By Edward Attwood
Developer receives state support from Dubai government to resume work on delayed residential project
Nakheel, the troubled real estate developer, on Thursday confirmed it will recommence on the Jumeirah Golf Estates project in Dubai after receiving state support from the Dubai government.
“Nakheel, Dubai’s master developer, announced today that Jumeirah Golf Estates has received the necessary support from the Government of Dubai to recommence development of the project,” said a Nakheel spokesperson in a company statement.
Ascon - Associated Construction & Investments Company - one of the main contractors for the project, is expected to remobilise infrastructure works on site shortly.
The Jumeirah Golf Estates project was originally planned by Dubai World subsidiary Leisurecorp.
It plays host to the Race to Dubai tournament, which is the season-ending championship on the European Tour.
Construction on two of the projects four courses were suspended in 2009 due to difficulties over contractor payments, and Leisurecorp’s activities were merged with those of Nakheel in June last year.
In October, Nakheel CEO Chris O’Donnell told Arabian Business that construction work that work was to be “remobilised” at several short-term residential projects, including Al Furjan, Jumeirah Village, Jumeirah Park, Jumeirah Heights Clusters, Veneto, Badhrah, Jumeirah Islands Mansions and International City, by the end of the month.
Does this include the entire original concept, including Whispering Pines?
Hope they finally start communicating - it is really a sad state of affairs and that too a company owned by the Government. Imagine what private builders must be doing - at the end of the day it is a black mark against the kingdom and investors will never forget that.
Does this mean that all services and facilities for Jumeirah Village will be completed in full, including the major road networks planned to run into Jumeirah Circle from the Springs and Lakes areas, as well as the mono-rail and shopping facilities previously talked about?
Excellent question!! I'm tired of financing Nakheel. What about Whispering Pines? Nakheel should use some of the AED 27.5 mil they donated to the PRO Golfers for the Golf Championships in November.
Interesting timing with the Race to Dubai being held there in 2 weeks time and the world's cameras on the area......will be interested to see if work continues after the tournament has finished
We have been asking Nakheel for our money back for over 2 years they have not started our apartment yet it is on hold indefinately and we paid all of our money on time but they did not honour their commitment to build our retirment home. So instead of us being retired we now have to work to keep going as Nakheel has all of our savings So much for their constance response the management has not released your money yet will let you no when they do that has been the answer for over 2 years
Isn't funny whenever you try to contact managment in regards to updates of Whispering pines you do not get comments, you are not allowed to visit site, you getting nothing in writing!!! tell me, where!!! in the world they treat your money like this!
I purchased an offplan property in 2007 in Jumeirha Village South and paid a premium for it. The mortgage provider has made almost 100% payment on my behalf. It has been more than three years with no news about this property. I follow up with Nakheel monthly and am told that they will be deciding soon regarding the revised completion date. This has been going on for the past 2 years and still they have not decided the revised date. Does anyone know the truth behind what is happening at Jumeirah Village? From what I was told by an agent is that Nakheel will concentrate on those developments where there are payments yet to be made to help with their cash flow and since this is not one of theose projects it will be delayed indefinitley. Can anyone corroborate this?
Is taking recourse to legal action is not an option? What u mention abt cash flow problem seems to b the main reason.
I am in a similar position to you. Paying a mortgage for a piece of sand in JV Circle. According to my contract 'The seller reserves the right to: advance the anticipated completion date by a period of up to 12 months' This means Nakheel are in breach of contract as they are now early 2 years delayed. The real problem is, there is no law to protect us. Nakheel won't give me a handover date and I have to pay for their mistake. That's why Dubai has a bad name for property-there is no law to protect us and the banks still want their money. If I default I go to Jail. Does anyone know of a way to seek justice?