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As you know, a new developer (IAH) has taken over the project from the original one (KM Properties). Now they are sending out NEW contracts to investors where they change areas, payment plans, etc, adding new clauses, etc.... It is important that we as a group review the changes and negotiate what is best to our interests. Please join the discussion and see how we can accomplish this!
My original office area was 575 sqf which they increased to 717, but news developers are saying that the net area is like 334 which is less than half of total gross. They are saying that KM Properties cheated us by increasing the common area, but the new developers are carrying on next day payday loans with the cheat!!.
I think they should revert it back to 575 which was the original area.
I only know one other investor, otherwise if we knew a few, we could employ a lawyer to act on our behalf and advise us as to sign the new contract or not. If you know one, and I know another one, we are already 4 investors with the same concerns: changes in the area, new additional terms like the right to increase the price (! This is just to let you know that I have registered with the property forum and I saw your messages on Tamani Arts Bldg. Thanks - Mohammad I have written to them asking why they want to charge us so much more area when they know that KM cheated us by increasing the common area e. Thank you for sharing your experience on Tamani Arts. My experience add to home loan for repair is called traction with them is so bad since the time of the old developer, KM Properties.
They were not just cheating on floor areas they were in fact stealing money. There is a major discrepancy of over half a million AED between the amount of money I paid and the amount received and shown under the escrow account of the project. I told KM Properties from 2008 that I will not make any further payment and I will not sign any contract until this issue is resolved.
However, since then no action was taken from their side.
Now, IAH have inherited this problem and I am not sure how they are going to deal with it. If you know one, and I know another one, we are already 4 investors with the same concerns: changes in the area, new additional terms like the right to increase the price (!
The developer is a company called The Developer Properties LLC , as it shows in the new PSA contract you must have received. They have crated this company to conclude stalled projects and ensure completion (interesting enough, they have only engaged in the 2-3 projects that KM properties did not conclude.. I have one unit and received the new contract that I will never sign.
Size cut has no formula since each investor got different size cut using the excuse of common area. Interestingly enough discount is also given with different figures to each unit, just randomly I guess. I have no intention to sign whatsoever and will seek a group to join for legal claim against original developer since new developer has no credible status even in RERA. It seems there are about 160 unfinished developements and IAH has been given these next day payday loans 3 and if they do a good job, then more will be given to them. It seems there are about 160 unfinished developements and IAH has been given these 3 and if they do a good job, then more will be given to them. I think you are referring to the ratio gross to net area, right?
You next day payday loans should hire an agent but before hiring him make sure that person is trustworthy and has a very good reputation in the market. The problem today is that if you are looking at commercial premises, for example a shop, the Internet has made such an impact on online buying that the value of shops will have fallen in many parts of the world.
There will obviously be the option to redevelop into flats, etc but this is not always as straightforward as you might think and there are obvious costs. Higher returns and cash flow is arguably the biggest benefit of a commercial real estate investment over a residential one.
Residential loans are typically paid off over 30 years while commercial loans are typically paid off over five to 20 years. My approach would be to create a backbone of solid rental income - even if the potential capital growth was limited - which would allow you to pay off the mortgage much quicker.
Then maybe use excess funds going forward to take a calculated risk on property where the focus is more on capital gains than rental income.
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There is nowhere near enough private rental accommodation in the UK which has pushed rental yields higher. Many on us on this forum would be very interested to hear from folks who invested in properties in Dubai between 2005-2007, and since have taken delivery. For obvious reasons, you would need to provide the name of the development (discourages estate agents and developers from posting fictitious numbers): If Dubai property market is buoyant and healthy, as many might like us to believe, the response to this thread would be the proof. Property investments is all about profits, and if there is no profit in Dubai properties, it should be made public, in the interest of consumer protection.
We check into cash loans are not talking about cheap defective made-in-china baby products , instead, it is about investments costing millions - this is serious money, with serious consequences for investors. The introduction of new regulations, investor protection and improvements in the financial system have created a very different environment today. We are coming nearer to making a decision to take legal action. Hi, I just stumbled upon this thread and am thankful that I googled for Tamani Arts Offices this a. They emailed me the new SPA some 2 months back - all calculations and owner identity mistakes in their initial email (I guess they might give my unit to someone also in that case! Because of all the calculation mistakes in the Agreement, we have not yet signed the new SPA.
My husband wanted to check what is currently going on at their construction site and then sit with them to talk.
We have been Dubai residents for more than a decade.
Could we telephonically discuss or meet up with some of you who are also in Dubai and have bought in this TAO Project?