Attention Queue point buyers-let's join hands together

[tipu]

Hi Rone1999 what did you do? Did you cancel?

 

[sk123]

Zedch,

Where in the contract it is mentioned that you will get your money back if the delivery/possession does not happen by end 2010. Infact all the contracts are betweem Tamweel(Lessor) and the customer in this case us(lesse). There is no mention of any Obligations from Mazaya's side. Please can you tell me which type of contract you have and the page no.

 

[zedch]

I'll check and come back to you

 

[zedch]

You probably received 2 contracts a big one between you and Tamweel and un second one between Mazaya and Tamweel.In this one page 7 paragraph 5.7 you will find what I am talking about.It's true that this contract is between the devloper and Tamweel who represent you.So if the project is not ready you can trough Tamweel ask to cancel and get your money back except for delays caused by Force Majeure.
Definition of force majeure is also described in this contract and keep the door wide open.
Now we are aware that Q point will not be ready on time.So why Tamweel don't wait utill end December then ask Mazaya to terminate the agreement.This way they will get their money back and same for us.I am sure there is something going on between them that we are not aware of.Maybe Mazaya will use the Force Majeure case like said LAURA on the first page.

 

[QPointLoss]

Since nobody came together, its no use me taking the fight alone, as i can never win against builders and financers all alone, so i have decided to walk out. Best of luck to others, keep waiting, till one day Tamweel sends a letter and ask you to pay all the amount it paid to queue point, say you made a downpayment of 80k and tamweel paid 200k till now for your property and its staying in 2nd floor since last 7 months and things are on hold.

Don't say nobody can ask us like this or this will not happen. This is UAE , this is how it happens and they will force you , put in jail or deport you in end as if construction was stopped because of you.

Anyways best of luck.

 

[shakeel50]

Please forgive me if i was not replying to messages since all the messages were going to spam. Today I received the message from Qpoint loss and seeing a lot of messages. However, i had received two direct messages to my email seeking my opinion in regard to whether i received any offer from Tamweel to exit. No i did not since my project has started recently. I feel they are offering this one to only those whose projects are about to complete.

There could be an arrangement between Mazaya and Tamweel where later will try to obtain exit offers from as much as investor possible and make a secret dealing with mazaya at discount rate and cancel a few projects at later stage. It will be a win-a-win situation for developer and Tamweel and only loser will be investors.

We have group of members who are fighting same kind of case for sky court with national bond and dubai bank. We are gathering today in Al Ghusaid to discuss the strategy. Let me tell you that they are in around 150 numbers and they have already entered into an agreement with banker to reduce the rate by 2% and finally agreeing to 6% since current EIBOR rate is around 2% still benefiting bank by 4% spread.

Same is the case with us where we have agreed for 8% and we can take our case to Rera, banker & developer one by one.

The purpose of today's meeting for sky court is asking discount in the rate since his expenses would have reduced as raw materials have become quite cheaper now in today's scenario. AT the same time we are planning to ask for compensation for delay in handover.

I urge to all of you to join hands together! Kindly send me your details whoever wish to raise this issue and fight for this cause. There should atleast be 50 members to discuss and take the case forward.

We can meet on 24th June at 9pm at Creek park.

Please confirm presence by sending either direct email or through this forum.

[email protected]

Shakeel Ahmad

 

[zedch]

I finally met someone from Tamweel and they offered me to exit loosing my deposit like all of you.After thinking about the actual situation and future,I also decided to walk out,even with the big loss that i'll face, more than 100.000

As you probably did,I signed checks before signing the contract and when I see some clause I laugh on myself and think how did I accepted to do such a stupid thing.Some clause in Force Majeure (acts of god,war,invasion, etc...) has nothing to do with force majeure (non delivery or delayed delivery by either the master developer or part therof or breach of contract by any contractor or subcontractor,...and so on...) but I signed this document and cannot go back.

That means they can delay as long as they want because Mizin for example did't finish the roads etc....It can be 1,2 or 3years.

If I take the remaining money plus what I can save in the next 3 years I'll probably be able to invest in cities where regulations and value are well in place.I don't think I'll be able to win this war or even start one.

As they say "Khalli walli"

Shakeel said "There could be an arrangement between Mazaya and Tamweel "

I don't think there is one because I also met someone from Mazaya and they suggested me to ignore Tamweel and continue with the project.
At my opinion relation is under degradation between them.



Good luck to you.

 

[queuepoint]

hi all,
I am also in the same position as most of you. Tamweel contacted us and made the same offer. My question is, since Tamweel is the financier and is representing the investor, should they have not met their financing obligations and not paid the builder as per the agreed upon payment schedule (which is the case with my unit),shouldn't I be able to get out of my contract with them (by paying them what they'd paid so far) and deal with Al Mazaya directly? thanks

 

[zedch]

Here is what I understood from Tamweel and Mazaya.

Tamweel is offering people an option to quit or continue because some people are not able to pay as they speculated.
By the other hand Tamweel has financial difficulties and are also happy to see people pulling out.
As they cannot force you to quit, they will explain that according to the actual market it will be better for you to stop now specialy for people who bought at 700 dhs the square foot and more,the actual price is 400dhs.

Mazaya is saying we are doing our best and it became a challange to finish Qpoint but we will have delays due to several factors like Master devloper etc...

What you can do is refuse the offer of Tamweel and continue.They will finish by telling you in a couple of time we are pulling out from the project,then you will have to give them what they paid.
Now if you want to stop with Tamweel you can do that anytime you will pay 4 or 5 percent of what they already paid.

remember Tamweel is not forcing you to cancel or saying we can't pay.But they try to push you to cancel using the actual downturn.

 

[shakeel50]

join queue poinr

cut & paste the address given below to join the group for the


queuepoint : Queue point

 

[shakeel50]

queuepoint : Queue point

This group is comprised of the owners of Queue point project. The purpose is to gain benefit by group action at a common platform. The immediate goal ahead is to act upon together to find solution to reduce losses/expenses in today's recession time. Though class action does not bind but it is effective way of presenting our demand.

Your opinion is welcome and share your ideas, experiences and opinions with other members freely so that we make a common judgement to achieve our goal.

It is incumbent on all the new members to provide details about them in database so as to monitor speciality of each member in various fields for the benefit of group members.
Further, details about units and finance will bring members together with similarity to discuss with each other.

Welcome to Queue point Owner's group Assocation!

queuepoint : Queue point

 

[shariq]

Hi there,
Is the queue point forum still active here?