Delay in Handover of Pearl Qatar Apartments

Hello i have purchased an appartement IN Viva Bahriya at the Pearl. i would like to sell but have no idea about the retail prices, i.e the price of the square meter . Can amyone help me ?

Thank you

here is my mail [email protected]

Have a look at that

http://www.qatarliving.com/node/938800

Sorry, I can't really help you as I know nothing about the Land. The only problem is that the towers seem to be completed !! but i wouldn't believe a word any agent says about the handover date.

I'd like to know about the delivery date of the Land towers in the Pearl Qatar..? I called them at the beginning of this month, they told me it will be by the end of March 2010.. really I don't believe them..

What about the connection fees .., and what about the Qatar cool company..??

Thanks

I agree..

can't wait to move in..

My apartment is in Danat Tower. The apartment and the tower is almost finished. The developer is correcting the list of items after our initial inspection. Also, they are trying to finish the garden(plants v.s.) and the amenity area(pool shading v.s.)

However, the apartment is not powered yet and I guess this is one of the technical blocking point.

I think once we move in we will forget about all those difficulties, worries, delays v.s. We actually bought a life style rather than just an apartment and I think the life in the pearl is going to be very beautiful and different than Doha.

I am also worried and anxious at the moment but trying to think that this is the last 1 month of the birth period, which is the most difficult part.

Good luck!

Yes, some of towers are powered up. UDC's Tower 4 and Tower 1 are powered, and there are people living there now. The La Riviera tower, First Qatar, is also powered up (i own an apartment there, and last time I was in the building was early December 09). Not sure when they will have water though ,, Anybody has been there lately??

I am not sure when exactly the handover date is for my apartment, but i think it is pretty soon.

Would you mind sharing with us which building/tower you are talking about?

I get a letter from UDC saying my apartment will be handovered in March 2010, which means 1 year of delay.(But after all, I don't know why(!), I still can't believe it!). Does any body get such a letter ?

Also, does anybody knows if there is Kahramaa connection in the Island(and powered) ? I think this is one of the "must" that should be available in the apartment before moving in according to Qatar rules...

I also heard that the island tax will be canceled.

any updates on new handover dates? We havn't heard anything since last May when Tower 4 was handed over

Has the Land handed over apartments yet? What about Sabban?

First Qatar were supposed to hand over nest month, but it seems they are not ready yet !!

"Also I heard service charges are likely to be 100 rials per sq mtr."

Is this amount per month or per year?.

Tower 4 has been handed over in Parcel 4, thats the first tower to be handed over, as well as the town homes in parcel 4. Tower 5 and Tower 31 are next as well as Parcel 6 townhomes. Properties in Tower 4 (Beige Tower) are also available for rent at very good prices and the apartments ROCK, the best in Doha. I live there, I know. Everyone you has half a brain will be living there by the end of this year, the views are amazing.

I hate to say to I told you so. I was banned from SSC by one of the Kids on there who didn't like my honest take on the long term future of Qatar. I make no apology for that. I was always honest and upfront about how I saw this Country.

As you know I invested in the Zig Zag in Good faith. We were told, certainly I was told, that the Prime Minister was involved on the project and it would be first class.

It's hard to really put into words just how far away from the truth this really is. Nothing could have really prepared me for just how disappointed I was after viewing my flat. And remember these flats are NOT cheap.

After my viewing I immediately put it on the market and advised EVERYONE to do the same.

I was so lucky I managed to sell it, to be honest I am not sure what I would have done if I hadn't. I am pretty sure I would have just given it back to the bank. I would have lost £40,000 Pounds.

As it was I made money, and how lucky was I. Not much after I sold the full extent of the financial crisis kicked in and about a month later the disaster in Dubai was finally coming to light.

The problem with all this is that I and others have been stung and made our thoughts public.

This country has most of the Pearl, Al Whabb City and Losail ALL still to sell.

Now tell me WHO is going to buy. OFF-PLAN is DEAD. No one in the Gulf will ever buy off plan again. Forget about the quality of the finished article, it's the delays that have killed it. I was supposed to be in Zig Zag last year. Who knows when they will be handed over now ?

It is quite frankly a disgrace, the delays and the quality issues have fatally undermined the market both here and Dubai.

Everyone says they are different, but they BOTH rose and SANK on the same tide. No one can deny that the two markets are similar, off-plan speculation drove the markets in sales and RENTS to completely unsustainable levels. The reason for this I think I outline at the top of this post.

There were simply NEVER going to be enough people with the sort of money needed to buy all the property being built.

There is no moral to the story, there is no happy ending.

Where do we go from here ?

Butterfly you better sell your flat in the zig zag ASAP. I haven't heard a single positive feedback on that project, both retail and residential plots concerned. I even heard there were plans to demolish it, issued by the Diwan al Amir, since it does not go along with the whole masterplan of the area and its architecture, having in mind lusail, the pearl, the cultural and sports villages near by.

I got few friends who bought in the zig zag and are very unhappy with the room space, finishings, extra columns erected from inside their own flat space to further support the diagonal walls, just to count few. The whole project is a mess.

i own a flat in one of the zig zag towers and hand over has been delayed for more than a year and still now, I havent heard of an official hand over date.

At this point, I would advise anyone to stay away from Qatar property market.

Aviduser, we miss you at SSC, she has been an awesome source of information.

aboucayenne, I am pretty sure you'll rent it very fast.

Best wishes.

The rental market in the Pearl is still up in the air, as no benchmark has been set so landlords and tenants are still haggling for the best prices.

It will be interesting to follow over the next few days, especially to see whether or not an unofficial price is set through word-of-mouth. I'm going to be catching a plane to Doha in a few hours to complete my handover. Wish me luck!

