#ONHOLD: Umm Al Quwain: WHITE BAY - Page 4

biffer · May 3rd, 2009, 05:00 PM

Quote:

Originally Posted by Madgwick

have been informed that ther will be an announcement in next few weeks, sounded like everything was back on track, well at least proceeding with comp expected min end 2010 more likley beyond this time .were vague as to dates .
if this is true what about all the clients that jumped ship spending a lot more money on units in other developments?
well things could have have worked out very well for tfg.
we shall wait and see if ther is news in next 2 weeks or so.

Hello Madgwick

Thanks for your update.

Glad to know someone's got their finger on the pulse! Did the First Group contact you or you them? Did they offer any info as to why the delays have occured etc?

Would imagine investors who got out of Beachside decided they wanted a return on their investment earlier and probably not prepared to wait around for adverse situation to be resolved. Just a guess but they may well be big investors who can be flexible and able to switch at a higher price. If they are shrewd business investors they would'nt have taken the decision lightly!

Lets just hope that impending news remains good news!!

laidback74 · May 4th, 2009, 07:56 PM

Hi All,

I've received official word from the developer that the townhouses will be delivered by Nov 2010, with the remaining units delivered end of 2011. Not sure if this applies to the Beachfront units or if they'll be delivered earlier, but minimum delivery date is Nov 2010.

Also, no financing options are being provided to end users so I'm afraid they're not being terribly helpful in this regard. However, if you're having difficulty making the first 50% payment, they say they're willing to negotiate. I guess we have to contact them individually in this regard.

I'd like to ask: Does anyone have any concerns regarding the price of WhiteBay? Does the average price of AED700/sq ft seem feasible for a development in Umm Al Quwain?

I'd love to get some feedback.

biffer · May 4th, 2009, 11:03 PM

Quote:

Originally Posted by laidback74

Hi All,

I've received official word from the developer that the townhouses will be delivered by Nov 2010, with the remaining units delivered end of 2011. Not sure if this applies to the Beachfront units or if they'll be delivered earlier, but minimum delivery date is Nov 2010.

Also, no financing options are being provided to end users so I'm afraid they're not being terribly helpful in this regard. However, if you're having difficulty making the first 50% payment, they say they're willing to negotiate. I guess we have to contact them individually in this regard.

I'd like to ask: Does anyone have any concerns regarding the price of WhiteBay? Does the average price of AED700/sq ft seem feasible for a development in Umm Al Quwain?

I'd love to get some feedback.

Hi laidback74

Thanks for the information re time scales.

Not sure how much the units are selling for currently but when I purchased my apartment back in November 2007 (paid 74% so far remaining 26% on completion) I paid approximately AED710/sq ft. That was at the pre launch prices then.

Hard to say what they are now have not researched it.

wt · May 12th, 2009, 01:20 PM

Two options as far as I'm concerned; deliver the apartment or refund the money. Have to keep watching them though.
I'm sure everyone else has the same problems that everyone else does; too much at work, and the time slips by on my own investments.
At the moment neither Emirates Sunland nor the First Group are answering any of my questions.
Have repeatedly requested tfg for documentation of the cause of the delay but they do not even acknowledge that they have received the emails.

EM · May 13th, 2009, 01:15 AM

Hi everyone I have just registered, after reading some of the problems concerning the Beachside apartments.
I too purchased an apartment in 2007, initially it was to be made available in the 1st quarter 2009, when I first chased up for any updates I was told the apartment would be ready in the 4th quarter of 2009!

After receiving an email a couple of months ago asking for another instalment of money towards my payment, I decided to phone for any sort of update.
I was told there should be news in August...unsatisfied with this I enquired about cancelling the purchase, I was told I could transfer to the Metro Central at around three times the cost of Beachside.
I was not willing to do so and asked if I could have my money back, the reply was I could have my money back once the property was resold at a cost of 30% of total value!!! Jokers.

Madgwick · May 13th, 2009, 03:01 AM

hello and welcome ,i too was offered metro and every other fg development all at more money, im not the kind of chap to mince words when it gets down to it,i had some very heated conversations to say the least.re the 30%?are they saying if you want to sell now that you incurr this if they can resell it or at any time?
does anybody on this forum know how we can have private conversations , if you do then please reply

EM · May 13th, 2009, 04:49 AM

I know what you are saying, we seem to be left guessing..Ref the 30% penalty, below is the quote I recieved by email by an individual with some reasonable position in the First Group.
My concern is they promise the development ready on a specific date but don't deliver, this will mean they get my next installment with nothing in return but broken promises.

