D1 tower dubai

[Datum1m]

I hope to get a response by the 24th and will keep you all posted with the outcome. Having read the D1 correspondence again I cannot see how these guys can treat us this way! For them to pull Force Majeure and then try to keep this in force (part of it anyway!) after taking the final 30% is unbelievable! I spoke with D1 today who advised that they have a generator onsite and the power is on....what good is a generator?? D1 also advised that the cooling system issues have not been resolved....so there is temporary power but no ACs ???? The building itself is not complete as I have received updated photos from friends who have visited this week....all in all I cannot and will not accept D1 terms and whats another 2 years anyway...they've already had 70% of my money for nearly 6 years!

If they can use a generator NOW to give us electricity why did they not offer this solution a few years back instead of claiming Force Majeure. The answer is simple the building was not ready and it was a blatant get out of jail card they played to stop us investors from claiming our money back and now when it suits them they offer temporary power to claim our remaining money.

 

[Datum1m]

Jonn UK,

Would it be possible for you to share the pictures your friends took, what I am interested in apart from the building not been ready is where are they in respect of finishing the swimming pool and external amity areas, inside the building is the gym completely fitted out with equipment. I intend to rent my Apartment out and I have no intention of paying them anymore money until the building is fully operational. They marketed the D1 has an upmarket residence with top class facilities, so until everything is completed my view is the building is not fit for its marketed purpose.

I also feel that we should offset our final payment to the developer by any tangible claim that a Lawyer says is fair and reasonable, it is better to keep the money in our pockets than pay them 100% and then try and claim compensation from them through the courts. If we have a justifiable claim NOT TO PAY THEM IN FULL then let them take us to court for any money they feel we are wrongfully withholding.

They are years late in handing over our Apartments and it has been well documented in the media that they have had finance issues and have had to restructure their finances, it is this lack of finance (and only this lack of finance) that has caused these many years of delay.

I am also of the opinion that there finance arrangements reply strongly on obtaining the 30% balances, they will have convinced their lender that we investors have no legal rights to withhold or claim compensation for their inability to perform, so we need to demonstrate that this is not the case.

 

[Datum1m]

Hi All,

It would seem that everyone has gone to sleep with the clock ticking down to the 15th March handover, why are members who showed they wanted to do something whole gone very quite?

I found this news story about a proposed new law dated back in 2012, where it states the developer would not be able to handover Units without things like Swimming Pools being completed.

I was very much hoping for a response from John UK regarding the pics that a friend of his took, is the D1 Swimming Pool fit for purpose?

Link http://www.emirates247.com/property/real-estate/dubai-investors-to-get-full-refund-if-developers-default-on-handover-2012-04-29-1.456094

 

[John UK]

Delayed Inspection

Hi all,

Apologies for the delayed response - problems on the work front!

Well I'm afraid the Inspection of our units did not take place and have been postponed by the developer until....well that's the million dollar question - I don't know??

However, I do have information to share. From an Inspection of another property that is currently for sale in D1 I can confirm the following:

- The Building Completion Certificate has not been issued and according to ministry officials this could take another 3-months (96.7% complete).
- The finishing of the apartments is not what was expected both in terms of quality and finishing
- If you purchased your apartment with a balcony in order to enjoy the fresh air and views then you will have to be content with the views as the balcony is completely enclosed by glass?
- The Pool is being progressed and appears to be of good quality and is huge - should be a nice area when complete!
- There is no access to facilities of the building i.e indoor pool, cinema, gym etc, therefore one can assume that there is still works going on to complete?
- I don't believe all the lifts are operational; however, the corridors leading to the individual apartments looked smart although unfinished. The entrance doors leading into your apartment are more suitable in an low budget office rather than a luxury high rise development?
- Power to the building was 'Sketchy' due to temporary power (generator).

All in all I was disappointed. I can see that in order to bring the apartments into the 'luxury' which I was expecting will cost me many thousands of DHS! I hope you guys have a better outcome.

More legal advice necessary!

 

[rabhatia1]

Gentlemen,

I've been looking online for a while now if there are any other disappointed parties who have purchased apartments in D1. Unfortunately, we ended up purchasing FOUR units in this building and have been stuck ever since. We would like to use two of these apartments for ourselves and live there but have not been able to do so for the past three years. We've been paying rent at our current location for all this time.

