Emirates City Forum

* Article rank
* 6 Jul 2009
* Business
* The National
Investors receive ARRA support against developer Casamia Star
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ABU DHABI Twenty worried investors from the UK, Canada and the US who arrived 10 days ago at the Dubai office of their developer, Casamia Star, have received support from the Ajman Real Estate Authority (ARRA) to file a criminal case after the owner disappeared. They appointed a lawyer last week to find out about their investment in a tower in Marmooka City, Ajman. Casamia Star divided itself into two companies, a brokerage and a developer, and sold the brokerage in February. The brokerage then cancelled its contract with the developer saying he had stopped paying their commissions. “We went to ARRA because a letter from them is respected and the police would take note of it,” said Amjad Ghulam, one of the investors. The lawyer, Adel al Khadir, said four investors had since filed a criminal case against a person and against the company. “We are now waiting for approval from the public prosecutor.”

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