Slowest off the plan build time - 9 years so far.

[DoobyNuts]

I think I must have the record - 9 years so far.

Latest estimated completion date is June 2016 to take it to about 11 years from initial deposit to finish. Purchased in Dec 2005 in Dubai.

http://schonproperties.net/avalondxb/

They keep coming up with excuses for the delays (GFC, Govt) but hey at least they haven't gone bust yet. I've tried for a refund but too hard over there.

My 99 year lease will be 88 by the time its finished haha.

Anyone had a super long off the plan that was actually completed?

 

[pinkboy]

Do you think valuation from purchase price has increased significantly? You haven't paid any extra have you?

That's a long time to stick around for an OTP.

pinkboy

 

[DoobyNuts]

Paid 50k up front and 50k to pay on completion. Probably worth about 150k so not much gain over 9 years. Didn't have a choice but to stick around as developer was not issuing refunds and could get away with it.

So on the plus side I had written it off in my head as a busted developer and total loss but now they seem to be coming good so looks like I will make 100k

 

[antistar]

Are they paying you interest on the $50k? 9 years is a long time!

 

[Jamie M]

I think I must have the record - 9 years so far.

Yep, you're the winner! That's crazy - and no doubt extremely frustrating.

Cheers

Jamie

 

[DoobyNuts]

No I paid 50k upfront and need to come up with 50k upon completion. So no interest paid until I need to borrow the 50k.

 

[TMNT]

You have a big set of kahunas!

I admire you