i understand goldline construction has been selected as the main developer and will commence work immenently

Is it a well-known constructor in Dubai?

Is it a well-known constructor in Dubai?

NO

if true its good news

http://www.goldline.ae/

if this is true where and how did mr kay get his info from.

it would be great news but we will have to see some actual building work commenced before we all become enthusiastic about this project again.
^^^^
It would also put a smile on that lone construction worker siting on his backside beside his diesel can on the eden blue site.

Maybe thats all the money investment house got left because of us not paying up:)

Lets wait and see.

Could i on a more serious note thank all who when in dubai visited invests house and put pressure on them to make them aware that clients are unhappy to say the least.

Thank you one and all.

merv

Today

http://i25.tinypic.com/28bqkjb.jpg

Hi bizzy,

just seen the cool photo of eden blue. Its seems to be a little bent as we say here in ulster just like investments house lol:nuts:.

I see you snapped the photo from the dec towers building. Have you any shots of this building as a matter of interest as to how it was finished off?

I see fencing up between edenblue and the ks building. I guess whatever is to be constructed there might be finished before ours gets started!!

Thanks

merv

Developer is taking too much time here to start. Not fair!!!!

Yes, coud someone in Dubai meet investments house to try to get more explanation and to keep presure? If they are not able to sign a contract with low price so my feeling is that they will never built this tower...

Yes, coud someone in Dubai meet investments house to try to get more explanation and to keep presure? If they are not able to sign a contract with low price so my feeling is that they will never built this tower...

They haven't replied to my last two emails. I wrote to RERA (rera.gov.ae) to let them know about what's going on. I do not live in Dubai...unfortunately.

No reply to my last four emails too... Anyone is in Dubai to meet InvHouse???

???

This tower could be built by either investor's money, or a bank loan. Investors will not pour anymore money in this project unless they see 2 things,
1. A contract signed by both by Investments house and the builder. Details of the finishings should be included in the contract.
2. A discount Offer of at least 20% to encourage investors to pay.
The second option would be a loan. The current financial crisis+ Investments House willingness to pay interest on a loan (if they can get it)= impossible.

This tower could be built by either investor's money, or a bank loan. Investors will not pour anymore money in this project unless they see 2 things,
1. A contract signed by both by Investments house and the builder. Details of the finishings should be included in the contract.
2. A discount Offer of at least 20% to encourage investors to pay.
The second option would be a loan. The current financial crisis+ Investments House willingness to pay interest on a loan (if they can get it)= impossible.

Forget the discount

I spoke today with Invest. House, they say 2 weeks and we'll start works.

I spoke today with Invest. House, they say 2 weeks and we'll start works.

Hearing promises from Investment House is one thing, starting the construction on the tower is another.

They said 2 weeks since 5 months so we can no longer believe them... That's why we need to meet them as soon as possible. Could someone could go to their office? Now they have to show us evidence of negociations (words is no longer enough), draft of main contract and exhanges with the contractor and evidence of current final negotiations... If there are not able to show us those evidence (without taking any copies as it is confidential) so that means that there are no active negotiation...

Once again my feeling is that Invesments House faces financial difficulties and that there is currently no real negotiation :bash:... Our money is not really secured as i understood from my talks with Inv House that all is already used...:ohno:

One more question: in my contract i have the following terms: §1 Interpretation "Eden Blue Tower Plan means the plan of the plot and the building attached to the constitution" => the plan is not attached in my contract and i never received it. Is it the same for you? (just asked the Plan to Inv house but they never answer to my last 5 emails...)

Thanks

They said 2 weeks since 5 months so we can no longer believe them... That's why we need to meet them as soon as possible. Could someone could go to their office? Now they have to show us evidence of negociations (words is no longer enough), draft of main contract and exhanges with the contractor and evidence of current final negotiations... If there are not able to show us those evidence (without taking any copies as it is confidential) so that means that there are no active negotiation...

Once again my feeling is that Invesments House faces financial difficulties and that there is currently no real negotiation :bash:... Our money is not really secured as i understood from my talks with Inv House that all is already used...:ohno:

One more question: in my contract i have the following terms: §1 Interpretation "Eden Blue Tower Plan means the plan of the plot and the building attached to the constitution" => the plan is not attached in my contract and i never received it. Is it the same for you? (just asked the Plan to Inv house but they never answer to my last 5 emails...)

Thanks

During my visit to Dubai, last February, I asked from on of the guys I met with to attach the plan to my contract, so he did. It is the same general floor plan that I posted a year ago, no details of the kitchen cabinets or appliances.
The only guarantee we have is the lot. It is owned by investment house but the question is how much is it worth?

Seems to me that inv house is on the brink of folding. Look at the evidence
lies for two years about the whole project
false start dates
failure to specify details of contracts
change in plans
more lies about construction dates
not informing clients about the first phase of financial difficulties.
Increased pricings
new contracts drawn up
small amounts of ground work ( which I believe was paid for by deposits and first stage payments)
using more excuses/ lies about construction costs.
Lack of communications from inv house to clients(which if nothing else is very bad manners)
more lies about start dates.
Limited ground work after water drainagefrom site.
unanswered phone call
unanswered emails
now can anyone in this forum tell me or explain how this bunch in invest
ents house is not going or already gone under with such a poor record as above ?
I'd b very happy to hear what you have to say.
I sometimes am suspicious of people in the forum stating that the contract for the construction has been sign and work will Commence immediatley.
I hope I'm totatlly wrong but I wait in anticipation for goldline to enter the Eden blue plot.
Merv

hey guys, i live in dubai -- actually i am in the marina, very near to the eden blue site.

the idea of going to their office, calling them or emailing for an update does not inspire me at all. being told "2 more weeks" or "we are in final negotiations with a contractor" is getting old and unfortunately, there isnt much leverage to place on them to tell us the truth, however shambolic it may be :-). it appears they are in a "holding pattern", which is a position many developers are taking with their projects (even local developers like al attar) to "see what happens". there have been some positive signs of global recovery (US investment banks showing solid profits being one of them) but another real estate boom in dubai seems unlikely, or at least, very far off.

a part of me is ready to write it off. another part of me has some faith that it might get built, but even if it does... the time it would take to recover the investment (if at all) and make a return doesnt fit my investment plans anymore. And, the thought of currently making payments for something that is over-valued turns my stomach. my "strategy" (for lack of a better word) is to cease all payments. i am hoping that i may be able to recover the money i already invested, including some of that hefty premium, but i would also be content with not having to put EVEN more money into this project and cutting my losses right here and now.

thats my 2 fils. i would be really curious to hear your thoughts.

During my visit to Dubai, last February, I asked from on of the guys I met with to attach the plan to my contract, so he did. It is the same general floor plan that I posted a year ago, no details of the kitchen cabinets or appliances.
The only guarantee we have is the lot. It is owned by investment house but the question is how much is it worth?

I estimate the value of the plot between 6 to 7.5 millions AED at current market prices for land. 200/250 aed per sqft x 30000 sqft I presume

Hi All,

I couldn't understand the above what does it means..??? Now the price for Eden Blue is approximately as per the lunched price or quite less, but not over-valued to whom had purchased during that time.

It is good to see this number of Eden blue interacting with the issue, I am wondering as couple of months ago when I asked for your support to meet with Eden blue I got only 1 or 2 mails.

However, as I am living in Dubai, I’ve been told by investment House that all of us will hear good news shortly.

Let us wait for a few days more and see. We have wait for a long time...! and have nothing more to lose.

They need no justification to tell us that the project is in hold for more time. They promised a good news release shortly.

Right dead on!!! Will have to wait and see anyway. What are they going to do.
Put a couple of weeks at the most into the plot to lead us all into a false sense of security then demand more payments because they bull sh-t us more crap that the project is underway and they will have no less than shifts of workers on the site working 24 hours like the other lies they told us and then pull the plug on the project once again.

Bunch of dammed liars the whole lot in that farsical psuedo company taking us all for a ride. I thought better of these people but stupid me.

They'll get no money out of me untill at least the 12th floor is up.

As for rera not much better.

Just a little rant but seriously disgruntled with inv house.:bash::ohno:

merv

I agree with mr coat that you kind dubai dwellers have gone over and above for total strangers in meeting with these muppets in inv house. I thank you one and all for making the effort especially as i do not live in the uae.

However mr coat is correct in that you have all done as much as is ppossible in the circumstances but to no avail!!

If the company was of any standing they would have communicated their woes long before now out of manners if nothing else.

I think personally that all these communications being made and letters , emails etc is only stressing ourselves out.

Im leaving it in the hands of the lord and he can sort this mess out

merv

The same for me, they'll get no money out of me untill at least the 15th floor is up (floor of my unit):lol:

What would be the issue if we start a lawsuit again Investments House? Can Rera help us?

Hi,

It deems that some of you have gone far pessimistic and disappointed.
As you said, leave it to the God, and I am sure we all will be pleased shortly.:lol:

To be quite realistic, I think the payment has to flow after all of us realize that the project is in the right track and the execution progress is matching the paid amount.

Hi,

It deems that some of you have gone far pessimistic and disappointed.
As you said, leave it to the God, and I am sure we all will be pleased shortly.:lol:

To be quite realistic, I think the payment has to flow after all of us realize that the project is in the right track and the execution progress is matching the paid amount.

BE PESTIMISTIC..........OR OPPTIMISTIC IF YOU LIKE!!!!!
It is probably best to not to be pessimistic at this time, if we know they will start construction soon then we should not feel down.

Welcome back wheresmycoat.

I'm at a loss.

I'm one of those who's been in to see them numerous times. As I said before, I felt positive when I left our meeting, however we are getting used to false dawns.

My own feeling is that if they are struggling financially with material prices as they are, then the outlook is not positive. All they have acheived over the last six months is to alienate all of us which will now further restrict cash flow even if they do get started.

I am very nervous about making payments when/if they start construction and fully agree with Merv that they have given us no reason whatsoever to trust them. However, we should bear in mind that if we start saying they won't see any of our money until such and such floor, we really should not be surprised if construction stalls. This is the risky nature of off-plan investments.

The best way around this, in my opinion, is for everyone to concentrate on pressuring Inv House into accepting milestone payments and then paying up promptly when/if those milestones are reached.

I am outside the Middle East for the next two months, but will visit them as soon as I return.

No money is coming out of my pocket untill I see a new payment plan approved by RERA which should be linked to construction milestones.

Thanks Mazdubai...

Its good to be back!

I think they are going to revise the payment schedule to reflect construction milestones, as this is the way forward as indicated by RERA.

I had a nice chat with Inv House, and I always walk away from the calls feeling "comfortably reassured" but nothing concrete (pardon the pun) has materialised.

I guess we should all adopt the same "wait and see" holding pattern the developers (who are still alive) are playing.

Time will tell, inshallah.

Oh, and they ain't getting another dirham outta me till I see a building outside my window with the name EDEN BLUE on it!

Hope everyone is enjoying their summer.

Dear EDEN BLUE TOWER Investors,


Please give us some time to enjoy with Views & Sun )

Regards

( DEC TOWER OWNERS & TENANTS DREAM COMMUNITY)

:D

Dear EDEN BLUE TOWER Investors,


Please give us some time to enjoy with Views & Sun )

Regards

( DEC TOWER OWNERS & TENANTS DREAM COMMUNITY)

:D

Dear Bizzy,
You will be enjoying them for a long long time.:bash:

^^ Don't worry I LOVE DUBAI when this thing up everything up " Recover is coming soon " about this tower situation it could take 1.5 year to be up ground & another 1.5 year to finish it up... :nuts: every investors looking for a holiday payments to be here and there.

it's all good :D

^^ Don't worry I LOVE DUBAI when this thing up everything up " Recover is coming soon " about this tower situation it could take 1.5 year to be up ground & another 1.5 year to finish it up... :nuts: every investors looking for a holiday payments to be here and there.

it's all good :D

I hope you are right:cry:

I sent many emails to Investment Houses since two weeks. They red them as i had answers but only regading questions about contract and escrow account. They are very ambarrassed about my question regarding the proof of current negotiation and finalization of the main contract. For me it's now obvious that they are not engaged in contract negotiation process and they are just lying to all of us since 6 months...

