Fortune L.L.C. sold the Crown Residencia

VV's picture

Fortune L.L.C. sold the Crown Residencia Project to Albatha Real Estate L.L.C., own by Alawi Hussein Mohammed. All future payments to be forwarded to their office located at Escape Tower, Floor 11, Room 1104, Sheikh Rashid St., Ajman.

Is Al Batha Real Estate part

Is Al Batha Real Estate part of Al Batha Group ( www.albathagroup.com )? Does anyone know how their past performance is?
Was this just good business opportunity for Fortune or they were experiencing financial difficulties? I hope all terms and conditions we had with Fortune will remain the unchanged.
Can anyone tell me the progress on Crown Residencia? Last thing I know is that the site was mobilized but did things moved from that point?
Thanks ~

Crown Residencia

As per the letter from Fortune, now all the payments should be given to Al Batha.

I beleive that we can not pay to Batha , unless they provide the document that they are now the owner of Crown Residencia and they (Al Batha ) will deliver/handover these apartment to the owner with the same terms and conditions stated in our original contract with Fortune. Please comment on the following queries.
1- What will be the lagal status of the our contract with Fortune?
2- How can we make sure that Al batha is going to deliver the apartment to us, unless we have a contract with Al Batha?

Menmbers, please share your experience and suggestions.

Arshad, I agree with you,

Arshad,

I agree with you, Fortune must assure us that Al Batha will deliver. We need either new contracts or some annex to the contracts , memorandum signed by Fortune and Al Batha where they state that all terms and conditions will remain the same.

I have been truing to find out the status on site, can anyone please tell me did the construction started?
Thanks

Crown Residencia

Fortune has given the following two Names and their tel # (Batha Real Estate) for any enquiry.
1- Abubakar Abuzaied (Accountant) : +971 50 7161885
2- Alawi Hussein Mohammed (Owner) : +971 50 1610506

I have been trying to contact on these tel numbers, but either they are not picking the telephone , or it is switched off.

VV, do you have any further informations on the latest status?

Any futher updates will be helpful.

Crown Residencia @ AL-batha real state

I agree, some contract or any other document supporting the trems and conditions, we signed with fourtune LLC should be given by Al-Batha & Fortune LLC. The phone nos. +971 50 7161885, 50 1610506 does not seems to be use full as no one picks up the phone.
-Khan.

Issue

I dont think this concerns are that serious...

Its only a matter of time when things will go under control..Its business, Al batha came up with a proposal, Crown liked it and sold it....however, this doesnt mean they will ignore the home owners. Give them sometime and i'm sure this will get through. This isnt Nahkeel, do not expect prompt reminder to owners. but i think its good to remind them that these are our concerns frequently and demand our right!!

Way to go!

Did anyone contacted Fortune or Al Batha regarding our concerns?

Did anyone contacted Fortune or Al Batha regarding our concerns? I received an e-mail from Fortune offering me properties in their new projects and non of my questions regarding CR was answered. I have the feeling that they do not care anymore because they sold the building and do not feel responsible to make any further explanations. And on the other side, no one is responding from Al Batha either…. I am not comfortable with the current situation. Unfortunately, I live far from UAE and I can not do anything……

Let's observe

I dont feel comfortable either! however it is wise to observe current situation and see what we need to do...because Al batha though they may not pickup the phone sooner or later they will comeup with all legal document to calm investors and end users....but i'd continue calling crown residencia and find out Whats going on.

Crown Residencia

Hi,

I have consulted couple of people and real state agents. I also talked to the fomer project manager of fortune L.L.C. Things look O.K.
Infact it looks that AL-Batha might be better. I have heard they have signed some contract with some firm for electricity
and water supplies. If this is true and al-batha does a good job on construction then deffinitely it will add value to crown residencia.

Rgds.

True that...

Crown has told me earlier that since crown is handling various other projects, they decided to handover several projects to other agents and one of them were Crown residencia. I'm sure Al batha agent can certainly show professionalism as they have experience in Ajman properties.

Let's be patient and hope for the best!...

