Anybody with info regarding Dunes Residence in Dubai Sports city

[mubinirl]

Anybody with info regarding the dunes residence by Dubai Dunes can you'll please come forward & update as to whats going on in the company..the project's been delayed by 2 years & still theres no sign of starting..Nicole just keep saying that somethings in the pipeline & they are gonna start work soon..but i am hearing that since Jan 2010...Please come forward with some info or updates...

Many thanks,

A worried investor...

[SaleBg]

Originally Posted by mubinirl

Anybody with info regarding the dunes residence by Dubai Dunes can you'll please come forward & update as to whats going on in the company..the project's been delayed by 2 years & still theres no sign of starting..Nicole just keep saying that somethings in the pipeline & they are gonna start work soon..but i am hearing that since Jan 2010...Please come forward with some info or updates...

Many thanks,

A worried investor...

Hi,
I'm from Serbia and also a very worried investor of Dunes Residence.There is a 2 year standstill,correct me if i'm wrong.Sorry but like you i don't have any news about the project.Anyone?

Thanx

[Sportsman]

They are trying to team up with another finance or construction company. For now they've been struggling to find the right partnership.

They are quite transparent and very open about the situation, which is a nice change in Dubai. They also have a very good site in DSC, but the reality is that the foundation is there but nothing is progressing at the moment.

I am hoping to hear some better news soon, but the waiting and delay is frustrating....

S

[mprez]

Originally Posted by mubinirl

Anybody with info regarding the dunes residence by Dubai Dunes can you'll please come forward & update as to whats going on in the company..the project's been delayed by 2 years & still theres no sign of starting..Nicole just keep saying that somethings in the pipeline & they are gonna start work soon..but i am hearing that since Jan 2010...Please come forward with some info or updates...

Many thanks,

A worried investor...

Its sad to find so many projects on hold and cancelled and investors do not have a practical way out of them. I suggest you take an initiative by yourself ... read the following:

Smith and Ken launches Real Estate Recovery Scheme | Smith and Ken Real Estate | AMEinfo.com

The information provides that investors can swap the property with a completed and can actually invest in something real. The agency is also choosing to pay investors back their lost funds so the investor is in a win win situation.
I have dealt with them in the past to the organization is reliable and they have very good customer service.
I think its worth giving them a call.

Dubai Real Estate Recovery Scheme - RERS, Dubai Property Swap Shop

[mubinirl]

After speaking to developer, there doesnt seem to be anything in sight in terms of starting the project; As for cancellation he said rera might only give you 70% of your money back although its the developer fault; Seems like legal action is the only way forward to recover 100% of money back. By any chance would the court also reward the legal fees & interest / compensation. Any feedback welcome...

[Sportsman]

Another sad story.....developer had good intentions but no experience and just another fly by night operation.

They have a good location in DSC, and they might just find a partnership but if not, it'll be a long wait for any refunds. Not sure about any success in court, but I'd be willing to fight as well.

[mubinirl]

Just been to their office today & found out that their office has been sealed by Dubai Court..screwed up...say goodbye to your money now...I upload pics for your ref.

[Sportsman]

If you find out anymore details, please let us know. I have a substantial amount invested, so please forward any other info.

I know this Pakistani guy has other businesses, so we need to find out his other interests and get the authorities to lock him up until he pays his investors.

[mubinirl]

On my last meeting with Abul & Eddie, he gave me his new business card for HAWT energy & if you do a search for that it will give you that business on the same address as DUNES RESIDENCE & he was very clear about it that once he completes dunes residence they will close the real estate.

[Sportsman]

I was aware of the other business as well but you simply can't just close out one business, scam investors and start another..... these guys are just more con artists from Pakistan.

I am owed all my deposit money from dunes lilac as well, not to mention the 40% from dunes residences. They said they don't have any money left and to give them some time.... I guess give them some time to shut the operation down and close the doors !

Turns out these guys have no real estate experience and are just scam artists. If you have any info as to how to proceed, please pass it on. I will do my own very shortly.