Skycourts Tower ‘D’ is next with civil work reaching canopy level and glass framing work in progress on floor2
Skycourts Tower B, E & F have canopy structure in progress
Skycourts Tower ‘C’ has reached 20th floor
In picutures >> see presentation >>
Friday, August 21, 2009
Skycourts update - 8th August 2009
Skycourts Tower ‘A’ is progressing at the fastest speed, has reached canopy level & the glass framing is in progress on floor 17.
Skycourts Tower ‘D’ is next with civil work reaching canopy level and glass framing work in progress on floor2
Skycourts Tower B, E & F have canopy structure in progress
Skycourts Tower ‘C’ has reached 20th floor
Skycourts Tower ‘D’ is next with civil work reaching canopy level and glass framing work in progress on floor2
Skycourts Tower B, E & F have canopy structure in progress
Skycourts Tower ‘C’ has reached 20th floor
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22 comments:
Joyce
Any idea about ossession date?
jycrvl@yahoo.com
Thanks a lot for putting up the latest pics.
It does seem that the construction is speeding up.
However, looking forward to its handover early next year.
Keep up the good work
Thanks
quite intersting site indeed..
Hi, I would like to be in touch with other Skycourt unit holders, who are financed by Dubai Bank.
Lately, my concern is that the market interest rates have declined below 6%, while the bank is still charging above 8.5%.
We would like to raise the issue formally with the concerned authorities.
Regards,
Sarmad -0097150-3193756
sarmadshoaib@yahoo.com
I strongly support Sarmad, decline in interest rates coupled with huge fall in construction costs (30% apx.)should be considered and many developers including Deyaar have adjusted the prices accordingly. This is more important for the people who booked their apartments with Amlak, the prices have fallen sharply since then.
Kamal
kamal360@gmail.com
Hi Sarmad,
I have also taken a loan from Dubai bank. Not only that the interest rates have not reduced even though we are at floating rates. Also the bank's interest during construction for the delay will be recovered by us.
Vijay
chandnanishalini@yahoo.co.in
Vijay has a point here, why should we pay for the delay by developer or contractor. The original promised possession date was June 2009,any interest costs due to delay there after should be borne by developer or contractor. And they have margins in terms of huge reduction in construction costs.
Kamal
kamal360@gmail.com
Dear Kamal & Vijay,
Our prime concern it the project delay, i.e. from Jun 09 to Sept, 10, abt 15 months. The interest cost during this delay is a total waste, which amounts to several thousand dirhams.
I request those who have finances from Dubai Bank to take up the matter personally and repeatedly, that these interest cost due to delay is not at the fault of the end users.
I had taken up the matter to Dubai Bank, who had intimated that neotiations are underway to waive such costs, as these are sunk cost and a total waste to the borrowers, who are mostly on the verge of default.
Therefore, I suggest you all to formally take up the matter with Dubai Bank, that we shall not be liable for the interest duri ng delayed construction of more than 15 months. Secondly, the interest rate matter should also be taken up that they are not justified charging above 8.5%, instead of the going market rate of 6%.
Remember, in these matters synergy may be fruitful, as the Bank will have the habit of giving standard responses of helplessness.
Please contact others who are facing similar situation and keep us posted on the issue.
Best of Luck,
Sarmad
00971-503193756
sarmadshoaib@yahoo.com
Dear Sarmad,
I totally agree with you. I have also taken up the matter with Dubai Bank on similar lines. Just to give a brief re-cap for everyone.. I would like to mention the key points to be taken up with Dubai Bank:
1. Interest Cost for the additional 15 months i.e. from June '09 to Sept. '10. (To be Waived).
2. Reduction in Interest Rate from 8.5% to 6.0%.
3. Reduction in original price of units by atleast 25.0% in view of reduced input costs. Deyaar has been doing this for other projects.
Regards,
Yasir
ysyedrizvi@hotmail.com
Hi all,
Am about to contact AMLAK with the same issues. Interested to know if anyone else is dealing with AMLAK and if they have had any response?
