"THE PARADISE LAKE TOWER" on the Emirates City to be completed by end 2009.
Found on the skyscrapercity.com :
Dear Reader,
A message for you concerning investors and home buyers in AJMAN, UAE.
On behalf of Sweet Homes Real Estate, we would like to announce that “Ajman Real Estate Regulatory Authority” – ARRA had given us assurance that this project"THE PARADISE LAKE TOWER” on the Emirates City to be completed by end 2009.
Moreover, “R- Holding” the Developer of this project has authorized Sweet Homes Real Estate to collect all installments from all the buyers on their behalf.
We encourage investors and buyers not to hesitate to make Ajman, UAE as your second home.
For further details
http://img253.imageshack.us/my.php?i...rmationcb9.jpg
Copyright © 2007-2011 Emirates City Forum
Paradise Lake Tower Completion
Salaams Imre,
Is Sweet Homes Playing some sort of mind games or what? We have situation where other developers are talking of delayed completion of the projects yet Sweet homes are trying to pull a fast one by ensuring us to continue the instalments to them directly. What happens to escrow account?
All the the investors have to seek assurance from the Sweet Homes as well as R Holdings if the if infra structures along with the shopping malls will be completed with all the Paradise Lake Towers?
Lee
yes, its strange
oh yes, i just saw this posting and amazed to see copy of a letter which seems to given to ARRA and assured that paradise lake buildings will be ready till end of this year for sure. and therefore all investors should pay their installments directly to them...but this is not possible...law is law for all, they are not above law, they have to open escrow account as per law set by ARRA.
i am not sure this is real letter or fake..let us ask ARRA about it.
Yes I agree with Newera, let
Yes I agree with Newera, let us have some sort of clarification from ARRA. It does not really make sense If ARRA are under obligation of R Holdings or visa versa?
Lee
About Sweethomes
Hi all,
We have 2 apartment with Sweethomes (Paradise lakes) and I went to ARRA to enquire about payment and screw account a week ago, and after explaining to them my situation, they advised me not to pay to sweethomes untill they open their scrow account and is verified with them. Therefore, I do not understand the letter you are talking about ... it is probably a fake one!!
don't believe it!
Have you seen the construction height of some of the towers?
Some have barely surfaced. To say they will be completed in 10 months, when they haven't got to the first floor in 2 years is ridiculous.
As for paymnet - no escrow means no payment
regards
SWEET HOME (pradise lake)
Hello freinds: just to let you know I was in dubai last week and visited sweet homes office in dubai, I spoken MR hussein one of their senior managers, he assured me that pradise lake will be completed dec. 2009.
about escrow account he said just now of his emplyee come from ARRA office in ajman, opened escrow acoount then he showed me a letter of escrow account and the fee they have paid (one hundred thousand dirham) to ARRA he said they processing their application form and soon they will send us a regstraion number.
instalments payment he said we are (sweet homes) negotiating with developer and R holdings for some relaxing instalments will let you know the outcome of this end of february or begining march 2009, in the meantime he said you have to continoue the due installments.
new trick by developers
this is a new trick played by developers. ARRA told us not to pay now, why this Mr. developer is insisting on paying?
Answer: the more money you pay the more u will get trapped
See the Proof
Why not ask Sweethomes to publish a copy of the consent/authority from ARRA ?
If they are making this up then obviously criminal action can be taken against them, ie for fraud.
payment plan
hi, willi , you should tell sweethomes that the pament plan needs to be linked with construction before you can continue, as this is in line with Arra recommendations
The Reason
Friends,
I think the reason could be that ARRA also mention, if any project is 50% completed, the developer maynot be required to open escrow account for that project and continue with construction. But again it have some conditions which need to be brought in from to Sweet Homes:
1) Even it is 50% up, this only applies to B7, B8 but not the rest of the plots of paradies lake.
2) Secondly they have to provide releastic date of completion to ARRA. This need to be confirmed by ARRA if end of 2009 is realistic date - Investors donot find it realistic!
If at all, Sweet Homes, declare the quote mentioned, Someone need to speak to ARRA and inform this intention by Sweet Home for Paradise Lave towers and confirm from ARRA, If ARRA says yes, then the last hope is they need to be informed that only two towers of paradise lake plot is up 50% up and not all of it cluster.
Salaam Deepineyez. Jazak
Salaam Deepineyez.
Jazak Allah for your clarification with regards to the construction progress of 50% which you rightly pointed out that applies to towers B07 & B08 only. Also we have to enquire and also insist from ARRA that all the further payment to the Escrow account have to be tied to the construction of the towers as well as the infra structures. Can we have your suggestion on this. Do you have e-mail address for ARRa please.
Wasalaam,
Lee
Stopping installment
I have stopped paying installment from January and informed sweethomes that they should re-schedule the installment as we bought the units with 40% payment after completion date.
They informed me that they should tal to managment and till now i have not received any notice letter for installment.
Any idea.
Best Regards,
Farzad
this is against our contracts
I have stopped installement too from january & I have informed them that since I have installed 50% of the payment, I will pay NO more,
they didnt reply
I think that we should be solid about that, even ARRA cant force us against our legal rights,
I can call this an official fraud
E mail is too soft medium for hardened Developers
Trying to explain to the hardened developers via the medium of e-mail seems to be a too soft approach. They are not moved , they will not reply, and they pretend not to remember anything. The points mentioned by most members are similar in nature, and need to be approached jointly with written documents by responsible members of this network or by ADMIN themselves. Positive approaches and consideration to the buyers and investors only can stop all this negativity going around. Remember that the price and value of the apartments and towers DEPEND ON WHAT THE INVESTORS FEEL. With so much negativity, and inaction by greedy developers, the concept of Emirates City would be doomed for failure.
Email to ARRA
I too have sent an email to ARRA, copying Sweethomes and R-Holding (email failed to R Holding by the way - twice!
Basically stating that it is not fair to ask investors to continue paying given the lack of construction progress. I am seeking delayed payments or payments linked to construction.
It has been one week and no reply. perhaps email is to soft. Does anyone pick up the phone over there?
ARRA
I called ARRA and they advised that Sweet home can not continue to collect money, and if we have given post dated cheques then we should reques tthe payment to be made to the Escrow Account, and should not pay sweet homes. Sweet homes are not taking any responsibility now .
payment
Hi Friends
I agree with you all. I think sweet homes is just trying to collect more money from us and more we pay the more we drawn.
I suggest we all have to put stop to our payments until we actually see a reasonable progress in construction of towers B2 - B6.
Sweethomes Escrow Account Set Up By Sunday - NOT
All,
I called ARRA this morning and they informed me that NO escrow account has been opened for Sweethomes thus far, even though they told me last week that one would be set up by Sunday.
I have written to Sweethomes management in Dubai last week telling them how I feel, how their request for further payment as per R-holding letter is not reasonable (attaching an image of my tower) and how impossible deadline of Dec 09 is.
I am still awaiting a reply.