#PROJECT: DUBAI SPORTS CITY

[Ali_Syed]

i am optimistic, yes. but the other side cant claim to be realistic either, they are more like pessimistic. reality is not absolute, its either realised from past or the present. but for something in the future, you can only make a call. be an optimist or a pessimist.

[huss129]

Link to story
Anybody wanting to watch this story please click on the YouTube link below.
If there are any oasis tower 1/2 investors out there you can get intouch with me direct "Nadeem" (I am the person in the story) on oasisinvestors@gmail.com or you can ring me on 0044 (0) 7833724455 (UK)
anytime

Let's work together to expose these crooks!

http://www.youtube.com/watch?v=Uw3PfxuFwq8

will keep everyone updated on further developments.

Regards,

Nadeem

[patience]

Please join this group and help support it.
http://www.facebook.com/group.php?gid=111864742188760

Many Thanks

[amplesou]

if shiek mo says everything will be completed then dsc please get on with your slow slow progress !

[baba toto]

Originally Posted by amplesou

if shiek mo says everything will be completed then dsc please get on with your slow slow progress !

Banks are not lending to developers, especially where the master development isn't complete/near completion. So nothing will change. Mere words from the Shiek won't change anything either.

Furthermore, there is a massive over supply in the property market and this will remain indefinitely, unless there is a radical increase of population in Dubai, but where are the jobs? Who will go to Dubai?

[baba toto]

Originally Posted by TommyDoe

http://gulfnews.com/business/propert...rties-1.648669

Does anybody know if DSC is going to be included in the list of tayseer projects? Thank you.

This is yet another PR ploy by the Government, another vague report of many...Good idea, but only if they were able to implement it ....If the Government starts to guarantee projects, who will guarantee the Government....

[baba toto]

ITV1 tonight (UK)**

See below quote by Jeetha in the Jumeirah Village thread...


--------------------------------------------------------------------------------

Homes from Hell
ITV1
First in a new documentary series. Today's episode looks at the British victims of Dubai's property crash. While the property boom was in full swing, they paid out thousands for brand new, state-of-the-art homes, but now the recession has left them with nothing. The programme meets the couple who invested in a yet-to-be-built ski resort, a family who were forced to flee in the middle of the night to avoid jail, and a man who travelled to Dubai to meet the developer who took his money but failed to build any apartments.

Also: at least 2 other Episodes, and 2 repeats.

http://www.itv.com/TVGuide/

[mb1612]

New law passed that maybe useful:

Handover Imminent? Investors’ Rights……

Nakheel’s recent restructure announcements, including a significant financial commitment from the Dubai Government, bring some hope to investors that construction will recommence on several Nakheel projects in the near future.

With this in mind, the second half of 2010 may see a surge in the number of units being handed over to investors who will finally be able to inspect their property and take physical possession.

Most contracts provide that the developer must deliver to the investor a notice of handover at least 30 days prior to completion. It is likely that this notice will include a financial statement which should set out the amount payable on completion and an invitation formally to inspect the property.

It is sometimes only at this point that an investor becomes aware of a change to the design or specifications of the property from the terms originally agreed. We refer below to a couple of common scenarios.

1. More for More

Developers have been known to demand additional amounts from investors, due to an increase in the total square footage of the property being delivered when compared with the area specified in the contract. The response to this situation depends on the exact terms of the contract.

Some contracts may expressly prohibit this, in which case its position is clear.

If the contract is silent on the issue, Article 12 of Law no 13 of 2008 applies. This states that if the property is larger than that agreed by the parties, the developer may not demand any uplift in price.

Incidentally, if the property delivered to the investor is smaller than that originally agreed, the developer must compensate the purchaser for the difference, unless the difference is marginal. Decree No. 6 of 2010 clarifies what is considered marginal by reference to a 5% variation limit.

Finally where the contract contains an express provision allowing the developer to claim an uplift should the size of the property be larger than that agreed, then the developer is entitled to claim the additional amount. This is governed by Decree no 6 of 2010 which provides that a developer may not claim the value of such increase unless otherwise agreed upon.

2. Material Changes

Where the specifications and finishes of a property delivered by a developer differ from those detailed in the contract, a close inspection of the terms of the contract is required.

