Emirates City Forum

Dear Ajman's investors... It is very clear that we are being kept hostages in the hands of developers. They can cancel our contracts and keep the money. The only reason they are not doing this is the fact that they can't sell the buildings even for the remaining amount that we still have to pay them. Let's face it, because you are humble nice people, doesn't mean the developers are going to treat you accordingly. Believe me, if they can sell your units for 50% of the price you purchased them fpr, they will cancel your contracts and sell your units without merrcy.
Friends.. don't also believe swapping and replacement and all that stuff. It is just another dirty way to get money out of you. You may try it, you will find that they are asking for a higher price than the market price and then discount the amount you already paid to get to a price that is actually equivelent to the purchase price of today. Therefore, they actually are taking your already paid money and also selling you an apartment you didn't want to buy at the current purchase price.
Friends, the only way to deal with Ajman's developers is to STOP payment completly and write to ARRA demanding government guarnttees for your investment. If Ajman government is not welling to guarntee or at least put the legeslations that protect our investment, then we are in big truble and we shouldn't pay any more. This plan will succeed if it is done by a large number of investors.
Try at the beginning to write to ARRA with the details of your units and your worries with the developer and tell ARRA that you invested in Ajman trusting that its government will do everything possible to protect your investment and Ajman's reputation and that you have decided to stop payment untill proper legislations are in place to protect your investment.
Friends... depending on your reaction to this and your ideas and suggestion, I will write more detailed plan.