I wonder what happened to all the money that investors poured in this project. Isnt't there supposed to be an escrow account, and if anything goes wrong investors can collect their money from it? Well last february I was told that there are only 6 million Dirhams left in the escrow account, now god knows how much is left if any? makes me wonder what is the wisdom of having an escrow account if all the money can be withdrawn from it anyway?

Good point.

I have never been able to fully ascertain the ins and outs of an escrow account or how it protects us. Anyway, Paris, if you have any info on the escrow, please post.

Thanks

Regarding the escrow account they are not able to tell me what is the balance of my account (i had just a confirmation of the total amounts i have already send)...

I just called Investments House, they told me that the contract is signed and that we will receive a confirmation by e-mail tomorrow or next sunday... They also confirmed me that the payment plan will be linked to the construction and approved by rera:nuts:

Let's wait and see!!!:cheers:

Regarding the escrow account they are not able to tell me what is the balance of my account (i had just a confirmation of the total amounts i have already send)...

I just called Investments House, they told me that the contract is signed and that we will receive a confirmation by e-mail tomorrow or next sunday... They also confirmed me that the payment plan will be linked to the construction and approved by rera:nuts:

Let's wait and see!!!:cheers:

Lastime I was in Dubai (5 months ago), I was stold by Investments house that they have 6 million in the escrow account.
Regarding the signing of the contract and receiving emails I highly doubt it.

I also doubt but they had no interest to tell me that...

I received a letter from Investment house saying that the contract has been signed with Goldline therfore suggesting that we make a payment in August.
No details whatsoever, no payment plan linked to work, no date on when the work will start, except for their expectations which has no value or meaning.

I just received the same suggesting we 'make arrangements' to pay by 6th of August.

I can't see many jumping for joy at the mere site of a letter dated
1st April.

A far more realistic prospect from them would be if they were to request a payment a month into construction starting.

I just received the same suggesting we 'make arrangements' to pay by 6th of August.

I can't see many jumping for joy at the mere site of a letter dated
1st April.

A far more realistic prospect from them would be if they were to request a payment a month into construction starting.

Good point. I never paid attention to the date. Now I am more suspicious.
If they have signed a contract on the 1st of April, why would they wait 4 months before they announce it? and why would they lie all this time and say that they were still negotiating?

Yes very strange! Waiting for Investments House explaination...
Anyway this is not a bad news, i imagime they know that we will not send any payment before the construction will start and before we will receive a payment plan linked to the construction and approved by RERA... Hope not a long time to wait...

hi all,
i have a cunning plan !!:lol:




what about a letter to the po box of ms mittle to see exactly what her side of the story is re the signing of the contract.

ms mittle may be able to give us some clue if the latest crap is genuine or just more of the same from inv house.

but we should b careful re the payments as if we dont pay will inv house say that we had to put the project on hold because our investors didnt pay up giving them the excuse they have been looking for to put on hold eden blue??

worth a try ive nothing to lose

merv:lol:

Yes very strange! Waiting for Investments House explaination...
Anyway this is not a bad news, i imagime they know that we will not send any payment before the construction will start and before we will receive a payment plan linked to the construction and approved by RERA... Hope not a long time to wait...

A desperate and cheap attempt by Investments House to collect more money from their investors is BAD NEWS.

Why not try contacting the contractors. Interesting that their website says they were established in 1973 and their PO Box number is 1973!

Coincidence/Divine intervention?

A desperate and cheap attempt by Investments House to collect more money from their investors is BAD NEWS.


It has been very clearly defined by RERA that payment should be linked to the progress of construction. Having already paid approx. 50% of
the total cost, it is expected of Investment House to construct a couple
of floors, before they think of approaching the clients for payment, which
is very difficult to raise under the current situation. Also for this project in
particular, the loan facility is not possible from any Financial Institutions in
UAE. Therefore, Investment House should show some tangible results in their
construction work.

I agree. Lets see inv house comply with rera instruction to staged payments.

I have nothing to loose and everything to gain by waiting for building to start also did i read correctly in the letter of acceptance from goldline that they had sufficient funds to construct the tower?

Lets wait and see and pray that all will be well.

merv

http://story.chinanationalnews.com/index.php/ct/9/cid/3a8a80d6f705f8cc/id/525801/cs/1/
http://www.calcuttanews.net/story/525801

Dubai Marina project Eden Blue gets green light
China National News
Saturday 1st August, 2009

Construction will commence later this month on the Eden Blue Tower at Dubai Marina.

Developer Dujan Properties has signed an agreement with Goldline Contracting to construct the 28-storey tower. Piling and shoring was completed earlier this year. According to Dujan the final building plan will be issued by Dubai Marina next week. Mobilization on the site is expected to commence in two weeks, while full-scale construction is scheduled to be underway by the end of of the month.

The 308 apartments in the building have been sold off the plan, some as early as January 2007. For investors in the project the announcement of the awarding of the main construction contract will come as a relief as many projects in the emirate, the UAE, and indeed the Gulf, have been indefinitely delayed or shelved altogether. Dujan has consistently maintained the Eden Blue project would go ahead. The company is believed to have relaxed some payment plans by investors during the contract negotiations which became protracted. As per the law in Dubai, instalment monies handed over by investors are held in an escrow account and are released only for construction work. The Eden Blue escrow account is administered by Amlak Finance and is held at Dubai Islamic Bank. Dujan has written to investors asking them to keep their payments up to date.

For Goldline it is the second major contract it has been awarded in the past month. In early July the contractor was brought in by Al Attar Properties to build its three-tower Vue De Lac project in Jumeirah Lake Towers. Goldline replaced the original contractor who Attar Properties said was not up to the task.

Goldline has committed to a 20-month timeframe for the construction of Eden Blue, with completion scheduled for April 2011.

Hmm....I will wait till I see an article in a European or American newspaper, thankyouverymuch. No disrespect to Calcutta Times or China....

I am not paying another sweet cent until i see some SERIOUS construction action.

Agree, article in well known newspaper not yet found!

I have the following suggestion for every one:
Investment House will probably want to send us a new contract and they will expect us to make immediate payments when the construction begins ( as early as August ). In line with RERA rules which says that construction should be in par with payments, they will have to achieve a certain milestone for us to continue payments. Assuming that all of us have at least paid one third of our installments and assuming that they start in august as they have promised and they go forward on schedule, we can suppose that they will have finished about one third of the construction by january end 2010 ( after six months ). If we divide the remaining amount we owe them by the number of months remaining ( which would be 14 months ) we can get a realistic idea of our payments which would still be to their advantage ( since I think most of us have paid more than one third ). So for example in my case I have paid 45% till date. If I divide the remaining 55% by 14, roughly I will have to pay them 4% per month or 12 % every quarter until construction finishes. I am writing all these details to request every body to form a united front in this respect. It is also important for them to mention in the contract that they will be levied the same penalties for delays as they expect from us. If any body has a better idea please share it with us. However, let us try to be realistic. In my opinion playing the blame game will not solve our problems. We know mistakes have been made by Inv. House and we know that these mistakes have cost us dearly. But we want to look ahead. Lets give them another chance to prove their sincerity.

lets not

let them get the work started to at least the begining of the residential part before any payments

merv

http://www.gowealthy.com/gowealthy/wcms/en/home/news/real-estate/Construction-at-Eden-Blue-Towe-1249198385211.html

lets not

let them get the work started to at least the begining of the residential part before any payments

merv

I agree, and we should not forget that the presence of eqiupments and workers on the site does not mean anything anymore. Let us see the tower rising from the ground before we can discuss anything regarding payments.
I assume that all investors have paid at least 30%, so Investments house should not expect anything before investors witness the 2nd floor being built. It is the new law.

Any news from investments house side? I asked explanation about the date of signature of the LOA letter, and news about the new payment plan which should be approved by RERA but still no answers...

Any sign of mobilization on the site?

I received an email detailing the new payment plan in line with construction

Period 2 -UPON AWARD OF CONTRACT 15% - which means now
Period 3 - UPON COMMENCEMENT OF BASEMENT 1 10%
Period 4 - UPON COMMENCEMENT OF GR. FLOOR 10%
Period 5 - UPON COMMENCEMENT OF 10TH FLOOR 15%
Period 6 - UPON COMMENCEMENT OF 20TH FLOOR 10%
Period 7 - UPON COMPLETION OF CLADDING/ CLOSE OUT 10%
Period 8 - UPON COMPLETION OF FINISHES (FLOORS, WALLS, CEILING) 15%
Period 9 - UPON COMPLETION 15%

The email also contained an invoice for the Period 2 amount and stated that a letter from Rera showing their approval of the payment plan was attached - unfortunately I didnot get this letter but obviously have requested it again from Inv House - I will attached a copy if I get it as I believe it is in Arabic and I only speak English. Maybe someone would translate if for us?

Did anyone else receive the same? If so can you please confirm it is the actual approval of the new plan from Rera?

Does that mean that if we have already paid 50% of the total price so the first payment will be in period 6?

deleted

Haven't received anything yet. Does anyone understand the timelines involved here?

My understanding is that the basement is the 'big' job. So, effectively they want 25% fairly soon and then there is a gap of six??? months til the next payment.

Don't know what you think, but that seems a little heavy going early on.

deleted.

deleted

Does that mean that if we have already paid 50% of the total price so the first payment will be in period 6?

Yes, this is my understanding. What else could it mean? 10% or 15% of the balance due? have not heard of any payment plan that bases its percentage on the balance due.
15% upon award of contract makes it very obvious that is 15% of the unit cost.
An invoice from investments house at this time make things suspicious, trying to make investors think that there is an immediate amount due.
I will have to read the letter in arabic. Dubai banks, please PM me the attached letter.

I think the new figures refer to percentages on the 'outstanding' amount.

I suppose payment plans will be personalised in order to bring people a little closer to each other in terms of payments made so far.

I would assume if you have already paid 50% maybe they'll ask for less initially and so on which sound fair enough.

I think the new figures refer to percentages on the 'outstanding' amount.

I suppose payment plans will be personalised in order to bring people a little closer to each other in terms of payments made so far.

I would assume if you have already paid 50% maybe they'll ask for less initially and so on which sound fair enough.

This cannot be true, the payment plan is very clear, but investments house are trying to confuse investors. Once I receive the letter I will take it to RERA.
15% upon awarding the contract, if it is 15% of the outstanding balance, it will be about 7% of the unit value plus the 52% that I have already paid equals 59% paid upon awarding the contract? Investments house really think that we are that naive?
I am 100% convinced that the new paympent plan approved by RERA is based on the value of the unit. What worries me are the cheap ways Investments house are trying to get money from investors illegally.

Sorry for any confusion. Yes the payment plan I received is based on our outstanding balance only. We have already paid 66% and the rest they are linking to construction. Apparently they have a letter from Rera approving the new plan. The email I received said the letter was attached but only the payment plan and invoice came with the email. I have requested the approval letter from Rera again today - I will attach it here if I receive it tomorrow. I was going to forward our payment plan to Rera to check if it is what they have approved before sending any further payment to inv house. i do not want to delay construction further by withholding payments but believe that having paid 66% I can expect to see some construction taking place.

Thanks for the clarification Dubaibanks.

That makes much more sense seeing as though they appear to be in need of cash fairly soon.

I understood 'award of contract' to mean award of building contract, and not the sales and purchase agreement (or whatever our contracts are called)

I have received the letter from Investment House which shows the new payment plan stamped by Rera - it is in Arabic but I cannot seem to attach it here - if anyone knows how to attach it and can translate it please PM me your email address and I will forward it to you.

