Lincoln Park Dubai (Damac)

[marksols]

I know that DLA Piper, a well respected firm have offices in London dealing with claims against developers as a work colleague of mine knows one of the partners in the law firm and he has spoken with him.

I am a lawyer myself but not a commercial one.

If you are interested in having me email them, please let me know. My contact is on an earlier posting on this thread.

To instruct them properly it will mean pooling information as it is quite clear from this thread that we have all had differing experiences and information fed to us.

I am happy to draw up the list of salient points, if you all email me.

If anyone has a firm in mind in Dubai, all the better.

Regards

Mark

[PKI]

Hi All,

I have read my contract again and found this clause - 5.1
"It is recorded that the Anticipated Completion Date represents the date upon which it is presently expected that the Unit will be ready for occupation. The Seller reserves the right to extend the Anticipated Completion Date by a period of up to twelve (12) months"

As far as I can tell from that, at the latest, the development should be ready for occupation by this month. THerefore, Damac are in default. I am going to write and tell them this (quoting the above) and see what happens (probably nothing).

Marksols - I will email you later with my Damac saga (some of which I posted earlier in this thread)

[propworx]

There is another clause that states if you terminate the contract Damac can keep 40% of the development cost and demand more if they feel that an investor has put the development at risk.

I am in for a collective colaboration

[PKI]

Hi Propworx

Yes, I saw that clause, but as I understand it, if they are in default, then cancelling the contract is as a result of something they have done (or not, in this case) - do you know what I mean?

I believe the 40% clause is if a purchaser defaults, they can keep up to 40% (though hopefully superceded by the newer national legislation). In this case it is the seller/developer defaulting.

Does this make sense?

[magimix]

dubai property1; I came across a forum where im assuming you asked some questions about lincoln park aswell (well, the posts were by an azadforty)..i'm just wondering whether you ever contacted the member who mentioned he knew 25people who took damac to court and what their story was...i cant leave that member a PM and he doesnt seem to have logged on there since january this year..

[magimix]

Marksols:i would be interested but am wondering what DLApipers fees are likely to amount to(just around-about) and have they won many of the cases they have taken on?A uk based reputable law firm might have them coughing up a little sooner than someone based in dubai, would you agree??

anyway, I am also, over the next week or so, going to look in to the possibility of contacting a solicitor out there so will keep you posted..

[magimix]

katiebirdie:i have an email from a friend referring to a completion date of but if your contract says completion july 2010,that has to be useful..theres no mention of a completion date in my contract(i don't know why i didnt question this at the time

does anyone know what marina terrace co.is/was?

[midnightblue]

My contract does not mention a completion date so I am stuck. I do not want to loose 40% of my deposit to Damac I do not want to pay fines and I have also been advised that legal action would cost tens of thousands of ponds. So what now? Do I throw caution to the wind and hope for the best by sitting it out? Or do I walk? I will sit out because defaulting or forfeiting the project may be costly.Any thoughts pm me please aliz121@hotmail.com

The link bellow shows what is going on in the area Mizin master projects in Arjan
Masterplanned Projects by Mizin - SkyscraperCity

[malik67]

I have seen the project .they have erected pillars only. I dont think this project is worth investing more money as with the remaining 60 % you can buy a ready apptt. I,m planning to go to court .I live in uae.

[magimix]

Midnight blue..you wouldn't be losing 40%, it would be 30% of the total you've paid so far, not the total purchase price..there've been changes to the law since we all signed up..these changes came about as the high court recognised that some of the stipulations in contracts were illegal/contradictory.....

its fairly clear..if the developer is at fault ie they don't finish a project on time, they pay fines and must return all our money but obviously each case is looked in to on an individual basis..

if we default, by not paying, they can terminate the contract(which we could force them to do if we all don't pay)and they must inform RERA..RERA must give us 30 days to address the matter..if we still don't pay up, the developer is only allowed to keep 30% of the total amount paid to them, not the total price of the property

no point in looking at their website updates either..they cant be trusted

in conclusion: DON'T PAY THEM ANYMORE MONEY
*******************************
We need to stick together on this one

Can people who have already replied on this forum indicate whether they are going to pay or not.

i won't be paying.too short a notice.can't get the money together.i don't trust them, the project is a sham