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Old 04-02-2008, 06:29 PM
Pint of Guinness Pint of Guinness is offline
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Join Date: Oct 2007
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Quote:
Originally Posted by daflanger View Post
Hi all.

I am also an investor in Eden Gardens. Today I called the developers and I have to say they were very professional in the way they explained to me the whole situation. I have invested in many places and none were able to explain things the way these guys did. They were nice and helpful.

But there is bad news and that is the completion date has been pushed back to mid 2010. They are really having a hard time with Dubai Municipality cause before DSC become a freehold, it was under DSC management and then all the guidlines changed after DSC became a freehold and hence the major delays. The plot itself was not handed over to the developer until May 2007 and the approval has not been given due to the many changes introduced by DM.

Now they finally have submitted the final changes for DM and should receive the approval early Feb. They sent me the new drawing, it is the same except for the base, I think they added some floors for parking.

But the developer is ready to amend all payment plans and they are very helpful. Call them they will explain everything to you.

FYI the developer has 2 buildings in international City, and one is being handed over next month

I am not happy with the delay but I have to say I had a smile on my face cause the developer took their time to explain everything bit by bit to me with a full timeline of what happened... some honesty for a change....

First time I ever feel happy I invested in a project in Dubai!!!

Cheers
Daf
Hi Daflanger,

Thanks for the feedback. What sort of extension did they give you to your payment plan? Do you know who the best person is to speak to you at Lokhandwalas? Will any of these changes affect us as investors (other than having to put up with the delay) and do you know the names of their 2 projects in International city? Finally, do you still think it is a safe investment?

Thanks....
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