Elite in sports city

[Stephendxb]

Construction linked plan

Dear All,

I have read very conflicting stories regarding the financial capabilities of Tri-planet. I have also heard conflicting news about the amount of work started on each project.

What I would like simply… is some reassurance. I have paid plus 40% for Elite 6 and until last month nothing of any significance has started on the foundation work. I only feel it fair that payments are linked in future to construction progress, for example.

On Booking/Signing the Reservation Form - 5%
On Completion of Excavation & Shoring - 15%
On Completion of Basements & Ground Level Slab - 15%
On Completion of 5th Level Structure - 10%
On Completion of 10th Level Structure - 10%
On Completion of 15th Level Structure - 10%
On Completion of Entire External Structure - 25%
On Completion & Handover - 10%

If this type of linked payment plan was applied it provides major investor confidence. In fact I wouldn’t be surprised if RERA introduce a regulation along these lines in the near future. Again, if Tri-planet is financially secure, then adopting this type of plan shouldn’t be a problem. I would like nothing more than to see all the Elite projects progress.

Finally, if anyone does visit DSC, regardless of which Elite project, please take a few photos to share with others on this forum.

 

[memo123]

RERA AND DEVELOPERS

I spent there two days in RERA , i saw legal consultant that i don't think that he knew how to read the contract for i asked if these terms in the SPA for if i default , he didn't give any concrete answer , I also told him according to your rules we all should have gotten this SPA 60 days after signing the MOU , HE GOT A CALL from some one waiting outside so he ran instantly AND LEFT ME ! I entered with one question and came out with 10 and even more puzzled , the people there told me to go to a lady on the third floor that is very smart ,
i went to see here , she told me he cant put new clauses that were not in the mou, second if you have paid this much , and how many floors it was and handing date than he should be in the 9th floor , so you have plenty of time before you pay next , AT LEAST 7 MONTHS , i said how , she replied that now all payments are linked to building , she also advised me to register my unit so i reserve all rights to my full amount paid if the developer defaults, also penalty if the developer is late on delivery . she had to go to a meeting , and couldn't finish with me , i needed that in writing . then went to the basement , where you give them the project name and they see how it is doing , the man was so cooperative and told me to come tomorrow and he will give me escrow, balance and work progress, for according to them they send inspectors to the sites .
I went early morning charged to register my unit in the ground floor, and when i got there i thought let me go to another legal consultant for the first one was a waste of time , so i met a nice cooperative consultant who told me that you can't just register your unit , i said how , and as for the SPA you have to go to a lawyer and the property court to contest this SPA .
he said
1- make sure the developer is registered
2- make sure the project is registered
3- make sure that your developer has registered ur unit
4- you need a non objection letter from ur developer to register the unit . and of course they wont if you don't sign the SPA.
also suggested that I go to marwan bin ghalita and show him the ridiculous SPA AND how the developer played with the dates , and changed the MOU TERMS .
So i went and i wish i didnt ,
IT was like fish market with people trying to get in and see him , masses of people in our situation . The receptionist at the door shouted call his office manager and see if he can get you in or give an appointment and also shouted the tel# , i called and called while the number of people was on the increase and he wouldn't answer.

then i went to the ground floor again for all this info , different side of the building , they said the your developer didn't register any unit and hence , u cant register.
then went back to the man in the basement to see how much is in my escrow account for he told me come tomorrow and will give me all , i saw him on the stair case and he recognized me instantly I asked , did you find the number , he said sori I didn't check . call later and gave me a number and I kept on calling but no one was answering until the day i left Dubai
So 2 whole days in RERA WERE TOTAL WASTE OF TIME , with nothing concrete at hand .

NO ONE AT RERA KNOWS ANYTHING , THE BIG GUYS ARE BOMBARDING THEM WITH DIFFERENT RULES AND INFORMATION EVERY DAY AND CHANGE IT THE NEXT DAY
SO I CANT BLAME THEM , THEY ARE THE LAME DUCKS

SO I ASK ANY ONE WHO HAS ANY INVESTMENT IN SPORTS CITY , TO PLEASE GO THERE WITH AN ENGINEER AND TAKE PICTURES FOR US AND FOR ELITES , WE NEED TO SEE THE PROGRESS OF SOME SORT
regards

 

[mpat]

