We are concerned investors in Red Residence Dubai Sports City. We would like to hear from any other investors in this project who may have concerns of any sort. Our concern is the shortage of information for the last 6 years from MED. On a recent visit to Dubai our son-in-law made a site visit by appointment with the Developer who showed him around and in particular showed him our apartment. The project does seem to be reaching a conclusion in terms of structure Our problem now is the information he was given by the developer's representative It appears the way we understand it from him that the way the development will be handled once it is completed and all final payments are made could be contradictory to the Addendum to Sales and Purchase Agreement Briefly In this Addendum it states that there will be a 20 year leaseback to MED who will manage the project at a level of service and quality similar to a 5 star hotel. Similar apartments will be pooled and the rental income shared amongst the owners after costs and expenses being maintenance fees, municipal fees, master development fees and sinking fund. The way we now understand it from the information given to our son-in-law and also confirmed by MED by e mail to us is that the apartments will be let out on a normal term and we are told it should bring AED 65 000 per annum for a 1 bed unit. (Although not guaranteed we were given a figure almost 3 times this when MED compared this project to Arabian Crowne back in 2006 which would have been a decent return) This figure was given to us as a typical rent for a 1 bed apartment in Dubai and we were directed to websites which were letting out normal residential apartments as opposed to those being run similar to a 5 star hotel with nightly rates. MED are going to take a 40% fee after expenses basically for letting out an apartment in a normal way like any other estate agent Whether there will be a restaurant, shops and boutiques referred to in the marketing material is yet to be confirmed and yet the most recent update says the project will be ready end June 2014!! We are currently unable to get any responses to these issues from MED causing us this concern that they are not going to run it in accordance with the contract. We are being ignored. We just get generic updates. Apologies for the length of the post but wanted to get across the concerns we have.