Many thanks

Thanks Dubai Banks for the letter, for me it is clear that the payment plan stamped by rera is on the total amount and not the remaining one (i am waiting for the translation). Period 1 is booking and reservation payment shown as "paid"=> Period 2 to 9 is the difference between the total amount and the booking and reservation payment.

I have calculated that, as i have already paid 53%, my next payment will be in Period 5 - UPON COMMENCEMENT OF 10TH FLOOR. Seems to be fare...

Thanks Dubai Banks for the letter, for me it is clear that the payment plan stamped by rera is on the total amount and not the remaining one (i am waiting for the translation). Period 1 is booking and reservation payment shown as "paid"=> Period 2 to 9 is the difference between the total amount and the booking and reservation payment.

I have calculated that, as i have already paid 53%, my next payment will be in Period 5 - UPON COMMENCEMENT OF 10TH FLOOR. Seems to be fare...

Booking and reservation was 10% or 5% I cannot remember.
I am pretty sure that awarding of the contract means investments house awarding the contract to investors because in all payment plans awarding contracts comes as number 2 after booking and reservation.
Now I know how RERA stamped the payment plan, only if the new that booking and reservation is 66% in some cases and 52% in others.
But no problem, they will know soon what Investments house is trying to do.

ilovedubai,

Looking at the letter (thanks Paris and dubaibanks), I agree with you. This reads as though we have nothing to pay until commencement of the 20th floor.

Nothing significant in the Arabic as far as I can glean. They are happy to issue this payment plan to all investors provided it doesn't conflict with agreements between the two parties ... (please correct me if I am wrong)

You can see the amount you have paid for Period 1 (Reservation and Booking) on your former payment schedule (in your contract). For me it was 22% of the total amount. The remaining amount (88%) should be paid according to the new payment plan approved by RERA... So nothing to pay for the next few months as i have already paid 40% of the remaining amount (53% of the total amount)...

Is there any sign of mobilization on the site as said in the press release?

I checked my calculations and I have paid 62% of the total amount so it is my understanding that I do not need to pay any further installments until period 7? I think I will check with Rera before speaking to Inv House - I will be in Dubai again end October so will pay the developer a visit.

You can see the amount you have paid for Period 1 (Reservation and Booking) on your former payment schedule (in your contract). For me it was 22% of the total amount. The remaining amount (88%) should be paid according to the new payment plan approved by RERA... So nothing to pay for the next few months as i have already paid 40% of the remaining amount (53% of the total amount)...

Is there any sign of mobilization on the site as said in the press release?

I see what you mean, I found my reservation and booking on my former payment schedule and it is 29% of the total amount. The remaining amount is 71% of the total amount. I made 3 payments after that, they equal to 30% of the remaining amount, which means period 2 (15%)and 3 (10%) are paid already, when it is time for period 4 I will have 5% remaining so I will have to pay 5% which will add up to 10%

Hi all,

ParisDubai, I think you will have to pay at period 6 and not 5 according to your total payment 53%.

I think all of us have to look at his total paid amount and match it with the new payment plan, and will find when he has to pay.

I was wondering that some of you have been confused if this plan for the balance payment or for the total amount. It is clear that this payment plan has a total percentage of 100% of the flat value, so just match your paid amount up to this moment and see where you are standing. The only thing is period 1 is not mentioned her because RERA maybe consider it as reservation.

If this is true then I think it is fair.

Hi all,

ParisDubai, I think you will have to pay at period 6 and not 5 according to your total payment 53%.

I think all of us have to look at his total paid amount and match it with the new payment plan, and will find when he has to pay.

I was wondering that some of you have been confused if this plan for the balance payment or for the total amount. It is clear that this payment plan has a total percentage of 100% of the flat value, so just match your paid amount up to this moment and see where you are standing. The only thing is period 1 is not mentioned her because RERA maybe consider it as reservation.

If this is true then I think it is fair.

There is a big confusion, Investments house did this on purpose, RERA will understand the payment plan in a certain way, and investments house wants to make investors understand that all what have been paid is reservation and booking, that is why they sent Dubaibanks an invoice although he paid 66% of the total value of the unit.
I will take the new approved plan to RERA and ask them about period 1 to clear up the confusion.
My original reservation and booking was 10% then I made 4 payments. When the contract was prepared a year later, they added the 4 payments amount to the 10% I paid earlier and labeled the total as booking and resrevations. I made 3 more payments after that and they think they can add them all again and label them as booking and resrevation. Very cheap trick.

drove by the site today. looks exactly the same. no people, no heavy equipment. nothing.

ok, it was friday and ramadan does start tomorrow. but, still...

Has anyone , besides Dubaibanks, received the email with the new RERA approved payment schedule?

No... And Investments House don't want to answer my questions regarding the approval of the final building permit and the mobilization on site... So i have no news since end of July...
I have e-mail goldline to try to get more news, but of course no answer too...

Has anyone , besides Dubaibanks, received the email with the new RERA approved payment schedule?

I think the only reason I received the payment plan etc was because I pestered Iqtidar Hussain to death by email.

I have emailed the payment plan and invoice to Rera last week but todate still haven't had a response.

I know Inv House told us not to expect much during Ramadam and that we will see a lot more activity on site after it is over?

If anyone can go to see Rera to check out the new plan I would be grateful to hear what they say as we are only in Dubai at the end of October.

Inv House did tell me by email that everyone would receive a copy of their plan last week?

I know I didn't receive anything from I H.
When you emailed the invoice and the new payment plan to RERA. did you enquire about the the resevation and booking amount?

I know I didn't receive anything from I H.
When you emailed the invoice and the new payment plan to RERA. did you enquire about the the resevation and booking amount?

Yes - I told them we had paid 62% todate and that Inv. House have put all this down to Booking & Res and split the remaining balance in over the remaining installments - I wish they would hurry up and reply - I have chased them twice already.

I received the following answer from Goldline Contracting LLC
"As per your mail , we have been appointed as the main contractor of Eden Blue Tower in Marina . The Commencement of the construction will begin shortly"

I don't suppose anyone has managed to speak to Rera about the new payment plan yet have they?

I don't suppose anyone has managed to speak to Rera about the new payment plan yet have they?
I emailed them but no response yet. I am planning on visiting their legal department soon.

I think you are pushing hard to know the legality of the payment plan that only Dubai banks has received.

We are not really sure what is the final payment schedule yet, and we assume it will be the same as dubai banks one.

I my self called Inv.H and they said they will send the new payment planit to all investors once it is ready.

How RERA will respond to you if they don’t have the official payment plan submitted by investment house...??

I think it is better to be patiant, and wait for the final plan, accordingly we can act.

I emailed them but no resonse yet. I am planning on visiting their legal department soon.



I understand that the new payment plan is being sent to all the buyers by Eden Blue. They are treating the initial amount be it 50 or 60% paid to them as Booking cum Reservation Deposit and now claim fresh payments to be made immediately which is not justified. As I am expected to come to
Dubai only by 1st week of Oct, a request is being made to those staying
in Dubai now to take up this matter firmly as they deem fit, thus making
Investment House understand that calculation of payment should be in line
with the construction work which they plan to commence shortly. Investment
House have the right to ask for further payments only from those who have paid only 20% or less so far and not the investors who have alrady paid 45% and above.

I think you are pushing hard to know the legality of the payment plan that only Dubai banks has received.

We are not really sure what is the final payment schedule yet, and we assume it will be the same as dubai banks one.

I my self called Inv.H and they said they will send the new payment planit to all investors once it is ready.

How RERA will respond to you if they don’t have the official payment plan submitted by investment house...??

I think it is better to be patiant, and wait for the final plan, accordingly we can act.

As being investors, we are all together in this matter, we should help each other out. If INV HOUSE sent an invoice to dubai banks who paid 62%, what would I expect from them to send me when I paid 51%? a delayed payment plan?
We are racing to RERA to help dubai banks and to be ready for the worse that INVESTMEN HOUSE has planned for us, I do not trust them any more they played games before, they are still playing games with us and we better be ready.

I am planning on visiting their legal department soon.


Inv House have a legal department?! Get outta here. ;-)

As being investors, we are all together in this matter, we should help each other out. If INV HOUSE sent an invoice to dubai banks who paid 62%, what would I expect from them to send me when I paid 51%? a delayed payment plan?
We are racing to RERA to help dubai banks and to be ready for the worse that INVESTMEN HOUSE has planned for us, I do not trust them any more they played games before, they are still playing games with us and we better be ready.


A need of the hour is that we all stand united to make a joint representation to Investment House through the Authorities' concerned , thereby protecting
our interest and rights. There is no logic behind Investment House' request for additional payments again from those who have already paid 45% and above, and blocked with them for over 2 years. It is expected of I.H to make rapid progress in construction and ask for further payment when the appropriate stage of construction is attained. We should not yield to
any pressure or demand as long as there is a stringent Law in force by which I.H have a binding to collect payments based on the progress ofconstruction.
This is a very serious matter and , therefore, I reiterate that the Members of all Eden Blue should consider as one family in safeguarding our interest.

Inv House have a legal department?! Get outta here. ;-)

RERA'S legal department

hello guys
i like you very much as you are still hopeful or sometimes believe INV.HS
Which of INV HS letters to us had the authorised signatory of the company?
They are not playing with us the make fun of us
because they did whatever they wanted to us and nothing we can do.
Can we show them their own letters and contract to proof ourself?
They have milions of reasons to reject their own promises.
Can we go to RERA. Just try it. wait 2 hrs in stairs and reach the officer. he will give you a list of regulations by RERA in arabic and call the next
Can we open a case in court? we should pay 50K and wait 18 months.
INV HS last letter was wriiten that the contractor will start the job( at least moblizing the materials) by Aug.15 so pay soon
Aug.2009 is over now and the sands on the Eden Blue land going by wind.
God bless you all

hello guys
i like you very much as you are still hopeful or sometimes believe INV.HS

DEAR HASSAN41. MAYBE YOU ARE RIGHT. WE CAN NOT TAKE THEM TO RERA OR TO THE COURT. BUT THE BALL IS IN OUR COURT. ARE WE GOING TO ALLOW OURSELVES TO BE FOOLED ONCE MORE AND ALLOW INV. HOUSE TO DICTATE THEIR TERMS? ENOUGH IS ENOUGH. ONE NEEDS TO JUST LOOK AT THEIR PAYMENT PLAN. THEY HAVE CONSIDERED EVERY DIRHAM WE HAVE PAID SO FAR AS DEPOSIT AND HAVE DIVIDED THE REMAINING BALANCE INTO PERIODIC INSTALLMENTS. THEY HAVE EVEN GONE SO FAR AS NOT MENTION ANY DATES ( JUST MILESTONES ). ACCORDING TO THEIR PAYMENT PLAN, THE CONSTRUCTION COULD WELL EXTEND UNTIL 2015 SINCE THEY HAVE NOT MENTIONED DATES. IF I CANT TAKE THEM TO COURT, AT LEAST I WILL NOT BE FOOLED TO PAY THEM ANY THING. LET THEM TAKE ME TO THE COURT.

Hi,

Hassan 41, Dubai Family.

I understand your anger from investment house, but at the same time all investors need to keep optimistic this project is coming true finally.

All of us hade suspected Inv.House, and the trust has lost. That’s why most of us are not so confident to pay at least at the current situation, until we see some thing going on the site.

But I think also you both went far in scaring Eden Blue investors, who are looking for any positive sign after all this hard time we all had faced.

However, I went to the site today, the only new thing is Golden line name is added to the sign board as the main contractor.

Inv. House told the work “contractor mobilization" will start by September 18th.