My friends i also spoke to them on the phone and they were really nice and cooperative , but after that meeting , i changed my mind completely. he told me in the evening Go tomorrow when it is light and see how much progress we have made .
what they didn't tell me is no one is allowed to inter Sports city unless you lie and say you are structure engineer or site inspector . or accompanied by their own engineers which i believe do not exist , for i told the security guard to call one engineer from inside to come and get me and he refused.
i went at 7 am and was there near the gate for hours pleading with the guard to let me in , he said no way , the master planner or the developers collectively have sealed sports city . The security guard said we dont let people get in and the screamed" DO YOU KNOW HOW MANY ANGRY INVESTORS COME HERE EVERY DAY " "Do you know how much crises we are in "meaning Dubai or sports city ?
i saw so many people lie and get in .
my problem was that i said the truth . I know that lots were lying and getting in , for i was lost and there was a car behind mine that was lost too, i made two wrong turn and he did the same and had a rented car too, and when I got to sports city there were guard and gates , and you have to get a permission to get in
this man who was behind my car , heared me saying to the gaurd that i want to go and see my developer buildings and i told him the name and he refused , the man who was following me, got it and said he is a site engineer yet he looks 18, and the gaurd just let him in .
all you see are falak buildings really nice and totally finished , victory heights from a distance , the dome that was there 7 months ago and aljaber construction group that was really buzzing with action ,the 4 canal buildings no where near 50% of completion,and 3 white two floor very small buildings not finished and i think they are the sports academy and not finished . I must have called the chairman on his mobile almost 15 times but he can see that it is an international number ( my number) then at 9:15 he just closed it, i called triplnet may be 30 times until 9:30 non stop , I called them at all the numbers i have for them to let one engineer come out to take me in to see with my own eyes the progress. the security told all other entrances on his walki talky not to let me in and he gave them my description , he was speaking in Indian but i understood some of what he said . At the end I went through Dirt roads risking sinking inside the sand just to take pictures , there is no other buildings in site not even one floor . i tell you who ever bought in sports city is sk............, not only elite .
I dont know what RERA is doing but I am sure non of these developers can send any termination letter to rera becuase a representative will come to check the site, then the developer will get in trouble .

Hi memo

You were late to invest in dubai market and that too with a doubtful developer, (remember , me and roshan were getting surprised with the way they were launching elite 1 , 2 ,3 ,4 ,5 , .... 7 in a flash ) Otherwise sports city inside is building heavily, I have invested in sports city and I visit almost every fortnight to see the progress and never had to lie except for the first time,; some developers are commited to deliver good product in sports city, like falak , profile , oasis memon etc
Pls try to go there again and go from another gate which is near motor city,u wont need to lie,.

 

[jags]

i completely agree with the people who want payments in the line with the construction.somebody in Dubai must work and negotiate in that direction.

as regard sport sport city developement most developers except Falaks have not come above ground level.it is not just Elits but look at canal residence west launched by sport city itself and sold at much higher price than most of the developements.there is just sand.none of the tower are raised above ground.Rufi twin tower launched in April 2005 only basment is done.Cube launched in Feb 2006 same situation.Kensington Royale launched in March 2006 still hole in the ground.The Bridge March 2007 launched still excavation stage.German Tower Jan 2006 launched.neary 2 years.not even preparation work started.Champion Towers 1,2,3,4 all launched between Jan 2006 and August 2007 by Memons.they are all at the ground levels.Frankfort Tower again by Memons. no news at all on progress.Giovanni Boutiqe designer tower.launched 18 months ago.still on the ground level.Oasis tower launched exsectly 3 years ago.Nov 2005.still at foundation level.Sports One Commercial Tower May 2006.no one Knows what is happening.Rufi Century tower Oct 2007.preparation started.this are all high profile high end developements.launched way before Elites.if anyone calls them a progress i have nothing to say.there are so many developements in DM like Eden Blue, Bay Central, Infinity Towers Marina wharf which are launched by supposed to be known developers 3 years ago.they are still at ground work level.i can bring many more in the list.as i mentioned earlier does anyone have to say anything about most popular hyped up COA and JVS. how many people are in situation worst than us.perhapes much dire.the whole thing is a big fiasco.

of course i am not saying we must take consolation from these.but fail to understand why people in this forum haven't picked up on others. i would be more than happy if someone takes the lead and be in constant touch with the Triplanet on behalf of all the investors.someone in Dubai who can keep an eye on progress and the latest developement.

thanks.