Today I get an offer for my apartment for rent. The person who made the offer is living in one of the best villa compound in Doha... I think, pearl will reshape the renting market.

Thanks for the clarification as to UDC being the developer not A contractor :-)

FYI to all: UDC has started hand over of the first tower is was building, tower 6 in PA, residents have already moved in and this has been been published in local newspapers. As far as other developers/ contractors...they have their own hand over dates (with their own delays) within their completion time line agreed with UDC, but that's between them their contractors and their clients.

You brought in cash. If I still had mine I would be properly foooked right now. The Pearl seems to be shaping up nicely. The zig zag turned into a complete disaster and a total shambles.

I have seen pictures of a kitchen in the one bed that has no windows and looks like a large cupboard. The place I brought turned out to be wore quality than Al Sadd Two and just as dark. They fooooked up the floor to window glass in the planning so most of the rooms the glass is actually walled in !!!. You simply cannot believe just how bad the flats are.

And apparently the zig zag ended up costing 1 billion dollars. It utterly beggers belief just how bad they are. The Pearl must be better. Good luck with it.

Still balls to it I am out of it and frankly don't care either way.

Qatar is a cash machine to me now, nothing more nothing less.

hanging from all the new buildings that have just been completed...I bhet they offer incentives to move in soon...

You can't teach experience...

gregturnbull thats more like it lol, as a person who is yet to receive his houses (mid june) you scared the living !#$* out of me lol

I am a bit taken aback that some people have actually believed the rubbish I wrote about leaning towers and water running down my walls. I am delighted with my apartment and can't wait to get the keys. I just wanted to make the pessimists rub their hands in glee when reading it as I felt sorry for them, that's the only way some people can be happy, when they hear about bad things happening to other people.

Yes there is a downturn in economies, yes things are all doom and gloom everywhere at the moment, but they always pick up! It's probably a good thing as it will take some heat out of the market and some developments are getting put on hold, so eventually rents will rise again, so don't let them panic you.

Well my apartments have been delayed from october to December to March to May to June.

Remember everone is entitled to a penalty for receiving the apartments late so I suggest EVERYOEN ask for it!

It may seem like 'only' 1,000 QR but take everyone into account and you'll understand how many apartments that amounts to.

The problem is that the government isn't getting involved to stop these people.

__________________________

Mr. Q's Blog - A Qatari's view on Qatar.

Possibliblity of an earhquake in Qatar is impossible at least in the coming 10.000 years... Actually, this is the reason that there is no mountain in the country. Geological fault lines in Iran is also too far from Qatar(unlike Dubai) to effect here. So no worries...

I strongly believe the success of this project and thinking that current prices are very cheap for such a development if you compare it with other similar properties around the world. So, if you have money invest in Pearl now, it will be too late next year.

Whoever believes the future of Qatar will win! Whoever, sits on the sideline will tell a story to their children what they missed.

Well, it is fun to share ideas with others here(hahaha).

People...enough with the speculation. Time will tell how this project's legacy will go down. I for one believe that Qatar is a beacon for progressive economic and financial reform in one of the fastest growing regions in the world. I like the diversification that we are seeing and I love the fact that an already wealthy country is set to see more of the same with the country's wealth set to quarduple in the coming years given the resources that are scheduled to go on stream. The country's population will continue to see robust growth unlike other "mature" markets that are declining or, at best, stagnant --- my western counterpart bloggers would agree given their presence here.

Are their risks? Sure, like anything else. The greater the risk, the greater the reward, but this project is going to be all the glamour in Qatar and the address of choice for upper end of Qatari society, as my counterpart bloger abu imad indicated earlier (The prices are just out of reach for the riff raff)...I for one, am glad I had the balls to get into the game and did not sit on the sideline...

Tut, tut, tut. Someone always has to go a bit too far don't they.

What a nasty thing to say about people who are building your country.

I will hoist that up the flag pole and see who salutes it!!

If you are Qatari, which I seriously doubt, then you are an embarassment to us.

-------------------------------------

I forgot to mention, you pay 2 million QR for apartment built by [removed by mod]? ha ha ha. They don't have electric or pipe water where they come from, but they install in your apartment? Now you have water running down the walls! Better you go to casion and gamble your money away, less stress.

You spend 2 million QR on an apartment in the Pearl in Qatar? Why? You could buy a penthouse in India for that kind of money, with the added bonus of not being in Qatar! Why you want to spend that kind of money to live here? I am Qatari and even I don't want to live here! lol. If you want to live in Middle East, live in Dubai.

Dumb foreigners, you get taken advantage of. They build whole Pearl on sand, it will "settle". Just wait for earthquake, when you see what happens to the wet sand they build on, like my friend say: quicksand. Buildings already unstable & leaning, wait for earthquake. Better you sell to other dumb people, even at a loss.

Whatever you do, don't be panicked into doing something silly by the pessimists above. There is a recession on, even Qatar hasn't been unaffected, but it is in a strong position, stronger than most economies. Things will pick up eventually.

2 points here:

1- It's not only the expats who got f!#$%d, many Qataris are in the same mess.

2- You wouldn't believe a salesman/person in your home country, why did you believe the salesmen here? Was it the animated 3d models? Was it their nice suits?

