Received this today, from HMA exec, so it could be back on track soon, first time I have received form developer or without actually prompting them.
Rgds
Caroline
November 1, 2009 HMA EXEC LTD
C/o Al Obaidli & Al Zarooni Advocates & Legal Consultants
PO Box 125237
Dubai, UAE
Dear Valued Purchaser,
Following our recent correspondence, please find below status update on our project Bermuda Views located within the Dubai Sports City master plan.
Since we received the relevant permits for the initial works, we have completed fencing, shoring and all excavation works 100%.
HMA EXEC Ltd has now awarded the main construction contract to ACC LLC and we have applied for the building permit from Dubai Sports City. Due to issues relating to the original appointed contractor of the project, coupled with the extended handover of the land, we are aware that the project is running late as per the initial estimations to its completion. We are committed to the successful completion of the project and currently anticipate handover to be mid 2011.
We have completed the initial and updated required technical audit to RERA and have indeed issued the authority with a revised payment plan to link customer installments to the progress of construction, as is their more recent requirement. This payment plan will be issued to purchasers in the project once the regulatory body has approved it.
At this more advanced stage, our management agreement with Profile covering client services and indeed construction management of the tower has now expired and we are actively looking to place the project with a client services team in the city in order that queries can be satisfied.
In the interim period, over the next week we will launch a dedicated website for the project that will provide constantly updated information relating to the progress of the project, general information from RERA, updated payment plans, contact details and photographs of the current stage of the construction.
We are inline with the requirements relating to the secure escrow account with RERA and have submitted our audited accounts as per the laws of the city.
HMA EXEC Ltd look forward to the commencement of the main construction works of this exciting project once we have received the building permit from Dubai Sports City.
For any meeting appointments/queries please contact us through e-mail at
[email protected] For and On Behalf Of HMA EXEC Ltd
Bermuda Views [email protected]