Hello

Please find below an update about Vancovour/Tortono/GP Towers, which I copied from www.alattar-properties.com website:

			Project Progress Update • Appointed Consultant and Contractor • Master plan approved by management • Concept design approved by the master developer • Ready for shoring piling and excavation • Compliance Certificate has been awarded by Nakheel After appointed the consultant and contractor the management has approved the master plan and the master developer has approved the concept design submitted by the consultant. The site fencing shoring piling and excavation is expected to start within a week time. The consultant is in the process of getting the NOC from Dubai authority for the main construction work. Perimeter fencing images available at Projects Gallery page. Posted on 28.10.2007

Login to the above-mentioned website to view progress photos - enjoy!

best Regards

Hi Guys,

I am looking for a 2 BR appartment in Toronto Tower with a premium of 7% inclunding transfer fee.

Any body interested?

Got this from another forum:-

I met with Mr Majid Al Attar, the manging director. He, somehow, convinced me by showing me correspondents from the NAKHEEL (the Master Developer) to AL ATTAR that the cause of delay is from Nakheel. Nakheel gave the Handover of Plots for construction in April and then issued the Compliance certificate (TO4) in May. I believe there is some further paper work left to be received from Nakheel before the contruction work starts. It is likely that the work on the Vancouver Tower will start before the Global Point. Mr Al Attar was optimistic that in the coming few months the work can start but acknowledged that it will take at least 2 years to complete (handing out apartments to clients).

As far as the MOU is concerned it says that Al Attar will fix the completion date whenever the construction work is started depending on final clerance from the Nakheel. The 5th instalment (the next outstanding) to be paid only after the completion of work the basement of the prposed building.

In my discussion with Mr Al Attar it would appear that Al Attar will refund any client wishing so but with no compensation.

One need to take into consideration several factors when amking decision: Some of us, including myself, paid extra premium to our agents for re-purchasing the apartments from previous potential purchasers. Al Atar will only pay you the payment toward the actual developer price of the apartment. The exchange rate now is quite diffrent compared to 2 years ago when we satrted payment by Sterling Poound. The legal system in UAE does not seem to be as clear as it could be in the UK. So I am not sure how much compensation would I be able to get from Al Attar. Lastly, it is also worth mentioning that the propery price is now higher than it was 2 years ago. Once the work on the site is started I am sure Al Atar will sell any returned units to them with high price.

As far as Nakheel is concern it would appaer that the delay was unavoidable after thier delay with the phase 1 work.

I personally encouraged Mr Al Attar to display any relevant documents and correspondents on thier website and also to email the documents they received from the Nakheel to all clients. He seemed to be in apprecxiation of my suggestion but not sure if his Sale/IT team will act soon.

Hi,

Alattar's web site says it all.

Regards

Hi ,

I heard the same as Decmeber '08 the project will be completed.Well., 400 k I guess is not a bad deal at all. Infact i heard that the constructin has not started yet and the launch off starting of the process of building Toronoto Tower will be in a months time.Looking a most of the projects getting delayed in dubai I guess its worth taking a chance.

Vandana

Hey folks.. am just finalizing a deal on a 1 bed apt at Toronto Towers for a cost of AED 400K all inclusive. Is this a good price? Am told the project will get completed only end of 2008 which is a long way to go and considering the way things go in Dubai it may get delayed. Can anyone tell me more on the Toronto Towers?

Thanks, - Sidney

Hi Guys,

Want to buy an apartment in Toronto Tower.Any sellers.Heard a good future investment but has got delayed.I guess someone could write any recent develpment on when the costrucion will start.Any feedback will help (positive ones).I guess people r not repenting it after investing the hard earned money.

Regards,

Vandana

Thanks Mike for this interesting but disappointing update. I'm visiting Dubai in April 07 and will be calling into Al Attar offices.

They need to provide some sort of update regularly on their web site to keep all customers informed.

I'm Purchasing an appartment @ Global Point and have been on board since May 2005. The waiting for progress update is very annoying.

I will update on my return what I have learnt.

26/03/07 14:51

Hi

Just spoke to gentleman called Imran at Atattar Property, Dubai. I was informed of the following: Vancouver Tower's (IC P3) new completion date is, now, Dec2008. "Alattar will send letters in May07 to all stockholders; informing of new completion date and reschedule date for the 4th payment ".

"The construction work will start in May 2007".  I assume it applies to Global Point and Toronto Tower as well.

When enquired about the compensation for the delays, I was told that the management hasn't decided yet, if any compensation would be offered.  

Kind regards

The latest from my contact at Al Attar

"The International City Phase III is doing infrastructure right now which means road construction and drainage. With regards my previous email. the latest update from the project manager, After completion of soil invetigation and demacration we are in the process to finalize the earth work to start shoring and piling at site. We have arranged the tender and collected shoring and piling proposals. We are in the process to finalize the subcontractor very soon in order to start the piling and shoring".

Looks pretty good.

hie

 imw going to buy a 1 bed room  does anyone knows if the work has begin yet??  and when it will be finished

thanks

shahryar

I suspect NOT. Global Point in the first in the development from AL Attar Properties to be completed and that construction is still to get off the ground.

My best guess is mid to end of 2008

Hi I am interested in buying a 1 or 2 b/r apt in Vancouver / Toronto towers. I need the follwoing help please:

1. What is the base rate + current rate
2. Net area  and total payable area in sq. ft
3. When is it going to be handed over for possesion
4. Which banks / financial inst. are financing it and upto how much cash down is needed

Many thanks