The next instalment

Good day,
This is all good news, just my question is do we pay the next instalment to Al Batha based on the memo that Fortune LLC sent us by mail with no contract amendment or new contracts? What are your thoughts?
Thanks ~

CROWN RESIDENCIA Next Installement

I have got some information from one of the lady in Fortune and she said that very soon we are starting to collect back the contrcats for ammendments. They will be taking out the name of Fotune L.L.C. and as a new developer "Al Batha" will stamp those contracts in future.
The payment will be made under the same account which is mentioned on the contract "Crown Residencia" but the receipts will be from Al Batha.
We shall not make our next payment untill we get an acceptable confirmation from Fortune L.L.C. What you all say...:? :?

Yo.

I think that is all too harsh!

Until today i believe UAE was able to flourish through mutual understanding that benefits both party...

As investors, as end users, we all need to understand how business works here! and work ways that protects all of our interest...therefore i think its better we all make the payment, but they better hurry up and finalise the modified contract! We pay for service, its slow, slow, and we wait, wait, but at the end of the day all we are asking them is getting the job done..

Al Batha LLC seems to be ok

Hi guys, I'm new here. I did worry like you all but from the first time I called to Mr. Abubakar Abuzaied (Accountant) : +971 50 7161885 I could talk to him regarding change my contract and I allready visited their offis in Ajman and my contract was changed. I mean the first page of it where is writen the name of new real estate company which is Al Batha. I've met the owner as well. Unfortunatly he doesn't speak English but we could communicate through Mr. Abubakar Abuzaied. Besides I was at the construction site of The Emirates City and I sow that works on most of the projects is going on very quickly. Again unfortunatly I couldn't drive to CR site (C21) coz my car is not 4x4 but I think CR couldn't be xclusion of the whole project of The Emirates City. So if you try to contact them, they will answer the phone I think. Also try to contact Eleanor Marin by e-mail: ellen101673@gmail.com
About installments I can't say anything. It seems we'll have to pay direct to the offis or accaunt as we should by payment plan. If I get any other info I'll inform you here.

Non UAE residents

Are there any CR apartment owners that are not from UAE? We need a plan how are we going to amend our contracts. Fortune sent me my contract by Fedex to my home address.....
What is Ms. Eleanor's title in the company?

Non resident

I'm not from U.A.E. Unfortunatly I don't know Ms. Eleanor's title in the company. When I was in Al Batha's office they just reprinted a first page of contract and added it to the old one. I gess there's only one way to amend your contracts. You have go to Al Batha's office and ask them to do that.

I e-mailed Ms. Eleanor and

I e-mailed Ms. Eleanor and she is nor responding.
There must be another way than visiting their office. I can not catch 12+ hour flight just for one printed page that can be sent to me by courier. The question is are they willing to do it.....

VV's picture

Al Batha LLC

Good day for everybody!

It's really not so easy to catch Mr. Abubakar. He is not responding very often. However, I talked to him just five minutes ago and I'll meet him this Saturday in his office to discuss the situation.

Sosta76, I can ask about your trouble, but you send me yours details please. At least the unit number.

Al Batha

This is the e-mail adres of Al Batha office crownresidencia.albatha@gmail.com
The office land-line +971 6 7447778 fax +9716 7447780.
Location of the office - 1104 Escape Tower, Sheikh Rashid bin Humaid st. Ajman, U.A.E.

All this information is from the letter which I got recently. I just wonder that nobody knows this contacts or can't get in touch with them.

Thank you!

VV, thank you for your kindness! Ms. Ellen just answered my e-mail and said that they will be preparing the new contracts which will be signed by the new dveloper MR. ALAWI HUSSEIN MOHAMMED.
I'll wait and see what happens.
Thank you one more time.

Letter and MOU received from Al Batha

I spoke to Mr. Abubakar and find them OK. He called me back regarding the payments twice. I have also received the copy of MOU signed between the previouse owners of Crown and the new owners.
Also got the trade license copy of Al Batha Real Estate L.L.C. + A letter from new owner Mr. Alawi Hussein Mohammad stating that "All documents were properly turned over to us by Fortune L.L.C. Rest assured that all transactions made before are well-taken cared by our office and we will aknowledge all the documents given by the former owner".
I might visit the site on this Monday or Tuesday and will take get some images. Anyone need the copy of the above documents can e-mail me on saima_canser@yahoo.com
Good Luck to all.

