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Construction Linked Payment Plan by ARRA

Sun, 01/10/2010 - 23:18 — UKInvestor

Does anyone have any idea about Construction Linked Payment plan proposed by ARRA.

My developer is insisting that I should keep paying the installment as they are waiting for construction linked payment plan from ARRA.

Has anyone got an idea when ARRA is proposing.

Can someone please find from ARRA as I am not local in UAE?

Thanks,

‹ Complete at least one tower as a proof of concept. ARRA Faq's ›
Mon, 01/11/2010 - 07:02 — S.M.M
S.M.M's picture

ARRA

Dear Freind,

I am an investor in Chapal- The Glory Project and already paid all Installments up to possessioning according to contraction and was asked to stop more payment up to handing over complited vacancy unit.
I never was asked to go on payment refer to ARRA existence as an intermediator to keep money and give to developer according to construction progress.

Regards

Mon, 01/11/2010 - 08:04 — reza2009

ARRA

Did ARRA ask you to stop paying till your unit is complated ? i have flat in Rainbow14 ,also i stop paing since May 2009 , is there any possiblity that developer can cancel the contract ?

thanks.