I didn't invest in these, they remind me of timeshares... You need to sign NOW!!! if you come tomorrow, the price may double.. special offer, today only.

i saw my apartment and i have o say i was hugely impressed, i said it before and i am saying it again, i simply did not see the !@#$ quality that i kept hearing about, maybe its because i am in tower 4 and other towers are different, maybe cause i am just plain lucky, but i really cant wait to move in their.... although the yearly charges and the connection charges are just....ouch.... better be worth it, but i have a feeling it is.....just have to wait and see

I have just been to see my apartment and Oh My God it is just TERRIBLE. It is actually LOP SIDED - I sat a ball on one side of the room and it rolled really fast to the other. The entire tower tilts to the right like the leaning tower of Pisa (maybe they could incorporate it into the Venice quarter?), and there is water gushing down the inside walls. When I touched the touch screen of the Home Automation System I got an electric shock. I have also received a bill for 20,000 pounds to pay to connect to the services. I am at my wits' end as to what to do. The property agent said I was brainless and uneducated, and that I shouldn't complain as "didn't I know it was all built on quicksand so I should have a beachfront balcony by early next year". The rental income is now projected to be minus 5000 riyals a month to get someone to stay there.

Does anyone above have any advice?

Yes, it was the highly educated people who handed over money for an apartment that wasn't built on an island of sand, and then complained about the delays.

Very highly educated.

"highly educated society"

Yes, perish the thought that there will be any uneducated people there. That would be awful.

I am wondering those who write "very" negative about Pearl has an apartment in the Pearl or not? I guess not... My experience showed that people(including me!) always say "very expensive" for any property, whether it is for rent or for sale because they take the benchmark as previous year's prices. But previous years has already been in the past...

About the Pearl: The life will be very different from Qatar in the Pearl. First of all, it will be much more civilized environment for ourself and our children. It will be multicultural, highly educated society. There won't be Land Cruisers with youngsters inside on the roads... And it will be one of the "must be seen" monument for the tourists(like Burj Al Arab) who are visiting Qatar. Can you imagine, cycling with your children inside the island?

I bought my apartment at a very good price at the beginning for living in there and already make good money. But I don't sell it-even if I have to- below 5000USD/m2 because I think this should be the minumum price for the Pearl. So, those who are buying apartment from the pearl nowadays with 12000QAR/m2 is really lucky!

I was fortunate enough to buy in 2004/2005 when prices were at 7,000/sq.m. so it won't take much to get a sweet yield. Have gotten two offers on my 2BR in tower 4 at 16k/17k but am holding out for 20k. Should get there as long as my fellow landlords don't panic -- Let's see how the market plays out. I am also expecting my 3BR in tower 9B later in the year which should fetch 23-25k as the place is massive at 270sq.m....I took a job in Dubai in August and live in Dubai Marina which is a nice lifestyle and I bet the Pearl will be just as sweet if not sweeter. I pay 30k/mo. for a 3BR in Dubai Marina so I have to think that the Pearl will be similarly priced when the dust settles...Am getting the itch to go back to Doha just to live in the Pearl! The pics my friends have sent me are impressive and everyone that has visited has been raving about it so it should be ok.

the pearl is an overpriced, underdeveloped pile of crap.

people should always be wary of the hype surrounding developments in this region given the shoddy workmanship and lack of responsibility from developers and contractors.

Who needs 18%?! I'm happy with 7, which it'll be if I rent mine out for 7K a month, (and also assuming the exchange rate goes back to 7 Riyals to the pound). I've already had 3 people express astonishment if I decided to rent it out for that and they said they'd snap my hand off for it. I think at the moment you can get a crappy 1 bedder in some shit area for that price but I am assuming the bottom totally drops out of the market in the future, just to be cautiously pessimistic.

Implies you can actually rent it. Till ANY of these places are rented then yields are purely theoretical.

The ONLY thing that will drive prices BACK UP is if ALL the Pearl is completely rented out at plus 12K for 1 beds, 18K for 2 beds etc. Then you will be sure that you will see a return.

Personally I doubt this can happen and I think the eventual release of the Pearl could further depress rentals in the City.

Qatar property prices 'back to 2002/03 levels'

PROPERTY PRICES: Qatar real estate prices have returned to 2002/03 levels, says the Al Waab City CEO. (AFP)

Qatar’s real estate market has seen a correction to return to 2002 and 2003 levels, according to the CEO of Al Waab City, a $3.3bn property development in the country.

Prices in the market had almost hit the bottom and would begin to rise again once that had happened, said Sheikha Hanadi Nasser Bin Khaled al Thani.

At their highest point, real estate prices in the Gulf state were doubling and even quadrupling within a year, she told Arabian Business on the sidelines of the Qatar Global Investment Forum.

Story continues below ↓

advertisement

One of the reasons for the peak was because the market struggled to keep up with growing demand for property from people moving to the country, said Sheikha Hanadi.

“Now everything is going back to the standards of 2002 and 2003, which is more logical,” she said.

“We are seeing a more realistic approach in prices and projects, in everything. We were overtaken with our exuberance and a lot of projects were not put on the market in the right way, assets were not priced in the right way - now it’s back to basics.”

Al Waab City, which is being built by Dubai-based Arabtec Construction, was still on schedule for completion next year, she said.

She refused to say how much had been sold of the development, which includes mixed-use residential units and low-rise office spaces in Doha covering an area of 1.25 million sq m.

Al Waab is a unit of family-owned Nasser Bin Khaled Al Thani & Sons Holding Group, of which Sheikha Hanadi is deputy CEO.

Sheikha Hanadi said her investment banking and asset management firm, Amwal, was looking to launch investment funds in Qatar and Gulf markets before the end of 2009.

“I think we will see a lot of opportunities within the financial services including restructuring, corporate finance and investment banking.

“For now we are concentrated on Qatar and the Gulf region, where are expertise and acumen lie.,” said Sheikha Hanadi, who is chairperson of Amwal, which she founded in 1998.

I have ALWAYS posted here to NEVER trust anyone from the developers unless he/she is a family member. I now and then went window shopping at times in the market only to be amused at the outright BS agents would spew out. Had to a fool not to see it. And it was amusing at times.

Funny thing is you can go to any developer/agent even now and they will blow you a fantasy tale that the property market is as good as ever and give 100 reason to buy an apartment. "Oh and the price is still 20,000 QR+ per sq. meter." I just got sick of these rodents taking advantage of people.

