#PROJECT: JUMEIRAH VILLAGE

[Mina786]

Today after notifying Nakheel of arbitration proceedings, I recieved the following email: See my reposnse - feel free to use mine as a template.

Upshot is Nakheel is trying to stifle everyone by unilaterally changing the terms of the Sale and Purchase Agreement. I strongly urge you, and your friends, to reject the email immediately. Otherwise they might claim that you have accepted the revised completion date from a legal perspective. I can tell you there is no way that they will hand over the villas in June 2012 - its likely to be 2013 (inside info).

Contact me if you want to discuss, or join in on the action I am taking.

Best regards,

Mina

I have just received the following email from your customer services desk, which I reject and dispute and I put Nakheel on notice that I do not accept the revised "anticipated completion date" as Nakheel are already in breach of the Sale and Purchase Agreement. Furthermore, I did not receive the email (or by anything by post) that Nakheel purport to have sent me in April 2011 and I ask that you forward this to me for my files by email and in hard copy.

The Sale and Purchase (the Agreement) expressly stipulates that the anticipated completion date will not be more than 12 months from December 2008. We both signed this Agreement and I have never agreed or consented in writing to the terms of the Agreement being varied, therefore, I do not agree or consent to the unilateral revision to the Agreement that is proposed in the email below and I wholly reject the same.

I again, after numerous emails, all on file, ask that someone from Nakheel contact me immediately to take matters forward and arrange for the arbitration proceedings.

Regards,

26 July, 2011Customer No:Name: Revised Payment Schedule & Completion Dates for Jumeirah VillageProperty Code(s): Dear Valued Customer,
We refer to our Newsletter dated April 2011, informing you about the continuation of construction work in Jumeirah Village upon the completion of the comprehensive restructuring plan carried out during 2010 between Nakheel and its contractors.
We hereby wish to update you on certain progress on the project since our last communication to you. We can now confirm that work has recommenced and the average percentage of completion of the project is 93%.
In line with the above, we would like to inform you that the new anticipated completion date for your property has been revised to June 2012.

We have also updated the payment schedule taking into consideration of the new anticipated completion date. Please refer to the table mentioned below:
85%
First Installment
15%
Final Installment - Due on Completion
You will also be receiving a payment reminder from our Collections Team, to assist you through the payment formalities if there are any remaining payments due on your property.

Finally, we once again express our gratitude for the patience and support you have shown us and we assure you of our commitment to handover your property at the earliest.

Should you wish to communicate your thoughts and feedback, please feel free to contact our Customer Services Centre at +971 4 390 3333 or email info@nakheel.com .
Yours sincerely,
On behalf of Jumeirah Village LLC
Nakheel Customer Services Centre

[Mina786]

Helpful Answers and Questions

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

1-Do you have any sold information about winning cases against Nakheel in the court?

Mina: I am not sure what you mean by sold information, as the parties are required to keep things confidential, it is hard to get this info. However, [xxxxx] is an arbitrator and I know two arbitration lawyers who have advised me, that depending on the facts, it is highly probable that I will win my case.

2-do you have any information about investors that were able to negotiate with Nakheel and obtained good compensations ?

Nakheel have a habit of ignoring people until things get serious, in most cases they will only negotiate with those who have instructed lawyers or who have started a claim. The issue is that we all have an arbitration clause in our SPA, this means we have to file and pay the arbitration fees ourselves. The DIAC rules do not specify that fees will be awarded, so you have to ask for this and potentially this could be your loss (your own fees - this depends on the value of your claim). You shouldn't have to pay Nakheel's legal expenses so there isn't a real huge loss if you try to file a case apart from the registration fees (Nakheel will not pay the 50% they have to pay so you will have to stump up the whole amount - you should get it back when you win the case). The issue is you might find it difficult to find an arbitrator, but you can do a "paper case" if Nakheel agree to it so a full on hearing is not necessary (Nakheel know this and will try to scare you and will insist on a hearing - it makes them look bad not you and will add to their own costs. My case is quite black and white, I don't think I need a hearing - lets see. I am willing to pay and lose the registration fee just for Nakheel to take me seriously and start negotiating with me. You see, they know when to start taking you seriously and they have to mitigate their losses, you don't persue them, they won't and are not obliged to take you seriously. In most cases, when people know they will be getting their property, or are given a date they back down and forget everything they are entitled to or might have lost. How many times have you all received revised dates - was the villa ever delivered???You can take your property and at the same time claim your losses, aint nothing wrong with that!

3-Do you have any estimates about the costs of filing a case against nakheel ?

This depends on your circumstances. Take a look at the schedule of fees on the DIAC website. If, and when you win an award, you will have to enforce it. It is not really a good idea (except in certain circumstances) to collectively make a claim because we all might have different circumstances - plus Nakheel will argue this to get the case thrown out - this doesnt stop us from all discussing together and assisting eachother. In most cases poeple have been selfish and just do it themselves without discussing or publicly helping others. In addition complications arise if people pull out if you go in together, however, it is a good idea to all start a case individually to show that you mean business. It is just time consuming and people tend to get anxious when faced with Nakheel's lawyers making it difficult for you. Key is, hold your ground, if you do not instruct a lawyer surround yourself with supportive people (or other JVT owners).