 

[jags]

can somebody in Dubai maks sure that all the units in Elits are registered by the developer.what need to be done for that.

 

[memo123]

I dont live in uae .

HAVE YOU GONE LATELY ? THE SECURITY TALKED TO ALL GATES ON HIS WALKIE TALKY AND GAVE THEM MY DESCRIPTION NOT TO LET ME IN
AND AS I HAVE SAID EARLIER fALaK AND OTHER BUILDINGS ARE THERE EVEN WITH THE LOGO ON. AND Falak WERE MARKETING THE UNITS AT THE SAME TIME LIKE THE ELITE I BOUGHT ,AND THE SAME PRICE , BUT AGAIN I DON'T LIVE IN DUBAI TO KNOW Whose IS WHO . i AGREE WITH YOU THIS DEVELOPER WAS HATCHING BUILDINGS EVERY TWO WEEKS , I EVEN SENT THEM an email AND ASKED ABOUT THE PURPOSE OF DOING SO , THEY CLAIMED THEY OWN THE LAND AND WANT TO BUILD THEM , NOW I DISCOVER THE LAND IS being PAID FOR FROM OUR ESCROW !
So please when you go next time take pictures for us to see where is the"construction progress", and attach them for us . RERA has to get involved and inspect the place and find about their credibility and capability of building anything , other wise just abolish the whole thing and give us our money back
appreciate ur cooperation
regards
Memo

Hi memo

You were late to invest in dubai market and that too with a doubtful developer, (remember , me and roshan were getting surprised with the way they were launching elite 1 , 2 ,3 ,4 ,5 , .... 7 in a flash ) Otherwise sports city inside is building heavily, I have invested in sports city and I visit almost every fortnight to see the progress and never had to lie except for the first time,; some developers are commited to deliver good product in sports city, like falak , profile , oasis memon etc
Pls try to go there again and go from another gate which is near motor city,u wont need to lie,.

 

[jags]

Falaks first two towers were launched in 2005.rest in 2006 and early 2007. they were much higher price.1000diram psf.the fact that they were being marketed same time as Elits because most of the towers in the sport city were not fully sold.or may be purchased by bulk buyers.if i had slightly doubt about credibility of the developer i would not go ahead.at the time i was convinced that nothing is wrong.we all went for Elits because the prices were very reasonable.i had compared the prices with other projects. i couldn't afford it.in resale market i would had to pay heavy premium upfront.

losing money is very painful.i wouldn't wish for my worst enymy.even if a small amount. but now many of us need to take a breath and need to do introspection.
when we are investing our life saving we must follow the gut feeling. investments in another country can not be taken lightly. it is a high risk strategy. i have always followed the investment moto.not to put all eggs in one basket.spread it across the different sectors region and risk profile.any high risk investment must not be more than 10% of total assets.i have lost good opporunity in doing so.missed Palm jumeirah and spring villas because they were more than i wanted to invest that is more than 10% of my total assets. i was not yet comfortable.if i wouldn't be able to sleep at night or eat i would not go for it.in the process i will never be a multi millionire.no regrets but i will never lose roof over my head my bread and butter and heavy cost of my child's education. i will never gamble on that.risk and reward go together.

 

[PropGuy]

someone in Dubai who can keep an eye on progres

I can do that if I don't get into trouble with security.

 

[amidhadli]

elite

Dear All,

I have read very conflicting stories regarding the financial capabilities of Tri-planet. I have also heard conflicting news about the amount of work started on each project.

What I would like simply… is some reassurance. I have paid plus 40% for Elite 6 and until last month nothing of any significance has started on the foundation work. I only feel it fair that payments are linked in future to construction progress, for example.

On Booking/Signing the Reservation Form - 5%
On Completion of Excavation & Shoring - 15%
On Completion of Basements & Ground Level Slab - 15%
On Completion of 5th Level Structure - 10%
On Completion of 10th Level Structure - 10%
On Completion of 15th Level Structure - 10%
On Completion of Entire External Structure - 25%
On Completion & Handover - 10%

If this type of linked payment plan was applied it provides major investor confidence. In fact I wouldn’t be surprised if RERA introduce a regulation along these lines in the near future. Again, if Tri-planet is financially secure, then adopting this type of plan shouldn’t be a problem. I would like nothing more than to see all the Elite projects progress.