Another amusing fact is the allwoing of foreigners to buy in the "selected areas" for leasehold. These areas are all conjested junk areas inside c ring with the exception of al saad which is conjested apartment complexes as well. Basically alot of

junk areas unworthy and not really desireable. Worthy villas and commercial property in these areas are slim to none. And west bay lagoon and Pearl villas was and is out of reach for 95% of expats. Must be nice when you can go to any country and buy anywhere you want but only offer "selected" property for non-qataris to purchase.

Sad but true.

i dunno paople are aware of this or not but the whole electricity in the pearl city is generated by a heavy duty generator....after every 500 hours they shift to the spare generator to do service of the main generator and then put the whole load back on the main genarator after servicing...i heard they will get an electricity line from the electricity department and that will be just able to supply limited power to a residential building and a Mall.i don't think so far they have got the line too..anyways "cryogenic" you can expect more delay in this handover process..you can ask a legal consultant about what to do in this delay matter if not then lemme know.i know loads of people in law firm business.

All I know is that I am looking at a rental yield of roughly 18%...Not too shabby.

again here in DOHA...So there is your delay.

You can't teach experience...

Has anyone on here ever bought an apartment in a tower before? Maintenance fees are normal. They can be quite expensive too. My contract caps them at 65 riyals per square foot for the first 3 years but who knows what it might go up to after that.

Also, what if you've got a mortgage and the interest rate doubles? And if you can't rent the apartment out for the first few months?

And what if another suicide bomber came to cause havoc in Qatar? And what if Israel H-bombed Iran and the nuclear cloud blew over Qatar?!!!

Oh God so many things to prepare for, maybe I'll just go home and eat Pringles on the sofa so I am safe from all this turmoil.

I bought off the Land. They do have a penalty clause in their contract and need to pay QR 35 psm for each month of delay. It does mention that if they give you 3 months notice then they can extend the completion date by 6 months. They sent letters out to everyone last year giving 3 months but back dating the letters and then using reigistered Post to deliver the letters which obvouisly showed that they had only gven one months notice and back dated the letter.

I would advise anyone to keep away from The Land, no information, bad management, bad quality.

The first tenant moved into the Pearl last week. He moved into the one of the Alfardan Towers, the 1st one on the right when you enter the Pearl.

Last week UDC issued their handover letters to tenats.

Watch out for all the additional cost when it comes to handover. Maintaniance for the tower, monthly fee to Qatar Cool, oh don't forget the approx QR 18,000 connection fee to Qatar Cool, Land registry fee of 2.5%, insurance for the apartment.

I support the idea of forming a tenants committee to put some of these developers under pressure.

Received my handover notice today...very good stuff. Already received some interest to rent out the place so things are starting to look a bit brighter. Sorry to all the doomsayers out there, did not mean to dissapoint ;)

Yes it's all just so awful and pessimistic isn't it. I just went to see my apartment and hung myself off my balcony. Oh hang on, I mean I did a little dance.

Qatar real estate prices decline 40-70% since Sept

by Neeraj GangalThis

QATAR CHECK: The survey was conducted applying price data supplied by a number of real estate brokers.

The real estate prices in Qatar have dropped by 40-70 percent from their levels last September, the Emirates Business daily reported on Monday.

Citing the results of a survey conducted by Aswaq.net of Al Arabiya television, a state of stagnation and anticipation prevails in the LNG exporting nation, the daily said.

The survey was conducted applying price data supplied by a number of real estate brokers. It revealed that the price of land allocated for construction of villas in Doha declined by around 50 percent while prices of villa land outside the capital dropped by 65 per cent to 70 per cent.

Related: Dubai's residential prices down 40% since Q408 - report

Related: Arabian Travel Market 2009

Story continues below ↓

advertisement

Villa prices are down by almost 35 percent. A villa of 400 sqm inside Doha is now sold for QAR2m ($549,390) from QAR3m ($824,085).

Brokers told Aswaq.net that Qatar's real estate market is witnessing an unprecedented state of stagnation, eight months after the outbreak of the global financial crisis, the Emirates Business added.

Last week, Colliers International, the global real estate consultancy, had released the GCC Overview Report, which indicated that the impact of the global economic and financial crisis on Gulf real estate markets has been swift and dramatic leading to a decline in real estate capital values and rents.

According to the report, in Doha, the rentals for newly constructed office space have softened by 10%-15% over the last four months. The sales of residential properties have collapsed due to the lack of finance and a wait and see attitude on the part of buyers, the report added.

The total shopping mall supply is still on track to increase by 100% between Q1 2009 and Q4 2010, it said. According to consultancy, $17bn has been earmarked to boost the infrastructure for tourism over the next five years in Qatar.

Is just the beginning of the pain. High service charges, connection fees and hidden charges are all waiting to sap your money and your resolve.

I am also agree that, we should build up some kind of union to deal with developers instead of as individuals. If we made up an union we would be more powerfull, even we can make protest meeting in front of Pearl!!!

Guys, I think there will be more "surprises" after we move to our apartments(if we can move one day!)like high island tax, apartment management fees, registration fees v.s.

Of communication from the developers is further poisoning sentiment towards the property market in the Country.

I would say that sadly the market in Qatar is DEAD.

I know coming on here and saying that could further depress sentiment (although who on earth listens to an anonymous poster on the internet) sadly though I think all of us have a duty to warn people of the dangers.

UDC and others have a duty of care to their investors, or so you would think. Their treatment of the small investor is indicative of the scenario I outlined above. We essentially don't matter. Or should I say DIDN'T.

