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Chapal The Destiny Sports City

Discussion in 'Dubai property' started by ShacksT, Feb 12, 2009.

  1. ShacksT

    ShacksT New Member

    I have a unit in this development which was due to complete in Dec 09. I have been advised (not by the developer) that there is up to an 18 month delay on the completion.

    Having contacted Chapal they tell me I cannot delay my future payments in line with this and that this is in the contract. I have paid just over 25% and I have yet to receive a contract.

    Considering all the bad press I have been reading lately I feel there is no certainty that Chapal will even complete the development and it will be shelved like many others.

    I am unsure of my rights and wondered if anyone can advise me of what they are and what I should do.

    The payment plan I signed up for was that I paid 50% up to completion and the rest over a further five years.
     
  2. tp2105

    tp2105 New Member

    they cannot cancel your contract without RERA's approval, i suggest you contact RERA and express your concerns, as i too am having the sames problems
     
  3. financier888

    financier888 New Member

    This is true IF the project is in Dubai - however, if it's in Ajman - this is not applicable... (not sure where the locaiton of this development is as Chappel is largely a developer in Ajman
     
  4. tp2105

    tp2105 New Member

    According to ARRA the same will apply to projects in Ajman, they will have to have and escrow account set up and a construction based payment plan. Again ARRA will not let the developer cancel a contract, it must go through them.

    April is the deadline for all projects to be registered unless they are 50% completed, and none of Chapal projects are at that stage yet.
     
  5. dr_property

    dr_property New Member

    Chapal


    Hi,

    Well, they obviously can't ask you to pay as per the old payment plan as every developer is giving a payment extension. As for the developer, to be honest, they are not in a good situation so I recommend you to visit their office instead of calling them.

    If you are not in UAE, it's no problem as all you need to do is send your documents to me on dr_property at mcbdubai dot com...as my name suggests that's what I do...help people like you as I am also one of you :(

    Thanks :)
     
  6. patience

    patience New Member

    Hi,

    You are not alone we also invested in this development and are having an awful time with this company. We have invested 65% for a hole in the ground. More info can be had by joining this group skyscrapercity. I'm glad I found this group thou as I don't know many other investors in Destiny.

    Did you not get a letter informing you of the so called revised payment plan. We haven't seen the revised payment plan just a letter saying there will be one. (weeks ago)I could write a book about the nightmare crap company that they are.
     
  7. patience

    patience New Member

    Chapal, Destiny Towers in Dubai Sports City.
    We have just had a letter from them asking us to sign a new contract not in our interests, especially agreeing to a longer completion date and taking off the 1% late payment fee they are supposed to pay us if the development is late.

    They have also included a new payment plan not in line with RERA, asking us to keep making payments over a longer time, even though they still haven't started building.

    Of course we do not agree to any of this and will not sign their new contract. I feel if they don't honour the original contract they should pay us back the market value of the unit and with interest. I feel a court case comming on. Can I do this with out a solicitor and from the UK. Or can I take them to court in the UK as they have a UK office? I will look into this. I think I can take them to court in the UK.
     
  8. financier888

    financier888 New Member

    It is often standard in any contract, that their is a clause that states the jurisdiction of the agreement - you sign a contract in the USA or in Singapore - it is then governed by USA or Singapore law respectively. In you case - you signed with an agent in the UK - it may come down - 'to whom you sent the payments.' - maybe the first payment went to your local agent but where did the subsequent payments go? if to the UK agent - you may have a case in the UK which has more clear-cut laws and more evolved rule of law - either way - you'd need to consult a local solicitor...
     
  9. oasis2buyer

    oasis2buyer Banned

    Just like so many in Dubai Sports City - more skeletons in skyscraperland in the sand!!

    The Destiny (Chapal) - Dubai Sports City - it's right next door to Oasis 2 Tower -

    BNC Project No.:pRJAE0726409
    Project Type
    :Residential ( Multi-Storey (Over 15) )
    Progress
    :Under Construction
    Est. Completion:December, 2012
    Plot Number:R3A-13
    Area:Dubai Sports City (DSC)
    Created On:December 15, 2007
    Last Updated:January 11, 2010

    Companies
    There are 9 companies associated with this project:

    * 2 Owners
    * 2 Consultants
    * 3 Contractors
    * 1 Real Estate Company
    * 1 Financial Institution
     
  10. oasis2buyer

    oasis2buyer Banned

    There are also laws that are not being enforced correctly Sure its easy to set rules but who is there to enforce the lawbreakers= these developers are getting away with millions of dollars and there is no law there to protect the buyer and yet the buyer is still required to appoint lawyers at their own expense - Why? - there are no need for laws if they are there to be continually broken and the crooks continually getting away with it because they know they can. Lawyers won't do anything to protect the buyer they are only there to protect the developer (who has access to lawyers).

