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Fighting back
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 3 May 2009
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Results 1 to 11 of 11
Posted on Monday, 27 July 2009
Damac Parkside Project at DTJA
Posted by Hisham Elrufaie at 14:16 UAE time
Is this project going to start soon or is it cancelled?
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Posted on Friday, 22 May 2009
told you so
Posted by paul at 15:27 UAE time
I went to a DAMAC product launch a couple of years ago (for the buffet, which I have to say was ok but not great). The chairman spent the first 15 minutes of the event giving a speech dedicated to explaining why Dubai property was cheap and good value by international standards and why Dubai would absolutely and definitely NOT CRASH.
I think this sums up Dubai's problem - there was no humility to acknowledge a great deal of luck for the windfall, and no appreciation that there was a huge speculative bubble element in the market that simply could not be sustained. Instead the property companies convinced themselves that it could all last forever, and poured money into bigger and more absurd white elephant projects.
They say that pride comes before a fall. Look back to 2007 and 2008 and there was a lot more that pride on display. It was bordering on pure arrogance.
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Posted on Thursday, 7 May 2009
Damac Plse Add TANMIYAT
Posted by Mohamed Djirdeh at 23:30 UAE time
Thanks Mr. G. Dickinson, same with me with Tanmiyat Group. I bought a THREE B/R apartment on Dec 06, completion Dec 08. Paid 20%. No construction has been done, only a fence was put up few months ago. Feb 09 received first ever communication, letter of waiver of payment till end of April. On 02 March 09, second letter claiming FORCE MAJEURE. Can you believe 3 months after completion!!! Visited RERA no registration of contract!!! Now last resort the courts which want AED 30,000 as fees and a similar amount for lawyers!!! I suggest let us start a DEFENSE FUND? I suggest DUBAI CARES/GOVERNMENT should set up a defense fund.
Where else can we go MR. SAJWANI????? THE MEDIA. Yes THE MEDIA
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Damac
Posted by Geoff Dickinson at 16:31 UAE time
I am a DAMAC customer and it has been a personal disaster for me. I bought in to HAZ Tower in June 2007 nearly 2 years ago. For the first year the property was on hold due to a dispute with Helal Al Zarooni. They finally issued contracts for the development renamed as Commercial Square in September 2008. Since then a fence and a portcabin has gone up. Nearly 2 years on I have paid 40% the project is not listed anywhere, I can not sell it. DAMAC refuse to give my money back. I have instructed lawyers who over a 5 week period have written 4 hand delivered letters to DAMAC and they have not replied to any of them. I understand delays, I understand the crisis. But developers can not take peoples money, keep it for 2 years, do nothing, refuse to give it back and refuse to reply.
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Posted on Wednesday, 6 May 2009
Damac & The Media
Posted by Mohamed Djirdeh at 20:45 UAE time
Mr. Sajwani has every right to ask the media to be very objective, but the only, and last resort property buyers have is THE MEDIA. Is he trying to deny us even that!? The Media should report on any item even if it is one complaint of an individual buyer. I think developers like Damac have done a bad hand to investors and thus to Dubai. It will take a long time for Dubai to get back investors trust, simply because not that investors lost money, but total lack of accountability of developers. Even RERA property court is overwhelmed and poorly responsive.
Mr. Sajwani where else do we go, except THE MEDIA.
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Posted on Tuesday, 5 May 2009
You are right man but you know....
Posted by Very serious at 18:36 UAE time
This article is nice in a way that it brings up the confrontation of businesses and media in such a time!
It was a time that Dubai was building on media hype and Developers were making stories and media were selling them. When the market collapses like this the developers go back to reality and media try to see more reality side of the market by focusing more now on the fact.
I agree with Mr.Sajwani that media is trying to get attention by publishing any kind of news regardless of the credit of the news and if it’s fair or unfair! They publish any kind of number irrespective of the course of the data.
However I would like to remind Mr.Sajwani to also get back to reality in term of the numbers that Damac is announcing. Are they also fair? Are they credible? Can you announce a project delivery on 2009 and delay it for two years and bully investors for breaching contract?!!!
Here we go about Damac: Is Damac Having 7000 plus staff? Are they counting all the contractors’ staff as well?! Can they prove that they are really delivering on their promise again which is around??
The Media should be realistic but also developers like Damac should be held responsible for their claims.
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dubai shall be back
Posted by vijay at 14:53 UAE time
people who are shouting at Dubai/Damac does not know the reality in US and europe. The real REAL ESTATE disaster was created by US. Yes Dubai stretched itself a bit more, but then this does not means end of DUBAI. There will be some pain for few months, but then life will be back again. You can wish away a city like DUBAI. The learning from this ressession/correction, will lay the foundation of great leap and in next 5 years Dubai will be top destination for entertainment, sports and liesure.
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Fighting Back
Posted by macca at 13:56 UAE time
Damac is a perfect example of how Arabs can prove the stereotype wrong. Honest, promise keeping and very straight dealing, a great example of leadership, and a company that employs many locals at all levels, a great example of the way to go.
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Posted on Sunday, 3 May 2009
Customers
Posted by Gordon at 12:58 UAE time
I am sure Mr.Sajwani never read these comments but he should know that his Customer Service is simply catastrophal and arrogant, they ignore to answer emails, even addressed to CEO,s! Not a big surprise that his practices are investigated by Land Department and RERA, and the majority of his foreign customers says they want never more invest with Damac.
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So You're saying, Recession was never there..??
Posted by Kaptain at 12:29 UAE time
Prospects are bright..
Consolidated year / quarter..
In negotiation with the customers..
Investors are safe..
Decision making is quick..
Stakes are high..
Future is bright..
This is the summary of 3 pages..in reality just think of the opposite of the all of the above..
This person either doesn't read newspapers or takes pleasure in firing people..
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crazy damac promotions!
Posted by FB at 04:39 UAE time
this guy was treating marketing real estate like a joke.......
free plane, free island, free car, raffle draws
it makes a mockery of real estate business and for the region!
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