lillies tower positives
regards
members today i had a chat with legal consul specialising in real estate cases after going through the contract from R holdings this was his assesment
1. R holding is NOT in voilation of any terms of contract at this moment of time hence installments stoppage makes us at fault (completion is end 2009 )
2.now where it suggests in contract that it is a construction based plan hence we cannot claim slow progress as reason for with holding payments.
but he noted the following positives for this project
1 in his professional opinion he said the project still looked good for the progress and the payment plan ie even if we pay trough 2009 installments we end up paying abt 40% and after that if the construction is not complete the law is on our side for compensation
2. ajman emirates city still retains good appeal for rental income as it seems the only ongoing construction from the announced projects in emirates city (even after the delay other projects are way behind)
3 R holding has added several new infra structure in EC like mosques schools etc not in orignal plan
so all i can say is from my side i think there is still hope . finally my personal opinion i will continue with my next set of installments through 2009 end and keeppressuring R holding for updates so as to know we are keeping track for me this seems a reasonable way forward.
mustafa
DEAR FRIENDS
I CONFIRM THAT THEY ARE WORKING ON D01 AND D02.
IT IS BETTER TO CONTINUE PAYING ON THAT.
THEY WERE WORKING EVEN ON FRIDAY.I WAS THERE TO SEE ROSE TOWER BUT IT STUCKED IN BASE.
Positive Feed Back
Salaams Mustafa,
Jazak Allah for that positive/ professional feed back.
I reckon that summarises true state of affairs as it stands at the present with the EC & R holdings.
Let us all pray and hope for the best and In-Shallah all our investments will not go in vain.
Wasalaam.
Lee
Activity
Of course there is tons of activity going on at the site of EC. Just look at this shots from a month ago, when looking at this forum you thought the site of EC was abandoned. There are trucks, lots of cranes and other material to be seen and they have not vanished from EC over night.
positives
regards
from the article posted by dwarish from the national news daily the editor clearly acknowledges that the emirates city is the only ONGOING PROJECT on emirates road and is going to remain so till reccession or so called crisis passes over . it provides investors for good appreciation oppurtunities if they have bought from reputed developers.
second point to note from the article is how the spokesperson from goldcrest clarified that even though their companies had launched projects with prices which according to todays market seem not feasible due to their diverese business interests such as construction etc they would be able to see through their projects. they have a REPUTATION to maintain. in short developers with diverse business interests and reputation shall prevail through even tough conditions R holding , Goldcrest , bsel are all big time players with diverse businesses.
thirdly and more importantly we emirates city investors have got to show some faith towards ongoing construction because even at a slow pace the more the developer has built the more difficult it will get for them to walk away from thier commitments say u dont think they will refund you 75% of your investmnt cause they built 25% of it if they r unable to deliver
yeah but for guys who have paid around 30% plus and still ground braking not happened i say seriously LOOK around for your developers credentials.
for rest all there is awhole lot of HOPE
mustafa
We all should be optimistic & patient
Dear friends,
I think its a global crisis & we all should wait for better days in future. Iraq war imposed a very heavy costs for U.S economy, & anyway it should be recoverd. Its enough that we know the profit which American firms has got because of reduction of the oil price during last 2 months has been more than 400 billion Dollars.
And now the golbal Capitalism is looking for more incomes and profits in other sectors.We as midincome investors,should be more carefull now & wait for futre optimistically and be aware that the main players of this scene (consisting of globel cartels ,trusts,super powers & even economic firms and organizations ) are waiting for their clients impatience & foolishly decisions.So lets be calm and logic & try to make them tired .Anyway commerce and trading always has its special risks.I think next 4 months will be very important & impressive in world economy & everybody who bear all the conditions and bad news , will be the last winner.
So lets wait & only wait because they are in the same boat with us, for them their reputation values more than some $$.
Thanks, Amir