team:)

Assuming the email is legit' does that mean that Sept 2013 is likely after we add on the normal 1 year delay:dunno:

Wonder what my guestimate for completion was, Mr FWIW I forgot:bash:

One minute you say its not going ahead the next you are claiming your a genuis because you have guessed the compltion date. What way are you going?
A guess thats a no to breakfast. Not really understanding the kerb laying comments. I thought you built and consulted on skyscapers!
Cheers
Mark

^^ I didn't forget mate! It was 30/Sep/2012....I am still penciling in Aug 2011...as cbp says it is going in the right direction at long last.

does that include access to the lounge on 44th floor
:cheers:

Affraid not, but I am only in town 1 night so it will be The Yatch Club for me.

Hotels are cheap as chips, I just booked GH ten mins ago @£105 pn inc fatboy breakfast. Coming to see if the bacon sarnies have done me snagging!
CBP -pm me your source (seeing as you can't work your blackberry messenger:lol::lol:)
I need to come over soon --GH at £105 is brilliant

Affraid not, but I am only in town 1 night so it will be The Yatch Club for me.

could you do me a favour and takea nice picture of horizon tower if you get time. the round building behind the yatch club.
email it to me on return.
have a good trip:cheers:

No Problem.

Hi, I am on LPP. I had a payment due on 1st May but never made it.
Select has made no request for the payment so far. Is everyone else still making payments to Select????

Yes, why would we not.

my next payment is 1st june on LPP... and i don't intend to make it...

payments are now related to construction by law... and i have already paid more than 30%...



...

my next payment is 1st june on LPP... and i don't intend to make it...

payments are now related to construction by law... and i have already paid more than 30%...



...

agree i am not making my 1st june payment on LPP:ohno:

my next payment is 1st june on LPP... and i don't intend to make it...

payments are now related to construction by law... and i have already paid more than 30%...



...

Same here doc!

we are all on strike with payments!!

Hotels are cheap as chips, I just booked GH ten mins ago @£105 pn inc fatboy breakfast. Coming to see if the bacon sarnies have done me snagging!

where is GH?

I was told by SG in Dubai recently that from JBR side there are 3 floors [G,1,2]before the towers start. So effectively floor one of towers is floor 3 from jbr side and 7 from marina side...so i would say 34 left on west.

they say one floor every 5 days is the target so West & Central Towers could be up by end of the year. Presumably they are building the podium at the same time.

has anyone got recent pictures of piling on hotel?

I am making my payment on 1st June as spoke to select today and they said it is not law as yet !!! about payments linked to construction. My view is that the next payment due in sept should be linked to progress and I have not broken my contract/agreement?

where is GH?

Grosvenor House Hotel next to Iris Blue.
:cheers:

I am making my payment on 1st June as spoke to select today and they said it is not law as yet !!! about payments linked to construction. My view is that the next payment due in sept should be linked to progress and I have not broken my contract/agreement?

last I heard some one had asked select for a payment break. They were told by select that they should contact the developer directly as the developer is dealing with all matters of payments.So I dont see why select should ask you to make the payment.:banana:

DXBGO.. you are right but they have not got back to us so what are we to do??

and you expect them to say it is!!! you are dealing with a bunch of calculating, manipulative former used cars salesmen here.

you have two major real estate laws in Dubai linking payments to construction, the escrow law and the recently revised off-plan default law. that's enough for the land department to issue guidelines to developers to link payments to construction (which they did few month ago).

if Select and other developers decide to ignore these government guidelines, investors need to default and seek the land department's help on this. The land department will then force the developer to link payments to construction.

I am making my payment on 1st June as spoke to select today and they said it is not law as yet !!! about payments linked to construction. My view is that the next payment due in sept should be linked to progress and I have not broken my contract/agreement?

thanks to jeetha

http://i43.tinypic.com/2lv0q3q.jpg

Grosvenor House Hotel next to Iris Blue.


LOL ... Where is LND? London next to Fulham. :lol:

Grosvenor House Hotel next to Iris Blue.
:cheers:

thanks. are these next to each other? do you drink a lot?

http://i44.tinypic.com/slnt52.jpg


http://i40.tinypic.com/2rh9xtt.jpg


http://i43.tinypic.com/eqy2dv.jpg

http://i43.tinypic.com/2ii79sh.jpg

http://i42.tinypic.com/vzhb9k.jpg

thanks. are these next to each other? do you drink a lot?

Iris blue apartments and GH are next to each other.Just over the bridge from Emirates Marina(now The harbour Hotel) and infinity tower.
I have a guiness after a game of golf on the weekend.
:bash:

Harbour Hotels The Observatory best Friday Brunch and great for TT and Infinity investors. Yes I do drink alot.

Harbour Hotels The Observatory best Friday Brunch and great for TT and Infinity investors. Yes I do drink alot.
Have you tried the Thai Kitchen in Park Hyatt.If you like thai food try that for friday brunch^^

This picture shows clear view of yatch club from all central tower side apartments.. also from west tower above floor 13ish

http://i39.tinypic.com/25hg5lw.jpg

Have you tried the Thai Kitchen in Park Hyatt.If you like thai food try that for friday brunch^^

I really like Thai girls so am more than happy to try the cuisine. Will try the Park Hyatt always partial to a nibble in the downstairs restaurant!

I really like Thai girls so am more than happy to try the cuisine. Will try the Park Hyatt always partial to a nibble in the downstairs restaurant!
D O M !!

This picture shows clear view of yatch club from all central tower side apartments.. also from west tower above floor 13ish



smart work.

I am buying 2 apartments in central tower. One either side at front side but low down. I had been wondering whether I would get view of yatch club from one of them and it looks like I will.

Yes I do drink alot.

good. I'll buy you one next time in dubai :cheers:

Investors should have a May 2009 pdf update in their email boxes...

As you can see from below, podium has slipped by a month from earlier update. Also, as expected Hotel will not be ready until May 2011...

http://i40.tinypic.com/11uanf7.jpg

Investors should have a May 2009 pdf update in their email boxes...

As you can see from below, podium has slipped by a month from earlier update. Also, as expected Hotel will not be ready until May 2011...



got mine. I will be happy if they hit these timescales from where we were Xmas 08.

got mine. I will be happy if they hit these timescales from where we were Xmas 08.

I agree with Slowhand - if SG meet these timescales i would be very very happy. Real progress is being made compared to Xmas when there was literally wind blowing across the site.

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

http://i44.tinypic.com/21kdlhi.jpg

I agree with Slowhand - if SG meet these timescales i would be very very happy. Real progress is being made compared to Xmas when there was literally wind blowing across the site.


I would be happy also but come on guys be realistic

posted by diveksa 21st may

http://img200.imageshack.us/img200/5621/dscn1872.jpg

Here we go.

All of sudden it's being referred to as the EAST TOWER by Select. maybe a parapraxis ? or just my suspicious mind ? :dunno:

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

Here we go.

All of sudden it's being referred to as the EAST TOWER by Select. maybe a parapraxis ? or just my suspicious mind ? :dunno:



Paranoi - referred to as hotel and east through out the bulliten
http://i43.tinypic.com/15x5zt2.jpg

Excellent.

We have it in writing from SP. Now there no going back.

Excellent.

We have it in writing from SP. Now there no going back.

It's also written in our SPA contracts.

I would be happy also but come on guys be realistic

this forum lacks construction expertise so it is difficult as lay people inc me to make a judgement. It seems like progress on SG sites (the Point, Torch and BC)has speeded up significantly since Xmas. It is possible they will make these timescales. It will be obvious in the next couple of months whether they will.

Apart from the issue of matching payments to progress I think SG have
- speeded up progress
- markedly improved communication as we now get a timetable and detailed photos
- they are seeking to allay fears about finish by kitting out a show flat quite soon
- they are starting to build the hotel.

So all in all a big improvement over situation pre-Xmas when you had to have some concerns whether BC would be moth balled.

I have now received a response to our group letter requesting a delay in making payments.

The key points are
- all requests to be put to the developer SG not SP
- SP thinks SG will not grant delays for LLP purchasers
- a further delay of 3 months is likely to be granted to those paying on SPP. "However, Select Group now charge for the consideration of any request for a relaxation of any payment; AED 500 for administration charges in relation to the request and an additional fee of AED 1500 upon signed acceptance of any offer made. Unfortunately, there is no flexibility on this; however we are confident a 3 month payment extension would be granted to SPP purchasers. If you or any of the purchasers on the above list would like to go ahead with a request – please let me know and I will obtain the forms from Dubai."

So any SPP purchaser on our group letter can apply and presumably anyone else on SPP.

I think it is a bit of a cheek to charge for getting a delay when we all think the developer has caused it.

Clearly it is up to each individual investor to decide whether they unilaterally delay payments based on what Glover has been saying ie RERA will not let developers cancel your contract if payments are ahead of progress.

I have paid 70% on SPP so far. My next payments are due 1st Sept 2009. I could get an extension to 1st December 2009 based on above. I have bought Dirhams forward and it cost me £80 to reschedule a payment the last time. Given the above costs from SG for rescheduling and another £80 and poor interest on funds in UK ie 1.5% at best I won't bother applying for an extension. So providing progress continues at current pace I will make my next payment 1st Sept taking my cumulative payments to 90%.

We are all free to make our own choice based on our own personal circumstances and feelings about the situation.

Whatever anyone does, do not break any of your contract commitments. Glover's point is valid but I would not trust RERA, totally incompetent and on the side of the developers every time (with one or two exceptions for PR). :cheers:

Slowhand you are saying you are 90%paid in sept. We were 85% paid and at about the same stage and it took 18 months to complete. You got 3 years at least.

Slowhand99 what type of group do you have can any BC investor join in?
payment extension i received till 1st december 2009and i am on SSP

has any one paid 1% land registering fee to sp?
becuse i have paid long back and have no reply or aknowlagment .
Mirpuri

I have now received a response to our group letter requesting a delay in making payments.

