#ONHOLD: Umm Al Quwain: WHITE BAY - Page 6

MATEMAN · February 11th, 2010, 10:10 PM

Quote:

Originally Posted by MATEMAN

Any further up-date on this project, I did receive some photo's by courier from the Sunland group in December.

Received another up-date by courier today, photo's look similar to the information received in December. The only difference seems to be that some trees have been planted. Any other comments

Smergel · March 16th, 2010, 12:10 PM

Quote:

Originally Posted by MATEMAN

Received another up-date by courier today, photo's look similar to the information received in December. The only difference seems to be that some trees have been planted. Any other comments

I havent bought any apartments but I can tell you that my feeling is that they are not really working on the site. Every time I drive past I only see a few people and a few machines moving.

***bizzybonita*** · March 16th, 2010, 08:41 PM

2010 White Bay Construction Progress
March 2010:

http://www.white-bay.com/community-d...n-progress.htm

home_alone · June 29th, 2010, 05:19 PM

Any unhappy investors with Emirates Sunland group, please contact me. The developments are just not progressing as they should. I purchased a property here in 2007 still no where near completion!!!

email: emiratesunlandgroup@gmail.com

It seems these groups are the best way of moving forward!!!

LEt me know, if you have any further construction photos, please email them to me so i can send them to owners i am in contact with

home_alone · July 15th, 2010, 01:59 PM

Hi Guys,

Whitebay is still not really moving forward, get in touch.

I have had a few people contact me, we need to get a group together!!

Ekram · August 9th, 2010, 06:58 PM

Hi home alone ,

I have only registered now to this forum . I also bought a condo in White Bay and would like to know what really the situation is. I am living in Germany so I can´t really follow up the construction progress . Can we take any legal action against them to get our payments back?

izziere · August 15th, 2010, 06:43 PM

Quote:

Originally Posted by Ekram

Hi home alone ,

I have only registered now to this forum . I also bought a condo in White Bay and would like to know what really the situation is. I am living in Germany so I can´t really follow up the construction progress . Can we take any legal action against them to get our payments back?

Oh, man...

This doesn't look like it is ever going to get completed. I passed it today - land based features seem to have been completed, but nothing has changed here for MONTHS. About 18 months ago I flew over it, and it was as near to completion as it is today.

You need legal advice - PM the other investors on this site. If you cannot do this you should speak to your embassy in Dubai and they will provide a list of lawyers - but make sure you speak to a firm that has experience in UAQ. Good luck.

asal54 · October 15th, 2010, 03:21 PM

Dear Investors

I am an investor in the White Bay project and purchased a studio in 2007.

There has been significant delays on this project and during the past few months I have been trying to contact various parties to get an update, without any luck.

I even flew to Dubai earlier this month to enquire what was going on. I visited the Emirates Sunland show room at Gold and Diamond Park where I was refused entry to the show room. I was informed that Emirates Sunland were no longer involved in this project.

The information that I have found out is as follows:

1. Emirates Sunland have not been involved in this project for over 2 years (I was told this information by a HR Manager at Emirates Sunland). Feel free to contact the Emirates Sunland Group to confirm). Question - Why were investors not told about this?

2. It seems a company called Enshaa are now involved and acting as project managers.

3. The developer has not provided any feedback to investors recently about the current status of the project. Like me I have been requesting answers for 6 months!.

4. Luke Barnett is the Project Director and he has no answers and is under orders from the developer not to comment. This is a great concern for all investors if the Project Director does not know whats going on!.

5. I understand from Luke Barnett that the developer is currently involved in a dispute with contractors which they are trying to resolve.

I urge all investors to form a group and take legal action. This project is not going anywhere and we must try to recover our money!,

MATEMAN · October 24th, 2010, 07:49 PM

Quote:

Originally Posted by asal54

Dear Investors

I am an investor in the White Bay project and purchased a studio in 2007.

There has been significant delays on this project and during the past few months I have been trying to contact various parties to get an update, without any luck.

I even flew to Dubai earlier this month to enquire what was going on. I visited the Emirates Sunland show room at Gold and Diamond Park where I was refused entry to the show room. I was informed that Emirates Sunland were no longer involved in this project.

The information that I have found out is as follows:

1. Emirates Sunland have not been involved in this project for over 2 years (I was told this information by a HR Manager at Emirates Sunland). Feel free to contact the Emirates Sunland Group to confirm). Question - Why were investors not told about this?

2. It seems a company called Enshaa are now involved and acting as project managers.

3. The developer has not provided any feedback to investors recently about the current status of the project. Like me I have been requesting answers for 6 months!.

