#GROUND WORK: PRODIGY PROJECTS (6 Buildings), 6x5F Res (JV South) - Page 5

manchester123 · May 31st, 2009, 05:29 PM

Quote:

Originally Posted by 234sale

Show us a construction picture so we can move it.

I've been sent some pics. How can I upload or email?

laguna33p · May 31st, 2009, 07:39 PM

www.tinypic.com ??????

***234sale*** · June 1st, 2009, 02:19 PM

Ask them to send you some photos. Easy as that..

manchester123 · June 1st, 2009, 04:04 PM

manchester123 · June 1st, 2009, 04:08 PM

Prodigy 1 and 4

manchester123 · June 1st, 2009, 04:09 PM

Can this be moved from "Never built", please?

stevegerald2000 · June 5th, 2009, 04:43 PM

I also got the same pictures from Minc.

stevegerald2000 · June 5th, 2009, 04:45 PM

Did anybody register for the title deed from land department?

imran_kmal · June 23rd, 2009, 03:10 PM

ANY ONE OUT THERE INVESTED IN PRODIGY 3??? I RECENTLY RECEIVED AN EMAIL DEMANDING AN GAREEMENT TO A REVISED PAYMENT PLAN!!! THIS MONEY IS NOT FOR CROSS SUBSIDIES IS IT.
WILL APPRECIATE ANY COMMENTS BY THE INVESTORS.
NOTICE FROM THE BULLETIN BOARD THAT ADDITIONAL FUNDS REQUESTED BY MINC TO COMPLETE PRODIGY 1 ARE NOW CUT BY ALMOST 50% . IS IT DUE TO SUDDEN COST DECLINE OR MINC ACCEPTING LOWER MARGINS.

laguna33p · June 23rd, 2009, 08:22 PM

Its's due to the drop in construction costs.......dont pay anything until you are 101% sure what the payment is for.....

oryx12 · July 14th, 2009, 11:32 AM

has anyone registered for the title deed from land dept? or has anyone recieved an email again asking for this? i have recieved one last week

laguna33p · July 14th, 2009, 02:11 PM

I received an email from Minc a few days ago, not paying until nearer completion...

stevegerald2000 · July 14th, 2009, 03:55 PM

I also received the letter and phone call. They are saying that I have to pay the admin fee to them now so that they can register the unit in the system but by 2% to the land department and collect the title deed at the time of completion. Anyone paying the admin fee?

Annabel · July 18th, 2009, 10:01 PM

Quote:

Originally Posted by imran_kmal

ANY ONE OUT THERE INVESTED IN PRODIGY 3??? I RECENTLY RECEIVED AN EMAIL DEMANDING AN GAREEMENT TO A REVISED PAYMENT PLAN!!! THIS MONEY IS NOT FOR CROSS SUBSIDIES IS IT.
WILL APPRECIATE ANY COMMENTS BY THE INVESTORS.
NOTICE FROM THE BULLETIN BOARD THAT ADDITIONAL FUNDS REQUESTED BY MINC TO COMPLETE PRODIGY 1 ARE NOW CUT BY ALMOST 50% . IS IT DUE TO SUDDEN COST DECLINE OR MINC ACCEPTING LOWER MARGINS.

Hi All guys

I have an apartment in Prodigy 3. I have payed a lot of money until now, but i don´t hear anything from MINK. Do any of you guys get any informations??
I have payed the title deed 1 time for about 3 month ago. 14 days ago they asked for the money again...hmmm.... I´m very sad about this..?? Do some know anything?

shabbs · July 25th, 2009, 02:04 PM

Hi guys. I purchased an 2 bed apartment in Casa Verona for the full purchase price back in January 2008. I never received any contract still....have been told that the project has serious delays due to the late handover in the plot by Nakeel. I asked for a refund through my managing agent who is awaiing a collective refund for the full puchase price of this plot, but Haroon Mamood claims that the only delay in refunding the money is that the lands department will not release the funds from the escrow account....I really don't know what to do as MINC suggested initially that they transfer my plot to one of their under construction developments, which I declined as this was not the what I agreed to buy. Now I have no contract, no plot as MINC bought the plot back from the agent I bought it through along with several others in Casa Verona and yet still I have received no refund for over a year as they blame the lands department for not allowing escrow account withdrawal. I don't know what to do as I have lost over 800,000 dirhams ! This is daylight robbery. I can't even get 70% refund as the new law states as I don't even own the pl,ot that I initaillyt paid for as MINC agreed to buy it back...where is my money then !