Finally, if anyone does visit DSC, regardless of which Elite project, please take a few photos to share with others on this forum.

hi if we are not happy about all this can we get all of our monies back is this allowed

 

[memo123]

thank you

I can do that if I don't get into trouble with security.

MAKE ASURE TO PARK ON THE SIDE , TO SHOW THAT U KNOW WHAT U ARE DOING , GET Your id card ready to give the man in the cabin , figure out a name for some contactor there and when u get in tell them the name and say you are a site engineer or construction engineer
give him ur card sign and get out , get abatch from him and make sure to be abrubt ,
i saw cars getting in with four people in , yet only one person get out give some contactor name or developer name, place his card sign and get out , a conversation of hardly two words
you would do me a great favore if you do so
thank you for ur cooperation and help ,
regards
Memo

 

[amidhadli]

elite

hi if we are not happy about all this can we get all of our monies back is this allowed

i have complained to the sheikh himself also if you log on to their internt site you can email i dont know if it will be looked at as i know he is really busy but i have also them complained to ecomplaint at the dubai government i think we all should do this to as maybe they can do something as rera is their dept they have set this up

 

[memo123]

He wants us to sign the spa , and he will have to pay 1%

can somebody in Dubai maks sure that all the units in Elits are registered by the developer.what need to be done for that.

registration fees for every unit , then we pay 1 % from our side ,
all of us should call him , squeeze him for our escrow statement.
and make sure that our 15% initial payment that didn't go to the escrow as in my case for he claimed they dont have escrow account in place at that time to go to the escrow account for every unit. By law all our payments should go to our escrow account , and even if we had paid early he still should take the money from his account and put it in the escrow account .
the problem he said that he kept all our escrow money as a bulk amount and not an an account for ever unit like other developers do
although when you wire transfer ur money you should state for elite ... unit ... and give the escrow account but he said in his own words " we keeps it as a bulk in the escrow account for every building " , he does not have a separate escrow account for every unit like other developers.

 

[amidhadli]

elite

registration fees for every unit , then we pay 1 % from our side ,
all of us should call him , squeeze him for our escrow statement.
and make sure that our 15% initial payment that didn't go to the escrow as in my case for he claimed they dont have escrow account in place at that time to go to the escrow account for every unit. By law all our payments should go to our escrow account , and even if we had paid early he still should take the money from his account and put it in the escrow account .
the problem he said that he kept all our escrow money as a bulk amount and not an an account for ever unit like other developers do
although when you wire transfer ur money you should state for elite ... unit ... and give the escrow account but he said in his own words " we keeps it as a bulk in the escrow account for every building " , he does not have a separate escrow account for every unit like other developers.

hi what is a spa and what do you have to sign and why

 

[djaan]

Dear All,

I have read very conflicting stories regarding the financial capabilities of Tri-planet. I have also heard conflicting news about the amount of work started on each project.

What I would like simply… is some reassurance. I have paid plus 40% for Elite 6 and until last month nothing of any significance has started on the foundation work. I only feel it fair that payments are linked in future to construction progress, for example.

On Booking/Signing the Reservation Form - 5%
On Completion of Excavation & Shoring - 15%
On Completion of Basements & Ground Level Slab - 15%
On Completion of 5th Level Structure - 10%
On Completion of 10th Level Structure - 10%
On Completion of 15th Level Structure - 10%
On Completion of Entire External Structure - 25%
On Completion & Handover - 10%

If this type of linked payment plan was applied it provides major investor confidence. In fact I wouldn’t be surprised if RERA introduce a regulation along these lines in the near future. Again, if Tri-planet is financially secure, then adopting this type of plan shouldn’t be a problem. I would like nothing more than to see all the Elite projects progress.

Finally, if anyone does visit DSC, regardless of which Elite project, please take a few photos to share with others on this forum.

hi guys as stated in my previous post i stated that we are 20 investors joint together and have started dealing with Triplanet about different issues including
payment linked to construction and quality of work and i would request all fellow investors to please join me and all others for future dealing with triplanet and believe me alone we can never achieve nothing but as team we will force them to accept our demands as many of us have already paid 40% with only a big hole
on ground. we have written them letters and have recieved answers so if some one wants to join he must have a unit in any of Elite Residency and please email to folowing email please mention you unit number

thanks
Djaan
[email protected]

 

