Tanmiyat says 70% investors happy after shake-up

Living Legends project survey results reveal impact of new payment plans.
Tanmiyat says 70% investors happy after shake-up
By Andy Sambidge
Mon 07 Dec 2009 06:44 AM

Saudi developer Tanmiyat on Monday said that 70 percent of its investors in the $735m Living Legends project were satisfied following a major revamp in customer relations policy.

Tanmiyat claimed its survey of customers found that 70 percent of its Dubailand villa owners were satisfied with the developer's performance, communication strategy and project status.

The remaining 30 percent were currently speaking with Tanmiyat negotiation teams to resolve any ongoing issues, the company added in a statement.

Tanmiyat's management attributed the positive numbers to its revised, RERA approved payment plan for clients including price rationalisation and property consolidation.

"We believe it's crucial to support our clients during this period of market fluctuation," said Dr Wan Hasni, advisor in charge of Tanmiyat.

"We designed an improved CRM strategy to demonstrate our continuous commitment to them. This strategy includes several proactive initiatives offering clients a variety of payment solutions, regular project updates and exceptional customer support to improve their experience with Tanmiyat."

The modified payment schedule offers home owners a payment plan benchmarked against construction milestones.

In addition to payment solutions, Tanmiyat is providing eligible customers with a number of compensation plans that include property consolidation arrangements and price rationalisation, involving the discounting of prices of properties bought during inflation.

Living Legends is part of the AED14bn Legends mixed-use entertainment development.

Tanmiyat said last month it was planning to expand outside the Gulf region and was already in negotiations for projects on the Caspian Sea.

The developer, which is also involved in Ajman Marina and Prince Abdulaziz Bin Mousaed Economic City in Saudi Arabia, is currently evaluating a long list of international locations for possible expansion.

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