#UNDER C: CHAMPIONS TOWER, 15F Res (Sports City)

[MikeMuz]

Originally Posted by mb1612

i'm not as rich as you guys who dont need rental income etc. Having invested in 2006 and having already given Memon 85% -over £100,000, many other developers having released later are near to completion
Good luck to you both - $$$$ having plenty of

If I was rich, I would have bought more than one holiday home.!
However I will carry on working as hard as I can to pay for my apt, and will enjoy it twice as much when its ready.!!
$$$£££

[Rob Timpie]

Way to go, Mike!
Any new updates on the champion towers...?

[DXBhugefan]

Has anyone been approached by Memon asking for further payments due to increased unit area sizes?

[amplesou]

If the developer increases the size of your apartment you do not have to pay any more money that is the law in dubai!
pic taken this last week !

[Jack and Nicolette]

Dear Amplesou,

We appreciate your actual information on this forum.

We are from Holland and owner of an apartment in CT1 since 2006. We often read this forum.
We have had email conversation with Memon (which is Shaikhani Group of Companies now). They promissed CT1 will be completed April 2010. This is impossible, so we are concerned to.

[ardenburgboston]

We have just spoken to Memon who had previously given us an absolute assurance that CT1 would be complete by end of 2009 and yet today they have given another new date which is end of 2010!! This new completion date is by the same person who gave the previous date, this is now approx the eighth completion date we have rec'd from Memon and yet they still expect us to believe them.

[MikeMuz]

Originally Posted by ardenburgboston

We have just spoken to Memon who had previously given us an absolute assurance that CT1 would be complete by end of 2009 and yet today they have given another new date which is end of 2010!! This new completion date is by the same person who gave the previous date, this is now approx the eighth completion date we have rec'd from Memon and yet they still expect us to believe them.

They (Memon) or what ever they are now called.??? told me that CT2 will be completed June 2010
Well it may be June, but not this year.!! I now take there promises with a pinch of salt so I can't be dissapointed every time they change it.!!

[mb1612]

as i posted on 8th Jan Memon sent me a payment plan leading up to the end of 2010 so expect the development to complete middle to late 2011
Jq1798 posted about 1 year ago stating this.
I have had the completion date change about 8 times before too
Some people on this forum don't seem to mind though!

[smith11]

Originally Posted by mb1612

as i posted on 8th Jan Memon sent me a payment plan leading up to the end of 2010 so expect the development to complete middle to late 2011
Jq1798 posted about 1 year ago stating this.
I have had the completion date change about 8 times before too
Some people on this forum don't seem to mind though!

I am not worried about the completion date as far as they are moving. Most of us have not paid also, and if they progress fast, are we all ready to pay accordingly. No for sure many of of not. And at this moment, no need to hurry, as market itself is slow and it will be very difficult to sell the units who are unable to pay and they may face cancellation. We have to think in general and not individual. I have enough funds to pay, but I am not in hurry for delivery, as my intention was to sell it of, and at this moment there is no buyer for off plant properties.

[jq1798]

Hi -Has anyone recently been asked to pay more money towards their apartment with a revised payment plan leading up to December 2010?
I've paid 85% and in view with the completion date being late 2011 i think i've paid enough.
Has anyone been unwise like me to pay so much?

[tysonM]

Originally Posted by jq1798

Hi -Has anyone recently been asked to pay more money towards their apartment with a revised payment plan leading up to December 2010?
I've paid 85% and in view with the completion date being late 2011 i think i've paid enough.
Has anyone been unwise like me to pay so much?

Sorry to say that I consider you a fool, if you have paid 85%, then why are you informing others.trying creat fuss of your own investment. I would have asked others to pay also as you did, and if all of pays then there is no such thing that developer delays or cancel the project. Memon is enjoying with good reputation, and at this moment even giant companies and even countries with huge reserves bursted, if we will not help our developers who are working for us to deliver our properties then who will help them, instead we fools making blogs and grouping to go against them. I have seen non of the developer likes groups against them, and they never co-operates those with the groups even RERA don't like it, this is Dubai and here they don't like grouping etc. All the developer welcomes individuals who are willing to pay. As our deal with them is to pay, and their's is to deliver the properties. All of us 90% are on default. So out of 100% if only 10% pays, then how the hell they delivers the properties. And with your such statements those on defaults who only paid 30 or 40 percent will take advange of it. I am sorry for such statments, but I don't mean it friend.

[pal78]

Originally Posted by tysonM

Memon is enjoying with good reputation

Not true.... any independant source to support thal false assumption ?

Originally Posted by tysonM

As our deal with them is to pay, and their's is to deliver the properties

Correct sentence should be "As our deal with them is to pay, and their's is to deliver the properties on time"

[jq1798]

mtyson -do you work for memon?
I purchased the apartment with a completion date of December 2008 written in the contract
As pal78 said - we pay they deliver
If we knew this development was going to be so late alot of people wouldn't have purchased and instead purchased a project which has been completed and have rented or sold it by now

[amplesou]

Originally Posted by Imre

Press Release

Memon Investments announces rapid construction progress on AED 75 million ‘Champions Tower I’

UAE-based Majed Hilal Contracting heads main construction works on the entire project

February 18, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has announced the rapid progress in the construction of ‘Champions Tower I’, after having already completed six of the building’s 15 floors. UAE-based Majed Hilal Contracting is heading the main construction works on the AED 75 million residential tower. With construction in full swing, the developer has also revealed that it is on track to hit the tower’s delivery deadline scheduled for handover by the end of 2009.

