Elite in sports city

[Stephendxb]

Originally Posted by vanityfair

At last Triplanet has sorted out there web site. Construction updates on each elite project. Project information and other sport city updates are now available. Lets hope they keep the site updated regularly.

For all investors of the Elite projects. The new website has been launched, here you can find the details of each project Triplanet Group with photos showing the current state of construction.
(This step alone is more than some of the larger developers have done) I will monitor the progress carefully over the next six months for Elite 6, as I have a unit there. It should become very evident if Triplanet will complete or not in that timeframe. Personally I believe they will, but I wish they would sort out some in house finance.

[vanityfair]

I have just arrived back to UK from Dubai, viewed Elite 6 eariler this week. Only at ground work stage. I was last in Dubai in April and quite impressed by the overall amount of work already carried out within Sports City. Elite 1 and 2 still only on ground work.

[Fra&Cat]

Djaan
We also bought a studio in Elite 6, and our next payment is end of January 2009. We're in two minds about what to do, we don't want to pay anymore, but then again, if we don't pay, we're afraid that it'll end up in a legal case -and that's the last thing we can afford!

I don't know what you are planning on doing, but we would like the payment plan to be revised i.e. next payment due after completion of 1st floor, and continue payments on completion of the following floors.

Personally, I think a diplomatic approach is needed. We should be assertive, but not aggressive.

Please let us know what you suggest.

[memo123]

I just recieved the SPA for Elite 4 , 8 months late and in it it says that if i forfiet payment not only will i loose all but also pay all legal fees and any losses the develpoer would incure from selling the unit at lower price and I have to bear all additional financing fees in addition to paying all legal fees against me !
CAN YOU BELIEVE THIS
AND NOT ONLY THIS i recieved it today
and he dated it 10 th of August ?
I asked DHL to give me a reciept for the delivery to show it to RERA
I have already paid 50%
not fair not fair at all
regards

Originally Posted by Fra&Cat

Djaan
We also bought a studio in Elite 6, and our next payment is end of January 2009. We're in two minds about what to do, we don't want to pay anymore, but then again, if we don't pay, we're afraid that it'll end up in a legal case -and that's the last thing we can afford!

I don't know what you are planning on doing, but we would like the payment plan to be revised i.e. next payment due after completion of 1st floor, and continue payments on completion of the following floors.

Personally, I think a diplomatic approach is needed. We should be assertive, but not aggressive.

Please let us know what you suggest.

[memo123]

Dear all
have any of the elite investors recieved SPA to sign yet and if so
have you gone through it please give me your feed back
need to know should I sign or not for it has plenty against the investor
regards

[vanityfair]

I have invested in Elite 6 and received and signed contract in May.

[vanityfair]

Could not see anything in contract that was untoward. All funds held in escrow account. I do not see a problem with the development. Behind schedule but has now started.

[memo123]

have you bought one yourself and have you gone through 23-1and 23-2 in the SPA?
REGARDS

Originally Posted by vanityfair

Could not see anything in contract that was untoward. All funds held in escrow account. I do not see a problem with the development. Behind schedule but has now started.

[Stephendxb]

Originally Posted by Fra&Cat

Djaan
We also bought a studio in Elite 6, and our next payment is end of January 2009. We're in two minds about what to do, we don't want to pay anymore, but then again, if we don't pay, we're afraid that it'll end up in a legal case -and that's the last thing we can afford!

I don't know what you are planning on doing, but we would like the payment plan to be revised i.e. next payment due after completion of 1st floor, and continue payments on completion of the following floors.

Personally, I think a diplomatic approach is needed. We should be assertive, but not aggressive.

Please let us know what you suggest.

Dear Elite 6 investors ( myself included ) As with many Dubai developments, this one is running late. I like many of you are worried due to the current turmoil in the market and rumors of developers pulling out. But Tri-planet have at least created a website and if they post regular progress updates this will instill a lot of confidence. it will also be my personal basis for making the next payment.

All I can say is I have talked to them regarding adjusted payments and they will listen and deal with you on a one to one basis. In my opinion what is really needed is for them to appoint/approve a bank offering finance on all the Elite towers. This would mean that those who have already paid + 30%, (in most cases this is now 40%), they can at least be eligible for a mortgage, instead of the large quarterly payments.

There is also a lot of pressure in the market for developers to link payments with construction progress, but as with many things, time is of the essence.

[memo123]

IN Elite 5 , and have seen nothing off the ground yet , I don't know why you are so hostile all i am trying to attain here is are you all happy with the spa clauses?
and have you all received the spa yet , for i have just received it and i am not happy where all the clauses are in favor of the developer
AS For the payment adjustments , i have spoken to them and said they wont adjust the payments.

no one will defend a company like this unless you are an agent and you are after your commission .
best of luck

Originally Posted by Stephendxb

Dear Elite 6 investors ( myself included ) As with many Dubai developments, this one is running late. I like many of you are worried due to the current turmoil in the market and rumors of developers pulling out. But Tri-planet have at least created a website and if they post regular progress updates this will instill a lot of confidence. it will also be my personal basis for making the next payment.

All I can say is I have talked to them regarding adjusted payments and they will listen and deal with you on a one to one basis. In my opinion what is really needed is for them to appoint/approve a bank offering finance on all the Elite towers. This would mean that those who have already paid + 30%, (in most cases this is now 40%), they can at least be eligible for a mortgage, instead of the large quarterly payments.

There is also a lot of pressure in the market for developers to link payments with construction progress, but as with many things, time is of the essence.