The key points are
- all requests to be put to the developer SG not SP
- SP thinks SG will not grant delays for LLP purchasers
- a further delay of 3 months is likely to be granted to those paying on SPP. "However, Select Group now charge for the consideration of any request for a relaxation of any payment; AED 500 for administration charges in relation to the request and an additional fee of AED 1500 upon signed acceptance of any offer made. Unfortunately, there is no flexibility on this; however we are confident a 3 month payment extension would be granted to SPP purchasers. If you or any of the purchasers on the above list would like to go ahead with a request – please let me know and I will obtain the forms from Dubai."

So any SPP purchaser on our group letter can apply and presumably anyone else on SPP.

I think it is a bit of a cheek to charge for getting a delay when we all think the developer has caused it.

Clearly it is up to each individual investor to decide whether they unilaterally delay payments based on what Glover has been saying ie RERA will not let developer's cancel your contract if payments are ahead of progress.

I have paid 70% on SPP so far. My next payments are due 1st Sept 2009. I could get an extension to 1st December 2009 based on above. I have bought Dirhams forward and it cost me £80 to reschedule a payment the last time. Given the above costs from SG for rescheduling and another £80 and poor interest on funds in UK ie 1.5% at best I won't bother applying for an extension. So providing progress continues at current pace I will make my next payment 1st Sept taking my cumulative payments to 90%.

We are all free to make our own choice based on our own personal circumstances and feelings about the situation.

Thanks for the update slowhand. They are being very cheeky with charging for admin fees.

Could you be so kind as to email the others on your list my email address. Please do not post my email address on this site, as I only want genuine BC investors to contact me.

Thanks for the update slowhand. They are being very cheeky with charging for admin fees.

Could you be so kind as to email the others on your list my email address. Please do not post my email address on this site, as I only want genuine BC investors to contact me.

slowhand .
SG are being very naughty. as FWIW suggested please send the original people on your list FWIWs e mail or they can PM either of us.

:ohno:

I have now received a response to our group letter requesting a delay in making payments.

The key points are
- all requests to be put to the developer SG not SP
- SP thinks SG will not grant delays for LLP purchasers
- a further delay of 3 months is likely to be granted to those paying on SPP. "However, Select Group now charge for the consideration of any request for a relaxation of any payment; AED 500 for administration charges in relation to the request and an additional fee of AED 1500 upon signed acceptance of any offer made. Unfortunately, there is no flexibility on this; however we are confident a 3 month payment extension would be granted to SPP purchasers. If you or any of the purchasers on the above list would like to go ahead with a request – please let me know and I will obtain the forms from Dubai."

So any SPP purchaser on our group letter can apply and presumably anyone else on SPP.

I think it is a bit of a cheek to charge for getting a delay when we all think the developer has caused it.

Clearly it is up to each individual investor to decide whether they unilaterally delay payments based on what Glover has been saying ie RERA will not let developer's cancel your contract if payments are ahead of progress.

I have paid 70% on SPP so far. My next payments are due 1st Sept 2009. I could get an extension to 1st December 2009 based on above. I have bought Dirhams forward and it cost me £80 to reschedule a payment the last time. Given the above costs from SG for rescheduling and another £80 and poor interest on funds in UK ie 1.5% at best I won't bother applying for an extension. So providing progress continues at current pace I will make my next payment 1st Sept taking my cumulative payments to 90%.

We are all free to make our own choice based on our own personal circumstances and feelings about the situation.

I thought there was a new law that states payments should be near in line with construction if you have paid up to 90% in Sept construction will only be at best 30% done so it seems unfair to me and as I said thought there was new law ? Might be worth talking to RERA

^^^^^^^ "unfair", i would say this is a ripoff and Select should not get away with it!

did someone say few days ago that Select is "very professional and helpful"!!

^^^^^^^ "unfair", i would say this is a ripoff and Select should not get away with it!
I 100% agree with you here. I also don't understand why slowhand (whom i usually agree with) decided to post it on this forum and act as a messenger for SG. This should have been communicated only to those involved in the group. I would also be interested to here if anyone else has been charged.


did someone say few days ago that Select is "very professional and helpful"!!

I feel like you are my stalker. But hey...it makes me feel special. What i actually said was, " i find them very professional and helpful"...and i do. I approach them as i would expect to be approached and they are never anything but courteous, professional and helpful. In the last week or so i have signed off on a further 3 month extension to my SPP apt with no strings or cost attached whatsoever and furthermore i am certain i am not the only one. What i don't understand is why it took SP/SG 8 weeks to reply to slowhand when it took them 3 days to reply to me. Likewise they also sent me a form to complete immediatley and could only move forward to developer after they had recieved completed form.
If you wish i will send you a copy of the agreement.

The questions that should be getting asked in my opinion are...

Why are SG helping some and not others?

If you are on SPP it will be granted if you approach them in a professional and respectful manner. They are not considering LPP...i have one on LPP. I also see their point on this. I would recommend that anyone on SPP should still approach them and ask that the costs [if any] be waived.
Why did they decide to impose a cost when approached by an investors group?

To make a statement that they will not tolerate group mentality. If they conceded here it would, from their position, send out the wrong message. I originally joined this group then decided against it and PM'd slowhand. My reason was that i felt i could do better approaching them alone as I bought it as an individual. If you look a similar thing happened with Hydra investor group...
Hydra throws out investors after bust up...http://www.arabianbusiness.com/556460-hydra-throws-out-investors-after-bust-up
Glover...its not a competition to see who is right or wrong. We are just different, with different opinions and different ways of dealing with things. If it works for you go for it.

I think the situation is clear now
- progress has speeded up on BC and the Point etc and other things have happened that give me confidence BC will complete
- I am not sure when but am planning on completion Dec2011 +/- 6 months. I know this is late but we are in the situation we in
- communication with the developer is better in that we are getting a regular update with timetable and photos. The timetable might be optimistic but we have a level of detail to measure progress. SP is backing away from staying involved with us and leaving it largely to SG. I don't see the point in trying to communicate direct with the developer. He is not that interested in us. This is clear. It was easier communicating with SP but they backing off as I said. One of the reasons for this is the major ear bashings and serious agro they have had from some investors(think Torch). Whether this was justified is debatable. I can see both points of view
- the developer is hard nosed and it is going to be hard work getting further worthwhile concessions on payment delays
- I think BC will be one of the best developments in the Marina and we will all make money as the economy picks up in terms of rental income or capital gain

I had major concerns about completion before Xmas but now I don't. A further 3 month payment delay or even 6 months is not that helpful to me. That is my point of view. I am now going to take a back seat and as long as current rate of progress continues I will be relaxed. If someone else wants to act as coordinator re requesting payments delays please step up to the plate. I am uneasy passing on details of others who have given me their personal details. So it is best if they do this direct again to anybody new.

I am going to concentrate on trying to make money on advising banks who have problems monitoring commercial customers who have breached bank covenants. A growing opportunity in the UK. I expect to be busy. One good thing to come out of this credit crunch.

This is all bull S**T

* dont pay your next installment..

* RERA will contact you cancel contract as Select cannot

* you explain to RERA that only 25% complete and you have paid over 75%

Result in Developer forced to link payments with construction givin us all 1 year payment hoilday..

:ohno::ohno: :ohno:

I hope people learn a lesson from this and do not pass their personal/financial information to anyone that just ask for it, group actions will never work especially when you have some of the characters we have here.
If you have an issue deal with it yourself, don't rely on someone else :cheers:

This is all bull S**T

* dont pay your next installment..

* RERA will contact you cancel contract as Select cannot

* you explain to RERA that only 25% complete and you have paid over 75%

Result in Developer forced to link payments with construction givin us all 1 year payment hoilday..

Do not break your contract commitments if you want to be taken seriously, not even RERA can get you out of it and you lose your right to any claim :cheers:

:ohno::ohno: :ohno:

I hope people learn a lesson from this and do not pass their personal/financial information to anyone that just ask for it, group actions will never work especially when you have some of the characters we have here.
If you have an issue deal with it yourself, don't rely on someone else :cheers:



A bit of advice for free, do not break your contract commitments if you want to be taken seriously, not even RERA can get you out of it and you lose your right to any claim :cheers:

I agree with everything written here. Deal with stuff yourself as no else will put in the same effort for you as you do yourself.
Never default on your contract. If you need to negotiate a way through it, or out of it, but defaulting on anything is not advised...unless of course your financial status leaves you no other option.
If anyone wants the details of the person i dealt with from SP/SG while in Dubai PM me and i will give you their details. They asked me not to post the details here and i respect that. Deal with them as you would expect to be dealt with and i am certain they will help you as much as possible.
Just my opinion...
Mark

This is all bull S**T

* dont pay your next installment..

* RERA will contact you cancel contract as Select cannot

* you explain to RERA that only 25% complete and you have paid over 75%

Result in Developer forced to link payments with construction givin us all 1 year payment hoilday..

Beppe - Do you know of any confirmed cases in BC where this has worked and have you seen the written agreements confirming it? It seems a bit blasé and dangerous offering advise like this.

mackie,

why don't you share with us any bad experiences you had with RERA/the Land Department that led you to make such a statement! surely, there are many cases which clearly show that RERA/the Land Department did and can make things better. and there are also many cases where collective action proved to be the best way to go in dealing with developers in dubai!

The law is clear, no developer can cancel any contract without going through the land department. the land department has said publicly and in person that developers should link construction to payments. there are two major laws in dubai now that link payments to construction, the escrow account law and the offplan default law. so the principle is clearly enshrined in the law, and in the end, its the land department who decides what the law says and means!

