Emirates City Forum

What I understand is that ARRA is just a tool developed by Ajman ruler to bring some confidence in Ajman Real estate and to attract investors for further investment . In bit harsh word just a puppet . They have no authority whatsoever to decide on refund etc. . And one more thing to know is that the major part of the money we all have invested has gone to Ajman rulers ( they have sold desert for billions to Dhs to developers ) and untill they refund the money they have got from developers , I don't see any chance of getting our money back untill we take some collective action.STAR GIGGA HAS NO MONEY TO PAY BACK TO US . The money Star got form us for investing in GCD projects they have invested that money in some other projects in Dubai expecting to make 3-4 times more profit but everything went for toss due to this recession.

Only thing we can do is to stop all payments and wait for July 2011. That is when I think we should collectively go to Start gigga and ask out money back as they would be bearching all clauses in the contract by that time . Also , in no way they can honor the extended delivery date they have given to us under Force Majure clause .( end of 2011). Let me know what you all think .