City of Arabia Project

[TCU LUX]

I will be traveling to dubai on monday and pay a visit directly to RERA. urge to cancel the City of Arabia's Projects and refund our hard earned savings immediately.

mean while we must send a complaint letter as ( THE MASTER) has mentioned to RERA and also a translated copy in arabic to the ministry of justice dubai.

We must refer "Tanweer law" Dubai propety buyers protection law.
i have read about Tanweer will minimize disputes and protect investors rights.

Illias and Mustefa cannot get away with our hard earned life savings the never kept up their promises up to now and going on cheating

thank you for RERA Contact number

Hi Lional,

It's been a long time since you posted. Are you aware of the recent developments.

Any comments or information from your side.

Regards,

TCU

 

[FlipItFast]

Hey Amj,

I'm in Dubai.

Also not sure what to do. I think I will go DLD with a letter stating the reason I will not make the 4% fee. But what a waste of a day that would be - especially as now is Ramadan and they will be working less hours.

I feel this will be a waste of more good money as if the projects are cancelled we will not get this money back.

So at the moment I will not pay and wait to see what will follow.

Regards

In my opinion, you should go to the Land Department. They should be able to clarify this murky situation. I will visit them on June 28 when I am in Dubai, but that is very close to the deadline.

We should be careful about jumping to hasty conclusions based on emotion. It may be that paying the fee is the better option, or rather the "least worst" option, depending on your circumstances.

 

[TCU LUX]

In my opinion, you should go to the Land Department. They should be able to clarify this murky situation. I will visit them on June 28 when I am in Dubai, but that is very close to the deadline.

We should be careful about jumping to hasty conclusions based on emotion. It may be that paying the fee is the better option, or rather the "least worst" option, depending on your circumstances.

I probably will go to DLD, and will post here with any information that I get.

Can you please tell me if you have any documents from IMG regarding registration in the OQOOD system. One member of this forum, Norman1950, mentioned in a previous post that he had received confirmation from IMG of this OQOOD registration.

Regards

 

[FlipItFast]

I probably will go to DLD, and will post here with any information that I get.

Can you please tell me if you have any documents from IMG regarding registration in the OQOOD system. One member of this forum, Norman1950, mentioned in a previous post that he had received confirmation from IMG of this OQOOD registration.

Regards

I have not received any notification about OQOOD. It is the Developer's responsibility. It appears from the RERA website that it has been paid:

"The project is registered in RERA for off plan sales "

 

[mike.stewart]

For which building in COA did you receive the 4% notification? Or do you mean that you only have investments in Sports City. Is it late? When did you purchase?

I only have one unit - In Sports City.
I signed the purchase in 2007. Have paid up 50% of agreed price.
I received the 4% notice 3 weeks ago, but not willing to pay, as I have not seen my unit completed yet.

M

 

[TCU LUX]

I have not received any notification about OQOOD. It is the Developer's responsibility. It appears from the RERA website that it has been paid:

"The project is registered in RERA for off plan sales "

Today I requested and received a copy of OQOOD registration forms from IMG.

As we bought back in 2007 it became the developers responsibility to do this registration.

I believe that today the investor has to pay a fee to the developer for this registration.

In any case, the reason I speak about this is because of a discussion I had with a lady from the DLD (by phone)

She told me that the whole point of the 4% registration was to get all properties sold registered - i.e. so that the DLD has a record of who actually bought what.

She said to me that if my properties were already registered in OQOOD that I would not have to make this 4% payment now.

While this sounds encouraging I am still cautious, as I know these people who answer phones are not exactly the sharpest tools in the box. However this lady did seem to know her facts.

In any case, I will still go to DLD in person.

 

[Amj]

Good news for those who invested in Metro Tower, its status on DLD tracking service is CANCELLED.

 

[TCU LUX]

Good news for those who invested in Metro Tower, its status on DLD tracking service is CANCELLED.

I've just called DLD/RERA and it is confirmed.

Metro Tower has finally been cancelled....after all the years I still can't believe it!!!

