Dubai Lagoon on Hold! Schon Properties Delaying with no reasons

[mcjidim]

Originally Posted by daflanger

A Group of investors have decided to meet on Saturday, 26th of July @ 7 pm at Mall of the Emirates - Costa Cafe to discuss officially employing a law firm to handle our situation.

We will no longer contact Schon directly. The law firm will handle our situation. If there are any Dubai Lagoon Investors out there, please try to make it to the meeting. We will also keep you posted on what happens in the meeting

I read this post a little late. I am also a Dubai Lagoon Investor. Please advice how can i join the party

[mcjidim]

Please record your complaint against Schon Properties with RERA at the following link

http://rpdubai.ae/rpdubai/ComplaintA...do?method=save

[Gashead]

Originally Posted by daflanger

If the project gets cancelled.... Schon Properties is up for a collective Law Suit!!!

We have already approached RERA and they said they are no longer accepting complaints on developers and that we have to take it up with Dubai Court!!!!! This is crazy!!!

We are being forced to pay!!! What the hell????

There is no such thing as a collective actuion under UAE federal law, in fact it is illegal.

[reasonant]

serve a legal notice, request mediation, or take up the matter legally (yes, file a complain before RERA authorities as well).

[bapu]

Originally Posted by mcjidim

I read this post a little late. I am also a Dubai Lagoon Investor. Please advice how can i join the party

dubailagoon(.)proboards81(.)com

remove the brackets...i can't post any links....

[bapu]

Thanks to Jamal, Nedal, RERA and Dubai Eye (103.8)


Jamal Sirhi, and Nedal Ghaith, two Dubai based property investors, and Khawla Madani, Senior Legal Advisor at RERA, discuss Schon's troubled Dubai Lagoons project. Madani states that legally, investors have a right to claim compensation on top of their original purchase price.




The radio interview is here:
zawya com

[mcjidim]

I have already paid them 60%. Is there anyway i can take some back

[KS1]

I was informed this morning that they are now scrapping all the original plans and re-zoning. My apartment, which should have been ready December 2008 is now scheduled for completion in March 2011. I was told that compensation would be decided on handover, the formula for calculating the same had not been decided upon but would be influenced by whether or not I'd paid my installments on time! I said the very least they could offer was to pay rent on a 1 bed apartment until they gave me what I'd bought from them in good faith, to which the reply was “You are not the only person to ask for that”, I'm sure I'm not. It is important that the market knows what to expect from developers. I'm not one to use the word' fight' but I'd like to see all buyers who are potentially going to suffer from this project ‘rework’ to present themselves at Schon Properties to seek a solution. I'd also like to know what the real estate authority has to say about developers hanging onto investors’ money for an additional 2 years.

[georgihh]

Originally Posted by KS1

I was informed this morning that they are now scrapping all the original plans and re-zoning. My apartment, which should have been ready December 2008 is now scheduled for completion in March 2011. I was told that compensation would be decided on handover, the formula for calculating the same had not been decided upon but would be influenced by whether or not I'd paid my installments on time! I said the very least they could offer was to pay rent on a 1 bed apartment until they gave me what I'd bought from them in good faith, to which the reply was “You are not the only person to ask for that”, I'm sure I'm not. It is important that the market knows what to expect from developers. I'm not one to use the word' fight' but I'd like to see all buyers who are potentially going to suffer from this project ‘rework’ to present themselves at Schon Properties to seek a solution. I'd also like to know what the real estate authority has to say about developers hanging onto investors’ money for an additional 2 years.

As far as I remember the OP price was 600 - 650 per sqft
If they don’t increase the prices it’s worthy keeping on the properties.
The area is very prestige and the prices will triple very soon.
Let’s see what the next step will be, but for now making noise and putting the developer under pressure is a good move.

[rasha1312]

hi all if any of u (investors) want to sell his apartment in lagoon plz contact me on my email
rasha.mashni at g mail dot com.