City of Arabia

[DAYFox]

I spoke to Galadari just yesterday again. My standpoint was not to sign the second Addendum. They told me I can send them back the Addendum unsigned and go ahead with the old payment plan -so far so good i thought at the beginning. Then I ask at what time they will pay the compensations. The lady said 'First our lawyers will analyse if you have paid all installments ON TIME, if just one installment is delayed by one day you will not get ANY compensations'. I payed some installements on time, some even a few month earlier and 1 3month later, because they told me personally not to do further payments because construction is delayed. This was my mistake that i listend to them and payed later... Now i have to sign the Addendum, because i will not get any compensations -thats for sure!
I will just sign it now and send it back. I don't care anymore! My hope is that the building will be ready end of 2009 but yesterday the developer told me that the building is STILL NOT UNDER CONSTRUCTION... Iam not sure if they ever will start...

[jordandvdj]

i too am a little peeved. galadari are just delaying and delaying. i could have bought jlt for the same price and i can see it going up. i see today that dubai properties have announced that beach clubs and gyms have been scrapped. i can see all the 'high' quality aspects of coa going down the pan. if i could go back i would only buy a property i could see being built. startingto think coa is a white elephant. if the offered me my deposit back i would take it. anyone want o buy for 600,000 under current price to take it off my hands. you can have a 2 bed for 1.6million against the 'from' 2.2 they are asking. should have bought in florida as was my first plan. very very dissappointed with the crap coming from galadari. i can see an ikea flat being handed over with no gym, service elevators and a pool complex you have to pay to join. all optimism gone. coa is never going to be what was planned. all bull**** in my opinion.

[jordandvdj]

to clarify - those who bought JBR from DP have been stiffed. the luxury items on the contract have been cancelled. robbing bastar**. can see COA being exactly the same. dubai - the new beirut in 10 years. total crap and premeditated lies.

[DAYFox]

I don't see it that bad as you both do... It all will be delayed by three years but still you will get what you have paid for, thats what iam sure about it! Just wait -a little bit longer than we have calculated in the beginning- and you will make some decent profit from your investment!

[chiquita]

hello jorge, do you hear any news from MED? please let me know.

[chiquita]

hey dayfox, what makes you so positive? do you hear anything from something reliable?

Originally Posted by DAYFox

I don't see it that bad as you both do... It all will be delayed by three years but still you will get what you have paid for, thats what iam sure about it! Just wait -a little bit longer than we have calculated in the beginning- and you will make some decent profit from your investment!

[FlipItFast]

Originally Posted by DAYFox

I spoke to Galadari just yesterday again. My standpoint was not to sign the second Addendum. They told me I can send them back the Addendum unsigned and go ahead with the old payment plan -so far so good i thought at the beginning. Then I ask at what time they will pay the compensations. The lady said 'First our lawyers will analyse if you have paid all installments ON TIME, if just one installment is delayed by one day you will not get ANY compensations'. I payed some installements on time, some even a few month earlier and 1 3month later, because they told me personally not to do further payments because construction is delayed. This was my mistake that i listend to them and payed later... Now i have to sign the Addendum, because i will not get any compensations -thats for sure!
I will just sign it now and send it back. I don't care anymore! My hope is that the building will be ready end of 2009 but yesterday the developer told me that the building is STILL NOT UNDER CONSTRUCTION... Iam not sure if they ever will start...

Mmm so if you pay just 1 instalment 1 day late, you lose any entitlement to compensation?

I bought in last fall, put down 10% then waited for the contract. Ignored the Dec instalment until I got the contract in Jan-07. Then waited for my lawyer's comments and Galadari's answers to my queries. And waited. The latter didn't come, no one is answering the customer service email address.

I tried numerous times to call, couldn't get through, no one would return my calls. By this time 2 instalments were overdue. Most organisations would be calling you to chase the debt. But Galadari seem to be very relaxed in this regard. Perhaps because now if they miss the long-stop date, there is no compo...

Eventually I did manage to get thru by phone, got my queries answered and paid the overdue amounts like a good little boy.

Keep the faith.

[DAYFox]

I spoke a few times to the developer and they confirm on the one hand that there are delays etc but on the other hand they say that from now on it will go fast... Infrastructure is ready, Mall of Arbia already under construction, Wadi walk is digged out so it would make no sense at all if they decide now to cancel the project! Therefore I conclude that your investment will be worth in the future. Lets talk one year from now again about this topic once at least the podiums of some buildings are done!

[sat]

I have spoken to Prisiclla head of customer relations today who has confirmed they are hoping the podium to be done by August and they have not changed any of the plans i.e not having a health club etc.

I have a unit in Wadi Tower and I&M and had a very long meeting in April with the director of sales Mr Khan who has told me a very big announcment will be made this summer about an ICONIC structure for COA. I myself have seen the orignal plans for the structure which the Dubai Goverment have now taken over from COA as they want themselves to build it and COA are now on in talks now to devleop it together. I was told the goverment is looking at changing the plans to build something in my opinion which would be better even though the orignal plans were very impressive as it would have crossed the emirates road and would be a landmark building as impressive if not more than the Burj Tower in Business Bay.

Has investors does not matter to us who builds it as long as it built where they say. You will see on the master plan there is an area semi-circle which goes from coa across to e***ates road. i was told Galadri's had kept that bit of land to build this ICONIC building.

[towers]

sat is right there will a stucture it will be the worlds tallest twin towers in the world.the gateway to city off Arabia.I all so had meeting with mr khan .it will be made public in the next 6 weeks prices will boom when made public av seen the plans and the model wow its brill.podium will be ready in 3 towers by September .I am good friends with some off main people there .prices will start from 2000per sq foot by September .the mall will not be ready 2010 was told by 2012 but the towers will be in place by 2010 June prices will start from when complete 3000 per sq foot .hang in there guys.