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Northern Emirates Projects in Ras al-Khaimah, Umm al-Quwain, and Fujairah



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Old December 24th, 2011, 05:46 PM   #1441
SayNoToRAK
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Merry Christmas to all Blu Mirage investors and may 2012 bring a successful resolution to this development.
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Old December 28th, 2011, 12:52 AM   #1442
sandbagger
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Hi All ,
Beer51 I have also sent you a PM to join the group, thanks for the heads up MickeyD.

Best of luck to all of us in 2012!
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Old December 28th, 2011, 03:12 PM   #1443
beer51
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Hi All

Any new investors wishing to join the Blu Mirage Legal Team pls email Peggy Newton on BMRAKLEGAL@gmail.com. Pls note you have until 31st January 2012 to join. This is a direct communication from Peggy.

Kind regards
beer
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Old January 3rd, 2012, 11:34 AM   #1444
rkbk
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Here is email we got today:

In reference to your recent communication, we write to update you in respect to the Blu Mirage development.
*
As with most construction and development in the UAE, construction activities at Blu Mirage site have slowed down over the past few months. This is primarily due to the number of purchaser defaults in the development.*
*
In order to fund the substantial difference and keep the project moving forward, Pure Real Estate Consultancy FZE is working on an alternative construction finance solution.*As soon as we receive final confirmation of the same, we will again write to you with an update and more details.
*
We thank you for your continuous support of the Blu Mirage development.*Pure is committed to deliver the Blu Mirage project, and will continue to despite ongoing and lingering tough market conditions.
*
*
Sincerely yours,
*
*
Pure Real Estate Consultancy FZE
*
Suite 903 Sheikh Essa Tower
Sheikh Zayed Road
P.O. Box 24459
Dubai
United Arab Emirates
Tel: 009714-327-6601
Fax: 009714-3276602
Email: info@purefze.com
*
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Old January 4th, 2012, 03:07 PM   #1445
KarenA
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Legal group

Hi

I have paid 70% of the overall development and have not had a response, so thanks for posting the email address for the legal group, I will email this now to join as I am based in London and not received anything since September.

Thanks

Karen
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Old January 13th, 2012, 01:09 AM   #1446
makka123
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Hi,
I have emailed my details to beer51 email address given but no reply, please kindly join me to the action/legal group my email abumuqbil@hotmail.com

thanks
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Old January 13th, 2012, 10:56 AM   #1447
flexton
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Info for ideas:

To Polonsky offer 1 euro for project Astra Montenegro in Montenegro Buyers of apartments in apart-hotel Astra Montenegro in Montenegro in which building Sergey Polonsky's corporation Mirax Group is engaged, offer for the project 1 euro, RBC newspaper daily writes on Wednesday. Project Astra Montenegro started in 2007. Then Polonsky promised to construct a city-club on Blockage cape between the cities of Budva and Bechichi. To realise the project it was planned in two turns. On a site in 4,4 hectares the developer has decided to construct 36 country houses on 200 apartments a total area of 39 thousand square metres, and on a site in 5 hectares - high-rise tower Astra with kondo-hotel of 520 apartments and hotel on 140 numbers. Investments into the project were estimated in 1,5 billion dollars. To finish it it was planned in 2010-2011. Today the project first stage is partially realised: 36 country houses have brought under a roof. According to the source editions in Mirax Group, it is necessary to glaze facades, to make internal furnish of apartments and to complete an infrastructure, and according to the Montenegro press, the project has been frozen last summer. In sales department Astra Montenegro to the newspaper have informed that today first stage civil work are not conducted, as the financing question is solved. "From 200 apartments in the market remains 100 area of 90-200 square metres and in cost of 5-8 thousand euro for 1 square metre", - are given in a material of a word of representatives of the company. And as has told to the edition a source in Mirax Group, building of the second turn and did not begin, this part of the project "is in doubt". So, in July project Astra Montenegro left Vyacheslav Lejbman who was Polonsky's partner in Montenegro and held a post of operating partner Mirax Group." Uncertainty with project Astra Montenegro has compelled the government of Montenegro to put forward to Polonsky the ultimatum. The Russian adviser familiar with a course of the project, asserts that local authorities promised to take down already erected objects if the developer does not renew building of the second part of a complex ", - is told in a material. According to the newspaper, buyers of apartments Mirax are ready to complete independently the complex first stage is a group of 96 investors. Thus, according to the local press, clients have received the consent of the developer to redeem at it the project for 1 euro. The edition tells that shareholders have created the company with headquarters in Budve and have got support of the Montenegro authorities and Polonsky's creditors - the Russian Alpha bank and Austrian Hypo Alpa Adria Bank. In 2009 Lejbman in the interview to the newspaper informed that Hypo Alpa Adria Bank has given to the builder as whom company Zavala Invest, the demand line of credit at a rate of 20 million euro formally acts. Polonsky's competitors in Montenegro have noticed that in pledge banks have an earth under the project. "To announce results of negotiations the developer promises within a month. About an exit from the project in Mirax Group officially do not speak. Nevertheless Astra Montenegro has not been presented on a card of the international projects in October presentation of corporation for holders of bonds", - it is underlined in a material. Investments demanded on completion Astra Montenegro in Mirax Group do not open. As told earlier Lejbman, by April, 2009 the developer invested in the project of 108 million euro, and for end of first stage Astra Montenegro it was required about 60 million euro, the newspaper concludes.
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Old January 16th, 2012, 03:38 PM   #1448
beer51
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Hi makka123

