The key reason why the UK service stopped was because of the continual threatening harassment behind the scenes from the likes of Mistermark, Mackie and the other selfish ****s looking for a special deal for themselves.

Please either provide supporting evidence for your claim or withdraw it.

By the way, what do you do for a living? Just wondering...

Please either provide supporting evidence for your claim or withdraw it.

By the way, what do you do for a living? Just wondering...

Wouldn't it be nice if people stop exchanging personal attacks and remarks here? Actually Morris was attacked here, for no real reason.

In reality we will never know why the UK office stopped providing their service.

There are many possibilities - getting fed up with getting shit from people; not thinking this offers any benefits when they can't sell to those clients; a contract that ran out; or SG deciding it's cheaper to do this themselves. The UK service was good while it lasted but we are still better off than many other investors in other projects.

In any case, I for one as a buyer in this project am fairly happy with overall progress in the last 6 months - I remember Christmas last year I really feared about this project, but progress has since been steady unlike many others around the marina.

Yes, there are glitches - the project is late, no progress on the hotel tower , concerns about some finishes in another development by SG and customer service issues. However on the flip side it looks like the market is getting a little better and when BC is completed I am sure we will have all made a good investment. :banana:

its going up.. not on hold so its good..

Well done DxbPC on your share purchase. I am nothing like TB, he has a fantastic amount of construction knowledge, I just speculate! Morris check the TP thread theres a number for you. Even you are calling it the East tower now.

:weird:

I call it the East Tower because that's what it is. There's the West, Central and East towers. Sometimes I refer to it as the Hotel Tower as well.

Wouldn't it be nice if people stop exchanging personal attacks and remarks here? Actually Morris was attacked here, for no real reason. THESE ARE NOT PERSONAL VENDETTAS BUT I AM JUST REPORTING THE FACTS SO EVERYBODY KNOWS. YOU ARE NAIVE IF YOU DON''T SEE WHAT THE SELFISH ONES ARE UP TO

In reality we will never know why the UK office stopped providing their service. I DO FOR CERTAIN FOR THE REASONS PREVIOUS STATED.

There are many possibilities - getting fed up with getting shit from people; not thinking this offers any benefits when they can't sell to those clients; a contract that ran out; or SG deciding it's cheaper to do this themselves. The UK service was good while it lasted but we are still better off than many other investors in other projects.YES WE ARE BETTER OFF. THIS IS MY MAIN POINT

In any case, I for one as a buyer in this project am fairly happy with overall progress in the last 6 months - I remember Christmas last year I really feared about this project, but progress has since been steady unlike many others around the marina. AGREED. SMART ASSESSMENT. MOST NEGATIVE COMMENTS COME FROM NON-INVESTORS

Yes, there are glitches - the project is late, no progress on the hotel tower , concerns about some finishes in another development by SG and customer service issues. However on the flip side it looks like the market is getting a little better and when BC is completed I am sure we will have all made a good investment. :banana: AGREED. FITTINGS WILL BE BETTER THAN TP AND TT. WE WILL HAVE EVIDENCE SOON FOR ALL TO SEE

Why do you imagine fittings will be better than TP or TT?

It's said TT will be better than TP but there isn't any real evidence of that. A few pictures that don't show close up the quality of workmanship or finish don't prove it to my satisfaction anyway.

It would be nice to think that the developer will learn something each time he hands a project over and that each successive project finish will be better than the last, - but there is really no basis to that somewhat whimsical idea.

I think you're dreaming if you thing that BC will be better quality than TP, TT or any other simlilar project which DCE have built. It's going to be more or less the same I'm afraid, - but provided the location of the building and the common areas are ok you can fix the rest without too much difficulty.

I am sure we are not aware of the true reasons behind the Uk service shutting down but am pretty sure its not because of a few plonkers causing grief to them. I have the capital to pay the next premium now but why the hell should I when they have officially delayed the build by 1 year (we know it will be more) and the capital can be invested elsewhere in the meantime.
I have been Emailing to Dubai from 5 weeks ago with zero reply so one option is not to pay until I hear from them. They need to start communicating to investors ASAP.

I agree with you in the above.

I am also on the standard plan. And have had no replies from my queries in relation to the next payment which we know is due on 1st Sept.

Why do you imagine fittings will be better than TP or TT?

It's said TT will be better than TP but there isn't any real evidence of that. A few pictures that don't show close up the quality of workmanship or finish don't prove it to my satisfaction anyway.

It would be nice to think that the developer will learn something each time he hands a project over and that each successive project finish will be better than the last, - but there is really no basis to that somewhat whimsical idea.

I think you're dreaming if you thing that BC will be better quality than TP, TT or any other simlilar project which DCE have built. It's going to be more or less the same I'm afraid, - but provided the location of the building and the common areas are ok you can fix the rest without too much difficulty.

Agree with you Yousuf 27,BC investors dream on ! if you think you are going to get a 5 star finish,no way ! you might get a few chrome fittings if your lucky, just to compensate for the high AED per SQ FT you guys paid...

MOAF

AGREED. FITTINGS WILL BE BETTER THAN TP AND TT. WE WILL HAVE EVIDENCE SOON FOR ALL TO SEE

Select group spin at work here !

Can someone remind me why spp buyers bought here rather than buying a completed apartment several years back?

Because prices were sky high for completed apartments and that is if you could get hold of one, not many people were selling completed apartments at a non-ridiculous price!

Paul

Why do you imagine fittings will be better than TP or TT?

It's said TT will be better than TP but there isn't any real evidence of that. A few pictures that don't show close up the quality of workmanship or finish don't prove it to my satisfaction anyway.

It would be nice to think that the developer will learn something each time he hands a project over and that each successive project finish will be better than the last, - but there is really no basis to that somewhat whimsical idea.

I think you're dreaming if you thing that BC will be better quality than TP, TT or any other simlilar project which DCE have built. It's going to be more or less the same I'm afraid, - but provided the location of the building and the common areas are ok you can fix the rest without too much difficulty.


Whereas I wouldn't agree with Slowhand unblinkered optimism normally
- he is right for once about the fitments
- give it a few weeks we will see

- Hotel Tower - jurys out though
- need it in writing on a binding contract IMO

Can someone remind me why spp buyers bought here rather than buying a completed apartment several years back?

im on the standard plan and have no plan of paying my sept 09 payment...
im going to default untill RERA give me 30 days to pay.. as they can only cancel my contract select cant do nothing..

select can send as many late payment notices they want...


i bought around sept 07 and completed units were around 1.7m then

im on the standard plan and have no plan of paying my sept 09 payment...
im going to default untill RERA give me 30 days to pay.. as they can only cancel my contract select cant do nothing..

select can send as many late payment notices they want...


i bought around sept 07 and completed units were around 1.7m then

I imagine you have researched your chosen plan of action re the payments very carefully. I personally would be a bit nervous about doing what you're intending to do though. The developer's interpretation of the contract may not be the same as yours and we have seen with this developer before that they have a very creative way of interpreting some clauses! Your statement that "Select can do nothing" may be a dangerous one. Ultimately you may well be right but be ready for a gut wrenchingly bumpy ride on the way to getting what you want!

Question I guess for most people is what you are hoping to achieve by playing hard ball, not paying in September and waiting till you start getting RERA default letters.

From a financial point of view, I assume you have the money to pay in September and you just have better use for it. I thought about this as well. Obviously I need to keep the cash accessible in case I get this horrible default letter and I need to pay up, and also I would choose an investment that can't go down as I am not interested in risking the money I have in my account to pay for my property. A deposit account sounds like a good option without risk.

I would get 2%-3% per year in interest, that's about £75 per quarter for each £10,000 I don't pay. Even if I were to get 6% return on my money with some Icelandic account or something (!), that's still a petty amount not worth the hassle of getting red letters, default letters, RERA letters or anything like that.

Plus if I even have to speak to a lawyer once in this quarter when I get some letter that does worry me, that would set me back £500 and eradicate all my interest income.

From a risk point of view, I understand that I am more protected by not having paid so much for an unfinished project, but I have no doubt in my mind this project will get built (call me stupid if you want). On the other hand, I am not sure at all that by not paying I am protecting my investment, as I am not sure at all that the RERA default process will be followed by this developer, or even how this works.

I know I can find out how this works but unless I have a lawyers letter saying I am fully protected so I can sue them if I am not, then I won't risk it. Getting said letter would of course cost money as well!

Question I guess for most people is what you are hoping to achieve by playing hard ball, not paying in September and waiting till you start getting RERA default letters.

From a financial point of view, I assume you have the money to pay in September and you just have better use for it. I thought about this as well. Obviously I need to keep the cash accessible in case I get this horrible default letter and I need to pay up, and also I would choose an investment that can't go down as I am not interested in risking the money I have in my account to pay for my property. A deposit account sounds like a good option without risk.

I would get 2%-3% per year in interest, that's about £75 per quarter for each £10,000 I don't pay. Even if I were to get 6% return on my money with some Icelandic account or something (!), that's still a petty amount not worth the hassle of getting red letters, default letters, RERA letters or anything like that.

Plus if I even have to speak to a lawyer once in this quarter when I get some letter that does worry me, that would set me back £500 and eradicate all my interest income.

From a risk point of view, I understand that I am more protected by not having paid so much for an unfinished project, but I have no doubt in my mind this project will get built (call me stupid if you want). On the other hand, I am not sure at all that by not paying I am protecting my investment, as I am not sure at all that the RERA default process will be followed by this developer, or even how this works.

I know I can find out how this works but unless I have a lawyers letter saying I am fully protected so I can sue them if I am not, then I won't risk it. Getting said letter would of course cost money as well!

this is a sensible analysis. Your only protection if you don't pay on time is RERA. If you default the developer will be able to do what they want in practice and what will you do then? Sue them when they have sold your apartment to someone else and closed down the SPV that is developing BC!

The contract clearly states that it is governed by the applicable laws in Dubai and the UAE. RERA has said many times publicly and to anyone who cares to contact them, that the laws of the land mandate that developers link payments to construction, regardless of when the contract was signed. Therefore, Select is clearly in breach of the contract by not linking payments to construction. For investors on the LLP, this is a clear cut case. The burden is on Select here, not the investor.

No developer can sell any off-plan apartment today without registering it with RERA. If Select attempts to sell an apartment already sold, and where the original contract was not canceled by RERA, as the law stipulates, Select could end up paying fines/lose their license. The original owner would still own the property, because the sale would not be recognized by RERA.

anyone who tries to scare investors otherwise will only encourage Select and their like to use and abuse, anyway possible, binding contracts!

this is a sensible analysis. Your only protection if you don't pay on time is RERA. If you default the developer will be able to do what they want in practice and what will you do then? Sue them when they have sold your apartment to someone else and closed down the SPV that is developing BC!

Yes, I agree entirely. This would be exactly my fear going the Beppe route! I don't think it's worth the stress if you have the money available. I too have little doubt regarding the completion of this project. It will get done and the developer will get to the end by being very hard nosed - even ruthless - with the investors. I think he believes this will be the secret of his success - or maybe survival - in the present market!

No developer can sell any off-plan apartment today without registering it with RERA.

