Invested in Champion Tower

[gavin01]

I bought at champions tower from memo real estate. Anyone know much about them? Already paid 30% but haven't got my contract just yet. Doesn't sound normal does it . . .

[cade99v7]

Dubai is slow, but several companies do issue contracts quickly. I got caught out in Dubai, assuming that things were slow, whereas they were badly wrong. I'm not suggesting that is the case with Champions Tower, but chase for the contract on a regular basis.

[dubaicloud]

I can only say with the DIAMOND, the developers at FIRST HOME WORLD WIDE are based in Guilford UK and are super efficient with contracts, I had a preliminary one and the full one was sent to me to sign off before sending the money. Any queries are speedily answered and I am in regular contact with them.
Incidentally I bought DIRECT from developers and generally I am finding that is best where possible.
Any questions I am happy to answer

[micchan]

I've just stumbled across this forum. Yes, I too have purchased in Eden Gardens (toward the end of 2005). I found Better Homes very elusive at the start of 2006 and became very concerned, but it became obvious why when the news came through about Lokhandwala taking over the development. Since then, I have found the builders to be very responsive.

[Latifk]

I reside in Australia and would very much appreciate any information on a developer called SALYA HOMES. I am interested in buying a condo in Dubai Sports City, a studio.

I know they are incorporated in the UK but would appreciate more info on their credentials as I have read horrendous stories about projects going bust and even saw an article on a project that was supposed to be a condo but the developers changed it to residential!! An investors worse nightmare!!!

Has anytone bought GIOVANNI BOUTIQUE SUITES? SALYA HOMES is the developer of this and it sounds excellent in the glossy internet adverts but I need much more reasurrance since I am, just like the most of us here, buying property at the click of a mouse, thousands of miles away.

What is the protection (apart from paying into an Escrow account) to the investors against rising costs? Will the developers legally have the right to demand more and more till project completion, despite contracting in black and white to an agreed figure initially?

Please assist guys to which I shall be very thankful.

Dubai Sports City: In my views Dubai Sports City is only sports city in the world where you will fine all the sports related activities. Champions Tower is one of the very popular series of one very famous and wellknown developer Memon Investments. I have invested in champions tower 1 at almost 650/sqft, one bedroom apartment. Now the price is 1950/sqft. Just for test i place an add in the news papaer and I am getting reply. But i am not selling now because i know the prices will go more up after December 2008.

Originally Posted by InterViagra

I'm buying a large Studio in CT 2. Progress has been very slow and,having already paid 70%,will not be paying anymore until I have had the contract reviewed by an independant Solicitor.
I have been quoted £1000 by the International Property Law Centre whom I'm already using to sort out problems with a purchase in Italy.
Has anyone already gone down this route?
Alternatively would any other purchasers care to share the cost with me or is everyone happy with Memon?

Cheers,

IV

I have invested with Memon. I have been told in advance that master developer has delayed the project. I have bought it and construction is going good and my apartment will be ready by the end of this 2009. They send me every month updates. My property value went up too. I think I will put it on for rental and I m sure that will go very quickly as we know already whatever is been completed in Dubai is been occupied already and even in Ajman too.

Most of the projects has now been delayed anyway its not Memon but you know its the chain. The sheikh and than master developer and than developer, so I think its nothing on their hands and I m sure this is what you'll get a response from anyone. The installments which you pay is completely goes for construction, so if you won't pay than how they are going to construct and any other developer will ask you for the installments.

This is my point of view.

Originally Posted by gavin01

I bought at champions tower from memo real estate. Anyone know much about them? Already paid 30% but haven't got my contract just yet. Doesn't sound normal does it . . .

you will be in problem.

[jeff1708]

I purchased my apartment at Champs 1 in September 06 and was told the completion would be in December 07. As to date i have been informed the completion will be in December 07, then June 08, then December 08 now \December 09 which I still dont believe it. The trouble with Memon is they have 3 towers in sports city and are shifting their workforce from tower to tower thus the hold up with construction. I know this as i went inside sports city and whilst in Dubai for 2 months nin July and August 08 never saw no progress.
Also didn't do my researce properly and disappointed its not near the lake.
Customer care is rubbish as well as a woman called Santy keeps telling me I should be happy i brought it so cheap and not to complain about the delay -talk about the customer always comes first! Friends have invested in Oasis 1 right by the lake released 1 year after champions and it is nearly complete and they paid much less!!
I will definitely try to sell it on completion and buy something nearer the canal

[jeff1708]

When purchasing in sports city be very careful on the location - always buy around the lake as these will re sell and rent out first.
The Diamond was over priced and in a bad location it only sold because it had Michael Owens face on the glossy brochure. Many people are trying to re sell their units there but cannot as they paid such a high price initially.