Does everyone have to do this ? Pay 2050 for regestration ?
Dear Valued Customer,
We are pleased to inform you that the direction of UAE Federal Government & Ajman Government laws Al-Furqan Real Estate has been registered in Ajman Real Estate Regulatory Agency ( ARRA ) and Escrow ( Trust ) account is ready to operate in Ajman Bank very soon.
Please be informed that registration in ARRA is done after detailed audits, consultant's report and clients complete data information which is now on record with ARRA. ( Copy of registration letter and its translation attached ).
For your kind information the brief introduction of Escrow ( Trust ) account and its mechanism of working has been send to you in previous emails.
Now the time has come that we are planning to restart construction very soon.
To establish your account under Escrow rules and regulations you are required to send us an amount of AED.2,050/- per apartment as soon as possible that we may processed further documentation with Ajman Bank.
An early action will be highly appreciated.
Thanks & Regards,
Al-Furqan Real Estate LLC
i just called arra and they
i just called arra and they said this is not right ant they asked me to farward the email and i did
please send to deya.t@arra.ae
all info is correct but the fee is to be paid by him not us
thanks
thanks for the info,hope consruction starts soon
Bogus claim: Midday robbery!
I bought two units from Chapal and when they opened ESCROW account, they never asked me or anybody else, as far as my knowledge is concerned, to pay anything extra for opening that account. Nor have I heard any investor from other Developers to have been asked to pay such fee. YOUR developer is the FIRST and only one I hear to ask their investors to pay such fee. Robbery! Just, midday, robbery!
After the email i sent i got
After the email i sent i got back an sms and an email from alfurqan
SMS
Dear Mr Abu Bakir thanks for sms the fee we are collecting from our customer to maintain the Escrow Account & registration of ARRA we already paid them 250 T and for Escrow A/C 600 T. We R not making any profit. What you paid in A/C of ur apartment we given all the details to ARRA. The Escrow & ARRA they R benefit to u & others investor. I hope we will solve all our problems soon.
EMAIL
Dear Valued Customer,
As per your mail we are going to explain you the fee we are collecting from our customers is only for maintaining Escrow account and registration of ARRA, we have already paid AED.250,000/- ( Dirham Two Hundred Fifty Thousand Only ) to ARRA as registration fees ( Copy of Payments attached ) and further we are going to Pay AED.600,000/- ( Dirham Six Hundred Thousand only ) to Ajman Bank to maintain the Escrow a/c.
The Escrow and ARRA both are benefit for you and other investors,
We hope you will understand the situation,and very soon we are going to solve all problems with your co-operation.
Thanks & Regards
Al Furqan Real Estate
http://alfurqan-re.com
ARRA Payment 1.JPG
ARRA Payment 2.JPG
This is scary. Did you get
This is scary. Did you get an e-mail from ARRA concerning this?
Fees
Holy....... 600000 service fee for escrow account !!!!! No wonder there is no construction...They are all broke.....
Ridiculous!
Salaam
This is very ridiculous. After years of delay, is that really what they say??? Asking us for more money? even before resuming construction?.....
Thank you for sharing this with us
Dear Abu Baker
Thank you for sharing the information with us. I have not received such an email yet. But if I receive my answer is rather obvious. I won't pay them till the project goes ahead to at least 40% of its completion. and even then I won't pay what they asked as registration & escrow A/C fees. Those are to be paid by developers not investors. And as far as I know, this is the first time that a developer asks the investors to pay for ARRA registration.
no....never!....that's my answer.
If they want to change the contract....
If they want to change the contract and ask for more money for any reason. Then we have the right to ask them for reducing the fees due to the lower construction expenses after global economic downturn. They are going to build the towers according to a new contract with a new contractor. Definitely they are going to pay less to the new contractor than the previous one as the prices are lower now.