The SELECT thread... - Page 4

SGrCRAP · April 13th, 2011, 05:28 PM

Torch Folk,

You need to really watch Select Group around handover.... they will be in a tearing hurry to deliver this building as the late delivery penalties/goodwill payments will be phased depending on when you signed the SPA. So more units will become liable for a credit as time ticks by.

Essentially SG will go into hyper drive to knock the place out and this will involve short cuts galore. They miraculously managed to get our fire alarm system passed as acceptable when in actual fact it didn't work. We had a fire in the garbage room and the upper floors filled with smoke - the smoke detectors didn't work and when the occupants broke the wall mounted boxes the main bells didn't trigger!!!!!! The concierge had to manually trigger the main alarm and the security boys put the fire out. We've been told the owners will have to pay for the remedial work required to bring it up to standard! You couldn't make it up.....

Coupled with basic safety keep an eye on the common areas particularly plumbing around your pool and in the basement.

The key problem is your SPA will state that any disputes over snagging will be decided by the project architect - if it's the same clown they used on the point he's the furthest thing from independent you can get. Brown envelopes I suspect.

Select appear to be rolling these places out using the same cookie cutter stitch up model - they haven't learnt anything but I guess they think there's not much owners can do.

Something noteworthy......certain Russian owners have reportedly sent 'persuasive gentlemen' into various developer's offices when they don't get what they consider to be fair value. Miraculously full refunds have been issued! I hope Select don't have too many Russian clients!

Sani Ramic · April 13th, 2011, 05:36 PM

Quote:

Originally Posted by Tosh

Launch pad for the next NASA mission!

great....hehe dubai space station, and Dubai World Central Airport the landing base

Sheltie · April 13th, 2011, 05:49 PM

Quote:

Originally Posted by Rider

Have any SPP investors received anything yet?

A final statement should be issued showing the final 10% due plus the service charges. Wonder if the goodwill payments will be the same for LPP and SPP investors.

I imagine an IOA can't be formed until all apartments are handed over.

I am on SPP and just received my e mail notification. Goodwill is 7,645.69AED for a 2 bed. What would the LPP get for a 2 bed.

flashinglights · April 13th, 2011, 05:52 PM

Jeez, I hope someone called the police - what a complete shambles... How did it get past Civil Defence???!?

Quote:

Originally Posted by SGrCRAP

Torch Folk,

You need to really watch Select Group around handover.... they will be in a tearing hurry to deliver this building as the late delivery penalties/goodwill payments will be phased depending on when you signed the SPA. So more units will become liable for a credit as time ticks by.

Essentially SG will go into hyper drive to knock the place out and this will involve short cuts galore. They miraculously managed to get our fire alarm system passed as acceptable when in actual fact it didn't work. We had a fire in the garbage room and the upper floors filled with smoke - the smoke detectors didn't work and when the occupants broke the wall mounted boxes the main bells didn't trigger!!!!!! The concierge had to manually trigger the main alarm and the security boys put the fire out. We've been told the owners will have to pay for the remedial work required to bring it up to standard! You couldn't make it up.....

Coupled with basic safety keep an eye on the common areas particularly plumbing around your pool and in the basement.

The key problem is your SPA will state that any disputes over snagging will be decided by the project architect - if it's the same clown they used on the point he's the furthest thing from independent you can get. Brown envelopes I suspect.

Select appear to be rolling these places out using the same cookie cutter stitch up model - they haven't learnt anything but I guess they think there's not much owners can do.

Something noteworthy......certain Russian owners have reportedly sent 'persuasive gentlemen' into various developer's offices when they don't get what they consider to be fair value. Miraculously full refunds have been issued! I hope Select don't have too many Russian clients!

RedWayne28thfloor · April 13th, 2011, 06:03 PM

Quote:

Originally Posted by scoobudubai

If one is on the LPP and decides to sell now, I calculate that there will be a loss of 30 percent on all monies paid to date, based on the pre-pay balance due to select. Also based on the value of the apt being the same as it was 5 years ago.

Is this correct? or is there some other way to effectively have all monies paid to date returned?

Is there a refund clause in the torch SPA's?

Sid · April 13th, 2011, 06:03 PM

Quote:

Originally Posted by Sheltie

I am on SPP and just received my e mail notification. Goodwill is 7,645.69AED for a 2 bed. What would the LPP get for a 2 bed.

approx £1100/€1200. not great

Dubai_Steve · April 13th, 2011, 06:04 PM

Quote:

Originally Posted by RedWayne28thfloor

Is there a refund clause in the torch SPA's?

Yes but it can not be used due to force majeure.

mackie1964 · April 13th, 2011, 06:13 PM

Any chance someone can scan and post a copy of the addendum? I am working away for a few days!

CAJ · April 13th, 2011, 06:19 PM

I am on LPP and not recieved any goodwill payment

Beppe786 · April 13th, 2011, 06:20 PM

Quote:

Originally Posted by Dubai_Steve

Yes but it can not be used due to force majeure.

Our Bay Central SPA is different we can get our money back even if there is FM.. thats why they will rush too finish BC and they let Torch people wait as they couldnt do nothing

Dubai_Steve · April 13th, 2011, 07:34 PM

Quote:

Originally Posted by CAJ

I am on LPP and not recieved any goodwill payment

goodwill to all men or just those who made their LPP payments on time?

CAJ · April 13th, 2011, 07:59 PM

Quote:

Originally Posted by Dubai_Steve

goodwill to all men or just those who made their LPP payments on time?

