Al furjan phase1!!!

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New Member
Hi All,

I would like to know what peoples view is on the Alfurjan phase 1 project with regards to how the developer Nakheel is treating the end users? Apparently alot of the end user have a lack of capital and they are unable to sell the Alfurjan unit or any other asset since the problem is the same everywhere. Nakheel are reluctant to do anything at the moment.

Does anyone have an idea of how many investors are unable to pay I would like to start a forum and dicuss collective action and this may bare more positive results.

What is likely to happen for the investor/end user whose upcoming instalment is due in March 2009 and that cannot pay due to the global downturn:

1. Nakheel is waiting until the end point before deciding what to do?
2. Nahkheel will do nothing and those that cannot pay will default
3. Nakheel will give discount
4. Nakheel will change payment schedule.

What are your views incase it's possible to make the payment is it still worth doing, is the Alfujan unit going to reduce further in value as time passes? I heard that the construction is a head of schedule.

Incase a lot of end users default will the developer still continue with construction and flood the market with cheaper units?

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