TAMANI ARTS Offices Business Bay: Change of Developer!

[Khairallah]

Do not sign revised SPA. As per the law you can terminate your existing contract and claim refund along with 12% interest.

 

[mohammad du]

HI,
Finally. i have the same problem with my units in park lane and b2b.
I haven't signed the new SPA. Size different is 50%.
Let's get together and take a legal action. I contacted the new developer but they said they can't do anything this was from the previous developer.
Please let me know if anybody has taken any legal action.
Thanks.

 

[NetSpy]

Tamani via Amlak

Many thanks guys.. I have a complication as I am financed by AMLAK.. thus I am not sure if AMLAK will sign the SPA on my behalf directly.. I am meeting AMLAK next week and will ask them not to sign the SPA.. any views on my case guys?

 

[Khairallah]

New Developer cannot waive off obligations of Old Developer towards investors. Please inform how many of you have received Oqood registration document from Dubai Land Department. Normally investors were not even aware regarding such huge difference between gross and net area. However, in Dubai Land Department KM Properties have registered Units in name of investors between 2007 to 2009 that is 50% of gross area (this documents they have not sent to investors).

 

[farshid]

Tamani

I was called by the new developer today and basically was told they will carry on with the areas as they are. I am also ready to get a lawyer if all of us can join in.
I was also advised that I can just open a case at Dubai courts and I would not need a lawyer to do so.
Any comments?
Farshid

 

[farshid]

New Developer cannot waive off obligations of Old Developer towards investors. Please inform how many of you have received Oqood registration document from Dubai Land Department. Normally investors were not even aware regarding such huge difference between gross and net area. However, in Dubai Land Department KM Properties have registered Units in name of investors between 2007 to 2009 that is 50% of gross area (this documents they have not sent to investors).

I received Oqood but don't know if it is from Dubai Land depart.
Can they give us only 50% of gross area?
Please comment.

 

[mohammad du]

hi.

New Developer cannot waive off obligations of Old Developer towards investors. Please inform how many of you have received Oqood registration document from Dubai Land Department. Normally investors were not even aware regarding such huge difference between gross and net area. However, in Dubai Land Department KM Properties have registered Units in name of investors between 2007 to 2009 that is 50% of gross area (this documents they have not sent to investors).

Hi,
I havnt received any aqood. I have paid 45% to the developer.
Can anyone give us advise what should we do. Can the developer cancell our units and sell them a secound party?

 

[kalu]

Sorry guys, due to a family bereavement I have been away from my machine.
Let me clarify what I meant by the area issue.

My original SPA duly signed on 31st May 2009 states, " Gross sold area : 1233.10 sq. Ft. with a proportional interest of 0.10% in the common hold property"

The revised SPA as we all know differ.

I will go to RERA office on my return to Dubai during 2nd week of October and ask questions,
so please fire away and compile a questionnaire for me to extract responses from RERA officials.

Please keep the forum active to attract as many GENUINE/GENUINE investors as possible.

Some one advised me, there is no quick fix for issue as our here in Dubai. Try to understand the legal/arbitration/litigation procedures for such issues and then act
accordingly.

 

[farshid]

Sorry guys, due to a family bereavement I have been away from my machine.
Let me clarify what I meant by the area issue.

My original SPA duly signed on 31st May 2009 states, " Gross sold area : 1233.10 sq. Ft. with a proportional interest of 0.10% in the common hold property"

The revised SPA as we all know differ.

I will go to RERA office on my return to Dubai during 2nd week of October and ask questions,
so please fire away and compile a questionnaire for me to extract responses from RERA officials.

Please keep the forum active to attract as many GENUINE/GENUINE investors as possible.

Some one advised me, there is no quick fix for issue as our here in Dubai. Try to understand the legal/arbitration/litigation procedures for such issues and then act
accordingly.

Hi Kalu,
welcome back, and sorry for your bereavement.
My original contract was for 717sqf but now they are saying my net area is 330 !! less than half.
Someone went to Land Department on my behalf and asked questions and she was told that many KM investors have the same problem. We must open a case in Dubai courts and we will get results.
I live in UK so I have to plan a visit to Dubai, but I would join a group action and if possible seek the help of a lawyer. Individually it would cost a lot but if we join together it would be cheaper to have a good lawyer.
Any comments from the forum is welcome.

 

[kalu]

Hi Farshid

Thankx.

A group action is effective with individual power of attorney by each member in the group is given to a lawyer will fetch results.

We may need the help of the forum moderator to set up a separate platform
for the members only after some filtering process as well as running the same link
for new members as invitation.

Not a bad idea to consult a lawyer here in Dubai and gather initial info; etc.

Opening a case in the court may require solid evidence of irregularities and may be the last resort by a lawyer on a point of law.

Simplicity of the matter is that we all have original contracts and those contracts have been breached hence we are entitle for a full refund plus compensation.

However, see the outcome of your visit to Dubai. I am on a visit to stoke on trent
in UK on the 14/09. I will be staying at empire house student hall, see if you could some how contact me there.

 

[Khairallah]

On Sunday, we have meeting with person in charge at Dubai Land Department to discuss this matter on behalf of our Client. In the SPA, there is Arbitration clause. However, legally going through Arbitration is not advisable, as this property no longer belongs to KM. Three major issues- size difference, unacceptable delay in construction work and quality of construction work (it is grade b). If group approaches us, we will provide full assistance and solution.