Lets hope this finally means IMG have to refund some money - although I'm sure that's going to take just as long.

Finally a small victory.

 

[Amj]

I've just called DLD/RERA and it is confirmed.

Metro Tower has finally been cancelled....after all the years I still can't believe it!!!

Lets hope this finally means IMG have to refund some money - although I'm sure that's going to take just as long.

Finally a small victory.

Congrats!

is this the number (600 555556) u call DLD on?

 

[TCU LUX]

Congrats!

is this the number (600 555556) u call DLD on?

Yes that's the number.

The guy told me to call back on Sunday and that I would be transferred to the Liquidations/Trust Dept. (as I called at 2pm they are gone home for weekend, Ramadan hours of opening are 9am-2pm)

 

[mike.stewart]

Paying 4%

The instructions for the payment of the 4% is not really clear.

Those of you who have paid, did you actually go to Dubai?
What if we are not able to?

Thanks
M

 

[FlipItFast]

Today I requested and received a copy of OQOOD registration forms from IMG.

As we bought back in 2007 it became the developers responsibility to do this registration.

I believe that today the investor has to pay a fee to the developer for this registration.

In any case, the reason I speak about this is because of a discussion I had with a lady from the DLD (by phone)

She told me that the whole point of the 4% registration was to get all properties sold registered - i.e. so that the DLD has a record of who actually bought what.

She said to me that if my properties were already registered in OQOOD that I would not have to make this 4% payment now.

While this sounds encouraging I am still cautious, as I know these people who answer phones are not exactly the sharpest tools in the box. However this lady did seem to know her facts.

In any case, I will still go to DLD in person.

Thanks mate, this is good information. It is still very murky however.

Does this means that Oqood is the same thing as the Registration Fee? And Galadari should have paid it in 2007 and collected it from the investors upon completion of the property?

 

[FlipItFast]

Avenue 353

Galadari have launched a new development on the City Of Arabia site:

Avenue 353 | Modern Luxury

https://www.zawya.com/story/Ilyas__Mustafa_Galadari_Real_Estate_CoLLC_Has_Awarded_AVENUE_353s_Construction_Contract_to_McFadden_International_Construction_Group-ZAWYA20150607093401/

It is registered under a different developer number named "ILYAS & MUSTAFA GALADARI REAL ESTATE CO (L.L.C)" while the old COA developments were under "ILYAS & MUSTAFA GALADARI MANAGEMENT INVESTMENT & DEVELOPMENT(L.L.C)".

Of course they had previously launched the Marvel Worlds of Adventure theme park on the site as well. Does anyone know how that is proceeding? I heard it is well behind schedule.

 

[TCU LUX]

Thanks mate, this is good information. It is still very murky however.

Does this means that Oqood is the same thing as the Registration Fee? And Galadari should have paid it in 2007 and collected it from the investors upon completion of the property?

I think this whole issue has become blurred over the years and is still unclear.

My understanding is that the contracts for sales of properties off plan had to be registered with RERA - this was introduced with LAW NO. 13 OF 2008 - Regulating the Interim Real Estate Register in the Emirate of Dubai (it preceded OQOOD). It gave the developers a kick in the ass to get all contracts registered.

At that stage the 'transfer fee' (which has become blurred into the 'registration fee') was 2% i.e. all parties had complied with their contract, all monies were paid, snag list done etc.... and finally the developer handed over a No Objection Certificate (NOC). The investor trotted over to the DLD with this NOC and paid the 2% to transfer the Title into their own name.

This is what gets me - the developers are now handing over NOCs willy nilly even when all payments are not done. In fact many investors stopped paying and are, according to their contract, behind in payments. Yet the developers are giving way the NOC?

Something really odd is going on and we are in dark as usual.

By the way - have any of you received or read any document from RERA/DLD about this so called 30th June deadline?

 

[FlipItFast]

I think this whole issue has become blurred over the years and is still unclear.

