sportscity anyone?

[hassan]

Originally Posted by martinm

hi all,i have bought in sportscity the apartment block is called the elevation does anyone have any views or info on it as an investment,thankyou martinm.

Once dubai land is completed this property shall be a great return

Originally Posted by martinm

anyone been out to sportscity to see the progress as i wood love to know about progress on the eleavation plot r9-11 please.

Martin,

I have also bought in sports city the elevation r911 . bought in jan 2006. They say that they are breaking ground this month. they keep putting it off. it was supposed to be in 2006 then april 2007 now may 2007.!!!

Laranoval : i have been trying to find out who the developer is but to no avail.

i too am a bit worried about it. i have one last payment to pay before the last and final one. the contract does state that if they are late that you should be able to sell . I have indicated this , they have said no problem BUT the dollar is low at the moment so it is not a good idea!!!

Profile have a few develoments in the region. The elevation , stadium point and bermuda ....

i take it that once they start on one that the rest will start together. they work 24 hours a day over there. BUT there is only 20 months left until completion.

I take it you are Irish as i am. .. do you know any other irish involved in this project??

Rory

[martinm]

hi rory pleased to meet ya, yes i am irish ,ithink i bought round the same time as you we whet over to dubai last nov met with profile called to ther office an they took me out to the site well we got so far and had to turn back as she said the traffic was bad i felt like a mug i just got this feeling that i was beening taking for a ride but i have one last payment as well before completeion but i will be ringing laranovo for them to prove that work has started an to get a finish date on paper to say that it will be finished on time an as to who the developer is.nice to know iam not alone in it ,stay in touch.

Originally Posted by martinm

hi rory pleased to meet ya, yes i am irish ,ithink i bought round the same time as you we whet over to dubai last nov met with profile called to ther office an they took me out to the site well we got so far and had to turn back as she said the traffic was bad i felt like a mug i just got this feeling that i was beening taking for a ride but i have one last payment as well before completeion but i will be ringing laranovo for them to prove that work has started an to get a finish date on paper to say that it will be finished on time an as to who the developer is.nice to know iam not alone in it ,stay in touch.

Martin,

The developer is Neo Solutions Ltd., I have never been to Dubai, but i am getting worried about this investment. Laranovo are full of ...t and i think they say what we want to hear.
Plot R911 (elevation) is what they own can they prove this? I do not like the idea of them using traffic jams to discourage you from seeing the site. Our money has gone into an Escrow account but what really does this mean!!!!.

They say now that all apartments are sold . But i got conflicting views from them the last time i made inquiries (around christmas). I had to go to another agent to find out the true facts.

I think i may put it up for sale !!. I have 40k gone into it already. They say it has increased in value by 20% ? So if this is the case i should get at least my 40 k back. What do you think?

rory

Originally Posted by DubaiMortgages

I would recommend to all, be careful of unknown developers. I have been in dubai since 1999 and i can tell you of one developer that went bust 4 weeks ago. Clients have lost $38m. Its a sorry sight as most people place upmost good faith in the developer. Regards, Dubai Mortgages
PS - Please note i am in NO way stating that this will happen with your development, just sending a word of caution.

Hi the developer is Neo Solutions Ltd ( developing the Elevation plot r911) Do you know of this company?

[martinm]

hi rory,iam abit in the dark to about it,but sometimes you just have to take a chaince in life,is your next instalment in july like mine?think i will ring laranovo tomoro,i had a friend who worked there for 2 m0nths but she left so dont know much more about it but she did say she could sell it 3 times over no problem,but i wood like to see proof that it has started an how far on it is? i think if we both contact them an say that we wood like to sell if theres no proof that it has started,theres strenth in numbers if you no what i meen.

Originally Posted by martinm

hi rory,iam abit in the dark to about it,but sometimes you just have to take a chaince in life,is your next instalment in july like mine?think i will ring laranovo tomoro,i had a friend who worked there for 2 m0nths but she left so dont know much more about it but she did say she could sell it 3 times over no problem,but i wood like to see proof that it has started an how far on it is? i think if we both contact them an say that we wood like to sell if theres no proof that it has started,theres strenth in numbers if you no what i meen.

Martin,

I have already said to them that i am going to sell. i am trying to arrange a meeting with Andrew Breth for this week. IF both of us approach him and find out what exactly is going on. we might find out exactly what is going on.

I have no problem staying with the project but i do not like to hear thing like the developer is changing or no work has started.

My tel no is 087 2752838

rory

[Satish K]

I totally agree with DubaiMortgages. When you are buying properties overseas always buy properties from reputed developers because as most of these properties are sold offplan.

[martinm]

Originally Posted by rory

Martin,

I have already said to them that i am going to sell. i am trying to arrange a meeting with Andrew Breth for this week. IF both of us approach him and find out what exactly is going on. we might find out exactly what is going on.

I have no problem staying with the project but i do not like to hear thing like the developer is changing or no work has started.

My tel no is 087 2752838

rory

hi rory, how did you get on with the meeting with breth?i have been flat out working havent got round to ringing them yet but i will when i rember that i must.

[jamesl]

martinm and rory, I also have bought a studio apt in this development. Has there been any further development since these posts?? Last I heard, I was told that the development would be delayed by up to 9 months, but that the final payment will still be due at the original date, early 2008. I find this unacceptable and told and told my solicitor so, but haven't heard anything back from him....a bit annoying!! If you guys are looking for strength in numbers, i'd be intertested in joining you. If you have any further information for me on this i would be very grateful.