Well it's precisely for this reason that I worry about putting all my eggs in RERA's basket by not paying.

I know for a fact that there are developers in dubai as we speak doing such sales and not registering anything whatsoever. I don't know how and if they get away with it, I don't know if they pay fines or bribes or whatever. All I know is at the end of the day this is what's happenning, and RERA could not care less about concerns of investors in a late project when there's so many on hold ones to keep them busy.

I have done business in developing countries for many years (and I come from Bulgaria) and my experience is that when things get tough, you have to remember that no RERA will be there to protect you. Government authorities and developers will work hand in hand and in a way it is in the interest of the project being built (and therefore of RERA) that people pay on time. This will be one more reason why RERA will be turning a blind eye to developers being hard nosed in this climate.

Just my opinion anyway. At the end of the day everyone will have their own investment strategy, but since many have shared their useful thoughts, I thought I'd share mine!

are you referring to off-plan sales where the units were sold before, and then developers canceled the contract for some reason or another without going through RERA, and sold them again! or are just saying off-plan units in general! there is a huge difference between the two.

you should do what you are comfortable with, but don't try to scare investors here, without any facts, to the advantage of developers .

I know for a fact that there are developers in dubai as we speak doing such sales and not registering anything whatsoever.

are you referring to off-plan sales where the units were sold before, and then developers canceled the contract for some reason or another without going through RERA, and sold them again! or are just saying off-plan units in general! there is a huge difference between the two.

you should do what you are comfortable with, but don't try to scare investors here, without any facts, to the advantage of developers .

All I am saying is that I know that if you call up a developer with offplan units for sale, they will sell them to you and RERA won't be involved.

I don't know about how developers cancel contracts and what's involved with this. All I am saying is that if they were to sell your unit to someone else and not go through RERA, it would be a mountain to climb to claim your rights, and one that may not be worth climbing for the sale of a little bit of interest earned. As a matter of fact it may be worth calling RERA and saying your developer just cancelled your unit and sold it to someone, and see where you get to with their reaction.

I am really not trying to scare investors and definately not interested in the benefit of developers, I am an investor in this project as well. I am just sharing my thought process with things that made me decide my actions after having some of the same thoughts other investors might have been having.

i totally disagree with you here! there are numerous examples where RERA did plenty to help investors.

if you have no faith in the laws of Dubai/UAE (RERA is part of that), you shouldn't have invested here in the first place imo.


I don't know about how developers cancel contracts and what's involved with this. All I am saying is that if they were to sell your unit to someone else and not go through RERA, it would be a mountain to climb to claim your rights, and one that may not be worth climbing for the sale of a little bit of interest earned. As a matter of fact it may be worth calling RERA and saying your developer just cancelled your unit and sold it to someone, and see where you get to with their reaction.

I do trust RERA will or may do something. But it may take a while and I may have to call them 100 times or go there in person or involve a lawyer which would cost time and money.

Basically all things that would cost me time and money for the sake of earning a little bit of interest of my cash, which as I explain I worked out at £75 per £10,000 per quarter. I don't think it's worth the hassle.

I don't have full faith in any place's legal system always being there to protect me. Particularly not the legal system of a muslim country protecting me when I don't pay my debts as they fall due. I don't think this makes me a bad investor though.

I don't trust the chinese legal system either but made a bit of money therelast year on a small investment I had. I do trust the UK system more and have more investments there. Guess where I made more money last year...

Anyway I won't talk about this anymore as I don't really want to convince anyone. I hope my thoughts have been insightful to some, at the end of the day we can all make our own decisions and we won't know who was right until after we've made them.

i totally disagree with you here! there are numerous examples where RERA did plenty to help investors.

if you have no faith in the laws of Dubai/UAE (RERA is part of that), you shouldn't have invested here in the first place imo.

I now what you're saying Glover but trusting the law of the land is only part of the risk and reward calculation when someone is investing. Plenty of people have made loads of money in places which are extremely dodgy as regards any sort of legal protection. It depends on your attitude to risk and they do say Fortune favours the Brave!!

.....ahem, not that many of us are making a packet here right now!! :lol:

its plain and simple.. select cannot default you without going to RERA and them giving you 30 days to pay up..

Select wont even go to them as they are so far construction in line with payments on the standard plan.. 75% paid and only 30% built

if people are scared/shitting them self then just pay on time.. everyone has there own idea on here..

i have the money to pay up but im not gona pay until the last moment i need to..

It seems very clear to me. If you have WRITTEN agreement with either rera or SG for a delay of payments hen you are covered. If you do not have a written agreement you surely must keep yourself right by paying as per the SPA.
Also...if everyone followed the not paying route this would jeopordize the developement. People must do things the correct wAy or they leave themselves wide open.
Beppe keep yourself right and protect our investment.
Surely this is simple. Written agreement. By the wAy I have An lpp and I would say payments are behind construction now. I have an spp and they are in advance of constrution

i have been told that a written letter is available from RERA to give to select once they demand payment

yesterday

http://i32.tinypic.com/o9frdg.jpg

http://i30.tinypic.com/33u78tx.jpg

http://i26.tinypic.com/29fpemw.jpg

Can someone remind me why spp buyers bought here rather than buying a completed apartment several years back?

The SGG promotional angle of the apartments having a 5-star hotel in the same complex... thats for one.... 5 star finish .... The location ...

i have been told that a written letter is available from RERA to give to select once they demand payment
Get it now then and not when it's too late. Keep yourself right.

From what I see, this is one of the best situated projects in the entire Marina. Got the name right that's for sure! lol A good investment I would think. :)

i have been told that a written letter is available from RERA to give to select once they demand payment

Beppe are you on SPP or LLP ?

Beppe are you on SPP or LLP ?

SPP

From what I see, this is one of the best situated projects in the entire Marina. Got the name right that's for sure! lol A good investment I would think. :)

french girls are the best

its plain and simple.. select cannot default you without going to RERA and them giving you 30 days to pay up..

Select wont even go to them as they are so far construction in line with payments on the standard plan.. 75% paid and only 30% built

if people are scared/shitting them self then just pay on time.. everyone has there own idea on here..

i have the money to pay up but im not gona pay until the last moment i need to..

if you default on the contract then SP can sell your property

RERA may or may not intervene. Has anyone got any evidence that they have or do?

SG are one of the developers that are competing their projects (TP, TT and BC is the evidence)

given this do you think that SG are top of RERA's list of concerns?

nope, neither do I

I have friends who leave stuff to the last minute eg telephone bills, paying for holidays, overdrafts etc. Usually they come unstuff on one or more occasions and have tales of how they have been unfairly treated etc. They are the ones that play online poker and spreadbet stocks and shares and buy most things on credit. Usually ends in tears and this is so predictable

do you really want to come unstuck with BC with what is at stake financially? what do you gain by breaching your contract? the reality is that the majority of BC apartments have been sold on SPP(FACT) and so BC is well funded already

if you take a chance without agreement of SG (which is likely to be forthcoming) your judgement is very,very poor and your are taking a massive risk

who cares, it your choice but don't ever whinge on here if it goes wrong. It will be a case of I told you so

it is like investors who are paying by LPP and object to signing SG's addendum. The solution is obvious take out a mortgage and pay SG in full. Problem over.

if you default on the contract then SP can sell your property

RERA may or may not intervene. Has anyone got any evidence that they have or do?

SG are one of the developers that are competing their projects (TP, TT and BC is the evidence)

given this do you think that SG are top of RERA's list of concerns?

nope, neither do I

I have friends who leave stuff to the last minute eg telephone bills, paying for holidays, overdrafts etc. Usually they come unstuff on one or more occasions and have tales of how they have been unfairly treated etc. They are the ones that play online poker and spreadbet stocks and shares and buy most things on credit. Usually ends in tears and this is so predictable

do you really want to come unstuck with BC with what is at stake financially? what do you gain by breaching your contract? the reality is that the majority of BC apartments have been sold on SPP(FACT) and so BC is well funded already

if you take a chance without agreement of SG (which is likely to be forthcoming) your judgement is very,very poor and your are taking a massive risk

who cares, it your choice but don't ever whinge on here if it goes wrong. It will be a case of I told you so

it is like investors who are paying by LPP and object to signing SG's addendum. The solution is obvious take out a mortgage and pay SG in full. Problem over.

Hey Slowhand those rose tinted glasses working well for you ??
Wish I was as clever as you:lol::lol:

- most people are looking for a break in difficult times and SG will realise this if talked to reasonably but the Addendum is not right and most people will just sign it without even questioning it unfortunately
- there are issues which only paying it off will clear therefore defeating the object of taking it out in the first place ??

Progress on BC is OK
- should move faster after Ramadan and weather is cooler
- looking forward to seeing show apartment
- I am over end Aug hope its ready by then

french girls are the best

I usually hear this directly before "same again?" :laugh: :D

@BC: So, is the hotel due to open before the towers are handed over? Or all at once?

I am genuinely interested to hear how/why BC investors seem to know that they will have better fitted out apartments - better finish, better fittings, better quality - than TP, and TT investors will get at those developments.

I'm intrigued by the suggestion that "all will be revealed in a few weeks." Does this relate to the show apt being ready perhaps?

I say "way to go you" if you've managed to secure something better but I am intrigued as to why SG / DCE should be offering to build you something better when they probably don't have to. I assume your SPA indicates roughly the same fit out as the SPA's do for TP and TT?

french girls are the best

Thai girls are cheaper. One day you will get it right:lol:

I usually hear this directly before "same again?" :laugh: :D

Which pub do you work in love ?

I am genuinely interested to hear how/why BC investors seem to know that they will have better fitted out apartments - better finish, better fittings, better quality - than TP, and TT investors will get at those developments.

I'm intrigued by the suggestion that "all will be revealed in a few weeks." Does this relate to the show apt being ready perhaps?

I say "way to go you" if you've managed to secure something better but I am intrigued as to why SG / DCE should be offering to build you something better when they probably don't have to. I assume your SPA indicates roughly the same fit out as the SPA's do for TP and TT?

Yousuf SG's reputation has suffered over TP and TT
- they have to put the next towers right
- I think they will
- time will tell
l- At any rate we ain't got a choice other that to believe
- I happen to believe what I,m being told now

Thai girls are cheaper. One day you will get it right:lol:

hey, there is a difference between best and cheapest

I was just referring to their looks and accent of course nothing else :)

if you default on the contract then SP can sell your property

RERA may or may not intervene. Has anyone got any evidence that they have or do?

SG are one of the developers that are competing their projects (TP, TT and BC is the evidence)

given this do you think that SG are top of RERA's list of concerns?

nope, neither do I

I have friends who leave stuff to the last minute eg telephone bills, paying for holidays, overdrafts etc. Usually they come unstuff on one or more occasions and have tales of how they have been unfairly treated etc. They are the ones that play online poker and spreadbet stocks and shares and buy most things on credit. Usually ends in tears and this is so predictable

do you really want to come unstuck with BC with what is at stake financially? what do you gain by breaching your contract? the reality is that the majority of BC apartments have been sold on SPP(FACT) and so BC is well funded already

if you take a chance without agreement of SG (which is likely to be forthcoming) your judgement is very,very poor and your are taking a massive risk

who cares, it your choice but don't ever whinge on here if it goes wrong. It will be a case of I told you so

it is like investors who are paying by LPP and object to signing SG's addendum. The solution is obvious take out a mortgage and pay SG in full. Problem over.



yeah your right its my choice what i doo.. like its your choice too be a select bum licker..