You see in the early days when the con was on, bulk purchasers were king, you were no one unless you brought a couple of floors, or better a tower. UDC didn't need to worry about the end user, the buzz created by sold out towers and their increasing of prices created a market for investors and not "end users" UDC really didn't need to worry about delivering on time as long as their preferred investors could off-load their towers before completion. To this end the delays worked in their favour. The longer the property stayed "off plan" the longer investors had to shift them before completion and before real rental demand could affect the prices.

UDC sold the towers on theoretical rental yields between 10-15% sometimes higher. The problem is as completion looms the full scale of over supply in the rental market is becoming apparent.

As rental yields fall so will re-sale prices, they have to. After all who would buy here for a yield of 4-7% when risk free you can have 5% in the bank.

Many people will be looking at negative yields due to falling prices of the actual apartments. This further depresses prices.

Qatar is in a real bind now, according to recent figures 38% of people here are involved in real estate and construction. This means that Qatar HAS to keep building, but as I have said before, it's building Villas and apartments FOR the people BUILDING the City.

As I have said before this was, is and always will be totally unsustainable.

Now we can argue that Oil going back up will bring the boom times back. It won't. It will simply allow Qatar to re-balance the budget. And of course hand out a bit more cash to the ones on the inside.

Great commentary and as a purchaser in Tower 9B which was originally scheduled for completion in June 08 (ok no one believed that) and then eventually reseduled for 31/3/09 I go along with all the comments above....and then I was telephoned on 27/3 to be told that there was a further delay (surprise)....my biggest complaint is the total lack of information. The delay I can deal with (even though my CB mortgage commeneced in a trigger date and not on reliant on the developer completing)...what I find a disgrace is the total lack of information from the developers.

Even if I was told to expect handover in Dec 09 at least I would then beable to renew my current lease with some peace of mind.

I honestly think that us fellow purchaser should get together sometime and apply our collective pressure on these developers....they give us no information whatsoever. Treat us like proper customers please!!

Thanks for that info braveheart but we as buyers has been patient enough without any results. You sound just like the developer "soon this will be completed and handover to the client soonest" I am afraid to say that soon in qatar in another year or two. Also how can circumstances be prevented but not controlled, if you control it then yes you can prevent it. Sorry if I sound annoyed but at this stage i believe no developer, or firms involved at the pearl. I have friends who work at pearl and they give me first hand information and they pretty much spot on(they say even if the tower is finish there is still alot of unresolved issues). The project is behind by long shot.

regarding delivery or completion of projects some unforseen circumstances cannot be controlled although this can be prevented,i know that qatar pearl project is now on track and nearing completion although its now in a slowdown process,am with PM/CM international consultancy firm and our company envolved in this project,just have patience and soon this will be completed and handover to client the soonest..good luck..

aviduser i agree with you all the way. you have it spot on

This is what Qatar gets for 'forcing to imitate' Dubai.

"Everything in this book may be wrong." Illusions: The Adventures of The Reluctant Messiah by Richard Bach

Simple

UDC sells plots to X Y Z developer.

XYZ developer sells entire tower to ABC man. Tower is sold out, advertise it in all your brochures.

Turns out ABC man is actually just XYZ with a different hat AND/OR mate, family of XYZ man.

OK so now ABC man has a whole tower to sell, how ?

Get XYZ man to sell it for you on behalf of ABC. But add 25-50% ABC man now uses profits to either build his own Tower or invest in same scheme again perhaps with different developer.

OR even better ABC man sells entire building to DEF man, who also gets XYZ man to sell the tower for him on his behalf. DEF man also adds 25-50% DEF man also sells up and enters into same scheme again.

This is how there were so many developers suddenly appearing in Dubai. They were all funded on this amazing pyramid scheme.

To be fair Doha has done this on a smaller scale, BUT !! how many of you out there were offered a "bargain place" on the Pearl from a a guy who just needed to shift a unit because of some "issue" with his finances. Come on come clean, you just brought from ABC or DEF man. Funny how so many of us were offered bargains.

BTW this only works in collusion with XYZ developer as they MUST keep raising off plan prices so the resale properties "look" like bargains and enables ABC and DEF to sell them on. Again Dubai is the better example as Off-plan was selling for more than built properties. This was when everyone suddenly went "URGHH WTF we have been had"

Simple scheme some people became very rich and the banks were all in on it. Why do you think they all got bailed out recently.

You see the pyramid was only good while you can keep adding people to the bottom, but as with any classic pyramid scheme there will always be a shortage, eventually, of people at he bottom.

This leaves ABC man with a tower he can't shift and a loan to pay off. Luckily ABC man is mates with the banks and is TOO BIG to fail, in swoops the BOSS and with a wash of the hands it's all forgotten about.

The towers affected will stand empty (see Jumeirah Beach residence Dubai for the finished article on that)

So any one want to disagree on that ?

Oh and we all come in after this paying WAAAAAAY over the odds for some small flat that someone has already doubled their money on.

By the way the loser is actually Qatar/Dubai as the plots were sold cheap, therefore not enabling Qatar/Dubai to fully realise their true value, if there really was any, of the development. Oh and of course the bank bailout wasn't cheap. AND Qatar will run a deficit this year, it's expensive bailing out your rich friends, ask the USA about that.

Confused, you should be as all this went on before we were invited to the party.

One last thing "venice in Qatar" sold out.

THE PLOTS TO BUILD PROPERTY ON SOLD OUT. NOT the actual PROPERTY. VERY BIG DISTINCTION. Has ANYONE seen ANY adverts for actual property in this area.

Same with Losail, I was told sold out, this meant they had sold 4 of the 4 plots from phase 1 parcel 1 lot 1. So technically "sold out" I suppose. Unless you remember he still has 96 plots from phase 1 parcel 1 lot 1 to go.

