International City - China Cluster

[Sadozai]

Hey A***ta,

I did'nt speak to MBC ppl on the phone but emailed them at info@mbcrealty.com without any response.... then I asked a friend in dubai to talk to them, the guy Naresh said that the apartment keys will be handed over in a month, since they have'nt made the final payment to Nakheel, Nakheel is not registering or handing over any units untill MBC pays Nakheel the remaining 30% amount.

Do you have an apartment in China E7??? mine has'nt even been registered in my name yet

[Javaid Kamar]

Hello Sadozai,

I too am having problems in China E7.

I bought three apartments as well in September 2005. I was originally booked in China F8 but my agent Gowealthy double-booked and I have been shifted four times now and have ended up in China E7.

I too have not had a Nakheel contract (Unit Sale and Purchase Agreement) back yet.

I will definitely demand cash compensation from Gowealthy if I do not get my apartment and will take legal action if I do not get it. Having said that Gowealthy have offered me a cash premium but I am going to hold out and try and get my apartment.

Best of luck

[amrita]

Hey Sadozai & Javed Kumar,
I have an apartment through MBC Realty in Persia N10. But when I asked for handover , Naresh said he is busy with E7 handover which will be done by end of March. Now it seems this is not happening. So I have created a template of a complaint to MBC Realty which my husband who is currently in Dubai can take to MBC Realty. Nakheel has already confirmed to him that they are ready to handover as soon as they get the payment from MBC . Could you sign this letter & let us start to put a common pressure on MBC Realty. It is sickening that we have to suffer because other people don't pay.
If you know any more people who have invested with MBC , please also pass on this letter

[wayneis]

A***TA you should post your experience to let others know what you are dealing with

[Sadozai]

hey a***ta,
thanx for the complaint template, but i doubt it will achieve anything, i was considering legal action against MBC as i mentioned in my earlier posts, but my friends in Dubai advised me against it. I don't think MBC will even respond to our letter let alone compensate us. I guess this kinda pain always accompanies while investing in Sheikhdoms. btw what r the rights given to us in the Nakheel contract, i have'nt even received that yet

[Ameer]

The contract gives all the rights to the developper including a delay of one year in handover. We have practically no rights...

I bought in france and did get the contracts with Nakheel a long time
ago just to realize that balconies have gone...tried to complain but
contract says they have the right to modify things...I wrote about this
almost one year ago

We simply have no right...

[Sadozai]

Damn, no balconies???? I haven't seen my apartments, hope they have the balconies, otherwise it'll feel like a jail cell as far as the 1 yr delay right is concerned, hasn't this project been delayed for more than a year already??? 1st owners please advise..

[laguna33p]

I was under the impression that compensation was payable to the buyer if a delay had occurred over 6 mths. I have checked my contract, the anticipated completion date was dec 2006, but it says the buyer is only entitled to the amount he/she paid in the first palce if there is a delay of 6 mths or more. Well who wants the original amount back when clearly one could re-sell their apartment for a lot more. But I am sure it says something about compensation in the contract, will have to read it again.

[amrita]

Hello Sadozai,
I am also sure we can't get any compensation, the rules in Dubai are not investor friendly currently....I just wanted MBC to know that now they are dealing with a group of people together rather than individual unit owners. It will hopefully make them sit up. I am sure the threat of going to the newspaper will get them worried, because they wouldn't want any bad publicity.

[Javaid Kamar]

Hello A***ta,

I have only just noticed your compaint template/petition. I would definitely add my name to your petition, but I have not actually had any dealings with MBC Realty yet. I have dealt entirely with Gowealthy so far, and it is against them I have the complaint.

I am prepared to give Gowealthy more time, but like Sadozai, I haven't even received a Nakheel contract for China E7, so I am completely in limbo at the minute.

Thank you anyway for your suggestion