Parklane Tower at Business Bay: Chnage of Developer !

Discussion in 'Dubai property' started by paparulo, Apr 2, 2015.

  1. paparulo

    paparulo Member

    Dear Investors in PARKLANE TOWER at Business Bay:

    Are you one of us? As you know, a new developer (The Developer Porperties/IAH) has taken over the project from the original one (KM Properties).
    Now they are sending out NEW contracts to investors where they change areas, payment plans, etc, adding new clauses, etc....

    It is important that we as a group review the changes and negotiate what is best to our interests. Please join the discussion and see how we can accomplish this!
    Thanks,
    p
     
  2. RezaF1

    RezaF1 New Member

    Parklane Tower

    I'm an investor in Parklane tower, and like yourself I have concerns about the new contract presented as the office space I purchased has shrunk in size. Please contact me

    Regards,

    Reza Farkhondeh
     
  3. imohamed

    imohamed New Member

    We are group of investors. Our Gross area was 905 sq.ft. Now they are offering only 377 sq.ft. net area without changing the original amount. Thinking of taking legal action. Any feedback would be welcome.
     
  4. MuhammadRaza

    MuhammadRaza New Member

    Hi Mohamed,

    As per RERA guidelines and the law - the developer is allowed some variance in size and this will be stipulated in the original Sales Purchase Agreement (SPA).

    This amount is normally 10% however this does vary from developer to developer.

    I would highly advise you to look at the original SPA and what tolerance was provided and offered by the developer - no way they can shrink the size to less than half and still charge you.

    If they have breached the SPA you can lodge a case with Dubai Land Department (DLD).

     
    Last edited by a moderator: Jun 7, 2015
  5. paparulo

    paparulo Member

    Dear Sir,

    I have no way to contact you. Please either send me a private message here or apply for membership as indicated above.
    Regards,
    paparulo
     
  6. paparulo

    paparulo Member

    By the way, this is the way to apply if you want to join our group:

    On Google search: type "google groups" --> click on "google groups" --> click on "browse all" --> type "tamani arts 2014" --> click on "tamani arts 2014" --> click on "apply for membership".

    See you there! Join soon as we are ALREADY taking action!
    Regards,
    paparulo
     
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