I have received the same payment plan that you all know.
Apparently they are in need for some payments, so they have proportionally divided the payment on periodically plan.
For example if the flat total price is AED 500,000/- and 100,000/- is paid so far, then the 15% which should be against the award of contract will be 75,000/- but the actual requested to pay is 60,000/-, which I think it is also unfair after blocking our money for 2 years.

By the way RERA has conditionally approved this payment plan. RERA letter has a close in Arabic says “ No objection if this will have no contradiction with the original payment plan or the investors would like to continue to pay as per the original contractual payment plan.

Hi,

Hassan 41, Dubai Family.

I understand your anger from investment house, but at the same time all investors need to keep optimistic this project is coming true finally.

All of us hade suspected Inv.House, and the trust has lost. That’s why most of us are not so confident to pay at least at the current situation, until we see some thing going on the site.

But I think also you both went far in scaring Eden Blue investors, who are looking for any positive sign after all this hard time we all had faced.

However, I went to the site today, the only new thing is Golden line name is added to the sign board as the main contractor.

Inv. House told the work “contractor mobilization" will start by September 18th.

I have received the same payment plan that you all know.
Apparently they are in need for some payments, so they have proportionally divided the payment on periodically plan.
For example if the flat total price is AED 500,000/- and 100,000/- is paid so far, then the 15% which should be against the award of contract will be 75,000/- but the actual requested to pay is 60,000/-, which I think it is also unfair after blocking our money for 2 years.

By the way RERA has conditionally approved this payment plan. RERA letter has a close in Arabic says “ No objection if this will have no contradiction with the original payment plan or the investors would like to continue to pay as per the original contractual payment plan.

BOOKING AND RESREVATION PAID?
The amount paid by investors which equals to 62% in some cases and 51% in my case is NOT booking and resrevation.
If INV. HOUSE want us to think that this is the case they are mistaken.
If they have collected an average of 50% from all investors then they should have enough funds to start the construction.
Demanding generous investors who have paid more than their share to make more payments while other investors are still behind on their payments is WRONG. They have been using our money to build other investors units.
Playing games with us with the so called RERA approved payment plan which does not even specify the percentage of the booking and reservation makes them look like crooks.

Dear MZDUBAI

I have read the RERA letter and I think they have approved the payment plan suggested by INV HS in terms of payments made in percentage. What they have not approved is that INV HS is considering our entire previous payments as BOOKING and the balance they are considering as proportionate payments. This is the unfair part. I endorse the views expressed by I LOVE DUBAI.

Yes I paid the 46% of the original price, but hte tower is not at the 46% level. What are you going to do?

DEAR FRIENDS,
THIS EMAIL HAS BEEN CIRCULATED AMONG MANY INVESTORS. IF YOU NEED LEGAL ADVICE, YOU CAN CONTACT THEM. I INTEND TO DO SO:




Unhappy with a Developer in Dubai?

Making payments with no sign of construction start?

Cannot keep up with payments on multiple units?

Need someone to help?

As a result of the problems caused by the credit crunch, we are receiving a large number of enquiries from clients who are experiencing problems with making their payments and negotiating with unsympathetic Developers.
We understand that it is in our interest to help our clients to resolve these issues and we are therefore proud to announce the Legal Support Service in conjunction with HKH Kenwright & Cox Solicitors.

For a fixed consultation fee of AED 5,000, HKH Kenwright & Cox Solicitors will:
1. Appoint a dedicated Case Manager to work with you.
2. Provide an initial consultation meeting at one of our offices in either Dubai or in their office in Ilford, Essex.
3. Review your Sale and Purchase Agreements, Reservation Forms, Title Deeds and other documentation you provide to establish your legal position.
4. Research the current status of the property, if off-plan.
5. Verify the status of the Developer and ensure the transaction or sale(s) comply with Dubai Land Laws.
6. Contact the Developer on your behalf with a view to obtaining:
a. An update regarding construction and completion timescales
b. Amended payment plans in accordance with Dubai Land Laws
c. An agreement to consolidating payments for multiple unit (where possible)
d. Payment rebates or credit notes where possible
7. Provide a comprehensive report on their findings including recommendations as to further courses of action where applicable.
Further action


The Legal Support Service has been designed to provide a value-for-money legal assessment of your status in relation to disputes involving UAE real estate transactions. If after this you decide to take further action, there are 2 options available:
8. No-win-no-fee basis
Depending on the circumstances concerning your case, HKH Kenwright & Cox Solicitors may agree to work on your case on a no win-no-fee basis. In these instances fees will be paid based on an agreed percentage of the net sum recovered.
9. Pay as you go
HKH will charge a discounted rate to undertake some or all of the following activities:
a. Instigating legal action in the courts or arbitration.
b. Providing advocacy at court hearings or arbitration hearings.
c. Provide ongoing representation and assistance as required.
All costs will be agreed with you before HKH undertakes the necessary activity and in some cases they will be recoverable from the Developer if the action is successful.
Investors Group Action
Investors groups are achieving notable success in urging Developers to address their concerns. In some high profile cases they have agreed new payment plans and rebates with Developers where individuals have failed.
In light of this, Properties Dubai will canvass our clients to seek their opinions on establishing an Investors Group in the UK. It is hoped that by bringing investors together to with similar concerns we will emulate the successes of groups in Dubai and reduce the costs of legal action. A brief questionnaire will be sent to you in the near future.
Why use HKH Kenwright & Cox Solicitors?
o Developers are much more likely to respond to a solicitor demanding action rather than individual investors.
o HKH Kenwright and Cox are experienced in Dubai Land Laws. They have developed a strong reputation for resolving cases and are currently acting for clients against five developers in Dubai.
o Under the terms of the Legal Support Service, HKH will charge a fixed fee so you always know where you stand.
o If you decide to take further action, HKH will agree their fees with you every step of the way.
o In the majority of cases HKH will agree to take further action on a no-win-no-fee basis.
About HKH Kenwright & Cox Solicitors
Established in 1935.
Office in Ilford Essex and affiliate office in Dubai.
Links with several advocacy firms in Dubai.
As with all legal action, we cannot guarantee a satisfactory outcome. However HKH Kenwright and Cox Solicitors promise to assist you to the best of their abilities and by using their extensive knowledge and network of connections get the best possible result.


To find out more please contact me on the number below or contact me on:
asif@propertiesdubai.com
Asif Choudhary
Managing Director
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I sent my new payment plan to Inv House (with booking and reservation amount = to my contract signed by them - i have paid 53% so next payment is period 5) asking them to sign it on the company letter head:)

As they don't understand RERA payment plan i explained them....:)

I sent my new payment plan to Inv House (with booking and reservation amount = to my contract signed by them - i have paid 53% so next payment is period 5) asking them to sign it on the company letter head:)

As they don't understand RERA payment plan i explained them....:)

They understand it very well. They just want to play games to get more money now.

it is few days i saw movements at site. definetely something is now happening there

Any pics?

Still need to see building started. I emailed mr Husain and told him so. No reply

18/September/2009

Eden Blue Tower

http://i32.tinypic.com/rsc2vm.jpg

http://i26.tinypic.com/2lsgp46.jpg

http://i32.tinypic.com/z362b.jpg

http://i28.tinypic.com/20i89ed.jpg

Thanks Imre!
No sign of mobilization...

Hello All
everyone received a letter form INV HS confirming the construction would start on Sep. 18. I was on the site today and saw nothing but a sign of the appointed contractor. Wish you all a happy Eid holiday.

hassan41,

now now dont be a child.

speak little of what you do know and nothing of what you dont know.

happy hols:ohno:

merv:lol:

According to Inv House, mobilization has started....

Most contractors are on holiday until Wednesday. Maybe Imre can check again in a week.

Mazdu
they are liers. Will have too prove themselves with substancial building work to redeem the company reputation. Maybe mobilization is started in the uk. They are just waiting for cheep shipping costs to get the cranes etc over to the UAE
Merv

wait till next sunday. If nothing there then :mad2:

Please, be realistic, what do you think contractor mobilization is a magic touch in one day...?!!! I am working related to construction, this will take at least another 15-20 days to be completed, Imre photo are taken in Friday which is a holiday, I was there Saturday 19th Sep, and saw a full bus of the contractor's labours are leaving the site.

Also, you need to note the modification on site, the fens expansion, the new washing room and the water tanks beside, the forklift, the wood staff behind the labour,...

Things will get improved shortly, just be patient.

No news?

Hi All
We are going on hol to Dubai on 29 Oct and will visit Inv House and the site. Hopefully then construction will be in full swing then? Only then will we send further payment. We do not wish to hold up the build by withholding payment any longer than we have to.

We will take some pics whilst we are there.

sorry but i should clear a lot of suggestion in here who's have the controller above the developer and the main contractor company ! it's on hold since we knew the main contractor which is the same contractor with Dheeraj and east coast developer in culture village and they work alone in middle of desert with D1 tower ! who's on hold for who and why ? to save DEC view or it's a bankruptcy company not paying for the main contractor and all pressure coming from wrong side a lot of question need to be answer in this tower ! they have a good access to complete this tower in fully speed of progress and they can do it just now n now :) ...

Emaar as master developer should be at least announced a general deadline date for all these projects which on hold in Dubai marina ....we need this community just completed in specific time . Rera can't handle any buzziness anymore they show us a lot of weakness ...investors in here should be in paradise holiday payments , however this thing still in groundwork status i don't really know are they going to pay also for Iran war or something !

Hi All
We are going on hol to Dubai on 29 Oct and will visit Inv House and the site. Hopefully then construction will be in full swing then? Only then will we send further payment. We do not wish to hold up the build by withholding payment any longer than we have to.

We will take some pics whilst we are there.

I will be a complete IDIOT if I let Inv. House get away with their plan of adding everything that I have paid and giving it the name booking and resrevation and start sending them payments so they can build the basement and take another 2 or 3 years break. I don't even have any specifications in my contract, are their going to be tiles in the bathroom? cabinets in the Kitchen? Doors? does anyone has in his contract any details of the finishings? This is a very important matter. What if before the handover Inv. House will ask us then to pay for the finishing and their execuse will be that our contracts do not include finshing the units? Did any investor think about that? Didn't they do that before when they added the common area and increased the price of the units? Didn't they also promised us that specificatrions clause will be added to our contracts in August of 2008? It is September 2009. Did any of you receive it? Why should we give them the benefit of the doubt and assume that we will receive a finished unit?

i have same problem as you with different developer, they are asking for money like i have just signed a contract, 3 years have passed and nothing has been done after 40% paid they are asking for funds in septmeber which is now so they can put up a fence, they are not even considerd that i have paid 40%, these developers are thinking we are idiots, i wont be paying a cent .

I will be a complete IDIOT if I let Inv. House get away with their plan of adding everything that I have paid and giving it the name booking and resrevation and start sending them payments so they can build the basement and take another 2 or 3 years break. I don't even have any specifications in my contract, are their going to be tiles in the bathroom? cabinets in the Kitchen? Doors? does anyone has in his contract any details of the finishings? This is a very important matter. What if before the handover Inv. House will ask us then to pay for the finishing and their execuse will be that our contracts do not include finshing the units? Did any investor think about that? Didn't they do that before when they added the common area and increased the price of the units? Didn't they also promised us that specificatrions clause will be added to our contracts in August of 2008? It is September 2009. Did any of you receive it? Why should we give them the benefit of the doubt and assume that we will receive a finished unit?

I drove by on Saturday, life is sent back to the project, and a lot of labours are on site, you can hear the machines voice, engineers and consultant offices relocated, very impressive after this long time.:banana:

As I told you all after the meeting I had with inv house last may. Things are improving.

I never heard of such a scenario I love dubai, (unfinished flat), don’t you think you went quite far with your imagination. Yes we need to be careful but it is better to contact Inv House and try to get the finishing standards from them now.

