#PROJECT: CULTURE VILLAGE

[jonny.rotten13]

Originally Posted by Alabri

Would you say "Babil" ?

Yes. That was very tempting with excellent looking buildings in a creek location with rare freeholds available, next to Versace and opera house. Close to airport and other important places. Of so many projects this really was one that should have gone ahead. I was told at that time that Babil sold out so investors were keen on it. Now even expensive Versace is badly affected because of culture village not progressing. What is the truth about what is happening with investors who bought into, for example Babil.

[Alabri]

Originally Posted by jonny.rotten13

Yes. That was very tempting with excellent looking buildings in a creek location with rare freeholds available, next to Versace and opera house. Close to airport and other important places. Of so many projects this really was one that should have gone ahead. I was told at that time that Babil sold out so investors were keen on it. Now even expensive Versace is badly affected because of culture village not progressing. What is the truth about what is happening with investors who bought into, for example Babil.

I am like you, I will know what is happening with investors
But http://www.dubai-properties.ae/en/index.html is in complete abandonment
Last update construction at june 2009!!! see: http://www.dubai-properties.ae/en/Fl...age-Update.pdf

events at oct 2008!!!! see: http://www.dubai-properties.ae/en/Events/Index.html

The only thing we can do for the moment is... waiting and keeping hope that DP is willing finally accelerate the project.

[jonny.rotten13]

In Babil was it just the 10% deposit paid or did DP get the next 20% installment from buyers. Have DP offered refund or any alternatives.

[Alabri]

Less advanced projects are on hold. But Al Malek stressed that none has been cancelled but it is rather about when to bring them back to the market.
"We're reviewing each of them and will have clarity to announce the details next year," he added. The Culture Village, where Damac and Sunland Group have projects, for example, and The Lagoons, Al Malek said are going ahead. Why cancel a beautiful project like The Lagoons, for example, he said.
http://gulfnews.com/business/propert...jects-1.691873

[Number 49]

This link shows a list of completed land transactions during 2010


http://www.dubailand.gov.ae/ld_websi...nsactions.aspx


There have been transactions in the Al Jadaf area totaling AED 1,366,280,150

According to the RERA website, apart from the D1 and Palazzo Versace, all other projects in Al Jadaf are "on hold" so does anyone have an idea to what these transactions relate?

[bizzybonita]

20/April/2011

[Number 49]

What is the status of the Museum of Middle East Modern Art?
Is it still going ahead? Anyone know anything?

[Lightton]

Excellent construction, I imagine this city in 10 years, will be of dreams

[Imre]

What a mess there , almost everything ON HOLD , infrastructure works also stopped..25/February/2012

Culture Village

[Number 49]

Below is a list of all projects in the Al Jadaf area (which is Culture Village) together with their status. All information and data has been taken from the RERA website.


Project Developer RERA Status Last RERA Inspection

NUR Sunland NUR On Hold 03/03/11

Yaas Tower ARRA Ltd On Hold 24/08/10

Nastaran Tower RAAM Ltd PBD 25/12/11

Palazzo Versace Enshaa PBD 27/12/11

D1 Tower Enshaa PBD 27/12/11

Moon Tower Arabia Group Dev On Hold 24/07/11

The Pearl Al Shafar Dev On Hold 01/08/11

Beit Ul Funon Bux Holdings PBD 26/10/09

Lamer Trinity Development On Hold 12/04/10

Cascade Manor DEC PBD 29/11/09

Cascade Ville DEC PBD 29/11/09

Modo Culture DEC PBCD 26/04/09

The Estate DEC PBCD 26/04/09

Yuvi Residence DEC PBD 29/03/10

Dubai Digital Center No report

Santeview Sunwon On Hold 02/12/09

Laleh No report

Niloofar RMG Ltd PBD 30/11/11

Rose Tower HER Ltd On Hold 30/11/11

Banafsheh MRG Ltd On Hold 22/07/10

Shaghayegh GRM Ltd On Hold 15/09/09

Iris Amber Sheth Estate On Hold 09/05/10

Iris Asmar Sheth Estate On Hold 13/05/10

PBD = Progressing But Delayed
PBCD= Progressing But Critically Delayed

DEC = Dheeraj & East Coast

DATA SOURCE: RERA

[Imre]

Culture Village photos, Dubai,UAE

25/February/2012



68 new pics here:

http://www.flickr.com/photos/imresol...7629086463218/

[Number 49]

Imre

Thanks for your time and effort in taking all those photos of the develpments in Culture Village.
It is greatly appreciated.

[Imre]

Welcome!

[Alabri]

Thanks for your time and effort Imre, It's very sad to see this project and what they have done with my money.

[ksengeo]

Is Dubai Properties refunding the money? How do we get our money back?

[sgn7200]

Originally Posted by Imre

Welcome!

Hello Imre ! First I must congratulate you for your excellent contribution to the information base for investors in Dubai real estate. Obviously, it cannot be all the developers who are willingly unable to proceed with the construcion work. It points the finger to statutory authorities for ordering the stoppage for economic reasons e.g. inability to provide roads or water or electricity or other services. Do us a FAVOUR and give us your OPINION as to whether this is likely to stay as it is for a long time to come or it is likely to see re-commencing construction work anytime sooner. Come on Imre!. I hope you won't disappoint us.

[Chakazoolu]

Taken Yesterday

[Number 49]

Dubai Holding announced on Sunday that it has set up a new board of directors for Dubai Properties Group (DPG), its real estate arm.

The newly appointed board will constitute three independent non-executive directors and two executive directors.

The Board will be responsible for setting long-term business strategy, overseeing implementation, ensuring adequacy of internal controls and strategic risk management, Dubai Holding said in a statement.

"This governance model has been developed after extensive benchmarking against international and local best practices within the local regulatory framework," it added.

http://www.arabianbusiness.com/new-b...up-461542.html



Interesting comment:


Dubai Properties Group (DPG) should fulfill their short term obligations before they worry about their long term strategy.
There are several developments in Dubai (for example Culture Village and Dubailand) that have stalled and/or are on hold because DPG have failed to provide the necessary power (DEWA).
I suggest DPG sort out their priorities before even more people start legal action.

[Sheela]

Many thanks to everyone who has been contributing to this forum. Special thanks to Imre for posting the pictures. This is my first post. I too have invested in Yuvi Residence and have not heard a word from Dheeraj East Coast except sometimes sending reminders about payments. Yesterday I visited the site and its sad to see how our all our money has ended. I am unable to get any information from Dheeraj if this project is stalled or cancelled. I would sincerely appreciate if anyone could post an update on this project. Many thanks.

[jonny.rotten13]

Originally Posted by Chakazoolu

Taken Yesterday

What a prime location and what a waste !
I was a split second away from buying a 2 bed at babel and thought to visit the site.
Thanks to the take it or leave it attitude of dubai properties !
They need to be taken over not re-structured