Damac’s iconic towers in DIFC have been made to look a laughing stock to its owners and residents. The fit out contractor, Shapoorji Pallonji, has applied sub standard materials of an average standard and installation quality by a team of novice labour force.

Park Towers DIFC looks lovely until you look really close up. Work on all aspects of internal fitout is glossy from afar but when inspected closely, it is shoddy at best and falling apart.

Damac and Shapoorji Pallonji continue to dither over snagging lists whilst disgruntled owners wait patiently to see what if anything is going to be done.

Here are some examples of problems found;

• Broken wall tiles
• Broken or scratched floor tiles
• scratched worktop, sanitary ware
• scratched kitchen unit surfaces
• badly fitted kitchen units
• badly fitted and cheap cupboards and chipboard drawers
• Cheapest possible fridge, cooker, washing machine, dishwasher
• Leaking pipework
• No ceiling lights
• Shoddy paintwork

Common areas are no better with army of laborers ambling along to complete work that should have been done months ago. Contrary to Damac, all that glitters is certainly not iconic.

And if you have managed to complain, at least 10 times, someone might tell you it will be done. But, if anyone tells you it will be fixed sir. Don’t believe them, especially the handover teams from both companies.

If you have a snagging list yet to be completed then send a copy and we will name and shame this bunch of glossy ad pushers with no substance.

Damac and Shapoor Pallonji have a lot to answer for.

If you are thinking of investing where either of these companies are involved then you have been warned. What you might see in a glossy brochur or billboard is not what you will be getting. It will worse.

The long awaiting is over and Park Towers in DIFC, the heartbeat of Dubai is ready. Just take a look through the gallery of recent photos of interiors. The interiors and pool areas design is exquisite!
Damac has delivered a pair of

ParkTowersDIFC201201

Park Towers in the Dubai International Financial Centre has scooped the title of ‘World’s Best’ in the ‘Best Mixed-Use Development’ category at the prestigious International Property Awards in London.
The Park Towers development was propelled to the International Property Awards after landing five honours at the Arabian Property Awards last month.
“These awards are validation from our industry peers that our strategic approach to sustainable development has been the right course of action in a challenging market,” said Niall McLoughlin, senior VP of Damac Properties.
Perhaps the standout feature of the award-winning build is the architectural design. The twin elliptical shaped towers change shape as they rise, with no two floor plates the same, and the towers’ form expands from the base, with the maximum floor plates achieved at the mid-point, before receding until they reach the crest.
Triangular, energy-reducing, solar-glass panels comprise the external facade, with every panel a different size.

Damac properties have issued documentation to owners with instructions for the final payment, as well as steps to follow before handover is completed. Here is the outline for the email issued by the master builder.

We are pleased to inform you that we are now ready to commence handover of your Unit(s) as of January 15, 2012; Included with this letter are various documents that will help guide you through the handover process.

Please find enclosed a copy of your Final Invoice together with the invoice for the Annual Service Charge for the period January 15, 2012 until June 30, 2012. This is payable to the following accounts which may vary from previous accounts used:

Prerequisites for the handover of your Unit:

DIFC registration: Prior to commencing the handover process, please note that it is mandatory for all Owners at Park Towers to have registered their Unit(s) with DIFC by lodging the relevant Caveat. A payment of 3.5% of the purchase price and US$ 100 is payable for each unit, payment should be made directly to DIFC.

Payment Clearance Certificate (PCC): On receipt of the outstanding balance including Service Charge payment a PCC will be issued by our finance department. All balances must be cleared by January 15, 2012.

No Objection Certificate (NOC): For all Mortgaged Properties it is the Owner’s responsibility to forward a copy of this letter to your bank/finance company and arrange for the disbursement of payments. As a requirement for the handover please obtain a No Objection Certificate from your bank/finance company. Damac Park Towers Company Limited is not liable for any delays that may occur in disbursement of payments and penalties will be levied on delayed payments.

EMPOWER Registration: EMPOWER is the district cooling service provider at DIFC, you are required to register for their services prior to the handover. A payment of AED 2000 to EMPOWER towards BTU meter was paid on your behalf and is included in your final invoice.

Dubai Water & Electricity Authority (DEWA): You are also required to register with DEWA for connection to Electricity & Water. For further information please refer to the enclosed DEWA factsheet.

Central Gas: Park Towers is equipped with a Central Gas network; you will be required to register with the service provider Al Fahidi Gastech LLC at handover. You will note that the Final Invoice includes a Charge of AED 750 towards activation of Gas Supply by the Service Provider. For your convenience the required forms will be made available for completion by Owners or their Authorised Representatives at handover. No Gas Cylinders or Electric cookers are permitted within the residential Units.