Further, the contract we all signed with Select clearly states in clause 19.1 that "The Agreement is governed by the laws applicable in the emirates of Dubai, United Arab Emirates".

so it is not the investors who are breaking the contract here, it's Select who is breaking the law!

you yourself dealt with Select and know that no matter how faithful you are to the contract, Select will renege on it when it suits their interest!


A bit of advice for free, do not break your contract commitments if you want to be taken seriously, not even RERA can get you out of it and you lose your right to any claim :cheers:

^^
Glover i can't find any detail in any of the laws that State clearly that payments should be in line with construction - although i agree they should. I have enquired with Clyde and Co. of Dubai too and they say nothing is formal yet as everything is still in the pipeline. Until such a time that this law is formal and released surely you agree that investors [us] must keep themselves right by the contract.

escrow law - http://www.rpdubai.ae/rpdubai/fg?f=DaFD6buDFunTim9885A7Nu9lzfurwomL1TSA5bIPpx7o%2FEf2RyyEgxrOl7RTOvvU

law 13 (off plan)? - http://www.rpdubai.ae/rpdubai/fg?f=DaFD6buDFunTim9885A7Nu9lzfurwomL1TSA5bIPpx7TdClqE4dHrcHCDKr6bbHi

Article (11)
1. In the event that the purchaser defaults on any term of the contract he made
with the developer for the sale of the Real Estate Unit, the developer should
notify the Department accordingly and the Department will then give the
purchaser 30 days notice to fulfill his contractual obligations, by hand,
registered post or email.
2. If at the end of the period referred to in item 1 of this Article the purchaser has
not fulfilled his contractual obligations, the developer may cancel the contract
and repay the purchaser his money less a deduction that does not exceed
30% of the monies paid by the purchaser.

no, when the land department says publicly and in person (through their Legal Consul) to many people who take the effort to go to them and inquire, "don't pay" in such situations, then the contract has been superseded by the law of the land and investors should not pay, especially to a manipulative developer like Select.

The land department knows that they have enough in the law today to force any developer to link payments to construction.

you should rather ask yourself, how come other developers are doing that, revising payment schedules linking them to construction progress, but not Select.

you can quote what you like from the law, in the end, it's the land department who decides what it is! and the land department has said its word on this, payments should be linked to construction progress.

^^
Until such a time that this law is formal and released surely you agree that investors [us] must keep themselves right by the contract.

^^ GLOVER is right.. everyone else is linking payment to construction.. why should be keep chasing up select and arse kissing them asking for payment hoilday... if they dont listen then they will listen to RERA.. worse case even if RERA cant help which i dont think will be the case.. well have too make payment..

Linked to construction or linked to completion. I suggest you have a good look at this as there can be 2 years between the two.

snip

I am now going to take a back seat and as long as current rate of progress continues I will be relaxed. If someone else wants to act as coordinator re requesting payments delays please step up to the plate. I am uneasy passing on details of others who have given me their personal details. So it is best if they do this direct again to anybody new.

snip


Slowhand - I think you misunderstood me. As you have my real email address, why don't you just email the individuals in our group with my contact email address. If they want to contact me, then that is their choice.

They will not be giving anything away, it will be me that is giving my email address.

Some others on both LPP & SPP have already come forward and I have their addresses. If you are an investor in Bay Central and would like to 'team' up then PM me and I will give you my email address.

All this talk of going it alone is rubbish. Obviously, some people are not team players and have distrust of everyone and everything. What a horrible place to be in...

A capable team has strengths in many departments and can make a valuable impact. A recent example of what an effective team can achieve can be seen in real life with the Gurkha issue. It took the media, celebrities, MPs and of course the Gurkhas to get their way.

This Select issue is extremely minor compared to an issue like that!

Now who's with me? (Apart from the other fine people that have already contacted me!)

Sunny, thats all very good if you have a level playing field, but you are attempting a battle on a very steep slope. I will agree, you have a better chance going it alone.

^^^^^^^^^ much better chance of what!! what is your goal here, getting an extension of payment alone! why bother with Select when the law is on your side!

again, the question here should be why other developers are linking payments to construction but not Select even after repeated requests! i would see that as a red flag!

Any updated photos

glover and beppe are right!!..here is a example where group action works mackie, on the palm jebel ali payment of 20% for garden home villas were due 1st April 2009 and nakheel sent letters to all customers to confirm this. A investor that lives in Dubai got in touch with hundreds of other investors and formed and group called the palm jebel ali club and told them not to make payment as we had all payed 30% so far and nakheel were behind on schedule .400 investors signed a petition which was presented to Mr Emad Eldin Farouq(Senior Legal Advisor), at RERA, our concerns were explained to him. Meeting was set up between rera and nakheel and both worked together to reschedule the payment plan.
RERA then made it clear to the palm jebel ali club that the new payment plan would be linked to the Construction of the Villas and that the Project will have an Escrow Account and would be fully regulated as per Rera regulations. Nakheel then informed customers payments were on hold as new payment plan was to be announced soon.
Nakheel has fully acknowledged the palm jebel ali club and contacted the club saying they are ready to hear suggestion made by homeowners which is a great way to improve confidence in the Palm Jebel Ali project and this approach can build a strong positive relationship between Nakheel and homeowners as we all have a common goal to achieve the success of the project.
So as you can see group action does work..You can also go to this link to confirm what i am saying
http://www.thenational.ae/article/20090404/BUSINESS/48291446/1005

DxbPC

i am not going to repeat myself here and waist my time with you, because as i said before, your case is hopeless and no matter what the facts are, you look the other way.

i wish SSC have the "place on ignore" feature! you will be the first to go there!

UPDATE: what a joke you are! you just deleted your post (#3844) accusing me of fabricating RERA's rule of linking payments to construction after jaydubai posted his proof.

you are one dodgy character for sure.

A capable team has strengths in many departments and can make a valuable impact. A recent example of what an effective team can achieve can be seen in real life with the Gurkha issue.

It took the media, celebrities, MPs and of course the Gurkhas to get their way.

Now who's with me?

http://i39.tinypic.com/6zu6h5.jpg

Come on sunny I'm in............

many thanks for sharing this.

did you guys get this! RERA/the Land Department forced the biggest government real estate developer to link payments to construction! how can anyone raise doubts about the land department's effectiveness when it comes this issue!

here is a quote form the story:

"Under the new terms the next instalment, which was due on 1 April, has been deferred until the end of this year, while the remainder will be linked to stages in construction thereafter."

glover and beppe are right!!..here is a example where group action works mackie, on the palm jebel ali payment of 20% for garden home villas were due 1st April 2009 and nakheel sent letters to all customers to confirm this. A investor that lives in Dubai got in touch with hundreds of other investors and formed and group called the palm jebel ali club and told them not to make payment as we had all payed 30% so far and nakheel were behind on schedule .400 investors signed a petition which was presented to Mr Emad Eldin Farouq(Senior Legal Advisor), at RERA, our concerns were explained to him. Meeting was set up between rera and nakheel and both worked together to reschedule the payment plan.
RERA then made it clear to the palm jebel ali club that the new payment plan would be linked to the Construction of the Villas and that the Project will have an Escrow Account and would be fully regulated as per Rera regulations. Nakheel then informed customers payments were on hold as new payment plan was to be announced soon.
Nakheel has fully acknowledged the palm jebel ali club and contacted the club saying they are ready to hear suggestion made by homeowners which is a great way to improve confidence in the Palm Jebel Ali project and this approach can build a strong positive relationship between Nakheel and homeowners as we all have a common goal to achieve the success of the project.
So as you can see group action does work..You can also go to this link to confirm what i am saying
http://www.thenational.ae/article/20090404/BUSINESS/48291446/1005

If you speak with SP or SG and voice your concern alone they will try to bedazzle you with their sales tactic legal jargon but they don’t really know what they are talking about they are only repeating what they have be told by their superiors. They are only sale persons that have very little knowledge about construction and until you voice your concern with rera you will not know your real rights regarding this. Rera service is free it will not cost you anything just your time what’s the worst that can happen rera will say you have to pay ,you have nothing to lose!! It only takes 2mins on rera website to put a complaint or query they will have a answer within 20 days ..THIS IS WHAT RERA WAS SET UP FOR CUSTOMERS, INVESTORS AND DEVELOPERS.
RERA link
http://www.rpdubai.ae/rpdubai/welcome

http://i39.tinypic.com/6zu6h5.jpg

Come on sunny I'm in............

That's a lovely picture....

Nice bowler hat too! :lol:

I won’t trust everybody’s advice on this site as we are all aware select monitor this forum and I’m sure they will be contributing on here to off throw some people. If you want to know for 100% for sure the answer to (1) can select cancel your contract without informing rera (answer only rera can cancel contract)
(2) Should payments be linked to construction and is this law now (answer yes)
You can ring rera +971 - 4 - 222 – 1112 they will give you the answers in simply terms in one minute

glover and beppe are right!!..here is a example where group action works mackie, on the palm jebel ali payment of 20% for garden home villas were due 1st April 2009 and nakheel sent letters to all customers to confirm this. A investor that lives in Dubai got in touch with hundreds of other investors and formed and group called the palm jebel ali club and told them not to make payment as we had all payed 30% so far and nakheel were behind on schedule .400 investors signed a petition which was presented to Mr Emad Eldin Farouq(Senior Legal Advisor), at RERA, our concerns were explained to him. Meeting was set up between rera and nakheel and both worked together to reschedule the payment plan.
RERA then made it clear to the palm jebel ali club that the new payment plan would be linked to the Construction of the Villas and that the Project will have an Escrow Account and would be fully regulated as per Rera regulations. Nakheel then informed customers payments were on hold as new payment plan was to be announced soon.
Nakheel has fully acknowledged the palm jebel ali club and contacted the club saying they are ready to hear suggestion made by homeowners which is a great way to improve confidence in the Palm Jebel Ali project and this approach can build a strong positive relationship between Nakheel and homeowners as we all have a common goal to achieve the success of the project.
So as you can see group action does work..You can also go to this link to confirm what i am saying
http://www.thenational.ae/article/20090404/BUSINESS/48291446/1005

Thanks for that Jay - closer to BC across the road at JBR, some very determined owners got our service fees down!!! So again, group action does work. Not only that but at Palm Springs, Damac was made to do a u-turn when they cancelled it. Sure there are still issues, but at least the investors will eventually get what they paid for.