You need to email Peggy Newton on BMRAKLEGAL@gmail.com (this is not my email address hence no reply from me) before 31st January 2012 if you want to join the legal team. Peggy will collect all the inform from all the new investors who want to join the legal team and get in touch with you.
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Old January 17th, 2012, 06:19 PM   #1449
makka123
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that's what I did.

Quote:
Originally Posted by beer51 View Post
Hi makka123

You need to email Peggy Newton on BMRAKLEGAL@gmail.com (this is not my email address hence no reply from me) before 31st January 2012 if you want to join the legal team. Peggy will collect all the inform from all the new investors who want to join the legal team and get in touch with you.
hi, that's what I did email BMRAKLEGAL@gmail.com. but I'll try again

thanks
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Old January 18th, 2012, 06:00 PM   #1450
beer51
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Makka123

Peggy will respond once she has collected all the people who wish to join the legal team. She will reply after the dead line which is 31st Jan 2012.
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Old February 1st, 2012, 11:22 PM   #1451
SayNoToRAK
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6 months of silence

It is now six months since any updates posted by the developer. A total disgrace.

www.almarjanislandrak.com
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Old February 2nd, 2012, 11:28 AM   #1452
I Know
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nothing is going on there mate, so you may be in for a long wait
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Old February 2nd, 2012, 03:31 PM   #1453
SayNoToRAK
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Quote:
Originally Posted by I Know
nothing is going on there mate, so you may be in for a long wait
I Know I Know!!
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Old February 2nd, 2012, 03:59 PM   #1454
I Know
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When you turn of at the junction to cut through RAKIA heading towards the coast and al hamra village there was a lorry that shed its load of glass on the round about, it was about 6 months ago and its still not been cleaned up, just moved to the side.

So what chance do you think the place has in general, just pipe dreams
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Old February 19th, 2012, 10:19 AM   #1455
bandulawk
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Dear Friends,

I am also a invester in this blue mirrage project in RAK. I have paid 70% till date. Though they had appointed the Contractor, now there seems to be no progress.

Can I also know how can I join your group/legal team.

regards,

The project
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Old February 20th, 2012, 02:03 PM   #1456
beer51
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The cut off date for joining the legal team was 31st January 2012. You can try and email peggy on BMRAKLEGAL@gmail.com requesting to join the legal group.
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Old March 6th, 2012, 10:34 AM   #1457
SayNoToRAK
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16th April 2012

Date when "Force Majeure" period expires.

www.almarjanislandrak.com
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Old March 21st, 2012, 12:26 PM   #1458
rkbk
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What is the latest now? i have not heard anything and i have given peggy newton my email too
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Old March 22nd, 2012, 04:01 PM   #1459
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I think RAKIA soon will arrive to London on an exhibition of real estate for advertising of investment possibilities emirate.

We can ask questions
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Old March 23rd, 2012, 09:24 AM   #1460
doomsdayarmy
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You might find this interesting http://blog.sfgate.com/sportsevents/...e-park/#3992-4 If this thing doesn't kick start RAK and Al Marjan, I don't know what will. This is certainly good news if it ever materializes.

Last edited by doomsdayarmy; March 23rd, 2012 at 06:22 PM.
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