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Old April 13th, 2011, 05:28 PM   #61
SGrCRAP
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Late Delivery Penalties

Torch Folk,

You need to really watch Select Group around handover.... they will be in a tearing hurry to deliver this building as the late delivery penalties/goodwill payments will be phased depending on when you signed the SPA. So more units will become liable for a credit as time ticks by.

Essentially SG will go into hyper drive to knock the place out and this will involve short cuts galore. They miraculously managed to get our fire alarm system passed as acceptable when in actual fact it didn't work. We had a fire in the garbage room and the upper floors filled with smoke - the smoke detectors didn't work and when the occupants broke the wall mounted boxes the main bells didn't trigger!!!!!! The concierge had to manually trigger the main alarm and the security boys put the fire out. We've been told the owners will have to pay for the remedial work required to bring it up to standard! You couldn't make it up.....

Coupled with basic safety keep an eye on the common areas particularly plumbing around your pool and in the basement.

The key problem is your SPA will state that any disputes over snagging will be decided by the project architect - if it's the same clown they used on the point he's the furthest thing from independent you can get. Brown envelopes I suspect.

Select appear to be rolling these places out using the same cookie cutter stitch up model - they haven't learnt anything but I guess they think there's not much owners can do.

Something noteworthy......certain Russian owners have reportedly sent 'persuasive gentlemen' into various developer's offices when they don't get what they consider to be fair value. Miraculously full refunds have been issued! I hope Select don't have too many Russian clients!
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Old April 13th, 2011, 05:36 PM   #62
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Launch pad for the next NASA mission!
great....hehe dubai space station, and Dubai World Central Airport the landing base
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Old April 13th, 2011, 05:49 PM   #63
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Quote:
Originally Posted by Rider View Post
Have any SPP investors received anything yet?

A final statement should be issued showing the final 10% due plus the service charges. Wonder if the goodwill payments will be the same for LPP and SPP investors.

I imagine an IOA can't be formed until all apartments are handed over.
I am on SPP and just received my e mail notification. Goodwill is 7,645.69AED for a 2 bed. What would the LPP get for a 2 bed.
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Old April 13th, 2011, 05:52 PM   #64
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Jeez, I hope someone called the police - what a complete shambles... How did it get past Civil Defence???!?

Quote:
Originally Posted by SGrCRAP View Post
Torch Folk,

You need to really watch Select Group around handover.... they will be in a tearing hurry to deliver this building as the late delivery penalties/goodwill payments will be phased depending on when you signed the SPA. So more units will become liable for a credit as time ticks by.

Essentially SG will go into hyper drive to knock the place out and this will involve short cuts galore. They miraculously managed to get our fire alarm system passed as acceptable when in actual fact it didn't work. We had a fire in the garbage room and the upper floors filled with smoke - the smoke detectors didn't work and when the occupants broke the wall mounted boxes the main bells didn't trigger!!!!!! The concierge had to manually trigger the main alarm and the security boys put the fire out. We've been told the owners will have to pay for the remedial work required to bring it up to standard! You couldn't make it up.....

Coupled with basic safety keep an eye on the common areas particularly plumbing around your pool and in the basement.

The key problem is your SPA will state that any disputes over snagging will be decided by the project architect - if it's the same clown they used on the point he's the furthest thing from independent you can get. Brown envelopes I suspect.

Select appear to be rolling these places out using the same cookie cutter stitch up model - they haven't learnt anything but I guess they think there's not much owners can do.

Something noteworthy......certain Russian owners have reportedly sent 'persuasive gentlemen' into various developer's offices when they don't get what they consider to be fair value. Miraculously full refunds have been issued! I hope Select don't have too many Russian clients!
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Old April 13th, 2011, 06:03 PM   #65
RedWayne28thfloor
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Quote:
Originally Posted by scoobudubai View Post
If one is on the LPP and decides to sell now, I calculate that there will be a loss of 30 percent on all monies paid to date, based on the pre-pay balance due to select. Also based on the value of the apt being the same as it was 5 years ago.

