Elite in sports city

Discussion in 'Dubai property' started by djaan, Nov 17, 2008.

  1. djaan

    djaan New Member

    Dear freinds,

    if anyone bought units in Elite sports residency(1 till 7) In sports city please join us as we are group of investors joined together to discuss and promot our interests against developer.we are currently 18 people together and more investors are welcomed.

    reagrds
    Djaan
     
  2. PropGuy

    PropGuy New Member

    I've 3 units, what is the problem?
     
  3. nmachat

    nmachat New Member

    I have a studio at Elite 7. What is it that you are forming a group for? I may have some of the same issues you all have.
     
  4. showbiz

    showbiz New Member

    I also have an apartment in elite 2, I think we should try to get the payment plan altered according to construction. As far as i am aware construction has not started on elite 2.
     
  5. TommyC

    TommyC New Member

    Another reason to join up if you haven't already. Be sure to send an email to Investorslaw13 @ hotmail . com (remove blanks). We are all stuck in this toghether and this is one of the points we will try to deal with. And also, be sure to spread the word!
     
  6. memo123

    memo123 Member

    I bought in Elite sports city

    After seeing their progress report
    I want my money back in full and wont pay one penny more . for this developer has done nothing while he has been claiming that building is in progress , I asked my lawyer who advised me to stop paying since nothing has been done , not even 10% of ground work . I asked the developer if he would reschedule payments and he claimed that, that is not possible becuase "building is in progress"
    If you need any more info please pm me
    consider me with you .
    P.S this developer had full intention of reaching Elit 12

     
  7. Milhouse

    Milhouse New Member

    Hi I have three units in Elite 1. Can u please tell me have they started construction?
     
  8. PropGuy

    PropGuy New Member

  9. vanityfair

    vanityfair Member

    What is the issue here? I have a studio in elite 6. Construction has now started. Completion scheduled for Sept 2010. I think it is too early to start panicing. July/August and Ramadan are notorious for site go-slow in Dubai. Wait and see what has been carried out on site March 2009 and then review the status.
     
  10. vanityfair

    vanityfair Member

    At last Triplanet has sorted out there web site. Construction updates on each elite project. Project information and other sport city updates are now available. Lets hope they keep the site updated regularly.
     
  11. Stephendxb

    Stephendxb New Member


    For all investors of the Elite projects. The new website has been launched, here you can find the details of each project Triplanet Group with photos showing the current state of construction.
    (This step alone is more than some of the larger developers have done) I will monitor the progress carefully over the next six months for Elite 6, as I have a unit there. It should become very evident if Triplanet will complete or not in that timeframe. Personally I believe they will, but I wish they would sort out some in house finance.
     
  12. vanityfair

    vanityfair Member

    I have just arrived back to UK from Dubai, viewed Elite 6 eariler this week. Only at ground work stage. I was last in Dubai in April and quite impressed by the overall amount of work already carried out within Sports City. Elite 1 and 2 still only on ground work.
     
  13. Fra&Cat

    Fra&Cat New Member

    Djaan
    We also bought a studio in Elite 6, and our next payment is end of January 2009. We're in two minds about what to do, we don't want to pay anymore, but then again, if we don't pay, we're afraid that it'll end up in a legal case -and that's the last thing we can afford!

    I don't know what you are planning on doing, but we would like the payment plan to be revised i.e. next payment due after completion of 1st floor, and continue payments on completion of the following floors.

    Personally, I think a diplomatic approach is needed. We should be assertive, but not aggressive.

    Please let us know what you suggest.
     
  14. memo123

    memo123 Member

    Have you recieved the SPA yet

    I just recieved the SPA for Elite 4 , 8 months late and in it it says that if i forfiet payment not only will i loose all but also pay all legal fees and any losses the develpoer would incure from selling the unit at lower price and I have to bear all additional financing fees in addition to paying all legal fees against me !
    CAN YOU BELIEVE THIS
    AND NOT ONLY THIS i recieved it today
    and he dated it 10 th of August ?
    I asked DHL to give me a reciept for the delivery to show it to RERA
    I have already paid 50%
    not fair not fair at all
    regards
     
  15. memo123

    memo123 Member

    Dear all
    have any of the elite investors recieved SPA to sign yet and if so
    have you gone through it please give me your feed back
    need to know should I sign or not for it has plenty against the investor
    regards
     
  16. vanityfair

    vanityfair Member

    I have invested in Elite 6 and received and signed contract in May.
     
  17. vanityfair

    vanityfair Member

    Could not see anything in contract that was untoward. All funds held in escrow account. I do not see a problem with the development. Behind schedule but has now started.
     
  18. memo123

    memo123 Member

    Are you serious

    have you bought one yourself and have you gone through 23-1and 23-2 in the SPA?
    REGARDS

     
  19. Stephendxb

    Stephendxb New Member

    Dear Elite 6 investors ( myself included ) As with many Dubai developments, this one is running late. I like many of you are worried due to the current turmoil in the market and rumors of developers pulling out. But Tri-planet have at least created a website and if they post regular progress updates this will instill a lot of confidence. it will also be my personal basis for making the next payment.

    All I can say is I have talked to them regarding adjusted payments and they will listen and deal with you on a one to one basis. In my opinion what is really needed is for them to appoint/approve a bank offering finance on all the Elite towers. This would mean that those who have already paid + 30%, (in most cases this is now 40%), they can at least be eligible for a mortgage, instead of the large quarterly payments.

    There is also a lot of pressure in the market for developers to link payments with construction progress, but as with many things, time is of the essence.
     
  20. memo123

    memo123 Member

    I have paid 50%

    IN Elite 5 , and have seen nothing off the ground yet , I don't know why you are so hostile all i am trying to attain here is are you all happy with the spa clauses?
    and have you all received the spa yet , for i have just received it and i am not happy where all the clauses are in favor of the developer
    AS For the payment adjustments , i have spoken to them and said they wont adjust the payments.

    no one will defend a company like this unless you are an agent and you are after your commission .
    best of luck


     
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