GD 4 Tower A06 - Escrow
Dear All,
Called Star Giga today and spoke with Mr.Hamza with regards to the GD4 Tower 6 Project. He told me that within 1 Month they expect to get the ESCROW account up and running, and from that point will notify all owners of the new revised payment schedule and the revised construction program.
I added that at no point has Star Giga sent a formal letter to their customers stating that this is the current situation and that we could be liable to penalties due to non payment of the required payments to Star Giga. He said to me that he would send me an email (most likely in pidgeon english) stating that these negotiations were in place and it would follow within a month with henceforth the notifications/amendments to the payment schedule and construction program.
He told me that the original expected construction start time for GD 04 had been for June 2009, and therefore with the expected delay of 2-3 months, this will push the construction start date to around August / September 2009 I am assuming, but as ever, anything can happen.
If anyone has bought in this tower then could you please send me your details to mkhazenirad@hotmail.com as i would like to build up a database of affected persons, thus enabling us to have a stronger voice in terms of our approach with StarGiga.
Regards
Mehdi :)
Three more....
I have gone through the members' list. There are three more members who have purchase interests in A-06:
Brombaboday - British
riggerone - British, and
sha_net - Indian.
Maybe, you could get in touch with them and exchange information.
A06 Email Addresses
Thanks for the reply - but how do I get messages to these people? Do you have their email addresses so that I may contact them?
Thanks
Gcd projects
I think we all should also approach ETA-Star, raising the issues since they are the Joint Venture partners (hence Star-Giga). They have a bigger reputation to Safeguard and maintain. Perhaps they can bring in some pressure over Giga people (Ghurair Group).
WIth the halving of Raw Material prices ( cement, steel, etc), I see no reason why they should not restart the project with vigour and prompt completion!
I have been told there are thousands of tonnes of steel and cement lying unclaimed in the docks, which were purchased at the then higher prices, which can also be accessed as distress sale by these rogue builders.
GCD
"I think we all should also approach ETA-Star, raising the issues since they are the Joint Venture partners (hence Star-Giga). They have a bigger reputation to Safeguard and maintain. Perhaps they can bring in some pressure over Giga people (Ghurair Group)."
From e-mail correspondence with the sales people at Goldcrest Smart City, I inferred the opposite is true. Here is a copy of the e-mail I received (in broken English).
"I guess dreams 2 is also under construction, but on the delivery of the dreams 2 i think it is delayed but i think we are deferring the payment for that project you can get the exact update from star giga, all our previous project of dreams series is a joint venture between GIGA and ETA Star so the decision us made between both the vendors, and for smart towers it is solely done by Giga group goldcrest properties we are very sure we are starting the construction [smart city] by June."
From this I gather that ETA Star is having problems, or the partners are having difficulty agreeing on a course of action that is mutually agreeable for all the Dreams projects in Emirates City.
GCD 3
Hi,
I had the same problem only with GCD 3 and the weird thing is that my project started 1 year ago and when I called Star-Giga, they told me that there will be 6 to 8 months delay because of the escrow!!! So how come GCD4 started way after GCD3 and GCD3 will have 6 months more of delay that GCD4 !!!
I think the Escrow is a very good thing but at the same time i feel that something bad is happening with Star-Giga and they are telling us different stories.
Please count me in if you want to go and talk to them. my email is khawasli@gmail.com