Deyaar 'preferred partner' for DIB's Plantation project |
|
Network this!
Deyaar Development CompanyDeyaar Development Company
said yesterday it might be the "preferred partner" for development of Plantation Equestrian & Polo Club, an equestrian-themed project in DubailandDubailand."Although we are not in talks with Dubai Islamic Bank [DIB]Dubai Islamic Bank [DIB]
, but we are preferred partners for them on this project," Markus Giebel, Chief Executive of DeyaarDeyaar, told Emirates Business.DIBDIB
recently took over the project from its previous owner Arthur Fitzwilliam. The bank owns a 41 per cent stake in DeyaarDeyaar, according to Zawya.com.On Sunday, Dubai's Real Estate Regulatory Agency (Rera)Real Estate Regulatory Agency (Rera)
stepped up action against Plantation HoldingsPlantation Holdings by sending its first public notification for cancelling the developer's registration with ReraRera. Following the cancellation, DIBDIB now has full ownership of the land belonging to Plantation HoldingsPlantation Holdings as part of a foreclosure process.When contacted, a DIBDIB
official said it was currently building a database of project investors and gathering information on all the contractors and consultants."Our primary concern as of now is to build a database in order to get all the investors, project consultants, contractors and suppliers under one roof. We had one investor contacting us from Kuwait, we had a supplier contacting us from Bahrain. So it is important to gather all the names. We will then forward the list to ReraRera
which will then arrange for due action to be taken and compensation to be given to the parties concerned."The project is not cancelled and will be built as per initial plans, the official said.
Plantation Equestrian has a construction value of about Dh13 billion and is located off Emirates Road.
ReraRera
's Chief Executive Officer Marwan bin Ghalita told this newspaper that this is the first public notification to cancel a developer's registration and there would be more if developers fail to adhere to the regulations laid down by Law No 13 of Initial Property Registration."We have set targets for developers to register under Law No 13 and due action will be taken against those not adhering to the law.
"This is a dispute issue. Arthur Fitzwilliam registered only once with us and did not come back to complete other registration formalities. And so we have taken this step," said Ghalita.
All the investors who have bought a unit in the project are requested to go to DIBDIB
within one month from the date of issue of the advertisement and follow up with the bank on the status of their investment, Ghalita said.Plantation's main asset is a 20 million sq ft plot, equal in size to 370 soccer pitches, allocated to it for a project called the Plantation Equestrian & Polo Club that would have formed part of the planned $80bn (Dh294bn) DubailandDubailand
venture. The project was to include a five-star boutique hotel complex, five polo fields, an equestrian and polo academy and more than 100 villas for sale.By Anjana Kumar
© Emirates Business 24/7 2008
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Loading ...
Post Your Tender Notices for FREE
(No Sign-in Required)
Zawya Tenders is a Tender Notices service entirely driven by contribution
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
| Real Estate Tenders | Due Date |
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
| Emirates Aluminium Company | UAE | Metal Production |
| Sharjah Electricity and Water Authority | UAE | Electric Utilities |
| Emirates Telecommunications Corporation | UAE | Telecommunications Services |
| Al Azizia Panda United Company | Saudi Arabia | General Retailers |
| Commercial International Bank (Egypt) | Egypt | Banking |
| Dodsal Engineering and Construction | UAE | Construction and Design |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Al Futtaim Carillion - Marina Hotel (Yas Island) | UAE | Real Estate |
| Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 | UAE | Industry |
| Abu Dhabi DOT - Abu Dhabi Metro | UAE | Infrastructure |
| ENEC - Nuclear Power Plant | UAE | Power and Water |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Dubai RTA - Dubai Metro | UAE | Infrastructure |
| Al Safwa - Jeddah Cement Plant | Saudi Arabia | Industry |
| Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway | Bahrain | Infrastructure |
| Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway | Qatar | Infrastructure |