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Northern Emirates Projects in Ras al-Khaimah, Umm al-Quwain, and Fujairah



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Old August 4th, 2011, 09:16 PM   #1381
Jasmine's Dad
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Quote:
Originally Posted by beer51 View Post
what is the significance of putting the site office and warehouse picture in the blu mirage progress update.
Nothing else to show, so why not show the "warehouse" that has less stock than your local garden centre. Only a fool would put any more of their hard earned cash into this development and the remaining investors are not fools. Those that "block bought" for quick profit are long gone. Money can be invested elsewhere in the world with immediate return and prices have reduced to reflect market conditions. These guys have not not moved one inch. Better to walk away than wait for these idiots to deliver something - they are totally out of their depth and couldn't develop a digital photo.
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Old August 8th, 2011, 11:21 AM   #1382
Micky D
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Where is Jin

Rumor has it that Jin has resigned after recently getting married. Can anyone confirm either way?
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Old August 13th, 2011, 06:36 PM   #1383
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Jasmins Dad, you are trying to get people riled up once again. I think you and that women who organized the class action law suit should have learned your lessons by now. What did you people accomplish? Please shed some light on the subject. Did you or did you not get anywhere with your hard hitting lawyers? My guess would be.... a big NO.
The project will be completed, it's ramadan and probably 120 degrees with 90% humidity.
Give it a rest and stop trying to create mutiny. I think we can all think for ourselves. Life is already hard enough for some people in this forum, your negative and sarcastic comments are not appreciated. Lets stick to the facts and ignore mere assumptions. Please do let us know if you actually have proof of any wrong doings on behalf of Paramount/ Blu-Mirage. Best of luck to everyone.
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Old August 13th, 2011, 09:43 PM   #1384
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Originally Posted by ArmaniArmo View Post
Jasmins Dad, you are trying to get people riled up once again. I think you and that women who organized the class action law suit should have learned your lessons by now. What did you people accomplish? Please shed some light on the subject. Did you or did you not get anywhere with your hard hitting lawyers? My guess would be.... a big NO.
The project will be completed, it's ramadan and probably 120 degrees with 90% humidity.
Give it a rest and stop trying to create mutiny. I think we can all think for ourselves. Life is already hard enough for some people in this forum, your negative and sarcastic comments are not appreciated. Lets stick to the facts and ignore mere assumptions. Please do let us know if you actually have proof of any wrong doings on behalf of Paramount/ Blu-Mirage. Best of luck to everyone.
AA I see from your previous posts that you have changed your tune re Blu M & that you were also talking about taking legal action re another of your investments. It does sound that you are in a bad place and if you want to believe that all is well with Blu M then I apologise if I have offended you. I got more than enough from the legal action to enable me to think for myself. The information received told me much about the viability of this project and how the current phase of the "build" is funded. I hope you are still paying as that is the only way that this project will be completed. Anyway you will be pleased to know that I will not be posting up again - almost all of the BluM investors are in the legal group so no real point in posting up here anymore - I also wish all investors luck as I have always done.

Last edited by Jasmine's Dad; August 14th, 2011 at 08:07 AM. Reason: moving on from BluM
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Old August 14th, 2011, 10:42 PM   #1385
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Originally Posted by Jasmine's Dad View Post
AA I see from your previous posts that you have changed your tune re Blu M & that you were also talking about taking legal action re another of your investments. It does sound that you are in a bad place and if you want to believe that all is well with Blu M then I apologise if I have offended you. I got more than enough from the legal action to enable me to think for myself. The information received told me much about the viability of this project and how the current phase of the "build" is funded. I hope you are still paying as that is the only way that this project will be completed. Anyway you will be pleased to know that I will not be posting up again - almost all of the BluM investors are in the legal group so no real point in posting up here anymore - I also wish all investors luck as I have always done.
Hi Jasmine Dad
Please do not go away from this forum because one person has differant views.I am sure most of us value your input to this forum.Please do not go away from this forum.Hope you will reconsider your desion and come back to forum and keep giving your views.
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Old August 15th, 2011, 10:25 AM   #1386
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Originally Posted by tony55 View Post
Hi Jasmine Dad
Please do not go away from this forum because one person has differant views.I am sure most of us value your input to this forum.Please do not go away from this forum.Hope you will reconsider your desion and come back to forum and keep giving your views.

