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Umm Al Quwain Marina by Emaar - Discussion

Discussion in 'UAE Property' started by dubister, May 8, 2009.

  1. dubister

    dubister New Member

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    HI All,

    Anyone out there with UAQ Marina property? Wanted to get status of the property, its suppose to be delivered by June 30th.

    Any information on the state of project, funding, power issues, masterplan etc etc.

    There are 277 villas planned to be completed there, and the subsequent master plan has something along the lines of 3000 units. Any info, if Emaar will ever deliver the masterplan? If not, is that a point we can use to walk out of the contract.
     
  2. ClinnyCar

    ClinnyCar New Member

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    Hello, New here just wanted to say hi

    hi everyone

    Newly signed up, i want to say a quick hello
     
  3. BlackAngus

    BlackAngus New Member

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    Dubister,
    Do you have more recent information about the UAQ Marina project? Do you have a property there?

    Thanks,
    BlackAngus
     
  4. redarrow

    redarrow New Member

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    UAQ marina villa

    Hi there,

    Yes, we do have a villa and are waiting for formal notification of the handover villa (supposed to be by the end of this month). Verbally we have been told to expect further delay, but only by a few months. I think, from reading the contract, that they have until the end of September to handover, or may themselves then be subject to penalties, and the buyers can ask for their money back, but in reality, will they do that? They are working on the site, currently building a wall from the main road up to the compound, also working on the community swimming pool. Roads not laid yet, and big trenches everywhere waiting for drainage pipes/sewage; apparently they haven't paid the drainage people so they stopped work. Etisalat won't put in their cables until all excavation work has been done. Water connection also won't happen unless the roads are finished. Roads can't be finished until drainage is sorted. Annoying, as there is really no reason for the project not to have been completed, there was no work being done for many months. As for later phases, considering the property markets today, I can't imagine those going ahead in the foreseeable future. I doubt though, that that is a reason to get our money back, as they stipulate in the contract everything is subject to changes or amendment!!
    Fingers crossed, we'll all be moved in before Christmas.
     
  5. SunnyDay

    SunnyDay New Member

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    UAQ Marina by Emaar

    Hi,

    I own a property in UAQ Marina and concerned about the future of this project. have any of you sought legal opinion as to what our rights are as investors, in case Emaar is not able to complete the entire project as they had promised.

    We had invested in this property considering the fact that its going to be a big development not in a 200 odd villas in the middle of no where.

    I suggest, investors in this project should come together and form a group or something and raise our concerns to Emaar collectively.

    SunnyDay
     
  6. redarrow

    redarrow New Member

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    Try to send a private message to Blackangus, as he is organising such a group. We hope to meet up next week.
     
  7. redarrow

    redarrow New Member

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    There are about seven of us now, all in similar situations. The more of us that can unite, the better.
     
  8. redarrow

    redarrow New Member

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    Sunnyday,
    once you become an active member, I can send you a private message so we can exchange contact numbers. I think you need to post a few more messages to become an active member.
     
  9. SunnyDay

    SunnyDay New Member

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    Yeah..lets all of us get in touch and have a discussion.
    I belive Emaar has sent out letters today..since i am travelling didn't get it yet.
    Have u all got it already? What does it say

    SunnyDay
     
  10. SunnyDay

    SunnyDay New Member

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    What's the latest from Emaar on UAQ Marina?

    SunnyDay
     
  11. SunnyDay

    SunnyDay New Member

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    Thanks Redarrow ! tried but coudn't send message to Blackangus. Can you pls let me know details abt the next week meeting?

    SunnyDay
     
  12. Stripe

    Stripe New Member

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    Hi Guys,

    I am another member who has bought into UAQ Marina based on the original masterplan. As it looks highly unlikely that Emaar are going to continue at apace, if at all, with this development i have decided to take some legal advice from solicitors based in Dubai.

    This morning i received, as i am sure others have, a letter stating that there would be a further delay of completion of 6 months. Given that there has already been a delay of 12 months I find this to be completely unacceptable & have lost complete confidence in Emaar & there ability to actually be in a position to handover in december 2010.