And for those who think that Law 9 is not in place go here:
http://blogs.thenational.ae/crane_country/2009/05/dubai-land-department-answers-questions-on-law-no-9.html

And for those that have trouble with comprehension, I will highlight the important bits...

Mohammed Kamal, the head of real estate for the Middle East at Lovells' Dubai office, recently met with Emad Farouq, Senior Legal Counsel at the Dubai Land Department (DLD) to discuss the implications of the recent law and what is in the pipeline from the DLD and Real Estate Regulatory Authority (RERA).

ML: Law No 9 of 2009 is now in force. Can you please explain the main implications of this law and how it affects the termination of SPAs for the sale of off-plan units?

EF: This law seeks to impose a new regime for the termination and payment of damages for SPAs for the sale of off-plan units which will apply retrospectively to all prior SPAs. It will amend the provisions of Article 11 of Law 13 which previously stated that upon termination the maximum damages payable to a developer would be 30% of monies paid to date. The law will also override the administrative circular which was issued by the DLD in 2008. Under Law 9, the developer will be entitled to damages strictly according to the progress of construction for the project regardless of what has been agreed in the SPA. There are 5 categories of damages ranging from no damages (i.e. developer will refund all monies received), in cases where RERA cancels the developer's project, to entitlement to retain all monies received and recover any shortfall if the developer has completed 80% or more of the construction. The intention behind the law is to create a balanced and fair mechanism for the termination of SPAs and assessment of damages. The vast majority of SPAs and arrangements in the market are either vague or unfair, or both. Therefore it was absolutely essential to intervene to provide certainty in the real estate sector going forward.

ML: Can you explain the developer's obligations under Law No.9?

EF: Generally the developer is obliged to issue notices for termination of SPAs through the DLD. The DLD will assess the merits of the case and then decide on whether the developer is justified in terminating the SPA and will also assess the status of construction of the project in order to identify which category of damages will apply. It is important to note that although a developer may be entitled to resell a unit, it must account to the purchaser for any surplus monies it receives once it has received any damages it is entitled to i.e. the developer cannot be unjustly enriched.

Please read the rest of the interview at the aformentioned link.

:cheers:

GLover;

You are a clever guy and know how it works in your part of the world and I have a lot of time for you but please just consider that there is a big difference between an opinion and advice based on facts and I would ask you to be very careful when giving people advice to stop payments.
I can't tell you details about my exact issues with RERA or the legal battles but trust me when I say that unless you have a specific written agreement from them, validated by a reputable law firm, you should not default on any of your commitments. Once you do that, you lose many of your other rights within the contract, even down to a few days late on any payment, a good lawyer will stitch you up, guaranteed.

RERA will have to give (in writing) the developer, clear instructions after assessment visits, negotiations and all the other bollox and give then adequate time to carry out their instructions and that could take months if not years, the developers know that and they just do enough to get RERA off their back. As far as RERA is concerned, SG is one of the good guys (they are continuing to build) and they have many of the bad guys to deal with first. Until this is fully in place, your best type of protection is your S&P agreement / contract.

You know that I am no fan of DS/SG/SP and will never be but I Just thought its worth reminding you of the above :cheers:

MACKIE;
What’s is your advice to this?... SPP customers will get an extension for another’s 3 month by the looks of things. LPP will not be granted a further payment holidays so they should pay the next payment 1st June so they have kept their “contractual obligations” but all customers complain now to rera to force SP/SG to link payments to construction. All customers have kept “contractual obligations” nothing to lose everything to gain!!

Mackie

the facts are clear to me. i made three trips to RERA/the Land department after i defaulted and this is what i came out with. what i stated on this forum is what RERA/the land department has advised me. my experience is backed up by many others who you can read about in the different threads in SSC, and is clearly supported by the experience of the Palm Jebel Ali above.

i have to say, from day one, you did not trust RERA, nor did you trust any group action. so no change here. but for you to raise doubts about the effectiveness of RERA/the Land Department in this issue, you have to provide some evidence, because all the other indications are against you right now.

again, the facts are this, our contracts are governed by the laws of dubai, and the Land Department, the authority entrusted with enforcing these laws, are advising investors that their regulations stipulate that payments should be linked to construction irrespective of the contracts we signed before the new regulations were issued.

it seems to me it is you here who is offering advice backed by no facts!

If I was you, I would make sure that I am up to date with all of my obligations and find an angle to help with the negotiations directly with the developer. I would still get advice from RERA but would negotiate directly with the developer especially if the door is open for negotiations.
Just remember this, RERA wants the developer to continue building and group actions that could harm Dubai reputation is no longer a valid angle. Speak to many Western companies struggling to get their money or do some research into the subject and you will see how far down the line you are.
I think DS/SP/SG and the whole thing sucks but I am having to deal with them just like I do on daily basis with others that I do not respect. I will be visiting the Torch, BC and Point next week and post photos but again, I only represent myself :cheers:

Easssssssssssssssssy guys.

Chill

mackie,

i think you are wrong here, and you still can't provide any evidence that can back up your advice.

my advice to you is it is time for you to join a group since your solo efforts over the last 2-3 years with Select have produced no results whatsoever except meeting the owner. and what did you get from that!!!

Do you really expect me to answer that :dunno:
All the best to you all.
No more from me on this subject:cheers:

seriously, you are advising us here to go solo, but you have been doing this for the last 2-3 years. please share with us what you have accomplished with that!

glover; he knows what we are saying is right.

DxbPC

i am not going to repeat myself here and waist my time with you, because as i said before, your case is hopeless and no matter what the facts are, you look the other way.

i wish SSC have the "place on ignore" feature! you will be the first to go there!

UPDATE: what a joke you are! you just deleted your post (#3844) accusing me of fabricating RERA's rule of linking payments to construction after jaydubai posted his proof.

you are one dodgy character for sure.

ok. thanks for that and thanks for for misrepresenting my point. Prove that your point is right. Post the law here or link too it and we can all read it. Not interested in some guy said, or it was in the newspaper or the land guy makes the rules and not the government. Post the actual law here for us all to read. I cannot find it anywhere. The law i have heard of and may be published soon is law 9 which only clarifies the situation against defaulters and has no mention of payments in line with construction. Which law number are you referring to old chum?

^^^^^^^^^ much better chance of what!! what is your goal here, getting an extension of payment alone! why bother with Select when the law is on your side!

again, the question here should be why other developers are linking payments to construction but not Select even after repeated requests! i would see that as a red flag!


Better chance of getting a delay in payment or havnt you been paying attention. You are so obsessed with your own opinion try shutting up and listening for a change. Keep it to yourself Mackie, let him find out the hard way.

^^^^^^^ well, mackie have been going it alone for over three years now with no results!

hard way my a**, you sure don't know crap about what we are talking about!

it seems that it's you and mackie who should try something new for a change (including keeping your mouth shut, don't mean you here mackie), and let the others do the talking!

ok. thanks for that and thanks for for misrepresenting my point. Prove that your point is right. Post the law here or link too it and we can all read it. Not interested in some guy said, or it was in the newspaper or the land guy makes the rules and not the government. Post the actual law here for us all to read. I cannot find it anywhere. The law i have heard of and may be published soon is law 9 which only clarifies the situation against defaulters and has no mention of payments in line with construction. Which law number are you referring to old chum?

DxbPC has put his finger on the key point. Is there any evidence there is a Law that specifically links payments to construction? If there is, we don't need to know anymore. If there isn't, I think Mackie/CBP comments are valid ie beware of defaulting because SG will use this to their advantage if it suits them.

Law #9 was published a while ago in the official gazette.

http://www.thenational.ae/article/20090506/BUSINESS/705069992/1005

and here

http://www.propertycommunity.com/forum/dubai-property/13856-law-9-out.html

I also posted this a while back, but here it is again...

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

and here is the english version of law 9:
http://dubai-property-investors.googlegroups.com/web/Law+No+9+of+2009+-+Amendment+to+Law+13%2C+Art+11+(ENGLISH).pdf?hl=en&gda=u4eW_XQAAABFqLZ2swyF7aBgt-Ft54YQSoB_b4wFttF4CNAqEcU1YsL3Nrf80S3I0lN81ytV6UnCfbyKjSSaqcTNuv_X_-MT30u0mDDVCjI5Tf0MUQlYCD8XUIYvJODIG1755DMP93BV6u9SiETdg0Q2ffAyHU-dzc4BZkLnSFWX59nr5BxGqA

You need to go here to see all the other files which may help you understand your legal position.

http://groups.google.com/group/dubai-property-investors/files?hl=en

If you lot want to ignore the facts then carry on...

24/May/2009

Bay Central

http://i43.tinypic.com/n6cb50.jpg

http://i44.tinypic.com/263j1ix.jpg

http://i41.tinypic.com/24wqy9s.jpg

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

unbelievable, you have the government agency entrusted with enforcing real estate laws in Dubai saying publicly and to anyone who takes the effort to check with them that their regulations stipulate that payments should be linked to construction, and have forced the biggest government developer Nakhail to link payments to construction, yet you have some people on this forum, some with questionable characters, questioning their authority, with no facts to support them.

who should i trust, some anounoumous posters offering advice on an internet forum who live about three thousand miles away and don't have the language skills of the region (let alone that they can't even understand their contract in english), and holding some sort of bias, OR the facts on the ground that clearly show that RERA/the Land Department meant what they said few months ago when they issued their rule linking payments to construction progress.

let me add something for you here, by law, all contracts in the UAE should be in Arabic. Select, or any other developer for that matter, are violating the law by default when they issue contracts in English only.