 

[farshid]

Hi Farshid

Thankx.

A group action is effective with individual power of attorney by each member in the group is given to a lawyer will fetch results.

We may need the help of the forum moderator to set up a separate platform
for the members only after some filtering process as well as running the same link
for new members as invitation.

Not a bad idea to consult a lawyer here in Dubai and gather initial info; etc.

Opening a case in the court may require solid evidence of irregularities and may be the last resort by a lawyer on a point of law.

Simplicity of the matter is that we all have original contracts and those contracts have been breached hence we are entitle for a full refund plus compensation.

However, see the outcome of your visit to Dubai. I am on a visit to stoke on trent
in UK on the 14/09. I will be staying at empire house student hall, see if you could some how contact me there.

Dear Kalu
It might be easier for you to get in touch with me. I live in Manchester which is not very far from Stoke. My company is called Cleopatra Trading. You can find my number through Cleopatra.
Hope you talk to you soon.

 

[kalu]

Guys, Please encourage all the investors in Tamani Arts, Park Lane and B2B Tower, to participate on this forum as we all have a common objective to achieve.

Those investors who are on the side line viewing this forum, please find answers
and seek points of contact in the discussion.


Also if I could dare to suggest, please stick together as one group,NOT TO BE
DIVIDED and RULED.

Our answers lies with the Land Registry officials but certainly we will need a group
leader/committee who will liaise with them him/her/themselves or through a lawyer.

Farshid, If for some reasons I could not reach you on Cleopatra in cheetam hill please keep the student hall in mind where i will be from 14/09 onward for 2 weeks.

 

[kalu]

Gross v Net area

Please check the article of Emarat Alyoum newspaper in dated 21/07/2014 under
business/local.
Heading is , Dubai Land apply uniform standards for area begining
in 2015.

It is in Arabic but an English version is possible.

Although it is a new standard but some developers is using as a (BAD) tool to convince investors to accept reduced net areas.

 

[mohammad du]

hi

Hi,
Please let us know your feedback from land department.
Thanks

 

[mohammad du]

Hi all,
I think we all should join together and take a legal action as soon as we can. Because I believe the more we delay it gives the right to the developer to cancel our units for defaulting payments.
Please give your feedbacks.
Thanks

 

[paparulo]

Tamani yes or no ?

Dear All,

Sorry I have been off the last few days.
I see that all the group is against the signature of the new contract and ready to ask for refund....

Even when I initiated this forum myself with such purpose, before moving into that direction I wonder which option would have better odds of succeeding:

a) the request for a refund plus interest, or
b) a request for a solution to the issues detected - either by increasing the area or by reducing the final price according to the reduced new area ?

Of course in order to consider b) you should still think that an office space in Business Bay is a good investment / that Dubai economy is getting better / that the final construction quality of the offices will be acceptable / etc.

But in any case, we should consider that we are dealing now with a Developer that is related to government / Land Department, so which one of the options is actually more feasible? What Law Firm has real possibilities of getting a favorable ruling against such a contestant?

I would like to hear your comments. I am also in favor of creating a separate platform, to gather more investors and with some kind of access control.

Regards,
Paparulo

 

[Khairallah]

As per the law when a project is taken over by New Developer, if the Buyer has not entered revised SPA, has full right to terminate SPA and claim for refund along with interest. New Developer along with the project takes over all obligations of the old Developer. Henceforth, legal action has to be taken against both.

Our strongest argument is delay in construction work. Please note that faster you a file case is better. Judgment must be obtained before the project is completed.

Dubai Land Department is not going to do anything, only way to get money back along with interest is to terminate SPA and to claim refund. There is high possibility of getting favorable ruling and executing it provided immediate action is taken.

In all three projects taken over by Developer Properties construction work has degraded, offices at present are sold at AED 850 per sq ft on net area basis and many unreasonable clauses in revised SPA.

 

[aichavmill]

Re: TAMANI ARTS Offices Business Bay

I would like to draw your attention to the fact that you are entitled to compensation if a developer decides to reduce the area of the unit that you were purchasing. I have had a similar issue in the past with a property in Dubai Marina and when the "new" developer sent me a "revised" SPA, I approached a lawyer and understood the ramifications of it. Find yourself a good attorney who specialises in real estate. If you want I would be happy to refer you to the good people that helped me. Send me a message and I will forward them details to you.

Good Luck all!

 

[paparulo]

Please provide info

I would like to draw your attention to the fact that you are entitled to compensation if a developer decides to reduce the area of the unit that you were purchasing. I have had a similar issue in the past with a property in Dubai Marina and when the "new" developer sent me a "revised" SPA, I approached a lawyer and understood the ramifications of it. Find yourself a good attorney who specialises in real estate. If you want I would be happy to refer you to the good people that helped me. Send me a message and I will forward them details to you.

Good Luck all!

Please send me a private message so I can give you my contact info for you to send me the lawyers´data.
Thanks,
paparulo

 

[aichavmill]

Re: TAMANI ARTS Offices Business Bay

@paparulo please send me an email on aichavmillattherateofgmaildotcom

I would be happy to help. I especially dislike when the common man is taken advantage of because they lack sufficient information. I have found that seeking a lawyer was the best decision I made and my law firm was especially very hands on.

I look forward to hearing from you.