    I agree with one of the other members, who believes that once 90 days passes (after the initial 12 months delay) effectively 01st September 2010, then you can give written notice requesting a full refund.

    Once i receive a response from the solicitors i will of course post it here online so that we can all see exactly where we stand. My concerns are that as with most developers in Dubai, especially in the current economic climate, they are attempting every trick in the book in order to avoid potential liabilities/refunds.

    I think we definately need to act as one in any future action as the threat of bad PR is potentially the only way that we may be able to get a satisfactory result. I would welcome a meeting to discuss our options therefore please let me know if it is definately happening.

    A final point to note is that with the Dirham being so low against the pound if we were to get a full refund of funds deposited then it may be possible to actually make a profit once converted back to sterling. Just a thought!!
     
  13. redarrow

    redarrow New Member

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    Hi,
    Once you have posted a few more posts you will become an active member on the site, rather than a junior member and I can then forward you a private message with details of the group that we have established. We would welcome as many new members as possible, we are all in the same situation, with the same concerns. BlackAngus is the one bringing us all together and he is hopefully planning a meetng for next week.
    Re. the Marina, the general feeling is the latest delay Emaar can make it is September, 30, 2011.
    June 30th 2009 was their ESTIMATED completion date.
    June 30th 2010 is the actual completion date.
    They are allowed delays of one year, then 90 days from then to handover or refund.
    It will be interesting to see if your solicitor confirms this.
    We also have doubts as the the masterplan ever being implemented, I don't know if Emaar are legally bound to delivering that, probably not. To date they are saying on hold and not cancelled, but how long can it stay on hold for?
    Keep posting, and once your're active, I'll send a private message.
    Thanks for your contribution
    SunnyDay
     
  14. White Knight

    White Knight New Member

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    UAQ Marina Delay

    Hi All,

    I too have a number of villas in UAQ Marina bought as a long term investment back in 2007. Again, I purchased on the basis that the "Masterplan" would be implemented. I appreciate the fact that there has been a global recession but surely a reknowned company such as Emnaar could assist end-user's with finance packages to assist sales. If finance were available (even for the final payment) then the villas would be more affordable, attracting more residents which in turn would attract shop keepers which in turn would attract more residents. Even NBQ, the Emirate's bank wont lend on them - why?!

    At present it does seem that the community will be abandoned in the desert rays?

    I think if we can unite as many purchasers as possible to confront Emaar we would obviously be in a stronger position than as individual parties. I will keep posting to become an Active Member.

    Let us take the fight to Emaar as a unified body!:fight:
     
  15. redarrow

    redarrow New Member

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    We're all in agreement, and strength in numbers has to be to our advantage. We might be up to double figures now! I'll contact you with more info. once you're active.
     
  16. White Knight

    White Knight New Member

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    UAQ Marina Delay

    Hi Red Arrow,

    Thank you for the reply. Hopefully more people that have simply been following the posts on this forum will now become actively involved. There must also be people who "walked away" from this project in the past through lack of confidence in the development who have been served default notices previously and even had their contracts terminated. How many people actually want to go through with their purchase at this moment in time knowing that the community may be left in isolation? If Emaar are not going to deliver on the Masterplan then perhaps they were the sensible ones? Do they now have a just reason for recourse also?
     
  17. redarrow

    redarrow New Member

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    We purchased just the one villa, with the purpose of living in it. We are not ready to walk away and intend to live in it, even if it turns out to be practically a Ghost town!
     
  18. White Knight

    White Knight New Member

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    Good to know I will have at least one neighbour!!
     
  19. redarrow

    redarrow New Member

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    Likewise! We were afraid everyone else had purchased for investment, and in view of the current climate, little chance of selling or renting the properties out; we thought we might end up being totally alone out there.
     
  20. Stripe

    Stripe New Member

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    Just to make you feel a bit better, i have committed to 11 Villas on the UAQ Marina site!! i am hoping to hear some positive news from my solicitor next week once he has had a good look at the contracts we were given. From a purely personal point of view I do not fancy the idea of trying to rent out villas that are stuck in the middle of nowhere & would therefore prefer a refund. I guess we will just have to stick together & try to force Emaars hand!
     
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