Yousuf SG's reputation has suffered over TP and TT
- they have to put the next towers right
- I think they will
- time will tell
l- At any rate we ain't got a choice other that to believe
- I happen to believe what I,m being told now

Regarding TT I was told by SP - the UK arm - that the developer realises that TP snagging / handover had been going very badly and since TT is a much larger project they realise they have to get this right - or at least to do significantly better than they've done so far at TP.

Some more recent photos of an apt at TT suggest that the quality is not bad, - but I say that with some reservation since the pictures definitely do not show the type of finish or cutting edge interior design we were sold when we invested.

With respect to BC I was only wondering if there was something more concrete in the expectation that you would be delivered the premuium product you were sold rather than something which is merely acceptable but not much more.

^^ i was told repeatedly by SG when i bought my apartments in Oct 2007 that the finishing quality will better than TP due to the hotel presence!

not that i trust any of that now, but my contract says graniti tiles for the entrance & living room! could this be a hint of better finishing! just a thought!

14th Aug

http://i32.tinypic.com/mkhyu0.jpg

yeah your right its my choice what i doo.. like its your choice too be a select bum licker..

:lol::lol::lol:

Regarding TT I was told by SP - the UK arm - that the developer realises that TP snagging / handover had been going very badly and since TT is a much larger project they realise they have to get this right - or at least to do significantly better than they've done so far at TP.

Some more recent photos of an apt at TT suggest that the quality is not bad, - but I say that with some reservation since the pictures definitely do not show the type of finish or cutting edge interior design we were sold when we invested.

With respect to BC I was only wondering if there was something more concrete in the expectation that you would be delivered the premuium product you were sold rather than something which is merely acceptable but not much more.

This is what is being said. I think we should just wait to see the pictures and/or video that will be taken in the show apartment. Apparently some improvements are being made now to the finishings and, when finished, which won't be long, everyone will be sent photos or a video of the final product.

So, in theory, we will all know well in advance what we are going to get. This should put us in a position to sort it before the event if we are collectively unhappy and, secondly, strengthen our case if it is then not actually delivered.

I think this is evidence that they are learning from their experience with the Point. I think there is roughly 5 times the number of apartments in BC than the Point so presumably they don't want 5 times the size of the headache.

The whingers won't see it this way but they never do. :)

From the Bonnington JLT thread;

Cutting from Gulf News :-
Dubai: More foreign buyers eye hotel properties in Dubai for investment as returns remain high despite the global crisis, but sellers are scarce and deals are hampered by the difficulty to get loans, industry experts said.

"If you compare five-star properties in Paris and Dubai, both well-located, your return on investment is much better in Dubai," said Amine Hamdani, manager and surveyor at global real estate service company CB Richard Ellis.

Which pub do you work in love ?

No, no, you mean "which pub do you own love?" :banana: Actually, I did a spell behind the bar when I was a kid in one of my cousins places in San Francisco. It was a lot of fun and a nice experience. Things sure have changed over the years...:cheers:

@Topic: So, what's your interest in BC? You got some investments here?

does everyone get a receipt for every payment made on both spp and lpp...?

^^ i was told repeatedly by SG when i bought my apartments in Oct 2007 that the finishing quality will better than TP due to the hotel presence!

not that i trust any of that now, but my contract says graniti tiles for the entrance & living room! could this be a hint of better finishing! just a thought!

Glover so does mine for The Point but we got ceramic. Bit of cut and paste on the contracts.

Has everybody received confirmation that their unit has been registered.. I have not received mine and paid before xmas 2008. Also it says in the Gulf news that once your unit is registered you can look into the developers escrow account via the land department.

does everyone get a receipt for every payment made on both spp and lpp...?

in the past i did, not this time, so reminded them. did get a receipt for the 1%.

Looked at the Land department and RERA site.

Our project seem only to consist only of 2 buildings as per the department. See also the RERA progress (photo's and indicator / narration of the progress)


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

clearly, our project consists only of 2 towers, not three, see also for
progress on:

http://www.rpdubai.com/rpdubai/jsp/ProjectIndicator.jsp?imageLoc=../SharedFolder/ProgressIndicator/259_187.jpg&projectName=Progress%20Indicator%20of%20Bay%20Central%20West%20%26%20Central%20Towers

for people interested in legal decrees:

http://www.rpdubai.com/rpdubai/developers/laws.do?lang=0

Has everybody received confirmation that their unit has been registered.. I have not received mine and paid before xmas 2008. Also it says in the Gulf news that once your unit is registered you can look into the developers escrow account via the land department.

same here. paid money and got the receipt for that. no need the registration proof. tried to see if this could be obtained online via land department, yet could not find an options for this.

see Point thread for up to date info on rentals

http://www.skyscrapercity.com/forumdisplay.php?f=668

rates have dropped but a good return is still to be had :)

this was a post today by Phillipa C on the property & Investment Thread

"We are currently in Brisbane (capital of sunny Queensland " Beautiful one day, perfect the next") and I'm starting to be more positive about Dubai property based on the property prices we are seeing here!

An off plan 3 bed apartment in Surfer's Paradise, on Queensland's Gold Coast will set you back AUS $1.7mil that's about 5.2millAED. (current exchange rate is approx 3 aed to the Aus $) Surfers used to be "the place" but to my eyes it's looking a bit tacky and run down so a 2.7AED 2 bed unit in Marina Residence on the palm looks like good value! There's no denying that the Palm does have that certain "cachet".

We've also looked at a 2 bed, 10 year old unit in Surfers for Aus$1.6 mil right on the water (views are fab) but it still makes property on the Palm look cheap.

So for all those who think Dubai property is way over priced, think again. By international standards it's really not that expensive.

The rental returns are good in Dubai - we are getting less than 5% on property we own in Brisbane - so if they would just fix up the visa issue for property owners, I think the down turn in Dubai could be fixed.

Just another perspective from down under. "

Dubai property is not the investment it was but far from a disaster :)

so if they would just fix up the visa issue for property owners, I think the down turn in Dubai could be fixed.



Unlikely visa issue will ever be fixed. That's the problem isn't it and exactly why Dubai property is much cheaper than Australia. In Australia you can become a resident and call the place home, in Dubai permanent residency/citizenship is impossible for ex-pats and hence why property values will always be lower. Great though it is, sadly we'll all be only ever living in Dubai on a temporary basis.

Check your emails - new update is out!

From the Bonnington JLT thread;

Cutting from Gulf News :-
Dubai: More foreign buyers eye hotel properties in Dubai for investment as returns remain high despite the global crisis, but sellers are scarce and deals are hampered by the difficulty to get loans, industry experts said.

"If you compare five-star properties in Paris and Dubai, both well-located, your return on investment is much better in Dubai," said Amine Hamdani, manager and surveyor at global real estate service company CB Richard Ellis.

this is because build cost including land is cheaper, construction is quicker and room rates and occupancy rates are higher. This combination is financially very advantageous

however, right now, finance is more difficult to arrange and demand for rooms is uncertain

you would think on balance a hotel especially in the marina is a good if not great medium term investment. That is why the hotel at BC will be built but current circumstances might explain why they are not rushing to complete

http://i25.tinypic.com/zxqn2h.jpg

http://i27.tinypic.com/350448l.jpg

^^Nice one Beppe - Picture 2 shows the view I might get from central tower apartment (eventually)!

lol

^^Nice view, will be nicer when the temp land is removed from the Quays.

Piling only 60%!

^^Nice view, will be nicer when the temp land is removed from the Quays.

Piling only 60%!

i agree view will be good...i have two on high floors with same view onto yacht club. Get you up for a beer one night Scott.

Cutting from Gulf News :-
Dubai: More foreign buyers eye hotel properties in Dubai for investment as returns remain high despite the global crisis, but sellers are scarce and deals are hampered by the difficulty to get loans, industry experts said.

"If you compare five-star properties in Paris and Dubai, both well-located, your return on investment is much better in Dubai," said Amine Hamdani, manager and surveyor at global real estate service company CB Richard Ellis.

this is because build cost including land is cheaper, construction is quicker and room rates and occupancy rates are higher. This combination is financially very advantageous

however, right now, finance is more difficult to arrange and demand for rooms is uncertain

you would think on balance a hotel especially in the marina is a good if not great medium term investment. That is why the hotel at BC will be built but current circumstances might explain why they are not rushing to complete
Slowhand...you have continually asked that i remain quiet as update will show everything is ok with finishes and hotel etc. Apparently according to you [and your source MS you tell us] we would be seeing fabulous photos of internals and confirmation of many things to negate all the negatives. What did we get? A couple of ok photos and an update confirming everything is well behing schedule with your own offering of the usaul positive stuff.
At least if they gave us what you said they would we would believe your source to be good!
My source told me exactly what to expect, didn't dress it up and was blunt and honest with me to the extent i appreciate knowing exactly where i am. Exactly...no messing. Yes the hotel is a hotel but fit out will finish 6 to 12 months after apt towers...yes there is a show apartment but they are still trying to get it right for our approval and it may be another week or so before photographs are released. He commented that so far in his opinion the standard was night and day compared to The Point...but still not right. Honesty is all we can ask for - Propoganda is what you [and your source] keep giving us! I am afraid your opinion is now worthless to me and i do rate my contacts better than yours...perhaps yours feed you what they want people to here. Regardless you must keep information honest and blunt. We all know SG will finish the project and the Hotel - it is the rest we are concerned about. Regarding the usual negative tossers who try and stir it up - ignore them and they may go away...stop answering them!
Anybody wants a blunt and genuine update from my sources PM me with an email address and i'll reply. Might not be on time but its all good!

Mark

^^ i Agree with mark above..

i agree view will be good...i have two on high floors with same view onto yacht club. Get you up for a beer one night Scott.

Have you forgotten already.................it's vintage champers I drink, you pour:laugh:

Slowhand...you have continually asked that i remain quiet as update will show everything is ok with finishes and hotel etc. Apparently according to you [and your source MS you tell us] we would be seeing fabulous photos of internals and confirmation of many things to negate all the negatives. What did we get? A couple of ok photos and an update confirming everything is well behing schedule with your own offering of the usaul positive stuff.
At least if they gave us what you said they would we would believe your source to be good!
My source told me exactly what to expect, didn't dress it up and was blunt and honest with me to the extent i appreciate knowing exactly where i am. Exactly...no messing. Yes the hotel is a hotel but fit out will finish 6 to 12 months after apt towers...yes there is a show apartment but they are still trying to get it right for our approval and it may be another week or so before photographs are released. He commented that so far in his opinion the standard was night and day compared to The Point...but still not right. Honesty is all we can ask for - Propoganda is what you [and your source] keep giving us! I am afraid your opinion is now worthless to me and i do rate my contacts better than yours...perhaps yours feed you what they want people to here. Regardless you must keep information honest and blunt. We all know SG will finish the project and the Hotel - it is the rest we are concerned about. Regarding the usual negative tossers who try and stir it up - ignore them and they may go away...stop answering them!
Anybody wants a blunt and genuine update from my sources PM me with an email address and i'll reply. Might not be on time but its all good!