4-Did you consult a law firm about this case ?

Yes.

[xxxx]

It is extremely selfish of people to leave others in the dark, at the end of the day it is very hard to claim that one is in breach of confidentiality if they orally tell you what happened, however, they will only speak to people they trust and know. At the same time, frankly, if you didn't support the case with them there has to be a cut off point in terms of what they tell you. At the end of the day they spent money and took a lot of time to get what they thought was reasonable, so it is understandable. There is however, a dispute and risk of taking class actions and DIAC could refuse to take the collective claim unless the circumstances of each case are the same - plus they want to make money why would they hear 10 cases for one fee. I most certainly have lots of paperwork, imagine 10 batches of it : )

Hope it helps, happy to answer more questions and be as helpful as I can be.

[Pleth]

Originally Posted by Mina786

Helpful Answers and Questions

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

1-Do you have any sold information about winning cases against Nakheel in the court?

Mina: I am not sure what you mean by sold information, as the parties are required to keep things confidential, it is hard to get this info.
.

What does this mean? If you win a case, you cannot tell your fellow investors about it??

Thanks Mina for your informative post.

[Mamusab]

Hi Mina
Please can you give me your contact no.

I am in similar situation and just do not know what to do !

Regards,
M

[hamed_r_i]

Originally Posted by Mina786

Helpful Answers and Questions

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

1-Do you have any sold information about winning cases against Nakheel in the court?

Mina: I am not sure what you mean by sold information, as the parties are required to keep things confidential, it is hard to get this info. However, [xxxxx] is an arbitrator and I know two arbitration lawyers who have advised me, that depending on the facts, it is highly probable that I will win my case.

2-do you have any information about investors that were able to negotiate with Nakheel and obtained good compensations ?

Nakheel have a habit of ignoring people until things get serious, in most cases they will only negotiate with those who have instructed lawyers or who have started a claim. The issue is that we all have an arbitration clause in our SPA, this means we have to file and pay the arbitration fees ourselves. The DIAC rules do not specify that fees will be awarded, so you have to ask for this and potentially this could be your loss (your own fees - this depends on the value of your claim). You shouldn't have to pay Nakheel's legal expenses so there isn't a real huge loss if you try to file a case apart from the registration fees (Nakheel will not pay the 50% they have to pay so you will have to stump up the whole amount - you should get it back when you win the case). The issue is you might find it difficult to find an arbitrator, but you can do a "paper case" if Nakheel agree to it so a full on hearing is not necessary (Nakheel know this and will try to scare you and will insist on a hearing - it makes them look bad not you and will add to their own costs. My case is quite black and white, I don't think I need a hearing - lets see. I am willing to pay and lose the registration fee just for Nakheel to take me seriously and start negotiating with me. You see, they know when to start taking you seriously and they have to mitigate their losses, you don't persue them, they won't and are not obliged to take you seriously. In most cases, when people know they will be getting their property, or are given a date they back down and forget everything they are entitled to or might have lost. How many times have you all received revised dates - was the villa ever delivered???You can take your property and at the same time claim your losses, aint nothing wrong with that!

3-Do you have any estimates about the costs of filing a case against nakheel ?

This depends on your circumstances. Take a look at the schedule of fees on the DIAC website. If, and when you win an award, you will have to enforce it. It is not really a good idea (except in certain circumstances) to collectively make a claim because we all might have different circumstances - plus Nakheel will argue this to get the case thrown out - this doesnt stop us from all discussing together and assisting eachother. In most cases poeple have been selfish and just do it themselves without discussing or publicly helping others. In addition complications arise if people pull out if you go in together, however, it is a good idea to all start a case individually to show that you mean business. It is just time consuming and people tend to get anxious when faced with Nakheel's lawyers making it difficult for you. Key is, hold your ground, if you do not instruct a lawyer surround yourself with supportive people (or other JVT owners).

4-Did you consult a law firm about this case ?

Yes.

[xxxx]

It is extremely selfish of people to leave others in the dark, at the end of the day it is very hard to claim that one is in breach of confidentiality if they orally tell you what happened, however, they will only speak to people they trust and know. At the same time, frankly, if you didn't support the case with them there has to be a cut off point in terms of what they tell you. At the end of the day they spent money and took a lot of time to get what they thought was reasonable, so it is understandable. There is however, a dispute and risk of taking class actions and DIAC could refuse to take the collective claim unless the circumstances of each case are the same - plus they want to make money why would they hear 10 cases for one fee. I most certainly have lots of paperwork, imagine 10 batches of it : )

Hope it helps, happy to answer more questions and be as helpful as I can be.