laguna33p · July 25th, 2009, 02:28 PM

Shabbs, why dont you look into the possibility of transferring your unit into Prodigy 1-3, Prodigy 1 is currently under construction.

shabbs · July 25th, 2009, 06:45 PM

Thanks for the suggestion. It is of course an option, but for one I have no idea what Prodigy 1-4 look like (do they have a website brochure like Casa Verona ?), although I am told they are all quite similar. Second, I have no idea what a 2 bed equivalent apartment in Prodigy 1 would be worth on completion and thirdly, when is completion realistically expected for Prodigy 1 ? Also, what guarentees do I have that they will not ask for any more funds on top of the 805k dirhams that I already paid, such as registering the title deed etc
I have been advised, that because I never even received a contract since I parted with my money ( I just signed the registration form and was given a receipt for monies paid), that MINC are obligated to refund 100% of my money. If I had signed a contract and cancelled it, then according to RERA I would only be entitled to 70% refund, but I never received or signed a contract. Right now, I would be delighted to get even a 70% refund and run, but even that is not straightforward. MINC bought my plot back from the estate agent that sold it to me, along with 6 others that the agent owned and now the agent has been promised and assured by Haroon Mamood that MINC will be giving a full collective refund on all these plots....rightfully so. However,the refund was promised in March finally when they said they had Escrow funds available....this never materialised and now they maintain that it is because of the Lands Department that the funds are not being released. This clearly makes no sense and so now the estate agent is starting legal proceedings againast MINC as they have an air tight contract with provisions made for a full refund.
MINC are having been playing games and moving the goal posts since they took my money 2 years ago in Jan 2008, blaming the late handover on the plot from Nakeel, rising construction costs, no more financial backing from the banks because of the global finacial crisis and so on. Quite frankly, it's all bullshit and a scam as far as I'm concerned as they were clearly behind schedule and in financial trouble on all the Prodigy developments from day 1, hence selling new developments with flash brochures to seduce investors to parting with their cash to fund the earlier devlopments that were struggling financially. I wish I had found this forum before I parted with my cash, but hindsight is a great thing.
The agent states that they can easily reasign me to the plot in Casa Verona which I originally purchased and that I can then go direct to the lands department myself and claim 70% refund. (The other 30% is taken by MINC for the hardwork at conning my out of my hard earnt savings to pay form the flash offices and salaries....what a liberty !) Or the agent says I can hang tight and wait for a full 100% collective refund as promised to the agent from MINC ,but which still has not materialised and hence legal proceedings have commenced.
I am inclined to take the 70% and run. Does anyone know if claiming my 70% at least is a straighforward process ? I need my money or even 70% of it back as soon as I can.

Sullu · July 25th, 2009, 08:24 PM

I wonder if anyone can assist in updating me on the prodigy 2. I am advised to forward payment in the following account.
OAKGROVE GLOBAL LIMITED (N/A)(PRODIGY 2)
TRUST A/C WITH MASHRAQ BANK
Whereas original reservation amount has been paid in the name of MiNC Property Entp?
Is this project going ahead and how safe is to pay in the above account. I am concerned about the safety of my investment. Thanks. Sullu

laguna33p · July 26th, 2009, 01:57 PM

As far as I'm aware construction is only in swing for prodigy 1. If I was you, I would not pay until they can supply update pics etc etc and until you are fully satisfied that construction has started for prodigy 2. Check with RERA also, I am sure payments are now linked to construction milestones.

kingv · August 3rd, 2009, 12:02 AM

Hi all. Just to let you know I have invested in Prodigy 3. I have paid around 40% to date....

I was sent a contract with revised payments linked to the construction progress. They are not asking for anymore from me until the foundation is built. They had also sent pictures with the contract back in April 2009 showing the site was getting cleared ready for construction. I was asked for some registration money and the revised contract to be signed and returned. I have done nothing.