"What I can do at this stage is look at delaying your next payment until August, then followed by another payment on completion. By August we should have a much clearer picture of where we sit.

Regarding canceling, just for clarity, you lose 30% of the contract price if you walk away, not 30% of what you have paid. i.e. if you were to terminate you lose *******AED"

wt · May 13th, 2009, 04:01 PM

Hello all,
looks like we all have about the same payment schedule anyway.
Mine is 55% paid now, 20% due and 25% on delivery. I have told tfg I will not be paying any more installments until they have a firm delivery date for me, and I will pay the installment 3 months before delivery as planned in the payment schedule and not before that.

Interesting to see that they are now saying that they will be going ahead with the development, or at least, that they will 'Have a much clearer view in August.'
Also interesting that they say in the email that they would resell the apartment if (at the cost of 30% to us! Sharks!). So they must be intending to have apartments to sell, I imagine?
I would put my email out on the website but don't want any prowler from tfg to know who I am just yet!
Will see if I can come up with any more info soon but no-one is talking to me at present.

Bobdown · May 24th, 2009, 10:12 AM

A few days ago I got another call from F.G. telling me that they still have no date for completion of my apartment, or in fact they didn't even have a date when construction would start. I was told that most of there investers had now pulled out of Beachside and they were offering "Amazing deals" to try and get the rest to change. They were supposed to phone back later that day with details of the amazing deal but didn't. Has anyone else been offered an amazing deal? I can't help being a skeptic though. Could it be that F.G will be liable for compensation or refunds and want to move as many investors as they can before the flood gates open??

inquirer · May 24th, 2009, 04:03 PM

I bought in Beachside and have paid more than 50% of the cost of the appartment so far. I am constantly getting calls from the First Group offering me appartments in Dubai which I believe are overpriced, they claim that they have "concerns" over the project and are uncertain regarding the length of time the developers will finish. Lately I received a call from the First Group saying that alcohol might not be sold in Umm ALquwain or the Beachside project. I believe we should group up and consider legal action against the First Group and try to get our money back.

Madgwick · May 26th, 2009, 02:16 AM

where has everybody gone?

stewartfox · May 26th, 2009, 02:00 PM

I have invested in Beachside (dunes) with The First Group, they called to discuss options and I'm pretty sure I'll go ahead and switch in to another of their developments.

They seem firm on the fact it wasn't their delay but Sunland causing the problem - some of the other's they seem to be developing themselves not through another party – they all seem to be on schedule with construction updates I saw on their monthly emails, do you guys get that? I've heard some stories lately of people loosing money in Dubai so I'm just glad I can get out of this and in to something else, I can't wait indefinitely.

It will be interesting to see their first development finished (not in umm al quwain), looking at their site it's pretty close - I'm flying out there in a few weeks and will ask for a site visit and report back.

I agree with Biffer, I don't think The First Group are trying to stitch us here, does anyone know why the picture will be clearer in August? Nobody seems to be able to answer that?

EM · May 27th, 2009, 01:01 PM

I have spoken to someone last week, and they are setting up meetings in London in the begining of June, not sure if anyone else has been approached or even what the topic of conversation will be.
I was told there will be people over from the beachside resort, so hopefully might get some upto date information back.

Collectively we will require to find out how long by contract do we wait before we see any progress, I cannot find anything in my contract.
Personally I would like to get the 55% I have paid to the First Group back, as the apartment should have been available to me by now.
The First Group are suspiciously quiet surrounding the project and I feel everything is out of there hands at the momment.

wt · May 27th, 2009, 04:51 PM

Hello All,
I have not received ANY communication from tfg since my last email requesting substantial information about the delay in construction of Beachside.
They have apparently given up on offering me alternatives.
I am very skeptical about their claims that 'most of the owners of Beachside' have bought into one of their other developments. They have been claiming this to me since February!

inquirer · May 27th, 2009, 05:26 PM

I think we should all meet in Dubai in order to discuss further steps and action to be taken, I think we should consult a lawfirm and decide from there but we have to do this very soon, I believe the prices for the appartments they are offering in Dubai is quite high and overpriced. Do not fall into this trap!!!!!

chriskearney1 · May 29th, 2009, 11:16 PM

I have had extensive email exchanges with tfg recently. can you post your email address to communicate better and update each other? mine is christopher.kearney@acs-inc.com
i was told project is delayed with a completion date of 2014 or 2015. development will also be 'dry'. was offered similar deals for other much more expensive projects. was told 'almost all' beachside investors have moved onto other tfg projects. that seems to be a gross exaggeration.