[amidhadli]

hi guys as stated in my previous post i stated that we are 20 investors joint together and have started dealing with Triplanet about different issues including
payment linked to construction and quality of work and i would request all fellow investors to please join me and all others for future dealing with triplanet and believe me alone we can never achieve nothing but as team we will force them to accept our demands as many of us have already paid 40% with only a big hole
on ground. we have written them letters and have recieved answers so if some one wants to join he must have a unit in any of Elite Residency and please pr email me i will send more information

thanks
Djaan
[email protected]

i have sent you an email

 

[djaan]

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.

to your information they have not yet started construction on elite 3.our intention is not to disturb them but to stand for our rights because the Dubai
property market has changed to a new direction and even big developers are in diffeculties in getting liquidity into their business but our developer is much smaller as compared to all big players but dont forget our developer has went far beyond his capacity in launching 7 projects without even completing a single one.i dont want to make a negative sentiment here but before sliding further into deep hole why we dont join together and protect us.
with regars
djaan

 

[memo123]

I READ IN THE NATIONAL NEW
".The national published this in an article
"
Mr. Ghalita said the authority’s rules state that any investor who has paid 20 per cent or more of a property’s total value can halt their payments if building on the project has not started. However, he said the “illegal groups” were telling investors in projects already under construction to stop paying"
i DONT BELIEVE WE ARE ILEAGAL GROUP WE ARE AFRAID FOR OUR INVESMENT AND THAT HE DEVELOPER CANT DELIVE AND WE END UO LOOSING ALL OUR LIFE TIME SAVINGS , AND THE DEVELOPER HAS DONE NOTHING .

ALSO IN THE EXPRESS NEWS:

"
However, real estate authorities in Dubai said they are working to "clear up property misunderstandings" with a new free consultancy service starting next year. Experts will provide advice to help avoid any ownership pitfalls in the property market, said Marwan Bin Galita, CEO of the Real Estate Regulatory Authority.

"This is a new thing that is coming. We are putting in place a legal consultancy free of charge. There is no need to go to a lawyer," said Bin Galita. "This will guide you through the process. You can listen to them. They can help you free of charge. Then you can decide what you want to do."

Delays and property disputes have led to over 70 cases filed before the new Dubai Property Court seeking settlements"

ANOTHER PARAGRAPH FROM THIS ARTICLE

"Legally speaking

Investors "have to go to court to cancel their contracts, and then we will get an order to get their money back. Or, you can reach an agreement with the developer that they will deduct some amount – 10 per cent – and will give you back the remaining".

Islamic values dictate that business partners must have "both a win-win, or both a lose-lose" situation, Bin Galita said."


SO YOU JUDGE FOR YOUSELF WHAT YOU WANT TO DO , I SEE ON THURSDAY LOTS OF CHANGE AND LAWS HAVE TAKEN PLACE .
REGARDS

 

[memo123]

nO ONE IN RERA READS ANY EMAIL

i have complained to the sheikh himself also if you log on to their internt site you can email i dont know if it will be looked at as i know he is really busy but i have also them complained to ecomplaint at the dubai government i think we all should do this to as maybe they can do something as rera is their dept they have set this up

you have to go there in person give them you developer name and how much you have paid and seek legal consultant on the 4th floor
all you get if you post your mail into rera website is a refrence number which they claime they will get back to you in 48 hours , it has been 38 days since i sent mine

 

[amidhadli]

elite

you have to go there in person give them you developer name and how much you have paid and seek legal consultant on the 4th floor
all you get if you post your mail into rera website is a refrence number which they claime they will get back to you in 48 hours , it has been 38 days since i sent mine

i sent mine in october the first one and again in december i am so close to just saying to them give all monies back i am going over in jan so will go and see them and see what the developers do and also rera will hold fire till then

 

[Fra&Cat]

Dajaan,
We just sent you an email. i think we should also approach RERA together. my opinion is that at least for Elite 6 which i have bought one unit, we can not say TRiplanet is delayed. I booked in april and they told me at that time that work will start in Aug-sept 08. we can not expect to see anything above ground at this stage. the mistake was to accept the payment plan even if was not linked to construction. what i want to say is that we need to get some legal advice from RERA and then approach Triplanet asking for a different payment plan, if the new law is already in place, as someone said in this forum.
Once again i would like to emphasize that with a completion date of Sept. 2010 we cant really claim that Triplanet is late. So if we approach them, what will our argument/case be?