Mark

Your and my opinions hardly differ except my expectations of the finishing are probably lower than yours for the reasons I have previously stated.

Calm down, dear. I have set out in many posts my views in an open way. There is no hidden agenda. I am just looking to get my BC properties as soon as possible. (I agree the views from central tower look great.)

I expect that photos will be issued in next few weeks and the reason why they haven't been so far if that physical changes are being made to the work that has been done on the showflat. I am just an investor like you and none of us has any special relationships or influence. It is really all down to what SG ie Rahail thinks and does and I don't think anyone has much influence over this. If you haven't picked up on this by now then .....

I happen to think we will get photos or a video in the next few weeks.

You obviously will form your own opinion. Time will tell.

I will make my own mind up what I post. Don't need your advice, thanks.

PS Don't PM me for info or opinion in future

PPS I do prefer reading strong opinions as out of heat come light usually. TB, your mate, has made the odd good point (but not many)

PPPS In a good mood this morning as Man U lost last night to my team Burnley! Fantastic!

Sorry it worked out this way...it all started so rosy!

Sorry it worked out this way...it all started so rosy!

I don't have any issues with you. It is a matter of emphasis that's all.

Once I've see the hotel actually start to rise and we've seen the pictures on finishing which I'm happy with and if progress on the residential towers is carrying on at current rate then I'll have no reason to post ever again. :cheers:

Matthew I dont always agree with you but good to see Manutd have a bit of a bad night.

I read one of the posts that the show flat was delayed as they wanted to get it ready for Investors approval. Is this a wind up?

Matthew I dont always agree with you but good to see Manutd have a bit of a bad night.

I read one of the posts that the show flat was delayed as they wanted to get it ready for Investors approval. Is this a wind up?

And I Thought you were my friend CBG :lol:

My grandad used to support Burnley
(looking for positives today m8:lol:)

They're waiting for me and you to sign off BC next week :lol::lol:

I am ya mate but hate your team. Whats with the CBG bit? Hope you are not signing off BC next week rari boy!

I don't have any issues with you. It is a matter of emphasis that's all.

Once I've see the hotel actually start to rise and we've seen the pictures on finishing which I'm happy with and if progress on the residential towers is carrying on at current rate then I'll have no reason to post ever again. :cheers:

I think you're clutching at straws on the finishing issue - although I agree that SG as newish players ought to be able to extract a bit more from their subcontractors to improve with each successive delivery. The subcontractor has no history of delivering the standard you're looking for; - sad but I've come to that realisation. Not sure if you've lived or worked in the Middle East; - I have, and I know what's likely to be feasible with this subcontractor. It's my opinion that it isn't what you're looking/hoping for. It will be OK - acceptable - but it wont be better, - well not unless the subcontractor makes some big changes before they deliver BC anyway.

I'm sorry but I'm sure I wont be alone in suggesting very politely that you wake up and smell the coffee.

I think you're clutching at straws on the finishing issue - although I agree that SG as newish players ought to be able to extract a bit more from their subcontractors to improve with each successive delivery. The subcontractor has no history of delivering the standard you're looking for; - sad but I've come to that realisation. Not sure if you've lived or worked in the Middle East; - I have, and I know what's likely to be feasible with this subcontractor. It's my opinion that it isn't what you're looking/hoping for. It will be OK - acceptable - but it wont be better, - well not unless the subcontractor makes some big changes before they deliver BC anyway.

I'm sorry but I'm sure I wont be alone in suggesting very politely that you wake up and smell the coffee.

my expections re finishings are not as high as most investors in BC as previously stated. Your clutching at straws analogy is inappropriate in my case because I expect to be happy but some others not to be. Please read the posts more carefully

be wary of those who consistently post negative comments and who are investors. Many of them are trying to negotiate private deals with SG so they'll go away. At least two have been successful with this strategy (Mackie and Mistermark). Others will try. Just look at the about turn done by Mistermark on the Torch thread if you want evidence of this

your smelling the coffee comment should be aimed at others and, with respect, maybe yourself if you hadn't realised the games people are playing with fellow investors. As you would expect my posts are not always welcome by those who seek to use this forum for their own selfish ends rather than for the good of every investor

yatch club view, dont know what height this photo was taken from maybe around floor 5?

http://i32.tinypic.com/oojs3.jpg

my expections re finishings are not as high as most investors in BC as previously stated. Your clutching at straws analogy is inappropriate in my case because I expect to be happy but some others not to be. Please read the posts more carefully

be wary of those who consistently post negative comments and who are investors. Many of them are trying to negotiate private deals with SG so they'll go away. At least two have been successful with this strategy (Mackie and Mistermark). Others will try. Just look at the about turn done by Mistermark on the Torch thread if you want evidence of this

your smelling the coffee comment should be aimed at others and, with respect, maybe yourself if you hadn't realised the games people are playing with fellow investors. As you would expect my posts are not always welcome by those who seek to use this forum for their own selfish ends rather than for the good of every investor

Fair comment for the most part; - but I think some of the judgement placed upon other investors is a bit unfair. If anyone has been able to negotiate thier own deal with the developer then good luck to them. I doubt though that this developer will have cut a deal with them to make them "go away" or to stop them posting negative comments here! That would be fanciful.

I am ya mate but hate your team. Whats with the CBG bit? Hope you are not signing off BC next week rari boy!

CBP to be correct sorry !
- Rari's gone now to pay off some TP and BC - only Rnge Rover Sport now
- remeber to bring your cam for trip up TT

Picture courtesy of DxbGo and Apple iPhone!

http://i31.tinypic.com/2ps4lfq.jpg

22/August/2009

Bay Central

http://i25.tinypic.com/300se4i.jpg

http://i25.tinypic.com/2sbvr87.jpg

http://i29.tinypic.com/6zo302.jpg

http://i31.tinypic.com/vdpi5x.jpg

http://i26.tinypic.com/243iveo.jpg

http://i29.tinypic.com/16bat5u.jpg

^^Thanks Imre :applause:

Great shots Imre as usual - keep them coming

hi all its gone awfully quiet on here, is every one happy with progress? looks like were building and well!!!!!:cheers:

A hole in the ground till early 2010 .. I wont be surprised.
The construction progress would be what we regard as "acceptable" when all investors have paid around 90% of the purchase price for their units.

For a three tower development, we have only 1 crane and a dozen or so workers on site. 2013 is an optimistic estimate for completion.
BTW, i'm no construction expert.

Look at how long it takes to get from where they are now to breaking ground on the Torch (same developer, same construction company, smaller plot). I reckon at it will take least 2008 (4 months left) and 2009 to break ground/do the podium.

It will take them at least 18 months to build the towers which takes you to mid 2011.

Optomisticaly 6-9 months to fit out takes you to 2012.

All the pretty charts in the world doesnt speed construction up i'm afraid.

Some better construction experts than me are still saying the Torch handover will be late 2011 and its nearly half built.

So BC may be even 2013, but i was being optomistic.

This is only my opinion, i am not a construction expert.

(that was what was being posted around a year ago)

What is happenning is that some of the most pessimistic people appear to have been proven wrong.

Some of the very optimistic ones have also been proven wrong.

I guess as the projest progresses it is proven that nothing is as bad or as good as some thought. But I still think this is much better than most developments in the marina I could have bought at the time!

I waiting to see the fit out of the sample apartment and some faster progress on the third tower. After some panic, things are looking encouraging though and I am confident I've made a great investment here!

Look at how long it takes to get from where they are now to breaking ground on the Torch (same developer, same construction company, smaller plot). I reckon at it will take least 2008 (4 months left) and 2009 to break ground/do the podium.

It will take them at least 18 months to build the towers which takes you to mid 2011.

Optomisticaly 6-9 months to fit out takes you to 2012.

All the pretty charts in the world doesnt speed construction up i'm afraid.

Some better construction experts than me are still saying the Torch handover will be late 2011 and its nearly half built.

So BC may be even 2013, but i was being optomistic.

This is only my opinion, i am not a construction expert.

(that was what was being posted around a year ago)

What is happenning is that some of the most pessimistic people appear to have been proven wrong.

Not sure if you thought i was pessemistic or optomistic ?

Anyway I said 2009 to finish the podium they are nowhere near this. The timetable i gave was for a 3 tower project and i estimated a completion of 2012.

I would say that the full podium for 3 towers wont be finished until mid 2010 (earliest), at this pioint the 2 main towers may be nearing topped out. The third tower (timeshare tower) may topp out early - mid 2011 with a year to complete so i would say that 2012 is still on the cards.

As already stated i am not a construction expert.

Not sure if you thought i was pessemistic or optomistic ?

Anyway I said 2009 to finish the podium they are nowhere near this. The timetable i gave was for a 3 tower project and i estimated a completion of 2012.

I would say that the full podium for 3 towers wont be finished until mid 2010 (earliest), at this pioint the 2 main towers may be nearing topped out. The third tower (timeshare tower) may topp out early - mid 2011 with a year to complete so i would say that 2012 is still on the cards.

As already stated i am not a construction expert.

HT, when reading posts around a year ago, some people were expecting this to not even rise until 2010. I think this was pessimistic. Others (me included) expected completion in or shortly after 2009, clearly this was too optimistic.

Controversially they have progressed with the core and not the podium of the two towers, so it's impossible to argue actually how much this project has progressed. The point I was trying to make is that this building has started progressing in a steady pace now, with some uncertainties remaining (about the finishes and hotel) which I believe will end up somewhere half way between the utopias or nightmares people imagine.

Reading my post above, it might read like I was suggesting you were too optimistic or pessimistic or something. I was just trying to highlight how varied all our estimates were at the time and to say that at least now many of the uncertainties are slowly going away, with neither the worst case nightmares or best case dreams materialising.

Red is route and stops for feeder bus
Blue is stations in Marina
Green is metro stations

http://i26.tinypic.com/2wn63xe.jpg

They have erected bus stands at the JBR Walk. Are these redundant in favour of stops at areas where there are unfinished towers:dunno:

No provision for a service for KG tower or Panoramic, DEC etc. RTA are a bunch of dummies by the looks of it.

They have erected bus stands at the JBR Walk. Are these redundant in favour of stops at areas where there are unfinished towers:dunno:

No provision for a service for KG tower or Panoramic, DEC etc. RTA are a bunch of dummies by the looks of it.

For the slightly half intelligent of these forums this route is clearly the main one. You seem to have forgotten the many many jbr towers and also the fact that finished or not it is prime in marina.

:cheers:anyone in the BC forum living around London would like 3 Tickets for Wicked showing in Apollo Victoria Theatre for saturday 29th Aug. PM me will fax the tickets. NO charge

Hi, can you please let me know how to have a look at the escrow account. I too have just received my registration certificate, but only after months of chasing Select.

