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R
Royal state investor
New Member
To whome can make it, can we all meet Texture office on 5th Nov. 10am if we not happy with their reply meet RERA on 7th Nov.
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Aref88
New Member
Hi ,
I have invested with Royal estate for one studio , as there is no progress for more than one year i want to get my money back , i have visited there office without any result every time they try to convince to give them more time , if any one is going to there office PL let me know we will go together we might get better results
I have invested with Royal estate for one studio , as there is no progress for more than one year i want to get my money back , i have visited there office without any result every time they try to convince to give them more time , if any one is going to there office PL let me know we will go together we might get better results
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SPRING1947
Member
Hi
TEXTURE HAS REFUNDED MONEY TO ONE OF THE INVESTOR IN ROYAL ESTATE DUE TO DELAY IN THE PROJECT. THERE IS HOPE NOW EVERYBODY WILL GET THEIR MONEY BACK. IT'S GOOD NEWS FOR ALL THE INVESTORS.
TEXTURE HAS REFUNDED MONEY TO ONE OF THE INVESTOR IN ROYAL ESTATE DUE TO DELAY IN THE PROJECT. THERE IS HOPE NOW EVERYBODY WILL GET THEIR MONEY BACK. IT'S GOOD NEWS FOR ALL THE INVESTORS.
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SPRING1947
Member
TEXTURE IS DEDUCTING SMALL AMOUNT FOR ADMINISTRATION CHARGES. TEXTURE IS NOT REFUNDING FULL MONEY.
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MickeyMousse
New Member
Dear
Can you please clarify which unit you had purchased and what is the percentage they deducted? What is the procedure and did you deal with them only or did you go to DLD/court/...
Thank you
R
Royal state investor
New Member
I called texture said this is not true
They are not doing any kind of refund
Same massage as always said; wait wait
They are not doing any kind of refund
Same massage as always said; wait wait
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SPRING1947
Member
HI
TEXTURE HAS REFUNDED DEPOSIT TO FEW CUSTOMER BUT THEY WILL NOT ADMIT OTHERWISE THEY HAVE TO REFUND FOR EVERYBODY.
WHAT IS THEIR MESSAGE TO YOU
WAIT FOR REFUND OR WAIT FOR UNIT
CONSTRUCTION WORK IS STOPPED
THEY SHOULD REFUND EVERYBODY'S MONEY AS THEY HAVE REFUNDED TO FEW CUSTOMER.
TEXTURE HAS REFUNDED DEPOSIT TO FEW CUSTOMER BUT THEY WILL NOT ADMIT OTHERWISE THEY HAVE TO REFUND FOR EVERYBODY.
WHAT IS THEIR MESSAGE TO YOU
WAIT FOR REFUND OR WAIT FOR UNIT
CONSTRUCTION WORK IS STOPPED
THEY SHOULD REFUND EVERYBODY'S MONEY AS THEY HAVE REFUNDED TO FEW CUSTOMER.
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SPRING1947
Member
DO YOU BELIEVE IN THIS THIS IS STATEMENT FROM MARWAN BIN GHALITA BOSS OF RERA
Some developers in Dubai are giving 100 per cent construction guarantee, which is the "ultimate guarantee" that any developer can give, Real Estate Regulatory Agency Chief Executive Officer told Emirates 24|7.
“There are developers who have given 100 per cent construction guarantee and this is the ultimate guarantee,” said Marwan bin Ghalita without giving names of the developers.
He revealed that Dh29 billion are being held escrow accounts which reflects confidence of developers and investors’ in the market.
It is compulsory for every developer in Dubai to open an escrow account under Law No. (8) of 2007 concerning escrow accounts for real estate development. All the payment received from investors has to be deposited in it. Money is released by Rera after it assesses the project’s construction having met the required percentage.
Rera chief said they were no longer afraid of projects being stalled, as developers were launching projects to build them than mere selling them.
“Developers want to complete their projects with many of them wanting to start selling only after the project nears completion. This shows that the industry has matured over the time.”
Among the guarantees sought is 100 per cent of the land cost to be paid by the developer, a minimum of 20 per cent of the construction cost to be deposited with Rera with contractors having to pay another 10 per cent of the construction cost.
In the first quarter 2016, 38 new projects were launched in Dubai. In 2015, 46 projects were completed.
