Royal Estates by Shah Rukh Khan 2015

Discussion in 'Dubai property' started by Rataburat, Jul 15, 2015.

  1. Rataburat

    Rataburat New Member

    I bought a unit in the new restarted project of Royal Estates in Dubai. Its now a joint venture between the developers Texture Holdings, Aristocratic Star and Pacific Ventures. It seems the same as was happening with previous project of Texture, al khail heights, that the SPA (contract) is delaying. They are not giving anyone the SPA even after a couple of months booking the unit. I heard they want to have 30% payments first, that means that's a very long process, seeing the payment plan.

    Are people cancelling because of this?

    Any different experience you guys have?
     
  2. zmiuca

    zmiuca New Member

    @Rataburat

    Have you got any update on SPA, just wondering? I'm considering to buy one of the last units available but the whole setup of the developer/previous history of the project does not really spark much confidence.
     
  3. Rataburat

    Rataburat New Member

    No update, still same story after 30% payment. You said the rest. It may work out I dont know, but its not orgenized well, and you need to be able to deal with long time stress.
     
  4. zmiuca

    zmiuca New Member

    I just had a meeting with one they sales guys today. What they telling me is that the SPA is by law (not sure which law) related to 35% payment. In other words, SPA can't be issued unless 35% of the payment is completed.

    The procedure, in his words, would be that somebody from their side will contact me to initiate the SPA once 35% payments are reached and at that time I should pay the ogoog 4% fee and some other admin fees.

    The other strange thing is that the Developer is actually Texture not Aristocrat, but the bank account on which you're suppose to deposit the funds is on Aristocrats name.
     
  5. Rataburat

    Rataburat New Member

    Then let them show you this law. Oqood can be like that, but spa is your official contract in which it should be mentioned when will the unit be ready and if its a good developer with convidence, penalties if they deliver over time. The way i see it now, they go beyond this by giving spa late, and you can be sure that your unit wont be ready on time.
    The other thing ng is that they keep change their promisses. First it would be with 15 to 30 days after reservation. After they said it can take two month and now they say 30% and to you 35% wow. I bet they wont give spa till deliver time of unit, whi knows when.
     
  6. Hi
    I am investor in Royal Estate Dubai Investment Park. Please let me know If they have started construction work.

    Regards
     
  7. I have heard that project is sold to new owners which is very bad news How come you sell project which was launched in 2014 no construction work so for and sold to new owners.If you are not capable developer why you invite Shahrukh Khan to Launch the project and waste investors money.. This project was 1st Launched in 2007. Nothing was delivered to investor.
     
  8. Royal Estates Buyer

    Royal Estates Buyer New Member

    Hello,

    Is this still an active forum? I, too, have purchased units at Royal Estates and am very discouraged that construction has yet to commence as of today, April 10, 2016.

    Please reply...thanks.
     
  9. Saraxhk

    Saraxhk New Member

    Hello...

    I am planning to Purchase in Royal Estate.... today i have a meeting with Texture Holding agent... Pls. let me know if Al Khalil Heights is Good or Royal Estates ? after reading all the reveiws, I am Confussed ?
     
  10. Dennis Cortez

    Dennis Cortez New Member

    Just a friendly advice... most investors are being offered with off-plan projects like these and get stung from the developers who cannot finish the jog. I suggest you only invest on these projects if you have so much money and can afford to lose otherwise it's a headache and sometimes heartache!

    If you plan to do Buy-to-Let then it's always better to invest in a finished project where you can monetize straight away or live on it the next day. For me, this is #Investment101 don't speculate... get the facts :) Hope this helps.
     
  11. ankhal

    ankhal New Member

    I bought one unit since July 2015, they promise that they will start the construction on December 2015 unfortunately nothing so far, so I have visited texture office in Dubai to claim my money back they let me talk to the responsible person and he explained to me that I cant get my money back, however if I will insist, it will be through the Dubai court and in the end it might take ages to sort it out. I am really worried about this investment specially with the history of this company 2008/2009.
     
  12. SPRING1947

    SPRING1947 Member

    HI ALL
    THE ROYAL ESTATE PROJECT IS ON CANCELLATION LIST. PLEASE CHECK RERA PROJECT PROGRESS REPORT.
     
  13. SPRING1947

    SPRING1947 Member

     
  14. SPRING1947

    SPRING1947 Member

    HI ALL THE INVESTORS IN ROYAL ESTATE WE SHOULD GET TOGETHER TO CLAIM OUR MONEY BACK FROM TEXTURE
     
  15. ankhal

    ankhal New Member

     
  16. ankhal

    ankhal New Member

    We have been on the sites and we can confirm that no construction is going on, the site is closed,
    We have invested in two units and we agreed to get together in order to get our money back, kindly advice how should we proceed
     
  17. Jayan.Spdm

    Jayan.Spdm New Member

    Both projects are under cancellation in RERA portal.
    945 2 THE ROYAL ESTATES PLOT.2 Dubai Investment Park First Under Cancellation Notification 13-12-2007 9.69 [​IMG] [​IMG]
    1514 3 THE ROYAL ESTATES PLOT.3 Dubai Investment Park First Under Cancellation Decision 24-06-2014 0
     
  18. ankhal

    ankhal New Member

    It is clearly mentioned on RERA portal that the project is cancelled, We have contacted Texture to face them with this fact , however they are insisting that the project is on and the RERA system should be updated soon, We claimed our money back , however one of the managers there said that they will deduct big percentage from our money 30% approx., otherwise we can always go to Dubai court and she told us that it is a long process.
    so lets find a better way to get back our money with minimum losses

    I have sent a complaint to RERA email, and I will keep you posted whenever I get a reply.
     
  19. Jayan.Spdm

    Jayan.Spdm New Member

  20. great investor

    great investor New Member

    I suggest that all of us write to RERA., what's going on is really weird
     
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