Dear dxbpearl,

Please accept my apologies for the delay in responding to you, I have just returned from London and came into the office today.

Q. A good initiative no doubt but what is surprising is that after all the marketing done by your company not many people have posted their comments.
A. I am as surprised as you are that our esteemed clients are not making use of this forum.

Q. I am sure whoever has invested in Dubai Pearl is concerned about the project.
A. Please send me any specific concerns that you may have so that I can address them directly.

Q. Some investors have bought commercial full floors at high prices - most of us know each other as we have all met at launches plus we have met at the residential launches so we know who is planning to continue with payments - from what we know most people DO NOT have the money to continue to make payments.
A. We agree that these are indeed tough times. We are working with each and every client to assist them where ever and however possible. I do not think it is appropriate to make comments about other clients. Our relationships with our clients has ensured that our arrears are manageable.

Q. Is the project viable in today's market condition?
A. We are a mixed use development, catering for the whole market. We are creating a sustainable development for the future, and firmly believe that Dubai Pearl will become another one of Dubai’s success stories and will be a very sought after address for residents and investors.

Q. Is our money being used to pay for the huge expenses being incurred by your company in marketing, rents and all other expenses.
A. Dubai Pearl is being funded by an almost equal amount of equity, debt and pre-sales. All payments received from clients are paid into the projects escrow account. All these funds are used only for the development of the Dubai Pearl project exclusively and not for overhead expenses.

Q. The project is long delayed which u are very well aware.
A. To the contrary, the project is well under way, as can be attested to by many of our clients who have taken up our invitation to visit the site personally. I extend an open invitation to you to come and visit the site so that you can see for yourself the progress we have made.

Q. We have started paying in October 2007 and many have paid much before that. All developers claim that excavation is on!!! this is nothing new in the Dubai market.
A. Having purchased in 2007, it means that you have purchased your property in Dubai Pearl for less than our current building cost. We see you as a partner in our business and assure you once again that Habtoor Leighton the main contractor has been on site since the 1st of June and is progressing according to schedule.

Q. Do u really feel there is a single taker for off plan units?
A. We have sold over 90% of the property we have released into the market thus far. Our next release is targeted for 2011, and yes we are confident that the market will respond positively to this.

Q. My friends in UK have bought residential units at exorbitant prices. They have paid 11% - do u think any one of them is going to make further payments?
A. As advised, I do not believe that it is correct to make statements on behalf of others. We like to deal with our clients on a one to one basis to ensure that they receive a tailor made solution to any issue they have. As a note though, I would suggest that if the apartments were priced exorbitantly they would not have been sold. Dubai Pearl is going to deliver one of the best properties available, we will not compromise on quality under any circumstances. Please ask your friends to contact us and we would be happy to try and find a specific solution for any issue they may have.

Q. We dont have a doubt that the project is ICONIC - If Mr. Fahim and other owners of the projects are putting in their own money to continue the Project it is fine.
A. The promoters and investors of Dubai Pearl are making regular capital injections into the project. Please remember that you are an investor in the Dubai Pearl family and as such we will deliver to you what you have purchased.

Q. We are a group of friends living in UK who have paid for a floor in South Tower. We are in no position to pay further.
A. As advised, we are always willing to meet with our clients to find solutions

Q. Why dont we have an open meeting with all investors so it becomes clear who all want to continue making payments and who don’t or can’t.
A. As advised above, we meet with our clients on a one to one basis in order to find specific solutions for their specific needs where ever possible.

Regards

Santhosh Joseph
President & C.E.O