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Industrial Zones Development Industrial projects in Jebel Ali including Dubai World Central, Dubai Industrial City, Dubai Investments Park, Jebel Ali Free Zone South and more



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Old July 8th, 2015, 11:46 AM   #61
fahmed82339
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Quote:
Originally Posted by shah100 View Post
Hi Furhan

I am investor in town houses from Dec 2007 when 1st Royal Estate launched Town House Apartments Offices.
1) I paid them 30% as per sales Purchase Agreement and 70% was suppose to pay on hand over.
2) I was promised that Town Houses will build and delivered latest by 2011. In sales Purchase Agreement It clearly says If Town Houses are not delivered by 2011 Developer has to refund my full money.
3) Royal Estate management start making false promise changing hand over dates from one year to other so they can avoid refund.
4) In 2013 they were able to build 41 Town Houses and I was expecting I will get my Town Houses. Royal Estate Management lied again that my Town Houses is not in these 41 Town Houses.
5) In 2014 They relaunched the Royal Estate project once again by calling Shahrukh Khan Bollywood star for one day to relaunch the project and paid him millions of Dollars from the investors hard earned money.
6) I met several time Mr Osman Valli who is the owner of Royal Estate told him my complain but he refused to refund my money and insisted he can transferred already bought units in Dec 2007 into newly launch project in 2014 with out my agreement.
7) I am stuck
8) Mr Osman Valli said in his conversation he is answerable on the day of judgement and he won't run away with my money. Of course he will be answerable for his wrong doings.
9) He knows very well what he is doing. He is after making more money and more money

10) I have all proofs what I said.

You can think about Royal estate Past Present and future who can pay millions of Dollar to shahrukh Khan for one day but not ready to solve investors problem.
Hi shah

Sorry to hear about your experiences

I have recently purchased studios at royal estates and am aware of the fact that the project has been relaunched recently. Once royal estates has enough investors in my opinion I think they will deliver this time round as the xepo is coming up in 2020 and they would want to capitalise on that market, location is prime and they wouldn't just want to leave the plot empty. You never know DLD might even get involved this time round.

Also 3 developers are now working on this project so I should think they will start construction some time soon.
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Old July 12th, 2015, 03:44 PM   #62
shah100
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Hi Furhan

You said once Royal Estate have enough investor then they will deliver the project ? where from they will get enough investor on their past success investor will come to buy from them.
Lets see what three thudgs can do ?
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Old July 14th, 2015, 05:07 PM   #63
Richard Head
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Some people will believe any old marketing BS. "Royal Estates" is absolutely hilarious as a development name. It's in the middle of a bloody great big industrial estate. Oh sorry - "business park"
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Old July 15th, 2015, 07:48 PM   #64
fahmed82339
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Shah are you currently making more payments towards your townhouses?

I hope this time the project does go ahead. Only time will tell, I am going to be visiting dubai in November so if i dont see any progress then i will need to see what my actions will be then.
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Old July 15th, 2015, 08:10 PM   #65
shah100
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I am not making any payment until I see something build. My old payment plan was 30 % during construction and 70% on completion.

I have already paid 30% in 2009. I know they will pay trick to change sales Purchase Agreement To get more money out of me.


regards
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Old July 15th, 2015, 08:29 PM   #66
fahmed82339
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Hi Shah

Thats good that your not making any further payments, Inshallah it will be all be ok in the end. I am going to Dubai on 3rd of November so will inform you of updates when i am there. If you decide to visit dubai before me then please keep me in the loop.

Regards

Furhan
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Old July 16th, 2015, 10:16 AM   #67
shah100
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Hi Furhan

Thanks for replying. If I go to Dubai before you I will definitely let you know and from Dubai will bring as much as possible information for you.

But in the mean time you can ask the person who sold you the unit to send you the latest construction pictures. Then we will know If they have started the work.

Regards
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Old July 17th, 2015, 01:28 PM   #68
fahmed82339
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Hi Shah

I purchased this property through texture properties, They are the main resellers for this project as they only liase with the developers. The work on the Apartment buildings is due to start after EID and work for townhouses was ongoing when i last visited.

Around 15 people onsite when i was there few months back.

Funnily enough my EMI payments were supposed to start on the 15th of July however i have been told by texture. I dont need to pay anything at the moment because the work will start after EID thus i will need to make payment once construction actually starts.

Since Royal Estates was relaunched the project is now 35% sold
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Old July 17th, 2015, 01:29 PM   #69
fahmed82339
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check this link out.

http://www.gulfconstructiononline.com/news/story/4685

This time i think the project will come through inshallah

Regards

Furhan
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Old July 17th, 2015, 08:11 PM   #70
shah100
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Aristocrat Star plans Dh5b project in Dubai

Aristocrat Star Investments, a UK-based real estate, retail and manufacturing conglomerate, launched a Dh5 billion mixed-used development in Dubai.

Published: 00:27 October 10, 2008 Gulf News
By Nadia Saleem, Staff Reporter



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Dubai: Aristocrat Star Investments, a UK-based real estate, retail and manufacturing conglomerate, launched a Dh5 billion mixed-used development in Dubai.

The Royal Estates community, targeted at the high-end market, is spread over 3.5 million square feet and located in the Dubai Investment Park.

The hospitality aspect of the development will include a Dh180 million hotel and hotel apartments worth Dh400 million.

