Quote:
Originally Posted by jordandvdj
John A - why did i choose COA - because it offers one of the best living spaces in dubai.
I am upset because when i bought it - it was due june 2009.
It takes at least 20 months to built a tower like Wadi. To hit the current long stop of june 2010 they need to start now. There is no contract let to build it - there for December 2010. more than 2 years.
Thats 300,000 aed i will be paying in rental in the meantime and god knows how much to the bank to finance IMG delays.
The payment plan has not changed however - why should i make payments when they have committed nothing. Payment should be on contruction milestones only. 10% on foundation, 10% on podium etc. This seems fair and reasonable.
I know it will be good - but IMG should not expect my money for doing nothing. I will pay when they pay.
I know it will be wonderful when done - i am happy to wait as long as they do not expect me to pay the equivalent of one years dubai rent every 12 weeks. Forget it.
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Well practically in terms of dates what you saying make sense which ofcourse is very bad for all of us. But what can we do, correct me if I am wrong the only thing we can do is ask for a new Payment Structure. I am also paying interest on the Mortgage so it is a nightmare. We need to talk to them - "WE".