The Dubai Land Department has reported Dh55 billion worth of property transactions across all categories in the first quarter 2016.
Ghalita said investors had become very smart and were asking questions on materials used, sustainability, finishes and service charges, which was not previously the case.
We reported earlier that Rera chief wanted developers to cut down on service charges by allocating some portion of the built-up area in their projects to generate revenue.
“My advice to developer is to allocate some of the built-up area for revenue generation. Start with 50 per cent of the service charge going up to 70 per cent of the service charge to be covered from this asset and not from the investor. Hence, the investor will be paying only 30 per cent,” Ghalita had said on sidelines of the Dubai International Government Achievements Exhibition (DIGAE 2016).
Some developers in Dubai are giving 100 per cent construction guarantee, which is the "ultimate guarantee" that any developer can give, Real Estate Regulatory Agency Chief Executive Officer told Emirates 24|7.
“There are developers who have given 100 per cent construction guarantee and this is the ultimate guarantee,” said Marwan bin Ghalita without giving names of the developers.
He revealed that Dh29 billion are being held escrow accounts which reflects confidence of developers and investors’ in the market.
It is compulsory for every developer in Dubai to open an escrow account under Law No. (8) of 2007 concerning escrow accounts for real estate development. All the payment received from investors has to be deposited in it. Money is released by Rera after it assesses the project’s construction having met the required percentage.
Rera chief said they were no longer afraid of projects being stalled, as developers were launching projects to build them than mere selling them.
“Developers want to complete their projects with many of them wanting to start selling only after the project nears completion. This shows that the industry has matured over the time.”
Among the guarantees sought is 100 per cent of the land cost to be paid by the developer, a minimum of 20 per cent of the construction cost to be deposited with Rera with contractors having to pay another 10 per cent of the construction cost.
In the first quarter 2016, 38 new projects were launched in Dubai. In 2015, 46 projects were completed.
The Dubai Land Department has reported Dh55 billion worth of property transactions across all categories in the first quarter 2016.
Ghalita said investors had become very smart and were asking questions on materials used, sustainability, finishes and service charges, which was not previously the case.
We reported earlier that Rera chief wanted developers to cut down on service charges by allocating some portion of the built-up area in their projects to generate revenue.
“My advice to developer is to allocate some of the built-up area for revenue generation. Start with 50 per cent of the service charge going up to 70 per cent of the service charge to be covered from this asset and not from the investor. Hence, the investor will be paying only 30 per cent,” Ghalita had said on sidelines of the Dubai International Government Achievements Exhibition (DIGAE 2016).
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SPRING1947
Member
DO YOU BELIEVE IN THIS THIS IS STATEMENT FROM MARWAN BIN GHALITA BOSS OF RERA
LETS TRY TO CONTACT RERA BOSS MARWAN BIN GHALITA
WE CAN SEND HIM AT LEAST EMAILS
LETS TRY TO CONTACT RERA BOSS MARWAN BIN GHALITA
WE CAN SEND HIM AT LEAST EMAILS
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Dubai2020
New Member
I checked with Land department in Dubai, the last reported progress was only 10% so they put the project on hold now and gave the developer until beginning of 2017 to report progress. If there is actual progress the land department will give it the green light to continue if not then the project will be officially cancelled with court order to refund investors from the escrow account.
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Royal state investor
New Member
Those people lunched there project by media such as alkhaleej, emirate 24, the national and others with present of famous actor Shah Rukh Khan
Why we don't take our problem with this project to the media too ???
Why we don't take our problem with this project to the media too ???
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Royal state investor
New Member
You absolutely right
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realdeals
Active Member
Are the new real estate regulations helping investors in Dubai? There seems to be good movement from this group of disgruntled investors.
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Royal state investor
New Member
There are so many successful projects in Dubai ofcourse
But this one alot of questions about their construction delay
R
Royal state investor
New Member
Gen't any update with this project
R
Royal state investor
New Member
As per RERA project status now condistional active
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SPRING1947
Member
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SPRING1947
Member
LOOKS LIKE ONLY TWO PEOPLE ARE WORKING. ROYAL ESTATE DEVELOPER HIRE SOME MORE PEOPLE TWO PEOPLE WILL TAKE 100 YEARS TO BUILD THIS PROJECT
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nmb
Well-Known Member
Will the Dubai workforce wind-down for the festive period? On a positive note, at least there is still some activity and the development site is open.