I can offer a lot more information about the property if this helps since I live in Dubai. My parents visit the work site very regularly and we have good access to the building. I will try to list below everything I know:
1. We are now past March 15, and we still dont have any news on when the building will be ready.
2. The BCC has not been received and is not expected till the end of May.
3. I have spoken with contractors on site working on mine and other people's apartments (hired privately by us) and they can confirm that they don't think the building can be ready for another 1.5 to 2 months.
3. There are CARPETS used in the hallways on all floors. The carpets are of a terrible dull brown color and sooner or later they are going to get extremely dirty.
4. The apartments about the 45th floor are not completed. Apparently, there are about 1200 men working on site to expedite construction.
5. I did the inspection for one of my apartments and I must say I am very disappointed by the quality of construction. The tiles are of very bad quality. The cabinets in the bedrooms are of extremely low quality and will have to be replaced without a doubt. The doors are cheap and the wall edges are shabby (not straight). ALL the light switches are fixed crooked. I wrote six pages of points on the snagging report only to find out later that the contractor will "try" to fix whatever they can. Which basically means they will do nothing. I am at a loss here and cannot comprehend that we are simply at the mercy of the developer to hand whatever they want to us. This makes no sense to me for the amount of money we are paying.
5. The building still doesn't have power and they are continuing to use that as an excuse. However, I don't think the government will give a damn about any of their requests since they will just claim that the building is not ready and there is no point providing utilities.
6. The pool work is on going. The gym equipment is already in place. I have not seen the theater yet (probably because it's not ready yet).

Overall, I am very disappointed in this property and will likely have to spend considerable money to upgrade my apartment. All the people that work there seem to sympathize with us when they hear our complaints but absolutely nothing is being done to address any of them.

I am interested in proceeding legally but I worry that it will be nothing but a giant waste of time. Does anyone have any experience with this? Happy to talk to anyone of you if you would like to take this up further.

Thanks,
RB

 

[John UK]

JB

Hi RB,

I am of the same opinion and although I will take over my apartments as and when they are complete I have no intention of leaving it at that! We all have the right to take legal action against the developer as there claims over the years are simply nonsense and invalid and will not stand up in a Dubai Court - I have had meetings with 2 legal firms in Dubai who have both confirmed this! It may be expensive initially; however, you can expect up to 9% per year return on your investment...that's up to 6 years (several parties have already received this percentage for claims on similar projects).

I hope to be in Dubai sometime in June and would be happy to discuss this in person.

John

 

[D1 investor]

Hi gents, I m one of the d1 tower disappointed investors too, I bought the unit in 2013 based on the quality that I ve seen in the demo apartment. But after seeing mine I can say it has nothing to do with it except the layout and the kitchen.
I totally agree with Rabhatia1 on what she reported. I took pictures of the defaults and I can say that they hired a very low cost contractor. I filled 4 pages of repair points and send the pictures to the handover manager. I wish i can share them with you on this forum.
I visit the site from time to time to check the area work progress, and it seem that they are progressing fast but no idea about the quality!!!.
I did my snagging in mid March and by mistake the agent showed us the indoor pool work progress and first thing I ve noticed is that the people working there has nothing to do with the ones in uniforms who we can see from outside!!!
in Final I m expecting to spend at least 100K for a 3 dbf unit to get the standard I was waiting for.

 

[Datum1m]

Based on the information regarding specification changes to the quality of finishes from what the developer promoted within their mock show Apartment there seems to be a further case to not only off set the final 30% payment by loss of revenue due to late completion, but also sub-standard finishes.

I now feel there is a valid case to off set the final payment for more than the 30% we owe, meaning they need to pay us money upon completion.

In the UK if a counter claim is greater than what is outstanding (which in this case would be 30%) then nothing is paid until the dispute is settled by the court or a mutual agreement reached out of court.

Not sure how this works in Dubai, but I would rather keep my 30% and use it to fight them in court than hand it over and then have to fund a legal case, why should this developer get away with poor finishes and late completion.

 

[D1 investor]

Hand over closes

checking the SP agreement I found this close in paragraph 3.1.2 that states:
" The anticipated completion Date may be extended by the seller for any period or periods up to a maximum of six (6) calendar months and/or as otherwise extended by force Majeure in order to complete the construction of the unit and the development"

so by this close the developer can extend the handover date up to 15/09/2015!!!!
so no need to heat we can only wait and hope.

 

[Datum1m]

checking the SP agreement I found this close in paragraph 3.1.2 that states:
" The anticipated completion Date may be extended by the seller for any period or periods up to a maximum of six (6) calendar months and/or as otherwise extended by force Majeure in order to complete the construction of the unit and the development"

so by this close the developer can extend the handover date up to 15/09/2015!!!!
so no need to heat we can only wait and hope.

I am not sure you understand the clause or how the Developer is using it, they are using the fact that the site has no power to claim Force Majeure and they keep extending the completion date based on that clause (they have done it more than once and will keep doing it to suit their financial interests)

However when they said completion was the 15th March they ignored the fact the building had temporary power and wanted to handover our Apartments with NO permanent power. So really they shot themselves in the foot because RERA said they were not complete, but this action showed how despicable they are because how can they claim Force Majeure for something fundamental like no Electric for many years and then say no Electric is OK you need to pay us and take your Apartment with temporary power.

