Dear Bloggers,
This blog is dedicated to the issues relating to the THE ROYAL ESTATES Project - in Dubai Investment Park - both the commercial projects (the REGENT Business Park) and the residential community development. THIS NOT IN ANY WAY CONNECTED OFFICIALLY with Aristocrat Investments or other parties involved in the completion of project. This is only a platform to put investor's thoughts and issues and to share it with other investors.
As an investor myself in this project like hundreds of other people like you - I felt the need for a platform to express our opinion and let know others what is in our minds thinking on the current state of THE ROYAL ESTATES project in specific and Dubai Realty market in general.
This blog could serve as a source of information to make decisions that are in the best interest of the investors - and learn from each other's experiences - and possibly channels the thought processes together to one stream.
Have your say - and lets get BLOGGING.
And once again - thanks all for visiting this BLOG.
Wednesday, January 7, 2009
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As per my info. no serious construction has started at the site...
ReplyDeleteThe developer is brazenly trying to make his own good in the name of the current economic/cash crunch...
Where as per original plan he was supposed to get 30% before property handover is now trying to rake in about 44% at the expense of cash strapped investor/end-user, and with not an inch of progress at the site yet...
"This plan, introduced to alleviate customer woes during the current economic situation,..." as claimed by the developer does not alleviate the woes of the customer but adds to it...and to the advantage of the developer...
Yes..the revised payment plan would really serve the purpose if (a) upcoming 15% installment (2nd installment that would complete the 30% payment before handover) is divided into 30 monthly installments and (b) balance 70% payment upon handover is then divided into 60 monthly installments post handover.
can someone pass on a phone number so i can contact a member of the group that met with Aristocrat on March 7th. I have several units and am aware of another investor who has as many as 7 or 8
ReplyDeleteI have visit to mid january 09 to Aristocrat office. we disscus with director to reduce pcire as well payments terms. On site nothing was happing. we wish all invester must take one stand. we are waried about our investment.we must all take action to find solution.
ReplyDeleteAristocrat Star Investments seems to be a fly-by-night operation. Nothing they have ever told us seems to be true.I dont think they can be trusted with any future commiments. The real estate market being what it is now I think it is only wise to cut our losses. We need to petition the Dubai Property Courts collectively as a group of investors to get our money back!!!Also if anyone has any connections in the media try and publicize this issue. Nothing works like public pressure.
ReplyDeleteOther developpers droped their prices by 30% thanks to the drop in construction costs... and off course because of the current situation.
ReplyDeleteI am not sure why Royale Estates don't follow this strategy. They will certainly not loose money and, at the same time, keep most of us.
Unfortunatly I have 17 unites. I believe with the financial crises situation I can't see any future for this project to be done completly.
ReplyDeleteWhat Im trying to say is even if this project finishes the rerst of the projects around it will not be completed due to the crisis. You cant have the Royal Estate with out the rest of Regent Business Park. I suggest we pull out while we'r ahead so we dont lose more money on a project that wont be successful.
Within the last 14 months we seen no signs of any procedures that might show us solidity of the completion of this project. We have put in alot of money and effeort into this project and we have made no where near as much progress as we should have seen. I suggest we all gather for a meeting to discuss this problem.
Unfortunately, I dont see any development happening on this project as the market is now uncertain and unpredictable.
ReplyDeleteAccording to the current media reports and buzz in the Industry, no projects are going on floor at the moments, all constructions are on hold until financial crises are over which is again uncertain and unpredictable.
I suggest we must have a meeting to resolve this issue. I think refund is the only best solution for the investors, as no prospects
I am with you fellow investors, we have all put large amounts of moeny, & ARISTOCRAT have not kept their word in any progress, & to add insult to injury, more & more lies! If all of us investors pay this next 15% installment , we would be risking EVEN MORE MONEY! We should meet altogether & make some noise, & immediately try to stop further shit from coming our way!
ReplyDeleteCome one guys, lets all pull one rope & stop these greedy Lying developers from palying with our money!
It seems most of us agree to get our mony back than lets us do it and meet ASAP ,We are runing out of time .
ReplyDeleteWe should meet and make collective decision on this rather of writting comments on the blog as rightly said we are running out of time. But kudos to you, it's a good move.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteDear Investors I agree that we should meet soon before the construction starts and it is late to claim our Refunds. As per the Refund policy printed in the Property Magazine of last week, any agreement signed before Aug 31st 2008, developer contract conditions apply.
ReplyDeleteWe should submit a joint Petition to Royal Estate for cancelling this project and refunding the money
Is there a way to meet with most of you who may be available in Dubai on coming Friday. Lets fix the time
We are holding 2 full floors in Royal Estates and have no intention of making the coming 15% payment.
ReplyDeleteWe are ready to meet any time during weekdays (Not fridays and Sat).
Please try to organize the meeting so that we can attend.
I am ready at any time ,even in the moon,please let us fix the date ,time and location.
ReplyDeletemove on guys,our money on the air .
Who is available tomorrow at 12:00 Mall of the emirates?
ReplyDeleteStarbucks-Borders?
I will be there
ReplyDeleteHi all did anyone go to the short noticed meeting @ MOE?
ReplyDeleteCheck this out guys;
http://www.skyscrapercity.com/showthread.php?p=33612384
is this THREAD hijacked by any chance? why are our posts not being uploaded?
ReplyDeleteHello to everyone,
ReplyDeleteI just found and visited the site!
I am the owner of an office in Dubai Investment Park.
Few days ago i received a new payment plan but yet there has been no progress of the project!
I do not agree with this plan.
Is there anyone else who received it and what we can finaly do with the situation?
Thank you
What's the latest on this project? Are people getting their money back?
ReplyDeleteYou also need to seek advice from the real estate agents to be sure of the process. They are equipped with knowledge and expertise hence they are sure to be of help to you.
ReplyDelete