#PROJECT: Hydra Village

[Mattw2345]

Originally Posted by dbxdude

google: investors against law 13
you will find the action group you want.
If you start an action group here they do close the thread.

I dont share all your views and while i understand your frustration going on about it evey day seems prety pointless, clearly there behind shedule but i dont think they are going to catch up by tomorrow...

My other point is if you think this investment is not for you, you should sell it, wich is hard to do in this enviroment and even harder if you are berating them eveyday - harder for other people to, who need/want to exit. Bottom line, your shooting yourself in the foot.

Whatever I say will not affect this development, those that speculated and got caught by the drop and offloaded at panic rates are the ones to thank for the drop in values, along with the general crunch.

I am merely asking Hydra for answers and NO I am not berating them everyday! perhaps once in the last three weeks I have asked for an update which I still have not got, hardly berating.

As I have said I am related to this industry and this project needs to get its socks on to hit the 2010 last Q completetion.

Sometimes asking 'polite' questions from the correct areas reaps rewards, I would like to know what progress has been made, I am entitled to this, if for eg we are further delayed till as I am led to understand 2011 f Q then ok so be it, just let us know. If one is persistant then one can effect results for everyone!

This does not have to be an action group, just asking as I said questions as my bank are paying and I am paying and so would like to see some forecasting.

This is especially helpful for selling as one can see that a level of build will be aquired by x date which 'should' then escalate an increase in prices.

One would hope so..

Action Group! No time Im afraid

[Severancepay]

There are many discrepancies with Hydra Village in Abu Dhabi.

Units are still being sold by Hydra on a very different schedule. 20% down and small increments at 4 month intervals. Previous buyers have paid up to 40%.

Some customers who bought over a year ago have only paid 10% and been told they do not have to pay more for now.

Development at the site has been stopped for the past month at least. This from Hydra themselves.

Numerous requests for project progress reports have been ignored. The last official progress report was September.

Something smells here. Can anyone offer any more info on the above?

[Mattw2345]

Originally Posted by Severancepay

There are many discrepancies with Hydra Village in Abu Dhabi.

Units are still being sold by Hydra on a very different schedule. 20% down and small increments at 4 month intervals. Previous buyers have paid up to 40%.

Some customers who bought over a year ago have only paid 10% and been told they do not have to pay more for now.

Development at the site has been stopped for the past month at least. This from Hydra themselves.

Numerous requests for project progress reports have been ignored. The last official progress report was Septemb

Something smells here. Can anyone offer any more info on the above?

My bank dispersed an initial sum to the seller/Hydra and I have paid two months interest on this so far. I have just noted that December interest payment deducted from my account is at the same rate as November so AD CB have not paid as I was expecting the latest 160k to bring this up to 50%.

So if they are not paying Hydra then I think this speaks volumes...

Lets see what Jan brings!

[dbxdude]

People who have paid 10%:
Bought initially and took finance from FGB. FGB had an agreement with Hydra initially but due to the fact the master plan was re-done 3 times Hydra delayed making the contracts, without contracts FGB wont make further payments. Now the contracts are ready FGB only want to offer 70%, hydra wants 90% - they are negotiating and once the matter is solved the outstanding payments may/ or may not be made.

People who have contracts and finance through another bank have paid between 20-40%, also, anyone who bought secondry had to pay 40% for the transfer.

People who followed their original payment plan have paid have paid 40-50%.

This is the reason for the descrepency.

[speculator]

Now the contracts are ready FGB only want to offer 70%, hydra wants 90% - they are negotiating and once the matter is solved the outstanding payments may/ or may not be made.

Do they want 90% of payments due or 90% of purchase price ? If it is 90% of purchase then that would be unreasonable considering the amount of progress.

[dbxdude]

Originally Posted by speculator

Now the contracts are ready FGB only want to offer 70%, hydra wants 90% - they are negotiating and once the matter is solved the outstanding payments may/ or may not be made.

Do they want 90% of payments due or 90% of purchase price ? If it is 90% of purchase then that would be unreasonable considering the amount of progress.

Sorry i guess i wasnt clear i ment the amount of finance they will provide.
IE, intially i was offered 90% finance on hydra village, now FGB want to offer 70%. Hydra is negotiating with FGB to have 90% offered...

[dbxdude]

na

[Mattw2345]

Originally Posted by dbxdude

Sorry i guess i wasnt clear i ment the amount of finance they will provide.
IE, intially i was offered 90% finance on hydra village, now FGB want to offer 70%. Hydra is negotiating with FGB to have 90% offered...

Ah! Thanks for that! I have 90% from ADCB and if this finance door can be opened a little more then this is very good news, perhaps a compromise in between as this is now bound to attract serious investors now as a project!.

