Any body heard of Manchester Sports Towers Sports City

[Roshan]

Originally Posted by mpat

I agree with Roshan.I feel that authorities are in the process of eliminating such un reliable developers from the market but it will take time and they cant be successful in totality , so each buyer should make thorough investigation about the property and the developer.If required ,one should not hesitate to visit Dubai 2 -3 times before finalising .

When we invest in funds or stocks we do research right. Real estate is no different, one has to put in efforts and research before investing.

[has]

I am new to this website. I just wanted to know if people are out there who have brought appartments in manchester sports tower 1?

I brought one in march 06 and so far have paid 20%, they recently sent a letter stating that the tower is not going to be built due drawings not being ready. I want to see the company in dubai in Jul 07 and was told that drawing are submitted and construction will start in 6 months. They have been really bad becasue now I have lost out on the property prices in dubai and money I could have made if the money is my account and not their account.

They are now offering full refund but when I have lost my opportunity of the price rise. When I went to see the company I was told that my appartment has risen by £10K but now its not going to be built. do other people out have had similar experience? will anybody be seeking compensation?

[Roshan]

Originally Posted by has

I am new to this website. I just wanted to know if people are out there who have brought appartments in manchester sports tower 1?

I brought one in march 06 and so far have paid 20%, they recently sent a letter stating that the tower is not going to be built due drawings not being ready. I want to see the company in dubai in Jul 07 and was told that drawing are submitted and construction will start in 6 months. They have been really bad becasue now I have lost out on the property prices in dubai and money I could have made if the money is my account and not their account.

They are now offering full refund but when I have lost my opportunity of the price rise. When I went to see the company I was told that my appartment has risen by £10K but now its not going to be built. do other people out have had similar experience? will anybody be seeking compensation?

That's sad news. I always believe in paying more and going for a good developer. Can u give me the name of the developer.

Does your developer figure out in the list of approved developers. I have attached a link, pls have a look.

If he is, then a last shot would be to send an email to the RERA authorities and ask them what action can be taken. I think you should sue them for compensation.

I feel that the developer has decided to scrap the project because :

He could not absorb the increase in materials, which is like 40 to 50% in the last year.

He was planning to fund the project through the funds he received from investors which has back fired because of Escrow.

Approach a lawyer and look into the possibilities of getting a compensation.

Good luck

Roshan

http://www.dubailand.gov.ae/ld_websi...loper_list.pdf

[has]

Thank you for your reply. The list is really helpful, I did ask them that are they on the Approved Real Estate Developers List but never got a reply.

The company is called Manchester Real Estate Group and is owned by Mr. Abdul Aziz Lenjawi. They are not on the list. I would advise people to stay away from them.

Could you recommend any lawyers in Dubai which I can contact? Also do you have recommendation any recent projects which will be good investment or is it now too late to take advantage of price rises?

Thanks

[Roshan]

Originally Posted by has

Thank you for your reply. The list is really helpful, I did ask them that are they on the Approved Real Estate Developers List but never got a reply.

The company is called Manchester Real Estate Group and is owned by Mr. Abdul Aziz Lenjawi. They are not on the list. I would advise people to stay away from them.

Could you recommend any lawyers in Dubai which I can contact? Also do you have recommendation any recent projects which will be good investment or is it now too late to take advantage of price rises?

Thanks

Always stick to good developers. I will try and find an advocate for you in Dubai.

It's never too late to invest in real estate. The people who come in early realize good appreciation. Property markets are cyclical and over a long term are never a loss.

Good luck.

Roshan

[Rammah]

Originally Posted by has

Thank you for your reply. The list is really helpful, I did ask them that are they on the Approved Real Estate Developers List but never got a reply.

The company is called Manchester Real Estate Group and is owned by Mr. Abdul Aziz Lenjawi. They are not on the list. I would advise people to stay away from them.

Could you recommend any lawyers in Dubai which I can contact? Also do you have recommendation any recent projects which will be good investment or is it now too late to take advantage of price rises?

Thanks

If you want anything from DAMAC, let me know and I'll be able to advise on the best available projects and units depending on your budget, type of investment that you prefer, etc...
If you want me to call you and go through it all, pm me your number.

Rammah

[Arf]

Originally Posted by has

I am new to this website. I just wanted to know if people are out there who have brought appartments in manchester sports tower 1?

I brought one in march 06 and so far have paid 20%, they recently sent a letter stating that the tower is not going to be built due drawings not being ready. I want to see the company in dubai in Jul 07 and was told that drawing are submitted and construction will start in 6 months. They have been really bad becasue now I have lost out on the property prices in dubai and money I could have made if the money is my account and not their account.

This sounds similar to my experience with Manchester Crescent, their 5-storey development in "International City". I have paid c.35%, and now have a very bad feeling about this . I emailed them a few days ago but so far no reply. My last communication from them was last August. Any suggestions as to how I should pursue them for a refund (as per the contract)?

[Arf]

Follow up - doing some digging in Companies House, it appears the UK end of "Manchester Properties Ltd" was dissolved on 29/01/2008. No accounts were ever filed. Looks like I can kiss my money goodbye, unless someone's got any suggestions....

[Rammah]

Originally Posted by Arf

Follow up - doing some digging in Companies House, it appears the UK end of "Manchester Properties Ltd" was dissolved on 29/01/2008. No accounts were ever filed. Looks like I can kiss my money goodbye, unless someone's got any suggestions....

who was the developer? You had a bank guarantee?

[Roshan]

Originally Posted by Arf

Follow up - doing some digging in Companies House, it appears the UK end of "Manchester Properties Ltd" was dissolved on 29/01/2008. No accounts were ever filed. Looks like I can kiss my money goodbye, unless someone's got any suggestions....

Give us more details like phone numbers in Dubai, probably we can make some enquiries. How much of the total value you paid. Put your details like the contract copy on the forum and let's see how we can help out.

Roshan