#ONHOLD: Umm Al Quwain: WHITE BAY

[bizzybonita]

White Bay villa tender to be awarded next month





Emirates Sunland Group (ESG), project managers for White Bay, a seaside community on the Umm Al Quwain coastline, has announced that a contract for developing villas will be awarded within the next month.

Construction of the villas will commence immediately after the contracts have been awarded, ESG added. Construction work at White Bay is already well under way with the site now completely surveyed. The first island and retainment walls have also started being built.

White Bay, a $3 billion (Dh11bn) project under development by Al Murjan Real Estate, is a master-planned residential community built around two islands.

Costas Alexandrou, Project Manager, said: "Umm Al Quwain is naturally beautiful, with White Bay offering residents luxury resort-style living with a community feel at an attractive price. The fact that White Bay is a only a 45 minute drive from central Dubai makes the development more appealing. Residents will have access to one of the most natural environments on the Arabian Gulf, while still being within range of the UAE's main business hub. A number of purchasers have already decided they will live in White Bay and commute to Dubai, while others have bought their property to use as a 'weekend retreat'."

The White Bay community will be built around a central marina, with the town centre facing the waterfront and flanked by two hotels offering views over the water and gardens. The community's waterfront villas will have direct access to the beach and overlook the canal leading to the marina, while the garden villas will overlook the public gardens and parks. Mid-rise apartments and townhouses will be set amongst the gardens.

Emirates Sunland Group is a joint venture between UAE-based Emirates Investments Group and Australia-based Sunland Group, which is developing several other projects in Dubai, including the world's second Palazzo Versace Hotel and D1 Tower, an 80-storey residential tower, both at Dubai Creek.

[Kairi]

UAQ

» White Bay villa tender to be awarded next month | 16 days ago - Emirates Business
Emirates Sunland Group (ESG), project managers for White Bay, a seaside community on the Umm Al Quwain coastline, has announced that a contract for developing villas will be awarded within the next month. Construction of the villas will commence immediately after the contracts have been [Full Text]

http://news.wadionline.com/index.php...ate&cat=estate

[laidback74]

Hi All,

Does anyone have any info as to what the problem is with getting financing in place for this project? Are any of the other UAQ projects financed or is it mainly an issue for all the projects there (I assume the Emaar Marina project has financing)?

[234sale]

[The-King]

[The-King]

31/10/08






Source: http://www.white-bay.com/community-dubai/media.htm

[josephny]

Any updates on construction? Are the show villas ready?

[laidback74]

Is anyone aware if the developer of White Bay will be passing on cost savings made through falling construction costs to the end users? Either through lowered prices of the purchased properties or other concessions?

Many developers in Dubai and Abu Dhabi are doing this and I was wondering if the same was being done here.

[biffer]

I’m a newcomer to the forum so please be patient whilst I get my act together!!

I have invested in an apartment in the Dunes Tides and Waves (Beachside) apartments. Unfortunately, there have been delays with the development to date, first phase was set for completion June/November 2009 but is now somewhat off schedule for one reason or another. Probably because of the size and nature of the project and of course the world‘s financial crisis doesn’t help! I would be happy to hear from anyone else who has invested in the same or other constructions in White Bay. Lets see if we can get this forum rolling along a bit more and generate some lively interest and enthusiasm!! I look forward to a reply.

[seabreeze4]

Hi, we also purchased in White Bay. Hard to say what will happen with them. Lot's of "news" on Emirates Sunland lately. One or more employees being questioned (detained?) by police, write downs in company... now I am getting nervous. I wish they were at least covered by RERA. I am going to drive up to UAQ again soon and see for myself what is happening. Last time I checked (Jan) they were working on infrastructure only. Hope there is some money left in the pot for our apartments/villas! We have way too much money invested in this not to be concerned! Anybody else out there concerned?

[The-King]

I think there is nothing to worry about, check the homepage there are tons of new updates from March. Of course there are delays and you need to consider that infrastructure takes some time to complete.
http://www.white-bay.com/community-dubai/media.htm

[biffer]

Hello seabreeze4

It’s good to know that someone else has bought into White Bay!! Which part of the development did you invest in??

I have, right from when I signed up for an apartment in November 2007, been very upbeat about this development. It looks classy and if the final version resembles the completed images posted, then it will have been worth the wait. But how long we have to wait no one really seems to know, which is disconcerting. Although, I have been informed that by June a completion date for first stage of Beachside apartments should be available. Let’s wait and see!!

