#PROJECT: DUBAI SPORTS CITY - Page 123

UAE Investor · January 22nd, 2012, 10:58 AM

Quote:

Originally Posted by Towers3

Els Club, Club house is set to open on 5th April.

Might be early i.e. 1st of april ....

UAE Investor · January 22nd, 2012, 11:02 AM

Quote:

Originally Posted by Towers3

Dubai fancied for Pacquiao-Mayweather bout

http://www.emirates247.com/sports/ot...01-19-1.438489

http://www.emirates247.com/sports/ot...01-15-1.437578

Are they going to box in DSC ..?

so anything to do with UAE sport in the future we should just post here...... righhhht

UAE Investor · January 22nd, 2012, 11:14 AM

English investors battle Dubai Sports City builders

English cricket fans focused on the Test match against Pakistan in Dubai Sports City, hundreds of UK investors were battling builders over stalled projects in the surrounding development.

Sports City courted international homebuyers with plans to build a US$4 billion (Dh14.6bn), 4.6 million-square-metre, mixed-use development around a mix of sports complexes including a multi-purpose, 60,000-seat stadium. But so far, the only large project completed is a cricket stadium.

Many of the residential projects are half built, leaving most of the area around the stadium as a construction zone dotted with idle cranes and concrete building shells.

"Obviously it will be a bittersweet moment when England step out to play in Dubai Sports City," said Christian Thorne, whose parents invested more than Dh1.1 million in two Sports City apartment towers that are unfinished.

Several groups of UK buyers are pursuing developers, hoping for refunds or to spur construction of long-delayed projects. Mr Thorne bought apartments in Champions Tower 3 and Oasis 1, which were scheduled to be built by 2009.

"Our projects should have been completed by now," Mr Thorne said. "Instead we're stuck in a battle like hundreds of other English investors to get our money back."

Sports City is one of the centrepieces of Dubailand, a Dh235bn development billed as "the world's most ambitious tourism, leisure and entertainment project". The plan called for amusement parks, the world's largest shopping mall, office towers and residential developments grouped around different themed developments.

In Sports City, sub-developers bought land and launched dozens of individual projects, hoping sports events would attract tourists. Several developers offered buyers hotel-apartment schemes and guaranteed rental income.

"The feeling was that by hosting global sporting events there would be huge demand," said Matthew Green, the head of research for the property firm CB Richard Ellis. "But that hasn't happened."

Sports City has opened an Ernie Els signature golf course and a cricket academy, in addition to the cricket stadium. But construction has been delayed on the 60,000-seat multi-purpose stadium and a 10,000-seat indoor stadium, which were scheduled for completion by the end of 2009.

The two stadiums are being redesigned, said Rajeshree Iyer,the head of marketing for Dubai Sports City.

"We will resume construction thereafter," she said. "We are simultaneously undergoing a research study to ascertain the demand for events in Dubai, which will help us determine the new capacity."

While Sports City reassesses the projects, many buyers in stalled residential developments have abandoned their initial investments, leaving developers to scramble for cash to compete the projects. In some projects, half the buyers have defaulted.

"Many people invested beyond their capacity," said Ahmed Shaikhani, the managing director of Memon Investments, which is building five projects in Sports City, including the Champions towers.

Mr Shaikhani said all the projects would be completed in the next two years. Memon has been offering buyers deals to consolidate their investments and reduced prices if they continue to make their payments.

However, the company recently sent buyers a notice demanding thousands of dirhams in registration and utility connection fees. The company is also refusing to refund money. "Cash back is like committing suicide" for a project that needs financing to continue construction, Mr Shaikhani said. More than 70 per cent of the buyers "understand the current situation", he added.

But other buyers in Sports City are losing faith.

"Sports City was billed as being this great sporting location," said one English investor, part of a group of 70 buyers in the unfinished project called the Cube. "It's basically a building site, and a deserted building site at that."

But not all buyers are trying to recover their money.

"We just want keys to an apartment," said Tony Hynes, who has invested Dh1.1m in two apartments in a development called Bermuda Views.

Part of a group of 175 buyers, he praised the master plan and the concept for the development.