Please understand they are SHARKS and all they want is our money for a product that is of poor quality

 

[ant1]

I'm looking to buy an apartment here; when I went to see apartments I was actually impressed, but need to say I've never seen the demo apartment.

D1 investor, as you've been following this whole drama for a while, when do you reasonably expect to move in? I'm looking at a 1BR which was seemingly done and ready to move in? Is it only the 2/3/4BRs that are not done yet?

 

[Veronica]

Why would anyone want to buy in a development which after so many years still is not finished?
Surely there are properties for sale which are actually built?

Ant1 read the thread properly and you will see that people are very unhappy with their purchases on this development. Why would you want to risk your money here?

 

[Datum1m]

D1 Tower

The D1 Tower is near completion and investors are very unhappy with the length of the construction period, but that issue will not be a problem for people buying to live their and the D1 Tower is in a excellent location.

Please see images https://www.google.com.au/search?q=d1+tower+dubai&rlz=1C1ASUC_enAU601&espv=2&biw=1516&bih=710&tbm=isch&tbo=u&source=univ&sa=X&ei=55w8VZCAFsX4mAXSooCADw&ved=0CCsQsAQ

 

[Veronica]

In your own words Datum

"Please understand they are SHARKS and all they want is our money for a product that is of poor quality "

:typical:

 

[Datum1m]

D1 Tower

Yes in my opinion the developer is a SHARK, because they refuse to take any financial responsibility for a development that should have been completed back in 2010 according to their original sales literature. With respect to quality this again is an issue relating to the expectations of the original buyers, that does not mean NEW people viewing the Apartments with a view to buying will be unhappy with what they see for the money they will be paying.

When we bought back in 2008 the prices we paid were much, higher than what the Apartments are selling for now, so people who are now buying in today's market will be comparing the quality against similar properties in Dubai and coming to their own conclusions on whether the specification and quality is equal or better than what they can buy elsewhere in Dubai.

The original buyers have an issue with what they thought they were getting for their money but new buyers are not paying anything like the same amount of money and may not have the same issues.

I hope my explanation explains the difference in original buyers issues and why new buyers may not have the same issues.

 

[ant1]

I do have concerns yes, I've been doing research for a while. I do expect prices to drop further, so am not ready to buy yet, unless I find one for an excellent price.

 

[Peter39]

Prices in general have fallen because of a "market correction" after they increased when Expo 2020 was announced.

D1 prices in particular have fallen because some investors can't pay the final 30% Completion payment and are therefore prepared to sell at distress prices.

Once the D1 and Palazzo Versace handovers are done, prices will stabilise and as Culture Village sees more development and the infrastructure is completed we can expect to see prices rise. The hotel in the Palazzo Versace are already taking bookings for September 2015 and this will put Culture Village on the international map.

Whilst there may be problems with the "finishings" in some apartments, the D1 remains an iconic tower, in a very good location (near airport and business district) with (if Creek facing) fabulous views. With the Creek extension, the Creek will become a main thoroughfare and living next to it will be highly desirable.

And NO...I a not a real estate agent, I am an investor in the D1.

 

[Datum1m]

I do have concerns yes, I've been doing research for a while. I do expect prices to drop further, so am not ready to buy yet, unless I find one for an excellent price.

ant1, What floor levels have you been looking at and what price are you expecting to pay?, I have Agents contacting me asking if I will sell to their cash ready clients, but they offer silly money, so a deal is never done. Like Peter say's the market will improve like all markets do over time, we are just in another cycle.

 

[D1 investor]

new developper notice

hi every one, I received this email from the developper a week ago:

"... We are very excited to announce that on April 28th 2015, TECOM (the authority responsible for building approvals) attended for the official building completion inspection. We anticipate that the final inspection by TECOM will happen within 2 weeks. After receiving the building completion certificate we will be sending you your handover notice as soon as possible. This in the next step towards occupation of your unit.

Moreover, we have been informed by the master developper, Dubai properties Group, that great strides have been made with the external infrastructure and we are assured that full infrastructure will be completed by end of June. In the interim we are adopting measures to mitigate any shortages.

It has been a long journey and we unreservedly apologize for the time that has taken to complete this spectacular waterfront development. Finally, with the opening of Palazzo Versace Dubai anticipated for later this year, it will not be long before..."

So by end of may we should be called for handover!!!
we can only wait and see :smile:

 

[Saram87]

Hi

D1 Tower

The D1 Tower is near completion and investors are very unhappy with the length of the construction period, but that issue will not be a problem for people buying to live their and the D1 Tower is in a excellent location.

Please see images https://www.google.com.au/search?q=d1+tower+dubai&rlz=1C1ASUC_enAU601&espv=2&biw=1516&bih=710&tbm=isch&tbo=u&source=univ&sa=X&ei=55w8VZCAFsX4mAXSooCADw&ved=0CCsQsAQ

I am looking for investors in this building to exchange some informations.

Hi i was wondering if your unit is available for rent