I can only imagine that as UAQ is a blank canvas, just a few buildings dotted about here and there that the infrastructure programme is a necessary and important part of the initial development, before any such construction work can commence. (By way of contrast Dubai is already heavily developed and much speedier building work can take place). But what I don’t understand is why this wasn’t factored into the overall time frame of the development. I have been told that the infrastructure should be completed by last quarter 2009, but then again my apartment was supposed to be completed by then. So here’s hoping!!!

I do take your point about having enough money in the pot for building work but surely this is factored into the purchase price!! Also, I think I read somewhere that the infrastructure programme has been heavily subsidised by the UAQ authorities.

I didn’t know the news about Emirates Sunland though. They are considered to be a very reputable company with a good track record – so I’m hoping that this is just a temporary blip!!

Please let me know the outcome when you drive up to UAQ would love to hear how it’s going or not as the case may be!! I think we just have to remain optimistic at this stage.

Also thanks to The-King for the link. There are some great photos here but they haven’t added any new ones for some time!!

[biffer]

Hi

Anyone got any news about this development. Everything seems to have gone awfully quiet on this project. No progress reports, no recent photos, no nothing!! Any information would be greatly appreciated.

Thanks!

[wt]

Hello All,

I bought with the First Group in Beachside apartments. Supposed to be delivered about NOW!

2 weeks ago they contacted me wanting me to buy a MUCH more expensive apartment in Dubailand because they claim that Emirates Sunland has an ongoing dispute with the government about ownership of the land!
They claim that the project is indefinately delayed and may not go ahead in the shape that it currently has.

Emirates Sunland says everything is OK.

Anyone know any more about this?

Seem to be many parallels to Al Salaam city to me...

[Bobdown]

I too got the same phone call from First Group and they also wanted me to switch to a much more expensive project. I asked about Beachside and was told that building is still going on however only on the infrastructure for the whole project, they have not started and don't know when the build of the apartments will start, First Group could not get a completion date ether so clearly they are wanting all there clients to pull out of Beachside and switch to something else.

[beer51]

If the other project you are offered i would take it but tell them at the same price if not cheaper. Bear in mind prices in Dubai are at least about 25-30% cheaper.

[biffer]

Hi Guys

This is just confirming what I was already thinking! Although I have tried to remain optismistic and open minded.

I also had a phone call from The First Group, re problems with Beachside. I was told they could'nt give me a definitive answer on completion dates but said they should know more by June and that infrastructure should be completed by November 2009. I was also offered a more expensive alternative in Dubai but declined because it was three times more expensive than the one I have a contract for in Umm Al Quwain. I also understand that some of the investors in the development have now pulled out and invested in the alternative developments in Dubai. This is fine as long as you are in a financial position to do that.

This is just a mess and a worry!! I completely agree with Beer51. If there are options (alternatives) to be had in Dubai then they should be offered at the same price we already agreed to.

I have already paid 74% of the phased payments which is leaving me with a debt that I am paying interest on without any assurances as to when construction will take place.

If there is a dispute on the land as wt mentioned then this could go on for years. What I dont understand is why these problems had not been addressed or discussed prior to the launch of the project. Would this not be the normal course of events??

Anyone else got the same problem?

[marksageeza]

you should check out the la hoya bay link, we went through something similar, grouped together and looks like we've got the RAK government to listen to us and have decided to step in... just an idea for you guys but have no idea what the deal is in umm al quwain??

[Bobdown]

I think I am going to look at opting out all together, if that is possible.

[biffer]

Originally Posted by Bobdown

I think I am going to look at opting out all together, if that is possible.

Hi Bobdown

I wanted to do the same thing and just take back my money - I dont know how this is now but a few weeks ago I was told this was not an option as the project has not been cancelled. As I say things could have changed since then, not been in contact with the First Group recently. If you decide to go down this road let me know how you get on.

I am going to look into the situation more over the weekend.

Just as an after thought though, if there is a dispute of land ownership this is confusing. If you look right at the beginning of this thread, back in 2006 agreements were signed for the White Bay project, surely the land in question was looked at closely in this agreement. If there were any doubts about land ownership this should have been sorted out then. I am aware that the land in Umm Al Quwain, as far as I know, is leasehold so we as investors would never own the freehold title unless laws were changed. (Unless you are a UAE citizen). So is this a dispute over ownership of the land to build on or ownership of the land after the build? Things just do not add up here and more information is needed.