Adam2008 · May 31st, 2009, 10:55 PM

Hi All, I have read most of your comments on this forum and it seems it is time to meet all together and jointly talk to TFG in one voice. I have bought 3 apartments in Beach Side (Tides) and I have been getting calls from the TFG to switch to their Dubai projects which are extremely over priced. Imagine they are offering me a 1 bedroom in one of their projects (700 sqft) for 2.1M Dirhams which is at least double of any offer you can get in the market nowadays. I also noticed that they are focusing in their calls on people living outside UAE as they usually do not have the clear picture of the market rates in Dubai and easier to convince.
I strongly believe there is something fishy going on. The last call I had from them was 3 weeks ago and after refusing their ridiculous offer they said that the beach side project will not stop but no idea on when it will be delivered.
For people living outside UAE, be careful not to fall in the trap of TFG. I believe that to have a fair deal the prices they are offering for the switch should be at least half of the value they are asking. Let me know if any of you are willing to meet and discuss this issue and to take actions cause nobody knows where our money is and whether there will be a day that we will get it back. I guess that TFG as 99% of small developers in UAE are in trouble and who know when they will disappear. Has anyone asked about their financial statements recently and why they have removed the Beachside project from their website if it still exists as a project.

chriskearney1 · June 1st, 2009, 12:59 AM

I am all for forming a group in dealing with tfg. my email address is two posts above. can others please post their email address so that we can communicate directly.

Adam2008 · June 1st, 2009, 12:08 PM

I spoke to Sunland group today, and when I asked if there are any problems between them and TFG they mentioned the following: " We don't why TFG are doing this, but what we can say that the construction is going there at full speed." you can contact Emirates Sunland Group @ +97143320226.

stewartfox · June 8th, 2009, 09:29 AM

OK, I have spoken again to somebody at TFG, they still don't seem clear on what's happening and having read so much conflicting information here I'm going ahead and switching to a unit in Sports City, all seems too uncertain with Beachside and I can't wait forever to see some returns.

I had a good look through the contract too and it doesn't actually seem like there are any get out clauses, which wasn't really a surprise! Anyone else had a look? What is everyone else doing, are you going to stick with Beachside?

May 12th, 2009, 01:20 PM	#64
wt Registered User Join Date: Apr 2009 Posts: 7 Likes (Received): 0	beachside Two options as far as I'm concerned; deliver the apartment or refund the money. Have to keep watching them though. I'm sure everyone else has the same problems that everyone else does; too much at work, and the time slips by on my own investments. At the moment neither Emirates Sunland nor the First Group are answering any of my questions. Have repeatedly requested tfg for documentation of the cause of the delay but they do not even acknowledge that they have received the emails.

May 13th, 2009, 01:15 AM	#65
EM Registered User Join Date: May 2009 Posts: 21 Likes (Received): 0	Beachside Hi everyone I have just registered, after reading some of the problems concerning the Beachside apartments. I too purchased an apartment in 2007, initially it was to be made available in the 1st quarter 2009, when I first chased up for any updates I was told the apartment would be ready in the 4th quarter of 2009! After receiving an email a couple of months ago asking for another instalment of money towards my payment, I decided to phone for any sort of update. I was told there should be news in August...unsatisfied with this I enquired about cancelling the purchase, I was told I could transfer to the Metro Central at around three times the cost of Beachside. I was not willing to do so and asked if I could have my money back, the reply was I could have my money back once the property was resold at a cost of 30% of total value!!! Jokers.

