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Alfurqan announces construction linked payment plan.

The Emirates City's picture
Sat, 09/19/2009 - 09:46 — The Emirates City

Hi all and eid mobarek. I got an email from alfurqan this morning Announcing construction linked payment plan. And that construction will start after eid. If this is true it is big step towerds building the trust one more time. The problem is they are not registered with ARRA yet. Lets wait and see. Please find attached.
Lets be optimistic this eid

‹ Alfurqan update oct-11-2009 Reminder: Only pay if construction progress ›
Sun, 09/20/2009 - 09:43 — ajmanflat
ajmanflat's picture

about time

this is just common sense.

any developer with no construction linked payment plan should be deserted by investors. not a derham to go those thieves who dont do this at minimum.

Mon, 09/21/2009 - 16:50 — Musafir
Musafir's picture

one down side of

one down side of construction linked in some contracts i have heard is that they try to hide new clauses on timetable in them, hence place a new timetable for when construction is to be completed by (sometimes 1 yr or more later) compared to the non-constuction contract.

hence by signing up to the new construction linked contract you would indirectly be agreeing to the new timetable.

if this is position, please flag up and try challendging with the developers on such clauses.

however one arguement they appear to elude to in past is, by us revising timetable for payment, it means you will be paying less sooner, and will end up paying balance much later then originally agreed, hence change of complete date timetable mitigated.