Glover,

You are wasting your time mate.

You are better off using your energy to get your own desired goal achieved. I believe that you are right in your thinking regarding RERA etc. Some people in these forums have SP on some kind of pedestal and are in their pockets. Particularly those who live on their doorstep.

I have been through all this group action 'lets march on the office and contact the press' stuff with the Torch, and it soon ran out of steam or people got cold feet come match day. I subsequently went on to negotiate a mutually agreeable solution with the developer using my SPA and other communications from SP/SG etc. No lawyers or RERA needed just a bit of common sence and negotiation skill.

Most of your arguments here are with SP sales staff anyway. It's all a big PR job.

These boys are amatuers, your banging your head against a wall here. Move on.

HT, i am part of an action group of like-minded Select investors, and my posts here are not for those hopeless individuals you referred to. it's for everyone who read these threads and don't post here. and you know that there are a lot of them out there. they should know the facts as they are.

please share with us any success stories you had in dealing with Select on an individual basis. i have tried that with no results, though i am on the LPP.

Law #9 was published a while ago in the official gazette.

http://www.thenational.ae/article/20090506/BUSINESS/705069992/1005

and here

http://www.propertycommunity.com/forum/dubai-property/13856-law-9-out.html

I also posted this a while back, but here it is again...

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

and here is the english version of law 9:
http://dubai-property-investors.googlegroups.com/web/Law+No+9+of+2009+-+Amendment+to+Law+13%2C+Art+11+(ENGLISH).pdf?hl=en&gda=u4eW_XQAAABFqLZ2swyF7aBgt-Ft54YQSoB_b4wFttF4CNAqEcU1YsL3Nrf80S3I0lN81ytV6UnCfbyKjSSaqcTNuv_X_-MT30u0mDDVCjI5Tf0MUQlYCD8XUIYvJODIG1755DMP93BV6u9SiETdg0Q2ffAyHU-dzc4BZkLnSFWX59nr5BxGqA

You need to go here to see all the other files which may help you understand your legal position.

http://groups.google.com/group/dubai-property-investors/files?hl=en

If you lot want to ignore the facts then carry on...

FWIW or Glover - any chance you could copy and paste the bit linking payments to constructiom of those links -- I can't see it i.e. pay 15% when 15% complete(or similar) etc etc ?
I am going to contact RERA to hopefully try to get it in writing (words are not enougn for me ) but would be easier if it is in those links

:banana:I have had a conformation of payment holiday from june to december nil charge and am today contacting them for extension for another for 2010. I am happy with the result and thanks Select Group also Select Property. Not such a bad guys.

MANUTED,

i'll answer you this way, since RERA/the Land Department is the authority entrusted with enforcing the laws of the land when it comes to real estate, then what they say is the law, even if you don't see it in the links provided. their rules are based on the law, and that's enough for me.

if you are not comfortable with that, do your self a favor, call RERA/the Land Department (the legal Center) or visit them if you can and get the information straight from the horse's mouth.

MANUTED,

i'll answer you this way, since RERA/the Land Department is the authority entrusted with enforcing the laws of the land when it comes to real estate, then what they say is the law, even if you don't see it in the links provided. their rules are based on the law, and that's enough for me.

if you are not comfortable with that, do your self a favor, call RERA/the Land Department (the legal Center) or visit them if you can and get the information straight from the horse's mouth.

I wiil do that, and I would feel much more comfortable to have this in writing to prevent any issue with the contract , better safe than sorry - also thanks Audi8 wil do same with SP

Law #9 was published a while ago in the official gazette.

http://www.thenational.ae/article/20090506/BUSINESS/705069992/1005

and here

http://www.propertycommunity.com/forum/dubai-property/13856-law-9-out.html

I also posted this a while back, but here it is again...

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

and here is the english version of law 9:
http://dubai-property-investors.googlegroups.com/web/Law+No+9+of+2009+-+Amendment+to+Law+13%2C+Art+11+(ENGLISH).pdf?hl=en&gda=u4eW_XQAAABFqLZ2swyF7aBgt-Ft54YQSoB_b4wFttF4CNAqEcU1YsL3Nrf80S3I0lN81ytV6UnCfbyKjSSaqcTNuv_X_-MT30u0mDDVCjI5Tf0MUQlYCD8XUIYvJODIG1755DMP93BV6u9SiETdg0Q2ffAyHU-dzc4BZkLnSFWX59nr5BxGqA

You need to go here to see all the other files which may help you understand your legal position.

http://groups.google.com/group/dubai-property-investors/files?hl=en

If you lot want to ignore the facts then carry on...

there is nothing in this list that gives any info about linking payments to progress. FWIW can you point out where this info is?

(likewise per earlier posts there is nothing in our BC contracts that says the developer defaults if the hotel is not built. likewise this forum lacks construction expertise)

much heat and not much light is being generated at present.

Has anybody got any written evidence that states payments and progress have to be linked?

has anyone other than glover got RERA to say this unequivocally?

I can't see a group taking collective action unless there is something in writing

it is clear that individual deals are being done by the developer. It might surprise some who post here (HT for instance) but I haven't bothered because it is not financially important to me. My only real concerns were will BC complete or will SG go bust and I am now happy on both counts.

24/May/2009

Bay Central



thanks for the pictures

- read about the ruling here, dated 14-2-09.

"The rule states that developers must own 100% of the land they are building on, and restricts them from collecting more than 20% of the cost of the property from the buyer prior to construction.

Payments will also be linked to construction milestones being met by the developer."

http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=546640&Itemid=1

- read this interview with Emad Farouq, Senior Legal Counsel at the Dubai Land Department, to discuss Law 13 and its practical application from the perspective of the Land Department, dated 12-May-09.

"What further regulations can we expect following Law 13 e.g. regulation on payment plans being linked to construction milestones?

RERA is working on regulations specifically on the issue of payment plans for installments of the purchase price for off-plan units to be linked to actual construction milestones rather than time-based payment plans. RERA is also working on a regulation that will require developers who wish to apply for consent to start selling off-plan to have paid for the land and received the title deed, and also to have completed at least 20% of the construction of the project at the time of the application. "

http://www.zawya.com/printstory.cfm?storyid=ZAWYA20090512103836&l=103800090512

- and read message #8 in this thread, dated 24-03-09 of one investor who actually got a letter from the Land Department directing the developer to link payments to construction.

"RERA letter to Dubai developers
I've been to RERA this morning
decided to invest some time in getting some answers on off plan
I have purchased a studio from Almasah - Jouri 4
they have collected 45% to date and they started construction this month

So RERA officer gave me a letter stating that developers can not ask more then 30% before construction starts. if the buyer paid more then 30% - then payments must be linked to construction stages. I was told to give this letter to the developer ! let see how it works! I'm gonna visit them sooon

You can get this letter from RERA counter on the ground floor ."

http://www.dubaiforum.net/property-dubai/410-rera-rule.html

-------------------------------------------

what is going on here is that the Land Department has already ruled that payments should be linked to construction, effective few months ago, while working on tightening up the regulatory framework. This is exactly what they did with the 30% deduction rule of the purchase price rather than the paid amounts few months ago, they first issued a ruling then adjusted the regulatory framework, but the ruling was effective immediately.

and that's why other developers are linking payments to construction milestones, because they know this fact.

as i said before, for the SPP, it's a slam dunk that the Land Department will force Select to link payments to construction. what is needed here is a group action. we need to contact the Land Department as a group with this demand.

^^Thanks for this post Glover - very useful - you have the patience of a saint btw...

^^you missed it earlier, charlie big potatoes was trying to harass me earlier with personal attacks, "you bitch like a woman" and so forth. the moderator quickly deleted his posts and my replies to him. this is on top of a PM i got from DxbPC last night calling me a lier. told him not to PM me ever again.

my patience is really running thin with some on this board.

again, i will let the facts speak for themselves. anyone who disagrees should present their own facts!

[QUOTE=glover;37168672]^^you missed it earlier, charlie big potatoes was trying to harass me earlier with personal attacks, "you bitch like a woman" and so forth. the moderator quickly deleted his posts and my replies to him. this is on top of a PM i got from DxbPC last night calling me a lier. told him not to PM me ever again.

my patience is really running thin with some on this board.

again, i will let the facts speak for themselves. anyone who disagrees should present their own facts![/QUOT

Harass, you shouldnt take it personally

http://i41.tinypic.com/sy565z.jpg

listen, i dont know how you do things where you come from, but what you did is harassment in my dictionary, and the moderators saw how offensive it was and thus was deleted pretty much right away.

as i said, i am not here to jerk around with people like you. so in the future, keep your obnoxious unsolicited "advice" to yourself and mind your business.

Harass, you shouldnt take it personally

Any photos

:lol:And I thought this was construction forum :lol:
Lots of handbags flying about :cheers:

hey DxbPC,

why did you leave out the title of your PM from your post above.

Here is the title of your PM: "you are misleading and a liar"

FYI, i didn't even read your message, your title was enough for me to respond in kind because of your constant personal attacks against me in the past, which i warned you about before! and if you do it again, i will respond the same way.

are you about to start these personal attacks again!

:lol:And I thought this was construction forum :lol:
Lots of handbags flying about :cheers:

At least as Premiership champions, you and I can look forward to Wednesday night where hopefully we will be crowned as champions of Europe.

Oh, forgot to say "I absolutly loved it when the geordies went down!"

At least as Premiership champions, you and I can look forward to Wednesday night where hopefully we will be crowned as champions of Europe.

Oh, forgot to say "I absolutly loved it when the geordies went down!"

I said to quote KK "i,d luv it if they went down luv it !! "
tough game weds we will see eh ?

FWIW - Are you invested in this tower ?
I am in 1 bed near the top of Central Tower looking over JBR

- read about the ruling here, dated 14-2-09.