Hi Jasmine Dad...Please do reconsider your decision...

ArmaniArmo, Everybody is entitle to their opinion & share it with the group...it is upto the individual to take it or ignore it.......

But that is not the reason to blame...or use accusing words.....

to the group, I hope all of us can be careful in feature....Once again Jasmine Dad..reconsider your decision...
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Old August 15th, 2011, 10:50 AM   #1387
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i am not a blue mirage investor, but as an investor in almarjan please do allow me to share my opinion here. I am with jasmine's dad on this one. this a free forum. we all come here to read a variety of different views and give our own view on things and jasmine's dad is one of most active members here and i always read what he has to say.
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Old August 15th, 2011, 04:09 PM   #1388
Jasmine's Dad
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I am a bit embarrassed by the comments - I was already going to hang up my posts as there is not much more that can be said about BluM that hasn't already been said. I am due to relocate and am leaving a lot of baggage behind.

Ultimately the question is "where is the money coming from to build?" - those of us who paid a small amount to CMS CM did so to obtain information about the development - such was the clout of CMS CM that the developer hired another top tier firm to fight the release of info - the RAK IDO stepped in and info was released.

At no time has the developer sought to communicate properly with the very people paying for their development - their last letter, late 2010, to all investors [individually] was to claim Force Majure and then give investors a month or so to pay additional funds. As usual not a great way to retain the faith & support of investors. I for one have not received anything from them since.

There is no progress re Tower 3 at all - nothing.

At the same time there has been no formal communication on the infrastructure development/progress on Al Marjan - so there is little or no buy-in from the RAK Authorities either. The La Hoya Bay development is a good example of the lack of interest from the RAK Authorities re investor losses.

So I am moving on - I did all I could to salvage something from this investment - more than the majority of other investors - I have spoken to RAKIA, the IDO, participated in the CMS CM Group, given formal notification of a dispute to Standard Chartered, engaged with the National, formally defaulted etc etc. So there is nothing further that can be done and given that I am aware of what went in & out of the Escrow [including what went to the construction company] nothing more to be done.

At some stage the development will need to be sorted out & the investors' interest's addressed. You can only engage in a conversation if the other party is not deaf, dumb & blind - our developer is unfortunately appearing to be all three.
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Old August 15th, 2011, 05:28 PM   #1389
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Hi Jasmine's Dad,
We have not met yet as I have recenlty come aboard. I have read all the history and have currently tied my future payments to construction.

For the last 3 months I have noticed the same photographs from 3 different directions i.e. From the front, back and inside. I am guessing that next month we will see an ariel shot. Am I confident that I will be sleeping in my Blu Mirage bed at the end of April 2012? NO! Am I confident of another "Force Majeure" Yeah Baby!! B4 you leave town let's catch up some how as I've been around here for Donkey's years...how can we get in touch? Thanks Micky D
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Old August 15th, 2011, 09:31 PM   #1390
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Quote:
Originally Posted by Jasmine's Dad View Post
I am a bit embarrassed by the comments - I was already going to hang up my posts as there is not much more that can be said about BluM that hasn't already been said. I am due to relocate and am leaving a lot of baggage behind.

Ultimately the question is "where is the money coming from to build?" - those of us who paid a small amount to CMS CM did so to obtain information about the development - such was the clout of CMS CM that the developer hired another top tier firm to fight the release of info - the RAK IDO stepped in and info was released.

At no time has the developer sought to communicate properly with the very people paying for their development - their last letter, late 2010, to all investors [individually] was to claim Force Majure and then give investors a month or so to pay additional funds. As usual not a great way to retain the faith & support of investors. I for one have not received anything from them since.

