Was able to recover this post from my browser history! Had typed this yesterday; unfortunately disappeared due to the HDD failure!
One more thing about the completion dates for ocean heights. Could you give me some milestone dates such as, when does the construction of the main structure start, or when roughly, will the tower be topping out?
Piling should finish in about two months or so. The main contractor will then be awarded and construction work will start immediately. They take this one year or whatever since launch whilst selling etc to go over tenders / choose the builders etc.
The tower is definately going to be built from what I know; Damac wouldn't still be selling apartments and doing piling etc if it wasn't.
I don't know about any other tower being built in Dubai Marina from Damac - but maybe its Ocean Heights 2 (I've heard some talk about this, and people are calling Ocean Heights as Ocean Heights 1).
Two primary reasons developments get delayed are:
1 - The Master Developer hands over the plot for construction at a later date than promised (obviously this doesn't apply today with Dubai Marina, but generally...)
2 - The contractors etc delay or mess things up. Damac fired the contractors for one of its projects - think it was Marina Terrace or The Waves due to unnecessary delays, low quality and other stuff I'm not too sure about.
Don't worry about criticism; I take it as a lesson. I'm still fairly new here, and I'm sure I'll hear lots of good and bad; just like every company!
FYI, we're launching a new project called Tucson Gardens in Jumeriah Village South - it will be similiar to Emirates Gardens 1 & 2. Smile
I have nothing to do with developing or launching projects - I just (try and) sell them. Smile
Factor #1 - If you've bought it for residential purposes, you're not going to be happy about having to pay rent and 80% of a mortgage on a tower that is 18 months late.
Ian, fyi, if someone takes a mortgage here (atleast for Damac's projects), they only have to start paying after the project has been handed over to the buyer. They pay nothing until then, except the remaining % that the bank won't mortgage (ie - maybe the 10-15% deposit).
I'm new and still learning so will try and keep answering your questions as best I can!