Dubai Sports City, the master-planned sports metropolis located in Dubailand, is launching Canal Residence West, an exclusive upmarket residential complex modelled on the luxury apartment clusters on the French Riviera. A sales exhibition highlighting the project is being organized in association with Gowealthy.com, the leading Dubai-based, real estate portal and marketing consultant, at Dubai International Convention Centre from May 9 to 10.
Situated on the promenade, mid-way between the northern and southern retail hubs of downtown district in Dubai Sports City, Canal Residence West comprises five beautifully laid out residential towers with distinct facades, which offer the latest trends in contemporary living. Aiming to replicate the glamour and elegance, unique to the French Riveira, Canal Residence West features opulent freehold apartments, a waterfront promenade with cafes, restaurants, boutiques, convenience stores, private clubs, gyms and beauty salons.
Dubai Sports City is offering an attractive payment scheme with only 5% down payment that is subject to terms and conditions. Reputed home financier Tamweel is financing the freehold properties within the project.
I know hsbc do it but you need to be a premier customer. From memory u need to have 200k usd cash or 500k loan with them. You can find this info on their website.
have you thought about paying a real estate / property company in Dubai to do all of the handover? approx. 2500 aed and they handle all of the rera / emicool / dewa / snagging / paper work / govt departments / money transfers etc for you? just a thought...you need to get a POA or similar attested and then they can do it all for you including money transfers and collection of receipts etc.
They(fine & country) told me I had to pay 4% on sale and 4% to the land reg which I already paid(2%)
Just be careful ,just because they are in the Crw building ?
Tanja at fine and country seems very straight and trustworthy to me so far. Met her a few months ago when i was looking to rent in the marina. In uk at mo and its a lot cheaper than flying out to do it imho. Doing a poa now so they can act on my behalf. I dont want to be stood in govt queues for hours and days relying on locals or amir khan types.......anyway tanja seems good to me.
Ha, 8 years isnt a quick buck. Not being in dubs at the mo i consider having someone on the ground to do the handover and admin to be pretty useful. Snagging could take a long time and theres loads of admin to do. Dewa etc has got quicker, much quicker and if you know better than me then fair enough. It aint over til its over.....
We are using the opportunity to have a 10 day break in Dubai and do the handover at the same time because I want to see what we have waited 8 years for.
In addition, my day time job is a structural engineer working on fairly major UK projects. As such, I want to make sure that the apartments are snagged correctly and the finishes are to a standard that I expect.
However, i am impatient and the thought of wasting 2 or 3 days queuing to see various government bodies brings me out in a cold sweat. So I may contact this organization to do the necessary paperwork and I'll do the snagging.
But apart from the 8 year wait, what really bugs me is the short notice we have been given to complete the purchase and register. We have the money, but it isn't in the right place at the right time. As such I am having to pay additional fees to quickly move this money into my account so that I can pay for the apartments. On top of that, we seem to have a falling pound vs DEA which isn't helping the matter.
However, to finish on a positive note, we are going to have a cracking break and at last see and take over our completed apartments.
Totally understand wanting to be inside the apt after all this time, we plan to do the same once it is handed over, snagging finished and all other admin done. I suspect it might take a bit longer for them to carry out the snagging after they receive the report and if youre a structural eng then obviouslg youre better doing it yourself. I would love to hear your observations on that matter! We will use f&c's contracted snagger as they will act as a one stop shop for everything for us inc transfer of all funds to the 8 ot so accounts monies need to go to inc cash payments, cheques and the different accounts that dsc use for the payments like 10%, 4%, oqood, service deposits and fees, dewa, emicool and then thers all the different forms that need to be taken to other parts of dubai to compete parts of the process etc. I think dewa is a lot quicker than it used to be, around 24 hours, but youve still got to take receipts etc to dsc etc and get deeds etc. Will be interesting to see how long the snagging fulfillment takes as it wont be over until way past receipt of keys and after weve got to start paying for service, emicool and dewa...will also be interesting to see how much our bills for dewa ans emicool are despite minimal usage whilst it is empty....and then theres the selling or renting...but thats a way off yet and not worth worrying about just yet....yay!! Anyway good luck with the trip, enjoy the 50 degrees and please let us know how you get along with snagging and the general state of the apartment and building. Hope you find good things buddy.
And yes, the gbp is sliding but were getting about 5.56 approx but again its sliding. Were planning to all transfers in 1 so to avoid repeat charges, had to set up a poa so to protect the money and it takes days to do so not transferred yet. As for the 'immediate' nature of the funds required, they always do the same. Theyre years late and then used to send threatening letters saying if it wasnt paid within 1 week they would reposess it! Mr aamir isnt allowed within 100 ft of me or i have promised to beat him...bashant is much easier to deal with. Ha, anyway...let us know if the pool is working and also the state of the fabled floor of health and gym facilities that the venetian is supposed to have...and also the size of the apt as i hear that they are smaller than what was on the plan. Nice that were almost fhere tho!
My apartment is 60sft smaller than what was promised. Ive read the purchase agreement and it says that they only credit you the difference if its more than 5% difference. Since ive lost almost 3% of my floor space it doesn't seem to matter to anyone apart from myself.
You should therefore get a reduced monthly service fee as the official size of the apt has to be calculated by rera and then the charge calculated accordingly i think?
Considering i bought in 2008 at 1200dhs per sft for a 2 bedroom apartment, you think i should be happy paying a few hundred dirham less a year? Really??
1 bed reduced by this amount,makes a big difference!
so looks like DSC had the contractor (builder) in and said how much saving do we make by reducing the overall build by 3-4 percentage,all more profit for them!!
So you invested in Venetian building (say 2006/7) for completion early 2009.
DSC,we are sorry to tell (despite the building being sold out!) you,.... you're building will be delayed by an additional seven years after original early 2009 completion estimates.. and we have decided to save even more funds by building your apartment 3-4% smaller than stated...also we will not be completing the roof design as per the plan....oh also the interior will not be a five star fit out as described in the original literature,instead a decent three star finish !
And now when it comes to paying all these additional charges ,trust these people
Oh by the way i,m out!, but still here !
After all, we are all here because we like Buildings and there design Right ??
This may be a side question from the main topics here, for those of you who have had handovers, are your developers running the buildings as "furnished 5-star hotel-apartments" (with 1-month a year owner occupancy & 40%-60% split in profits) or are you planning to rent them out privately, as unfurnished private rentals?
This may be a side question from the main topics here, for those of you who have had handovers, are your developers running the buildings as "furnished 5-star hotel-apartments" (with 1-month a year owner occupancy & 40%-60% split in profits) or are you planning to rent them out privately, as unfurnished private rentals?
hi, everyone I'm due to get my apartment in the Venetian and I'm just wondering if anyone has used a power of attorney or letter of authority to effect handover , if so is anyone willing to share a template of what should be included and how it should be set out?
Also what is the process in term of going to the embassy
Based in London do you need an appt or just turn up ? Is it done the same day ?
Thanks for any advice .
Hi cherry p have you sent your poa was the process easy ? Particularly at the embassy I just need to know what they require if your able to help , thanks
Hi yasmazid, im seeing a notary tomorrow who will do all that is needed with the embassy etc. Got a poa from my agents in dubai but weve changed it via a lawyer in the uk. It takes about 10 days at the embassy i think. The notary manages it for us.
I've seen video of my apartment and it is no where near done I think snagging will take at least three months if others are I a similar position !
This is just a way of getting all this money from us !
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