#PROJECT: DUBAI SPORTS CITY

[Towers3]

Originally Posted by Rob Timpie

and then we get our money back?

Pay your installsment into a sand castle, quick march

[komer64]

Fellow investors

Those investors how are paying for Elites 3 , 5 and 6 should stop paying any further instalments for just empty concrete shell.
Triplanet has just shown its ugly face and it it’s disturbing.
Today I just received the progress report to date for Elite 4, which shows no progress from August 2011.
in the past they have done 2 floors in a month to rake as much as the installment as possible and now they can’t put one nail on a wall in 2 months.
The project has now stopped and there is no way they can complete in summer 2012.
All above project will face the same fate.
Please force them to link your payments to the progress of the block work, mechanical, electrical , window & doors etc.
Be careful guys

[UAE Investor]

update from amplesou (banned) hear.

http://www.skyscraperlist.com/forumd...ai-Sports-City

[Rob Timpie]

Originally Posted by UAE Investor

update from amplesou (banned) hear.

http://www.skyscraperlist.com/forumd...ai-Sports-City

Great pics from Amp again.
Where are the pics from those who banned Amplesou...???

[Towers3]

Has anyone got any legal advice about defaulting? When can Developers or Investors to other investors do this? Or can they? Even past completion dates or completion of a project? Seems to be two camps on here now, investors that want to invest and investors that don't want to or don't trust the developers. Without investment nothing's going to happen though. Or new money as the Developers are calling it.

[Towers3]

Originally Posted by Rob Timpie

Great pics from Amp again.
Where are the pics from those who banned Amplesou...???

There's work on Ample's building thats why. Completion next March or has it been delayed again?

Do you want to see a pic of an on hold building Rob? Or maybe a meeting with a Developer? 100's going on... Investors/Committees trying to get their projects going again.

Hope Canal completes like all the buildings in DSC. Good luck and good work Amp etc

http://www.skyscraperlist.com/showth...0F-Res-m/page7

[Towers3]

Originally Posted by Towers3

Has anyone got any legal advice about defaulting? When can Developers or Investors to other investors do this? Or can they? Even past completion dates or completion of a project? Seems to be two camps on here now, investors that want to invest and investors that don't want to or don't trust the developers. Without investment nothing's going to happen though. Or new money as the Developers are calling it.

Its a question... I'm not proposing it. Its a legal question...

[kamenoff]

I have obtained a legal advice and as you know the advice was to go to Court and the Developer was in default. It is going to be expensive and lengthy. My question is why the Government in Dubai doesn't do something? We, the Investors had an assurance that our money is safe in the Escrow accounts. I understand that the Land department conducts audits of the Escrows that means there should be money in. In this situation why the money is not returned back to the Investors if the projects are in severe delay, on hold or cancelled? By keeping the money in the Escrows, the Developers are paralysed, the Investors also and at the same time they cannot borrow more money to invest..it is like a vicious circle. The way I see it, not the Courts, RERA should sort out this mess...

[Towers3]

Originally Posted by kamenoff

I have obtained a legal advice and as you know the advice was to go to Court and the Developer was in default. It is going to be expensive and lengthy. My question is why the Government in Dubai doesn't do something? We, the Investors had an assurance that our money is safe in the Escrow accounts. I understand that the Land department conducts audits of the Escrows that means there should be money in. In this situation why the money is not returned back to the Investors if the projects are in severe delay, on hold or cancelled? By keeping the money in the Escrows, the Developers are paralysed, the Investors also and at the same time they cannot borrow more money to invest..it is like a vicious circle. The way I see it, not the Courts, RERA should sort out this mess...

They don't want thousands of people going to court. Its bad PR...

The Government didn't make the investment though. Its off site... Legally if the Land Government have messed up the escrow accounts, who's liable? When are they going to release the escrows or say there's no money in them?

I've had the same advice. Expensive and lengthy... The Developer takes an investor to court over defaulting that investor looses the right to take the Developer to court though.

Even if one or two buildings complete, you've got a completed building on a building site. Nightmare! The Developers will sting you with maintenance fees etc

Is anyone actually living in DSC?

[kamenoff]

That is why we have to find way to get out of the Contract/ Agreement. As far as I am concern our contracts are invalid since they are covered until the completion date of the building. I haven't re-negotiated or intend to negotiate new contract. I am just considering my options but I have paid enough money and I am not intending to pay more in place where agreement/ contract means nothing and there is no respect neither from Developers nor from the Government and I can assure everyone that if the Government doesn't do something to protect the rights of the Investors will take generations before somebody will think to put the money in this place...

