Dubai Real Estate Real Estate in Dubai

Dubai Real Estate News
UAE Property Market Trends and Reviews

Educating and Sharing Ideas with Buyers and Sellers in the Dynamic Dubai Properties and Real Estate Market.

Dubai Property Market
Dubai.. a great place to live! The Dubai Properties and Real Estate Blog is a resource center for property investors. You will find a wealth of information on topics including property selling, buying, rentals, real estate agents, Dubai housing market updates, mortgages / home loans, Dubayy freehold properties, relocating, Dubai real estate investing, trends, financial analyst, Middle East real estate news and professional reviews. Find property buy and sale information for all of UAE including Abu Dhabi, Sharjah, Ras Al Khaima, Ajman and Umm Al Quain.

Custom Search

Flats in Dubai International City delayed beyond schedule

Sunday, May 13, 2007


People who purchased flats at the Dubai International City are complaining about the delay in handing over their new homes by about a year.

While the buyers mentioned that they are already under considerable financial pressure due to this waiting, neither Tamweel, the home finance provider, nor Nakheel, the developer have actually mentioned when their apartments are likely to be ready.

A Nakheel official however mentioned that the delivery of the first phase of buildings at the Dubai International City that began during August 2006 was on schedule and is making good progress. He added that flexibility in schedule is essential during such large scale developments, as changes are sometimes incorporated to ensure high quality standards, which is done keeping in mind the interest of the owners.

An owner from Jordan, Naseer B, said that he had purchased two flats in the Moroccan section last year. At the time of purchase Tamweel officials had promised that the apartments would be ready by August 2006. In accordance with this, Naseer had written a tenancy agreement with his landlord during May 2006. However, from August’06 till this minute the handing over of the flats has been delayed, and Tamweel mentions that the delay is due to hold-up on Nakheel’s part.

Naseer adds that the status of work of the flats was more than eighty percent complete during August, and the situation is the same even now.

Another buyer mentioned that she had to take up a bank loan for paying the downpayment to Tamweel. She currently stays in a rented flat. So due to this delay she has been bearing the burden of bank loan plus the burden of rent for her current flat.

Labels: ,

Social Bookmarking
 Add to Del.icio.us Digg this article Add to 

Myweb.Yahoo!  Stumble it Add to Newsvine Add to 

Google bookmarks Add to Propeller
posted by Exclusive Dubai, 5/13/2007 10:44:00 PM

3 Comments:

My name is Stephen Dainty and I have purchased a studio in Persia and my agent just keeps saying they have no idea when i will get the keys, I was first promised in December 2006 I booked flights to Dubai for February and had to stay in a hotel its now the end of July 2007 and still no update as to when the apartment will be ready
commented by Blogger Stephen Dainty, 9:22 PM  
Hi Stephen,
really sad to know the situation. have you received the apartment now ?
Kirti
commented by Blogger Kirti, 2:39 PM  
No and I am really worried. My agent is Homes Dubai (Homes International) Manchester. Yhey tell me a different story every time. Currently i would advise that no one buys a property through them. I have a property company who sells in Bulgaria and I am not happy with Homes Dubai
commented by Anonymous Stephen Dainty, 4:17 PM  

Add a comment