Ajman files cases against absconding developers
check this article in business news
http://www.business24-7.ae/the-business-of-life/crime-law/ajman-files-ca...
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check this article in business news
http://www.business24-7.ae/the-business-of-life/crime-law/ajman-files-ca...
I have my doubts
I have lots of doubts about the ability and wellingness of ARRA and the government of Ajman in doing anything to help investors. However, I will ask all my investors friends to wait and see. There is no need to cheer up about the article. So, don't run and pay. Wait and see if there is any action really taken and any money refunded to investors or is it just an article trying to polish up ARRA and Ajman.
Ajman Investor - Frustrated
By registering cases aganist absconding developers does not help investors. The investors will only have confidence when the contractual obligations are fullfilled or the investor is returned 100% of his amount. If the developer can not refund the investment, then the King of Ajman should finance and ensure return from his wealth because he is equally responsible by allowing the devlopers to operate in Ajman
As an investor, I am totally frustrated with the way the situation is being looked at and handled by the rulers of ajman
Absconding developers
It is just another article to fool investors. Don't be taken in by it. We have to see action first not just one or two, but to deal with each and everyone of them , and returning the investors money then only we can trust their government again
No more investment in Ajman
if they are opening cases against absconding developers and the ones who have failed to fulfil their contractual obligations which it is hard to believe then it concerns to almost all the developers in Ajman.
The problem with the news
The problem with the news published in Emirates Business 24 is that they are not very critical and always paint a rosy picture. If you go by EB 24 everything is fine and under control. In the mean time ARRA has moved to late. When you establish a dead line for registration of a project ( end of May 2009) and by the end of the dead line hardly any developer has registered, you , as an government body, have to move. The move is one year later. This gave criminal developers plenty of time to run away with the money. The established developers, who have their offices either in Ajman or Dubai or elsewhere in the UAE are the only ones they can get a hold of. Since these developers have not run away with the money ( "absconded" as they call it), but probably spent it on running their business, they do not fall under this legislation and they stay unharmed. Even R-Holding, which is the master developer here, has only registered their projects after the dead line. The CEO of R-Holding is the youngest son of the ruler!!!!??? So here you go: a "Banana Republic" as we call this in Europe, corrupt from top to bottom.
Yes the royal family of
Yes the royal family of ajman seem to be lying low with no comments or help for people who have lost so much, you would think they would be embarressed by it.
AJMAN PROJECT EMIRATE CITY
IT IS A TOTAL SHAMBOLIC, SHAMELESS,LAWLESS,ALI BABA land!!!!!!!!!!I would have prefered to buy a camel and some dates!!!!!!!! somewhere.
Who care what is happening in Emirates City NO ONE,
Emirates City
May be they invested our money buying camels for racing and eating dates while watching camel races (Like pop corn watching a movie).
Those F**king guys, rulers of ajman need more money to mak wash rooms for camels in emirates city as they do not have the money to build the infracture for the investors.
Shameless cheaters, God will punish them soon and inshallah in this world in front of us begging for mercey/forgiveness....