I do hope so, despite all of my 'rantings' lol I like you want nothing more than this project to gather speed and complete, added to this its not in Dubai which is a definate advantage as we are all agreed.

[speculator]

[QUOTE=dbxdude;30275660]Tried calling, he either hangs up or doesnt answer. Do you have an email address? Here is the marketing managers contact details, maybe she has an update on it... someone call her.

Tel: +971 4 2294499
Mobile: +971 50 503 6992

Yes thats the problem I had.

[Dusty in Dubai]

http://www.business24-7.ae/articles/...2e82bdedd.aspx

[Mattw2345]

OK.

Got fed up with talking to Hydra so reluctantly used my own networks ref my job to get info.

A company has been drafted in (when not sure) to manage this development. Royal Group. I spoke to a 'european - German! who is heading this up, we all know how efficient they are!.

Basically they are about to finalise these zoned contractors which will be complete within latest 6 weeks then as he said in understated German.

'expect to see rapid mobilisation' so really as we all know, nothing has been going on other than initial groundworks which are now complete.

He expected with this 'fast track' response to hit completetion! So all being well by say July this year we can expect to see real ground out progress which should really speed things up!


As a footnote I was at the rulers engineers office in A/D recently to see a contact and the word back was that this was 'iconic enough' to be attracting attention from those in high places who themselves want to see progress and not anything that could harm A/D's good rep!

Hope this helps

(SEE WE DONT ALL!!! RANT MATE) - WE GET OF OUR BACKSIDES AND WE .......DO!!!!

[dbxdude]

Sounds great and come of it, u do rant abit

[Mattw2345]

Originally Posted by dbxdude

Sounds great and come of it, u do rant abit

Lol! You need a ranter of his chain now and again!, to be honest I just wanted answers and let's hope this all starts soon!

Good thing is we are all in on a great deal!

[Severancepay]

Website addresses:

info@hydraproperties.com
customersrv@hydraproperties.com
sales@hydraproperties.com

You will get a reply (maybe) saying that your query will be answered shortly. Forget it - They never reply. It was not updated for months and then it was taken down.

[outindubai]

Just spoke to jessica she says she has nothing to do with Hydra Village and to contact Isabella!

[dbxdude]

Originally Posted by Mattw2345

Lol! You need a ranter of his chain now and again!, to be honest I just wanted answers and let's hope this all starts soon!

Good thing is we are all in on a great deal!

Yes indeed, its good to have a rant but whats happening in Abu dhabi pales in comparison to the huge fraud that's being committed by various developers in Dubai. If you want to see some good rants check my postings on Dubai I am very very happy to be holding investments in Abu Dhabi right now and i will probably buy more once i see some more progress...

[speculator]

Yes I spoke to Jessica and just like all in Hydra she was oblivious to Hydra Village. She did say she passed my email on to the sales director for him to respond. Still waiting I dont think he will be bothered.

So really thanks to members on this forum who have to resort to private tactics to get updates from the open market.

[Severancepay]

For your protection it is best to keep the emails of correspondence with Hydra

[Bimcnorth]

Originally Posted by Mattw2345

OK.

Got fed up with talking to Hydra so reluctantly used my own networks ref my job to get info.

A company has been drafted in (when not sure) to manage this development. Royal Group. I spoke to a 'european - German! who is heading this up, we all know how efficient they are!.

Basically they are about to finalise these zoned contractors which will be complete within latest 6 weeks then as he said in understated German.

'expect to see rapid mobilisation' so really as we all know, nothing has been going on other than initial groundworks which are now complete.

He expected with this 'fast track' response to hit completetion! So all being well by say July this year we can expect to see real ground out progress which should really speed things up!


As a footnote I was at the rulers engineers office in A/D recently to see a contact and the word back was that this was 'iconic enough' to be attracting attention from those in high places who themselves want to see progress and not anything that could harm A/D's good rep!

Hope this helps

(SEE WE DONT ALL!!! RANT MATE) - WE GET OF OUR BACKSIDES AND WE .......DO!!!!

Just a clarification..

The guys in "high places" (Bani Fatima) own Royalgroup who is a Bani Fatima Holding company, Royalgroup in turn owns Hydra and summat like 30 other companies.

[Bimcnorth]

Originally Posted by dbxdude

Sorry i guess i wasnt clear i ment the amount of finance they will provide.
IE, intially i was offered 90% finance on hydra village, now FGB want to offer 70%. Hydra is negotiating with FGB to have 90% offered...

It´s a bit funny that FGB and Hydra are owned/controlled by the same people though...But not unusual in UAE.