"Nobody can blame anybody for the loss of value," My Hynes said. "Just get in there and build it and we'll take it."

kbrass@thenational.ae

http://www.thenational.ae/thenationa...#tabs-1-tab-2_

UAE Investor · January 22nd, 2012, 11:21 AM

Mention this ..more important imo..

i won,t bother name dropping ..CT

Quote:

Originally Posted by Towers3

I have nothing to do with Oasis 2 but I feel sorry for the Investors.

All the Oasis projects are over, there will just be a big squabble in the end between the investors who have paid 100% and who haven't.

Do you think the cricket will make people invest in DSC or spark some life into the area?

Your parents invested in Oasis 2 ?

Towers3 · January 22nd, 2012, 08:45 PM

[QUOTE=

Towers3 · January 25th, 2012, 09:44 AM

This is .

Towers3 · January 25th, 2012, 09:50 AM

Quote:

Originally Posted by Towers3

BluMirageRAKMug

This is the same story across many many many UAE developments - developers not investing any funds but relying on investor payments - then blaming investors for not continuing to pay 3 years after completion was due - you have to wonder what Mr Shaikhani is talking about - if 70% of his investors have paid why has his company not built the development? Of course those who have fully paid want the property built as they have no hope of getting anything back. Even though the ruler of Dubai said no-one would lose money investing in Dubai - LoL future investors beware.

Wow, they're even allowing these comments at the end of the article.

UAE Investor · January 25th, 2012, 11:00 AM

DSC Directors are the problem in DSC ...

They have not paid there contractors ...

i.e

Cricket tower
Golf hub towers 1&2
Golf club building and all the other Academies except cricket maybe the ICC had a helping hand there !

Also dispute with directors and DSC/ unec (contractors) slowing involvement in Canal Residence West imo .

Sub developers are slowing in sync with this because rents will be so poor, why complete while the place is such a mess ?

Of course the problem with said Directors is there willingness to part with there not so hard earned money.

of course the Dubai Government will be getting some financial reward for the on going land sales( part payments) in DSc almost on weekly basis ,
problem is ,are they putting the cash back in to DSc or ..?

Maybe there is a different agenda.. and poor old head of sales and marketing in DSc have to hold the fort and give indicators which can not be any form of guarantee

on that basis would you put anything in a letter or even an e-mail..

Is it about time that the Directors came out and made a statement, or have they already done a runner..

When i say a statement i don,t mean BS in the local press...we all know what that means !!

Heard yesterday they will not be filling the canal for several years well ok, 5 at least but..
reason for rant ..DSC give me my F/King money back..

Towers3 · January 25th, 2012, 11:20 AM

Test briefing: A

Towers3 · January 26th, 2012, 01:20 AM

Quote:

Originally Posted by UAE Investor

DSC Directors are the problem in DSC ...

They have not paid there contractors ...
reason for rant ..DSC give me my F/King money back..

Just hope the third test lasts for five days and they've picked some days for the 20/20 games when people can go.

Towers3 · January 26th, 2012, 01:31 AM

The cricket dates...

Friday, 3 February 2012
Test match series
Third Test Match
Pakistan v England, Dubai, 06:00

Saturday, 18 February 2012
One-day international series
Third One Day International
Pakistan v England, Dubai, 11:00

Tuesday, 21 February 2012
One-day international series
Fourth One Day International
Pakistan v England, Dubai, 11:00

Thursday, 23 February 2012
International Twenty20 Series
Pakistan v England, Dubai, 14:00

Saturday, 25 February 2012
International Twenty20 Series
Pakistan v England, Dubai, 14:00

Towers3 · January 26th, 2012, 11:49 PM

Quote:

Originally Posted by unknownpleasures

Lol! the resurrection of amplesou, well that never surprised me at all! Lol! Unreal hey!

How did

stephanie betas · January 27th, 2012, 03:08 AM

dubai looks pretty good.....i was their last month with my clients

Towers3 · January 27th, 2012, 03:27 PM

Quote:

Originally Posted by stephanie betas

dubai looks pretty good.....i was their last month with my clients

Dubai

I Know · January 27th, 2012, 05:35 PM

the only thing that is clear, is that it is unclear

Towers3 · January 27th, 2012, 05:49 PM

[QUOTE=I Know;

UAE Investor · January 27th, 2012, 05:53 PM

Quote:

Originally Posted by I Know

the only thing that is clear, is that it is unclear

Towers3 · January 27th, 2012, 06:42 PM

Anyway... Good point below...

