#ON HOLD: THE PAD, 23F Res

[234sale]

Please NO INVESTMENT Discussion

[BlueBath]

Guys !

Please check the below link and help to put our FRUSTRATION as much as you can................


http://www.emirates247.com/property/...74#add-comment

[BlueBath]

http://www.emirates247.com/property/...08-09-1.276716


Property buyers will have to file a civil case to seek judicial remedy, unlike the earlier system of approaching property courts, if a developer invokes the "force majeure" clause and refrains from paying compensation....

[BlueBath]

Originally Posted by pdeol

http://www.emirates247.com/property/...08-10-1.277099

If your apartment or house is empty, you still have to pay the five per cent Dubai Municipality (DM) housing fee as long as you have a Dewa connection

The FUNNY thing is, they will follow RERA RENTAL INDEX !!!!

I believe, now a days NO one is able to RENT their respective unit under RERA INDEX. Because extremely limited tenants around !

Agents used to Laugh if you expect or insist them to follow RERA RENTAL INDEX !!

Another blow for DXB property investor.........

[johnwi]

its really great setback for investment

[pakboy]

its called iPad, LOLzzzzzz, so who copied who.

[Imre]

15/July/2011

The Pad

[IMG]http://i55.************/2ntej4p.jpg[/IMG]

[SkyscraperCity man]

21-Jan-12

[BlueBath]

Property investors in Dubai can seek refund and damages
Draft Investor Protection Law released for feedback from public.

Published Thursday, June 21, 2012


http://www.emirates247.com/property/...06-21-1.463886

[DubaiDreamz]

Originally Posted by BlueBath

Property investors in Dubai can seek refund and damages
Draft Investor Protection Law released for feedback from public.

Published Thursday, June 21, 2012


http://www.emirates247.com/property/...06-21-1.463886

THis is a promising start but I think the reality of investors getting any monies back on stalled projects is going to continue to be a battle for many years to come. If momentum continues then this will be a very good thing so is welcomed but not yet realised.

I still cannot believe what little options investors have at the moment in order to take action. Developers are still failing to offer any info. WHen they do climb out of the woodwork to send some correspondance it is usually for money. If you manage to meet with them they just lie to you or blame it on the infrastructure. Is the only option to go to court? Why cant we name and shame these companies?? Is there no portal to do this???? Everyone seems to be lost - action groups are a nightmare as noone wants to put their money where their mouths and pay to take action and investors are split up all over the world....noone wnats to know, but there must be literally tens of thousands of investors in a similar situation! why does everyone just act as though we should just forget it and move on???

[ramki007]

Originally Posted by DubaiDreamz

THis is a promising start but I think the reality of investors getting any monies back on stalled projects is going to continue to be a battle for many years to come. If momentum continues then this will be a very good thing so is welcomed but not yet realised.

I still cannot believe what little options investors have at the moment in order to take action. Developers are still failing to offer any info. WHen they do climb out of the woodwork to send some correspondance it is usually for money. If you manage to meet with them they just lie to you or blame it on the infrastructure. Is the only option to go to court? Why cant we name and shame these companies?? Is there no portal to do this???? Everyone seems to be lost - action groups are a nightmare as noone wants to put their money where their mouths and pay to take action and investors are split up all over the world....noone wnats to know, but there must be literally tens of thousands of investors in a similar situation! why does everyone just act as though we should just forget it and move on???

Any info on this, i was planning to file a case but now i am in dilemma

[BlueBath]

http://www.emirates247.com/news/duba...10-09-1.478390


now a days, MEDIA and REALITY moving in opposite direction.................

[DubaiDreamz]

Originally Posted by BlueBath

http://www.emirates247.com/news/duba...10-09-1.478390


now a days, MEDIA and REALITY moving in opposite direction.................

Isn't this always the case?? It's in everyones interest to believe that everything is moving forwards...but I bet there are a few investors that would strongly appose that belief!!

[BlueBath]

9th December 2012, email from ....... Omniyat properties.


Pad Properties Nine Limited


We have pleasure in writing to you with an update with regard to The Pad project.

We are pleased to advise that Gulf Technical Contracting Co. LLC (GTCC) have been appointed as the new contractor on The PAD replacing the previous contractor, Al Rostamani Pegel LLC. GTCC is a subsidiary of publicly listed contractor Drake & Scull PJSC and therefore brings with it a wealth of contracting skill and knowledge.

GTCC have already mobilized to site, to continue the construction activities. We will continue to update you with respect to progress via an email newsletter issued on a quarterly basis.

We are also continuing to liaise with the master developer in order to gain certainty with respect to their anticipated timeframes for the delivery of the infrastructure in Business Bay where The PAD is located, and will include any such information within the future newsletters. We understand from meetings with Dubai Properties that they have place the contract for the substation that will feed the Pad development recently and we look forward to the work commencing.

In the Interim we invite you to review the recent exciting announcements which positively impact The Pad from the two links below.

http://www.khaleejtimes.com/nation/i...=nationgeneral

We look forward to providing you with regular progress updates as 2013 progresses. Please do not hesitate to contact our client relations team on +971 (0)4 5115000 (email: customerrelations@omniyat.com), who will be pleased to assist you with any queries that you may have.



Yours sincerely,

For and on behalf of

Pad Properties Nine Limited

[unknownpleasures]

http://www.thepad.ae/

Construction Updates here...not much, no date, difficult to say when taken!

and this

http://www.omniyat.com/projects.html

^ no updates here at all!

Says under construction, no completion date! Well that's not unusual!

[ramki007]

Talked to somebody at the Omniyat, the PAD is on HOLD again.
they are changing the plan, now they want to build service apartments
she said it will take 2 yrs to complete.
Not sure if they are even interested to complete

[BlueBath]

Originally Posted by ramki007

Talked to somebody at the Omniyat, the PAD is on HOLD again.
they are changing the plan, now they want to build service apartments
she said it will take 2 yrs to complete.
Not sure if they are even interested to complete

the PAD is on HOLD ...... a g a i n ? ......... this PAD ON HOLD since 2009.

surely OMNIYAT is preparing for another DRAMA.....

[ramki007]

I talked to Joyce at Ominay office today and she told me that with in 2 months they are going to send the communication about the service apts
they are planning to sell them at 2500 AED/Sqft, i am told her thats too high, she said thats the prevailing rate for the furnished apts, i am not sure if this gets built ever