Can anyone also please let me know what the implications are for failing to make an instalment? This is exactly what I am planning to do, but only after notifying Select beforehand. Needless to say they have not responded (yet!). I would like to know what action they could take against me. The truth is I am currently facing cash flow issues with my business and I am finding it hard to justify making a full payment every 6 months when the developer will delay delivery of my apartment for at least a year. Thanks

Hi, can you please let me know how to have a look at the escrow account. I too have just received my registration certificate, but only after months of chasing Select.

Can anyone also please let me know what the implications are for failing to make an instalment? This is exactly what I am planning to do, but only after notifying Select beforehand. Needless to say they have not responded (yet!). I would like to know what action they could take against me. The truth is I am currently facing cash flow issues with my business and I am finding it hard to justify making a full payment every 6 months when the developer will delay delivery of my apartment for at least a year. Thanks

Payments are now linked to construction, RERA have enforced this and every developer in the marina are aware of this.

Bay central/select property/dubai select are in the process of revising their payment structure for all those that have paid over 50%. Lets see what they come up with...

Progress recently I think most will agree has been positive and its becoming more apparent to those that find it hard to visualize an incomplete project in Dubai as being a great location within the marina, For all those haters regarding the legitimacy of the developer.....its Dubai..They are all 'bending' the rules because Dubai previously allowed this,times are changing.....

Bay central and Silverine are probably the two most active construction sites in the area......

And to be honest most of the people who disregard this development aren't even owners, surely there is more to life than spending time blasting a development that they dont have a financial interest in....dreamers.

Its being built.....

Hi, can you please let me know how to have a look at the escrow account. I too have just received my registration certificate, but only after months of chasing Select.

Can anyone also please let me know what the implications are for failing to make an instalment? This is exactly what I am planning to do, but only after notifying Select beforehand. Needless to say they have not responded (yet!). I would like to know what action they could take against me. The truth is I am currently facing cash flow issues with my business and I am finding it hard to justify making a full payment every 6 months when the developer will delay delivery of my apartment for at least a year. Thanks
I think you should keep trying to contact them and you will be pleasantly surprised if you get someone. They WILL help you I think.

if Select chooses to ignore the laws of Dubai in terms of linking payments to construction and thus violate the contract (the contract is governed by the laws and regulations of the UAE/Dubai), you should do the same to them as an investor and, first, ignore their request for payments if you are on the SPP. And second, demand from them a RERA approved rescheduled payment plan linked to construction, as the laws and regulations of Dubai mandate.

Hi, can you please let me know how to have a look at the escrow account. I too have just received my registration certificate, but only after months of chasing Select.

Can anyone also please let me know what the implications are for failing to make an instalment? This is exactly what I am planning to do, but only after notifying Select beforehand. Needless to say they have not responded (yet!). I would like to know what action they could take against me. The truth is I am currently facing cash flow issues with my business and I am finding it hard to justify making a full payment every 6 months when the developer will delay delivery of my apartment for at least a year. Thanks

^^ thats the route im going down and im on the SSP.. everyone has there own idea's what to do or dont

Guys, thanks for the replies. I have written to Select to let them know that I will not be making the next instalment. I have cited financial difficulties and pointed to the fact that I have already paid 50% and construction progress is nowhere near that. I have also written to RERA to ask for a copy of the escrow account. Lets see what happens.

Guys, thanks for the replies. I have written to Select to let them know that I will not be making the next instalment. I have cited financial difficulties and pointed to the fact that I have already paid 50% and construction progress is nowhere near that. I have also written to RERA to ask for a copy of the escrow account. Lets see what happens.

I have just paid my final payment well penultimate one if you count fx fix deposit....the bigges tdanger to this project is the defaulters pay up and am sure all will be well if not or you cant come up and thats when problems start this project will be a winner....

I have just paid my final payment well penultimate one if you count fx fix deposit....the bigges tdanger to this project is the defaulters pay up and am sure all will be well if not or you cant come up and thats when problems start this project will be a winner....

I agree with you on defaulters and would urge everyone to pay unless otherwise agreed with SG/SP. Keep yourself right and also don't endanger project. That said i have heard whispers of further payment break for those on SPP that have paid 50% or more.

how could not paying endanger the project when the funds are (so we are told) held in an escrow account linked to the build? Any new pics would be awesome...

The project should have been completed in Dec this year so there cannot be any need for further payments to be collected after this date. If SG argue they need more funds then the completion date in the contract is nothing but a scam and completion could not have happened in Dec'09 in any event due to a lack if funding.

how could not paying endanger the project when the funds are (so we are told) held in an escrow account linked to the build? Any new pics would be awesome...

Not paying could endanger the project because people need to put money into the escrow to allow build to continue. I have heard all the stuff about payments linked to build and i hope SG get it sorted. All i am saying is until it is sorted officially keep yourself right and the project too. Who knows...maybe one day soon we will hear from SG on payments linked to construction progress and we can then relax a bit.

The project should have been completed in Dec this year so there cannot be any need for further payments to be collected after this date. If SG argue they need more funds then the completion date in the contract is nothing but a scam and completion could not have happened in Dec'09 in any event due to a lack if funding.

I agree but if there are many people defaulting then the funds will not be there. You are assuming everyone all through the build has been paying on time. Have they?
Can anyone post a link for me to read through the official line from rera [or whoever] on payments linked to build as i cannot find anything anywhere.

Anybody any photos particularly from above so we can see podium etc?

Cheers...

^^ yeah SP will release payments links to constuction once its too late and everyone on SSP have paid 90%, no good then

The way I see it, I have paid 70% so far and construction progress is nowhere near that. Therefore there should be enough money in the escrow account (at least as far as my contribution is concerned) to last for a few months before another payment is required from me. My next instalment would have taken me to 90%. I just cannot commercially justify pouring money into something where I won't be seeing a return for another year. That cash is much needed somewhere else in my business. Anyway I have informed both SG/SP and RERA, lets see what happens.

The way I see it, I have paid 70% so far and construction progress is nowhere near that. Therefore there should be enough money in the escrow account (at least as far as my contribution is concerned) to last for a few months before another payment is required from me. My next instalment would have taken me to 90%. I just cannot commercially justify pouring money into something where I won't be seeing a return for another year. That cash is much needed somewhere else in my business. Anyway I have informed both SG/SP and RERA, lets see what happens.

Correction make that two years - with better finishes it will be worth waiting though

I am here at the moment getting my Point flats refurbished so will get some pictures soon. The mock unit at BC will be worth the wait and the equipment and spec will be higher than The Point cannot comment on The Torch. BC will get cornicing, marble floors with inlay borders, wall hung wcs and bidets and poss chrome switchgear all an improvment from their first attempt.

I am here at the moment getting my Point flats refurbished so will get some pictures soon. The mock unit at BC will be worth the wait and the equipment and spec will be higher than The Point cannot comment on The Torch. BC will get cornicing, marble floors with inlay borders, wall hung wcs and bidets and poss chrome switchgear all an improvment from their first attempt.

Told you so CBP -- See you Friday -- hope the refurbs are going OK

I am here at the moment getting my Point flats refurbished so will get some pictures soon. The mock unit at BC will be worth the wait and the equipment and spec will be higher than The Point cannot comment on The Torch. BC will get cornicing, marble floors with inlay borders, wall hung wcs and bidets and poss chrome switchgear all an improvment from their first attempt.
Sounds like good news. Well done.
Can you point your camera from above and get some photos please. And if you happen to be at the yacht club get one from there. FinAlly if your out on the boat get one from offshore between al fattan and jbr.
I don't ask for much do I?

I am here at the moment getting my Point flats refurbished so will get some pictures soon. The mock unit at BC will be worth the wait and the equipment and spec will be higher than The Point cannot comment on The Torch. BC will get cornicing, marble floors with inlay borders, wall hung wcs and bidets and poss chrome switchgear all an improvment from their first attempt.

CBP - I hope you're right...otherwise your 'point guys' will be needed in my apartment!:lol:

Told you so CBP -- See you Friday -- hope the refurbs are going OK

Any news on the interior pictures?

Sure he isnt taking the piss like normal?

.... The mock unit at BC will be worth the wait and the equipment and spec will be higher than The Point cannot comment on The Torch. BC will get cornicing, marble floors with inlay borders, wall hung wcs and bidets and poss chrome switchgear all an improvment from their first attempt.

Sounds good! This is a Cayan spec:) All you need now is Bosch Siemens appliances and it's a wrap.:okay:

Not paying could endanger the project because people need to put money into the escrow to allow build to continue. I have heard all the stuff about payments linked to build and i hope SG get it sorted. All i am saying is until it is sorted officially keep yourself right and the project too. Who knows...maybe one day soon we will hear from SG on payments linked to construction progress and we can then relax a bit.

I don't agree with your sentiments here. Payments should be linked to progress, that is common sense and is now becoming law. SP are trying to force money out of everyone dissproportionate to the pregress before they are brought to bear by Rera. Everyone knows Rera don't order refunds they order payment freezes. After you have paid 90% little point in a freeze.

First advice anyone receives when engaging a builder or contractor is the golden rule ,"don't pay too much up front." There is no incentive to finish on time or to produce a quality finish when they already have the money in their bank.

If the build could be endangered by you not paying 90% at this stage then there is something fundamentaly wrong with the developer's set up. Why should anyone risk anymore money to bail out the developer with his problems that he may have missmanaged himself. Are they that caring about your problems while they drive around town in their Italian sports cars?

Don't forget the golden rule!

Any news on the interior pictures?
I heard they have put it back a few weeks so they get it right.

I don't agree with your sentiments here. Payments should be linked to progress, that is common sense and is now becoming law. SP are trying to force money out of everyone dissproportionate to the pregress before they are brought to bear by Rera. Everyone knows Rera don't order refunds they order payment freezes. After you have paid 90% little point in a freeze.

First advice anyone receives when engaging a builder or contractor is the golden rule ,"don't pay too much up front." There is no incentive to finish on time or to produce a quality finish when they already have the money in their bank.

If the build could be endangered by you not paying 90% at this stage then there is something fundamentaly wrong with the developer's set up. Why should anyone risk anymore money to bail out the developer with his problems that he may have missmanaged himself. Are they that caring about your problems while they drive around town in their Italian sports cars?

Don't forget the golden rule!

Fair point in the normal world but Dubai - as you are aware - has its own rules. But i agree with you. Surely then every single owner that reads this forum should agree that the final payment shouldn't be paid until luxury standard sold is delivered and hotel is complete as it is a three tower developement. Lets start an owners group to negotiate these points!

i read somewhere that in california, this practice is illegal, when contractors take excessive down payments or take payments for work not completed! they call it there "frontloading".

Any news on the interior pictures?

has anyone managed to visit the show apartment?

http://farm3.static.flickr.com/2426/3876432509_e3a3992367_o.jpg

:bash: how does one add pictures here#??

use www.tinypic.com

Sure he isnt taking the piss like normal?