4. Luke Barnett is the Project Director and he has no answers and is under orders from the developer not to comment. This is a great concern for all investors if the Project Director does not know whats going on!.

5. I understand from Luke Barnett that the developer is currently involved in a dispute with contractors which they are trying to resolve.

I urge all investors to form a group and take legal action. This project is not going anywhere and we must try to recover our money!,

Yes, I agree we should do something. I also have contacted Sunland and the have confirmed that they are no longer the project manager. The problem is who do we contact ? The sales contract does state that if the development is not complete by ? we can request a refund. I live in the UK therefore, it is difficult to try and sort out. I would welcome any assistance.

asal54 · October 27th, 2010, 01:03 PM

MATEMAN - Luke Barnett is the Project Manager and he works for Enshaa. Hes been avoiding my calls for months and I finally managed to contact him earlier this month. Hes not helpful at all as hes under orders from the developer not to say much. Its crazy that there seems to be only one point of contact for the whole development.

We need to do something and form a group. You can try contacting Luke on 00971 504810382 (if he ever picks up his calls). Dont be surprised if he keeps coming up with the same B.S "sorry still dont have any update, but been told by developer that an annoucement is going to be made shortly"....RUBBISH!.

MATEMAN · October 27th, 2010, 08:04 PM

asal54 Yes, I have had the same response from Luke Barnett, waiting for an up-date from the developer. I agree we should form a group but their does not seem to much support.

NickvonH · October 29th, 2010, 06:06 PM

I am also an investor in WhiteBay. I am living in Germany. Is there any new information? If anybody would like to contact me, to form a group or something:
TobiasKrohn@web.de

asal54 · October 29th, 2010, 11:27 PM

I spoke to Luke Barnett this week and AGAIN same old BullSH**. No further news from the developer. There is some dispute which we are not fully aware off.

Also, I changelled Luke on the whether our funds were on escrow, he said they were but I purchased my studio back in 2007 when the law was not introduced. He said he was going to provide bank details of the escrow account so that I can confirm with the bank directly. STILL WAITING FOR THE BANK DETAILS.

Luke also confirmed that construction had stopped on White Bay. BAD SIGN INDEED.

All investors who have not posted on this forum for a while, WAKE UP TO THE REALITY THAT THIS PROJECT IS ON HOLD!.

Ducco · November 2nd, 2010, 11:02 AM

Drove by the White Bay development this morning and I can confirm work has completely stopped. The contractor has cleaned up the site intentionally as if preparing for a long wintersleep. It is not like they dropped everything and just left. The site camp is there but empty; perhaps a caretaker or manager as I saw one Landcruiser parked there.

Best of luck to those with exposure there.

I am not an investor in White Bay or any other project or property in the UAE

asal54 · November 13th, 2010, 10:07 PM

Still not heard from Luke Barnett who was going to email me details about the escrow account that had apparently been set up....hhhmmmmm. WHAT A FRAUD!!!

andrewflasmann · November 19th, 2010, 01:55 PM

Speaking to Luke Barnett is a complete waste of time , looks like this is going to be a long ride before any of this is sorted out. I checked in my contract that i Can demand for a refund no earlier then june 2011 so meanwhile there is not much option left but to wait and see, closer to june i will look for a decent lawyer maybe sue these shmucks for incompetency as well .

asal54 · November 23rd, 2010, 11:32 PM

LATEST UPDATE: I have very bad news. I received a letter from Luke Barnett (ive copied the whole letter below). The developer is in liquidation.

Al-Murjan Real Estate LLC
(Under Liquidation)
Court Liquidator / Ala Khzaie
Court Liquidator / Ahmed Elghandour
___________________________________________________________
Date : 2nd November, 2010
Ref. : 0003/1/2010
M/s : Emirates Sunland Project Management
Dear Sirs,
With reference to the White Bay Project in Umm Al-Quwain; please note the following:
Al-Murjan Real Estate LLC was founded between:

- His Highness Sheikh / Abdullah bin Rashid Al Mualla
- Al Khalijia Investments LLC

where each of whom owns 50% of the company's shares to develop the project.
The company started its activity and faced difficulties in the execution as the Department of Planning and Survey in Umm Al-Quwain has, without any justification, rejected to approve:

1- Activate the guarantee account.
2- Approve to divide the project's land.
3- Refused to sort and divide the project's land according to the main plan which has been submitted by the company and formally approved by the department.

This also comes in the time when nearly 50% of the buyers failed to pay the amounts due on them. This has affected the company's capability to obtain finance from banks despite the company, in light of the global economic crisis, has got the approval of the Mashreq Islamic Bank to finance the buyers. Also, the company's management has succeeded to obtain the finance from the main contractor to complete the project in return for mortgage of an unsold land to ensure the payment.

