City of Arabia

[jordandvdj]

Appointment with who?

[bisto]

Originally Posted by junaidrafique

Ok Bisto, what is the reason then for the delays. Please elaborate if you know the Galadari family. You may be helping people here who are genuinely worried.

Mate, all projects in Dubai are delayed with no exception whatsoever, COA is one of them, for the fact that they have done the infra-structure first does not help you and me to see the progress, because its all under the sand. simple go and see the site. they are working actively. The big problem that worries me as an investor is they dont care about sharing the news, they definitly failed to addess their investors properly but then yeah no surprise, this is the middleast. this is how they work as long as they know what is going on they dont feel obliged to update investors or keep them in the picture. havign said that obviousley there are issues on the project because simply its MASSIVE project, but rumour such as the brothers are fighting etc. this is simply not true.

[John Alexander]

Hi, It will be nice when the projects of COA take off.

A friend of my bought an off plan villa in Palm Jumeriah four years ago and now it is worth five times what he paid. It was ready this year. He had an offer of this amount which he refused.

And here am I more than three years after I bought an apartment in COA and do not know what is going on. Do not know how much it wll be worth when it gets ready and when.

What a difference between the two projects in Dubai.

[chiquita]

You mean the price in dubailand might be around 4,000 dhm / sqf in 2011?

Originally Posted by John Alexander

Hi, It will be nice when the projects of COA take off.

A friend of my bought an off plan villa in Palm Jumeriah four years ago and now it is worth five times what he paid. It was ready this year. He had an offer of this amount which he refused.

And here am I more than three years after I bought an apartment in COA and do not know what is going on. Do not know how much it wll be worth when it gets ready and when.

What a difference between the two projects in Dubai.

[John Alexander]

Originally Posted by chiquita

You mean the price in dubailand might be around 4,000 dhm / sqf in 2011?

I meant the price increase for the Villas in Palm Jumeriah has been phenomenal. Very good return in fours years whereas in my COA project not a lot can be said after more than three years of waiting. It has not even started never mind the completion.

Investment is all about how much one can gain in how many years. The shorter the time the better.

[Meztri]

re: Conspiration
Ask for a full refund through an independant lawyer. You can use a UK based who have partners/associates in Dubai. The sooner you do it, the bigger the chance to get your money back.

I admired the "a massive amount of work was done UNDER THE SAND" line and enjoyed "they really have worked very hard and made massive progress UNDER THE SAND but simply and in a typical MEastern manner, failed to communicate it to their investors" one, GET LOCAL & INDEPENDANT LAWYERS TO CHECK THE OFFICIAL STATUS OF YOUR PROJECTS AND INVESTMENTS, AND EXPLAIN TO YOU WHAT ARE YOUR RIGHTS AND OPTIONS VIS A VIS DEVELOPPERS.

[hippie]

Hi I bought a two bedroom apartment in the Arabian Cown, recieved my contracts and have paid in full my half of all my payments in advance. I am trying to find outs whats going with the investment and have contacted MED with no response.

I'm not sure what to do and what the completion dates are any advice much appreciated. I'm in limbo do I go to dubai and speak to MED or just stay put and have patience its worrying me a bit as I have put all my life savings into this please help anyone

[John Alexander]

Originally Posted by hippie

Hi I bought a two bedroom apartment in the Arabian Cown, recieved my contracts and have paid in full my half of all my payments in advance. I am trying to find outs whats going with the investment and have contacted MED with no response.

I'm not sure what to do and what the completion dates are any advice much appreciated. I'm in limbo do I go to dubai and speak to MED or just stay put and have patience its worrying me a bit as I have put all my life savings into this please help anyone

You should approach your agent who sold you the unit in the first place.
It looks like you have aid 50% of the payments. Ma be you were getting some discout as there was no need to paythat muc as the purchase is linked with construction ofthe structure I have only paid 30% .
Next pament is due when the podium is ready which will be some time next year. At the moment no construction has started yet. I contacted my agent yesterday and he informed me
The whole project may not be read until 2011 I believe.
The worst thing is there has been no buyers for resale at the moment.May be things will improve when work starts.

[hippie]

Hi john thanks for the reply I actually bought from MED directly in dubai been trying to chase them for an explanation but no luck. I will keep trying all I want is an exact time of completion. I have paid all my installments in advance in full even before all is complete and the remaining will be on finance once the place opens does anyone what the yearly or monthly repayment figure will be so in actual fact I have put up 100% of payemts from my side I thought I would just get it out of the way

[John Alexander]

Originally Posted by hippie

Hi john thanks for the reply I actually bought from MED directly in dubai been trying to chase them for an explanation but no luck. I will keep trying all I want is an exact time of completion. I have paid all my installments in advance in full even before all is complete and the remaining will be on finance once the place opens does anyone what the yearly or monthly repayment figure will be so in actual fact I have put up 100% of payemts from my side I thought I would just get it out of the way

wELL Hippie it lookslike you have got this 50% finance from MED. Your post is not clear. If you wish to know what your monthly repayments will be then only MED can inform you that. You should ask them
Also there is no exact date of completion as nothing in Dubai is on schedule at the moment. The last revised date was end of 2010 But that looks unlikely now.