"The rule states that developers must own 100% of the land they are building on, and restricts them from collecting more than 20% of the cost of the property from the buyer prior to construction.

Payments will also be linked to construction milestones being met by the developer."

http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=546640&Itemid=1

- read this interview with Emad Farouq, Senior Legal Counsel at the Dubai Land Department, to discuss Law 13 and its practical application from the perspective of the Land Department, dated 12-May-09.

"What further regulations can we expect following Law 13 e.g. regulation on payment plans being linked to construction milestones?

RERA is working on regulations specifically on the issue of payment plans for installments of the purchase price for off-plan units to be linked to actual construction milestones rather than time-based payment plans. RERA is also working on a regulation that will require developers who wish to apply for consent to start selling off-plan to have paid for the land and received the title deed, and also to have completed at least 20% of the construction of the project at the time of the application. "

http://www.zawya.com/printstory.cfm?storyid=ZAWYA20090512103836&l=103800090512

- and read message #8 in this thread, dated 24-03-09 of one investor who actually got a letter from the Land Department directing the developer to link payments to construction.

"RERA letter to Dubai developers
I've been to RERA this morning
decided to invest some time in getting some answers on off plan
I have purchased a studio from Almasah - Jouri 4
they have collected 45% to date and they started construction this month

So RERA officer gave me a letter stating that developers can not ask more then 30% before construction starts. if the buyer paid more then 30% - then payments must be linked to construction stages. I was told to give this letter to the developer ! let see how it works! I'm gonna visit them sooon

You can get this letter from RERA counter on the ground floor ."

http://www.dubaiforum.net/property-dubai/410-rera-rule.html

-------------------------------------------

what is going on here is that the Land Department has already ruled that payments should be linked to construction, effective few months ago, while working on tightening up the regulatory framework. This is exactly what they did with the 30% deduction rule of the purchase price rather than the paid amounts few months ago, they first issued a ruling then adjusted the regulatory framework, but the ruling was effective immediately.

and that's why other developers are linking payments to construction milestones, because they know this fact.

as i said before, for the SPP, it's a slam dunk that the Land Department will force Select to link payments to construction. what is needed here is a group action. we need to contact the Land Department as a group with this demand.

Thanks Glover for this. To sumarise, RERA are working on a Law to link payments to progress but someone has said you can already get a letter from RERA (their front desk)that confirms this. In other words their Ruling has legal effect and we can demonstrate this

well why doesn't someone get such a letter and publish it on here. This can be a group or an individual. This will stop the doubts and confusion over an important matter

I said to quote KK "i,d luv it if they went down luv it !! "
tough game weds we will see eh ?

FWIW - Are you invested in this tower ?
I am in 1 bed near the top of Central Tower looking over JBR

Yes I am - 2 bed in Central tower, very near top.

i am on the LPP, so it would not be easy for me to get one, if ever. Select can argue i only paid 22%, or the Land Department can say BC has progressed enough to warrant further payments relative to my payment plan.

but for LPP, for those who paid 50% and above, i think all you need to do is take your contract and go to the land department with all the receipts of the money you paid. i have no doubt in my mind that RERA will give you a letter.

and i think one letter for one individual will do it. Select will then be forced to revise payments for all.

so we need someone on the SPP to do it, or a group of SPP investors.

Thanks Glover for this. To sumarise, RERA are working on a Law to link payments to progress but someone has said you can already get a letter from RERA (their front desk)that confirms this. In other words their Ruling has legal effect and we can demonstrate this

well why doesn't someone get such a letter and publish it on here. This can be a group or an individual. This will stop the doubts and confusion over an important matter

Gloves baby, I found a great chip shop near BC, downside is difficult to park. If you fancy doing a bit of dough on one of you flats I sure could do with the parking space, pm me. View not important.

Gloves baby, I found a great chip shop near BC, downside is difficult to park. If you fancy doing a bit of dough on one of you flats I sure could do with the parking space, pm me. View not important.

CBP you can have mine for the "599" -mines got good view too (and near the chip shop:lol::lol:)

i am on the LPP, so it would not be easy for me to get one, if ever. Select can argue i only paid 22%, or the Land Department can say BC has progressed enough to warrant further payments relative to my payment plan.

but for LPP, for those who paid 50% and above, i think all you need to do is take your contract and go to the land department with all the receipts of the money you paid. i have no doubt in my mind that RERA will give you a letter.

and i think one letter for one individual will do it. Select will then be forced to revise payments for all.

so we need someone on the SPP to do it, or a group of SPP investors.

Am in Dubai in June if no-ones made it to RERA by then i,m on SPP and paid 40% so will pop down to the Land dept

CBP you can have mine for the "599" -mines got good view too (and near the chip shop:lol::lol:)


You would struggle with the horses.

You would struggle with the horses.
I am sooo jealous --one day perhaps one day :ohno::ohno:

Worth BC investors reading scooby's posts on the torch thread.

Info from his recent trip can be found here:
http://www.skyscrapercity.com/showpost.php?p=37239264&postcount=9629

if you are serious, check this link.

http://www.dubizzle.com/property-for-sale/apartment/2009/5/19/1-br-in-bay-central-direct-from-owner-15-year-pa/?from_search

Gloves baby, I found a great chip shop near BC, downside is difficult to park. If you fancy doing a bit of dough on one of you flats I sure could do with the parking space, pm me. View not important.

Worth BC investors reading scooby's posts on the torch thread.

Info from his recent trip can be found here:
http://www.skyscrapercity.com/showpost.php?p=37239264&postcount=9629
http://www.skyscrapercity.com/showpost.php?p=37239264&postcount=9650


I read these and don't really get the point as i have the official oqood docs in my possession for registration and only paid 1% for each apartment. Am i missing something?
Laws 7 & 21 cover the fees part and law 13 covers the process. Sounds similar to the recent discussion on here where people that turn up at the land department and are told things that contradict the laws.

^^I am quite sure that not every BC investor has the OQOOD docs as you and I do. Also not everyone has even paid their 1% yet.

...

^^I am quite sure that not every BC investor has the OQOOD docs as you and I do. Also not everyone has even paid their 1% yet.

My understanding of scooby's post was the implication of the registration process being false and made up by SG. This is clearly not the case and they are following process laid down by law. It seems that anytime someone on these forums offers an opinion people run with it just because it suits them often leading to speculation and confusion. Follow the law and you can't go wrong.

^^
Thank you. Agree, absolute dribble being posted on the last 2 pages of this thread, how about some positivity and possibly some pics? As for those people about to gun me down about being positive blah blah dont bother as I dont give a s##t. I have received a payment holiday which I wanted and the thing has workers on site and looks like its getting built (slowly). One could be far worse off, understand the people on LPP are annoyed as well but at the end of the day that was instead of applying for a bank loan and I dont think you would default on a bank loan as easy as not wanting to pay these payments. My worthless 2 cents worth. Have a nice day.

Anybody in west tower sea facing above floor 10 or 11 is going to have an excellent sea view with sunset even after Burj Al fattan is built.

http://i44.tinypic.com/a5hy1g.jpg


SUNSET
http://i40.tinypic.com/2hozixd.jpg

Likewise if you are in central tower above 24 you will have excellent sea view and palm view.

http://i41.tinypic.com/nwgb4x.jpg

Photos were taken first week in May

http://www.skyscrapercity.com/showpost.php?p=37239264&postcount=9650


I read these and don't really get the point as i have the official oqood docs in my possession for registration and only paid 1% for each apartment. Am i missing something?
Laws 7 & 21 cover the fees part and law 13 covers the process. Sounds similar to the recent discussion on here where people that turn up at the land department and are told things that contradict the laws.

Hi DxbPC
i have paid my 1% since oct2008 and keep chasing every 2 weeks they are not replying to any of my phone calls are mails so i am not sure if they not pulled fast one on many investors.
Mirpuri

Hi DxbPC
i have paid my 1% since oct2008 and keep chasing every 2 weeks they are not replying to any of my phone calls are mails so i am not sure if they not pulled fast one on many investors.
Mirpuri

In my opinion i genuinely don't believe them to be this type of company. I am almost certain that you will find that your unit is registered and they haven't processed the paperwork yet. I know there were problems in that they have to register each unit in the oqood system individually. I know it took me some time to recieve the papers too and i have the originals in my possession now. I do undersatnd your concern though as i was the same prior to getting oqood docs. When you say they are not returning your calls are you referring to UK or Dubai [SP or SG?]. In th past 6 months i have been dealing directly with Russell Hayes from SP in UK; he is a director - i find him genuine, very helpfull at all times and a gentleman.
Try here for faq's
oqood - http://www.oqood.ae/presale/oqood/FAQs.pdf

I am more concerned about defaulting investors that overstretched during the boom that are now panicking. These people could bring everything to a halt if they continually refuse to pay / pay on time. My last payment on SPP [i have one on SPP and one on LPP] was in September last year and next one [at present] due in September this year. SP/SG allowed me to negotiate this without any strings. My LPP payments are still due on time but why wouldn't they be. People on LPP have paid significantly less than those on SPP. Should we expect SPP payers and Select to prop us up? NO! It is a loan over 15 yrs. If i had borrowed the money from a bank i wouldn't default so why default on Select? Just my opinion...

^^With regards to your loan comments - I would agree with you if I had bought in the UK. Last time I looked though, UAE is still a Muslim country where Sharia Laws are in place.

^^With regards to your loan comments - I would agree with you if I had bought in the UK. Last time I looked though, UAE is still a Muslim country where Sharia Laws are in place.
No sure why you choose sarcasm. Excuse my ignorance but please explain why it being Sharia means you can default or why UAE law allows default.

Eh?

I wasn't being sarcastic...