His Highness Sheikh Abdullah Bin Rashid Al Mualla has made a lawsuit against the company asking to dissolve and liquidate the company and to appoint court liquidators for the company to complete the liquidation process, and this was sentenced by the Sharjah Federal Court of First Instance and Ala Al Khazaie and Ahmed El Ghandour were appointed as court liquidators for the company to start the liquidation and to submit their report to the Court.

Attached to this letter:
* A copy of representation letter from Sharjah Federal Court of First Instance to Umm Al-Quwain Federal Court of First Instance.
* Attached letter of Umm Al-Quwain Federal Court of First Instance (the execution representative) to execute the judgment and record in the Economic Department in Umm Al-Quwain.
* A copy of the new commercial register from the Economic Department in Umm Al-Quwain.
Therefore, and in order to preserve the interests of the creditors of Al-Murjan Real Estate LLC (Under Liquidation), the buyers will be notified within 45 days of the date of the meeting for the creditors of the company, to register their names, the due debt and the supporting documents of that debt and currently the assets and liabilities of the company are being defined by the liquidators in order to present the liquidators.
Later, the liquidators will submit a plan or plans to settle these debts after validating that they are correct.

Therefore, please kindly inform the buyers about the content of this letter.
Please also note that:
The address of the liquidators is:
P.O. Box 4799 – Umm Al-Quwain – United Arab Emirates
Tel.: +971 6 766-6206
Fax: +971 6 766-6208
Yours Faithfully,
Ala Khazaie Ahmed El Ghandour
Court Liquidator Court Liquidator
(signed) (signed)

AjmanOwner · November 24th, 2010, 12:34 PM

What these MONKEYS who rule the Northern Emirates need to wake-up to , is that there are GOOD and BAD investors . The BAD will simple take a small financial hit, pick themselves up and move on to another "investment". The GOOD will suffer for a long time , loose hard earned cash, and not trust investing there money in "risky" places again.

***Parisian Girl*** · November 24th, 2010, 09:10 PM

FT report says two liquidators have been appointed

By Reuters | Published Wednesday, November 24, 2010

The insolvency case is filed in Sharjah. (SUPPLIED)

Al Murjan Real Estate, developer of a $3 billion housing project in Umm Al Quwain, has filed for bankruptcy after running into financial difficulties, the Financial Times reported on Wednesday.

The company filed for insolvency in Sharjah and two liquidators have been appointed, the FT reported, citing documents it had obtained, and cited lawyers saying that it was the first court-mandated bankruptcy of a distressed property project in the emirates.

Property buyers would likely find it difficult to recover downpayments they made on homes in the 8,000 home White Bay development, which Al Murjan had started to build in another emirate, Umm Al Quwain, the newspaper said

Emirates 24|7

JOENEM · November 24th, 2010, 09:19 PM

What about the escrow accounts?
Did they release allready all they transfered funds?

March 16th, 2010, 08:41 PM	#103
*bizzybonita* ĐЯ ฿฿ שίŧђ Ħīĝђ קΘฬξЯ Join Date: Jul 2006 Posts: 11,493 Likes (Received): 2	2010 White Bay Construction Progress March 2010: http://www.white-bay.com/community-d...n-progress.htm __________________ ฿ĪẐẐΫ ฿Ǿ₦ŦẪ 2013

November 24th, 2010, 09:10 PM	#119
*Parisian Girl* MONACO _ Côte d'Azur Join Date: Nov 2007 Location: PARIS - Monte Carlo - London Posts: 17,261 Likes (Received): 1016	Al Murjan files for bankruptcy FT report says two liquidators have been appointed By Reuters \| Published Wednesday, November 24, 2010 The insolvency case is filed in Sharjah. (SUPPLIED) Al Murjan Real Estate, developer of a $3 billion housing project in Umm Al Quwain, has filed for bankruptcy after running into financial difficulties, the Financial Times reported on Wednesday. The company filed for insolvency in Sharjah and two liquidators have been appointed, the FT reported, citing documents it had obtained, and cited lawyers saying that it was the first court-mandated bankruptcy of a distressed property project in the emirates. Property buyers would likely find it difficult to recover downpayments they made on homes in the 8,000 home White Bay development, which Al Murjan had started to build in another emirate, Umm Al Quwain, the newspaper said Emirates 24\|7 __________________ Je m'appelle Paris

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June 29th, 2010, 05:19 PM	#104
home_alone Registered User Join Date: Jun 2010 Posts: 4 Likes (Received): 0	Any unhappy investors with Emirates Sunland group, please contact me. The developments are just not progressing as they should. I purchased a property here in 2007 still no where near completion!!! email: emiratesunlandgroup@gmail.com It seems these groups are the best way of moving forward!!! LEt me know, if you have any further construction photos, please email them to me so i can send them to owners i am in contact with

July 15th, 2010, 01:59 PM	#105
home_alone Registered User Join Date: Jun 2010 Posts: 4 Likes (Received): 0	Hi Guys, Whitebay is still not really moving forward, get in touch. I have had a few people contact me, we need to get a group together!!