Prior to handover, it is important to note that it is the sole responsibility of the Individual Owner / Occupier of the Unit to ensure that they have obtained adequate insurance for their Unit(s) & all contents. DAMAC Park Towers Company Limited will not be held responsible or liable for any consequential damages. Please also note that as of the Commencement of Handover date any and all charges levied by service providers such as DEWA, EMPOWER or any other utilities/service provider is entirely the responsibility of the Unit Owner.

Are you an owner and are looking for help with management of your property? Call 07932 785084

DIFC Gate District can boast occupancy level of over 95% for its 1.217 million square feet of leasable commercial. To the same time frame, third-party developments had leased around 58% of their office space. As more space become available, such as the soon to be released Park Towers DIFC, DIFC registered companies are looking to move out of the more expensive DIFC’s own buildings and into the third party space.

There is also another aspect that will force the demand for space in DIFC further. Recent rules being enforced stipulate that any company registered by a free zone has to have a presence in that free zone and, therefore, it has always been mandatory for any DIFC registered company to be located in the centre or it would lose its registration. In the past, due to lack of space, a number of DIFC-registered companies were allowed to conduct business outside of the DIFC free zone. However, this is no longer permitted.

All in all, this has to be a major factor for strength in rents and property values within DIFC when other parts of Dubai are not fairing so well.

There may be turmoil in global financial markets but Dubai International Financial Centre is quietly adding marque clients to its list. This presenting a fillip for residential and commercial real estate within DIFC. Clients are eagerly awaiting the arrival of Park Towers in DIFC.

A proof for those who believe in the long-term prospects of the region, the shakeup and the weakness in real estate present opportunities.

A market source said Citigroup, which has about 40 bankers focused on the MENA region based in Dubai International Financial Center (DIFC), had recently leased an additional 11,000 square feet at those premises.

French bank Credit Agricole plans to shift its regional base out of Bahrain into the DIFC. Sources have said Dubai may also house some back-office staff being moved out of Bahrain by another French lender, BNP Paribas.

With further rumblings of Arab Spring, that will undoubtedly prove good news for iconic residential accommodation and facilities provided by Park Towers located within DIFC.

It is inevitable that the floor plans in Park Towers DIFC in Dubai are going to be non uniform. Park Towers DIFC in Dubai is an iconic building comprising two identical towers. They have some resemblance to the Gherkin in the City of London. Here are the floor plans for the 1 bedroom variations. There are 6 types of 1 beds.

ParkTowersDIFC 1Bed

We like to keep an eye on how Park Towers DIFC apartments will be marketed for sale. Following is an ad found in a reputable Dubai publication today (08 Aug 2011).

Excellent 2 bedroom apartment is available in Park Towers at DIFC, offers a panoramic views on a high floor, with amazing size of 1436 square feet. This apartment has a sophisticated living and dining area with a very classy kitchen designed to provide the residents a luxurious yet contemporary layouts. Park Towers features Health club, gymnasium, spacious steam and sauna, Jacuzzi, tennis court, barbeque area, secured parking bay for residents, 24-hour security, individual post boxes, professional housekeeping, banquet hall, world class business center, concierge desk with 24 hours service. Located at the heart of the DIFC (Dubai International Financial Centre) and surrounded by lush green walkways, cafés and restaurants, where you can lose yourself in its shopping boulevards.

Find out more about Dubai Park Towers in DIFC.

Does your apartment in Dubai needs to furnished by creative, reliable and cost effective interiors? We recommend Dubai Interiors Specialists for a free consultation.

To give you an idea, the cost of fitting out a 1 bed apartment using mid range exceptional quality suppliers as a source, you need to budget $5000. The pack includes, bedroom furniture, living room furniture, kitchen utensils, bathroom accessories, table lamps, wall picture frames and decor, and 2 LCD TVs.

The Interiors Specialists agree your requirements brief and can fit out your apartment within 7 days. You will receive progress updates at regular intervals to keep you appraised.

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Park Towers at DIFC offer panoramic views of the Dubai financial hub and provide the ultimate in exclusivity and confort. All apartments in Park Towers DIFC include central air-conditioning, ceramic floors throught, double glazing, and kitchen amenities including designer fridge and cooker. The towers include Retail centres on Podium levels 2 and 4.

Park Towers intelligent design affords every apartment with a balcony for relaxation whilst enjoying the views DIFC that include the financial district, with its parks cafes and entertainment facilities. Other features include:

Attractive Lobby housing round the clock concierge desk.

World class Recreational Facilities featuring temperatured controlled swimming pool, tennis court, health club and gymnasium.

Banquet Hall and Meeting Room Facilities for private parties, banquets and business meeting.

Exclusive Services such as round the clock security, professional houskeeping, individual posrt boxes, and underground parking. Business Centre offering high-spead internet access.

FInd out more about Dubai Park Towers in DIFC.