Home / NEWS / GTCC signs contracts to build projects for Damac

GTCC signs contracts to build projects for Damac

by Sarah Blackman on Mar 11, 2010

21 Comments

DSC executive director Saleh Muradweij.

Gulf Technical Construction Company (GTCC) has won two contracts, worth US $131.7 million (AED484 million), to build new residential projects in Dubai.

GTCC, a subsidiary of Drake and Scull Construction (DSC) will begin work immediately on Damac Properties’ Lakeside, a residential project comprised of four towers located in International Media Production Zone and The Corner, a 15 storey commercial building in Business Bay.

“DAMAC’s reputation for building iconic projects in desirable locations in Dubai and across the GCC is well known,” said DSC executive director Saleh Muradweij.

“We feel that we were a natural choice for this project given DAMAC’s eminent association with premium contractors and we look forward to a long and successful working relationship.”

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FEATURED COMMENT

I also have a apartment in this development. Reading throught the threads here am I correct in assuming that Damac are i

21 Comments

Readers' Comments

Sunny (Jan 31, 2012)
London

Lakeside Development
I also have a apartment in this development. Reading throught the threads here am I correct in assuming that Damac are in breach of all their contracts for properties in this development?

Lakeside buyer (Jan 15, 2012) United Arab Emirates

Extremely unreliable developer
With reference to the comments posted by "Lakeside investor", I would suggest all all lakeside property holders should meet and discuss the put an agreed agenda/strategy before making a move forward. This project has been delayed by 3 years+. In this 3 years, the property price has already become half all across. When you talk to Damac agents on phone, they absolutely know nothing except to say "completion 3rd quarter 2013". I think the developer is ruining its own reputation. I strongly believe there should be a DECENT compensation must be given to all property holders from developer's side.

Lakeside Investor (Dec 20, 2011)
Dubai
United Arab Emirates

Lakeside Investors: Please contact...
Dear Lakeside Investors, We have take the initiative to combine and channelize our discussion/negotiation with Damac Management Team. Please know that its not a law firm. Its a group of individual who are getting together. We have currently 20+ Lakeside Investors already in group and our plan is to combine 150+ Investors. Please contact us on lakeside.investor@gmail.com as soon as you read this thread. We have got the Contact details of Management team and also know the official process to approach them. Its era of social media/internet...no one can steel anything from anyone...publically. We have listed few options/agenda for Damac - which we will share once we receive your emails. Lets try our best to get our money back. Thanks... Lakeside Investor Group

Raj Nambiar (Jun 16, 2011)
Dubai
United Arab Emirates

Lakeside Apartments
I have also invested in the Lakeside Apartment project.. Skeptical about the revised delivery date of 2013. Need my money back. What can be done?

munira (Jun 5, 2011)
Kuwait

Lake side
Dear Contractor, Can you please provide us any update on the construction work going in Lakeside. You can understand our anxiety that this project is delayed without explanation from DAMAC. It will be helpful if you can provide us some real updates on this project.

Sarmad Qureshi (Nov 23, 2010)
Dubai
United Arab Emirates

Legal notice is the way to go !!
I have also an apartment in Damac lakeside, I have consulted my corporate legal attorneys and they have studied the contract and have seen the documents, and are suggesting to go legal againt them and we can get refund too because Damac promised to handover in 39 months from the date of handover of the plot from IMPZ to damac for contraction, now we have to go to court to force them to give us the copy of that letter of handover of plot date? For that mater I suggest to contact me and pool money for the lawyer and do a collective litigation complaint, otherwise we all should forget the money. My email is sarmadmqureshi@gmail.com and cell is 00971 50 5580133 I am the regional manager of a multinational in Dubai, let's hope for the best and send me details of other people too who have this lakeside property.

Matthew (Nov 17, 2010)
London
United Kingdom

Lakeside
I have invested in three Lakeside apartments. They should have been completed next month ( Dec 2010 ). NOT in 2013. I have no faith or trust left in DAMAC and will never invest in Dubai again. I too want my money back as I cannot believe in anything that is said to me by DAMAC. What do I have to do to get my investment back. ANY OF IT?

Nadeem (Oct 19, 2010)
Karachi
Pakistan

Damac - Lakeside
I want to get my money back. Can somebody tell me the procedure.

Faraz (Oct 19, 2010)
Karachi
Pakistan

Damc Lakeside
Can anybody tell me how can I get my money back, because I don't think it would ever get completed.

Adeel Hussain (Oct 14, 2010)
Abu Dhabi
United Arab Emirates

Recent update from Damac office
I just called DAMAC office on 14th Oct 9:15 UAE time to get the recent update on the project & to know the anticipated completion date. The recent news is 3rd Quarter of 2013.

Adeel Hussain (Oct 14, 2010)
Abu Dhabi
United Arab Emirates

Slow progress
Dear All, The Progress on Lakeside site is quite slow. I am going to visit the site today and keep you all posted with the latest updates.

siva Kugathasan (Aug 29, 2010)
London
United Kingdom

Lakeside Project
i HAVE BEEN TO ONE OF THEIR OFFICES LAST WEEK AND I WAS TOLD THAT THE PROJECT IS DUE FOR COMPLETION IN FIRST QUARTER OF 2013.

siva Kugathasan (Aug 27, 2010)
London
United Kingdom

Lakeside Project
I have a property at Lakeside and I have been to one of their offices this week in Dubai. I was told by one of them that the Lakeside project will be completed in the first quarter of 2013. I would like to know where do we go from here.

Imran (Jul 7, 2010)
London
United Kingdom

Damac - Lakeside
I am in the same boat, having purchased a property in lakeside. I have not really had any communication on what is going on. When I phoned they told me that it was just slightly slow at the moment and will start again.

Adeel Hussain (Jun 21, 2010)
Abu Dhabi
United Arab Emirates

Lakeside updates
Dear Contractor, Can you please provide us any update on the construction work going in Lakeside. You can understand our anxiety that this project is tremendously delayed. It will be helpful if you can provide us some real updates on this project.

Hoss Atarodian (Jun 7, 2010)
Kissimmee
USA

Lakeside Apartment
I purchased a Lakeside unit in 2007. I contacted the agent at Damac and we have received no response. Damac is hiding and not keeping their promises. How can we all get our money back legally? Please advice. Thank You.

Adeel Hussain (Jun 3, 2010)
Abu Dhabi
United Arab Emirates

Massive delay
I purchased an apartment in Lakeside on 7th March 2007. Unfortunately DAMAC could not keep up their promises. 3 years have been passed and the project is still in preliminary stages. I am sick & tired of DAMAC 's staff excuses and repeated informations. I need my money back too ASAP. Should we all approach RERA?

nasser (May 6, 2010)
dubai
United Arab Emirates

DAMAC Lakeside
I have the apartment at lakeside Damac and after 30 months delay when I am asking them to give my monies back they say we can't give your monies back and I just want to know, what to do?

Mohamed (Apr 26, 2010)
kuwait
Kuwait

Lakeside
Hi Alan; what's steps do we ahve to take to get the money back. I myself got apartement in lakeside

mahmoud (Mar 21, 2010)
dubai
United Arab Emirates

good news
it should be reflected in the market

Alan Palao (Mar 11, 2010)
Gibraltar
Gibraltar

DAMAC
i have a few properties at lakeside and this development is now delay two years, they have defualt the contracts with thier clients and now we are going to request monies back!

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