Hi mina,

Can I also have your contact details. I have a townhouse in district 8T with a home loan from NBD, I've been paying installments for a year know for a property not handed over but I cant continue any more.

i would realy apreciate any help from your experience.

thanks
Hamed

[Parisian Girl]

By Ed Attwood | Wednesday, 17 August 2011 3:13 PM

Contractor Arabtec has picked up a $76m contract to work on 523 townhouses and villas in Dubai for Nakheel’s delayed Jumeirah Village Circle development.

The firm will finish off 346 partially-built houses and build 177 new units, it said in a statement to the Dubai bourse on Wednesday. Work on the project is scheduled to be completed by the end of the first half of 2013.

Work on Jumeirah Village Circle stalled during the Dubai real estate correction, as developer Nakheel sought to restructure around $10.8bn in debt.

But the project was one of seven on Nakheel’s priority list for the resumption of construction once the period of debt restructuring had been completed. The firm invited bids from contractors to finish the work in February this year.

When completed, Jumeirah Village – Nakheel’s largest inland project - will have over 6,000 villas and townhouses, surrounded by residential towers.

Earlier this month, Arabtec posted a 74 percent drop in net profits to $7.9m in the second quarter. The construction major also saw revenue drop by 5.1 percent to $331m.

It has a backlog worth $4.08bn in all of its markets, and has been focusing on diversifying away from Dubai to focus on countries such as Saudi Arabia, Qatar and Egypt.

Arabtec, the UAE’s biggest builder by market value, is one of Nakheel’s largest trade creditors.

The developer behind the man-made islands off Dubai’s coast admitted earlier this month that it had again delayed its planned Islamic bond due to administrative problems.

Nakheel had been expected to issue the $1.63bn sukuk – a 60 percent part payment to its trade creditors, with the remaining debt payable in cash – by the end of June.

The bond is already being offered at a 20 percent discount in the secondary market by some trade creditors.

Nakheel was one of the biggest casualties of Dubai’s real estate collapse, which saw prices halve from their 2008-peak and almost half of developments in the emirate cancelled.

The developer’s inability to meet its debt obligations in the wake of a property collapse and the global credit crunch, helped trigger Dubai's debt crisis in 2009.

http://www.arabianbusiness.com/arabt...ct-416095.html

[ravgul]

HI there, considering buying a 2 bed villa at JV Triangle. Would anyone have any tips? Residents - how is it like living in there? Improvements over the past few months?

[spiderwoman]

Does anyone have a Townhouse in District 9 anywhere next to Townhouse Number 12- Jumeirah Village Triangle - I would just like to know the construction status - to what extent are the properties here completed? I would be most grateful for any feedback from someone who has driven by recently. Many thanks.

[Tanya 21]

Hi
I just wanted to know if anyone was still following up on cases regarding jumeirah village and whether there was a positive outcome

[Parisian Girl]

Ramola Talwar Badam | Apr 18, 2012


Residents were told about the outstanding bill when they called both Dewa and Nakheel. Antonie Robertson / The National

DUBAI // Water was restored to Jumeirah Village yesterday after being cut off for more than 20 hours.

http://www.thenational.ae/news/uae-n...r-unpaid-bills

[Chakazoolu]

[A.U.S. arch. Student]

wow, at least the grid is mapped out, this one is in for the long run. Bring back the 'old days.'

[camelrider]

@Chakazoolu

Nice photo, u have one of JVT? or where did u get this file from please?

appreciate an aerial photo of JVT

tks

[metlofts123]

http://www.ipetitions.com/petition/dubai_investors/

[Chakazoolu]

Originally Posted by camelrider

@Chakazoolu

Nice photo, u have one of JVT? or where did u get this file from please?

appreciate an aerial photo of JVT

tks

Unfortuntately the plane flew directly over JVT so I couldn't get a shot of it.

[Mamusab]

@chakazoolu, pls can you repost the photo.... i do not seem to have got it !

[Mamusab]

This is teh lastest update I received from Nakheel regarding the status of my Villa in Dist. 16 JVC

"The project team has stated that the anticipated completion date is in April, 2013."

[Parisian Girl]

By Andy Sambidge | Saturday, 16 June 2012 10:19 AM


Pacific Ventures' Edmondton Elm development in Dubai.

India-based developer Pacific Ventures has announced the launch of two new real estate projects in Jumeirah Village in Dubai.

The launch of Pacific Residencia and Pacific Edmonton Elm is a sign that Dubai's property market is on the path to recovery, the company said in a statement.

http://www.arabianbusiness.com/india...ts-462276.html

[MalcomX]

Apparently these two are part of the Tanmia initiative...does anyone know what the original projects' name were?

http://www.emirates247.com/property/...06-26-1.464576

[VCollaborator]

Work is expected to start soon on landscaping in Jumeirah Village

http://www.thenational.ae/news/uae-n...eirah-in-dubai