I never take the piss just tell it how it is Beppe. You read it wrong.

central tower back apartments should get a sea view

http://farm3.static.flickr.com/2667/3878865120_2e391268f0_b.jpg

http://farm3.static.flickr.com/2621/3878846450_92f53deff0_b.jpg

http://farm4.static.flickr.com/3475/3878839772_6577b7468f_b.jpg

http://farm3.static.flickr.com/2621/3878846450_92f53deff0_b.jpg

Beppe, good shot, from what floor was this taken ?

central tower back apartments should get a sea view

http://farm3.static.flickr.com/2667/3878865120_2e391268f0_b.jpg

Thats the west tower. Central tower will get sea view from other side toward palm

Will central tower sea view be blocked by the new super tall tower (Burj Al Fattan) going up?

Will central tower sea view be blocked by the new super tall tower (Burj Al Fattan) going up?

No sea view is between oasis tower and jbr above 18 with excellent views towards palm. Lower floors will see very little.

Beppe - Thanks for those pictures! You have taken some absolute beauties there!

:lol:

No sea view is between oasis tower and jbr above 18 with excellent views towards palm. Lower floors will see very little.

Mark's right - here's a picture for you:

http://i28.tinypic.com/20apj78.jpg

No sea view is between oasis tower and jbr above 18 with excellent views towards palm. Lower floors will see very little.


Correct , that's why I got floor 31 - SHOULD SEE OVER JBR
-- Burj al Fattan wont affect that view at all

Hi, First time on here so go gentle with me :). Like stressedout, I have emailed SG 3 times and also faxed with no reply. Ive also paid 70% to date, with a further payment of 20% due a few days ago. Ive asked for a payment holiday for the same reasons as others, but as yet have not contacted Rera. Can someone please let me know how I contact them.? Best Wishes to you all, I look forward to sharing a JD with you on completion, hopefully at the end of 2010. !

Hi, First time on here so go gentle with me :). Like stressedout, I have emailed SG 3 times and also faxed with no reply. Ive also paid 70% to date, with a further payment of 20% due a few days ago. Ive asked for a payment holiday for the same reasons as others, but as yet have not contacted Rera. Can someone please let me know how I contact them.? Best Wishes to you all, I look forward to sharing a JD with you on completion, hopefully at the end of 2010. !

dont worry most of us are in the same boat.. mostly people on the Standard payment plan are not happy and havent paid there sept payment... makes no sence paying 90% upfront, it wont speed up anything and completion is near 2011 end

so just relax select cannot cancel your contract only RERA can.

04/September/2009

Bay Central

http://i28.tinypic.com/2dba439.jpg

http://i26.tinypic.com/9zrb5y.jpg

http://i32.tinypic.com/2h58ep1.jpg

monthly progress report. Both towers are only 2 floors up in 28 days. Can't tell if more work was done the basement level. Let's see if pace picks up in Sept.

Thanks Imre.

Aug. 7

http://img3.imageshack.us/img3/853/amv4gg.jpg (http://img3.imageshack.us/i/amv4gg.jpg/)

Sept. 4

http://img510.imageshack.us/img510/143/2dba439.jpg (http://img510.imageshack.us/i/2dba439.jpg/)

Average is 1 floor every 13 days since raft cast.

Can't see Rera approving 90% payment. Construction progress only about 25-30%. Taking account of the land cost and design fees todate, can't see spend profile being more than 40% (ignoring the East tower).

http://i27.tinypic.com/242udmf.jpg Sorry about the quality but lens continually steamed up and they need the windows cleaning at al fattan.

From the west tower you will need to be above 20 to have a decent yatch club view.

http://i30.tinypic.com/2ldu738.jpg

http://i32.tinypic.com/2952rub.jpg

http://i27.tinypic.com/2h7ewko.jpg

http://i29.tinypic.com/2i6ngj9.jpg

http://i28.tinypic.com/2wrf4vt.jpg

This was taken from the 24th floor al fattan

http://i30.tinypic.com/2nvdr84.jpg

Taken from 16th floor al fattan

http://i27.tinypic.com/29xugow.jpg

http://i26.tinypic.com/13zy79u.jpg

http://i26.tinypic.com/2n8q054.jpg

Serious road works outside BC

http://i29.tinypic.com/9vd3pd.jpg

http://i31.tinypic.com/nch9hi.jpg

http://i25.tinypic.com/2cn77nt.jpg

http://i27.tinypic.com/2r56sxw.jpg

Average is 1 floor every 13 days since raft cast.

Can't see Rera approving 90% payment. Construction progress only about 25-30%. Taking account of the land cost and design fees todate, can't see spend profile being more than 40% (ignoring the East tower).

40% Spend profile as much as that - just for interest TB how would estimate main stages of spend profile (adding in or out in the east tower also ? )

I,m no construction expert but it seems to me with the two towers at 11 to 12 floors high I think 30% spend would be more like it (if you ignore east tower) I would consider 50% spend profile would only come at top out is that accurate (trying to estimate what %tage we should pay at top out ?)

http://i27.tinypic.com/6i8o7t.jpg

http://i29.tinypic.com/2ufsmsz.jpg

http://i28.tinypic.com/14cvady.jpg

http://i32.tinypic.com/2vadou9.jpg

http://i32.tinypic.com/2d134uv.jpg

Thankyou Pete! :applause:

I hope you had someone holding onto you as you strectched out to take the shot in this pic:
http://www.skyscrapercity.com/showpost.php?p=42691362&postcount=4643

Appreciate your efforts!

Correct , that's why I got floor 31 - SHOULD SEE OVER JBR
-- Burj al Fattan wont affect that view at all

What Tower are you? Im also on 31 but the West Tower .. possibly neighbours if same Tower.

Thankyou for the photos Charlie Big Potatoes

great pictures!

get inside if you can photos there would be great..

Great coverage.

Thanks

40% Spend profile as much as that - just for interest TB how would estimate main stages of spend profile (adding in or out in the east tower also ? )

I,m no construction expert but it seems to me with the two towers at 11 to 12 floors high I think 30% spend would be more like it (if you ignore east tower) I would consider 50% spend profile would only come at top out is that accurate (trying to estimate what %tage we should pay at top out ?)

I am allowing for cost of land and design fees, the foundation costs and raft(concrete in raft could be eqivalent to 10 floors) and the cost of excavating and carting away. There is the site offices and hutting $100:lol:.

You could also argue commission for the selling agent. Your deposit could be commission:dunno: Project cost profiles are the job of the quantity surveyors so I can only make a judgement. The cost of the fittout is unknown as we don't know to what level they are going for.

http://i32.tinypic.com/2d134uv.jpg


Thks - great photos - especially the shots from Al fattam towers.


ianthy

If you haven't see the post yet look at CBP's photos on the Point thread starting at

http://www.skyscrapercity.com/showthread.php?t=335563&page=118

to see how the finished product is shaping up. It looks very impressive to me. CBP has done well.

It has took too long and there has been some hassle but, hey, the finished product! The views are great. We'll have a similar experience at BC but most investors will be pleased in the end.

Beats the view of a bridge and smell of the sewage farm that some have. :lol:

What Tower are you? Im also on 31 but the West Tower .. possibly neighbours if same Tower.


central

Slowhand - CBP has done a refit and his apartment is not SG standard spec.

If you haven't see the post yet look at CBP's photos on the Point thread starting at

http://www.skyscrapercity.com/showthread.php?t=335563&page=118

to see how the finished product is shaping up. It looks very impressive to me. CBP has done well.

It has took too long and there has been some hassle but, hey, the finished product! The views are great. We'll have a similar experience at BC but most investors will be pleased in the end.

Beats the view of a bridge and smell of the sewage farm that some have. :lol:

The apt looks great - plus those fab views!

Ianthy

If you haven't see the post yet look at CBP's photos on the Point thread starting at

http://www.skyscrapercity.com/showthread.php?t=335563&page=118

to see how the finished product is shaping up. It looks very impressive to me. CBP has done well.

It has took too long and there has been some hassle but, hey, the finished product! The views are great. We'll have a similar experience at BC but most investors will be pleased in the end.

Beats the view of a bridge and smell of the sewage farm that some have. :lol:
it is easy to refit an apartment and spend more of our hard earned cash. You CANT refit communal areas and pool decks and this is exactly where the problem is. These areas are shocking. This is what we have to make sure is right. After it's done it's too late.

Slowhand - CBP has done a refit and his apartment is not SG standard spec.

Thanks for your post.

CBP said in his post "We used locals in the end to carry out the works and it only come to a rub of soap so if you aint that pleased with yours upon handover it isnt the end of the world. "

Not sure how much refitting he did?

We should get a better finishing job than the Point. Many who are posting on here are now saying this. We'll see what lessons have been learned when the Torch is handed over.

No doubting though the end result will be fabulous that is the point I wanted to emphasize to anyone who hasn't bought in the marina before.

Thanks for your post.

CBP said in his post "We used locals in the end to carry out the works and it only come to a rub of soap so if you aint that pleased with yours upon handover it isnt the end of the world. "

Not sure how much refitting he did?

We should get a better finishing job than the Point. Many who are posting on here are now saying this. We'll see what lessons have been learned when the Torch is handed over.

No doubting though the end result will be fabulous that is the point I wanted to emphasize to anyone who hasn't bought in the marina before.


He did a LOT of refitting and the guy is a prefectionist (but cant drink LOL )
Seriously if SG just spent 10% more on the apartments they would be fantastic --it is so f##king annoying !! -- position of TP and BC is fantastic but SG have spoilt TP - a BLOODY good clean wouldn't hurt now either !!

BC is moving but not that fast A LOT of work to do on Podium -- Top out wont be till APRIL at least on Central Tower IMHO

If only my apartment was the show apartment!! is anybody claiming this?
Is the show apartment in the west tower and what view has it got?

If the show appt is the glazed one in my picture above its on about the 5th floor of the west tower with a poor view. It will look up the road towards the Jewels and MP.

CBP - thanks for pointing that out. somebody must have wangled a deal. I cant believe they didnt pick out a marina view appt. nice apartment in the point also. you did a great job.

http://i27.tinypic.com/311paoo.jpg

08/September/2009

Bay Central

http://i31.tinypic.com/2rmuzcz.jpg

Is this an addition or a replacement?


http://www.marriott.co.uk/hotels/travel/dxbhr-dubai-marriott-harbour-hotel-and-suites/

After several emails over the last couple of months, they finally replied to my query regarding payments.

They sent this on August 30 (no more information after that even if they said they would confirm in a couple of days...)

"Apologies for the delay in our response, however the reason is we are working on further payment holiday to all purchasers that paid 70% by now,

The communication will be out next couple of days with all the details, however to confirm yes, there will be a payment holiday.

Please let us know if we can help any further,

Thank you and Regards,

Zulfia Fakhretdine"

Is this an addition or a replacement?


http://www.marriott.co.uk/hotels/travel/dxbhr-dubai-marriott-harbour-hotel-and-suites/

It's the former Emirates Harbour Hotel (Al Marsa Tower)

^^^^^ mackie meant to say an addition to BC's marriott or replacing BC's hotel!

i hope i am wrong here, but i thought hotels in general don't operate the same brand within a certain radius, say 2-3 kilometers apart!

^^ Reinassance is not the same brand as Marriot. Plus why would you worried about Marriot being more then a km away when Ritz Carlton (another Marriot brand) has been just a few hundreds meters distant for more then a decade?