Panesar's spell was seen by the biggest crowd of the series so far, and that was terrific.

Fans came to the match after Friday prayers and filled the ground in a way we were told they would before the series started.

It was free to get in, so maybe that is a lesson to some of the countries struggling to fill their grounds - is it really worth charging people the equivalent of a few pounds rather than let them in for nothing?

Sport is supposed to be played in front of spectators, and the cheering, chanting and drum-beating inside the ground today contributed to a really good atmosphere.

http://news.bbc.co.uk/sport1/hi/cricket/16762894.stm

UAE Investor · January 27th, 2012, 08:27 PM

Community Pool available for residents who,s home /apt is complete...!

UAE Investor · January 28th, 2012, 12:04 PM

Quote:

Originally Posted by UAE Investor

Community Pool available for residents who,s home /apt is complete...!

So we will be able to go for a morning run and then a dip before breakfast...

Can,t wait ...oh well !

January 22nd, 2012, 11:14 AM	#2443
UAE Investor http://www.skyscraperlist Join Date: Jan 2011 Posts: 955 Likes (Received): 16	English investors battle Dubai Sports City builders English cricket fans focused on the Test match against Pakistan in Dubai Sports City, hundreds of UK investors were battling builders over stalled projects in the surrounding development. Sports City courted international homebuyers with plans to build a US$4 billion (Dh14.6bn), 4.6 million-square-metre, mixed-use development around a mix of sports complexes including a multi-purpose, 60,000-seat stadium. But so far, the only large project completed is a cricket stadium. Many of the residential projects are half built, leaving most of the area around the stadium as a construction zone dotted with idle cranes and concrete building shells. "Obviously it will be a bittersweet moment when England step out to play in Dubai Sports City," said Christian Thorne, whose parents invested more than Dh1.1 million in two Sports City apartment towers that are unfinished. Several groups of UK buyers are pursuing developers, hoping for refunds or to spur construction of long-delayed projects. Mr Thorne bought apartments in Champions Tower 3 and Oasis 1, which were scheduled to be built by 2009. "Our projects should have been completed by now," Mr Thorne said. "Instead we're stuck in a battle like hundreds of other English investors to get our money back." Sports City is one of the centrepieces of Dubailand, a Dh235bn development billed as "the world's most ambitious tourism, leisure and entertainment project". The plan called for amusement parks, the world's largest shopping mall, office towers and residential developments grouped around different themed developments. In Sports City, sub-developers bought land and launched dozens of individual projects, hoping sports events would attract tourists. Several developers offered buyers hotel-apartment schemes and guaranteed rental income. "The feeling was that by hosting global sporting events there would be huge demand," said Matthew Green, the head of research for the property firm CB Richard Ellis. "But that hasn't happened." Sports City has opened an Ernie Els signature golf course and a cricket academy, in addition to the cricket stadium. But construction has been delayed on the 60,000-seat multi-purpose stadium and a 10,000-seat indoor stadium, which were scheduled for completion by the end of 2009. The two stadiums are being redesigned, said Rajeshree Iyer,the head of marketing for Dubai Sports City. "We will resume construction thereafter," she said. "We are simultaneously undergoing a research study to ascertain the demand for events in Dubai, which will help us determine the new capacity." While Sports City reassesses the projects, many buyers in stalled residential developments have abandoned their initial investments, leaving developers to scramble for cash to compete the projects. In some projects, half the buyers have defaulted. "Many people invested beyond their capacity," said Ahmed Shaikhani, the managing director of Memon Investments, which is building five projects in Sports City, including the Champions towers. Mr Shaikhani said all the projects would be completed in the next two years. Memon has been offering buyers deals to consolidate their investments and reduced prices if they continue to make their payments. However, the company recently sent buyers a notice demanding thousands of dirhams in registration and utility connection fees. The company is also refusing to refund money. "Cash back is like committing suicide" for a project that needs financing to continue construction, Mr Shaikhani said. More than 70 per cent of the buyers "understand the current situation", he added. But other buyers in Sports City are losing faith. "Sports City was billed as being this great sporting location," said one English investor, part of a group of 70 buyers in the unfinished project called the Cube. "It's basically a building site, and a deserted building site at that." But not all buyers are trying to recover their money. "We just want keys to an apartment," said Tony Hynes, who has invested Dh1.1m in two apartments in a development called Bermuda Views. Part of a group of 175 buyers, he praised the master plan and the concept for the development. "Nobody can blame anybody for the loss of value," My Hynes said. "Just get in there and build it and we'll take it." kbrass@thenational.ae http://www.thenational.ae/thenationa...#tabs-1-tab-2_ Last edited by UAE Investor; January 22nd, 2012 at 11:20 AM.

