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Never Built Projects once planned for construction but never built.



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Old June 10th, 2014, 01:19 PM   #401
rallyman
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no new developer, define was the original developer and this is the original board , i have no idea who put it back up it was laying on the floor for many years.... they no longer exist. nothing happening i visited 2 weeks back.
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Old June 8th, 2015, 08:52 AM   #402
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So apparently this company, IAH (iah.co.ae), is working on reviving the project. They don't have full approvals yet but feel they are close.
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Old June 8th, 2015, 03:20 PM   #403
firoz bharmal
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NIKI LAUDA TWIN TOWERS......Name itself is disgusting......frankly in our language LAUDA means Penus...........now u understand why its on hold...!
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Old July 11th, 2015, 01:00 PM   #404
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Any further news of company, IAH (iah.co.ae) reviving the project?
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Old April 18th, 2016, 01:11 PM   #405
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After months of trying, last week I was finally connected to someone in the Trust section of the Land Department who told me that DLD has cancelled this project but is not sending it to Dubai Courts for liquidation as they feel they have interest from other developers to revive the project which is their preferred option (in the past they had named IAH as willing to take over the project).

The reason why this option has not moved forward though, as they tell me, is that the Master Developer will not provide the required NOC because of outstanding disputes with the original developer. He said the matter has been under negotiation between DLD and the Master Developer but no progress so far.
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Old April 22nd, 2016, 02:18 PM   #406
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Well both the original developers of the Niki Lauda Tower, Business Bay project Define Properties & ACI are long gone....... so the Master Developer of Business Bay (Dubai Properties Group) would be well advised to acknowledge that fact and work in tandem with DLD to encourage a credible developer to complete the project.
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Old April 22nd, 2016, 07:49 PM   #407
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I also heard from a credible source within IAH that they will be re-launching this project after Park Lane and Tamani Arts units are handed over.
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Old April 22nd, 2016, 09:28 PM   #408
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Any idea on the timing for handover of Park Lane & Tamani Arts units handover and how we can verify this information to be correct from an official source?
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Old April 24th, 2016, 09:57 AM   #409
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Agreed @camac but who has influence at Dubai Properties to get them to agree to give the NOC?

My last information from both Land Department and IAH is that the NOC has not been given and so even if IAH is ready to move forward they can't. I don't know what's true or not but if we do get to that stage where the project is revived we all have to be careful about how they plan to treat our investments. In the past many developers who looked to revive projects would place inflated prices on the units asking investors to pay over-market in order to bring back to life the money they've already sunk. Nobody should accept that.
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