The DAMAC thread ... - Page 65

verjan · June 15th, 2012, 05:23 AM

Quote:

Originally Posted by desertrat

Yes, you are correct. I too have allowed the bank to release 80% of my payment. Do we have any recourse in getting out of this contract and getting our money back?

I don't think it is possible to get out of the contract , but I would suggest you write to Damac and ask when Oceanscape will be completed and how much compensation you will get.
Anyone who has bought an apartment in Oceanscape should start sending question to Damac and put some pressure on those liars

redjay22 · June 26th, 2012, 03:44 PM

Damac have sent an email to all owners of lago Vista threatening to start withdrawing essential services due to unpaid service charges.

This does seem ridiculous to those who have paid!

Can't they just take some action against non paying individuals and or legal action?

d3itemsale · August 29th, 2012, 06:41 AM

At Diablo 3 maybe you are enjoy your game now , so are you happay? What Diablo 3 powerleveling do you get now?If your D3 powerleveling cannot get what do you want,what will you do?Yeah, you must need some Diablo 3 gold,D3itemsale can service to you the cheapest D3 gold ,so join us .

4everdreamin · September 3rd, 2012, 07:48 PM

Hi someone a few months back mentioned possibly starting a lawsuit against Damac regarding the unbelievably delayed delivery of Oceanscape - now over 3 years and still not complete or even close. Has thee been any developments?

firoz bharmal · November 10th, 2012, 10:05 AM

LeagelFighter · November 12th, 2012, 04:30 PM

I have invested in 2006 and completion date was
36 months.(sep 2009). I have paid 40% and has not signed new contract. I am interested to join for getting right discount/compensation for the delay. 3.5 years rent + interest for period of delay. Please contact if anyone in same boat. tamweelipo at rediffmail dot com

desertrat · November 15th, 2012, 10:59 PM

Has anyone heard anything new about the completion date? Is it still May 2013? I too would like to ensure that we get our due compensation. Anyone have any idea's ? Huge mistake on my part buying into this property....Thieves !!

verjan · November 25th, 2012, 11:29 AM

It seems that completion date will be May 2012 , and now compensation , probably the best way is to act as a group , I don't know now how to get all people together , let's keep in contact.
It seems also that the sizes of the apartments are not according the contract , when smaller than 3% you have also right for compensation.
And it seems that the quality of the materials is not as described in the contract , but that will be more difficult to proof.
Damac has built a very bad reputation as it comes to care about its investors , still cannot understand why people keep buying their properties.
If I would have known before I never would have put my money in this company

verjan · November 25th, 2012, 11:33 AM

How can you have payed only 40% , you are behind the payment schedule , Damac will charge you penalties for late payments , and they are based on 24% yearly , this will cost you money .
You better contact Damac about an update of your payments , they won't tell you without asking because thats how they make also money.
But their compensation penalty is only around 1% per year , Thiefs

PropertySolution · January 8th, 2013, 11:54 AM

please share the problems with Park Towers DIFC project and any others. We are compiling multiple cases of investors being cheated and misled by Damac's team acting like a well organized gang. We can advise you on their regular tricks and how to protect yourself in case of current purchasing process!

PropertySolution · January 8th, 2013, 11:57 AM

Damac pays the highest commissions to agents, and many agents do not care. It is an easy transaction process and high reward. Its as simple as it is !

PropertySolution · January 8th, 2013, 11:57 AM

5% is acceptable diviasion

***Parisian Girl*** · January 24th, 2013, 02:05 AM

Quote:

Hadeel al Sayegh | Jan 24, 2013

Damac has entered into a bidding war with Abu Dhabi Capital Management to win control of the London-listed luxury property developer Northacre.

http://www.thenational.ae/thenationa...-for-northacre

***Parisian Girl*** · February 11th, 2013, 01:16 AM

Quote:

by Michael Fahy on Feb 10, 2013

Dubai-based developer Damac has launched two new projects in Dubai and Riyadh worth over $550m (AED: 2bn).

http://www.constructionweekonline.co.../#.URg2z6VRX3U

unknownpleasures · February 11th, 2013, 02:51 AM

Quote:

DAMAC Properties has announced its first major new product launch since 2008, with 295 premium serviced hotel apartments in the Burj Area.
New industry contacts

'The Distinction' will be a 195 metre, 53-storey, iconic tower overlooking the platinum real estate in the heart of Dubai, with enviable views of the fountain, mall and world's largest tower.

http://www.ameinfo.com/damac-propert...inction-322779

http://www.damacproperties.com/en/pr...stinction.html

http://www.damacproperties.com/en/pr...stinction.html

4everdreamin · February 12th, 2013, 12:32 PM

Hi Verjan
Why anyone buys from DAMAC and yet they still keep building!!!
Compensation will be almost nothing, and no compensation for size variation either?
Do you know completion date yet..... don't think it will be May?

***Parisian Girl*** · March 6th, 2013, 11:41 PM

Quote:

by Michael Fahy on Mar 6, 2013

Developer Damac has unveiled plans for a $1bn five-star hotel and branded serviced apartments within the Downtown Dubai area.

http://www.constructionweekonline.co.../#.UTfEVRyFUfY

verjan · March 19th, 2013, 07:49 AM

Quote:

Originally Posted by 4everdreamin

Hi Verjan
Why anyone buys from DAMAC and yet they still keep building!!!
Compensation will be almost nothing, and no compensation for size variation either?
Do you know completion date yet..... don't think it will be May?

According to Damac completion date will be July 2013 , but don't count on it , how many times Damac mislead their customers .