The company is in talks with Kempinski to have its Shaza Hotels brand manage the five-star hotel, which is expected to have 380 rooms.

The residential district has 34 villas with five bedrooms each, 200 townhouses with four bedrooms each and 810 apartments.

The Gateway Apartments and Park View Apartments are a collection of six-storey, low-rise residential buildings located at the entrance to The Royal Estates residential community.

Osman Valli, chief executive of Aristocrat Star Investment, told Gulf News that 90 per cent of the apartments are either studios or one-bedroom apartments and are priced at Dh1,400 per square foot.

The commercial buildings will offer a combined 852 offices, while the retail aspect of the development will house an 850,000 square foot boutique retail mall.

Construction is set to begin next January, and will be completed in two years, Valli said.

The conglomerate will launch two properties in the coming months. A Dh3 billion project at Al Marjan is planned to be launched in four to six weeks. Another Dh6 billion project, spread out over four million square feet is also in the pipeline for UK-based investors.



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Old July 17th, 2015, 08:18 PM   #71
shah100
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Royal Estate in 2008
Please read what I have posted in response to your postings. I was very impressed like you when I read this news in Gulf News in 2008.

Please read it twice then you will understand how developer make their profit in Dubai (Short cuts)
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Old July 17th, 2015, 08:21 PM   #72
shah100
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Please Read the line where CEO royal estate is promising in 2008 project will complete in two years. Today is 2015 and project is not started yet.
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Old July 17th, 2015, 08:38 PM   #73
shah100
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Aristocrat awards Dh600 million contract

Aristocrat Star Investment awarded a Dh600 million construction contract yesterday to Power Line Gulf Construction for the Dh5 billion Royal Estates project.


Image Credit:Supplied picture

Park View Apartments is a development planned for The Royal Estates community.

Published: 23:17 March 25, 2009 Gulf News
By Nadia Saleem, Staff Reporter



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Dubai: Aristocrat Star Investment awarded a Dh600 million construction contract on Wednesday to Power Line Gulf Construction for the Dh5 billion Royal Estates project.

Osmal Valli, group chief executive of Aristocrat Star Investments, said that the project should be completed within 30 months and that 70 per cent has been sold.

Valli said that prices will not be revised due to market conditions, as they were "already at a reasonable" price. However, the payment plan has been adjusted and spread out over 90 months.

"This move involved utilising additional funds from our international operations. This payment plan was extended to our existing customers to assist them in difficult financial times and not as a tool towards getting new sales. As a result, the customer feedback we have received has been positive and overwhelming," he said.

Ebrahim P. Ghosal, managing director of PLGC said that it is "a good environment for starting work on the project," as the market prices for materials are stable at the moment.

Last year, prices of steel and cement saw huge fluctuations, leading to friction between contractors and developers as the price increase had to be absorbed by the contractors. Some were negotiated, while others included a 'fluctuation clause' that stated the developer had to absorb the materials price increases.

Ghosal said that while there was no fluctuation clause in the company's contract with the developer for this project, however, "should the contract prolong, for any reason, there will be mutual agreement on adjusting prices.

"In the long term there could be some price movement, but it is stable now."

The groundwork has already started, and the contractor will begin work on town houses, followed by offices and apartments.

The Royal Estates comprises 3.6 million square feet of commercial, residential, retail and a 5-star hotel.
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Old July 17th, 2015, 09:49 PM   #74
fahmed82339
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Lets wait and see what happens, if work starts picking up on site in a few months then that is a good sign otherwise a decision will need to be made if i will carry on with EMI payments or not.
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Old July 18th, 2015, 12:03 PM   #75
shah100
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Hi

You can see yourself. Ask the person sold you the unit tell you the progress on the project. I hope they don't repeat 2007 collected money from the poor investors made false promises and still keeping investors money and nothing delivered.
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Old July 21st, 2015, 07:22 PM   #76
shah100
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Fahmed

After eid you have not posted any thing
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Old July 24th, 2015, 05:10 PM   #77
fahmed82339
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Quote:
Originally Posted by shah100 View Post
Fahmed

After eid you have not posted any thing
Shah100

Will post something when i have a update. As of now texture properties who are managing this project have told me to stop making payments as the project is delayed a few weeks because developer didint account ramadan during construction based payment plan. Will update you once i get a update.

Regards
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Old July 25th, 2015, 08:53 AM   #78
shah100
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Fahmed

Thanks for posting latest information.

Regards

Shah
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Old July 27th, 2015, 10:24 AM   #79
Investor2015
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What about the SPA issue? I didn't get any SPA only reservation form. Did any new investor get an SPA or also they told you to wait for 6 months and more?
Logically if I look at the restart and how many developers will be working on it, I would say they will finish it maybe with some delay, but not like 2008. If only they would work more organized.. Keep investors trust high, by not delaying on the SPA and send payment receipts fast after receiving.
Did they start working or will they start by August?
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Old July 27th, 2015, 11:50 AM   #80
fahmed82339
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Hi Invester 2015

Welcome to the Blog

i have recently purchased in royal estates and i was issued a reservation form until payments have been made up to 30% of purchase, texture properties told me then i can apply for oqood registration.

On your reservation form when do the EMI payments start from? if you dont mind me asking.

Regards

Furhan
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