Good luck

BTW this is all very negative and cynical and I accept that, but I have very serious issue with what I see as robbing hard working people of their dreams and their livelihoods, OK so no one entered into any of this with a gun to their head but we all accepted that everything was above board and we put our trust in the Country and the people involved.

Now some of us were in it for a quick buck, but many others saw this as a long term investment, retirement plan kids education fund etc. We all thought it was "safe" we all assumed the best of everyone involved.

The financial crisis aside this would have come to pass sooner rather than later, the tipping point came when Off-plan exceeded built property, then the con was clear.

Is "The Land" a good developer?

It's harder to get a mortgage since the financial crisis kicked in.

Hi Pandlands:

Could you please explain properly what you wanted to say in:

"(Good luck if you these people who still need to apply for mortgage sine the banks don

t give it freely anymore)"

Thanks

Good point fubar.

Qatar's master plan? Their what??

I think perhaps you've just identified the real problem.

They have a goal, but seem to lack the plan to achieve it.

avid - you should really write a book, entitled something along the lines of "Why Qatar's master plan is failing, and how they're trying to hide it from everyone". Good stuff.

"Porto Arabia is only half sold, Viva Bhaia only a few towers have sold, and the Villas and "VENICE" in Qatar all unsold. "

where have you got this information from? do you have a source inside UDC who knows details such as these?

for those who can stand Qatar may leave and find another nest to lay :D....which "delay" is prohibited...

Client - COnsultant-Contractors- Sub-cons... which one to blame?

" CHAKA "

thats not the whole story ngourley, having no supervision is more the problem.

Hiring labourers from the poorest countries on Earth seems, with hindsight, to have been a false economy.

From what i have observed decision making is the biggest problem, when client contractors wanting to make a deviation, nobody wants to take the responsibility so you get a stalemate.

I must admit I looked at the Zig Zag Towers and the quality of the Pearl was far superior to the Zig Zag towers. Anyway we can go on the subject of quality all day it is simple if you not happy with the quality then your developer has to fix it before handover(yes i know easier said then done). I must say I do find it amazing with the lack of skill and ignorance of the workers at the construction site at pearl. No safety at all not even for clients when they come for a site visit. No hardhats given etc.....I have been to view my place at the Pearl A couple of times and all the times we found the workers sleeping.

I am the first to admit it was a huge mistake buying at the Pearl and I would not advise anyone to buy at least until completion of the First Phase is completely finish.

Seems like the retail shops were more important then finishing of Towers.

I see the Sabban Towers are done any idea when they will be handed over, has the issue w.r.t. Qatar Cooling been resolved.

Well if the Pearl is going to be a failure then I don't even want think what will happen to other projects.I also don't think that the Developers will last aswell if no units are sold. I heard the market for buyers at Pearl is at Zero, they cannot sell and people like us who want to resell cannot.

the main reason for delays in qatar is because everything has to be done at least twice. the workers have usually never worked on construction before and the management just sit around and drink coffee so when there is an inspection everything is wrong and they have to pull it out and start again.

also they don't take any lessons away with them, they will make the same mistakes in the last building they build as they did in the first.

Criticise people or call people stupid for buying here, we are not stupid but I think perhaps we were naive. We were all sold the dream, the large scale models and and sales patter were all impressive. Many promises were made, beach clubs licensed restaurants and bars all untrue.

Delivery dates that were completely unrealistic, YET PROMISED. And what are we left with, practically unsaleable property, a broken dream and bitter recriminations.

The problem Qatar now has is that it has soured our view of buying here, and they have a LOT of property left to sell. Porto Arabia is only half sold, Viva Bhaia only a few towers have sold, and the Villas and "VENICE" in Qatar all unsold. And what about Al Wabb City, and Losail ? Al Wakrah. All remain unsold and will do probably forever.

Who will buy now after our experience ? Once the truth about service charges, late delivery and poor quality get more widely known ?

The dream is over.

Yes, penny. "Planning" is an unknown, exotic word here.

that you had taken by subscribing to a non proven ventures. what else can they show as a track record in property development worthy of notice? not much is'nt it?

they had all merely relied on publicity stints pulled upon them by multinational consultants that handled the marketing packages and thought that money is all that matters, well not anymore.

and who's to be blamed now for taking the risk??

Lack of knowledge; as in somebody did not know the person that could get them the power lol

My thoughts are my own, but I doubt my Mum would agree with some of them.

Lack of power or lack of expertise. What's the difference?

the original reason why it was delayed was by lack of power. They could not get the electricity needed.

My thoughts are my own, but I doubt my Mum would agree with some of them.

Are you really surprised, guys?

aviduser I agree with you 100% we were all conned and scammed. what they did is put a carrot in front of the donkey's mouth. The shops at Pearl is only for marketing purpose.I have a friend who works at the Pearl as contractor and he told me that there is no way any apartment will be handed over for more then a year or two years...due to many reasons.

1. Qatar Cooling issue.

2. Infrastructure like roads and sewerage.

3. Shortage of building materials and labourers.

Our developer (First Qatar) delayed until end of Nov 2009 and I will certainly cancel. If it states in your contract you can cancel then you can.

The problem is everyone is afraid to challenge the develepors, guys we all paid a lot of money and it is your right to demand you service. we are not getting it for free.

I would advise doing it immediately. It is not untrue that many of us were sold a LIE in Qatar.

The biggest lie of course was that the apartments would be luxurious. The second that they would be delivered on time.

Perhaps the biggest lie and the one that al of us brought was the lie of QATAR. The lie that 10-30% increases in GDP would some how transfer into wealth and riches for EVERYONE in the country. This hasn't happened. Instead Qatar is rather like your neighbours winning the lottery, great for your neighbours but you aint gonna see any money.

Even before the present financial crisis this was becoming apparent, slowly it dawned on people, certainly I could not be the only one to notice that the richest Country in the World, did not look or feel very much like Monaco.