‘Champions Tower I’ marked Memon Investments’ foray into the real estate sector in the region, and was also one of the first projects within ‘Dubai Sports City’. Leveraging its strong relationship with top construction companies in the region, the developer has also appointed Dubai Architectural Research Team International (DARTIN) to assume the role of design and project management consultant, and Shanghai & Arabian Electromechanical LLC (SAE) to deliver and install three high-speed Shanghai Mitsubishi elevators. Furthermore, sizeable contracts have also been recently awarded to HI-TECH Electro Mechanical Contracting Est. who will supply YORK air-conditioners within the project.

“We are focused on establishing a distinct trend of excellence and quality for all the projects within the ‘Champions Tower’ series, and we will achieve this by ensuring that the first tower will create new benchmarks for other residential developments in terms of design and facilities,” said Rizwan Shaikhani, Joint Managing Director, Memon Investments. “We are also committed towards hitting the delivery date we have set for this project, and we are confident that we will be able to do this with our partnership with an esteemed selection of contractors, suppliers and design professionals.”

‘Champions Tower I’ will offer a total of 135 luxury residential units ranging from studios, one-, two-, and three-bedroom apartments, and a penthouse. Located within Dubai Sports City, the tower offers an unparalleled range of activities for the family within the secure and gated community of DSC. In addition to modern housing units, the tower will also incorporate a large swimming pool, spa, sauna and Jacuzzi, fully equipped state-of-the-art gymnasiums, basement parking, 24-hour security, and an indoor games room. The tower will also provide its residents access to world-class facilities within the master development, including schools, parks, mosques, sports, entertainment and recreation facilities.

“Our partnership with leading organisations within the construction sector underlines our commitment to quality, which is one of the primary drivers of our growth. Our capacity to identify and form strategic alliances has enabled us to streamline the construction process, thereby allowing us to deliver our promises to our customers. We are definitely looking forward to the completion and handover of units within ‘Champions Tower I’ to new homeowners,” concluded Shaikhani.

Does anybody remember this !±

[tysonM]

Originally Posted by jq1798

mtyson -do you work for memon?
I purchased the apartment with a completion date of December 2008 written in the contract
As pal78 said - we pay they deliver
If we knew this development was going to be so late alot of people wouldn't have purchased and instead purchased a project which has been completed and have rented or sold it by now

How many of us paid on time ?? not even 10%. I know well, I had a long meeting with them, and then only I am talking about it. Market is bad and now everybody is out talking about it. If they are bad, then how come they sold so many projects. IT CLEARLY MEANS that market was good and people were purchasing and selling those papers on premium. and now market is bad and so looking for excuses to get back atleast the original amount. am I right.? This is the fact dear friends. Don't try to be fool, just accept the fact. Further there is no way you can get money back. Here nobody know the rules of off plan properties. This is the internation law.

[tysonM]

Originally Posted by pal78

Not true.... any independant source to support thal false assumption ?

Correct sentence should be "As our deal with them is to pay, and their's is to deliver the properties on time"

If not enjoying good reputation, then why you invested your money. Even you buy a used car worth $10,000/- you first check it, then prepare the Bankers cheque and only hand over to the seller after you get the transfered to you name. And here you paid huge amount to the person with bad reputation, and if so, then better blame yourself rather then others.
NOWHERE IN THE WORLD OFF PLAN PROPERTIES GUARANTEED.

[Rob Timpie]

Well well Tyson,

So you're the one who checked it all...
Then I'm sure you can mention us (only) one of the many projects (worldwide) that has been build and delivered by Memon...?

[ml7127]

Has anyone else received the following email from Memon:

Greetings from Memon..!!!

This is our 4th reminder to our recent letters wherein, for your perusal and records, we provided you with the Pre-Registration and Electrical Utility charges in line with RERA.

Have people paid these charges? Are they withholding payment till a later date?

[tysonM]

Originally Posted by ml7127

Has anyone else received the following email from Memon:

Greetings from Memon..!!!

This is our 4th reminder to our recent letters wherein, for your perusal and records, we provided you with the Pre-Registration and Electrical Utility charges in line with RERA.

Have people paid these charges? Are they withholding payment till a later date?

Don't fool yourself by asking on these blogs, you pay or not nothing concern, end of the day we have to pay. This is not new. Why asking each and every questions on sites. Any amount requested by the developer is always backed by some legal support. You can ask them directly for any queries.
We have just paid for the same at the time of getting possession for my apartments in JLT. We delayed payments by groups, but later we were unable to get the possession becuase developer could not get the electricity. We even went to all concerned departments, to avoid the electric registration charges etc., but end of the day we have to pay. Even in international city also. RERA is right after all the developers so they cannot ask for any amount.

[Rob Timpie]

Originally Posted by Rob Timpie

Well well Tyson,

So you're the one who checked it all...
Then I'm sure you can mention us (only) one of the many projects (worldwide) that has been build and delivered by Memon...?

He Tyson,

Still no answer to this one ...?