Is this correct? or is there some other way to effectively have all monies paid to date returned?
Is there a refund clause in the torch SPA's?
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Old April 13th, 2011, 06:03 PM   #66
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Quote:
Originally Posted by Sheltie View Post
I am on SPP and just received my e mail notification. Goodwill is 7,645.69AED for a 2 bed. What would the LPP get for a 2 bed.
approx £1100/€1200. not great
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Old April 13th, 2011, 06:04 PM   #67
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The SELECT thread...

Quote:
Originally Posted by RedWayne28thfloor View Post
Is there a refund clause in the torch SPA's?
Yes but it can not be used due to force majeure.
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Old April 13th, 2011, 06:13 PM   #68
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Any chance someone can scan and post a copy of the addendum? I am working away for a few days!
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Old April 13th, 2011, 06:19 PM   #69
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I am on LPP and not recieved any goodwill payment
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Old April 13th, 2011, 06:20 PM   #70
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Quote:
Originally Posted by Dubai_Steve View Post
Yes but it can not be used due to force majeure.
Our Bay Central SPA is different we can get our money back even if there is FM.. thats why they will rush too finish BC and they let Torch people wait as they couldnt do nothing
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Old April 13th, 2011, 07:34 PM   #71
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Quote:
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I am on LPP and not recieved any goodwill payment
goodwill to all men or just those who made their LPP payments on time?
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Old April 13th, 2011, 07:59 PM   #72
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Quote:
Originally Posted by Dubai_Steve View Post
goodwill to all men or just those who made their LPP payments on time?
Every payment was made on time but still no goodwill payment.Can anyone offer an explanation
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Old April 13th, 2011, 08:14 PM   #73
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Quote:
Originally Posted by Dubai_Steve View Post
I thought chiller charges are paid by the tenant?

Time place charges are 13dhs sq ft does that include chiller charges?
yes it does Steve its all in, ,maintenance and chiller fees
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Old April 13th, 2011, 08:18 PM   #74
RedWayne28thfloor
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Quote:
Originally Posted by Beppe786 View Post
Our Bay Central SPA is different we can get our money back even if there is FM.. thats why they will rush too finish BC and they let Torch people wait as they couldnt do nothing
Yes but just as well the lawyers are checking all the small print well in advance of handover so we don't have many nasty surprises
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Old April 13th, 2011, 10:12 PM   #75
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not had any notification yet- on floor 23 2bed on spp !
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Old April 13th, 2011, 11:49 PM   #76
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Quote:
Originally Posted by propertymagnet View Post
yes it does Steve its all in, ,maintenance and chiller fees
Hmmm so Torch is 20.2 sq ft compared with 13 sq ft for Timeplace. Looks like Select are ripping us off already.
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Old April 13th, 2011, 11:57 PM   #77
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At Goldcrest Views in JLT we are now paying only 6 dhs a sq ft, for this first six months of the year, and we have a roof top swimming pool, 6 lifts, security , saunas, steam baths and a gym.....
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Old April 14th, 2011, 12:08 AM   #78
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Quote:
Originally Posted by mackie1964 View Post
Any chance someone can scan and post a copy of the addendum? I am working away for a few days!
[IMG]http://i53.************/ohsdpw.jpg[/IMG]
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Old April 14th, 2011, 07:04 AM   #79
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When the apartments are handed over, they will be without power and water (they will be disconnected on 1st May). Bit of a nuisance as will not be possible to test things during the handover and will be uncomfortably hot without air con. My main question is (assuming one is organised), how long does it take to get connected? So is it possible to have handover in the am and be connected by the end of the day?
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Old April 14th, 2011, 08:42 AM   #80
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How can Select be removed if most owners are on LPP and are effectively being asked to sign away their voting rights for the next 9 years?

Also, are the service charges based on the sq feet as documented in the SPA or have they measured all the apartments on completion? The reason I ask is because I believe there is an issue with some of the 3 beds and it may be worth verifying the actual size of the apartments.
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