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White Bay developer Al Murjan goes bust......
Oh dear............... defaults by “nearly 50 percent of the buyers.”
http://www.bloomberg.com/news/2010-1...s-default.html |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by The Dean
(Post 9001550)
Oh dear............... defaults by “nearly 50 percent of the buyers.”
http://www.bloomberg.com/news/2010-1...s-default.html |
Re: White Bay developer Al Murjan goes bust......
“Buyers want the project to go ahead and want to know the real reason for liquidation,” Yamalova said. “They can’t understand how the Sheikh can’t get his own administrative agency to grant him approvals.” So the deputy Ruler doesn't have the Wasta to get a multi billion dollar project approved, sure..... |
Re: White Bay developer Al Murjan goes bust......
I'm shocked to hear a UAE property concern could go bust.
I mean, the dedication to professionalism, transparent financial dealings and commitment to never miss-sell at all. Not to mention most local banks are simply excellent at loan risk assessment... I won't even mention how they carefully survey the market to ensure what they build will be supported by the local market and not left empty for months or years. How could this have happened? :p On a more serious note a friend of a friend brought in the Green Community and apparently lots of seawater from the water table has been gradually seeping up, killing the plants and causing the property to sink. N. |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by Norm_uk
(Post 9003112)
I'm shocked to hear a UAE property concern could go bust.
I mean, the dedication to professionalism, transparent financial dealings and commitment to never miss-sell at all. Not to mention most local banks are simply excellent at loan risk assessment... I won't even mention how they carefully survey the market to ensure what they build will be supported by the local market and not left empty for months or years. How could this have happened? :p On a more serious note a friend of a friend brought in the Green Community and apparently lots of seawater from the water table has been gradually seeping up, killing the plants and causing the property to sink. N. |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by Norm_uk
(Post 9003112)
I'm shocked to hear a UAE property concern could go bust.
I mean, the dedication to professionalism, transparent financial dealings and commitment to never miss-sell at all. Not to mention most local banks are simply excellent at loan risk assessment... I won't even mention how they carefully survey the market to ensure what they build will be supported by the local market and not left empty for months or years. How could this have happened? :p On a more serious note a friend of a friend brought in the Green Community and apparently lots of seawater from the water table has been gradually seeping up, killing the plants and causing the property to sink. N. |
Re: White Bay developer Al Murjan goes bust......
Hi all,
I'm a reporter in Abu Dhabi. I'm interested in finding both Al Murjan and Green Community owners. If anybody knows owners, can you please respond to my sign on here? Thanks... |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by abudhabires
(Post 9073692)
Hi all,
I'm a reporter in Abu Dhabi. I'm interested in finding both Al Murjan and Green Community owners. If anybody knows owners, can you please respond to my sign on here? Thanks... |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by Blue Cat
(Post 9073700)
hi there, why Green Community Owners is there a problem there?
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Re: White Bay developer Al Murjan goes bust......
Originally Posted by EmiratesMillhouse
(Post 9073702)
Res' in-depth research on this forum suggests that flats in the Green Community get flooded when it rains and the sea water has killed the plants.
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Re: White Bay developer Al Murjan goes bust......
Originally Posted by Blue Cat
(Post 9073705)
mmm yes they do, well at least my friends did a couple of years back :(
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Re: White Bay developer Al Murjan goes bust......
Originally Posted by EmiratesMillhouse
(Post 9073708)
We know. Res and I have both read post 6 :)
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Re: White Bay developer Al Murjan goes bust......
Originally Posted by Blue Cat
(Post 9073718)
:rofl: I don't go back on a thread !
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Re: White Bay developer Al Murjan goes bust......
Originally Posted by abudhabires
(Post 9073692)
Hi all,
I'm a reporter in Abu Dhabi. I'm interested in finding both Al Murjan and Green Community owners. If anybody knows owners, can you please respond to my sign on here? Thanks... We bought on the whitebay project, did not default on our contract and paid 50% untill completion, we now have a meeting set up with Al murjan liquidators to discuss ou option for re- paying us some money back. We have one of the earliest appointments so if ou would like to discuss this please give me an email adress.:fingerscrossed: |
Re: White Bay developer Al Murjan goes bust......
Originally Posted by abudhabires
(Post 9073692)
Hi all,
I'm a reporter in Abu Dhabi. I'm interested in finding both Al Murjan and Green Community owners. If anybody knows owners, can you please respond to my sign on here? Thanks... We bought on the whitebay project, did not default on our contract and paid 50% untill completion, we now have a meeting set up with Al murjan liquidators to discuss our option for re- paying us some money back. We have one of the earliest appointments so if you would like to discuss this please give me an email adress.:fingerscrossed: |
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