There is no progress re Tower 3 at all - nothing.

At the same time there has been no formal communication on the infrastructure development/progress on Al Marjan - so there is little or no buy-in from the RAK Authorities either. The La Hoya Bay development is a good example of the lack of interest from the RAK Authorities re investor losses.

So I am moving on - I did all I could to salvage something from this investment - more than the majority of other investors - I have spoken to RAKIA, the IDO, participated in the CMS CM Group, given formal notification of a dispute to Standard Chartered, engaged with the National, formally defaulted etc etc. So there is nothing further that can be done and given that I am aware of what went in & out of the Escrow [including what went to the construction company] nothing more to be done.

At some stage the development will need to be sorted out & the investors' interest's addressed. You can only engage in a conversation if the other party is not deaf, dumb & blind - our developer is unfortunately appearing to be all three.
HI Jasmine's Dad
It is nice to see you are back in this forum.Please stay with us as you are more involved and we need your input in this .I hope you will stay with us and give us some support. As you klnow most of us have lot of our hard eraned money in BM and really cannot afford to loose it,so please stick with us.Thanks
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Old August 15th, 2011, 11:23 PM   #1391
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JD, I'm confused. First you write, only a fool will be paying into this project and then you contradict yourself by saying, the only way this project will be completed is by paying. So which is it? If the majority of the investors are in the class action lawsuit (according to you), then one can assume that the parties involved in the lawsuit are not paying, correct? Does this mean default or breach of contract? Does this mean Paramount can forfeit the property and resell it to another individual? Not to mention lack of funds for the developer to continue with the project (common sense). Even though, as we can see for ourselves, they do have every intension to complete this project. Dear investors, please do not worry about JD, he will always be in this forum reading and making comments, guaranteed!!
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Old August 16th, 2011, 06:24 AM   #1392
Micky D
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Post Eid Meet Up anyone?

Hi Folks,
I am not suggesting a "Union" but it would be nice to meet up with other investors who are UAE based to get a feel for the overall sentiment. I would like to make sure that Pure is not spinning us all a different story. Of course the message for pure (and I know you are reading this) is "Communication" and the lack of it from your side!

Anyone interested in meeting for a coffee after Eid (including Pure) then let's see a show of hands and then we can openly arrange a meeting spot and time. Let me know your thoughts....Cheers Micky D
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Old August 16th, 2011, 01:30 PM   #1393
tony55
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Quote:
Originally Posted by ArmaniArmo View Post
JD, I'm confused. First you write, only a fool will be paying into this project and then you contradict yourself by saying, the only way this project will be completed is by paying. So which is it? If the majority of the investors are in the class action lawsuit (according to you), then one can assume that the parties involved in the lawsuit are not paying, correct? Does this mean default or breach of contract? Does this mean Paramount can forfeit the property and resell it to another individual? Not to mention lack of funds for the developer to continue with the project (common sense). Even though, as we can see for ourselves, they do have every intension to complete this project. Dear investors, please do not worry about JD, he will always be in this forum reading and making comments, guaranteed!!
Hi ArmaniArmo

