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Tuesday, September 18, 2018 ARCHIVES  |  SEARCH  |  POST ADS  |  ADVERTISE  |  SUBSCRIBE   |  LOGOUT   |  CONTACT US

GDN Reader's View: Flawed argument

Alan Pitt

With regard to the letter ‘Time for action?’, (GDN, September 1): by whom precisely?

Impotent Bystander’s ultimate conclusion is that Marina West off-plan buyers should start considering an action group.

Hello! It’s called Marina West Homebuyers and was formed in April 2010 by the late Hassan Al Husseini.

Hassan inspired us to send hundreds of letters to the local Press and three petitions in Bahrain and Saudi Arabia, all personally submitted.

Later that year Decree 28 of 2013 and Decree 66 of 2013 were created to safeguard the financial interests of both past and future off-plan buyers.

Under Decree 66 of 2013, Marina West came under review by a settlement committee in March 2015, but it has been unable to comply with Article 6 or 8 of this decree.

Resultant difficulties seem to have arisen due to land sales and the developer(s) and their estate(s) retaining full ownership of this derelict site.

Throughout 2018, proactive Marina West off-plan buyers have continued to meet the representative of the settlement committee, also submitting letters.

Impotent Bystander lacks business acumen when demanding the government to fulfil all of his dreams, albeit disregarding its cost to Bahrain’s national budget.

As for getting his 2008 off-plan apartment purchase price back, this is dependent on various economic factors at the time of completion – such as supply and demand.

Also, how does a $750 million project get completed with the finance derived from 85,000sqm of apartment sales plus BD17m from existing buyers?

As for “time for an action group”, class-actions are not permitted in Bahrain.

However, an individual who considers they have been duped over a real estate contract could submit their grievance to the Consumer Protection Directorate.

But then again, not everyone is willing to reveal their name to the authorities!

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