Earlier it was quite difficult for them to provide us with this, since they sign the contract they must would have agreed these specs with the contractor who also has an electromechanical division, so all the construction works will be in house within Goldline contracting Co.

good news! waiting for IMRE pics!

deleted

I never heard of such a scenario I love dubai, (unfinished flat), don’t you think you went quite far with your imagination. Yes we need to be careful but it is better to contact Inv House and try to get the finishing standards from them now.

.

I also never heard of a contract witout any sepcifications or even any mentioning of the finishing, you can be an Idiot and take the devlopers word for it and hope and pray that they will put cabinets and doors and paint and tiles, or you can be smart and request it in writing.
If you never heard of such scenario you will hear it when Inv. House ask for additional money to finsh your unit they are experts in playing dirty games.
By the way looking at the floor plan they stapled to my contract, there are no cabinets or appliances in the kitchen.

really good news MZDUBAI , i hope they are finally listening :)

We are so smart now..!!!, why didn’t you ask for the finishing specs from the beginning when you decided to buy the flat or at least when you received your contract..? you can also be so aggressive and insist them for the finishing standards now before you pay any thing. We all will be more than happy to know the finishing details.

We are so smart now..!!!, why didn’t you ask for the finishing specs from the beginning when you decided to buy the flat or at least when you received your contract..? you can also be so aggressive and insist them for the finishing standards now before you pay any thing. We all will be more than happy to know the finishing details.

I bought my apartmenet in another project and in the contract there was written that the finishing will be of "incredible quality" . At the end i got chinese products from tiles to doors! For them this is incredible quality and you can not do anything. You should have mentioned the brands of the products. They will never do it unless you like to see Chinese symbols in your papers:ohno:
This was Dubai few years ago and we are all suffering for not being firm enough at that time.

We are so smart now..!!!, why didn’t you ask for the finishing specs from the beginning when you decided to buy the flat or at least when you received your contract..? you can also be so aggressive and insist them for the finishing standards now before you pay any thing. We all will be more than happy to know the finishing details.

This is what I am intending to do.
I have always been smart about it, every time I visited their office I demanded that missing part in my contract and they promised that it will be added to my contract in August 2008.
At that time I gave them the benefit of the doubt, but not anymore.

I bought my apartmenet in another project and in the contract there was written that the finishing will be of "incredible quality" . At the end i got chinese products from tiles to doors! For them this is incredible quality and you can not do anything. You should have mentioned the brands of the products. They will never do it unless you like to see Chinese symbols in your papers:ohno:
This was Dubai few years ago and we are all suffering for not being firm enough at that time.

Well at least in your contract in the other project the finishing was mentioned.
Our contract is missing that part, and I advise all Eden Blue Investors to demand Inv. House to add it as they promised before making any further payments.

02/October/2009

Eden Blue , many workers there on Friday as well.

http://i38.tinypic.com/dbpovc.jpg

http://i34.tinypic.com/xm76ag.jpg

http://i34.tinypic.com/350wl0l.jpg

Thanks IMRE! At least, sign of work!

MZDUBAI:

I THINK I NEED TO THANK MZDUBAI FOR KEEPING OUR HOPES ALIVE. I APPRECIATE YOUR POSITIVE ATTITUDE. HOPE INV HOUSE CAN LIVE UPTO THEIR PROMISE.

Thank you dubai family, appreciate your kind massage.

From www.edenbluetower.com

Eden Blue construction contract awarded to Goldline Contracting

Dujan Properties Limited developer of high end properties in the Emirates has awarded the main contract for the development of its signature project Eden Blue in Dubai Marina to Goldline Contracting Co. The piling, shoring and excavation works have been completed by Sharaf Foundations who have now handed over the site to Goldline Contracting Co. to commence the main construction works.

This luxury development will comprise of two developments located adjacent to each other. Tower A consists of two basements, retail in the ground floor and three typical floors, where as Tower B consists of two basements, retail in the ground floor, twenty seven typical floors with roof top health club fitted with state of the art facilities such as pool, Jacuzzi, sauna and fitness club, and surrounded by beautiful palm trees and landscapes.

Once ready this magnificent tower will consist of 216 studios, 162 one bedroom apartments, thirteen 3 & 4 bedroom luxurious duplex, 14,920 square feet of retail area; tastefully appointed with some of the best finishes.

Eden Blue is less than 150 meters away from the sea with amazing view of the ocean, marina, the biggest berth in the marina, Palm Jumeirah and Shaikh Zayed Road. In addition, Eden Blue is in close proximity to some of the finest hotels and residential developments, Metro, Internet City, Media City and other major land marks in the area. The promenade with cosmopolitan restaurants and boardwalk makes Eden Blue a truly dynamic environment.

A kind of dream:)...

Don't like the mix of apartments in this building. 378 studios and 1 beds, no 2 beds and 13 3 and 4 beds. Far too dense which could result in excessive wear and tear to the facilities.

Will help if end users keep for occasional holiday use only.

Last 2 weeks i asked many times the finishing standards to Inv house but still no answer, i will continue...
Still many workers on the site?

Last 2 weeks i asked many times the finishing standards to Inv house but still no answer, i will continue...
Still many workers on the site?

Good amount of workers even today. Just passed by the site.

Regarding the finishing standard, they will NEVER put in written anything.

But they promised us clause 8 will be added to our contracts in August 2008 and will contain all finishing details. I say no clause 8, no more payments. This is the only language they seem to understand.

But they promised us clause 8 will be added to our contracts in August 2008 and will contain all finishing details. I say no clause 8, no more payments. This is the only language they seem to understand.

you should have the brand name of the fittings from tiles to lights and the product code they want to use of that particular brand. They will not do it unless you accept chinese or unknown brands and most probably they will write something like "finishing of excellent quality". Then the word "excellent" has different meanings in front of a judge and you loose.

http://rpdubai.ae/rpdubai/SharedFolder/ProgressIndicator/515_122.jpg

Thanks Bizzybonita!
Just get the answer from Inv House => they expext to send us the details of finishing standards in 3 or 4 months as it is not yet ready... They also threatened to hold on the construction if the clients do not respect their payment plan... :bash:I replied that my next payment is for period 5 (UPON COMMENCEMENT OF 10TH FLOOR) as i have already paid 53%, and anyway no payment untill i get appendix A...

Thanks Bizzybonita!
Just get the answer from Inv House => they expext to send us the details of finishing standards in 3 or 4 months as it is not yet ready... They also threatened to hold on the construction if the clients do not respect their payment plan... :bash:I replied that my next payment is for period 5 (UPON COMMENCEMENT OF 10TH FLOOR) as i have already paid 53%, and anyway no payment untill i get appendix A...


Hello Inv. House :nuts: . If you are listening, here on earth they don't add all payments to booking and reservation and rename it booking and reservation :down:. Did you forget that in our contracts booking and resrevation amount is specified :banana:, and the contract is signed by you :banana:?
Send your accountant or who ever came up with this idea back to Mars :crazy2:, or where ever he is from :weird:. We deserve to be treated in a more earthly manner :master:. And by the way, Dubai is still on planet earth :lol: .

I know of some investors who have lost everything and have no chance of recovering their money due to them stopping payments to their developer. The developer had enough and fled the coountry with no trace.

I really think we should all try to work together now and get this bloody tower built?

I'm afraid witholding payment could suspend or even halt the construction and then we would all lose our investment??

:ohno:

Dubai banks, i agree with you but i do not consider that the last payment plan sent by Inv house is compliant with RERA approval.
I will pay the next payment in due time and according to RERA payment plan only. I don't want to loose all my money... We have all paid almost 50% so now they have money to start the construction and our payments will be linked to the construction progress. It is very fair.

If, with 50% of the total amount, they have not enough money to start the tower so they will of course not have enough money to finish the tower, even with 100% of the amout...

If we all send our payments in due time and in accordance with RERA payment plan (means Period 1 = Reservation and Booking payment as per our SPA contract), so they are absolutly no reason why they will face financial difficulties to built the tower...

I know of some investors who have lost everything and have no chance of recovering their money due to them stopping payments to their developer. The developer had enough and fled the coountry with no trace.

I really think we should all try to work together now and get this bloody tower built?

I'm afraid witholding payment could suspend or even halt the construction and then we would all lose our investment??

:ohno:

Are you suggesting that we should give the developer a chance to flee the country with more money? :nuts:

Are you suggesting that we should give the developer a chance to flee the country with more money? :nuts:

Of course not but I don't want to lose my life savings either - I doubt we'll get our money back if the project is cancelled due to lack of funds

Of course not but I don't want to lose my life savings either - I doubt we'll get our money back if the project is cancelled due to lack of funds
And if you make more payments, how can you guarantee that the tower will be built? in this case your loss will be greater.

Unlike the Eden Blue payment plan, I looked at RERA approved payment plans for different projects and they all specify the percentage of booking and reservation. like this one,

http://img164.imageshack.us/i/plazapaymentplanapprova.pdf/

I actually emailed the payment plan to Rera and explained what Inv Hse had done and they emailed me back after a few weeks and said it is fine by them.

We are in Dubai from 30th Oct and will go to see Inv House about the plan before sending any more money. I wouldn't mind going to see Rera with our contract/p. plan just to double check that they are actually ok with it. Does anyone know where Rera offices are? Are they in Dubai.

We also need to visit Ajman, Emirates Lake Towers, which we believe is just sand at the moment and delayed by 1 yr? We have paid 50% of our apt in Chapal Corals but there is no sign of construction there yet and ARRA haven't issued a law about construction linked payments in Ajman so we are even more nervous about that purchase! :(

Just hoping it all comes out clean in the wash!!!

sent u a PM

Investors beware. I have done some math and according to the way Investments House want the payments we will end up paying about 70% when they start on the 1st floor and the final payment is about 8% due upon handover .
Now think about this carefully. If they don't have enough money and need 70% to be able to reach to the 1st floor, would 22% be enough to build and finish 27 floors?
Something here is very wrong.
Dubai Banks, good luck when you go to RERA but I don't think they will understand the trick that Investment house pulled on them. And if they say the plan is OK with them it is because they don't care about your money and will not give you a refund when Investments house decides to take off with it.
Reservation and booking amount in my contract is plain and clear and the contract is signed by both parties. I did not give investments house the permition to add the 3 payments I made after signing the contract to the reservation and booking amount. They did it on their own and this is illegal and not binding.

Investors beware. I have done some math and according to the way Investments House want the payments we will end up paying about 70% when they start on the 1st floor and the final payment is about 8% due upon handover .
Now think about this carefully. If they don't have enough money and need 70% to be able to reach to the 1st floor, would 22% be enough to build and finish 27 floors?
Something here is very wrong.
Dubai Banks, good luck when you go to RERA but I don't think they will understand the trick that Investment house pulled on them. And if they say the plan is OK with them it is because they don't care about your money and will not give you a refund when Investments house decides to take off with it.
Reservation and booking amount in my contract is plain and clear and the contract is signed by both parties. I did not give investments house the permition to add the 3 payments I made after signing the contract to the reservation and booking amount. They did it on their own and this is illegal and not binding.

You are right and you should stay firm

Work is progressing here, last night they were pouring the shore wall lining (gunite) But don't get too carried away with the progress, look at AlAreifi marina.

Waiting for IMRE PICS:)...

yes indeed TB , i saw 3 to 4 new continer offices sound like the main contractor in house baby ...

103 meters
http://www.dimensions-ec.com/Projects/eden.html

Still progress on the site? Anyone can post new pics?
Thanks

hi all,
received call from marvin this morning to inform us that progress was being made at eden blue. we expressed our concerns about the vibility of this project and he understood. he has assured us that ths project will be completed as per current schdule and has sent anewsletter.
Has anyone else got this?:nuts:

hi all,
received call from marvin this morning to inform us that progress was being made at eden blue. we expressed our concerns about the vibility of this project and he understood. he has assured us that ths project will be completed as per current schdule and has sent anewsletter.
Has anyone else got this?:nuts:

We haven't received any newsletter - can you post it on here?

