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



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Old August 16th, 2011, 01:30 PM   #1381
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   #1382
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   #1383
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   #1384
sif
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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   #1385
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   #1386
thebizangel
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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   #1387
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   #1388
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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Old September 3rd, 2011, 09:19 PM   #1389
ArmaniArmo
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Quote:
Originally Posted by Ali_Syed View Post
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!
Excellent!! Like I mentioned several times before, everyone here is free to do what they please, so no one else is to be blamed for their individual actions and decisions regarding their investment. I will be posting only material that are crucial and absolutely necessary and nothing else.
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Old September 4th, 2011, 10:07 AM   #1390
SayNoToRAK
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Quote:
Originally Posted by ArmaniArmo View Post
Excellent!! Like I mentioned several times before, everyone here is free to do what they please, so no one else is to be blamed for their individual actions and decisions regarding their investment. I will be posting only material that are crucial and absolutely necessary and nothing else.
Most investors asked for a link to construction - a reasonable request in the circumstances - but PURE said an absolute no with no negotiation. People like you who are, i suspect, invested in Tower 1 may see some light at the end of the tunnel but looking at the bigger picture what hope is there for Towers 2-6. Most investors on this forum were invested in the serviced apartments in Tower 3. If you have any information regarding how these towers are going to be built then it would be helpful if this was posted up. The vast majority of investors wanted to see the development completed but there was no communication from PURE to quench the fears. So again if you have any info that would assist purchasers - including myself - to restart payments and, in turn, kickstart the development further then post it up. You talk about only posting info that is "crucial and absolutely necessary", well if you have the links into PURE that you say you have [and we all hope you do] this information is crucial and absolutely necessary.

http://www.almarjanislandrak.com
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Old September 4th, 2011, 01:10 PM   #1391
thebizangel
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Quote:
Originally Posted by ArmaniArmo View Post
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.
Dear ArmaniAmaro Maybe you have misunderstood. I am not asking you to justify yourself. I am simply intrigued as to your optimism on BM. You have attempted to ridicule some other investors efforts who have chosen out of frustration with the developer to follow a legal route. A route you followed ref Marina Star = see your own quote below ( I am glad you obtained a satisfactory conclusion )
May 4th, 2011, 06:46 AM #796
ArmaniArmo
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Posts: 15 I went to RERA and Court
--------------------------------------------------------------------------------
I went to RERA and they are saying that the building is 24.7% completed. what a joke!! I also went to court to file a complaint and proceed with the law suit. They gave me all the necessary papers to fill and submit. Incidentally, they were very helpful at the court house. I have also had an oppointment with KBH a very well known Real Estate law firm here in the Financial Center in Dubai (near the Emirates Towers)
I'm just wondering if anyone here would like to join in with the law suit with me? If so please respond.
----------------------------------------------------------------------

You have deduced the obvious = If everybody stops paying the development will not be completed. Why have some investors stopped paying? That also appears obvious. They are maybe concerned about many negative current & historical developments. However my concern would be = why should I pay anymore money? Based on Pures past & current behaviour & relationship with their partner investors ( you, others & I ) Will this development ever come to frutition in its original format?
The term comes to mind throwing good money after bad.
I have come to this conclusion having already paid 80% of the installments. Pure do not treat us as partners or investors. They treat us with contempt.
Dont fret yourself checking to see if you mentioned 6 months. You did not.The project completion date is quoted on the respected Middle East based financial website Zawya

Pure Real Estate - Blu Mirage - Zawya.com
Zawya Business Development .... Completion: Apr 2012 ... +971 4-327-6601 | Fax: +971 4-327-6602 | Email: info@purefze.com | Website: www.blu-mirage.com ...

http://www.zawya.com/projects/projec...074808/Pure-Re... - Similar

If you have genuine cause for optimism via positive inside information. And you wish to encourage other investors to share your optimism and part with more money. Then its in your own personal interest to support your optimism by sharing the facts behind your optimism.

Otherwise you maybe wasting your efforts.

Regards
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Old September 25th, 2011, 01:41 AM   #1392
dyzos
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Quote:
Originally Posted by Ali_Syed View Post
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!

i do agree with this comment. ultimately, this is a good investment, i still think so. Blu Mirage actually has government backing, not just on paper, but also for real. It's all just going to take a lot more time then we all thought, unfortunately.
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Old September 26th, 2011, 10:59 PM   #1393
iryna
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is any one know what happen with BM? why they dont update web? how to contact with them,because i tried many times but is not possible.
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Old September 27th, 2011, 05:26 PM   #1394
tony55
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contact

Quote:
Originally Posted by iryna View Post
is any one know what happen with BM? why they dont update web? how to contact with them,because i tried many times but is not possible.

hi anybody lives in DUBAI and can go to DUBAI office and see what is happening I tried to contact them,was unable tp contact.
It would be worthwhile if is somebody local visit office and see what is happenning
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Old October 1st, 2011, 01:38 PM   #1395
SayNoToRAK
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Two months on and no change: http://www.almarjanislandrak.com/ Thought ArmaniArmo may have had something important to say/tell us - clearly not.

Last edited by SayNoToRAK; October 1st, 2011 at 01:39 PM. Reason: :-) Say No To RAK
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Old October 9th, 2011, 11:01 AM   #1396
SayNoToRAK
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Out of interest has anyone had and contact or correspondence with the developer within the last 4 months or so? Anything at all...
www.almarjanislandrak.com
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Old October 10th, 2011, 09:08 PM   #1397
iryna
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hi.i infest in b/m all ready 80%,but is nothing progress.i would like to join you in legal actions.please contact me on my email;aos69@yahoo.com.Many thanks.
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Old October 15th, 2011, 12:49 PM   #1398
zoe22
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Hello

Just to add my concerns... i have not been able to get in touch via email with Pure or Paramount. I haven't called them yet as I don't want to waste my money - may have wasted too much already!!!!

Rakeen have responded to my emails but have passed me onto Rakia, who, surprise surprise, have yet to respond!!!

Has anyone called Pure/Paramount? Any one in Dubai visited the offices?

Any info would be very much appreciated.

Thanks

Z
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Old October 15th, 2011, 08:32 PM   #1399
tony55
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Quote:
Originally Posted by zoe22 View Post
Hello

Just to add my concerns... i have not been able to get in touch via email with Pure or Paramount. I haven't called them yet as I don't want to waste my money - may have wasted too much already!!!!

Rakeen have responded to my emails but have passed me onto Rakia, who, surprise surprise, have yet to respond!!!

Has anyone called Pure/Paramount? Any one in Dubai visited the offices?

Any info would be very much appreciated.

Thanks

Z

Did try to contact them by phone but no reply.You say you had a reply from RAKEEN what did u ask them and what did they say.
I wounder if there is anybody live in DUBAI and he can go to office and see what is happening. Can you please let know what RAKIA have said to you.
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Old October 15th, 2011, 11:48 PM   #1400
zoe22
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Tony,

Basically I emailed pure, paramount, rakeen and rakia asking for an update on the project. I kept emailing them! I have only received a response from rakeen who have said that they were the sales agent for rakia and that I should contact someone there: khalifa.a@rakinvestmentauthority.com , but he's not responded.

But apparently UAE folk don't like responding to emails??!!!

Not looking good, very upsetting but if I do get in touch with anyone I'll keep this forum updated.

Z
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