We invested because we thought that the WHOLE economy would benefit from the increases in GDP. Turns out, this just isn't true.

Add to this fact that we ALL as ex-pats are never going to WIN or GAIN in an economy so totally one sided and biased against anyone without a Qatari Passport.

We were conned, tricked and taken for fools. How did we buy into this DREAM, looking back it's difficult to even conceive of how we could have been taken in, but taken in we were.

So what now, some of us will lose money, some will lose a much, some ALL, others little.

There are much better places to put your cash, middle east property is a gamble that paid off for some but mostly burnt others, if you are thinking of doing it, don't. Don't be scammed, robbed and cheated. Promises are always broken, trust no one not even yourself.

there is no law or justice here and definitely no rights.

look at us, legal contract doesnt really matter if its an expat who is losing money.

DO NOT PURCHASE HERE. When things dont go right you will get screwed over.

havent u read about the uk owners who bought luxury flats at the sharjah corniche AFTER GETTING ALL DOCUMENTATION CHECKED WITH THE SHARJAH MUNICIPALITY.

Guess what? developer runs away with everyones money. And u know what the sharjah government has the audacity to say " yes we admit people have been cheated but please note that such situations are RARE in sharjah"

WHAT ABOUT ALL THE MONEY PEOPLE HAVE PUT IN? nobody cares.

Investing in the pearl is bad news, resell ASAP

I'm not so sure it will that easy to break the contract.

Clause 20.1, according to the post above, says:

"If the Seller (UDC) is unable to give possession of the unit within 12 months of the anticipated completion date..."

Well hasn't UDC just revised the 'anticipated completion date' to December 2009?

If so, they have 12 months from Dec 09 to handover, unless revise the 'anticipated completion date' again.

And do you really, honestly, think you'll get your money back?

What are the odds that a company too inept to build apartments on schedule will also be ethical enough to refund money to the hundreds of pissed off investors?

If clause 20.1 is accurate as described above then cancel the contract. Unless you brought in the first batch back in 2005 you are presently sitting on a loss. CANCEL.

This is an amazing opportunity to get out of jail free. I know some people are looking to live in the apartments but for those who are going to rent CANCEL.

Rents are falling and inventory around town is rising, it's coming to a point where your rent won't cover the mortgage and service charges.

OK here is another thing I heard owners can confirm Qatar cooling want a BIG connection fee to connect to their service when I say big I am talking 60,000 and upwards big. Also I heard service charges are likely to be 100 rials per sq mtr.

If UDC are in breach cancel. OR sell now for the OP. The exchange rate is on most peoples favour so selling now is a good bet.

Oh and the above poster is kinda correct QNB gave mortgages and you could defer the first payment for a year. BUT !!!! You paid interest on the loan from the day you took out the mortgage. AT 8-10% that is a lot of interest in a year.

If the developer did not inform you as per the contract within two months written prior the handover date you can ask them for compensation or threaten to cancel the contract. My friend did it and it works. Unfortunately my developer cover their tracks and informed us in time however this is their second delay and the cannot delay any further. My apartment is at La Riviera - 1st Qatar Tower. Developers are quick to ask for their money as per their schedule of payments but suck when it comes to delivering the product. Sometimes I wonder if it is not done on purpose. I hope the banks step in and os something because they have alot of power.

Paying the interest and installment is two different things.

You pay interest only on construction phase for the amount bank paid to developer.

You pay installment upon handover.

you can reschedule your payment from other banks, and you can start paying your installement by the next month of the handover date whatever the date is confirmed,

i will not accept to pay my installement unless i received my flat

I heard that the proposed supply price for electricity and water had gone crazy, but I've no idea how authoritative my source was. Perhaps it's one for our local media to investigate ;)

one of the financed banks responsabilities are to follow with the developers regarding the delay of the completion date if the customers they don't have access to claimed for such penalities for the developers, we should make a owner commitee for those who bought a property in the pearl, whatever the developer name, than we can solve our problem on case by case basis with the developer,if you are agree we should do an action plan

oh yeah, handing-over delays.. well, what else is new huh... coz this sure ain't...

One project in The Pearl which is "California" tower promised delivery Jan 2009. Unfortunately, not even half of the building was completed. The developer did not even inform their buyers earlier (but obviously they can't deliver it on anticipated date) so they send to us notice 1 week before that date stated in the contract that delivery will be May 2010. I believe that it is impossible to be completed on that new date. :(

-------------------------------------------------------

"Admit your mistakes...before someone exaggerates the story."

Ok let me just say to all the morons who comment and did not purchase at the Pearl not to comment. However on the subject yes handover has been delayed by all developers whether you bought from UDC,THE LAND, SABBAN,FIRST QATAR etc..

This is how it works if you bought from UDC you had to give 20% deposit and 80% on completion (Good luck if you these people who still need to apply for mortgage sine the banks don

t give it freely anymore) If you bought from developers they all have their own criteria as long as you were approved ny the bank.

As far as I know certain banks charge you interest on amount paid to developer to date. So if your apartment is delayed you totally screwd because this amount is almost equivalent to your mortgage repayment.

Yes there is problems with regards to the local Water and Electricity firm and Qatar Cooling(whicj i find strange) However if Qatar want to host anything like the World Cup or Olympics the will bid for it in 2020 and host it in 2024 because they are about 4 years behind wuth everything, but claim the 4 years ahead of everything.

Sometimes I think the Gulf Countries live in a Fantasy World and I hope they learnt as to what happened to Dubai..they tried to run before the walk. Qatar won't get there because they still trying to crawl.

To all those who bought at the Pearl good investment bad timing.

I am one of the unlucky ones.