Sorry for being ignorant but who's Marvin?

Dubai Banks,
Marvin is replacing temporarily Iqtidar Hussain

Dubai Banks,
Marvin is replacing temporarily Iqtidar Hussain

Really? Wow - Where's Iqtidar going? We was going to meet with him next week in Dubai?

So you will meet Marvin or Mr Sultan (chief of Hussain). Don't forget your camera to take pictures of the site!!!

Hi all,

Images from Thursday 30/10/09 midday. Don't know if this indicates anything, but very quiet - almost no work.

Some work has obviously already been undertaken by Goldline, but I would have thought there would be more workers on site at that time on a working day.

http://http://i153.photobucket.com/albums/s233/umleila/DSCF1091.jpg


http://http://i153.photobucket.com/albums/s233/umleila/DSCF1092.jpg

http://http://i153.photobucket.com/albums/s233/umleila/DSCF1093.jpg

http://http://i153.photobucket.com/albums/s233/umleila/DSCF1094.jpg

http://http://i153.photobucket.com/albums/s233/umleila/DSCF1096.jpg


The final pic shows the full extent of workers on site that day.

BTW Iqtidar Hussein was in the office.

Can't seem to get the pics to display. any tips im using photobucket?

MAZDUBAI,
I don't know how to post the pics but here are the links
http://i153.photobucket.com/albums/s233/umleila/DSCF1091.jpg
http://i153.photobucket.com/albums/s233/umleila/DSCF1092.jpg
http://i153.photobucket.com/albums/s233/umleila/DSCF1094.jpg
http://i153.photobucket.com/albums/s233/umleila/DSCF1096.jpg
http://i153.photobucket.com/albums/s233/umleila/DSCF1093.jpg
Many thanks, very usefull for those who are abroad!!!

That does not look good. And they have the nerve to ask for more payments:ohno:

mazdubai thanks for the phots, they are a great help to us in the uk as we can see some progress,
i think i read on a notice board that no workers were allowed to work between 12 md and 3 pm due to the heat. maybe that explains the lack of work??

merv:)

Sorry to be negative guys. The photos look good but what's changed in the last few months other a new hut and some thing moved around. I don't see anything to indicate "real" work has started.

Investments house's last act was of a big concern. A letter from RERA that does not specify the amount of the 1st period, Asking investors to make more payments even from those who have already paid for the 1st, 2nd, 3rd, and 4th period, shows how desperate they are.
I think & I hope that I am wrong that this project is bankrupt and will be dead soon.

Just received this message from Marvin.

"As per our telephone conversation, please find attached the updated newsletter regarding the construction progress in Eden Blue Tower, Dubai Marina for your information. The main construction work has been ongoing for over a month now and we would like to request all our valued clients to make the payment since the contract has been awarded already to Goldline Contractor. We are aware that as per RERA, you are not suppose to be paying anything but we are requesting everybody to make one more payment in order to avoid further delay in the project. We assure you that your current payment will make all the difference and promise you that you may not have to make an additional payment unless you see significant progress. If you have any further inquiry, please don’t hesitate to contact me on the contact numbers given below.

Hope to hear from you soon."

I like that he says "We are aware as per RERA, you are not supposed to be paying anything..." Its a (very) cold day in Dubai before I pay another penny.

Any other news from you guys? I was actually thinking of trying to sell my unit. I know I will make a loss but even if I could get something, anything out of it, that would be good.

^^

dosnt boost peopls confidence much especially if you have put all you haveinto this project

hope it still goes ahead. very frustrating:ohno::ohno::bash::nuts:

merv

ok Guys here's the thing.
We just got back from visiting Dubai and Investment House where we spoke to Iqtidar. He was very open and honest with us.

We asked about our payment plan and the booking and reservation amount etc.

He broke down what they paid to date, for them to take over from Dujon who had defaulted on the land payments to Rera causing it to be reclaimed. The problem is that Inv house have taken over this project from an incompetent developer and as such have had to take the sh.t that went with it. Land, Advertising and Marketing, Shoring and Piling etc doesn't come cheap and adds up to a large percentage of the overall cost of the tower. The majority of the cost/work is in the basement levels, this we have been told by all 3 developers we are purchasing from, not just Investment House.
Mobilisation doesn't happen overnight hence they told us we are ok to just send one payment to ensure they have enought in the account to pay Goldline for the next couple of months, then we will see improvement on site.

They are commited to build the project but they haven't got the money to pay for the construction unless the investors pay on time. It seems that we are under the impression that everyone has paid at least 50%? This is not the case.

They have agreed to pay Goldline on a monthly basis and all our money will be paid into the escrow account and only used to construct the tower.

Goldline are a reputable company and have built other towers, which we visited on our trip, they look fine. We actually stayed in the Topaz Living courts nr Mall of Emirates which was right next to a tower constructed by Goldline, which is almost finished.

Goldline agreed to start mobilisation without taking the first months payment from Inv house. Inv House have agreed to pay them 3/4million AED per month to build the tower, basically if investors don't meet their payments as they have asked us to in our new payment plans, then they simply don't have enough money in the pot to carry on and construction would stop.
It isn't rocket science, they need money to pay Goldline each month or they cannot carry on.

I think it is about time we all tried to work together to get the tower built and protect our investments, we certainly don't want the project to stop and any of us to lose our money.

The simple fact is, without our payment, they cannot build the tower.
They told us that they cannot build the tower in line with the Rera payment plan as they need money now.

It's up to you guys, but we will be paying our next installment as requested.

There are some investors who bought early, off plan (flippers I believe they call them), who are obviously upset that the market crashed and they couldn't sell quickly and make the profit they anticipated, maybe now they are the ones who are frightening other end users?

Maybe we should all stop being negative and work together to get the bluddy tower built?

We saw 50 plus workers working on site each day we visited the plot.

Inv House also told us that they had recruited a new marketing person who will be responsible for updating the website in the future. This should be set up shortly.

For those of you who want to sell your apt - there seems to be no buyers for apts that are in the early days of construction, not even at off plan prices - although b.homes told us the market is slowly starting to recover but people want ready now properties - so I wish you luck. We also have the same problem here in the UK - I work in construction and a lot of sites are on hold/properties are not selling/builders are not building.

Sorry for being so blunt but no money - no apartment simple as.:ohno:

We did take some pics and will try to load them once we get them off our camera.

Thanks Dubai Banks for the information.

The explanation is logical and I also want to see the tower oneday.
Goldline is an honest construction company which has delivered its construction contracts.
I'll make the requested payment but will see the progress to make the one after.

Thanks dubai banks,

I also believe that all of us have to stop being negative and give a chance to see this tower built.

Scaring people to pay will make us reach no where but some columns in Dubai Marina?

The calculation assumes 60-65% had been paid and the remaining will not be enough to build the tower and will be bankrupt is only assumption. Let us show some responsibility and pay the next payment and will see the deference.

It is up to you, but no one wants to loose his huge paid money.

Hi guys,

Last week i got the same story from Inv. house and i am also sympathetic to the situation. To my mind it is in their interest as much as ours to see the tower built. If people default Inv. House will compensate them slightly and get the apartment back as well. Surely they are in a win win situation if the tower is built. So, I think we need to work on the assumption that Inv, House isn't just here to try to get as much out of us as possible before they do a runner.

Having said that, I am also sympathetic to everyone (including myself) who has already paid over 50% and seen very little for their money. The scaremongering has to stop though. I, like Dubai Banks am willing to give them the benefit of the doubt one last time with this payment, but only on the understanding that no further payments will be made without the basement being near completion.

I hope others will be positive as obviously just a few of us won't even make a dent in the sums they require. Even if Inv. house has mismanaged the money we have given them to date, a hole in the ground doesn't serve anyone's interests.

We all agree that the major hurdle right now is the basement. I'm sure we'll all feel a lot better when we see a floor or two.

Thanks for your support - we too cant afford to lose any money.

However Iqtidar did tell us that if we can send the next installment it is a great help to them, he also told us we do not need to send further payments after this until we are happy that we see significant progress on the basement.

Just in case you haven't noticed, there are more pics on the Eden Blue site for Sept/Oct :)

26/November/2009

Eden Blue

http://i48.tinypic.com/2qanwxz.jpg

http://i50.tinypic.com/10nters.jpg

http://i50.tinypic.com/mtqkyb.jpg

Thanks IMRE!
Based on your knowledge, can we expect to see the start of the main building construction very soon?

My pics were dated 01/11/09 - i'm no construction expert, but seems to be a fair amount of work since then.

What do those of you with expertise in construction time lines think?

few people at site in the last 2 monthes, so i think they could do much more

Anyone visited the site to ascertain the progress of construction and I do not know what future hold for us with regard to our investments in Dubai property sector.

Any one visited Eden Blue site to ascertain the progress of construction and if so, I would appreciate posting the recent photographs taken.

11/December/2009

Eden Blue Tower

http://i46.tinypic.com/azi24l.jpg

http://i49.tinypic.com/2edch1w.jpg

http://i49.tinypic.com/b9896e.jpg

http://i46.tinypic.com/ezr2qh.jpg

11/December/2009

Eden Blue Tower

http://i46.tinypic.com/azi24l.jpg

http://i49.tinypic.com/2edch1w.jpg

http://i49.tinypic.com/b9896e.jpg

http://i46.tinypic.com/ezr2qh.jpg


THANK YOU VERY MUCH FOR POSTING THE PHOTOGRAPHS.

Seems that fondation is completed and now we are waiting for the podium construction? Any news from Investments House? Are there still workers on site?

Seems that fondation is completed and now we are waiting for the podium construction? Any news from Investments House? Are there still workers on site?

WHY THERE ARE NO QUOTES FROM OTHERS. I WOULD LIKE TO KNOW THE

DEVELOPMENTS IN THE CASE OF CONSTRUCTION OF THIS TOWER.

i thinkj everone has lost hope in this place not much progress over the past month. but then again im not in dubai and there may have been some more building work one since the last photos were taken.
merv:ohno::bash:

i thinkj everone has lost hope in this place not much progress over the past month. but then again im not in dubai and there may have been some more building work one since the last photos were taken.
merv:ohno::bash:


Thank you very much for the feedback. Having invested our hard earned
amount on this project, we should not lose hopes or confidence and need
to monitor the developments closely. The ups and downs trend is common
to all the places and unfortunately, we have witnessed the worst in Dubai.
Let us hope that things will be back on the track soon, with the help of UAE
Government . At this time, the Developer will also require some support and
push from investors to move forward the project smoothly. I feel that the
Media has mainly done extensive damage to the property market in Dubai,
which in turn rendered thousands of people jobless and caused further
panic to the investors.

Message from Investments House received today
"This is to inform you that RERA has temporarily frozen the Eden Blue escrow account. This is due to the fact that as per RERA policy offshore company set up abroad other than Dubai is no longer accepted as a developer. Since Dujon Properties is registered in Seychelles, we do not have any other choice but to abide by RERA’s newly elected policy.

This action has left us with no other choice but to put the project on hold temporarily. Currently, we are in the process of registering the off-shore company to register the project. We expect the procedure to be finished within the next few weeks.

Again, we appreciate your unconditional support and will advise you accordingly."

As far as I know it has always been the case that the developer must register in Dubai or have a local partner/sponsor. Clearly this company has been playing brinksmanship with Rera who has had the last say in the matter.

It could be months before the company now completes the registration process and gets Rera to unfreeze the account. Complete contempt for authority IMO.

Can someone in Dubai check with RERA if it is the real story?