May 13th, 2009, 03:01 AM	#66
Madgwick Registered User Join Date: Jan 2009 Posts: 8 Likes (Received): 0	30% madgwick hello and welcome ,i too was offered metro and every other fg development all at more money, im not the kind of chap to mince words when it gets down to it,i had some very heated conversations to say the least.re the 30%?are they saying if you want to sell now that you incurr this if they can resell it or at any time? does anybody on this forum know how we can have private conversations , if you do then please reply

May 13th, 2009, 04:49 AM	#67
EM Registered User Join Date: May 2009 Posts: 21 Likes (Received): 0	Madgwick I know what you are saying, we seem to be left guessing..Ref the 30% penalty, below is the quote I recieved by email by an individual with some reasonable position in the First Group. My concern is they promise the development ready on a specific date but don't deliver, this will mean they get my next installment with nothing in return but broken promises. "What I can do at this stage is look at delaying your next payment until August, then followed by another payment on completion. By August we should have a much clearer picture of where we sit. Regarding canceling, just for clarity, you lose 30% of the contract price if you walk away, not 30% of what you have paid. i.e. if you were to terminate you lose *******AED"

May 13th, 2009, 04:01 PM	#68
wt Registered User Join Date: Apr 2009 Posts: 7 Likes (Received): 0	beachside payments Hello all, looks like we all have about the same payment schedule anyway. Mine is 55% paid now, 20% due and 25% on delivery. I have told tfg I will not be paying any more installments until they have a firm delivery date for me, and I will pay the installment 3 months before delivery as planned in the payment schedule and not before that. Interesting to see that they are now saying that they will be going ahead with the development, or at least, that they will 'Have a much clearer view in August.' Also interesting that they say in the email that they would resell the apartment if (at the cost of 30% to us! Sharks!). So they must be intending to have apartments to sell, I imagine? I would put my email out on the website but don't want any prowler from tfg to know who I am just yet! Will see if I can come up with any more info soon but no-one is talking to me at present.

May 4th, 2009, 07:56 PM	#62
laidback74 Registered User Join Date: Sep 2008 Posts: 75 Likes (Received): 0	Hi All, I've received official word from the developer that the townhouses will be delivered by Nov 2010, with the remaining units delivered end of 2011. Not sure if this applies to the Beachfront units or if they'll be delivered earlier, but minimum delivery date is Nov 2010. Also, no financing options are being provided to end users so I'm afraid they're not being terribly helpful in this regard. However, if you're having difficulty making the first 50% payment, they say they're willing to negotiate. I guess we have to contact them individually in this regard. I'd like to ask: Does anyone have any concerns regarding the price of WhiteBay? Does the average price of AED700/sq ft seem feasible for a development in Umm Al Quwain? I'd love to get some feedback.

May 24th, 2009, 10:12 AM	#69
Bobdown Registered User Join Date: Apr 2009 Posts: 9 Likes (Received): 0	A few days ago I got another call from F.G. telling me that they still have no date for completion of my apartment, or in fact they didn't even have a date when construction would start. I was told that most of there investers had now pulled out of Beachside and they were offering "Amazing deals" to try and get the rest to change. They were supposed to phone back later that day with details of the amazing deal but didn't. Has anyone else been offered an amazing deal? I can't help being a skeptic though. Could it be that F.G will be liable for compensation or refunds and want to move as many investors as they can before the flood gates open??

May 24th, 2009, 04:03 PM	#70
inquirer Registered User Join Date: May 2009 Posts: 2 Likes (Received): 0	I bought in Beachside and have paid more than 50% of the cost of the appartment so far. I am constantly getting calls from the First Group offering me appartments in Dubai which I believe are overpriced, they claim that they have "concerns" over the project and are uncertain regarding the length of time the developers will finish. Lately I received a call from the First Group saying that alcohol might not be sold in Umm ALquwain or the Beachside project. I believe we should group up and consider legal action against the First Group and try to get our money back.

May 26th, 2009, 02:16 AM	#71
Madgwick Registered User Join Date: Jan 2009 Posts: 8 Likes (Received): 0	where has everybody gone?

May 26th, 2009, 02:00 PM	#72
stewartfox Registered User Join Date: May 2009 Posts: 2 Likes (Received): 0	I have invested in Beachside (dunes) with The First Group, they called to discuss options and I'm pretty sure I'll go ahead and switch in to another of their developments. They seem firm on the fact it wasn't their delay but Sunland causing the problem - some of the other's they seem to be developing themselves not through another party – they all seem to be on schedule with construction updates I saw on their monthly emails, do you guys get that? I've heard some stories lately of people loosing money in Dubai so I'm just glad I can get out of this and in to something else, I can't wait indefinitely. It will be interesting to see their first development finished (not in umm al quwain), looking at their site it's pretty close - I'm flying out there in a few weeks and will ask for a site visit and report back. I agree with Biffer, I don't think The First Group are trying to stitch us here, does anyone know why the picture will be clearer in August? Nobody seems to be able to answer that?

