City of Arabia Project

[norman1950]

Thanks for the response.
Its as you say a saga. I too am having no response from RERA Registration but Miss. Khawla is the person dealing with both I&M and MT her direct number is 00971 4 2030 339 but she never seems to pick up, the call then gets passed to general enquires.
I rang my other contact Mr Saeed yesterday and he said he would look into the reason why I&M had changed to 'under cancelation notification' but MT was still showing '..decision'. He asked for me to ring him back today which I did. He said that the Notification was a second stage of the cancelation process and he did not know why MT had not changed too. He also tried to contact Khawla but without success.
He is part of Rera liquidations and said that when the project has been cancelled by the Registration department it gets passed to him at liquidations and then he prepares the paperwork for the court.
He also suggested writing to liquidations, which I also did, he said I would get an automated response which I did the same as yours.
I also rang Yashar at IMG but again this was a waste of a phone call, all he said was that the legal team under Khaled Chaaban were looking into the situation.
So no further progress another frustrating series of calls and emails, it's so pathetic dealing with Dudai developers and Government, but I will continue to fight.

Norman

 

[TCU LUX]

Well that's a bit comical because Wadi Tower is actually a structure that's almost complete while Metro Tower is still below ground! By the way I have an interest in both towers.

I would like to mention that I did a site visit to COA a few months ago and got a guided tour of WT - which was interesting to say the least. I was also shown some models of the 'new' plan for COA which included a large section of land being zoned for Villas ( which are all the rage in Dubai right now)! I think the villas replace large parts of the Wadi Walk area.

From some of the insights I got, I understood that WT was in some way financed by a local bank and would have to be completed...at a pace that suited IMG of course. It was also mentioned that they were looking at turning WT into a hotel/apartment type building to accommodate the visitors for the Adventures Park. I'm not sure what parts of what I was told was truth or just fantasy.

To be honest I've come to terms with having lost my investments - it's easier to sleep at night - but at the same time will not go down without a fight.

Keep up the good work Norman and thanks for your posts. I will also post if I have any further news.

TCU (Triple7 for you CAIG fellows)

 

[savais]

Hi TCU, Thanks for sharing your experience with the site tour. So, in your opinion, IMG still think Metro Tower project is going ahead? Whats the stats on Wadi Tower? The external structure looks complete, what about the interior? I am shocked that Wadi Tower is further along the cancellation process than Metro Tower, considering the progress (or lack of) of each tower.

 

[TCU LUX]

Hi Savais,

I received some feedback from RERA recently. I was told was the MT was on it's second cancellation notice and that WT is on it's first notice i.e. MT is further along the cancellation process (as expected). Not that I believe for one minute that either will be cancelled. IMG have too much 'wasta' and would suffer an unacceptable loss of face if this were to happen.

In the meantime we have zero news from IMG.

This would never happen in a first world country. Real Estate in Dubai is a joke. One rule for locals and another for everyone else.

Does anybody have any news?

 

[norman1950]

Dear All

I noticed a new development on the Rera Tracking service this morning. Metro Tower has been moved from 'Under Cancelation decision' to, wait for it, 'Conditional Active'.
The accompanying note from Rera says 'Rera took the necessary and guarantee action for (the) projects activation to ensure the completion and delivery of the units to the investors….
So a new twist, goodness knows what this means, maybe the tower will get built, maybe we will be stalled for another 5 years,
Any comments

Norman

 

[TCU LUX]

While Wadi Tower has been changed to Active! With a Project status as "progressing" --- not even a mention of the huge delays.

This is a clear example of the way things work in Dubai. IMG are locals and will always get their way - while we investors are of no consideration at all.

RERA/Dubailand are a waste of time. Again, locals helping locals to do what they want.

 

[khadija88]

hey guys have your properties been registered with the OQOOD system...cause if the project gets cancelled... it might cause an issue

 

[norman1950]

Register, OQOOD

Dear khadija88

Can you please advise me how best to register with OQOOD?
I have already registered my details on the DLD project update site. I live in the UK, and as a consequence it would be difficult to do this registration in person in Dubai if required.