We checked with inv house and it is correct that Dujon are having to register in Dubai - we was told it should be done in a few weeks. We are going back to Dubai again in 5 weeks so will call in again to see them. :ohno:

We checked with inv house and it is correct that Dujon are having to register in Dubai - we was told it should be done in a few weeks. We are going back to Dubai again in 5 weeks so will call in again to see them. :ohno:

Thank you for this update. I think Dujon is a Saudi based company who do
not require local partner to start business in Dubai . Now that Investments
House is the whole and sole incharge for this operation, they need to have
a local partner. I hope that they are in the process of complying with the
formalities as required by RERA at breakneck speed and that it will be over
soon to revive the construction.

Am interested in buying a place in Dubai Marina, and have found quite a few places for sale. Digging into a few of them, I have been advised to stay away from Eden Blue. Still, I like the location, the design, etc.. You that are in and know all the details...get in, or stay away? Are the odds actually that great that money invested will be lost, or that you will be asked to pitch in more funds to get it finished? Services once completed will suffer? Those that considered going in and did not yet do so, are you tipping farther towards or away? The Zumurud owners seem ecstatic now that they have gotten their handover letters, but even in that building there are quite a few for sale... Anybody looked at DEC next door to Eden Blue? All tips and winks are welcome! Thanks! Am more than halfway convinced that prices will go further down in the next few months, so am biding my time...

:dunno:

my advice is if you are in no rush to have your appartment in the next 3 years and have money to invest long term yes go ahead if you are looking to make a fast buck stay way clear from investments house as they are the most incompetent shower of idiots, deceivers and liars that i have ever dealt with. Ive a 1 br appart on 7 floor and am in a positio n to stick it out so im ok but just be aware of what has been said in this forum.

I AGREE THAT THIS IS A WONDERFUL LOCATION AND WILL GET BETTER SAY IN 10 TO 15 YEARS WHEN THE ARABIAN CANAL MAY PASS BEHIND OUR LOCATION.

SO ITS YOUR CALL.

MERV

Thanks for your input, Merv! Several others are saying stay away from the Dubai market generally, as they are expecting another plunge in prices before rock bottom is reached and things turn around... time horizon they are saying is three to six months, but that could be adjusted as time goes on..Think I will wait those three months and see how it develops. Am going to follow these threads and Dubizzle closely to see the trends. No, I don't have a get rich quick perspective on this, I live a short 2.5 hour flight away, and want a place for me and my friends to get away to now and again....envy you all who can wander down to the coffee shop and grab a sandwich at the cafe...!! :dunno:

Trying to dig up a map that shows precisely where the Arabian canal is proposed to be built...where does it mouth out near Dubai Marina? Are the canal plans still alive, or have they been shelved? :dunno:

Trying to dig up a map that shows precisely where the Arabian canal is proposed to be built...where does it mouth out near Dubai Marina? Are the canal plans still alive, or have they been shelved? :dunno:

forget the canal, it won't be built for at least 10 years.

my advice is if you are in no rush to have your appartment in the next 3 years and have money to invest long term yes go ahead if you are looking to make a fast buck stay way clear from investments house as they are the most incompetent shower of idiots, deceivers and liars that i have ever dealt with. Ive a 1 br appart on 7 floor and am in a positio n to stick it out so im ok but just be aware of what has been said in this forum.

I AGREE THAT THIS IS A WONDERFUL LOCATION AND WILL GET BETTER SAY IN 10 TO 15 YEARS WHEN THE ARABIAN CANAL MAY PASS BEHIND OUR LOCATION.

SO ITS YOUR CALL.

MERV

I second merv's view, no point considering this investment at least for now

Thanks guys! I do have a long term perspective on this, so ten years is not an unrealistic time horizon for me. I just want to get the most bang for my buck, whether it be to buy now, in three months, in a year, in five years...

Is anyone aware of the actions taken by Investment House to comply with the requirements of RERA to revive the construction soon. A earnest request is being
made to those investors staying in Dubai to pursue this matter closely and post in
the forum with the latest developments.

Still interested in Eden Blue, but so little info out there about what situation is on construction, and also little if any units on the market, it seems....

no progress here.

22/January/2010

Eden Blue Tower

http://i48.tinypic.com/2vmebh1.jpg

http://i50.tinypic.com/2573k34.jpg

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

http://i47.tinypic.com/4qod41.jpg

Still could be tempted by Eden Blue, if a studio with marina view came on the market at a good price. I think that day could come soon....

Still could be tempted by Eden Blue, if a studio with marina view came on the market at a good price. I think that day could come soon....

There is something not right here!

There are plenty of good buys out there for ready now or nearly ready units and you keep harking on about buying in a tower that has barley started with about 2-3 years of work and uncertainty ahead of it.

Are you mad or just trying to hype it?

just out fishing a bit, measuring the temperature...No responses saying 'are you crazy, prices are going up' and none saying 'please buy my studio'.. A studio in DEC towers for 500.000(before bargaining) is possible. Not sure if that is a good deal or not. When you say 'plenty of good buys out there', what is your definition of that? Where do I find them? Am not in country... Thanks for your help!

Any news from investment houses or RERA? Does anyone checked the issue with RERA? If the problem is only a registration issue, it should be already solve now... Does the contract with goldline still valid?

Thanks

We tried to find a phone number for goldline to check what they say but couldn't seem to find one on their website?

Does anyone in Dubai have their number (maybe in a directory?).

We tried to find a phone number for goldline to check what they say but couldn't seem to find one on their website?

Does anyone in Dubai have their number (maybe in a directory?).

I do not know why no one has posted any articles in the forum about this project. It will be appreciated if the members of this project, based in DXB
personally pursue this matter with Investment House and give feedback
in this forum which will be of great help to those wo are staying outside
U.A.E

No posts because there's nothing to say.

Either the whole 'we need to register the company in Dubai' story is true, which means we have to sit and wait or it's a cover story for the fact that nobody is paying, and Inv. House have no money.

Has anyone sought independent varification - From RERA perhaps?

No posts because there's nothing to say.

Either the whole 'we need to register the company in Dubai' story is true, which means we have to sit and wait or it's a cover story for the fact that nobody is paying, and Inv. House have no money.

Has anyone sought independent varification - From RERA perhaps?

You are correct. However, we the Investors have to keep the matter alive by constant follow ups, as otherwise the Investment House will take it to their
full advantage. While in my case, I have paid 54% , they can never expect
further payments from the Investors unless they show some tangible results. thereby gaining their confidence. The people staying in Dubai only can mount
pressure on Investment House for compliance of RERA requirements, if this story is true.

19/February/2010

Eden Blue Tower

http://i46.tinypic.com/2ikbpkg.jpg

http://i48.tinypic.com/m8mbm8.jpg

http://i48.tinypic.com/351gux3.jpg

At the time of stopping the construction, I.H has informed its members that it will take a couple of weeks for them to comply with certain formalities , as required by RERA, after which they will revive the work. While, I do not know whether this statement is correct, it is now couple of months over since they made the above announcement. It will be appreciated if anyone based in Dubai visit I.H personally to check the actual situation and post the feedback in the forum at the earliest.

I checked Tera web site and it does not stare that Eden blue is on hold. Just for information
merv

this is exactly why investors should not pay a cent to developers such as this until 50-60% of frame completed, that way they will have to complete since they have already pored money into the project, I have seen projects with 3-4 floors built and than the developer disappears for 3 years,

Do not pay anything to any developer large or small until 50-60% of frame is completed.

this is exactly why investors should not pay a cent to developers such as this until 50-60% of frame completed, that way they will have to complete since they have already pored money into the project, I have seen projects with 3-4 floors built and than the developer disappears for 3 years,

Do not pay anything to any developer large or small until 50-60% of frame is completed.

I share your views fully on this. When is the construction likely to begin and actually what is the hindrance they are facing? They were simply dictating when the market conditions were good till 2008 for further payments, else
they would apply a penalty . Had the recession not broke out, I am sure that by now they would have got 100% of the payment from the Investors, with construction only upto basement level. We have all blocked our hard earned savings in this ill fated project and hope, realising our plight, I.H. will revive the construction soon.

Is this the rule that is supposed to be affecting Eden Blue?

http://gulfnews.com/business/property/new-rule-for-offshore-firms-1.593498

The discussions with I.H reveals that compliance of new regulations, as required by RERA is being done . This will, however, take little more time and they are quite
positve about recommencement of construction , once this exercise is completed.
We need to have further patience and extend necessary support to I.H in fulfilling
their committments to us.

hey why are you so supportive regarding i h .they havnt even the common cortesy to inform the people they are depending on to complete this project.
get real they are using us and stalling for no reason. dont be hood winked by them unless your poss working for them?^^:ohno:

merv

I am also one of the Investors like you in this ill fated project. At this crucial hour, what else we can do. We need to have some hopes and at the same time push IH
for the earliest completion of the impending formalities, as required by RERA & start
the work soon. There is no other alternative.

this is the last aswer I received from Invest House yestarday

we are putting our best efforts to finish the formalities. I appreciate your sincere patience and support in the same.
We will be informing all our clients once the formalities are completed and we get approval from RERA

any news? why is so difficul for the compnay resole the problem of the off-shore company?

ive sent an email off to marvin and have asked for sit rep regarding eden blue.
i checked rera web site and eden blue is NOT listed as being on hold.
ill post reply if and when i get one.

merv

all listen to this
Dear Mr. Tricia,


Hope this email finds you well.


With regards to Eden Blue, things are still the same. In parallel, we are in

the process of negotiation with a developer to swap our clients in Eden Blue

to a nearly finished project in Dubai. At the moment its bit early to

disclose any detail, however, as soon as the deal is finalized we will

contact yourself and others with the proposal and the details.


this is m reply from i. h. they are swapping usto somewhwere else:nuts:

merv

Not in the marina though! In Tecom. I dont think so thank you.

I think tecom will be a non-starter for most. Any more opinions on swapping? pros/cons?

I would like the option of a full refund of ALL my money
otherwise I can hold off with the marina site.

I feel that whoever has invested in Eden Blue project, it is for the area (Dubai Marina) and we should under no circumstances be ready to accept any alternatives, other than
this locality. We have alrady incurred huge loss by making this incorrect move and cannot sustain any further losses. We should not allow IH to take us for a further ride.

yes me too, we have bought Eden Blue and we want Eden blue !!!!!

Investors of Eden Blue Project:
When IH is making any proposal, please bear in mind that we have opted for Eden Blue project at much hiher cost price and premium rates for the simple reason that it is located in Dubai Marina. If IH is taking a unilateral decision to shift us to other projects
in a locality other than Dubai Marina, we will be at great disadvantage and loss. We have all contributed for the investmemnt made on the Eden Blue site in Marina, plus the valuable amount to facilitate the construction to the extent of 50% which they have failed to do. Therefore, we should all stand united to have fair justice and at the same time not to be deprived of our rights.

This is the bottom line:
-whatever is in the Escrow account is money they cannot have.
-There are contract rules which do not allow them to take unilateral decisions. Do not hesitate to simply ignore the proposition. It is illegal for them to do so and I wouldn't hesitate to join a class lawsuit if necessary.

I'm owning the studio flat in Eden Blue and i have bought it 1 year befor crisis with the premium 100,000 dhs. it is only because of location- Dubai Marina.
I do not want them to make business on our money. what does it means- they are going to purchase Tecom building on our money and then - to sell us with the higher price? What does it mean "swap" to an other project? they will tell as to add on the top ofour contract price 100,000-200,000 dhs more. then they will sell Eden blueto othe Developer again with the premium. Good business for them!!!!!

Let’s unite our strength and let’s do not allow to IH to take advantage of us.
They want to call us one by one- it is some dirty game behind other’s back.
They can easily tell – see other investor’s fully agreed to our swapping proposal – you are in minority.
Good if at least we can resist by supporting each other.