I have big concerns about the quality of the apartments , Damac tried to save money on the materials by using 2e grade quality.

According to Damac Oceanscape supposed to have floor till ceiling windows all around , now they reduced the amount of glass by using cheap panels
Also the size of the apartment will be different , smaller than in the contract.

It was 2006 when I signed the contract and 7 years later Damac is going to deliver the apartments , you can imagine how much interest I could have got on my investment in those 7 years .

I worry also about the service cost , for sure Damac will try to make some money out of this to compensate the money they have to pay for late delivery.

chefdude · March 20th, 2013, 08:14 AM

Quote:

Originally Posted by Parisian Girl

http://www.constructionweekonline.co.../#.UTfEVRyFUfY

Its the wrong side of Al Khail Road built over what was the old humanitarian city I think this location is a big mistake and access will be poor making car ownership a neccessity even to get to the Dubai Mall

***Parisian Girl*** · March 26th, 2013, 12:47 AM

Quote:

by Andy Sambridge on Mar 24, 2013

Dubai-based Damac Properties has announced plans to transform a plot of land on the seafront at Dubai Maritime City into a high-rise luxury tower of serviced hotel residences.

http://www.constructionweekonline.co.../#.UVDTSBxBJik

November 10th, 2012, 10:05 AM	#1285
firoz bharmal Registered User Join Date: Jul 2005 Location: Rajkot , Dubai..... Posts: 1,302 Likes (Received): 16	__________________ Waiting for Next Vacation......

November 15th, 2012, 10:59 PM	#1287
desertrat Registered User Join Date: May 2012 Posts: 5 Likes (Received): 0	Oceanscape Has anyone heard anything new about the completion date? Is it still May 2013? I too would like to ensure that we get our due compensation. Anyone have any idea's ? Huge mistake on my part buying into this property....Thieves !!

January 8th, 2013, 11:54 AM	#1290
PropertySolution Registered User Join Date: Jan 2013 Posts: 3 Likes (Received): 0	Damac's cheating please share the problems with Park Towers DIFC project and any others. We are compiling multiple cases of investors being cheated and misled by Damac's team acting like a well organized gang. We can advise you on their regular tricks and how to protect yourself in case of current purchasing process!

January 8th, 2013, 11:57 AM	#1291
PropertySolution Registered User Join Date: Jan 2013 Posts: 3 Likes (Received): 0	why people buy, why agents sell Damac pays the highest commissions to agents, and many agents do not care. It is an easy transaction process and high reward. Its as simple as it is !

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June 26th, 2012, 03:44 PM	#1282
redjay22 Registered User Join Date: Jan 2010 Posts: 32 Likes (Received): 0	Damac have sent an email to all owners of lago Vista threatening to start withdrawing essential services due to unpaid service charges. This does seem ridiculous to those who have paid! Can't they just take some action against non paying individuals and or legal action?

August 29th, 2012, 06:41 AM	#1283
d3itemsale Registered User Join Date: Aug 2012 Posts: 1 Likes (Received): 0	At Diablo 3 maybe you are enjoy your game now , so are you happay? What Diablo 3 powerleveling do you get now?If your D3 powerleveling cannot get what do you want,what will you do?Yeah, you must need some Diablo 3 gold,D3itemsale can service to you the cheapest D3 gold ,so join us .

September 3rd, 2012, 07:48 PM	#1284
4everdreamin Registered User Join Date: Apr 2011 Posts: 12 Likes (Received): 0	Hi someone a few months back mentioned possibly starting a lawsuit against Damac regarding the unbelievably delayed delivery of Oceanscape - now over 3 years and still not complete or even close. Has thee been any developments?

November 12th, 2012, 04:30 PM	#1286
LeagelFighter Registered User Join Date: Nov 2012 Posts: 1 Likes (Received): 0	I have invested in 2006 and completion date was 36 months.(sep 2009). I have paid 40% and has not signed new contract. I am interested to join for getting right discount/compensation for the delay. 3.5 years rent + interest for period of delay. Please contact if anyone in same boat. tamweelipo at rediffmail dot com

November 25th, 2012, 11:29 AM	#1288
verjan Registered User Join Date: Sep 2011 Posts: 10 Likes (Received): 0	It seems that completion date will be May 2012 , and now compensation , probably the best way is to act as a group , I don't know now how to get all people together , let's keep in contact. It seems also that the sizes of the apartments are not according the contract , when smaller than 3% you have also right for compensation. And it seems that the quality of the materials is not as described in the contract , but that will be more difficult to proof. Damac has built a very bad reputation as it comes to care about its investors , still cannot understand why people keep buying their properties. If I would have known before I never would have put my money in this company

November 25th, 2012, 11:33 AM	#1289
verjan Registered User Join Date: Sep 2011 Posts: 10 Likes (Received): 0	How can you have payed only 40% , you are behind the payment schedule , Damac will charge you penalties for late payments , and they are based on 24% yearly , this will cost you money . You better contact Damac about an update of your payments , they won't tell you without asking because thats how they make also money. But their compensation penalty is only around 1% per year , Thiefs

January 8th, 2013, 11:57 AM	#1292
PropertySolution Registered User Join Date: Jan 2013 Posts: 3 Likes (Received): 0	5% is acceptable diviasion

February 12th, 2013, 12:32 PM	#1296
4everdreamin Registered User Join Date: Apr 2011 Posts: 12 Likes (Received): 0	Hi Verjan Why anyone buys from DAMAC and yet they still keep building!!! Compensation will be almost nothing, and no compensation for size variation either? Do you know completion date yet..... don't think it will be May?