Should we pay

Should we pay the next installment???????? Or wait for the contract copy. Please advice

My next installment is due

My next installment is due end of August I am not paying without a contract. I hope Al Batha will be in position to finish the paperwork in one month.

Installment due

I think U better do a payment on time. Or just wait another 30 days after yor due date but no longer. I think you need to let Al Batha know, that you did not get your new contract and tell them that you don't intent to pay bfore. Otherwise it might create a problems btwin you and the company. To avoid misunderstanding u need to make a clear yor intentions and regardings to the company. Let them take care about the rest. The best way I think is contacting them by e-mail. I'm sure they will take steps to meet you half way.

Any updates

Any updates on this subject? Could someone help us to know the construction status of CR?

Any updates on this subject?

Any updates on this subject? Could someone help us to know the construction status of CR?

Progress - "Costruction Cost Paid to the Contractors"

Hi all,

I was not on the forum for a few weeks but now back.
I have visited Al Batha office in Ajman for my payment and to get the new contract with Al Batha. They informed me that the payment of AED 21 - Million has already been made to the contractors. This will cover the construction till 15th floor and a period of One year. I was also informed by Al Batha, that there will be a delay in the completion of project but no more than 6 months, so the new completion date is June 2010.
I will be visiting the site within this week to see the progress and will take some pictures of the work. i had visited the site a month back as well.

Can someone guide me how to upload the photos in galary section.??

Rest, hope for the best and good luck.

No Activities Members....?

Hi all,
I am worried, why there are no posts for Crown Residencia. Is this only me who is curious about the completion of the project and the payments or....? Can anyone update us that how's the resale going on for Crown and what is the aproximate price per/sq.ft...?
Regards,

Crown Residencia

Based on the current situation, the selling price for most of the projects is only from the developer, which is PSEUDO. It seems that there is no RESALE going on, and so the real market price is unknown.

As far as the new completion date is concern, June 2010 is unrealistic. Only the piling work is done till now. The contractor (not very big/reputed or having a track record) has got many more projects in EC. So how can the 24 storied building be completed within 18 months from now ?

Experts from the construction field, your comments will be highly appreciated.

No Activities Members....?

I know that about a month ago investors and owners of properties in CR should meet on the site to see what
is progress in construction and discuss what next. I could not join. But after that I received pics from one of forumers. Piling is done, basement is covered. The pics should be somewere in galery I did not check yet.
And since then no much news in forum. I thing we all must associat closely. We might need react fast and we have no one on other side to help us. But I have to say untill now Al Batha seems OK. I had no any single problem dealing with them. So fingers crossed everithing is alright. We just need to set a one Friday a month for meeting in sime particular place. That would make some worried people more confident. I think that's not hard to arrange. What you'll all say guys if I offer you to meet every last Friday in one of the coffeshops in Ajman City Center? It is also close to site we can make a short trip to the site if needed. Hmm?

CR21

Hi & Salam to everyone
I live in USA and its nearly impossible to catch up with what is happening in real time out there. I just joined the forum and find it of utmost importance. As far as I am concerned, you all are doing a wonderful job and letting everyone know of what is happening about CR, specially people like us.
Please keep up the good work and feel free to send any available pics or update info to my email : mirza_amir@yahoo.com.
I shall be highly obliged.
Regards & Happy NEW Year !!

This refers to the posting

This refers to the posting by — Elshan on Thu, 12/25/2008 - 07:05 which says "I received pics from one of forumers. Piling is done, basement is covered", but I am sorry to say that Basement is not covered yet.

Truly said by another member, it is the Mehwal Building Co (06 - 745 7205) who is the contractor for CR.. These are the same guys who have their names on atleast half of the C row.

As far as Al Batha is concern, only dealing/replying properly and proper customer care does not guarantee that they are GOOD or they will deliver the project/building on time. They should make sure that the construction continues in proper pace. If not, then the PAYMENT schedule MUST be revised according to the progress of construction.

As per the present situation, When the project is expected to be finished ? Experts, please advise.

What I've seen...

The day of {mas I was in Al Batha r.e. office and one of the guys there showed me a short video from the site. I can't say was it CR site or anything else, but I saw covered territori and piles. This coming friday I'm going to be there to check it again and will show you pics. May be that wasn't CR site...