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Jumeirah Lakes Towers 79 Towers in a masterplanned community by Nakheel



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Old January 27th, 2016, 10:06 PM   #681
Stalker01
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Quote:
Originally Posted by ashram8 View Post
Unfortunately i see the only way for us to survive in this project is to accept the new terms. We all have already paid 85% by now plus the 4% to RERA. That makes it almost 89%. Thinking that we have the capacity to get together and and continue this project on our own is just impossible. ACI is not even in the formula any more. it is just history. anyway, till we get an official letter from Preatoni, we all have to sit and wait.
Impossible? It is impossible to sit and wait!
Who the Preatoni is? It is nothing. Take a look at official site of RERA and help me to spot the name. Who promised to complet this project by the end of last year. And what have we had? Just... Be informed you all must pay more and more… Where is the end? OK, sit and wait new the message.. “be informed”. Is this all that you are suggesting?
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Old February 27th, 2016, 09:41 PM   #682
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Old March 8th, 2016, 05:22 PM   #683
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there is nothing we can do. I agree with Ashram. I paid 90% so far and while I am extremely angry, I don't see any solution but to pay Petroni and have them finish this mess.
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Old March 26th, 2016, 07:53 PM   #684
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Zero activity on site, hope it restarts soon.
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Old April 8th, 2016, 09:51 AM   #685
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Hi everyone , i am new to the forum . Just had word from Preatoni that 26th floor apartments are non existent and that all those on this floor would loose all their money.
Who else is on the 26th floor ?
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Old April 8th, 2016, 07:08 PM   #686
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that is legally impossible. what do they mean your money is lost. Besides that practically up to this point we have all lost our money. But if things ever move like they say now, then there is nothing that could say that your money is lost because they cancelled floor 26. you had better take this to DLD if the project ever starts again.
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Old April 9th, 2016, 08:46 AM   #687
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I agree with you , they claim they nor DLD knew that the 26th exist , though ACI have plans showing apartments on the 26 th floor , Preatoni cannot claim that they did not know , how do you invest in a project without a due diligence ? Seems as though they trying force investors to opt out and they would resell and make bigger profits . I have written to DLD and await their response . I googled Preatoni and there are articles about the chairman which is not comforting.
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Old May 4th, 2016, 03:03 PM   #688
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There was acidity there between the 28th April and 2nd of May when I was at Icon 1
Workers being bussed home at 17.30hrs on all days apart from the Friday 29th.
Regards
Eck
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Old May 29th, 2016, 11:38 PM   #689
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Dubai Star last week.













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Old May 30th, 2016, 09:53 PM   #690
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What about the 90 dhper sqft mandatory that we have to pay to developer
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Old May 30th, 2016, 10:12 PM   #691
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Greeting from Preatoni Real Estate Development LLC;

First, we would like to thank you for the constant support we have received from you, since we took over Dubai Star project (Project”).

Only With your trust and support along with our substantial investment, we were able to reach this important millstone and to move our project from (37%) completion to reach 75, as per current RERA website.

We are glad to inform you that the Project construction work is making good progress and in line with the schedule of construction agreed with the contractor and we aim to complete the Project by 31st December 2016.

However, as you are well aware that we are managing the development of this project through Tanmia which is an initiative by Dubai Land Department (DLD) as the former developer Alternative Capital Investment GNBH (ACI) failed to construct the Project.

Unfortunately and during our work in this Project we have faced many major problems and difficulties which were not expected and we discovered major problems which were not disclosed by ACI and caused severe financial loses to us. We would like to assure you that Preatoni Real Estate Development LLC are very determined to complete this Project and make it a success story and we seek your continuous support to achieve our target and complete the Project by 31st December 2016.

We would like to thank DLD and especially Tanmia team for their support and cooperation in assisting us to overcome the problems we are facing in this Project.



For the sake of fulfilling our commitment to complete the Project, and since this Project is listed under Tanmia initiative, we sought the assistance of DLD to help us in reducing our loses in order to complete the Project and after DLD`s review of the project`s financial records in order to cover the financial deficit in the Project and assure the completion of the Project on 31st of December 2016, it was agreed that the administration fee, of 90AED per Sq.ft, has to be paid by all the investors to the Project Escrow account and 50% of the fee to be paid within 60 days of resuming the works on site- please find attached DLD letter for your reference.

In light of the above, you are kindly requested to pay the due amount pursuant to DLD letter without any delay and we reserve our right to report any defaulter to DLD and take all the necessary actions against defaulters.
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Old June 2nd, 2016, 02:19 PM   #692
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Quote:
Originally Posted by saadanas View Post
What about the 90 dhper sqft mandatory that we have to pay to developer
Hello!
Somebody paid administrative fee to Preatoni?
What are your thoughts on this?
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Old June 4th, 2016, 08:30 AM   #693
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not yet. i was hoping that at least this admin fee would be postponed till the project is handed over. but for us to be asked to pay now when the project has been postponed over and over for 7 years is quite difficult. But seems we are out of options.
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Old July 7th, 2016, 11:59 AM   #694
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Old July 9th, 2016, 08:50 AM   #695
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wanted to check with you all, anyone who has taken a home loan for Dubai star from FGB. if yes, let me know.
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Old July 12th, 2016, 10:31 AM   #696
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can someone confirm on making any payments towards this 90 dhs per sq ft????

my unit is on 42 floor, 78% paid up.
last time my mom went to their office (she was told that Preatoni started to cancel units for those who have not paid 50% and above.
and we are warned to make payments otherwise we are gonna get canceled soon as well. WE HAVE paid 4% though last summer...

do they have real rights to cancel my unit even though i've paid 78% ???
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Old July 12th, 2016, 07:46 PM   #697
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I have paid up first half of this fee. I look at it this way that we have invested almost a million dirhams by now.Paying up additional 200G will materialize all our investment so far,otherwise we stand to loose all the investment if the project is stalled for good.At least there is real hope now that it will be completed. Unfortunately there are no clear cut policies and if we decide not to pay the said amount then we have to take the legal route and i know that is a very lengthy process with a lot of further financial loses and no guarantees
of a favorable outcome and for sure the building will not be completed. I strongly feel we have no other choice but to pay up and hope the project is completed by this year end
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Old July 12th, 2016, 09:24 PM   #698
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Hi

We have paid all payment as per schedule including the 45AED p/sqft. Surely things are progressing here. The construction has commenced and Pretoni are sending regular email updates. The last one they indicated completion November/ December 2016! Does anyone live in Dubai who can visit site and advise how many people are working estimate, pictures etc. Thanks.
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Old July 13th, 2016, 09:58 AM   #699
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Hello, I have paid 45AED p/sqft too
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Old July 15th, 2016, 12:12 AM   #700
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The empty space between the two towers ?
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