Every payment was made on time but still no goodwill payment.Can anyone offer an explanation

propertymagnet · April 13th, 2011, 08:14 PM

Quote:

Originally Posted by Dubai_Steve

I thought chiller charges are paid by the tenant?

Time place charges are 13dhs sq ft does that include chiller charges?

yes it does Steve its all in, ,maintenance and chiller fees

RedWayne28thfloor · April 13th, 2011, 08:18 PM

Quote:

Originally Posted by Beppe786

Our Bay Central SPA is different we can get our money back even if there is FM.. thats why they will rush too finish BC and they let Torch people wait as they couldnt do nothing

Yes but just as well the lawyers are checking all the small print well in advance of handover so we don't have many nasty surprises

markev · April 13th, 2011, 10:12 PM

not had any notification yet- on floor 23 2bed on spp !

Dubai_Steve · April 13th, 2011, 11:49 PM

Quote:

Originally Posted by propertymagnet

yes it does Steve its all in, ,maintenance and chiller fees

Hmmm so Torch is 20.2 sq ft compared with 13 sq ft for Timeplace. Looks like Select are ripping us off already.

propertymagnet · April 13th, 2011, 11:57 PM

At Goldcrest Views in JLT we are now paying only 6 dhs a sq ft, for this first six months of the year, and we have a roof top swimming pool, 6 lifts, security , saunas, steam baths and a gym.....

Dubai_Steve · April 14th, 2011, 12:08 AM

Quote:

Originally Posted by mackie1964

Any chance someone can scan and post a copy of the addendum? I am working away for a few days!

[IMG]http://i53.************/ohsdpw.jpg[/IMG]

Free Time · April 14th, 2011, 07:04 AM

When the apartments are handed over, they will be without power and water (they will be disconnected on 1st May). Bit of a nuisance as will not be possible to test things during the handover and will be uncomfortably hot without air con. My main question is (assuming one is organised), how long does it take to get connected? So is it possible to have handover in the am and be connected by the end of the day?

Rider · April 14th, 2011, 08:42 AM

How can Select be removed if most owners are on LPP and are effectively being asked to sign away their voting rights for the next 9 years?

Also, are the service charges based on the sq feet as documented in the SPA or have they measured all the apartments on completion? The reason I ask is because I believe there is an issue with some of the 3 beds and it may be worth verifying the actual size of the apartments.

April 13th, 2011, 05:28 PM	#61
SGrCRAP Registered User Join Date: Jun 2009 Posts: 252 Likes (Received): 0	Late Delivery Penalties Torch Folk, You need to really watch Select Group around handover.... they will be in a tearing hurry to deliver this building as the late delivery penalties/goodwill payments will be phased depending on when you signed the SPA. So more units will become liable for a credit as time ticks by. Essentially SG will go into hyper drive to knock the place out and this will involve short cuts galore. They miraculously managed to get our fire alarm system passed as acceptable when in actual fact it didn't work. We had a fire in the garbage room and the upper floors filled with smoke - the smoke detectors didn't work and when the occupants broke the wall mounted boxes the main bells didn't trigger!!!!!! The concierge had to manually trigger the main alarm and the security boys put the fire out. We've been told the owners will have to pay for the remedial work required to bring it up to standard! You couldn't make it up..... Coupled with basic safety keep an eye on the common areas particularly plumbing around your pool and in the basement. The key problem is your SPA will state that any disputes over snagging will be decided by the project architect - if it's the same clown they used on the point he's the furthest thing from independent you can get. Brown envelopes I suspect. Select appear to be rolling these places out using the same cookie cutter stitch up model - they haven't learnt anything but I guess they think there's not much owners can do. Something noteworthy......certain Russian owners have reportedly sent 'persuasive gentlemen' into various developer's offices when they don't get what they consider to be fair value. Miraculously full refunds have been issued! I hope Select don't have too many Russian clients!

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April 13th, 2011, 06:13 PM	#68
mackie1964 Registered User Join Date: Oct 2006 Posts: 2,314 Likes (Received): 3	Any chance someone can scan and post a copy of the addendum? I am working away for a few days!

April 13th, 2011, 06:19 PM	#69
CAJ Registered User Join Date: Feb 2010 Location: YORK Posts: 71 Likes (Received): 0	I am on LPP and not recieved any goodwill payment

April 13th, 2011, 10:12 PM	#75
markev Registered User Join Date: Feb 2010 Posts: 48 Likes (Received): 0	not had any notification yet- on floor 23 2bed on spp !

April 13th, 2011, 11:57 PM	#77
propertymagnet Registered User Join Date: Oct 2007 Posts: 615 Likes (Received): 0	At Goldcrest Views in JLT we are now paying only 6 dhs a sq ft, for this first six months of the year, and we have a roof top swimming pool, 6 lifts, security , saunas, steam baths and a gym.....

April 14th, 2011, 07:04 AM	#79
Free Time Salam Join Date: May 2010 Location: London Posts: 45 Likes (Received): 0	When the apartments are handed over, they will be without power and water (they will be disconnected on 1st May). Bit of a nuisance as will not be possible to test things during the handover and will be uncomfortably hot without air con. My main question is (assuming one is organised), how long does it take to get connected? So is it possible to have handover in the am and be connected by the end of the day?

April 14th, 2011, 08:42 AM	#80
Rider Registered User Join Date: May 2006 Location: Stockholm Posts: 285 Likes (Received): 0	How can Select be removed if most owners are on LPP and are effectively being asked to sign away their voting rights for the next 9 years? Also, are the service charges based on the sq feet as documented in the SPA or have they measured all the apartments on completion? The reason I ask is because I believe there is an issue with some of the 3 beds and it may be worth verifying the actual size of the apartments.