January 22nd, 2012, 08:45 PM	#2445
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	[QUOTE= Last edited by Towers3; August 22nd, 2012 at 02:33 AM. Reason: edit

January 25th, 2012, 09:44 AM	#2446
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	This is . Last edited by Towers3; August 22nd, 2012 at 02:34 AM. Reason: edit

January 25th, 2012, 11:20 AM	#2449
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	Test briefing: A Last edited by Towers3; August 22nd, 2012 at 02:34 AM. Reason: edit

January 27th, 2012, 05:49 PM	#2456
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	[QUOTE=I Know; Last edited by Towers3; August 22nd, 2012 at 02:35 AM. Reason: edit

January 25th, 2012, 11:00 AM	#2448
UAE Investor http://www.skyscraperlist Join Date: Jan 2011 Posts: 955 Likes (Received): 16	DSC Directors are the problem in DSC ... They have not paid there contractors ... i.e Cricket tower Golf hub towers 1&2 Golf club building and all the other Academies except cricket maybe the ICC had a helping hand there ! Also dispute with directors and DSC/ unec (contractors) slowing involvement in Canal Residence West imo . Sub developers are slowing in sync with this because rents will be so poor, why complete while the place is such a mess ? Of course the problem with said Directors is there willingness to part with there not so hard earned money. of course the Dubai Government will be getting some financial reward for the on going land sales( part payments) in DSc almost on weekly basis , problem is ,are they putting the cash back in to DSc or ..? Maybe there is a different agenda.. and poor old head of sales and marketing in DSc have to hold the fort and give indicators which can not be any form of guarantee on that basis would you put anything in a letter or even an e-mail.. Is it about time that the Directors came out and made a statement, or have they already done a runner.. When i say a statement i don,t mean BS in the local press...we all know what that means !! Heard yesterday they will not be filling the canal for several years well ok, 5 at least but.. reason for rant ..DSC give me my F/King money back..

January 26th, 2012, 01:31 AM	#2451
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	The cricket dates... Friday, 3 February 2012 Test match series Third Test Match Pakistan v England, Dubai, 06:00 Saturday, 18 February 2012 One-day international series Third One Day International Pakistan v England, Dubai, 11:00 Tuesday, 21 February 2012 One-day international series Fourth One Day International Pakistan v England, Dubai, 11:00 Thursday, 23 February 2012 International Twenty20 Series Pakistan v England, Dubai, 14:00 Saturday, 25 February 2012 International Twenty20 Series Pakistan v England, Dubai, 14:00

January 27th, 2012, 03:08 AM	#2453
stephanie betas BANNED Join Date: Jan 2012 Posts: 21 Likes (Received): 0	dubai looks pretty good.....i was their last month with my clients

January 27th, 2012, 05:35 PM	#2455
I Know Registered User Join Date: Jul 2010 Posts: 1,121 Likes (Received): 1	the only thing that is clear, is that it is unclear

January 27th, 2012, 06:42 PM	#2458
Towers3 Registered User Join Date: Mar 2011 Posts: 537 Likes (Received): 4	Anyway... Good point below... Panesar's spell was seen by the biggest crowd of the series so far, and that was terrific. Fans came to the match after Friday prayers and filled the ground in a way we were told they would before the series started. It was free to get in, so maybe that is a lesson to some of the countries struggling to fill their grounds - is it really worth charging people the equivalent of a few pounds rather than let them in for nothing? Sport is supposed to be played in front of spectators, and the cheering, chanting and drum-beating inside the ground today contributed to a really good atmosphere. http://news.bbc.co.uk/sport1/hi/cricket/16762894.stm

January 27th, 2012, 08:27 PM	#2459
UAE Investor http://www.skyscraperlist Join Date: Jan 2011 Posts: 955 Likes (Received): 16	Community Pool available for residents who,s home /apt is complete...!

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