Why are some of you having at go JD,because JD has been involved more and he tried to contact all the parties PURE/RAKIA/STANDARD CHARTER .
ST suppose to bee lokking after the fundds depositede by the ivestors make sure investirs do not loose. You should thank JD all the work he has been doing to get bottom of this project. I am sure JD and all of us wnat this project to sucesseed,the updates are nearly all same side view front view then nothing to they show storage area warehouse.We all should be working together and noy having a go at eachother,so top ang join together and get the best of this project together.
U MUST HAVE HEARD DIVIVDE AND CONQUAR
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Old August 17th, 2011, 01:02 AM   #1394
ArmaniArmo
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Hi Tony,
Why is it so hard for everyone to understand, that if we don't pay the dues the building will not be completed. This is exactly what the group in the class action lawsuit is doing. I for one, have been on time with my portion of payments and I'm sure many people in this forum have also been paying their dues on time, even though as we all know, catastrophic events took place i.e. economy, financial, and global melt down etc.. This is hardly anyones fault. If you financially aren't in a position to make payments, then I think you should cut your losses short and move on. If you are able to make payments but you deliberately not doing so, then you are making things difficult for everyone else. I also realize that the apartment prices in some cases have gone down 30-40%. Again, this isn't anyone's fault but the world events which took place back in the day.We all made investments expecting immediate returns, well things went south and didn't turn out the way we anticipated. This doesn't mean that things won't turn around and benefit us all once again. It really doesn't matter to me whether I hear back from the lawsuit group, because, all their doing is sabotaging the development. They are the people who will not pay Pure/Paramount their share of the monies due to complete this project. If I'm in breach of contract then I should suffer the consequences and visa versa. From what I gathered back in April, they have every intention to complete this job. Unfortunately, some investors don't see it that way. I was also told that they are pretty adamant in foreclosing on investors who refuse to pay.
I wish all the best for everyone in this forum.

Last edited by ArmaniArmo; August 17th, 2011 at 01:08 AM.
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Old August 17th, 2011, 05:56 PM   #1395
Micky D
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Internal Ruckus

Folks, the fight is not within but external! I will pay my money if they complete the said building milestones. If they try Force Majeure again then I'll be seaking legal action. This is their first project in the UAE since the Ibn Batutta project did not begin. I hope that this will not be their Vietnam. Let's club together to insure a positive outcome for investors or some form of reimbursement/money back. Take a look at the UAE and you will see that they are closing in on developers that bring a bad taste to the image of the country.
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Old August 29th, 2011, 05:27 PM   #1396
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meeting to discuss

Anyone interested in meeting for a coffee after Eid (including Pure) then let's see a show of hands and then we can openly arrange a meeting spot and time. Let me know your thoughts....Cheers Micky D[/QUOTE]

Hi glad to have found this forum, the general impression I have is that Pure seem to be making some progress on Blu Mirage, but I still feel concerned about the wisdom of my investment.

I'd be interested as Micky D's says to meet as a group with Pure. My hope is it would be without any "us and them" confrontation. I'm hoping for some clarity through our doubts and questions being aired and the responses being recorded.
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Old August 31st, 2011, 08:44 AM   #1397
ArmaniArmo
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Hello Sif,
I will gladly take you up on your offer meeting with pure and the manager in charge, whom incidentally I met a few months back when I was in Dubai. I think it's a great idea to meet with the people running the show. I'm sure this meeting will be extremely helpful to clarify and answer most of our questions and somewhat bring calm to BM investors. We can also arrange a meeting via webcam live. let me know your thoughts on this.
Thanks,
AA
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Old September 1st, 2011, 08:51 PM   #1398
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Quote:
Originally Posted by ArmaniArmo View Post
Hi Tony,
Why is it so hard for everyone to understand, that if we don't pay the dues the building will not be completed. This is exactly what the group in the class action lawsuit is doing. I for one, have been on time with my portion of payments and I'm sure many people in this forum have also been paying their dues on time, even though as we all know, catastrophic events took place i.e. economy, financial, and global melt down etc.. This is hardly anyones fault. If you financially aren't in a position to make payments, then I think you should cut your losses short and move on. If you are able to make payments but you deliberately not doing so, then you are making things difficult for everyone else. I also realize that the apartment prices in some cases have gone down 30-40%. Again, this isn't anyone's fault but the world events which took place back in the day.We all made investments expecting immediate returns, well things went south and didn't turn out the way we anticipated. This doesn't mean that things won't turn around and benefit us all once again. It really doesn't matter to me whether I hear back from the lawsuit group, because, all their doing is sabotaging the development. They are the people who will not pay Pure/Paramount their share of the monies due to complete this project. If I'm in breach of contract then I should suffer the consequences and visa versa. From what I gathered back in April, they have every intention to complete this job. Unfortunately, some investors don't see it that way. I was also told that they are pretty adamant in foreclosing on investors who refuse to pay.
I wish all the best for everyone in this forum.
Dear ArmaniArmo
Your optimism regarding this development astounds me. You criticise other posters on this site and try to ridicule some investors seeking legal address.
I note from your previous posts on skyscrapercity
that you initially started posting regarding blu mirage 04 May 2011. Any reason why you decided to enter the dialogue so late in the proceedings?
I also note your previous postings regarding a different development = Marina Star Dubai. Did you not vehemently follow the same route to seek legal address against the Marina Star developers. The same route as you are now criticising some BM investors for following.
Did negotiation provide a solution at Marina Star?
Where does your current optimism come from? How is it that you suggest to have close contact with Pure? When most other investors have no contact whatsoever.This developer needs to attend a basic PR & How to win friends & influence people seminar
One year ago I had already paid 80% of the balance. Construction to date ( not withstanding spurious claims by the developer of force majeur) in comparison to the the original plans effectively is non-existent.
Are you really expecting me to believe that this project will be completed as per the original plan within 6 months.
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Old September 2nd, 2011, 01:19 PM   #1399
Ali_Syed
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I am reading the forum after long time. I am BM investor, but i did not take part in legal action, along with few more investors who i know.

