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Damac set to award contracts worth Dh2bn
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 8 of 8
Posted on Wednesday, 4 November 2009
Lakeside project of Damac
Posted by Ratan Srivastava at 09:09 UAE time
Please refer to my earlier complain regarding my investment with Damac at their lakeside Project at IMPZ. I could see that the CEO of Damac has given statements about further Damac investments, but has no single work or clarifications about their Lakeside project. It is very dissapointing to note there is no one in Damac office to respond to your call or listen to our quiries. RERA/Loval governmenet authorities must intervain and help to get the refund back to the investors as the project has been delayed as of now to the year 2013, where it was suppose to be delivered by end of 2010. I expect RERA/Local goverment authorites will swiftly take some actions to retain the confidence of invetors into this country.
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Posted on Sunday, 10 May 2009
Feedback
Posted by Ratan Srivastava at 11:08 UAE time
I have invested in Lakeside, IMPZ and after one and half year, still the construction has not started at this site. I have been calling and emailing to Damac, Dubai, but no one is able to answer and let me know about the development of this project. They have posted some construction related picutre on their website, but these are the same pictures which they had posted 1 year back and there is no further progress on construction. I have been requesting for refund, but in vain. I hope RERA will lookinto the matter and help me to get the refund or get my flat in time.
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Posted on Friday, 8 May 2009
DAMAC needs to refund investors on Commercial Square
Posted by Geoff Dickinson at 13:21 UAE time
I invested in HAZ Tower a DAMAC property in Business Bay, Dubai in June 2007. In September 2007 they finally said they would issue the contract and promised completion of the project by early 2009. They finally issued the contract in September 2008 and insisted I could not take the contract away and made me sign it at their offices and only gave me back a signed copy many weeks latter. I paid 100% on this project two years back, but, in September 2008 they changed the office sizes and increased the price and I was then advised I had paid 40%. To date after 2 years the site has a fence and a portacabin and no work is going on. I have repeatedly asked for my money to be refunded and they refuse. My lawyers have written 4 hand delivered letters to DAMAC over the past 5 weeks and they refuse to reply to any of them.
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Posted on Thursday, 7 May 2009
what contracts??
Posted by anu at 14:46 UAE time
complete hogwash...dont beilive a word of it..typical damac deception by misrepresenting facts that are not true similar to thier projects.
In fact they have an entire team working on slashing contractors rates agreed upon
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DAMAC new contracts?????
Posted by patrick at 09:47 UAE time
WOW, out of all the developers in the UAE, how come DAMAC is awarding new contracts, something doesn't add up, all the big developers such as Emaar, DP, Nakheel etc. are canceling projects and only DAMAC is signing new contracts, well that is pure non sense to me. DAMAC, you've got to try harder, I don't buy your news, MR. CEO, honesty is a virtue.
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Posted on Tuesday, 5 May 2009
DAMAC
Posted by ross at 18:25 UAE time
Perhaps they should also pay there staff.
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Damac should start paying its vendor
Posted by Vendor at 12:57 UAE time
Damac is supposed to pay us AED 15,000 which is been due for 6 months. We wish Damac all the best and please pay your vendors when you award contracts.
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Posted on Monday, 4 May 2009
Smell that Coffee
Posted by Govindh Pani at 01:05 UAE time
Well, well, well. In amongst all the doom and gloom Damac's booming. I think not. The story about AED 2 billion worth of contracts may well be true. However, the important bit that Damac fail to say is that these contracts are 'not' new contracts but instead simply contracts that they've 'already' previously awarded. They are contracts that Damac has previously terminated and is no simply agreeing again albeit at a lower price.
The story is just more 'spin' from Damac to pretend that, when all around are suffering, that somehow Damac is booming. It doesn't make sense at all and the simple reason is that it's not really true.
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