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Old February 23rd, 2008, 09:06 PM   #121
i love dubai
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We have bought a studio on the 21st floor unit 2104, 430 sqft. We still haven't received our contracts although we bought it resale from an agent in the UK. Surely they can't get away with changing a. the size and b. the agreed price and then try to increase the price by upto 7% in the future???? Can they?

Lynn and Paul Calderbank, UK
Yes they can. This is the first time they issue contracts and what you had before were reservation forms. It could be a dirty trick, adding the service areas to the square footage of the apartment so they can get more money. But I always thought how can this building with a bulge in the middle has the same sq feet in all the floors? should'nt the middle floors where it is wider, have more sq feet?

Last edited by i love dubai; February 23rd, 2008 at 09:19 PM.
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Old February 24th, 2008, 12:23 AM   #122
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It's quite normal that the sizes and shapes may vary a little, and a 7% or 10% in size are fairly exagerated. Normally serious developers tolerate a 3%. Should the size be smaller than 3% they will reimburse the amout. In the case the size should be larger I never heard a developer go to a client to ask for more money.This make me wonder if some project have been designed from school children! Anyway hope work will start soon.

Last edited by italyindubai; February 24th, 2008 at 12:26 AM. Reason: wasn't clear enough
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Old February 24th, 2008, 07:17 AM   #123
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I have been wondering about this issue for a while. The longer they delay starting, surely the cost of materials, steel etc, will continue to rise.

Either this will result in less profit for the developer or more money from us and we all know which is more likely.
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Old February 24th, 2008, 10:52 AM   #124
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I just talked to Investment house, my 1 bedroom apt jumped in size by 123 sq ft and in price by 102,000 AED, I don't think there is anything that I can do.
I was also told that the foundation contract has been awarded to SHARAF and work will start in 2 weeks.

Last edited by i love dubai; February 24th, 2008 at 02:46 PM.
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Old February 24th, 2008, 11:55 AM   #125
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You have got to be joking. 102000 ouch. When you said increase in price, I assumed you were talking about 20000 or so.

Is there any possibility of some kind of mix up? eg. The studios range in size from approx 420 - 455 sqft. They could conceivable mix them up. Do the 1 beds also have a variety of sizes?

How can they suddenly find an extra 123 sqft in the building unless the plans have been completely redrawn?
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Old February 24th, 2008, 11:56 AM   #126
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I just talked to Investment house, my 1 bedroom apt jumped in size by 123 sq ft and in price by 102,000 AED, I dont't think there is anything that I can do.
absolute bunch of Wxxkers...........why can't they just sell their units properly like eveybody else. It's just a scam to get more money out of you.

I nearly bought a studio here a while back......... Thank God I bought elsewhere. Makes me wonder what other tricks this lot are going to try and pull in the future ??

Last edited by Morrismarina; February 24th, 2008 at 02:47 PM.
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Old February 24th, 2008, 02:20 PM   #127
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The price of the reservation agreement is 334.480 AED and the price of the SPA is 393.076 AED
The size of the studio is 452 SQF according to the reservation agreement and 531 SQF according to the SPA...

I have also just called Investment house and they confirmed me that the price of the reservation agreement was not the final one because measurments were not definitives. Now in the contract they are definitives.

In one side i am very unhappy about that and in another side i can bought 79 SQF for a price of 740 AED/SQF which is a very good deal!!!

But is it normal to have a different price between reservation agreement and SPA? Do they respect the law if any?

Thanks

Last edited by ParisDubai; February 24th, 2008 at 02:58 PM.
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Old February 24th, 2008, 02:50 PM   #128
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Originally Posted by ParisDubai View Post
The price of the reservation agreement is 334480 AED and the price of the SPA is 393076 AED
The size of the studio is 452 SQF according to the reservation agreement and 531 SQF according to the SPA...

Is it normal to have a different price between reservation agreement and SPA? Do they respect the law if any?
No answer from Investment House for me... and so i will not send the first instalement...

Thanks
The answers are No & No.

If you've sent no money yet then I'd seriously look elsewhere, this type of lark would not given me any confidence at all in this developer going forward.
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Old February 24th, 2008, 03:06 PM   #129
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I have already paid 86 KAED when booking so can't stop now..