I plan to go to dubai in the next few weeks and will see what progress has been made.

can we round up a few prodigy 3 people....so far:
Imran Kmal
Annabel
KingV

June 1st, 2009, 02:19 PM	#83
*234sale* Registered User Join Date: Sep 2006 Location: Dubai/Brighton Posts: 8,725 Likes (Received): 3	Ask them to send you some photos. Easy as that.. __________________ my UAE updates ©skyscraperlist.com. my photography 500px

June 23rd, 2009, 03:10 PM	#89
imran_kmal Registered User Join Date: Jun 2009 Posts: 8 Likes (Received): 0	prodigy 3 ANY ONE OUT THERE INVESTED IN PRODIGY 3??? I RECENTLY RECEIVED AN EMAIL DEMANDING AN GAREEMENT TO A REVISED PAYMENT PLAN!!! THIS MONEY IS NOT FOR CROSS SUBSIDIES IS IT. WILL APPRECIATE ANY COMMENTS BY THE INVESTORS. NOTICE FROM THE BULLETIN BOARD THAT ADDITIONAL FUNDS REQUESTED BY MINC TO COMPLETE PRODIGY 1 ARE NOW CUT BY ALMOST 50% . IS IT DUE TO SUDDEN COST DECLINE OR MINC ACCEPTING LOWER MARGINS.

July 14th, 2009, 03:55 PM	#93
stevegerald2000 Registered User Join Date: May 2009 Posts: 46 Likes (Received): 0	registration I also received the letter and phone call. They are saying that I have to pay the admin fee to them now so that they can register the unit in the system but by 2% to the land department and collect the title deed at the time of completion. Anyone paying the admin fee?

July 25th, 2009, 02:04 PM	#95
shabbs Registered User Join Date: Apr 2009 Posts: 5 Likes (Received): 0	Casa Verona. Prodigy 6. Hi guys. I purchased an 2 bed apartment in Casa Verona for the full purchase price back in January 2008. I never received any contract still....have been told that the project has serious delays due to the late handover in the plot by Nakeel. I asked for a refund through my managing agent who is awaiing a collective refund for the full puchase price of this plot, but Haroon Mamood claims that the only delay in refunding the money is that the lands department will not release the funds from the escrow account....I really don't know what to do as MINC suggested initially that they transfer my plot to one of their under construction developments, which I declined as this was not the what I agreed to buy. Now I have no contract, no plot as MINC bought the plot back from the agent I bought it through along with several others in Casa Verona and yet still I have received no refund for over a year as they blame the lands department for not allowing escrow account withdrawal. I don't know what to do as I have lost over 800,000 dirhams ! This is daylight robbery. I can't even get 70% refund as the new law states as I don't even own the pl,ot that I initaillyt paid for as MINC agreed to buy it back...where is my money then !

July 25th, 2009, 06:45 PM	#97
shabbs Registered User Join Date: Apr 2009 Posts: 5 Likes (Received): 0	Casa Verona. Prodigy 6. Refund. MINC. Lands Department Thanks for the suggestion. It is of course an option, but for one I have no idea what Prodigy 1-4 look like (do they have a website brochure like Casa Verona ?), although I am told they are all quite similar. Second, I have no idea what a 2 bed equivalent apartment in Prodigy 1 would be worth on completion and thirdly, when is completion realistically expected for Prodigy 1 ? Also, what guarentees do I have that they will not ask for any more funds on top of the 805k dirhams that I already paid, such as registering the title deed etc I have been advised, that because I never even received a contract since I parted with my money ( I just signed the registration form and was given a receipt for monies paid), that MINC are obligated to refund 100% of my money. If I had signed a contract and cancelled it, then according to RERA I would only be entitled to 70% refund, but I never received or signed a contract. Right now, I would be delighted to get even a 70% refund and run, but even that is not straightforward. MINC bought my plot back from the estate agent that sold it to me, along with 6 others that the agent owned and now the agent has been promised and assured by Haroon Mamood that MINC will be giving a full collective refund on all these plots....rightfully so. However,the refund was promised in March finally when they said they had Escrow funds available....this never materialised and now they maintain that it is because of the Lands Department that the funds are not being released. This clearly makes no sense and so now the estate agent is starting legal proceedings againast MINC as they have an air tight contract with provisions made for a full refund. MINC are having been playing games and moving the goal posts since they took my money 2 years ago in Jan 2008, blaming the late handover on the plot from Nakeel, rising construction costs, no more financial backing from the banks because of the global finacial crisis and so on. Quite frankly, it's all bullshit and a scam as far as I'm concerned as they were clearly behind schedule and in financial trouble on all the Prodigy developments from day 1, hence selling new developments with flash brochures to seduce investors to parting with their cash to fund the earlier devlopments that were struggling financially. I wish I had found this forum before I parted with my cash, but hindsight is a great thing. The agent states that they can easily reasign me to the plot in Casa Verona which I originally purchased and that I can then go direct to the lands department myself and claim 70% refund. (The other 30% is taken by MINC for the hardwork at conning my out of my hard earnt savings to pay form the flash offices and salaries....what a liberty !) Or the agent says I can hang tight and wait for a full 100% collective refund as promised to the agent from MINC ,but which still has not materialised and hence legal proceedings have commenced. I am inclined to take the 70% and run. Does anyone know if claiming my 70% at least is a straighforward process ? I need my money or even 70% of it back as soon as I can.

