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'M' Burj Dubai CANCELLED?

Discussion in 'Dubai property' started by NewLook, Nov 13, 2008.

  1. NewLook

    NewLook New Member

    Has anyone else heard that Emaar is cancelling construction of the M Burj Dubai towers and refunding the monies? Is it rumor or fact? :eek:
     
  2. georgihh

    georgihh New Member


    Yes they Started C tower
    The tower is one floor and is almost ready
    C stands for closing down
     
  3. poorwoman

    poorwoman New Member

    I bought one bed room in M Burj and when i approached them they are asked me to choose some other project if i am not in a position to pay the next insaltment. This is what i know. If anybody know more about this project pls write here. I want to know if construction had started?
     
  4. TommyC

    TommyC New Member

    So they are offering you to keep your invested money if you move it to another project? Well, at least it's better than having them say "no payment, no refund, bye bye, you're out...and by the way, thanks for the cash!".
     
  5. poorwoman

    poorwoman New Member

    The value of the Properties they are offering are very high compared to the secondary market (as u know current market very low) so either way a loser
     
  6. TommyC

    TommyC New Member

    Yeah, know what you mean. Developers riding the wave of increased property prices while construction costs are virtually the same (increase in steel and whatnot, yeah right...probably the hundreds of percent they increased the prices). They are the speculators in my opinion, with the only difference they can offer whatever price they want, if people buy and they make a HUGE profit, then great! If less people are buying, lower the prices until they do and still make VERY GOOD profits. If the profit isn't enough, cancel it, no worries, just start something new. If you got a few defaulters along the way, GREAT!
     
  7. NewLook

    NewLook New Member

    When I asked a customer care representative if this was true (that Emaar was cancelling the project), he said that as of today it hadn't been announced that they had a project cancel, but also asked if I wanted to purchase a unit in a different area.
     
  8. poorwoman

    poorwoman New Member

    Have u paid the next installment or opted for extended payment plan that they are offering?
    write ur mail id.
     
  9. NewLook

    NewLook New Member

    The property is in an area where prices were most depreciated because they were sold at the most over-inflated prices. Not one single tenant should make the next payment. That would be a bad decision. The best thing to happen for tenants would be for Emaar to cancel the project. That would be the best chance for people to at least get their deposits back.
     
  10. dubai100

    dubai100 New Member

    If it helps anyone, I have an investor that is actively looking to buy immediately in M Burj, Burj Park, Burj Place, with a very good deal. If anyone is interested please contact me.

    Cas 0505983102
     
  11. dr_property

    dr_property New Member

    M tower

    Hi,

    Good News...EMAAR is going to reduce prices of all its properties wherein you can transfer your funds to from cancelled or would be cancelled projects.

    Let me know what you have and the amount you have paid on dr_property at mcbdubai dot com..

    Thanks :)
     
  12. dlnash

    dlnash New Member

    How do you know they are reducing prices on all their properties?

    thanks
     
  13. sasherwani2

    sasherwani2 New Member

    Any update on Warsan estate?
     
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