City of Arabia

[chiquita]

MED said that fencing of AC already started and everything is under progress. And they are in the process of opening the escrow accound. This statement is from a manager of MED.

Originally Posted by John Alexander

Hi George do you really live in Dubai? If you really do then as you have invested in Arabian Crowne why don't you go to MED'S office over there and find out what the exact situation is with construction? Also when is the next newsletter coming from them?

[Roshan]

Originally Posted by chiquita

MED said that fencing of AC already started and everything is under progress. And they are in the process of opening the escrow accound. This statement is from a manager of MED.

City of Arabia can be viewed as a long term investment as the whole development will take a long time to come in.

Regards

Roshan

[georgihh]

Life time investment with no return.
The 99 years leasehold will expire before we get the keys

[chiquita]

What do you mean? You mean MED's stament is wrong? And I agree with you about long term investment then ow loooooong Roshan?

Originally Posted by Roshan

City of Arabia can be viewed as a long term investment as the whole development will take a long time to come in.

Regards

Roshan

[zhouguoyaogeorge]

[zhouguoyaogeorge]

Originally Posted by John Alexander

Hi George do you really live in Dubai? If you really do then as you have invested in Arabian Crowne why don't you go to MED'S office over there and find out what the exact situation is with construction? Also when is the next newsletter coming from them?

Hi JOHN

100% I LIVE IN DUBAI.

TODAY I TAKE NEW PHOTO FROM CITYSCAPE.

FIRST PICTURE YOU CAN SEE ARABIAN CROWNE IN THE SAME LOCATION

[John Alexander]

Originally Posted by Roshan

City of Arabia can be viewed as a long term investment as the whole development will take a long time to come in.

Regards

Roshan

Hi Roshan any property investment in any part of the world has to be long term. This is my experience.

Well what do you mean by long time to come in. Some people have been waiting for three and half years now and no sign of any construction. Not only that there has been no info coming from the developers about the projects in COA.

[Meztri]

Originally Posted by chiquita

MED said that fencing of AC already started and everything is under progress. And they are in the process of opening the escrow accound. This statement is from a manager of MED.

What "process" is required for opening an account these days? a 1 hour work or a few month process? This is confusing if not worrying!
and most importantly why are they "opening" the account themselves? Per definition, an escrow account must be held away from the developper to prevent them from free access to the funds, it is usually held by a notaire (someone sowrn and insured against claims, so if he pays the developper before or without work is done you can sue and get your money back).
In general, why would you trust the simple words of "a manager" at MED?

[zhouguoyaogeorge]

Originally Posted by Meztri

What "process" is required for opening an account these days? a 1 hour work or a few month process? This is confusing if not worrying!
and most importantly why are they "opening" the account themselves? Per definition, an escrow account must be held away from the developper to prevent them from free access to the funds, it is usually held by a notaire (someone sowrn and insured against claims, so if he pays the developper before or without work is done you can sue and get your money back).
In general, why would you trust the simple words of "a manager" at MED?

MED other 2 project ready with escrow account in dubai sport city

Project Name : Red Residence
Developer Name : M E Development Llc
Master Developer : Dubai Sport City Llc
Project Name : Red Residence
Trust Acc. Number : AIB/1000253334
Bank Name : Arab Bank For Investment And Foreign Trade


Project Name : Kensington Royale
Developer Name : M E Development Llc
Master Developer : Dubai Sport City Llc
Project Name : Kensington Royale
Trust Acc. Number : ABI/1000253326
Bank Name : Arab Bank For Investment And Foreign Trade

PLS check it from dubailand department
Welcome to the Official Dubai Real Estate Community

i think arabian crowne escrow account will coming soon.

[John Alexander]

Originally Posted by chiquita

MED said that fencing of AC already started and everything is under progress. And they are in the process of opening the escrow accound. This statement is from a manager of MED.

Hi Chiquita Med has been in the process of opening an Escrow account for AC and Windsor for the past six months.I am sure it does not take this long. They have already opened the Escrow accounts of their projects is DSC which were sold after their COA projects. This was a while ago.