UAE does not allow default either. I guess the concept of interest being haram is alien to you. Being on LPP does not mean we should carry on paying even though they could hand over the keys in 5/10/15 years. You may be happy with that, and it would follow the SPA to the letter, but wouldn't really sit nicely with the Islamic way of life.

please do not bring religion into the argument on this forum, you really dont want to go there.......

^^What argument? I have no argument with anyone, I was only discussing some points.

The simple fact is that UAE is an Islamic Country.

FWIW,

Delivery beyond 1 January 2011 is a violation of the contract.

Clause 16.1 of the contract clearly states that the buyer has the right to terminate the contract and ask for a full refund if the Completion Date is delayed beyond 1 January 2011. and this comes on top of Select being in breach of the contract now for not following the laws of the UAE (clause 19.1) when they refuse to link payments to construction and demand payments from purchasers.

anyone here believes this project will be delivered by 1 January 2011! but we all know what will Select will do then, yeap, claim Force Majeure!

Being on LPP does not mean we should carry on paying even though they could hand over the keys in 5/10/15 years. You may be happy with that, and it would follow the SPA to the letter,

^^I think with the passage of a few more weeks/months, a lot of these questions will be answered. We only need to look to the Torch & Point threads for a taste of what may happen.

Eh?

I wasn't being sarcastic...

UAE does not allow default either. I guess the concept of interest being haram is alien to you. Being on LPP does not mean we should carry on paying even though they could hand over the keys in 5/10/15 years. You may be happy with that, and it would follow the SPA to the letter, but wouldn't really sit nicely with the Islamic way of life.

I understand the principles very well but don't understand why you brought it into the conversation. Regardless of religion defaulting may hurt other investors that have paid a lot more than you

I understand the principles very well but don't understand why you brought it into the conversation. Regardless of religion defaulting may hurt other investors that have paid a lot more than you

I only brought it up because it seems unfair to be continuing to charge LPP investors when the goal posts have moved by at least a year. If they said something like we have been delayed by 1 year, but LPP need to keep paying as per SPA until Dec 2009, then LPP holiday until handover, then that would have been a good compromise. Every reasonable person on LPP would have agreed to that. I think even SPP people would have agreed to it to, as it caps off the investment until handover.

Also, I do not worry about other investors defaulting, as it is completely outside of my control. If this does happen then the ESCROW laws are in place to protect other investors and the developer. If the ESCROW laws are not strong enough, not administered correctly, then again not much I can do about that.

Don't see why my posts are taken as attacks. They are not meant that way, just trying to discuss important issues.

DxbPC thinks everyone is attacking him... his only friends are the people at select

DxbPC thinks everyone is attacking him... his only friends are the people at select

Cheers...

I only brought it up because it seems unfair to be continuing to charge LPP investors when the goal posts have moved by at least a year. If they said something like we have been delayed by 1 year, but LPP need to keep paying as per SPA until Dec 2009, then LPP holiday until handover, then that would have been a good compromise. Every reasonable person on LPP would have agreed to that. I think even SPP people would have agreed to it to, as it caps off the investment until handover.

Also, I do not worry about other investors defaulting, as it is completely outside of my control. If this does happen then the ESCROW laws are in place to protect other investors and the developer. If the ESCROW laws are not strong enough, not administered correctly, then again not much I can do about that.

Don't see why my posts are taken as attacks. They are not meant that way, just trying to discuss important issues.

Sunny
Sorry just read as if you were taking the piss...my mistake.
I think we will have to agree to differ on the LPP topic. I think at this stage people should be paying. SPP are due a break as they are ahead of construction with payments. LPP are not. I am on both so it is my balanced opinion.
I recall back last june someome told SPP payers on this forum they were silly as "the LLP with no questions asked is Godsend imo. the money you will pay for one apartment on the SPP can be used, with a little bit more, to buy and pay for 3-4 apartments on the LLP until completion" and disagreed then pointing out the pitfalls. I can and will pay my bills and will [re]negotiate as and when required if further delays come.
Like you i don't worry about too much until it happens. No point.
Mark

Sunny
Sorry just read as if you were taking the piss...my mistake.
I think we will have to agree to differ on the LPP topic. I think at this stage people should be paying. SPP are due a break as they are ahead of construction with payments. LPP are not. I am on both so it is my balanced opinion.
I recall back last june someome told SPP payers on this forum they were silly as "the LLP with no questions asked is Godsend imo. the money you will pay for one apartment on the SPP can be used, with a little bit more, to buy and pay for 3-4 apartments on the LLP until completion" and disagreed then pointing out the pitfalls. I can and will pay my bills and will [re]negotiate as and when required if further delays come.
Like you i don't worry about too much until it happens. No point.
Mark

No probs Mark - I too remember the SPP Vs LPP debate. With the LPP you can see the 'locked-in-profit' the developer is making by Final LPP Price minus Original Price. This is what I mean by Sharia Compliant loan, I think LPP is a type of "Murabaha". I sign up to the higher price, knowing that if bargain is kept then I will be able to move into my home.

As we all know the Developer is based in Dubai and must comply with all relevant laws in Dubai and UAE.

Let me ask you a question; if SP/SG did not offer the LPP, would you have bought another property in Bay Central? I suspect not, you will realize that they have used the LPP as an effective sales technique to increase sales per investor.

Hey DxbPC,

you know i said that, but you just can let it go, can you!

That was June 2008, and unless you were living in a cave somewhere, you realize the world has changed plenty since then, and the real estate market in dubai has crashed and it will take years to fully recover! i see my investment now in BC as dead money, as i said many time before, and Select is partly to blame for that!


I recall back last june someome told SPP payers on this forum they were silly as "the LLP with no questions asked is Godsend imo. the money you will pay for one apartment on the SPP can be used, with a little bit more, to buy and pay for 3-4 apartments on the LLP until completion" and disagreed then pointing out the pitfalls.
Mark

Let me ask you a question; if SP/SG did not offer the LPP, would you have bought another property in Bay Central? I suspect not, you will realize that they have used the LPP as an effective sales technique to increase sales per investor.
I bought it off of someone and it was on lpp. Plan to pay it off as soon as I get keys..in 2013!

^^I too am a long term investor and will keep it until 15 years is paid off.

Who knows what the state of Dubai or the world will be then!

Found this link on new pricing for membership / berths at Yacht Club.
Interestingly the last line read

"With 90 berths coming on line in the newly built West Bay Marina and the commercial 'floating showroom' of 60 berths in front of the Dubai Marina Mall, the 2009-2010 season looks promising for those looking to keep their boats within the sheltered Dubai Marina environment."

Nice view from pool deck and marina facing tenants.

http://www.marinebusinessnews.com/Dubai-Marine-Yacht-Club-creates-new-membership-levels/57122

^^

This is a great news...I knew that somethig will come up there as Gourment Tower path is extended....there will be Marina Water Taxi stop as well....wow:banana:

I bought it off of someone and it was on lpp. Plan to pay it off as soon as I get keys..in 2013!

If you pay off the balance I'm sure SP will give you the keys now!!:laugh:

If you pay off the balance I'm sure SP will give you the keys now!!:laugh:

Why are you such a miserable ****? You must keep trapping your fingers as you lay those kerbs. Watch what your doing!

^^

This is a great news...I knew that somethig will come up there as Gourment Tower path is extended....there will be Marina Water Taxi stop as well....wow:banana:

agreed. Tram stop should be near by as well. They will all want to live at BC (sorry no clumsy kerb layers).

Why are you such a miserable ****? You must keep trapping your fingers as you lay those kerbs. Watch what your doing!

What do you mean "miserable"?

I'm having a great laugh at all your "contributions", keep it up:applause:.

What do you mean "miserable"?

I'm having a great laugh at all your "contributions", keep it up:applause:.

and I really need a laugh today -sob sob :ohno:

What do you mean "miserable"?

I'm having a great laugh at all your "contributions", keep it up:applause:.

that's what kerb layers do they trap their fingers, laugh at all the wrong stuff, support the wrong football team and just generally get it wrong. That's why they are miserable ****s most of the time.

that's what kerb layers do they trap their fingers, laugh at all the wrong stuff, support the wrong football team and just generally get it wrong. That's why they are miserable ****s most of the time.

:nuts::drunk:

Imre - got any new pictures for us?

:cheers:

RERA's progress website:

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

we should watch for an update on this website to give us an indication of RERA's view as to how far construction progress has got at BC. They are inspecting all sites apparently

Paid LPP payment today as it was due 1st June.
Does anyone not intend to make there payments and do you have any reason in law that allows this. If so can you post it here or PM me.
This is not an attempt to open up the old conversations on default it is a legitimate question on legal process backed up by documenation.
Cheers

Mark

...

...

todas persiebly a ke !:nuts:

Wondered if any of you follow the JLT Bonnington Tower thread. The development has a lot of parallels with this one;

British Company
On site Hotel
Hotel "managed" by hotel company.
Residents promised the use of the Hotel facilities.
Apartment owners were lured by the option of leasing their apartments back to the hotel.

Start reading from post #520, The Hotel is now up for sale after owners were fleeced for a fortune to buy approved furniture packs and upgraded kitchens.

http://www.skyscrapercity.com/showthread.php?t=116790&page=26

Just to warn against SP trying this one on you guys and Mr Slowhand getting a nice comission from the proceeds:)

Wondered if any of you follow the JLT Bonnington Tower thread. The development has a lot of parallels with this one;

British Company
On site Hotel
Hotel "managed" by hotel company.
Residents promised the use of the Hotel facilities.
Apartment owners were lured by the option of leasing their apartments back to the hotel.

Start reading from post #520, The Hotel is now up for sale after owners were fleeced for a fortune to buy approved furniture packs and upgraded kitchens.

http://www.skyscrapercity.com/showthread.php?t=116790&page=26

Just to warn against SP trying this one on you guys and Mr Slowhand getting a nice comission from the proceeds:)

Thanks for the info TB. In God We Trust.