August 9th, 2010, 06:58 PM	#106
Ekram Registered User Join Date: Aug 2010 Posts: 8 Likes (Received): 0	Hi home alone , I have only registered now to this forum . I also bought a condo in White Bay and would like to know what really the situation is. I am living in Germany so I can´t really follow up the construction progress . Can we take any legal action against them to get our payments back?

October 15th, 2010, 03:21 PM	#108
asal54 Registered User Join Date: Oct 2010 Posts: 6 Likes (Received): 0	Dear Investors I am an investor in the White Bay project and purchased a studio in 2007. There has been significant delays on this project and during the past few months I have been trying to contact various parties to get an update, without any luck. I even flew to Dubai earlier this month to enquire what was going on. I visited the Emirates Sunland show room at Gold and Diamond Park where I was refused entry to the show room. I was informed that Emirates Sunland were no longer involved in this project. The information that I have found out is as follows: 1. Emirates Sunland have not been involved in this project for over 2 years (I was told this information by a HR Manager at Emirates Sunland). Feel free to contact the Emirates Sunland Group to confirm). Question - Why were investors not told about this? 2. It seems a company called Enshaa are now involved and acting as project managers. 3. The developer has not provided any feedback to investors recently about the current status of the project. Like me I have been requesting answers for 6 months!. 4. Luke Barnett is the Project Director and he has no answers and is under orders from the developer not to comment. This is a great concern for all investors if the Project Director does not know whats going on!. 5. I understand from Luke Barnett that the developer is currently involved in a dispute with contractors which they are trying to resolve. I urge all investors to form a group and take legal action. This project is not going anywhere and we must try to recover our money!,

October 27th, 2010, 01:03 PM	#110
asal54 Registered User Join Date: Oct 2010 Posts: 6 Likes (Received): 0	MATEMAN - Luke Barnett is the Project Manager and he works for Enshaa. Hes been avoiding my calls for months and I finally managed to contact him earlier this month. Hes not helpful at all as hes under orders from the developer not to say much. Its crazy that there seems to be only one point of contact for the whole development. We need to do something and form a group. You can try contacting Luke on 00971 504810382 (if he ever picks up his calls). Dont be surprised if he keeps coming up with the same B.S "sorry still dont have any update, but been told by developer that an annoucement is going to be made shortly"....RUBBISH!.

October 27th, 2010, 08:04 PM	#111
MATEMAN Registered User Join Date: Jan 2010 Posts: 19 Likes (Received): 0	asal54 Yes, I have had the same response from Luke Barnett, waiting for an up-date from the developer. I agree we should form a group but their does not seem to much support.

October 29th, 2010, 06:06 PM	#112
NickvonH Registered User Join Date: Oct 2010 Posts: 1 Likes (Received): 0	I am also an investor in WhiteBay. I am living in Germany. Is there any new information? If anybody would like to contact me, to form a group or something: TobiasKrohn@web.de

October 29th, 2010, 11:27 PM	#113
asal54 Registered User Join Date: Oct 2010 Posts: 6 Likes (Received): 0	I spoke to Luke Barnett this week and AGAIN same old BullSH**. No further news from the developer. There is some dispute which we are not fully aware off. Also, I changelled Luke on the whether our funds were on escrow, he said they were but I purchased my studio back in 2007 when the law was not introduced. He said he was going to provide bank details of the escrow account so that I can confirm with the bank directly. STILL WAITING FOR THE BANK DETAILS. Luke also confirmed that construction had stopped on White Bay. BAD SIGN INDEED. All investors who have not posted on this forum for a while, WAKE UP TO THE REALITY THAT THIS PROJECT IS ON HOLD!.