Thanks
hi everyone, i am with you on the issues mentioned here. if we need to approach jointly i am up to the task.
i have a one bedroom large apartment, and now i need a two bedroom apt, in case someone is looking to exchange i can be contacted at anil@harmanme.com
Nalini, Anil- Im mailing anyone whose financed by Amlak- please drop me your email @ skycourts@gmail.com
Hi Ace,Anil, Nalini
I too am financed thru Amlak for Skycourts. Maybe we can get Landmark properties to give us leads of other investors. My email is wajidakbar@yahoo.com
Thanks
Wajid
To answer Joyce's question, in the NATIONAL BOND MAGAZINE, August 2009 edition-page 11, they mention a 1st semester Hand over date, I quote:"The Sky Courts development is scheduled
for delivery in the first half of 2010 and offers over 2,800 apartments across six towers"
About the request to drop the price 25% to Deyaar, good luck with that. They are merely appointed by National bond, who remain the sole owner of the site.
The selling price of the appartment are still competitive in the actual Market and I would'nt worry about this project/investment
Hi Dubai Bank Loan holders for skycourts!
I do agree that we must take up this matter jointly.
Keep me informed for any progress in this matter.
However I did visit the site in mid september. The quality and progress is not bad.
Does anyone know what is coming on the ground floor? Are these commercial units? No idea for handover dates too.
Regards
latagodwani@gmail.com
hi all,
i would like to know if anybody intersted to buy 2 bed rooms in tower d 7th floor, 1291 Sqf.
email: raed_alwadi@hotmail.com
So, Ladies and Gentlemen, Is there any FIRM delivery date for the towers.
The letter that Deyaar sent out recently only uses "Vague" dates such as "Quarters". I don't like that!
Anyone here interested in demanding some sort of compensation. I'm not talking about reduced interest or an interest free period for the delay. I'm interested in geeting paid back the rent I'm having to pay for the time being, while waiting more than 15 Months for my appt.
Please put your name/ email ids to be responded.
Kamal
kamal_db@hotmail.com
Hi,
I too financed thru Dubai Bank, which I find the worst bank when it comes to communication, I requested to start paying the installment in July so not to have pay for more interest because of the delay, not sure if it was a good move, but thought so when they tried to convince me that there is no different of paying now o later which doesn't make sense to me, they even didn't respond any of my calls for about 4 days when I tried to start paying the installments in June so they wait for the due date on July and take the interest for that too, which was around 4800 I think, I consider that cheating especially when I took the initiatives to do so by myself not them.
Sorry for making this long, and I agree with you guys about reducing the interest rate to 6%.
Thanks & regards,
Mohamad Alhashemi
s218665@yahoo.com
Dear Mohamad,
We all are through this, and fully support you. Dubai Bank is on Facebook, for the higher authorities to know your concerns you can post your comment on:
http://www.facebook.com/pages/Dubai/Dubai-Bank/50539011941
Joyce
jycrvl@yahoo.com
Hi Guys
Been on the site for past few weeks and find it better than any other.
I have myself takena mortgage with Dubai Bank. I have read all the suggestions made and see that we are only talking and not taking a step.
Let's do the following
1.Assemble all name and contact details at one point
2. Agree on a common date to meet and draw up the agenda
3. Take these points to Dubai Bank
My e-mail Id is ateetp@hotmail.com. I would request all of you to drop in a test mail with your contact details so we can be ready with the final list and proceed further.
Let's do this together.
Ateet Purohit
e-mail: ateetp@hotmail.com
Hi everyone,
I too have taken mortgage from Dubai bank for my property in Skycourts.
Few things I like to share:
1) Spoke to Dubai Bank on the interest/profit rate being charged on to customers!
Reply: Dubai Bank are in talks with the developer for charging till December, and from Jan onwards it should be borne by the developer.
2) Interest rate to be reduced to 6%.
Reply : Compared to other banks we are still competitive and no reson for Dubai Bank to reduce rates.
3) Handover dates for Skycourts.
Reply: In phases, First, Tower A & D,
Second, Tower B & E,
Finally Tower C & F.
4) When does handover take place?
Reply: Probably from March onwards in phases.
Thanks.
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