Emirates City Forum

I dont see any point in making the payment where as there is no visible progress at the construction site.

I agree with Chaabane, in order to be protected we must all take the same approach. I.e we should all continue to make payments as per our schedule or we should all stop payments.
I could not get to UAE for a physical meeting but if there is to be a telephone conference or perhaps meeting via Skype then count me in.
Whichever way we decide to go I can't afford to lose my payments. I don't want to keep making payments if no one else is and therefore no chance of building ever being completed.

I visited Emirates City on 3rd December and sorry to inform that there is no progress at all on Al Hambra 1-2 site. They have not even done the piling work. I took pictures from my mobile but not able to download on this site as it is in jpg format and with high resolution. I think the picture which is there on their website might have been taken while fixing the Al Hambra board. There is nothing at the site except the board.

Hi everyone,
I am an investor in Al Hambra tower too, I saw your question to pay or not to pay, and I would like to share with you my thoughts, I got a brochure about new apartments in Dubai and the brochure listed some good facts:
• If the building is not constructed yet, then it will never construct which is the case of Al Hambra.
• For just a moment, lets assume that Tameerate is a good company and they will complete the building, where is the infrastructure which is required as a minim to live their (electricity, water, ….), do you think Ajman government has money to invest on the infrastructure now or in the future. The answer is no. So building without electricity is useless.
• Your payment should be linked to a construction plan, when they build 40% we should give them 40%, most of us paid more than 40% where is this money, they have even completed 10% of the building. So why we should pay anymore.

Now the question is that, is there any solution?
I was listening to a program on the BBC was talking about the properties problem in Dubai and the lawyer said clearly, you can’t get your money back because the contract does not has this as an open, what we can do is that, to gather as a group and go to a lawyer, the lawyer will go to Tameerate and negotiate with them the contract terms and conditions such as:
• Add a condition to link the payment to the progress of the construction on the contract.
• Reduce the square feet price to match the market
• Add 25% of the whole amount on delivery and 25% after delivery.
• May be put some conditions around the infrastructure.

Even if we achieved the above which is almost a miracle, what is the value of an apartment in Ajman even after 2 or three days. Dubai will never come back as before and the only thing was making value of Ajman was Dubai.

Personally, in the beginning I was very upset on the money which I paid, but after sometime I considered it lost and forget it.

I am writing that because I feel bad for whoever is still paying money to Tameerate, Please save your money, it is enough what we lost.

Best Regards,
Ashraf.

slm alkm All,

it's a pleasure to read your posts and i fully agree with Ashraf. Did you make the conference call ???
i am an investor in AlHambra2 and i feel that we are all in the same BAD situation with Tameerat, and i propose to start strong actions against them to get back our money (or try to reduce fees in there are)

Actually, i am member of a similar french forum dealing with Tameerat projects (http://www.immobilieradubai.com/forum/) gathering up to 5 upset members. We plan to write an official document to Tameerat and ARRA, stating that no investor will pay anymore in Tameerat projects if construction do not go on. If not results, i propose that a group go to Ajman to negociate, and appoint a lawyer.

Let me know your feedback

RB

Hi,

any news about Tameerat ???

regards
RB

Personally I think that Tameerat company has not sold all their apartments to the investors.They have not "SOLD OUT"yet.So there is not enough cash to start construction.If not why the delay.I received 2 e mails from Tameerat recently and they are categorically saying that "They are on track and that that they are keeping their side of the contract,So we have to keep our contractual agreement to keep paying as per schedule.They are only 8 months delay because of ARRA application/escrow account.Delivery is as per schedule year 2011.Biggest LIARS on EARTH again.How can they deliver in 11 months a 25 storey buildings with 4 storey parking.The ratio is more than 2 storey have to be built monthly.Even Burg Al Arab was not built at the rate!!!!!!!
Fellow news are very Depressing.The investors in UAE need to pester the Tameerat company because you are there physically.I am in London and many I am sure are like me powerless and very angry here in UK.

Hi All,

i had a feedback from Tameerat Senior manager saying that they are seeking the builder who will carry out the job. they need 2 months to choose it. then they need 2 more months to start construction. Meaning that in April 2010, they will start.
I told him that all investors will stop payment until construction start. Also, i request him to update my payment plan to make it in line with construction progress.

I ADVICE YOU TO STOP ALL PAYMENT UNTIL WE HAVE A CLEAR VIEW OF THE SITUATION AND TO REQUEST THE SAME THING THAN ME

RB

this is better

http://business.maktoob.com/20090000434734/Investors_demand_payback_from...