Hi Kakka,

We knew that clause was only #@*$%%%, but now we know the excuse that they are going to come up with to not to comply to it. Give us peace of mind. lol.

The connection of Water & Electricity services are beyond UDC'c control hence they are not responsible for the late handover of the building.

We are in the same situation as you describe. We are curious to know if you have a similar clause 20.1 in your contract with UDC that stipulates:

"If the Seller (UDC) is unable to give possession of the unit within 12 months of the anticipated completion date, the Purchaser (you and us) may on 60 days written notice to the seller terminate this agreement and upon termination, the seller shall refund all amounts paid by the purchaser to the seller on account of the purchase price. The Purchaser shall have no further claim against the seller for any damages, compensation, cost or interest."

Thank you

my houses were delayed untill march, and i doubt even in march i will be getting delivery, i was supposed to take handover back in december, the thing is, UDC wont admit to the delay, they tell me my house is done, and when i asked i want the delivery, they told me well the electricity has not been connected to it yet, so they cant deliver...to me that does sound like a delay....to them, its just normal business.....

hmmm...even in India, most projects are delayed by a min. of 6 months but you get reimbursed per day the handover is delayed in India. dunno bout here

thanks for the resonses. someone asked me why the big fuss in the delay. my husband has been told by the bank, the delay has happened once for 6 months when the devloper gave us a written information but this is the second delay. the bank says irrespective of the handover the repayment has to start somehow, somewhere. so intense discussions are on as to when the repayment would start. Unlike popular belief, repayment doesnt start when you move in!!!

repayment starts on the first of some month which is mutually agreed upon. So the cheques are torn and new cheques issued and again the whole process is repeated and the botton line you do not even know when you are moving in!!!

when you put in a considerable amount as an investment and are ready to pay a huge instalment every month, the least you expect is a firm handover date.

whatever the reasons maybe the opinions of the customers seem to be of least importance.

And they talk about Qatar being the Superpower of the Middle East.

It is only in such small matters that the true professionalism of any organisation shows.

UDC is the Main Developer of The Pearl Qatar and The Land bought the Land from UDC to construct The Towers in Porto Arabia Vicinity of the Pearl Project.

Your compsny must be busy doing Interior of the shop in Porto arabia as the deadline is approching fast.

FYI - Burberry is opening their 2nd Qatar outlet in Porto Arabia vicinity of the Pearl Qatar.

Money will not be a Problem as You pay only 10% of the value % the rest is financed by a Bank.

90% will be settled only on receipt of the key to your apartment.

As mentioned above, try reading your contract. But bear in mind that this country doesn't really believe in honouring contracts of following the rule of law. Just ask the evicted tenants who signed contracts only to be kicked out or have their rents increased illegally. Or employees whose employers ignore provision in employment contracts.

All I can say is that I admire anyone brave enough to hand over money to purchase a property in the Gulf.

as someone mentioned earlier, to figure out what is righfully yours you have to read your contract.

I hear that payment on the units is not due until you move in so what is the big deal?

delayed construction is normal practice and like everything else, u cant do anything about it! its the same all over the gulf.

im not sure but i think the main contractor is UDC. bec my company is making shops at the Pearl. and my colleague has a VIP Pass from UDC for the Pearl Doha.

You all have a lot of excuses at hand. Why don't you say how it really is: the incompetence and unprofessionality of allmost all establishments in Qatar. I haven't found a single "professional" shop or site in Qatar in the past 15 years, but I like these amateurs!

its all manpower's incompetence in their field of work. some make mistakes so company will take the blame for it. there are departments in the contractor's side like electrical, mechanical, architectural, aluminum, plumbing. one of them has delayed of work sometimes or mistakes. they cant just turnover the project if it's not all done.

Andrews the revised dates were set by NDIA stearing commitee and All Contractors have to abide these decisions.

The Contractor is not responsible for Design Faults & Variations, Approval from the competant authorities etc etc. The Contractor can not be penalized for under these circumtances in fact the Contractor reserves his rights for additional compensations.

Oh Gosh, I'm disappointed. Everything's delayed here. Some said its because of construction material shortage. Perhaps its just caused by their inefficiency.

Kaka..I don't think It will be completed by 2011..

" Hatred is the coward's revenge for being intimidated"

....G.B. Shaw

im sure they're delayed on finishing the villas. some more maintennance or patch-up works on plumbing, electrical, architectural parts. it's an old reasons for contractors now. besides, the client will deduct the delayed weeks or months from the total contract value of the project

Why is every thing delayed here?

-----------------

HE WHO DARES WINS

Stage 1 & 2 of NDIA scheduled to be completed by Mid 2011

Al saban informed us to hand over our apartment on April 2009. So far, we have not received any notification of delay. Although i've heard UDC has some minor dispute still with kahramaa over electricity & water services.

I've heard of other people whose handover has been delayed by a year. It doesn't surprise me.

Kakka any info on when the NDIA will be open?

-----------------

HE WHO DARES WINS

Don't talk about the Pearl. even Zig Zag Towers are delayed for more 1 year. This is very common here. Not a single building has been completed in The Pearl so far :(

Look in your contract....I am sure it will have a clause which specifies the delay period from the sellers side.

I assume it will say that if they have notified you of the delay at least 3 mo.s before the anticipated handover date, you cannot raise any issues about it.

ALL I can say is this is normal in the Qatar constrution industry so get over with it.

"The best way to predict the future is to create it".

"Do you think such inordinate and inexcusible delays in its very first international project ( Pearl Qatar) projects Qatar in good light?"

Of course, not. It shows the "low expertise" of Government and Institutions which had been noted by the UN already. Actually the stupid people who fall for the advertisements and invest in a state that is "family-owned" have to blame themselves.

the land -- supposed to be one the best. creme de la creme!!

Which developer is it?