May 27th, 2009, 01:01 PM	#73
EM Registered User Join Date: May 2009 Posts: 21 Likes (Received): 0	I have spoken to someone last week, and they are setting up meetings in London in the begining of June, not sure if anyone else has been approached or even what the topic of conversation will be. I was told there will be people over from the beachside resort, so hopefully might get some upto date information back. Collectively we will require to find out how long by contract do we wait before we see any progress, I cannot find anything in my contract. Personally I would like to get the 55% I have paid to the First Group back, as the apartment should have been available to me by now. The First Group are suspiciously quiet surrounding the project and I feel everything is out of there hands at the momment.

May 27th, 2009, 04:51 PM	#74
wt Registered User Join Date: Apr 2009 Posts: 7 Likes (Received): 0	first group Hello All, I have not received ANY communication from tfg since my last email requesting substantial information about the delay in construction of Beachside. They have apparently given up on offering me alternatives. I am very skeptical about their claims that 'most of the owners of Beachside' have bought into one of their other developments. They have been claiming this to me since February!

May 27th, 2009, 05:26 PM	#75
inquirer Registered User Join Date: May 2009 Posts: 2 Likes (Received): 0	I think we should all meet in Dubai in order to discuss further steps and action to be taken, I think we should consult a lawfirm and decide from there but we have to do this very soon, I believe the prices for the appartments they are offering in Dubai is quite high and overpriced. Do not fall into this trap!!!!!

May 29th, 2009, 11:16 PM	#76
chriskearney1 plooty Join Date: May 2009 Posts: 33 Likes (Received): 0	First Group Update I have had extensive email exchanges with tfg recently. can you post your email address to communicate better and update each other? mine is christopher.kearney@acs-inc.com i was told project is delayed with a completion date of 2014 or 2015. development will also be 'dry'. was offered similar deals for other much more expensive projects. was told 'almost all' beachside investors have moved onto other tfg projects. that seems to be a gross exaggeration.

May 31st, 2009, 10:55 PM	#77
Adam2008 Registered User Join Date: Jan 2009 Posts: 10 Likes (Received): 0	Hi All, I have read most of your comments on this forum and it seems it is time to meet all together and jointly talk to TFG in one voice. I have bought 3 apartments in Beach Side (Tides) and I have been getting calls from the TFG to switch to their Dubai projects which are extremely over priced. Imagine they are offering me a 1 bedroom in one of their projects (700 sqft) for 2.1M Dirhams which is at least double of any offer you can get in the market nowadays. I also noticed that they are focusing in their calls on people living outside UAE as they usually do not have the clear picture of the market rates in Dubai and easier to convince. I strongly believe there is something fishy going on. The last call I had from them was 3 weeks ago and after refusing their ridiculous offer they said that the beach side project will not stop but no idea on when it will be delivered. For people living outside UAE, be careful not to fall in the trap of TFG. I believe that to have a fair deal the prices they are offering for the switch should be at least half of the value they are asking. Let me know if any of you are willing to meet and discuss this issue and to take actions cause nobody knows where our money is and whether there will be a day that we will get it back. I guess that TFG as 99% of small developers in UAE are in trouble and who know when they will disappear. Has anyone asked about their financial statements recently and why they have removed the Beachside project from their website if it still exists as a project.

June 1st, 2009, 12:59 AM	#78
chriskearney1 plooty Join Date: May 2009 Posts: 33 Likes (Received): 0	Beachside I am all for forming a group in dealing with tfg. my email address is two posts above. can others please post their email address so that we can communicate directly.

June 1st, 2009, 12:08 PM	#79
Adam2008 Registered User Join Date: Jan 2009 Posts: 10 Likes (Received): 0	I spoke to Sunland group today, and when I asked if there are any problems between them and TFG they mentioned the following: " We don't why TFG are doing this, but what we can say that the construction is going there at full speed." you can contact Emirates Sunland Group @ +97143320226.

June 8th, 2009, 09:29 AM	#80
stewartfox Registered User Join Date: May 2009 Posts: 2 Likes (Received): 0	OK, I have spoken again to somebody at TFG, they still don't seem clear on what's happening and having read so much conflicting information here I'm going ahead and switching to a unit in Sports City, all seems too uncertain with Beachside and I can't wait forever to see some returns. I had a good look through the contract too and it doesn't actually seem like there are any get out clauses, which wasn't really a surprise! Anyone else had a look? What is everyone else doing, are you going to stick with Beachside?

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