Bermuda views

[Hessie]

Thanks!

Nice to see someone else on here.

Any idea what sort of prices the sales achieved / what sort of discount was necessary?

Many thanks

 

[del1]

Developer confirmed today that handover will not be March, would not be drawn on a confirmed date.

 

[JohnnyHHH]

I am afraid to say that my experience with Profile has been horrendous - terrible lack of communication, an inability to respond to basic questions and in the rare event of a response to a query an inability to address the questions raised - all laced with a very patronising attitiude. Fundamentally I no longer trust them - what a sad state to be in. Sorry I cannot provide anything at all uplifting.

Hi Hessie.

I have had a nightmare with this, Profile (now IMSJLT) are now demanding additional payment, have you received such requests, I have invested in Eagle Heights.
As far as I'm concerned I have lost my deposit (only about 15%) so will not be progressing further, but am interested in any knowledge of any action they have against me further as they are in breach of contract anyway being about 4 years late.....

 

[JohnnyHHH]

Hi Beers32

I have invested in Eagle heights, via profile (now IMSJLT),I requested to cancel out of contract in 2009, but usual null response, now they are demanding additional payment (only deposits paid in Escrow). Am interested if by walking away if there is anything they can do as prepared to swallow deposit and put down to costly experience !
Do they actually have any legal right to force monies from me !

 

[JohnnyHHH]

Hi Von Von.

Have you had any update now its 2015......
They are chasing for additional payment (I stopped at deposit as requested to pull out in 2009). Any useful information, can they claim any additional payments as I am prepared to walk away !

 

[jasonkate]

Hi Bermuda Views investors. Just t let you know I've been approached by the developers asking if I would like to sell before completion.
Not sure where I stand. Any advice would be grateful.
Saying that they said they would only give my details to an agent who has requested from them for potential sellers.
Advice please

 

[del1]

Hi Bermuda Views investors. Just t let you know I've been approached by the developers asking if I would like to sell before completion.
Not sure where I stand. Any advice would be grateful.
Saying that they said they would only give my details to an agent who has requested from them for potential sellers.
Advice please

Don't touch it, they are looking for units for half nothing! They are not giving offers at a fair price or anywhere near market value and have illegally tried to get involved in a resale recently.

 

[saga56]

hi All investors
yes we have been approached to sell but its not market valve and they are trying to get people to sell way below the price. also have received email about the cut off date for the land registry at 4% which had to be paid by 30th June 2015 but we have been told that they have extended to October

 

[jasonkate]

So what value are they offering ?.
No one seems to put any figures on the
Reply.
Does anyone have any news on the final
Value of 1 bed apartment ?.
Are they in breach of contract ? Let's
Be honest this project is at least 5 years late.

 

[del1]

So what value are they offering ?.
No one seems to put any figures on the
Reply.
Does anyone have any news on the final
Value of 1 bed apartment ?.
Are they in breach of contract ? Let's
Be honest this project is at least 5 years late.

One Beds are going for between AED600,000 to AED700,000 depending on various factors.....size, floor, view etc.

As per the contracts we are all out of contract and entitled to our money back. The developer refuses to acknowledge this and claims the only way they can bring investors value is through a built out.

RERA officials will tell you to go to court for your money back even though our contracts which were created by Government agencies and master developers prohibit us from so doing, as the contracts say that we have to go to arbitration in front of three arbitrators for any conflict resolution solutions. Developers refuse to pay their arbitration fees so investors have to pay developers fees in advance to get a hearing. If an investor was successful in arbitration which is quite likely they then have to go to court to get an enforcement order against a developer. It's a costly and time consuming decision to go down the legal route for the return of money paid to date. :banghead:

 

[jasonkate]

Thanks for the info Del1.
Do you know of any buyers that have gone down this path?.
Or any action groups which have been set up ?.

So what do we do now. If anything.
Write the money off. Where do we stand on handover ?.

All information is a help.

 

[del1]

Thanks for the info Del1.
Do you know of any buyers that have gone down this path?.
Or any action groups which have been set up ?.

So what do we do now. If anything.
Write the money off. Where do we stand on handover ?.

All information is a help.

Regards buyers going down the arbitration route, no.

Yes I represent the below;

Welcome to www.ConcernedDubaiSportsCityInvestors.com

(a.k.a The Dubai Action Group)

Everything depends on the financials of your unit and where you stand and what your circumstances are.

Send me a PM and we can set up a call if you wish.

 

[philipsmithdxb]

Hi everyone,

I have read through many of your posts and may be able to offer some advice/updates...

I have just spoken with a friend of mine who visited the Bermuda Views building a few days ago and met with one of the agents for the developer.

My friend said the building is almost completed. He was in a few of the apartments and they look fine. The lifts are also working and the DEWA installation is being done now. There are only some minor works to be finalised - cleaning, broken glass, maintenance etc but on the whole the building is almost ready. My friend was advised of a handover date of Sept/Oct (although he believes it may be closer to Nov/Dec knowing the processes here!)

I understand the frustrations that many of you have had due to the delays and lack of information/response on this project. Unfortunately this is something that seems to happen all too often in Dubai, with various developers. I too have experienced this first hand with family investments and also through many clients who have had similar experiences. The good news is that it does appear that completion is imminent albeit much later than expected.



Thanks