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Dubai Marina project Eden Blue gets green light
Haiti News.Net
Friday 31st July, 2009
Construction will commence later this month on the Eden Blue Tower at Dubai Marina.
Developer Dujan Properties has signed an agreement with Goldline Contracting to construct the 28-storey tower. Piling and shoring was completed earlier this year. According to Dujan the final building plan will be issued by Dubai Marina next week. Mobilization on the site is expected to commence in two weeks, while full-scale construction is scheduled to be underway by the end of of the month.
The 308 apartments in the building have been sold off the plan, some as early as January 2007. For investors in the project the announcement of the awarding of the main construction contract will come as a relief as many projects in the emirate, the UAE, and indeed the Gulf, have been indefinitely delayed or shelved altogether. Dujan has consistently maintained the Eden Blue project would go ahead. The company is believed to have relaxed some payment plans by investors during the contract negotiations which became protracted. As per the law in Dubai, instalment monies handed over by investors are held in an escrow account and are released only for construction work. The Eden Blue escrow account is administered by Amlak Finance and is held at Dubai Islamic Bank. Dujan has written to investors asking them to keep their payments up to date.
For Goldline it is the second major contract it has been awarded in the past month. In early July the contractor was brought in by Al Attar Properties to build its three-tower Vue De Lac project in Jumeirah Lake Towers. Goldline replaced the original contractor who Attar Properties said was not up to the task.
Goldline has committed to a 20-month timeframe for the construction of Eden Blue, with completion scheduled for April 2011.  Email this story to a friend
Comments on this story
Anonymous
08-01-09, 08:13 AM |
Dubai Marina project Eden Blue gets green light
i wish this story was true. Maybe it is ? Who knows with this crowd here in dubai. Ill wait and see. I purchased off plan in 2007 and investments house said it would be finnish 2009.
Here we are in 2009 and only the piling is completed. They also downsized the appartment and charged us more. Are they still going to mess us around? They then told us that they were waiting for oil prices to go down last year and now they are looking for more payments?? I dont think so. Not until i see at least the main appartment s being commenced. This is agreed by RERA in Dubai
Buzz
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Jane 22
06-11-10, 12:20 PM |
Re: Al Attar Developments Fraud
Re: Al Attar Development
Al Attar never had a genuine intentions to build any of these projects from start. They used the investors fund to develop their own projects. In Economic Term This is known as “Al Attar Free Financing Scheme”. The best way for investors to get their money back would be to: 1) Arrange an action group (there are hundreds if not thousands of dissatisfied/cheated on investors) by asking the investors in these failed projects to get together. Creation of a web site toward this goals with investors email addresses would be a good start. 2) Collectively approach RERA to file the case against Al Attar. 3) Invite local Media (i.e. The National and Emirates Business 24/7) to report the case. 4) Use social media to express your experience with Al Attar. 5) As Action group stay cohesive and together (as Al Attar have used the policy of devide and rule for long time) 6) It is my understanding that the case is very similar if not identical to “Al Boom” case; however, it is a shame that this has gone quiet for such a long period.
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