November 2nd, 2010, 11:02 AM	#114
Ducco Registered User Join Date: Jan 2009 Posts: 97 Likes (Received): 0	Drove by the White Bay development this morning and I can confirm work has completely stopped. The contractor has cleaned up the site intentionally as if preparing for a long wintersleep. It is not like they dropped everything and just left. The site camp is there but empty; perhaps a caretaker or manager as I saw one Landcruiser parked there. Best of luck to those with exposure there. I am not an investor in White Bay or any other project or property in the UAE

November 13th, 2010, 10:07 PM	#115
asal54 Registered User Join Date: Oct 2010 Posts: 6 Likes (Received): 0	Still not heard from Luke Barnett who was going to email me details about the escrow account that had apparently been set up....hhhmmmmm. WHAT A FRAUD!!!

November 19th, 2010, 01:55 PM	#116
andrewflasmann Registered User Join Date: Nov 2010 Posts: 4 Likes (Received): 0	Speaking to Luke Barnett is a complete waste of time , looks like this is going to be a long ride before any of this is sorted out. I checked in my contract that i Can demand for a refund no earlier then june 2011 so meanwhile there is not much option left but to wait and see, closer to june i will look for a decent lawyer maybe sue these shmucks for incompetency as well .

November 23rd, 2010, 11:32 PM	#117
asal54 Registered User Join Date: Oct 2010 Posts: 6 Likes (Received): 0	LATEST UPDATE: I have very bad news. I received a letter from Luke Barnett (ive copied the whole letter below). The developer is in liquidation. Al-Murjan Real Estate LLC (Under Liquidation) Court Liquidator / Ala Khzaie Court Liquidator / Ahmed Elghandour ___________________________________________________________ Date : 2nd November, 2010 Ref. : 0003/1/2010 M/s : Emirates Sunland Project Management Dear Sirs, With reference to the White Bay Project in Umm Al-Quwain; please note the following: Al-Murjan Real Estate LLC was founded between: - His Highness Sheikh / Abdullah bin Rashid Al Mualla - Al Khalijia Investments LLC where each of whom owns 50% of the company's shares to develop the project. The company started its activity and faced difficulties in the execution as the Department of Planning and Survey in Umm Al-Quwain has, without any justification, rejected to approve: 1- Activate the guarantee account. 2- Approve to divide the project's land. 3- Refused to sort and divide the project's land according to the main plan which has been submitted by the company and formally approved by the department. This also comes in the time when nearly 50% of the buyers failed to pay the amounts due on them. This has affected the company's capability to obtain finance from banks despite the company, in light of the global economic crisis, has got the approval of the Mashreq Islamic Bank to finance the buyers. Also, the company's management has succeeded to obtain the finance from the main contractor to complete the project in return for mortgage of an unsold land to ensure the payment. His Highness Sheikh Abdullah Bin Rashid Al Mualla has made a lawsuit against the company asking to dissolve and liquidate the company and to appoint court liquidators for the company to complete the liquidation process, and this was sentenced by the Sharjah Federal Court of First Instance and Ala Al Khazaie and Ahmed El Ghandour were appointed as court liquidators for the company to start the liquidation and to submit their report to the Court. Attached to this letter: * A copy of representation letter from Sharjah Federal Court of First Instance to Umm Al-Quwain Federal Court of First Instance. * Attached letter of Umm Al-Quwain Federal Court of First Instance (the execution representative) to execute the judgment and record in the Economic Department in Umm Al-Quwain. * A copy of the new commercial register from the Economic Department in Umm Al-Quwain. Therefore, and in order to preserve the interests of the creditors of Al-Murjan Real Estate LLC (Under Liquidation), the buyers will be notified within 45 days of the date of the meeting for the creditors of the company, to register their names, the due debt and the supporting documents of that debt and currently the assets and liabilities of the company are being defined by the liquidators in order to present the liquidators. Later, the liquidators will submit a plan or plans to settle these debts after validating that they are correct. Therefore, please kindly inform the buyers about the content of this letter. Please also note that: The address of the liquidators is: P.O. Box 4799 – Umm Al-Quwain – United Arab Emirates Tel.: +971 6 766-6206 Fax: +971 6 766-6208 Yours Faithfully, Ala Khazaie Ahmed El Ghandour Court Liquidator Court Liquidator (signed) (signed)

November 24th, 2010, 12:34 PM	#118
AjmanOwner Registered User Join Date: Feb 2009 Posts: 217 Likes (Received): 0	What these MONKEYS who rule the Northern Emirates need to wake-up to , is that there are GOOD and BAD investors . The BAD will simple take a small financial hit, pick themselves up and move on to another "investment". The GOOD will suffer for a long time , loose hard earned cash, and not trust investing there money in "risky" places again.

November 24th, 2010, 09:19 PM	#120
JOENEM Registered User Join Date: Nov 2010 Posts: 10 Likes (Received): 0	What about the escrow accounts? Did they release allready all they transfered funds?