Wondered if any of you follow the JLT Bonnington Tower thread. The development has a lot of parallels with this one;

British Company
On site Hotel
Hotel "managed" by hotel company.
Residents promised the use of the Hotel facilities.
Apartment owners were lured by the option of leasing their apartments back to the hotel.

Start reading from post #520, The Hotel is now up for sale after owners were fleeced for a fortune to buy approved furniture packs and upgraded kitchens.

http://www.skyscrapercity.com/showthread.php?t=116790&page=26

Just to warn against SP trying this one on you guys and Mr Slowhand getting a nice comission from the proceeds:)

Well quoted TB. I actually put a deposit on this one at the day of the launch.
When the contract was sent to me the developers had reduced the balcony and apartment size by about 200 sq foot from the original sent to me. their excuse was that nakheel did not accept their original floor plans. They then offered me a free furniture pack on completion.I just asked for my money back which they did after 6 weeks.Thank god.
:banana:

i dont understand why some F****** Idiots Celebrate when they receive Bad news about BC based on false assumption and
always feel misrable when receive good news based on hard fact and

the most funny thing is they have nothing to do with BC...what a ****** ******

http://i42.tinypic.com/nx84g2.jpg

Taken from GH this is west tower.

http://i39.tinypic.com/2h3mw3m.jpg

http://i41.tinypic.com/imkxh5.jpg

http://i40.tinypic.com/34e2tt0.jpg

http://i40.tinypic.com/2e1ezi1.jpg

http://i43.tinypic.com/30k3bza.jpg

http://i42.tinypic.com/1z1h5r6.jpg

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

^^Thanks Pete :applause:

Any progress on the hotel tower?

Little or nothing, I will post later, this is real hard work. We all need to applaude Imre for his work. Its 47 degrees and you need to walk miles and miles to get good positions.:applause: to Imre and all the rest who add to the forum

And thank you CBP, obvious progress since last pics posted, presume piling going on at a reasonable pace for the hotel tower, 47 degree´s wow, one way of working up a thirst for bar 44 or if your lucky the freebies in the lounge next door:cheers:

Well quoted TB. I actually put a deposit on this one at the day of the launch.
When the contract was sent to me the developers had reduced the balcony and apartment size by about 200 sq foot from the original sent to me. their excuse was that nakheel did not accept their original floor plans. They then offered me a free furniture pack on completion.I just asked for my money back which they did after 6 weeks.Thank god.
:banana:

Lucky escape

i dont understand why some F****** Idiots Celebrate when they receive Bad news about BC based on false assumption and
always feel misrable when receive good news based on hard fact and

the most funny thing is they have nothing to do with BC...what a ****** ******

Here comes Another one

Wow this looks like good progress...

Great progress - can anyone confirm which floor they have now reached?
Big thks too for the photos


ianthy

thanks for nice pics CBP... good progress :)

3rd tower.... ?? it's anybody's guess !



....

Big thank you CBP for nice photos
mirpuri

^^Mirpuri - I sent you a Private Message; Did you get it? [Top right of screen]

Thanks for the pictures. It appears from the pictures that the west tower has reached up to 10th Floor (First 3-4 floors are part of basement). If progress continues at this rate can BC finish the project according to their schedule? Can any body with experience in construction provide some light?

They poured another floor during the night on both towers.

Not sure if it's a trick of the light but 7th floor of West towers looks well off the level.

http://i41.tinypic.com/34tdhc1.jpg

TB Its my amature photography.

http://i39.tinypic.com/14pjjo.jpg

http://i41.tinypic.com/34tdhc1.jpg

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

http://i39.tinypic.com/2km3hu.jpg

:)thanks a lot CBP for brilliant pics andyour effort walking around in 47 degree temp.just a bit hotter than UK.

Wondered if any of you follow the JLT Bonnington Tower thread. The development has a lot of parallels with this one;

British Company
On site Hotel
Hotel "managed" by hotel company.
Residents promised the use of the Hotel facilities.
Apartment owners were lured by the option of leasing their apartments back to the hotel.

Start reading from post #520, The Hotel is now up for sale after owners were fleeced for a fortune to buy approved furniture packs and upgraded kitchens.

http://www.skyscrapercity.com/showthread.php?t=116790&page=26

Just to warn against SP trying this one on you guys and Mr Slowhand getting a nice comission from the proceeds:)

TB is not an investor in BC. He is just a miserable ++++. Its the new bridge in front of his apartment that has upset him again. There is nothing in SGs track record to say we are going to get ripped off. Yes there has been delays but this is not uncommon. The Point is nearly complete, progress is being made on Torch and BC. Can,t see a major multinational like Marriot getting ripped off. Like I say he is just a miserable jealous ++++.

:)thanks a lot CBP for brilliant pics andyour effort walking around in 47 degree temp.just a bit hotter than UK.

pics much appreciated. thanks

further good progress

http://i39.tinypic.com/14pjjo.jpg

Has BC now overtaken Silverene?

^^ dont think so.. silverene has a completed basement podium

^^ And no additional tower with just started piling.

Just been giving Microsoft Photsynth a whirl...

Have a look here:
http://photosynth.net/view.aspx?cid=2096765B-19FE-49A1-8E1A-6E9C9DB6735D

^^ its good.. placing all pictures on each other too make one complete one

No one is jealous guys, very pleased that Bay Central is catching up and even overtaking my Silver towers.

You guys might even get snagging / completions dates before us. :cheers1:

Really great technology - love the way you can 'zoom' in.

Do you think Imre will be able to take 3 shots per construction site visit, and the reverse and sides....then we can zoom in and around to our hearts content!!!

Will try and add Pete's pics to this collection to see if the close ups work.

No one is jealous guys, very pleased that Bay Central is catching up and even overtaking my Silver towers.

You guys might even get snagging / completions dates before us. :cheers1:

You'll be invited to the BC party!

:banana:

^^Thanks

Had some fun with Pete's pics!

http://photosynth.net/view.aspx?cid=35D6DDD3-A905-4DAC-A51A-2D24C111B02F

^^Mirpuri - I sent you a Private Message; Did you get it? [Top right of screen]

no i am sorry i did not get any message i am not good with PC i can get arround very basic things
Mirpuri

TB Its my amature photography.

No, not the top level about 4 floors below it looks like it is sloping to the front of the building. You can clearly see that the apartment below has much less headroom than the apartment above. The spacing between the floors looks uneven arounf the 7th floor slab for some reason:dunno:

I think it could be a trick of the light caused by the table form being jacked down to strip it out and the light is hitting this while the concrete floor is in the shade. If you follow me:dunno: There are step ups on the front corner of Central tower around the same level but can't work out what they are for.

Another picture in a few days should clear it up.

http://i42.tinypic.com/1z1h5r6.jpg

TB is not an investor in BC. He is just a miserable ++++. Its the new bridge in front of his apartment that has upset him again. There is nothing in SGs track record to say we are going to get ripped off. Yes there has been delays but this is not uncommon. The Point is nearly complete, progress is being made on Torch and BC. Can,t see a major multinational like Marriot getting ripped off. Like I say he is just a miserable jealous ++++.

Pay attention, being an investor has nothing to do with this forum!! Bay Central owners have no control or any other special rights on this thread.

I made a valid point about Bonnington Tower for the reason that I suspect that SP might try to market furniture, fixtures and fitting on the same grounds of being necessary if you want your apartment to be serviced by the hotel. What you are saying is that SP would never do this as they are so honest.

You are just a sheep, so quit the bleatin'.

04/June/2009

Bay Central

http://i44.tinypic.com/1on18x.jpg

http://i43.tinypic.com/2zs9zb4.jpg

http://i41.tinypic.com/316nqmg.jpg

http://i44.tinypic.com/hry146.jpg

http://i42.tinypic.com/243g9bq.jpg

http://i41.tinypic.com/23sz0o9.jpg

http://i41.tinypic.com/118hlqu.jpg

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

http://i43.tinypic.com/2dvlt28.jpg

http://i43.tinypic.com/2qmj3av.jpg

^^Imre - :applause: - you are a star!

Here's the synth...

http://photosynth.net/view.aspx?cid=BCEAF94C-A626-4CE8-90D1-331708974895

it looks like we are doing about one floor a week! hope this pace, or somewhere around it, continues throughout the summer

thanks guys for all the pictures.

may 2
http://img29.imageshack.us/img29/8316/ofygqh.jpg (http://img29.imageshack.us/my.php?image=ofygqh.jpg)


June 4
http://img19.imageshack.us/img19/4091/jfhljp.jpg (http://img19.imageshack.us/my.php?image=jfhljp.jpg)

What a fantastic picture:

http://i41.tinypic.com/1zmm80x.jpg

http://i41.tinypic.com/9a7rwn.jpg

it looks like we are doing about one floor a week! hope this pace, or somewhere around it, continues throughout the summer


maybe west tower could top out around december 2009

Fantastic seaview from front and side of west tower

04/June/2009


http://i41.tinypic.com/316nqmg.jpg



Great photos and great progress.

Have a lood at marina thread fir more excellent photos from Imre and Mackie

The photos just get better and better - thanks guys! Any idea what floor the West Tower has reached?

ianthy

Thanks Imre,CBP and other great photographers....

Anyone has hotel tower close up photos ???/

http://i39.tinypic.com/2m7hh7a.jpg

http://i43.tinypic.com/ie17yg.jpg

http://i40.tinypic.com/2qd4l5x.jpg

Thankyou ALL for the great photos :)

Its very much appreciated and taking into consideration the high temps of Dubai and for some of us who are millions of miles aways

http://i41.tinypic.com/bjdb8g.jpg

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

http://i40.tinypic.com/jg1jk7.jpg

http://i43.tinypic.com/2z7h4ap.jpg

http://i41.tinypic.com/2r23ts8.jpg

http://i40.tinypic.com/33e4vwg.jpg