In a similar note: Can you name how many Le Meridiens are in Marina area? Add to that Westin and Sheraton as well and you'll have 6, yes SIX properties managed by Starwood Hotels & Resorts group.

although owned by the same company (the marriott), Renaissance is a different brand. the same applies to the Ritz, owned by the same company, but a different brand.

i guess that settles it!

So the next logicl question is;

Just how many hotels can the Marina absorb in terms of available hotel rooms v required demand?

I find it astounding that hotels struggle to reach 50% occupancy levels and yet more players enter the market.

Before anyone shouts that some hotels are running at 80% - 90% occupancy. The answer is bullshit, Those numbers are as valid as the numbers being quoted by the Government regarding how many people are leaving Dubai dumping cars and unpaid bills.

The only hotel that is achieving high occupancy levels in (New Dubai) is Atlantis.

Like all business´s i guess the hotel chains are looking more than 6 months down the road and see the true potential in the Dubai marina area. When its done it will be IMO without doubt one of the funkiest coolest areas to holiday. Beach, Marina more hotels= more bars and restaurants with possibly walking distances of each other. People will prefer this to possibly downtown or Deira. I know I would.

^^

I agree in the medium term 5-10 years.

I'm just not sure how liquid the tourism/hotel industry is in terms of cash flow and borrowing capicity based on greatly reduced revenue streams.

Your bang on the money when it comes to the Marina being THE place to be in Dubai for many reasons.

It's the former Emirates Harbour Hotel (Al Marsa Tower)

I wonder what Marriott have done in terms of due diligence with regard to the vacant plot adjacent to the Emirates harbour hotel ?

I mean if you were investing in your brand in this location surely you would want some guarantees as to what your going to be next door to

^^ Reinassance is not the same brand as Marriot. Plus why would you worried about Marriot being more then a km away when Ritz Carlton (another Marriot brand) has been just a few hundreds meters distant for more then a decade?

In a similar note: Can you name how many Le Meridiens are in Marina area? Add to that Westin and Sheraton as well and you'll have 6, yes SIX properties managed by Starwood Hotels & Resorts group.

The "Dubai Marriott Harbour Hotel & Suites" tower is closer to The Torch than to Bay Central...

http://www.marriott.co.uk/hotelwebsites/us/d/dxbhr/dxbhr_pdf/Marriott%20Harbour%20Hotel%20and%20Suites%20Location%20Map%20Dubai.pdf

A new hotel launch, and instead of being happy that you've invested in one of the most popular locations in the world, the negative people are again at work to seed worries in the minds of other investors.

"What if this replaces the Marriott Bay Central investment?"
"What if this means there are too many hotels and they are unoccupied?"

The announcement of Marriott Harbour, seems to be that they are taking over the Emirates Harbour hotel, rather than building a new one.

In any case, the launch of many hotels and in particular the investment by the Marriott group in multiple sites around the Marina through many of their brands can only show their continued commitment to the area and be good news for investors in Bay Central as well as other projects in the Marina.

We have invested in one of the best locations in the world. In years to come this could be like Manhattan (which by the way is a good market for hundreds of hotels). When you see pictures of this area in 2004 you will realise how far this place has come along and how exciting its future is.

A new hotel launch, and instead of being happy that you've invested in one of the most popular locations in the world, the negative people are again at work to seed worries in the minds of other investors.

"What if this replaces the Marriott Bay Central investment?"
"What if this means there are too many hotels and they are unoccupied?"

The announcement of Marriott Harbour, seems to be that they are taking over the Emirates Harbour hotel, rather than building a new one.

In any case, the launch of many hotels and in particular the investment by the Marriott group in multiple sites around the Marina through many of their brands can only show their continued commitment to the area and be good news for investors in Bay Central as well as other projects in the Marina.

We have invested in one of the best locations in the world. In years to come this could be like Manhattan (which by the way is a good market for hundreds of hotels). When you see pictures of this area in 2004 you will realise how far this place has come along and how exciting its future is.

Show us a picture then please.

Show us a picture then please.

Because you asked nicely, here is one from 2006:

http://i28.tinypic.com/24e98g3.jpg

High Times had a nice one from 2004 posted in DM thread (i think).

Show us a picture then please.

2004

http://i26.tinypic.com/15heauf.jpg

Today

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

(NB: these were originally posted by High Times and Imre - I hope you don't mind I post them here).

^^

(NB: these were originally posted by High Times and Imre - I hope you don't mind I post them here).

No not at all,

Kind of ironic really as i took the first pic back in 2004 and Imre took the second pic from my appartment in the Torch. :lol:

FWIW as you say your pic must be 2006 due to JBR and Al Fattan progress

^^



No not at all,

Kind of ironic really as i took the first pic back in 2004 and Imre took the second pic from my appartment in the Torch. :lol:

FWIW as you say your pic must be 2006 due to JBR and Al Fattan progress

Yep, thanks for confirming!

You will have stunning views from TT! You might one day see me waving to you from Bay Central!

Sale just posted these in DM thread:

Go to 1m50s for a close up of BC.

DJPY4g8KqSY

^^^^ Kind of feels like you are up in a helicopter from that film, So HT you feeling up for that ?? LOL

So HT you feeling up for that ?? LOL

Damn right,

I think we are on the home straight now mate, still think 2011 for us up high. :)

So the next logicl question is;

Just how many hotels can the Marina absorb in terms of available hotel rooms v required demand?

I find it astounding that hotels struggle to reach 50% occupancy levels and yet more players enter the market.

Before anyone shouts that some hotels are running at 80% - 90% occupancy. The answer is bullshit, Those numbers are as valid as the numbers being quoted by the Government regarding how many people are leaving Dubai dumping cars and unpaid bills.

The only hotel that is achieving high occupancy levels in (New Dubai) is Atlantis.


HT I can give you some fact if it helps. I booked 3 months ago 3 nights in a good room at Atlantis for 2 adults and a child for £550 whilst our appt was worked on with the view to moving into it after 3 nights, that never happened so I walked up to reception and extended another3 nights, same room no problem and got the cc bill today £417 . They were glad for the biz and this was still in school holidays. More than enough hotel rooms in the marina area.

Thank you, I agree.

I was at Atlantis in June and it was the busiest i have ever seen a hotel in Dubai which is why I say it is a success.

I also stayed in the Westin Mina Seyahi and it was no more than 20% occupied. They upgraded me and my family to full board from B&B just to get us to stay in the hotel and not waste the buffet i think.

I sat in the lobby with Imre and we both discussed how quiet it was.

Funny thing is whenever you talk to a hotel manager in Dubai about occupancy levels they all say exactly the same "80% sir". It's the Dubai rhetoric.

That's why it's always best to do your own research and dont rely on info from anyone else.

Thank you, I agree.

I was at Atlantis in June and it was the busiest i have ever seen a hotel in Dubai which is why I say it is a success.

I also stayed in the Westin Mina Seyahi and it was no more than 20% occupied. They upgraded me and my family to full board from B&B just to get us to stay in the hotel and not waste the buffet i think.

I sat in the lobby with Imre and we both discussed how quiet it was.

Funny thing is whenever you talk to a hotel manager in Dubai about occupancy levels they all say exactly the same "80% sir". It's the Dubai rhetoric.

That's why it's always best to do your own research and dont rely on info from anyone else.
I stay in LE Royal MEridien all the time and it IS always busy and at 85% or above. They overbook and "upgrade" people to the Grosvenor which is always busy too. Of the 8 or 10 times I go every year at different times all the beach hotels are mobbed. And in my opinion I didn't like the ATlantis at all. No class.

Payment Relaxation Confirmation : 1st January 2010

I received a letter from SG this morning who have confirmed in writing which has been endorsed (stamped and signed) by Bay Central Developments Ltd from a Matthew Asplin a Manager in Collections that the payment which was due 1st Sept 2009 has now been relaxed for a further 4 months.

And is therefore now not due til 1st Jan 2010.

Payment Relaxation Confirmation : 1st January 2010

I received a letter from SG this morning who have confirmed in writing which has been endorsed (stamped and signed) by Bay Central Developments Ltd from a Matthew Asplin a Manager in Collections that the payment which was due 1st Sept 2009 has now been relaxed for a further 4 months.

And is therefore now not due til 1st Jan 2010.

I take it that is for Standard Payment Plan?

Any news for us LPP people?

I take it that is for Standard Payment Plan?

Any news for us LPP people?

I've got one on each and there is no break for lpp. I happen to agree with this in my case as I have only paid around 40% of lpp. Fairs fair.

hi guys! new to this forum but always read your threads so keep up the good work and the great communication,have a studio in west tower and on the lpp payment plan the build is looking good but have a few worries regarding the lack off communication from dubai as i take it any concerns or questions now have to come from select in dubai and although having emailed them several times have not yet had any replies has anybody else had this problem? dont want to lose faith or anything but a little communication is not asking too much surely!

great pics by the way!!!

Payment Relaxation Confirmation : 1st January 2010

I received a letter from SG this morning who have confirmed in writing which has been endorsed (stamped and signed) by Bay Central Developments Ltd from a Matthew Asplin a Manager in Collections that the payment which was due 1st Sept 2009 has now been relaxed for a further 4 months.

And is therefore now not due til 1st Jan 2010.

I am understanding this correctly...........surely I must be wrong........the payment was due on 1st September but you only received notification of the revised due date today - 10th September. So too late for all investors as they have already made their payment !! So the letter (and revised payment date) is a complete waste of time. :bash:

I am understanding this correctly...........surely I must be wrong........the payment was due on 1st September but you only received notification of the revised due date today - 10th September. So too late for all investors as they have already made their payment !! So the letter (and revised payment date) is a complete waste of time. :bash:

There was verbal communication from SG at end of August. This formal letter just backs it up.

I am understanding this correctly...........surely I must be wrong........the payment was due on 1st September but you only received notification of the revised due date today - 10th September. So too late for all investors as they have already made their payment !! So the letter (and revised payment date) is a complete waste of time. :bash:

Yes, albeit I held off from paying on Sept 1st due to reasons of financial commitments elsewhere and that I had received no reminder for payment or any communications from SG in relation to paying on the 1st of Sept hence therefore I waited.

The letter I received today is dated the 31st Aug 2009

very cheeky, wait and see who coughs up up the cash and then send out a letter, I did not pay my 1st of sep premium so it worked out well but what about the ones who did, doubt they will get a refund? Not a great incentive either come next payment date as people will not bother paying, assuming another premium holiday.....I have not recieved a letter yet though......

There was verbal communication from SG at end of August. This formal letter just backs it up.

You received verbal communication as you were probably speaking to SG at this time, but what about everybody else ?

hi i am on the standard payment plan and i havent received any notification of any extention of the payment holiday but when i asked the question in early august was told by email by select property that no further holidays were about to be given! has anybody else had this experience or have select property taken me for a mug? Cherrs jason.

You received verbal communication as you were probably speaking to SG at this time, but what about everybody else ?