    Escrow accounts were made law on 28 June 2007 why then are so many developers after this time continued to ignore this rule of law.

    Why isn't the following being enforced?

    What are the penalties for violators of the escrow law?

    A fine of not less than 100,000 AED and imprisonment for an undefined period will
    be imposed on anyone who engages in any of the following activities:


    • Developing property without a license;
    • Submitting false documents/statements to the authorities in order to obtain a
    license;
    • Advertising units from a bogus property development knowingly;
    • Misappropriating funds paid to the developer for the development of the property;
    • Being an auditor, preparing false reports or concealing facts;
    • Being a consultant, approving false documents; and
    • Being a developer, dealing with an agent who has not been registered with the
    Dubai Land Department.

    The registration of a property developer will stand cancelled if s/he:


    • Declares bankruptcy;
    • Violates any laws connected with real estate development;
    • Cancels his/her license; and
    • Doesn’t start construction within six months after getting hold of approval from Dubai Land Department for selling property off-plan.

    How many developers have violated the above and how many have been brought to justice??

    Where's the list of de-registered property developers which RERA were to make public?
     
  11. financier888

    financier888 New Member

    You are absolutely correct ! I have asked the same question many, many times and can only conclude they (RERA) are choosing NOT to enforce the very laws that were created to protect investors. Their inaction sends a clear signal - 'THEY DO NOT CARE' as many of these errant developers have already skipped. It will be YEARS before investors will feel secure enough to come back to Dubai and what you have succintly outlined is merely the tip of the iceberg - or sand castle as the case may be. Very sad indeed. They should all be sacked - UNLESS - this mandate came from the top. Time will tell but for most, time has already ran out along with their life savings.
     
  12. oasis2buyer

    oasis2buyer Banned

    I almost rolled over laughing when I read a recent post because I couldn't believe that there are some investors who actually think that they can trust whatever RERA put on their website in respect to progress as being factual rather than listening to the investors who have factual proof that their investments are on hold and the developer has liquidated and there has been no progress going on for some time!!

    These depts are actually designed to protect the likes of agents/developers not the investor who has poured their hard earned monies into something believing it all to be aboveboard. In other countries these type of departments well in some countries they (the agents) have to pay a membership fee to belong to it, not sure what happens in Dubai but I would assume it would be the same case scenario.

    It's like a union exclusive for agents/developers who in turn are protected. Yet they all claim it is there to assist or what is the term they seem to use now to protect the investor against developers - what utter bs. They are like a nail in the coffin to any investor. They pretend to be working as a go between and can only be taken with a grain of dubai sand because it just doesn't happen! Instead of the ruler dealing directly with the situation/problem they appoint public servants who do not respond to letters of complaints (even on their own websites) and when you contact them by phone they refer you to some other contact and that contact does nothing and does not respond either. It's specifically like this to frustrate the investor into giving up the chase and hopefully in their minds the problem will go away which is what they wanted to achieve by setting up this dept in the first instance - job done!!..
     
  13. georgihh

    georgihh New Member

    It is very simple.
    The construction must slow down or even stop, so the demand meets up with the supply.
    RERA are protecting the developers, because this is the only way of stopping them to build.
    The developer wants to build and can still make money, but they are not allowed as the supply will destroy the city. Unless the demand starts growing up don’t expect any fast constrictions in the near future.
    To cancel a project is not very easy as the developer will claim money from the government.
    To increase the demand people are needed in this town and the government is not acting to attract the foreigners.
    I really don’t know what the plan is, but this situation cannot last forever.
     
  14. Sixgun

    Sixgun New Member

    whatever the plan, it's too late, because as you say, the government have made it painfully obvious to foreigners that they DONT WANT them, long term.

    They want their money, and they have tricked plenty out of us so far, and even seem arrogant enough to believe foreigners are slow learners and perhaps will continue throwing their money into the giant sand-pit.

    Whatever they promise now, well sorry.. TOO LATE, I wouldn't believe a word of it.

    Fool me once, shame on you,
    Fool me twice, shame on me.
     
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