International City - Park Views, Phase III

[defosco]

Hi there,
Just over a year ago we put down a deposit for a Studio flat in Park Views. Has anyone else bought a property in this area? It was meant to be completed by September this year (2007) but with obvious delays I don't think it's even been started. We don't get much news from the people managing the sale and we always have to contact them to get any updates. We're starting to get worried now and I was trying to find some reassurance....

Debbie

[wahid121]

Hello defosco,
I bought from Besthomes, but the master developers are Nakheel, I have been told they are not releasing the land for construction work to begin. Although I have not been able to get Nakheel to confirm whether this is the case.
Regards, to your purchase, who did u but it off, and who are the developers, also what area is Park Views?

[defosco]

we bought it through Investors Provident but gdpinvestments have now taken over. The Property Platform were also involved at one point. to be honest i'm not sure who did what, it's hard to keep track of it all! I just got an e-mail today from GDPinvestments stating: "The PSA’s are in final draft format and Nakheel the master developer have confirmed that these will be issued in conjunction with the final permit and the commencement of full construction once the developer status has been agreed with the lands dept, which is currently in hand."

i'm not exactly sure of which part park view will be though. i'm quite happy to wait as the prices are increasing steadily and we've probably already made at least our 30% deposit back. we don't need to pay any more until completion so for a very small initial investment it'll be worth more once finished (hopefully!)

let us know if you hear anything!

[g4set]

Hi
I also bought a 1 bed apartment in 'Park Lane' development - Acording to press release it is due for completiom late 2008 or 2009. Lets hope this is so because originally it was due jan 2008
If I hear any more I will let you know
There is also a forum on eye on the world property

[muqarabin]

I bought a 1 bed apartment in Cambridge Residence and I am told completion is Dec2008....... Anybody have any picture of International City Phase III...is it close to the current International City. I hear it is next to the Dubai Silicon Oasis...that should make it a fantastic investment with potential of huge capital growth.

[g4set]

Who told you they would be finished Dec 08 - last I heard they hadn't even got final ok to start building? Dec 07 was last update I have some picture of the desert where they are supposed to be putting in the infastructure. Problems with services drains power etc. So many buildings going up infastructure not in place.

[muqarabin]

g4set

I believe Cambridge Residence is being built by GPD Investments (UK) Ltd. I still spoke to them this morning and they said they still expect to complete cambridge residence in Dec08, they said the building work is just set to start on Cambridge. Now they are either on target to meet the Dec08 schedule for cambridge residence or they are just taking the p!55. but that is the information I have.

They said to me this morning that they have six developements on Phase III

The other 5 are Eton, Mayfair, Oxford, Kensington & Park Lane in the England Part of IC Phase III.

They are starting with Cambridge and expect to finish it in Dec08. Now may be they just told me that because I bought my 1 bed in Cambridge.

[viswanath]

Hi all,

I gather 'Park lanedevelopment is scheduled to commence in the middle of 2009....

[muqarabin]

Originally Posted by viswanath

Hi all,

I gather 'Park lanedevelopment is scheduled to commence in the middle of 2009....

It wouldnt surprise me as I have given up hope of Cambridge residence being completed for Dec2008. Dreamshome ww went to dubai last month and they sent me pictures of their trip and all that was evident is vast lands being prepared for construction...they have not even dug foundations yet so I wont lose sleep over completion and time soon

[defosco]

I've just sent another e-mail to GDP to get an update. i'm a bit worried as i've not seen many people mentioning "Park Views"! Do any of you know about PV and what stage of construction they're at?

Our deposit was paid in September 2006 and 1 1/2 years on we have to contact them for an update! We're really getting worried now!

The update we got in december 07 was the same as yours g4set.