But as both developer and manager are on the rera list, escrow account is now open and they have to pay penalties in case of late end of construction i think everything is all right now...
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Old February 24th, 2008, 03:33 PM   #130
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Originally Posted by ParisDubai View Post
I have already paid 86 KAED when booking so can't stop now..

But as both developer and manager are on the rera list, escrow account is now open and they have to pay penalties in case of late end of construction i think everything is all right now...
Well if your happy to pay the higher price then that's fine. If not, demand your money back as you've clearly been mislead.
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Old February 24th, 2008, 03:42 PM   #131
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I pay a higher price with higher area (+79 SQF for a price of 740 AED/SQF). Don't you think it's a good deal?
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Old February 24th, 2008, 04:14 PM   #132
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I pay a higher price with higher area (+79 SQF for a price of 740 AED/SQF). Don't you think it's a good deal?
I don't know it might be. 740 per sq ft seems a good deal.

All I'm saying is they cannot force you to pay a higher price than you orignally agreed with them. If they are now saying your apartment is bigger than before but the price has gone up, then if you're happy to have a bigger unit for a higher price then that's fine. If you can't, or don't want to go along with it now then you are entitled to ask for the payments back that you've made.
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Old February 24th, 2008, 07:53 PM   #133
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The only issue as far as I can tell is the inconvenience to those who have not budgeted for the extra amount. Personally I don't particularly want to put an extra 50,000 in.

However there is no question of being ripped off or even the price changing. Nothing has changed if the extra amount is going towards more squarefootage.

Had you purchased 531 sq ft from the start the price would have been 393,000AED, as all calculations are based on area.

I think both I love dubai and Parisdubai have a good deal to get the extra area for between 740-850 per sq ft.

I would also be complaining if Investments House tried to get the current price of 1000 per sq ft for the area they have added.
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Old February 25th, 2008, 05:03 PM   #134
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Hi again. I have sent lot of e-mails to Investment House regarding the issues of price and area, and also because i have no schedule A in my contracts ("Specifications including the Unit floor plan, schedule of finishes and specifications") so i don't want to sign it before getting this schedule.
I just called Inv. House and they told me that they will answer my e-mail and that the schedule A will be ready in march, so they proposed me to wait until march to sign the contract...
Does anybody has already signed the contract?
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Old February 27th, 2008, 11:16 AM   #135
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Originally Posted by ParisDubai View Post
Hi again. I have sent lot of e-mails to Investment House regarding the issues of price and area, and also because i have no schedule A in my contracts ("Specifications including the Unit floor plan, schedule of finishes and specifications") so i don't want to sign it before getting this schedule.
I just called Inv. House and they told me that they will answer my e-mail and that the schedule A will be ready in march, so they proposed me to wait until march to sign the contract...
Does anybody has already signed the contract?
I picked up the contract from investments house office, I was told that the floor plans and specifications won't be ready until August, But they showed me the new design which I think is nicer. The bulge is still there but the lines on the side are straight and they go all the way up to the last floor.
I complained about the price and area increase, they offered to buy the apartment back from me ( pay back what I paid plus a 15% permium).
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Old February 27th, 2008, 12:37 PM   #136
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I saw the site today, still nothing just a fence.
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Old February 27th, 2008, 02:33 PM   #137
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I love Dubai, are you waiting to sign the contract and to pay the first instalment (do you wait for schedule A)? I am looking for advice regarding this issue,
Thanks
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Old February 27th, 2008, 03:39 PM   #138
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I love Dubai, are you waiting to sign the contract and to pay the first instalment (do you wait for schedule A)? I am looking for advice regarding this issue,
Thanks
I was thinking about it then I thought, if I dont sign the contract then there is nothing to gain actually I lose because at the end of the day I wont have a contract.
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Old February 27th, 2008, 06:21 PM   #139
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ParisDubai,

I should also receive my contract soon. I too plan on signing.

What might I ask do you hope to gain by not signing?

Is there really any benefit? If you are forced to sell because of the extra amount, would it make a difference at that point whether you have signed a contract or not?
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Old February 27th, 2008, 07:05 PM   #140
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ParisDubai,

I should also receive my contract soon. I too plan on signing.

What might I ask do you hope to gain by not signing?

Is there really any benefit? If you are forced to sell because of the extra amount, would it make a difference at that point whether you have signed a contract or not?
I agree, It is not a good thing not to have a contract signed by both parties.
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