I assume everyone looks after their own affairs as dilligently as i do. I would not leave anything to chance and contacted SG prior to sept 1st as i posted previously. You will recall I also alluded that anyone contacting them would be pleasantly surprised and urged that they do so and don't just default. I personally like to see things in writing before i take it as a done deal so therefor attempted only to point people in the right direction.
I continually post on here that communication with SG is paramount and agreement is a must rather than default.
What more can i say? I find SG accomodating in this respect and have always stated this.

I assume everyone looks after their own affairs as dilligently as i do. I would not leave anything to chance and contacted SG prior to sept 1st as i posted previously. You will recall I also alluded that anyone contacting them would be pleasantly surprised and urged that they do so and don't just default. I personally like to see things in writing before i take it as a done deal so therefor attempted only to point people in the right direction.
I continually post on here that communication with SG is paramount and agreement is a must rather than default.
What more can i say? I find SG accomodating in this respect and have always stated this.

Let's be honest it's a fair old scam. Not eveybody reads SSC and sending a letter out on 31st August is clearly an attempt to show RERA that they have offered a deferment of the payment when in reality most investors would have already paid in order not to be in default. So they appease RERA, but still collect the majority of the money. So DxbPC you see no issue with this...... that's fine you're entitled to your opinion, but I cannot see how you can see this as fair and even more surprised that you can excuse SG for this, unlike you I simply cannot agree as a matter of principle here.

hi i am on the standard payment plan and i havent received any notification of any extention of the payment holiday but when i asked the question in early august was told by email by select property that no further holidays were about to be given! has anybody else had this experience or have select property taken me for a mug? Cherrs jason.

No they have not taken you as a mug they are probably as much in the dark at that time as you were. I contacted Select Group/Property in Dubai several times during August and was eventually told of the break towards the mid/end of August. I think...although not 100% sure...that there are varying degrees of break dependant on the amount you have paid.
Understandably at this moment there is no break for LPP but i would hope that they review this soon as the 3 tower developement that is Bay Central is clearly well behind the revised schedule [only two towers so far] and many people would have fell for the sales pitch that income would pay quarterly payments. Select have to take some responsibility for this at some point and recognise that people were relying on income to pay lpp. I personally planned for a delay due to prior Dubai experiences but some people would have believed the sales team and thought they would get their keys in December.
Select should at least understand this position and offer some kind of compromise.

Good post DxbPC - I wholeheartedly agree with you here.

Let's be honest it's a fair old scam. Not eveybody reads SSC and sending a letter out on 31st August is clearly an attempt to show RERA that they have offered a deferment of the payment when in reality most investors would have already paid in order not to be in default. So they appease RERA, but still collect the majority of the money. So DxbPC you see no issue with this...... that's fine you're entitled to your opinion, but I cannot see how you can see this as fair and even more surprised that you can excuse SG for this, unlike you I simply cannot agree as a matter of principle here.

ok

OK :)

once again, Select has shown how manipulative and calculating they are when it comes to abusing the contract and the laws of dubai.

again, if you are on the SPP, don't pay anything to Select until they show a RERA-approved rescheduled payment plan, linked to construction progress.

does anybody know what facilities will be ready for use when the apartment towers get handed over? i have been asking select property for some time without getting a answer.When i bought 4603 in the central tower i was told we would have the use of 5 star facilities! will this be only the case when the hotel is completed or has the apartments got seperate facilities?.Cheers Jason

No they have not taken you as a mug they are probably as much in the dark at that time as you were. I contacted Select Group/Property in Dubai several times during August and was eventually told of the break towards the mid/end of August. I think...although not 100% sure...that there are varying degrees of break dependant on the amount you have paid.
Understandably at this moment there is no break for LPP but i would hope that they review this soon as the 3 tower developement that is Bay Central is clearly well behind the revised schedule [only two towers so far] and many people would have fell for the sales pitch that income would pay quarterly payments. Select have to take some responsibility for this at some point and recognise that people were relying on income to pay lpp. I personally planned for a delay due to prior Dubai experiences but some people would have believed the sales team and thought they would get their keys in December.
Select should at least understand this position and offer some kind of compromise.

I have paid 50% at present and dont expect these (two) towers to be topped out until at least April 10 at the earliest

Consequently dont feel I should pay the next 20% (taking me to 70% paid ) until Top out when I feel build costs will have hit perhaps 60% .

So from my point of view a Jan 2010 payment is not on

OF COURSE I AM IGNORING THE FACT THAT THE 5 STAR HOTEL FACILITIES MAY NOT BE DELIVERED AFTER ALL ? (ALLEGEDLY OF COURSE )

does anybody know what facilities will be ready for use when the apartment towers get handed over? i have been asking select property for some time without getting a answer.When i bought 4603 in the central tower i was told we would have the use of 5 star facilities! will this be only the case when the hotel is completed or has the apartments got seperate facilities?.Cheers Jason

Both residential towers have gyms, pools, steam, sauna and jacuzzi. The ammenities of the hotel they refer too are restuarants, bars, room service and business centre etc I have been told.

Says Jeff Strachan, the area director of sales and marketing for Marriott, Middle East and Africa.

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

Marriott gets room to grow
Rebecca Bundhun
The national
* Last Updated: September 15. 2009 9:35PM UAE / September 15. 2009 5:35PM GMT

Marriott International, which took over the management of the Harbour Hotel and Residence in Dubai Marina from Emirates Airline yesterday, plans to expand its presence in the emirate, a senior executive said.
............

"Marriott has signed agreements with developers to operate two hotels at Lifestyle City, one in the Marina, one on Sheikh Zayed Road, another two at Healthcare City, one at Jebel Ali and two at Motor City, across its portfolio of brands including Courtyard and Renaissance. Most of the hotels are expected to open between next year and 2012, but construction on those in Jebel Ali and Heathcare City has yet to begin as the broader developments remain on hold. Marriott also has three hotels under construction in Abu Dhabi."

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090915/BUSINESS/709159864/1005

18/September/2009

Bay Central , first pic from the Silverene

http://i27.tinypic.com/16k5q8g.jpg

http://i27.tinypic.com/axn2w9.jpg

http://i28.tinypic.com/2e56sci.jpg

http://i26.tinypic.com/16a5fk3.jpg

What happened to going up a floor every 5 days?

^^
Yeap .. seems like construction progress has halted somewhat.

Its very funny that when i spoke with select in dubai on thursday they told me that the development was going up incredably fast! am i missing something or what?

Its very funny that when i spoke with select in dubai on thursday they told me that the development was going up incredably fast! am i missing something or what?

Did they want another 20% installment by any chance at the same time as they told you this ? :lol::lol:

Similar to Imre's but higher resolution:)

Friday 18th
http://img84.imageshack.us/img84/5661/dubaisept09014.jpg

Does anybody know if the construction has slowed up for Ramadan or am i clutching at straws.I feel really frustated as i am one of the mugs that has fully paid up now and the progress on the project is going slower than normal! if thats possible. BWFC

Come on TB you must have taken 1 for me. :?

Does anybody know if the construction has slowed up for Ramadan or am i clutching at straws.I feel really frustated as i am one of the mugs that has fully paid up now and the progress on the project is going slower than normal! if thats possible. BWFC

project is going at about same pace as the Point and the Torch. Most people on those projects paid up 90% well before completion. Most people will do on BC including me. Handover on BC is likely to be sometime in 2011. Hopefully early 2011. Not much that you or me or anyone else can do about the timescales. Skim though the forums on the Point and the Torch and you will see the gist of what thoughts other people in your position have had over time.

My advice is accept this is going to be the case and relax. The end result I think will pleasing.

What happened to the show flat?

What happened to the show flat?

After initial mock up SG decided it wasn't quite up to scratch so they deided to change things.
Should be ready any day.

^^
Yeap .. seems like construction progress has halted somewhat.
I went past twice last week and there was zero work going on.

I went past twice last week and there was zero work going on.
Ramadam, Eid ul fitr, heat etc. We should start to see things picking up now. If we don't...then we can worry.

There are lots of good contractors out there looking for work, DCE may be playing a silly game here.

What game do you think they are playing? The update we all got from select in august said they are going to top out in December, if they carry on at the pace they seem to be going at the moment that clearly is not going to be the case.At what time are there any financial penelties incured or is it just a case of its ready when its ready.

What game do you think they are playing? The update we all got from select in august said they are going to top out in December, if they carry on at the pace they seem to be going at the moment that clearly is not going to be the case.At what time are there any financial penelties incured or is it just a case of its ready when its ready.

April to top out at very earliest -- to be honest might be quicker if DCE were kicked off

------

April to top out at very earliest -- to be honest might be quicker if DCE were kicked off

I was thinking that also as I suspect that the developer and contractor may be involved in a stand off. I stress I am speculating as I am not privey to any inside info.

The next few weeks will tell as there is no Ramadan excuse anymore.

I was thinking that also as I suspect that the developer and contractor may be involved in a stand off. I stress I am speculating as I am not privey to any inside info.

The next few weeks will tell as there is no Ramadan excuse anymore.

Well i'm not paying more than 50% until one of the two towers is topped out
youre right RAMADAN IS NO EXCUSE NOW

Just coincidental that building slowed to a halt 1 week after many people paid their 20% September 1st payment?? I bloody hope so........

27/September/2009

Bay Central

http://i36.tinypic.com/2vx5c3q.jpg

http://i34.tinypic.com/2zrnw4n.jpg

http://i38.tinypic.com/357m6g7.jpg

yet again imre you give us more feed back than our developers

:wallbash::wallbash::wallbash::wallbash::wallbash::wallbash::wallbash:topped out by xmas ha! ha! is someone having a laugh at our expense or just taking the p---! what about those of us on the lpp do we get a payment holiday soon or just carry on paying until they decide whats happening and what year they plan to finish the build,sorry to sound pessimistic but gone beyond the point of frustration now of not knowing whats happening due to severe lack of communication, thank god for you people and these forums....
just hope it starts making progress soon!!!
great pics again....:wallbash:

be partially happy, at least ur investment is progressing even at a slow rate,

http://farm3.static.flickr.com/2595/3957952227_293232b5eb_b.jpg

Lee i think they are taking the p*ss, the comunication is nothing short off pathetic and shows complete contempt for us as customers.They have no chance of toping out at xmas although they still say thats the case.They say a lot of things and deliver nothing. Keep smiling

Lee i think they are taking the p*ss, the comunication is nothing short off pathetic and shows complete contempt for us as customers.They have no chance of toping out at xmas although they still say thats the case.They say a lot of things and deliver nothing. Keep smiling

Still another 35 floors to go on central tower with progress at 1 floor every 2 weeks that's 70weeks. 70 weeks takes us nicely to xmas!

Christmas 2010!

Nice one true blue, it would be funny if it wasnt so serious.What is the financial implecations on select group if they dont meet the revised completion dates.

Still another 35 floors to go on central tower with progress at 1 floor every 2 weeks that's 70weeks. 70 weeks takes us nicely to xmas!

Christmas 2010!

:hilarious

Nice one true blue, it would be funny if it wasnt so serious.What is the financial implecations on select group if they dont meet the revised completion dates.

Nothing really, they will get out of any contractual implecations thats for sure !