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Dubai: News that approximately half of the Dh7.3 billion Jumeirah Beach Residence (JBR) project will be handed over to buyers later than the scheduled delivery period, has heightened frustration among investors.
Project developers Dubai Properties said in January that the entire project would be completed and delivered between March and May 2007, but according to information obtained by Gulf News, keys to apartments in sectors C and D of the project will be handed to buyers after June.
According to a map of the site, sectors C and D make up approximately half of the overall project and represent the project's main residential zones.
The news comes as a further blow to Cem Pozam, a Turkish national who lives in Dubai and paid Dh1.4 million for a permanent home in JBR.
"I am furious over repeated delays in construction. I am trying to stay positive as much as I can, however it frustrates me more when there is a big lack of transparency," he said, referring to what he called lack of information over the delivery time-table.
Numerous other buyers have contacted Gulf News in recent weeks to voice their frustrations over JBR's delays. Most complained about "lack of information" over the completion schedule, rather than the delay itself.
"I purchased an apartment in May 2003 with a completion date of second quarter 2005. I still don't have a firm date for handover. Living in England makes getting information difficult," said a UK investor.
"I am one of those who has bought an apartment in JBR and due to delays, gone through very difficult time with my family," added a Dubai-based buyer.
Dubai Properties declined to comment on this story.
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