A contract may include a provision enabling the developer to change, modify or vary the materials and specifications of the property, usually provided the new items are of equal or higher quality then the substituted items. In that case, provided the developer complies, such changes are allowed.

However, if the contract is silent on these issues, the position must be considered by reference to the applicable legislation.

Decree No. 6 of 2010 provides that where a property delivered by a developer is significantly different, in terms of specification, from the contract description, this forms a ground on which the purchaser may apply to the Dubai Court for cancellation of the contract, with a refund then becoming due.

In summary, a developer should hand over property complying, within reason, with the description in the contract. If that is not the case, the investor’s rights will depend on the exact terms of the contract and the content of applicable legislation.

For further information please contact Jerry Parks or Lindsey Wisher.

Taylor Wessing ( Middle East ) LLP

[baba toto]

Does anyone have new photos of DSC?

[seanmacaoidh]

Hi all
New construction pictures just went up for July.

link below

http://www.thecubedubai.com/index.ph...ionworksupdate

it looks as if they are starting to speed up even if it is ever so slight.

[amplesou]

seems to be going well ?

[baba toto]

Originally Posted by seanmacaoidh

Hi all
New construction pictures just went up for July.

link below

http://www.thecubedubai.com/index.ph...ionworksupdate

it looks as if they are starting to speed up even if it is ever so slight.

This is the general thread for DSC, not just for the Cube, so these pictures don't really help.

[amplesou]

pic taken from rufi twin towers !
pic came out smaller than i thought tho!
you can see in the distance the bridge( almost iconic) and red resisdence rising with cricket stadium behind

[darden]

I am sure many of you have heard about this Tayseer initiative where certain unfinished projects are going to be completed. Apparently they were going to announce today the list of the 40 projects that were involved. Just wanted to know if anyone knows of ths list and if DSC were to be included?????

[DXBLiving]

I visited DSC two days ago and to my surprise there is a lot of activity. By reading these posts, I thought everything was at a stand still and nobody was doing anything. Most of the sites had people working in them. Granted, they are going slow (probably because of lack of liquidity) but they are definitly moving forward. It might take longer than we all expected but it is moving. Let us keep our fingers crossed and hope for the best.

[hempig]

nice to hear a positive post for once, this is going to happen, keep the faith everyone we'll get there in the end, since the situation the whole world is in its bound to take longer but if we all start talking it up we might get something close to what we were promised ..!!!

[amplesou]

t6ij

[Rog Lucas]

Hi guys. Just been on a family holiday last week at the Jumeriah Beach Hotel & thought that would be a good time to pop over & see how my investment was getting on. At DSC I met Bishara & she kindly took me over in her car to look at CRW & see first hand how it was getting on. I told her I understood how the downturn has slowed things up but I did say to her that the lack of forth coming info from DSC was not good enough. I was informed that the definitive handover date for the first 3 towers in CRW will be in January after the snagging is complete. I had a quick glance at her monitor in her office, being nosey that is & it appears that most of us have paid 85% of the payment schedule, some 90%, some 70% & if like me your a 85% er or more you owe nothing else until handover day. we will get letters hopefully maybe Dec if not early Jan telling us of the scheduled handover date & when we can pick up our keys. It appears that a few people have defaulted at around 40% of payments & they're being repossessed by DSC and will be sold when the apartments are completed in Jan as Bishara said it's not a good btime to sell half finished builds. CR East has been put on hold so she has no idea what they'll do with the waste ground across the canal from CRW, also she does not know if there will be any water in the canal in the new year. The foundations for the two remaining towers at CRW are about to start and a few of the commercial properties at the base of our towers have been leased out for restaurants, shops etc. I think in a couple of years it will all look great, the malls were busy, hotels full, flights choca to Dubai so I think things are on the up! ATB Rog.

[hempig]

i think we should ban amps just so he cant get to 1000 !!!!! hehehe

[amplesou]

Originally Posted by hempig

i think we should ban amps just so he cant get to 1000 !!!!! hehehe

be banned
i think i have sale,d prety close to the wind on a number of occasions recently
but it had to be done!



welcome rog lucas !
thanks for your valuable report!
2 nd phase of CRW footings are all ready in-place but have been mothballed for nearly a year now but good to here they are starting up there again!
if you go further back on this thread you will see pics i took earlier this year on my visit to dubai
maybe this should be on the canal residence west thread ?