We have already been fooled and cheated by Investment House and under no circumstances should allow them to reap further benefits and advantages at our cost. They have no business whatsoever to move us to any other project except Dubai Marina which is a premium locality. it is high time that those investors on this project
statying in Dubai should stall this move of IH by drawing the attention of RERA immediately. It is still fresh in my mind that IH were simply threatening us for the payment instalments before the due dates, though there was no construction activity at the site. . I have ventured into this project 4 years ago and the huge sum of money blocked on this ill fated project could have fetched handsome returns had I invested elsewhere. The IH simply made huge amounts during the last 3-4 years by way of transfer fee. It is my humble request to all our members once again to stand united and press for our rights. They rode on us enough and let us not allow them to take us for a further ride.

ًاwhen IH was asking for payments because they had a new payment plan approved by RERA and they wanted to cheat us by considering everything we paid as resrevation and booking I warned every one in this forum not to make any payments. Since then I stopped trusting IH and would not give them the benefit of the doubt anymore. I invested in a 1 bedroom unit and paid 50% and the only reason why I invested in this unit was because I was going to get the best marina view from the 27th floor.
For sure any plans the have is to benefit them and not the investors , and we have to be very careful.

We have already been fooled and cheated by Investment House and under no circumstances should allow them to reap further benefits and advantages at our cost. They have no business whatsoever to move us to any other project except Dubai Marina which is a premium locality. it is high time that those investors on this project
statying in Dubai should stall this move of IH by drawing the attention of RERA immediately. It is still fresh in my mind that IH were simply threatening us for the payment instalments before the due dates, though there was no construction activity at the site. . I have ventured into this project 4 years ago and the huge sum of money blocked on this ill fated project could have fetched handsome returns had I invested elsewhere. The IH simply made huge amounts during the last 3-4 years by way of transfer fee. It is my humble request to all our members once again to stand united and press for our rights. They rode on us enough and let us not allow them to take us for a further ride.

I have emailed RERA. They didn't answer but to be credible, quantity should make them react.

I have emailed RERA. They didn't answer but to be credible, quantity should make them react.

--------------------------------------------------------------------------------
I strongly advise to everyone to send your complain about delay of the EDEN BLUE project to RERA on their web site on www.rpdubai.ae

Might be RERA have power and impact on Developer Investment house to stop to make something what is not suitable for us ( without our permission ) and to start construction work on the site.
Pls, do it right now. I have sent already last week, but didn't receive any responce till now. might be we hve to mention more details - our contract #? ,date, escrow,

I’m the investor who purchased studio # 302in Eden Blue project Ms. Y. Monakhova

The contractors disappeared in December 2009. It was explained by The Developer Investment House that due to offshore registration in Seashell islands Investment House cannot pay from ESCROW to the contractor company.
It is mandatory required to register in Dubai.
Mr. Husain ( the project consultant Eden Blue ) told me that it will take 2-3 weeks to register.
Then it passed 4 month and till now there is no any contractors on the site.
I checked on the RERA Website – the project is not cancelled and it has land registration

Contractor :Dujon Properties Ltd
Location :Marsa Dubai
Developer ID: 307
PROJECT NAME : Eden Blue Tower
LOT/ LAND REG. NO. 122
MASTER DEVELOPER -EMAAR PROPERTIES PJSC LOCATION
TRUST ACC. NUMBER: EA0070010010000P
Bank Name: Amlak


Now I have got info that Investment House is preparing the swapping offer for his investors for another projects in TECOM.

But if it will require some additional funds from the EDEN BLUE investors?
They are not ready to add on the top of the price of the contract any extra funds ( It is about me- because I prepared sufficient fund for my contract price only)
And I bought it from the resale with the premium 100,000 Dhs to previous owner.
I do not agree to swap with additional money, I need exactly my studio according to the contract price.

Can you pls clarify what is next scenario of EDEN BLUE project.

it was the letter to RERA

RERA will not reply to the mails . What is more important is that a couple of members from Eden Blue project should meet the concerned person at RERA jointly as this will
have more weightage and effect. What IH think of us ? It is not only the owner, but also everyone employed there should be brought to juistice. They are playing with our money. This matter is of serious concern to all of us. I have ventured into this project in view of high rental income and appreciation in Dubai Marina, which is not the case in other areas of Dubai. We, the members of Eden Blue must take up this issue at higher level to resolve the issue, before it is too late. Unfortunatley, I am not able to make any personal visit to IH in Dubai , as I am working outside UAE. It would be prudent if the members take the print out from all those who have voiced their concern about this project and personally present the same to the concerned person at RERA. The matter is becoming more and more serious and we should put an end to this alarming issue.

I have emailed RERA. They didn't answer but to be credible, quantity should make them react.

--------------------------------------------------------------------------------
I strongly advise to everyone to send your complain about delay of the EDEN BLUE project to RERA on their web site on www.rpdubai.ae

Might be RERA have power and impact on Developer Investment house to stop to make something what is not suitable for us ( without our permission ) and to start construction work on the site.
Pls, do it right now. I have sent already last week, but didn't receive any responce till now. might be we hve to mention more details - our contract #? ,date, escrow,

Thank you very much for providing the website link of RERA. I have also registered the case against IH. An Aappeal is being made to others also to
forward their complaints to RERA at once.

Can any one, please, post a sample letter to RERA? so more Eden Blue investors who might feel to lazy to compose a letter to RERA would be encouraged to write. This way we will have more complaints emailed to RERA. I am one of those lazy investors.

While you will think how to write complain to RERA- IH swap you to an other project in Dubai :wallbash:( see the sample I submit on the RERA website upper)

While you will think how to write complain to RERA- IH swap you to an other project in Dubai :wallbash:( see the sample I submit on the RERA website upper)

The General Manager
RERA
Dubai



Dear Sir,


Re: Eden Blue Tower – Dubai Marina - Unit No.

This is to bring to your kind attention that I had booked an apartment in the above ill fated project , being managed by Investment House. I had chosen to book an apartment in Dubai Marina purely from the location point of view and also the rapid appreciation, compared to other places in Dubai.

Apart from the exoribitant premium paid to purchase the unit through third party, I have also paid approx. 50% to the Investment House during the last 3 years , whereas they have not even constructed ground floor so far. The construction stopped by them last was a couple of months ago on the pretext that they need to comply with certain formalities, as requested by RERA.

Now when I checked with IH, they inform us that there is no change in the situation and that they are planning to swap the clients to other project (TECOM) in other parts of Dubai which is too shocking and not expected of them. Even a layman will not accept such proposal made by IH and what right they have to take such decision against the wishes and interest of their clients and also ignoring the rules & regulations of governing bodies like RERA.

My legal advisor also share my views that IH has no rights whatsoever to take unilateral decision in this regard which is breach of contract. We have already burnt our fingers and do not want to incur any further losses. Also, the Investment House has driven us to such a situation which makes us lose our sleep and peace of mind.

I have, therefore, thought it fit to draw apprise you of the above in the fond hope that you will intervene in the matter and rectify the situation by ordering Investment House to get only the Eden Tower built in Dubai Marina as per the contractual obligations and repeated assurances.

Thanking you in anticipation for your immediate action in the matter.


With warm regards



________________

While you will think how to write complain to RERA- IH swap you to an other project in Dubai :wallbash:( see the sample I submit on the RERA website upper)



The General Manager
RERA
Dubai

Fax No. 0097142215533
URGENT URGENT URGENT
Dear Sir,


Re: Eden Blue Tower – Dubai Marina –Unit No.

This is to bring to your kind attention that I had booked an apartment in the above ill fated project , being managed by Investment House. I had chosen to book an apartment in Dubai Marina purely from the location point of view and also the rapid appreciation, compared to other places in Dubai.

Apart from the exoribitant premium paid to purchase the unit through third party, I have also paid approx. 50% to the Investment House during the last 3 years , whereas they have not even constructed ground floor so far. The construction stopped by them last was a couple of months ago on the pretext that they need to comply with certain formalities, as requested by RERA.

Now when I checked with IH, they inform me that there is no change in the situation and that they are planning to swap the clients to other project (TECOM) in other parts of Dubai which is too shocking and not expected of them. Even a layman will not accept such proposal made by IH and what right they have to take such decision against the wishes and interest of their clients and also ignoring the rules & regulations of governing bodies like RERA.

My legal advisor also share my views that IH has no rights whatsoever to take unilateral decision in this regard which is breach of contract. I have already burnt our fingers and do not want to incur any further losses. Also, the Investment House has driven me to such a situation which makes lose my sleep and peace of mind.

I have, therefore, thought it fit to apprise you of the above in the fond hope that you will intervene in the matter and rectify the situation by ordering Investment House to get only the Eden Tower built in Dubai Marina as per the contractual obligations and repeated assurances.

Hope you will understand my plight and do the needful.

With warm regards

rera call centre phone no. 97142215533

The local residents of Dubai may please call the above number and lodge the complaint verbally also.

The General Manager
RERA
Dubai



Dear Sir,


Re: Eden Blue Tower – Dubai Marina - Unit No.

This is to bring to your kind attention that I had booked an apartment in the above ill fated project , being managed by Investment House. I had chosen to book an apartment in Dubai Marina purely from the location point of view and also the rapid appreciation, compared to other places in Dubai.

Apart from the exoribitant premium paid to purchase the unit through third party, I have also paid approx. 50% to the Investment House during the last 3 years , whereas they have not even constructed ground floor so far. The construction stopped by them last was a couple of months ago on the pretext that they need to comply with certain formalities, as requested by RERA.

Now when I checked with IH, they inform us that there is no change in the situation and that they are planning to swap the clients to other project (TECOM) in other parts of Dubai which is too shocking and not expected of them. Even a layman will not accept such proposal made by IH and what right they have to take such decision against the wishes and interest of their clients and also ignoring the rules & regulations of governing bodies like RERA.

My legal advisor also share my views that IH has no rights whatsoever to take unilateral decision in this regard which is breach of contract. We have already burnt our fingers and do not want to incur any further losses. Also, the Investment House has driven us to such a situation which makes us lose our sleep and peace of mind.

I have, therefore, thought it fit to draw apprise you of the above in the fond hope that you will intervene in the matter and rectify the situation by ordering Investment House to get only the Eden Tower built in Dubai Marina as per the contractual obligations and repeated assurances.

Thanking you in anticipation for your immediate action in the matter.


With warm regards



________________

Thank you so much Jewels Dubai for the sample letter.

Originally Posted by JEWELS DUBAI
The General Manager
RERA
Dubai



Dear Sir,


Re: Eden Blue Tower – Dubai Marina - Unit No.

This is to bring to your kind attention that I had purchased ( not booked - booking -it when you pay only 5-10% from O.P.)an apartment in the above ill fated project , being managed by Investment House. I had chosen to book an apartment in Dubai Marina purely from the location point of view and also the rapid appreciation, compared to other places in Dubai. [/COLOR][/COLOR]

YES MY DEAR,


YOU ARE CORRECT, PLS AMEND ACCORDINGLY AND LODGE YOUR COMPLAINT WITH RERA AGAINST IH. IF YOU ARE STAYING IN DUBAI, IT WOULD BE ADVISABLE TO PERSONALLY GO AND GIVE THE LETTER.


Originally Posted by JEWELS DUBAI
The General Manager
RERA
Dubai



Dear Sir,


Re: Eden Blue Tower – Dubai Marina - Unit No.

This is to bring to your kind attention that I had purchased ( not booked - booking -it when you pay only 5-10% from O.P.)an apartment in the above ill fated project , being managed by Investment House. I had chosen to book an apartment in Dubai Marina purely from the location point of view and also the rapid appreciation, compared to other places in Dubai. [/COLOR][/COLOR]

Today IH answer to my previous e-mails:

"Please note that the registration of Dujan Properties as an offshore company is in process however, it is taking some time due to some unavoidable circumstances which is beyond our control. We will inform all our clients accordingly as soon as it is finalized.

We appreciate your patience on the same."