In my contract, the compensation only begins if the project is delayed OVER a year. What does it state on your contract, 6 months? I bought in Feb 2007, and the date of completion shows dec 31 2008, so only, if they go past december 2009, will I get my first payment in January 2010. I tried to argue with them about making it 6 months delay, not 1 year, but they would not budge. As with most things in Dubai real estate, we don't have much to stand on. I could either sign the contract or not sign it and potentially lose out on the deposit I had put down prior to signing the contract.

Kev, you are supposed to get a contract before the 2n installment. How come you have paid 40% and not yet received a contract from IMG, regardless of whom you bought the apartment through?

I actually dont think I have paid the 2nd installment. It's in the hands of my agent who is exceptionally good and a professional. Off out there next week to settle things. I have not bought ftom IMG but from GIO who are a separate group run by Rashid Galadari (son). I have no concerns about the company perse, but am just hacked off with the delay. If I'd any idea of this I would not have bothered.

any updates?

I'm wondering if the 12 month delay applies to the City of Arabia?

I am n the same position - paid 12k deposit against 2 offices in Metro and have refused to sign contract as they mis sold. In the exhibition where I bought, one of the representatives said there wuold be penalties for any delay to dec 2008. If they do not change the contract then I will pull out and seek my deposit back legally.

The fact is that dec 2009 will be useless as a mid term investment. Office rates will have dropped to normall and may even be lower due to over supply by then. The real opportunity to secure a tenant at high rates are next year.

Anyone got a different view ?

In the contract they can be one year late without penalty "the long stop date" - this was not mentioned in the sales pitch before we handed over deposits so that is my angle. It fundamentally changes the investment profuile as the buyer is taking all the risk.

I bought arabian crown a year ago. They said it would be completed on end of 2007. Now there must be almost 2 years delay. Do I have a right to ask them to give any kind of compensation? I already paid 40% of whole amount.

Hi Chiquita,

Both Arabian Crown and Windsor Apartments, wgere I have bought are being developed by MED (Middle East Developments) and I believe very similiar contracts. Mine states that if any delay is caused by the MASTER developer, which in this case is Galadari's, they (MED) are NOT liable for any compensation and guess what.......all the delays to date have been attributed to the master developer, so I would believe no compensation is due, but you can always check with MED.

I would also be interested to hear from anyone else that has bought in the Windsor Apartments, to exchange general views, regarding delays and the investment in general.

Regards

Stuart

Just wondering, what are some of the differences between Arabian Crowne and Windsor? Just because I hear more about Windsor than Arabian Crowne.