My understanding is that the contracts for sales of properties off plan had to be registered with RERA - this was introduced with LAW NO. 13 OF 2008 - Regulating the Interim Real Estate Register in the Emirate of Dubai (it preceded OQOOD). It gave the developers a kick in the ass to get all contracts registered.

At that stage the 'transfer fee' (which has become blurred into the 'registration fee') was 2% i.e. all parties had complied with their contract, all monies were paid, snag list done etc.... and finally the developer handed over a No Objection Certificate (NOC). The investor trotted over to the DLD with this NOC and paid the 2% to transfer the Title into their own name.

This is what gets me - the developers are now handing over NOCs willy nilly even when all payments are not done. In fact many investors stopped paying and are, according to their contract, behind in payments. Yet the developers are giving way the NOC?

Something really odd is going on and we are in dark as usual.

By the way - have any of you received or read any document from RERA/DLD about this so called 30th June deadline?

Useful info - thanks.

It gets even more murky when you read the Land Department web site. There is the concept of "initial registration". How does that differ from Oqood and "normal" Registration? Your guess is as good as mine. From the DLD web site:

:: Investors ::
What is meant by initial registration?

Initial registration is registering an incomplete sale (i.e. when only part of the value of the property has been paid) in the Land department databases after which a certificate is issued indicating the sale (the amounts paid and the installments to be made).

 

[Morad]

Metro Tower Cancelled

Metro tower's status is now marked as Cancelled . see project status tracking forProject number 967 or project name: Metro Tower
so whats next ? does anyone know what should we do to get our money back ?
do you know of any other cancelled cases and how long it took them to get a refund and how much did they actually get back (if any) ?

 

[FlipItFast]

Status of Galadari Projects

From the RERA Website.

Developer ID: 372
Name: ILYAS & MUSTAFA GALADARI MANAGEMENT INVESTMENT & DEVELOPMENT(L.L.C)

- Wadi Walk; 10.06% complete; Under Cancellation Decision
- Metro Tower; 6.13% complete; Cancelled
- I&M Tower; 7% complete; Under Cancellation Decision
- Octagon Tower; 0% complete; Under Cancellation Decision

Developer ID: 492
Name: GALADARI INVESTMENT OFFICE LIMITED

- G-Office Tower; 0% complete; Cancelled

Developer ID: 925
Name: GALADARI INVESTMENT OFFICE LIMITED REAL ESTATE LLC

- G-Tower; 10.50% complete; Under Cancellation Decision

Developer ID: 1040
Name: ILYAS & MUSTAFA GALADARI REAL ESTATE CO (L.L.C)

- Avenue 353; 0% complete; Active

Note that Wadi Tower (79.69% complete; Active) is registered to SKY ONE REAL ESTATE L.L.C.

 

[FlipItFast]

Dld

In any case, the reason I speak about this is because of a discussion I had with a lady from the DLD (by phone)


In any case, I will still go to DLD in person.

What number did you call? I have tried +971600555556 but I get a recorded message that the number is blocked.

Did you manage to go in person?

 

[mike.stewart]

TLG & RR completion

Anyone here currently an active client of TLG?

Are there any interested in reducing the legal cost while increasing the chances of winning a case?

Also, how complete is RR development? - 80%? 85%? 90%?

Regards
M

 

[FlipItFast]

Anyone here currently an active client of TLG?

Are there any interested in reducing the legal cost while increasing the chances of winning a case?

Also, how complete is RR development? - 80%? 85%? 90%?

Regards
M

You can check for status on https://www.dubailand.gov.ae/English/Pages/Project-Indicator.aspx

Current status is 92%.

You can check the Developer's other projects here:
https://www.dubailand.gov.ae/English/Pages/Approved-Developers.aspx

M E DEVELOPMENT has 3 other projects, 2 are active at around 60% mark, and one is cancelled.

Lat time I checked, which admittedly was long ago, group cases were not allowed. Even a single investor with multiple properties had to open a separate case for each property. You can however reduce the legal fees if everyone engages the same firm. Of course, with every aspect of Dubai property, each and every fact has to be checked and double checked!