Work under progress - site visited on 1st Dec 2009
Dear all,
I did visit the Emirates City site on 1st December 09 and had met the Project Manager at the site Main Office. As per his updates: work is in progress in many of the towers now.
I had specifically visited the site of Lake Tower 2 (Plot number B 17; shown as Paradise Lake ower at the site) and has seen the work in progress there. When I visited the site on 1st July, there were hardly any workers at the site. But this time, I felt more confident and convincing after meeting the site Managers / contractors at the site and seeing the work in progress. They informed me that the contractors have been changed from Mahwal Contracting to Al Barook Contracting and the contract was assinged to them in end September.
I had visited the Golf Tower (Plot number A 12) site also. Work is in progress on that site as well. I could see workers in many other sites. But there were sites where I could find no workers or cranes.
Si I request you to visit the site and check out the latest status of the tower in which you have invested and get an update.
I will post the photogrphs taken on 1st July and 1st Dec. in Gallery under the respective labels.
Lets hope for the best.
Escrow Account
I had a chat with Mr. Abdul Rahim who is in charge of Lake Tower and Golf Tower in Real Estate Investment Est. He informed me that they are in the process of completing the fomalities of setting up the Escrow account for the reminaing towers and they just received the escrow number for Rose Towers yesterday. In 2 weeks time they are expecting the Escrow account for Golf Tower and then Lake Tower 2.
Once the Escrow account is set up, a new payment plan will be worked out.
Work is in progress and they are putting their best efforts to complete the project in 2 years time.