I do want something to happen legally, and really would love to have the money back. But, the reason we did not join the legal action, was that we knew that nothing tangible will come out of it. i.e. getting the information on this project is really of no use, because in reality, what we are really interested is when the project will be completed, or whether can we get our money back.

the legal action can not get your money back, nor can it answer when the project will be completed, nor can it enforce any time frame upon it.

the options are simple. stop the payment. And "Whenever" the construction reaches the percentage of payments made, then only next payment will be made. i.e. if construction reaches 40% i will pay up to 40%, when reached 50% will pay another 10%. so just keep in sync with it.

If the construction is going to take another 10 years, well, we just have to sit tight and play the game!
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Old September 3rd, 2011, 08:54 PM   #1400
ArmaniArmo
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Quote:
Originally Posted by thebizangel View Post
Dear ArmaniArmo
Your optimism regarding this development astounds me. You criticise other posters on this site and try to ridicule some investors seeking legal address.
I note from your previous posts on skyscrapercity
that you initially started posting regarding blu mirage 04 May 2011. Any reason why you decided to enter the dialogue so late in the proceedings?
I also note your previous postings regarding a different development = Marina Star Dubai. Did you not vehemently follow the same route to seek legal address against the Marina Star developers. The same route as you are now criticising some BM investors for following.
Did negotiation provide a solution at Marina Star?
Where does your current optimism come from? How is it that you suggest to have close contact with Pure? When most other investors have no contact whatsoever.This developer needs to attend a basic PR & How to win friends & influence people seminar
One year ago I had already paid 80% of the balance. Construction to date ( not withstanding spurious claims by the developer of force majeur) in comparison to the the original plans effectively is non-existent.
Are you really expecting me to believe that this project will be completed as per the original plan within 6 months.
Dear Bizangel, I don't think you understand me. First off I don not have to justify myself to you or anyone else. The people who have taken legal action are only going to make things harder on themselves, not to mention the rest of the investors. My current optimism is based on what I know about the developer. According to you "(close contact/ communications)" . The fact of the matter is, If everyone stops paying, the development will not be completed. Like I said before, and I will not elaborate, Pure has other ways of dealing with the situation. Everyone is free to decide for themselves and do what they please. I've never claimed that they will complete the project in six months. If I mentioned six months, which I highly doubt, then, it's something I was told by Pure's project manager on the job site, which I take with a grain of salt. After all the project manager is not aware of what really goes on internally with Pure/BM. Again if you must know, my investment in the Marina Star(idle) was successfully transferred to another building called the Princes Tower in Dubai Marina for an even swap. Since you are so concerned about my investments, I hope this will provide you with some comfort.
I'm not going to waste my time trying to answer anymore questions or acknowledge nor entertain any comments, coming from the lawsuit group.
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