[Towers3]

http://www.emirates247.com/property/...11-22-1.429427

[Towers3]

What year did the escrow account law come into effect please?

[UAE Investor]

Originally Posted by Towers3

What year did the escrow account law come into effect please?

2007

[Towers3]

Originally Posted by UAE Investor

2007

Thanks...

http://gulfnews.com/business/propert...ector-1.132404

http://localhost/gnimages/07/07/25/law.pdf

[kamenoff]

Thanks for the links..keep the info going.

[Towers3]

England captain Andrew Strauss says that playing their forthcoming Test series against Pakistan at a neutral venue in Dubai is "slightly strange" and "not ideal".

Touring sides are still banned from playing in Pakistan after the Sri Lankan team were attacked in Lahore in 2009.

Strauss also voices wider concerns about the status of the Test game, saying the International Cricket Council "need to work hard to make sure it's well-supported" across the world.

http://news.bbc.co.uk/sport1/hi/cricket/16046915.stm

[kamenoff]

This is another reason why Sport city should be completed sooner than later. Dubai is still one of the safest city in the region.

[Towers3]

Quote:
Originally Posted by True Blue
The strange thing is that UAE effectively gave state employees a massive pay rise recently, could possibly be insurance to prevent possible uprising that are happening all around the Arab countries. Such and event would be the end for Dubai.


Secret Desert Force Set Up by Blackwater’s Founder

In fact, they were soldiers for a secret American-led mercenary army being built by Erik Prince, the billionaire founder of Blackwater Worldwide, with $529 million from the oil-soaked sheikdom.

Mr. Prince, who resettled here last year after his security business faced mounting legal problems in the United States, was hired by the crown prince of Abu Dhabi to put together an 800-member battalion of foreign troops for the U.A.E., according to former employees on the project, American officials and corporate documents obtained by The New York Times.

The force is intended to conduct special operations missions inside and outside the country, defend oil pipelines and skyscrapers from terrorist attacks and put down internal revolts, the documents show. Such troops could be deployed if the Emirates faced unrest in their crowded labor camps or were challenged by pro-democracy protests like those sweeping the Arab world this year.

http://www.nytimes.com/2011/05/15/wo...pagewanted=all

Copy of the contract:

http://graphics8.nytimes.com/package...ref=middleeast

[UAE Investor]

Originally Posted by Towers3

Quote:
Originally Posted by True Blue
The strange thing is that UAE effectively gave state employees a massive pay rise recently, could possibly be insurance to prevent possible uprising that are happening all around the Arab countries. Such and event would be the end for Dubai.


Secret Desert Force Set Up by Blackwater’s Founder

In fact, they were soldiers for a secret American-led mercenary army being built by Erik Prince, the billionaire founder of Blackwater Worldwide, with $529 million from the oil-soaked sheikdom.

Mr. Prince, who resettled here last year after his security business faced mounting legal problems in the United States, was hired by the crown prince of Abu Dhabi to put together an 800-member battalion of foreign troops for the U.A.E., according to former employees on the project, American officials and corporate documents obtained by The New York Times.

The force is intended to conduct special operations missions inside and outside the country, defend oil pipelines and skyscrapers from terrorist attacks and put down internal revolts, the documents show. Such troops could be deployed if the Emirates faced unrest in their crowded labor camps or were challenged by pro-democracy protests like those sweeping the Arab world this year.

http://www.nytimes.com/2011/05/15/wo...pagewanted=all

Copy of the contract:

http://graphics8.nytimes.com/package...ref=middleeast

Hey towers ,on a negative vibe again...!

Won,t help you get your pars inheritance back any quicker... rather the reverse if you ask me !

Lets just do the opersit of what you are trying to post ( negative propaganda about DSC) ITS QUITE EASY ,just like this ....

Pakistani rugby league team makes its debut in historic first at Dubai Sports City
Plays amateur side from UK watched by broadcaster and former Great Britain player Mike Stephenson

Pakistani team captain Kashif Khwasa: "We want to go back to Pakistan and develop rugby within schools, universities and the army so that we can really help with the game's development"

Dubai Sports City General Manager � Sports Business Mr Maqbul Dudhia: "This is the first rugby match to be played at Dubai Sports City's Academy Campus and we are proud to be part of such a historic event. We look forward to putting our fantastic facilities to further use for the benefit of sport in Dubai and the world"


http://www.dubaisportscity.ae/NewsDetails.asp?id=315

Funny you did,nt find and post this hey !

[UAE Investor]

A R Rahman Live in concert in DSC (how do they fit that all in ,between all the internatonal cricket beats me...!

http://www.dubaisportscity.ae/EventDetails.asp?id=26