Lusail delays

Project launched in March 2006 is now over 5 years late on delivery. Would help if you had planning permission before talking many millions of dollars of peoples money upfront. Perhaps there is method in the madness. We are still waiting Damac......

hiforever,

Unfortunately, you must be prepared for the fact that there are great chances that you may have lost your money.

The good news is you will not loose any more if you do not pay anymore. The law here does not protect you, the rules can change at any time and there is a great lack of transparency.

Investing in Qatar or in any GCC country is a huge risk as they are not sustainable economies, long run stable societies, the local climate won’t allow prosperity once the dependence on oil and gas diminishes and other regions such as Africa, South America and Asia will further develop.

Qatar's growth will achieve its climax just before 2022, after that it will go down the hill as all investments are solely for the WC 2022. Once that event will take place, the bubble will burst leaving Doha with its inhabitants and a few maids and laborers to attempt the maintenance of the overdeveloped empty facilities.

Lusail was a failed project since its beginning, born during a period of blind greediness inspired by the Dubai's "success" and just look what happened to Dubai!

Soon after 2008, once the world witnessed the beginning of Dubai’s collapse, Lusail’s project slowed down almost to its stop.

Doha city itself is oversupplied with residential and office buildings. There is just not enough people to fill in what Doha has already built and it continues to build with a population of only 350000 nationals. The rest are temporary workers like us who won’t settle here as we will never have a citizen’s status.

Last December when Qatar managed to get FIFA’s nomination to host the WC 2022, the project saw a (the only) reason to continue and it was reawaken. However it has been going (yet again) at a very slow pace and there are "internal" unsolved issues that will further delay its course.

It will go on (at least partially) just for the WC 2022 but it will never be what the brochures, placards and artists impressions have shown you!

Just look at The Pearl and see how many problems it has encountered and many more yet to come.

A final note, remember that buildings here in this harsh climate have a very short life span. A 4 or 5 years old building here, may look as old as a 50 year old building in a tempered climate.

After this brief insight, it’s up to you to decide but if I was you, I would rather invest in your own country. A progressive, successful developing democracy with great long term sustainable economic potentials.

Best of luck to everyone who invested in Lusail - I feel for you, I have friends in same situation

I paid Damac QR.200,000 in March 2008 and QR.200,000 in Sep 2008. For some reasons IBQ withdrew the loan which was approved. Now my money is stuck with Damac. They promised to hand over flat by July 2010. Till date no work progress and now they are selling the same flat for half price . How to get back this amount. Can we all jointly represent in court for the refund. Kindly reply [email protected]

I invested 20% i.e., 400,000 QR with Damac afetr they assured IBQ bank loan. For some reasons IBQ withdrew the partnership. Can some one help me to get back my QR.400,000 from Damac?? I am cheated by Damac. Till date there not a single contractor is working.

Shergar,

Contact the international media, those who are keen to unveil the real Qatar. Some attempted but failed due to lack of knowledge, after FIFA scandalous award of the WC to Qatar.

I am sure they would love to publish some insight stories about Qatar so the world will have the opportunity to know more about this region as often it only shows off its fake façades.

Unfortunately there is no real legal protection for the buyer in this case.

The law governing this is strongly in favor of the developer.

Thanks for your well wishes. We have 12 people in our group now and growing. We want more members so please join us if you are one of the 450 unlucky unit holders who have fallen victim to this scam.

I'm no financial analyst but how much sense can it make investing in a non-democratic monarchy where freehold real estate is in it's infancy,legalities & litigation procedures stuck in the stone ages & where the Government can have the individual deported on a whim irrespective of if they are property investors or not?...just a thought...i hope you guys can sort this out with the developers because legally there aren't a lot of options...good luck...

After so many published false ensurances from senior management, missed targets, cheated people, why there is no proper Media coverage of this scam?

"Construction work is expected to start this year at the multi-billion dollar Energy City Qatar project with a completion date in 2011, its CEO has announced.

Basic infrastructure work at the Gulf region’s first oil and gas industry hub, based in Lusail, will be completed by the year-end, chief executive officer, Hesham al-Emadi said.

Seventy percent of the infrastructure work had already been completed at the industrial centre which will also be home to 200,000 people, Emadi said in comments published by Gulf Times on Thursday, 9 April 2009."

read more here: http://www.arabianbusiness.com/energy-city-qatar-on-target-for-2011-completion-13903.html

Here are comments posted in Arabian Business

Posted by: David Chaddock

Wednesday, 8 September 2010 5:56 PM[UAE] - Qatar

"Your staff reporter said "The first phase of the development is expected to be operational in January 2011 and will include waterfront dining and shopping." I live nearby Lusail I can see what the basic infrastructure level is. There is no-way that this statement can be correct. I (and many others) would like to know when construction will commence (be permitted by the master developer) on the Fox Hills residential development. Off plan property was sold in 2006 for expected completion in 2010. Currently only enabling works have been completed. The site is a hole in the ground with a tin fence around it. Perhaps some real investigation and reportage rather than repeating press releases is in order????

Posted by: shergar

Thursday, 14 October 2010 10:23 AM[UAE] - Ireland

"So many people are dissatisfied. Long delays, very poor/non existent customer service and statutory rights, also unsatisfactory completion standards we hear about for projects to date!

I really fear for Qatar's future real estate in terms of overseas or home investment. They must grasp this opportunity and take the required measures to attract investment but I feel it may be too late."

http://www.arabianbusiness.com/dubai-s-mourjan-marinas-lands-lusail-city-project-345852.html

cant say bankrupt but short

I heard Damac has gone bankrupt, I hope I am wrong for your sake and yes search via Damac on QL. There were few other people who were upset about it.

All the luck in the world, to those who attempted to invest their money in the Qatari' real estate (The Pearl and Lusail).

topics and get to those members who werent happy with damac. there about 10 i think