Thanks

Norman

 

[dubaiguyver]

Very interesting, thank you!

 

[Lional]

Oqood???

hey guys have your properties been registered with the OQOOD system...cause if the project gets cancelled... it might cause an issue

Dear Khadija88

Thank you for your information, Could you please advise us how can we register with OQOOD? does this registration require that we have to be in Dubai personally? and where this department of OQOOD situated in dubai?

thank you

Aza

 

[khadija88]

Dear Lional and Norman

Firstly, do u guys have any idea if you have paid your OQOOD fees to the developer? if so you should have the initial sale of Contract. ( which will be 1 or 2 pages, do not confuse it with the SPA- the Sales Purchase Agreement). which is the the proof of your registration.

if you do not have it, you need to ask the developer about it, since it is his duty to register the same. You can send him a legal notice in this behalf.

the Department of OQOOD is in the Land Department RERA, dubai

however, if it the registration is not done as per Law 13 of 2008, it can make your SPA void.

you do not need to do it personally

 

[Lional]

I would also like come in contact with you over the phone to discuss the matter and get some advice
thank you
Regards Aza

 

[TCU LUX]

Hi all,

Has anyone been in touch with Galadari recently or made a site visit?

Nobody is responded to my emails and it has gone very quite of late - I get a sense that something is happening and we haven't been informed (as usual).

There has been no news in the media for months and IMG didn't even have a display at the Cityscape expo recently (as far as i'm aware).

Does anybody have any news at all?

It's approaching the 8th year since I invested in COA

 

[norman1950]

I agree its quiet

I agree its all gone very quiet.
I did write an email to Noureen (customer services) at IMG about documentation for OQOOD and she replied the next day with copies of the registration of my property in Metro Tower.


Norman

 

[TCU LUX]

Hi Norman,

Thanks for reply. I am a member (Triple7) and have just logged on - but I only see one post since last May....which didn't provide any info.

Maybe you could PM me

Thanks alot.

 

[Lional]

Thank you for the information Mr Norman. I live in Norway i would also like to talk to you over the phone keep in touch since i have no other contacts than this forum.

send me a text message when you have time i can call you back
thank you

 

[TCU LUX]

One of the world’s largest malls, it will offer more than 1,000 diverse retail outlets, a rooftop hotel, waterfront alfresco dining and entertainment

What exactly is the purpose of your post Azanali.

Which Mall are you talking about? Surely not the Mall of Arabia which was launched more than 9 years ago and has still not risen above sand level!

 

[TCU LUX]

I agree its all gone very quiet.
I did write an email to Noureen (customer services) at IMG about documentation for OQOOD and she replied the next day with copies of the registration of my property in Metro Tower.


Norman

Thanks. I finally got a reply.

I also read the information you were refering to on the Facebook page. I don't use FB and find it a little odd that the info provided on FB is not reflected on the CAIG Blog. Actually I don't think anyone is using that Blog anymore in any case?

To be honest, I don't think legal action is an option for most of us individual investors. The legal process here is expensive, complicated, and with a very uncertain outcome. In fact I'm sure any Judement (how ever long it would take) would not be againt IMG. Locals helping Locals. We have no protection at all.

No news from my side - just some new 'deadline' for the Theme Park ("2nd Quarter 2015").

 

[FlipItFast]

Latest news: the developer is sending out notices to "investors" (fraud victims) to pay a 4% registration fee! This is for off-plan property that was contracted to be finished SIX YEARS ago and is classified by RERA as "Under Cancellation Decision".

The lunatics are running the asylum!

 

[Amj]

Registration

The deadline given for registration is 30th June, any idea if this Registration rule applies to the projects under cancellation?

Should I pay 4% registration fee? i personally dont want to spend another penny on this project. And whats the point of registration when nothing exists at the site