May 31st, 2009, 07:39 PM	#82
laguna33p Registered User Join Date: Oct 2006 Posts: 425 Likes (Received): 0	www.tinypic.com ??????

June 1st, 2009, 04:04 PM	#84
manchester123 Registered User Join Date: Nov 2008 Posts: 86 Likes (Received): 0

June 1st, 2009, 04:08 PM	#85
manchester123 Registered User Join Date: Nov 2008 Posts: 86 Likes (Received): 0	Prodigy 1 and 4

June 1st, 2009, 04:09 PM	#86
manchester123 Registered User Join Date: Nov 2008 Posts: 86 Likes (Received): 0	Can this be moved from "Never built", please?

June 5th, 2009, 04:43 PM	#87
stevegerald2000 Registered User Join Date: May 2009 Posts: 46 Likes (Received): 0	I also got the same pictures from Minc.

June 5th, 2009, 04:45 PM	#88
stevegerald2000 Registered User Join Date: May 2009 Posts: 46 Likes (Received): 0	Did anybody register for the title deed from land department?

June 23rd, 2009, 08:22 PM	#90
laguna33p Registered User Join Date: Oct 2006 Posts: 425 Likes (Received): 0	Its's due to the drop in construction costs.......dont pay anything until you are 101% sure what the payment is for.....

July 14th, 2009, 11:32 AM	#91
oryx12 Registered User Join Date: Feb 2009 Posts: 45 Likes (Received): 0	has anyone registered for the title deed from land dept? or has anyone recieved an email again asking for this? i have recieved one last week

July 14th, 2009, 02:11 PM	#92
laguna33p Registered User Join Date: Oct 2006 Posts: 425 Likes (Received): 0	I received an email from Minc a few days ago, not paying until nearer completion...

July 25th, 2009, 02:28 PM	#96
laguna33p Registered User Join Date: Oct 2006 Posts: 425 Likes (Received): 0	Shabbs, why dont you look into the possibility of transferring your unit into Prodigy 1-3, Prodigy 1 is currently under construction.

July 25th, 2009, 08:24 PM	#98
Sullu Registered User Join Date: Jul 2009 Posts: 1 Likes (Received): 0	I wonder if anyone can assist in updating me on the prodigy 2. I am advised to forward payment in the following account. OAKGROVE GLOBAL LIMITED (N/A)(PRODIGY 2) TRUST A/C WITH MASHRAQ BANK Whereas original reservation amount has been paid in the name of MiNC Property Entp? Is this project going ahead and how safe is to pay in the above account. I am concerned about the safety of my investment. Thanks. Sullu

July 26th, 2009, 01:57 PM	#99
laguna33p Registered User Join Date: Oct 2006 Posts: 425 Likes (Received): 0	As far as I'm aware construction is only in swing for prodigy 1. If I was you, I would not pay until they can supply update pics etc etc and until you are fully satisfied that construction has started for prodigy 2. Check with RERA also, I am sure payments are now linked to construction milestones.

August 3rd, 2009, 12:02 AM	#100
kingv Kingv Join Date: Jan 2009 Posts: 9 Likes (Received): 0	Prodigy 3 buyer Hi all. Just to let you know I have invested in Prodigy 3. I have paid around 40% to date.... I was sent a contract with revised payments linked to the construction progress. They are not asking for anymore from me until the foundation is built. They had also sent pictures with the contract back in April 2009 showing the site was getting cleared ready for construction. I was asked for some registration money and the revised contract to be signed and returned. I have done nothing. I plan to go to dubai in the next few weeks and will see what progress has been made. can we round up a few prodigy 3 people....so far: Imran Kmal Annabel KingV

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