City of Arabia

[John Alexander]

Originally Posted by Meztri

Spot on John, That needs to be adressed... why aren't those projects registred?

Hi Meztri,
The projects may have been registered, but I am talking about the individual apartments within the project. They have to be registered under the owners name with the offplan projects.
There is a procedure to do so but it does cost some money and has to be done by the selling agent or the developer.

So it is not the end of the world.

[chiquita]

If you want to check RERA(Real Estate Regulation Agent) approved project,developer,escrow account, and land registration, check this website.
http://www.rpdubai.com
MED is definitely registered. One thing I need to check about Arabian Crowne and windsor is this. When you click the developer of AC and Windsor you don't see MED but something else. Can you check and let me know?

Originally Posted by John Alexander

Hi Meztri,
The projects may have been registered, but I am talking about the individual apartments within the project. They have to be registered under the owners name with the offplan projects.
There is a procedure to do so but it does cost some money and has to be done by the selling agent or the developer.

So it is not the end of the world.

[chiquita]

If you check http://www.rpdubai.com and click Arabian Crowene, you will see this iformation. Who is this developer? and what does trust acc number: up mean?

Developer
Project Name : Arabian Crowene
Developer Name : Mubeen Limited
Master Developer : Dp

Trust Account
Project Name : Arabian Crowene
Trust Acc. Number : UP
Bank Name : N/a

[sat]

Hi All,

Please see construction update August 2008 received from COA.

Below are the project and completion dates:


1 Mall of Arabia 4th Quarter of 2010
2 Wadi Walk Zone 1-4 1st Quarter of 2010
3 Wadi Walk Zone 5 2nd Quarter of 2011
4 Wadi Walk Zone 6-6A 3rd Quarter of 2011
5 Towers [Wadi, I&M, Metro] 1st Quarter of 2010
6 Roads & Infrastructure 1st Quarter of 2009
7 Landscaping Works 1st Quarter of 2011
8 Substations 1&2 2nd Quarter of 2009
9 Substation #3 (if commissioned) 3rd Quarter of 2010
10 District Cooling Pipework and Plant 2nd Quarter of 2010
11 Automated People Mover 3rd Quarter of 2011
12 Restless Planet 4th Quarter of 2010


Substations:
Mall Substation: Completed roof concreting.
Wadi Substation: Completed raft foundations, and basement and columns up to ground floor level.

Roads and Infrastructure Works:
Bridge 1: Waterproofing and backfilling 98% complete
Bridge 2: Southside approach slab completed.
Bridge 3: Completed, snagging works ongoing
Bridge 5: Backfilling of retaining wall ongoing.
Irrigation Tank: Structural works completed. Ongoing waterproofing and installation of M & E equipment.
Sewerage Works = 99% complete
Drainage Works = 96% complete
Irrigation Works = 98% complete
Telecom Works = 57% complete
Water Works = 72% complete
District Cooling:
District Cooling Pipe Network = 85% completed

Mall Concrete Structural Works:
Pile Head Trimming = 77% complete
Excavation = 80% complete
Soil Disposal = 62% complete
Preparation for blinding works ongoing.

Wadi Walk Shoring Works:
Zone 1 completed
Installation of RC Panels ongoing.

Wadi Walk Zone 1:
Mobilization and enabling works are ongoing

Works for Towers – Plot Nos. 30-10 (Wadi Tower), 45-01 & 45-02 (Metro & I&M Towers):
Wadi Tower (30-10) = (TM04) Piling works completed; ongoing pile testing.
Wadi Tower (30-10) = (TM01) Tenders being reviewed for selection of Main Contractor.
Metro and I&M Towers (45-01 & 45-02) = (TM04) Contractor awaiting DM’s issuance of permit to start with the piling works.
Metro and I&M Towers (45-01 & 45-02) = (TM02) Tenders being reviewed for selection of Main Contractor.

Restless Planet:
Ongoing design for the Rides and Dome Show
Animatronics: 35 Dinosaurs complete

[zhouguoyaogeorge]

I can not believe the tower will be completion 1st Quarter of 2010

from now to 1st Quarter of 2010 only 17 month.

the tower is G+45 floor still now the developer being reviewed for selection of main contractor.


Metro and I&M Towers (45-01 & 45-02) = (TM04) Contractor awaiting DM’s issuance of permit to start with the piling works.
Metro and I&M Towers (45-01 & 45-02) = (TM02) Tenders being reviewed for selection of Main Contractor.


I think the tower completion date is 2 quarter 2011

[Pdubai]

I have a friend who wishes to sell a 1bed in City of Arabia
Total Selling Price: AED 1,072,867
Let me know if there is any interest

[John Alexander]

Hi George,
I agree with you that most of the projects in COA could be completed in 2011. Also if the Mall of Arabia and restless Planet are not going to be ready until the last quarter of 2010. So there is no point in other projects in COA being ready before that time.

George I wonder wether you could do a favour . I had sent an email to MED trying to find out wether our individual off plan apartments are pre regisetered with the Dubai Land Department in our name, but have not had any reply.
Apparantly I have been informed by an agent that they cannot put an off plan apartment on the resale market as it needs to be pre registered with the land department. The reason was it cannot be transfered to a buyer if it is not pre registered with the dubai land department in the sellers name.
So George is it possible for you to cheCk with MED that all our off plan apartments are pre registered with Dubai Land Department in our names for Arabian Crowne. I am asking you as you live in Dubai.

Thanks

[bendubai]

is real estate regulatory authority registration in dubai have time limit as real estate broker ???

[Meztri]

I have checked few months ago, none of all those projects was RERA registered. I hope this has changed, but that is the first thing to check whether the entire projects are RERA registered or not. If they were; then Escrew accounts held by a Notary would have been setup, communicated to investors and all the money kept there till works start.
RERA is supposed to be there to protect investors from phantom developpers and allow them to ensure the (off-plan) projects are real, the developpers are compliant and the money is safe.
I was not aware of individual registrations for uncomplete appartements, the entire off-plan project must be approved and registered, not each individual appartment.
George, kindly confirm if any of these projects is compliant with RERA? if some of them are registration numbers and references must have been issued and obtainable. thanks

[sgmasey]

Originally Posted by Meztri

I have checked few months ago, none of all those projects was RERA registered. I hope this has changed, but that is the first thing to check whether the entire projects are RERA registered or not. If they were; then Escrew accounts held by a Notary would have been setup, communicated to investors and all the money kept there till works start.
RERA is supposed to be there to protect investors from phantom developpers and allow them to ensure the (off-plan) projects are real, the developpers are compliant and the money is safe.
I was not aware of individual registrations for uncomplete appartements, the entire off-plan project must be approved and registered, not each individual appartment.
George, kindly confirm if any of these projects is compliant with RERA? if some of them are registration numbers and references must have been issued and obtainable. thanks

I have had it confirmed recently, by my agent, that the arabian crown and windsor projects do not have escrow accounts set up currently, but will, once construction gets underway, why does construction have to begin before an escrow account is set up for these two projects?

Does anyone know where the funds/deposits for these two projects are being held?

rdgs

stuart