Investors against interpretation of law no 13

[Roshan]

So what happened to this group and its fealess founder? Silenced? I havent heard anything for ages.....

Let's give it to the guy who had the guts to stand up. We should appreciate his action more than the result.

I am not saying that he failed, but I appreciate the trouble he took to make a point if not get results.

Regards

Roshan

 

[TommyC]

It's still alive and kicking, don't worry. It's been a bit quiet during the holidays but as people keep receiving threats about cancellations on long overdue projects the member numbers keep increasing.

I've sent a PM for some contact details.

 

[dbxdude]

Let's give it to the guy who had the guts to stand up. We should appreciate his action more than the result.

I am not saying that he failed, but I appreciate the trouble he took to make a point if not get results.

Regards

Roshan

Absolutely i give it to the guy. I just dont want this group to go quite. I was wondering if they had been silenced thats all and if not whats next....

 

[nictt]

Hi all,

Is there any update on this at all?... The RERA website is STILL showing that it is 30% of monies paid and not 30% of contract value to be forfeited!....

 

[TommyC]

Hi all,

Is there any update on this at all?... The RERA website is STILL showing that it is 30% of monies paid and not 30% of contract value to be forfeited!....

Still no update, it's still only the interpretation that is around. Don't let the website fool you!

 

[dubai_or_not]

Excellent post - ***MUST READ***

We are going to send this letter to RERA and the Ruler of Dubai if there is anyone on this forum who would like to sign then please PM me

Hand Delivered Petition against real estate practices that harm Dubai

...

A brilliant, intelligent and well measured response - everyone on this forum should sign up immediately!!!!!!! Just do it ... if they listen, it just might save DUBAI.

 

[queenb84]

Hi Datum1m. I would like to sign the petition but I'm a new user on this forum so can't PM you. Please give me ur contact details. Also, when do you propose to submit this document to the authorities?

 

[loai]

sign me up....

 

[starbuyman]

hi

i too am new to this forum, i am in a similiar situation and most certainly wish to add my signature to the petition! pls forward me your contact details.

 

[aligoldy]

Fantastic work

I have read through you're petition and it seems there are many many people who are in the same situation.

I would like to update you that over here in the UK there is going to be a huge marketing campaign on behalf of Dubai through the media. Furthermore they are going to be highlighting the EXPONENTIAL growth in the real estate sector.

They are trying to get more people trapped and further fill their coffers with equity to fund projects!!

Are you based in Dubai?

Maybe we should send all teh information you have received to the british PM?



Regards

 

[Dusty in Dubai]

Would like to sign up to - please send me details

 

[aligoldy]

Hi

my contact details are as follows:

07971041749
isbarali @ hotmail. com


Regards


Isbar Ali

 

[aligoldy]

Kieran

Just read you're thread how are things going with that guy mohammed any progress?

I'm in a similar situation; Im thinking we go to gordon brown and lobby him to exert some influence. A few other guys agree.

Check page 18/19 on this thread


regards


ali

 

[dbxdude]

Trump investors please pm me

Investors in trump do not be rail roaded into picking up rapidly depriciaing stock at twice market price. Lets get together and fight nakheel in the courts and the press.

 

[Datum1m]

If anyone wants to sign the petition please email me [email protected]

 

[dbxdude]

Investors in trump do not be rail roaded into picking up rapidly depriciaing stock at twice market price. Lets get together and fight nakheel in the courts and the press.

Given the new laws... cant say anything to the press, so lets just fight them in the courts... surely the land department must step in.,...

 

[aligoldy]

Whats the story about the press?

DXB i'm just about to complete the petition to gordon brown. Will update you when complete.

Do you know your local borough councilor in the UK?

 

[leo]

Please consider me in for any help that I can offer. We are also formulating a group and planning to take some action at the end of this month. Please see my posting with username Leo on dubailagoon proboards81 on page 69.

I can be reach via e-mail najm(at) hotmail(dot)com or phone number 050-7287816

(As I am new to this forum there for not allowed to attach link or e-mail address)



Regards

 

[dubai_or_not]

Will this Help? Land Department lifeline to help property buyers

http://www.business24-7.ae/Articles/2009/1/Pages/01252009_a1687f70364c4f3ca16e362fbf3cef99.aspx

Land Department lifeline to help property buyers

By Parag Deulgaonkar on Sunday, January 25, 2009

Investors facing cash-flow constraints can approach the Dubai Land Department for rescheduling payments for their properties, a senior government official said.

"Our goal is to maintain the contractual relationship between the two involved parties [developer and buyer] and so the most we can do is allow people an extension to arrange money or reschedule their payments," Emad Eldin Farouq, Senior Legal Counsel, told Emirates Business.

"Although there have been some cases of payment default, we have not yet terminated any agreement. We are assessing the relationship between the two parties. The administrative circular, which we had released on November 10, 2008, has managed to so far stop unjustifiable cancellations."

A few developers are offering flexible payment options to investors, with the global credit crisis making it difficult for buyers to pay mortgages on time.

Moreover, payment defaults can lead to attachment of the property by competent authorities, or even allow the developer to move court.

According to Farouq, the decision of any extension or rescheduling is taken on a case-to-case basis and usually a "reasonable" time is granted to buyers for arranging the money. The Land Department is also finalising the regulation aspects of laws already introduced – such as Law No 7 of 2006 concerning land registration, Law No 13 regulating the interim real estate registration and Law No 14 of 2008 on mortgages.

The Land Department has finalised regulations for the implementation of the Strata Law (owners' association and master community declaration and general regulations),which will be released after necessary approval.

Industry players have been urging the release of the regulations to complete the Strata Law in order to bring in transparency and protect buyers and owners.

Is this department different from RERA

 

[zanis]

Developers to rework pricing packages

And more news...

The year 2009 will be a year of correction in the real estate market, according to a Dubai-based developer.

"This year, we will see restructuring from developers, who will rework their pricing package in a way that will establish reasonable prices in the market," said Taha Mohammed, Chief Executive Officer of property developer Tiger Properties.

"The UAE Government has a very intelligent way of structuring the economy and expatriates will continue to find the UAE market an attractive destination to invest in. Remember, there is a lot of trust left in the markets in the UAE. This year many developers will be involved in organisational re-evaluation," Mohammed told Emirates Business in an interview.

He said new developers in the current UAE market need to first ask themselves if they are in the business for the short or long-term.

—Secondary market prices have dipped around 20 to 40 per cent in Dubai. As a developer, would you lower your prices in the primary market?

—Secondary market prices do not drive the benchmark prices of a developer. We developers will not fight with the secondary market. The secondary market prices definitely impact the psychology of a buyer but developers are not reactive to them. As a master-developer, we will re-evaluate our pricing strategy.

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