Ilyas & Mustafa Galadari Group

Can you guys please comment on this master developer.
How do you rate them as compare to Nakheel and Emmar etc.
Are they Reliable at all ?
What they have delivered and whats coming up from them.
Any sort of information will be appreciated.

Regards
Shahrez Khan

 

i have concerns

i bought in city of arabia - wadi tower - 6 months ago.

IMG are the developer and so far i have not received a contract despite numerous emails etc. i have had one response saying they are working on it.

I paid 10% down and have a mortgage which i cannot start without said paperwork.

I fully expect an ivory tower situation and to be told my contract is cancelled as i have not paid the next installment. bear in mind this would be paid the second they send me the contract.

i expect this as the price jumped significantly after i bought.

i do not trust them and they are 2 years behind on the development.

i wish i had bought anywhere else. i fully expect to be cheated.

 

Galadari group have the muscle power and I don't see a cancellation. It's just that you have got into an investment which will take long to take off.

Regards

roshan

 

I think in the same way like Roshan! IMG is not a bad developer at all but i have to admit that they are way behind schedule and that projects like Wadi Tower will need time to take off fully... But the appreciation in price will be very high! I bought in Wadi as well back in 2006. So far prices went up by 100%... Just check GNAds4U.com - Properties and see hoe much people are already asking for Wadi Tower! Once construction started (which actually has) and Podium is ready so that people can see something prices will go up further. I can totally understand your position that you feel bad and cheated when they are not answering etc but this is the case everywhere in Dubai with each developer! I have invested in BusinessBay as well in 2 Projects BOTH developer very seldom answer my calls or my emails they just dont seem to bother...
Just relax and wait for another year or two By the way at what rate did you buy?

 

I agree, they will not cancel the project, but there will be huge delays. Mind you, the same can be said with the majority of projects in Dubai, so don't worry. I have a property there as well, and am comfortable with it.

 

Rightly said, if the entry level was low, one shouldn't be bothered with completion.

Of my 3 investments, two have been delayed by over a year. Does not bother me as the entry level was low & the prices ( on paper atleast ) have gone up.

Besides, it's not good for the building to come up and all the construction all around.

Regards

Roshan