DON'T PAY YOUR INSTALLMENTS
COME ON GUYS
ARE YOU STILL MAKING YOUR INSTALLMENTS PAYMENTS???????
I SPOKE TO A LAWYER ABOUT IT AND HE TOLD ME IN AJMAN THEY ARE NOT DOING THE CONSTRUCTION ACCORDING TO THE CONTRACTS SO THEY CAN NOT DO ANYTHINGH,THEY CAN NOT TAKE YOU OUT FROM THE VILLA OR APARTMENT YOU BOUGHT IF U DON'T PAY.
SO PLEASE GUYS DON'T PAY A PENNY UNTIL THE PROJECT IS COMPLETED,ANY PROJECT IN AJMAN.
KEEP YOUR INSTALLMENT IN A BANK IN DUBAI OR AJMAN AND SHOW THEM THE BALLANCE SHEET AND TELL THEM WHEN YOU GIVE ME THE KEYS I WILL TRANSFER YOUR MONEY,DON'T GO ON THIS ESCROW ACCOUNT.THEY CAN NOT DO ANYTHINGH BELIEVE IT.
Copyright © 2007-2011 Emirates City Forum
After visiting the
After visiting the offices
After visiting the offices of R Holding regarding my investments with Sweethomes in Emirates City Rainbow Towers this February the following news was relayed to me as an update.
1. There is no set start or ending date of the main infrastructure e.g. roads, shopping Malls, Mosque, Office Blocks etc
2. There is no set start or ending date for the main utilities e.g. Electricity, sewage, waters etc
3. There will be NO Lake in Emirates City anymore due to problems with water becoming Toxic in Dubai projects. (although I paid so much extra money for a Lake View apartment.)
4. It is possible that Emirates City may be finished in Phase's in the next decade so shall remain a building site for many years to come.
5. There is no possibility for a price adjustment from 500-600 Dhs to today's market rate of 200 Dhs per sq ft.
6. His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman's Municipality. is the Sole person behind this project and is the Sole Owner of R Holdings which guaranteed investors to come to Ajman and invest money and it is R Holdings that are solely responsible for all the main infrastructure in Ajman.
7. The developers are now collecting money as per the New Amiri Decree passed last year on construction linked payments by ARRA ( His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman's Municipality) and shall be paid out as per completion of building but this does not take into account that there shall be no roads, lights, shopping mall etc there, so we shall be left with a completed project in the middle of the desert!
I was given an email address to write to His Highness Sheikh Rashid bin Humaid Al Nuaimi with my concerns and I urge you all to write to His Highness Sheikh Rashid bin Humaid Al Nuaimi with your concerns and put pressure on the developers to re adjust the prices in Ajman, to stop threatening demand for money, to pay compensation for delays, and to cancel those affected by the changes in the master plan if they wish to exit and link the Escrow accounts payments to the overall master plan project completion rather then individual buildings as we were sold a Building in Emirates City and not the Desert with no power, water and sewage.
In my view most developers shall complete the buildings to 90% and receive 90% of the funds from escrow accounts then take of with our money leaving us with incomplete buildings with no utilities and infrastructure as there shall only then be 10% balance left to pay on completion. In this way the developers are in 50% profit and have no interest in our investment. The Government need to take a guarantee from developers and hold on to there passports or a big financial deposit to make sure they are still around until the full main project is completed including the main infrastructure.
It was the sole duty of R Holdings to check the compatability of the Lake and feasibility of the overall project before selling and launching the project, any change in the master plan shall void all contracts under the trade and descriptions act.
Please note the below email address is to Shk Rashid personal office, please refrain from any bad language and only write if you have something of value to say. The better the statement on your email the more serious it shall be taken to the Shk himself,if abuse is received I am sure they shall close down this email address and we shall all loose out this channel of communication.
The email address you should all write to is: aoa@rholding.com
After visiting the
After visiting the offices
After visiting the offices of R Holding regarding my investments with Sweethomes in Emirates City Rainbow Towers this February the following news was relayed to me as an update.
1. There is no set start or ending date of the main infrastructure e.g. roads, shopping Malls, Mosque, Office Blocks etc
2. There is no set start or ending date for the main utilities e.g. Electricity, sewage, waters etc
3. There will be NO Lake in Emirates City anymore due to problems with water becoming Toxic in Dubai projects. (although I paid so much extra money for a Lake View apartment.)
4. It is possible that Emirates City may be finished in Phase's in the next decade so shall remain a building site for many years to come.
5. There is no possibility for a price adjustment from 500-600 Dhs to today's market rate of 200 Dhs per sq ft.
6. His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman's Municipality. is the Sole person behind this project and is the Sole Owner of R Holdings which guaranteed investors to come to Ajman and invest money and it is R Holdings that are solely responsible for all the main infrastructure in Ajman.
7. The developers are now collecting money as per the New Amiri Decree passed last year on construction linked payments by ARRA ( His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman's Municipality) and shall be paid out as per completion of building but this does not take into account that there shall be no roads, lights, shopping mall etc there, so we shall be left with a completed project in the middle of the desert!
I was given an email address to write to His Highness Sheikh Rashid bin Humaid Al Nuaimi with my concerns and I urge you all to write to His Highness Sheikh Rashid bin Humaid Al Nuaimi with your concerns and put pressure on the developers to re adjust the prices in Ajman, to stop threatening demand for money, to pay compensation for delays, and to cancel those affected by the changes in the master plan if they wish to exit and link the Escrow accounts payments to the overall master plan project completion rather then individual buildings as we were sold a Building in Emirates City and not the Desert with no power, water and sewage.
In my view most developers shall complete the buildings to 90% and receive 90% of the funds from escrow accounts then take of with our money leaving us with incomplete buildings with no utilities and infrastructure as there shall only then be 10% balance left to pay on completion. In this way the developers are in 50% profit and have no interest in our investment. The Government need to take a guarantee from developers and hold on to there passports or a big financial deposit to make sure they are still around until the full main project is completed including the main infrastructure.
It was the sole duty of R Holdings to check the compatability of the Lake and feasibility of the overall project before selling and launching the project, any change in the master plan shall void all contracts under the trade and descriptions act.
Please note the below email address is to Shk Rashid personal office, please refrain from any bad language and only write if you have something of value to say. The better the statement on your email the more serious it shall be taken to the Shk himself,if abuse is received I am sure they shall close down this email address and we shall all loose out this channel of communication.
The email address you should all write to is: aoa@rholding.com
Guy's don't give up please
Guy's don't give up please send email's to Shk Hamid express your concern's, he is a nice man but I think kept a bit in the Dark by his junior staff so they don't look bad say Your Highness all is WELL!
Bombard them with emails and say that we feel that R Holdings are defaulting our contracts and major changes in the infrastructure is a breach of our contracts as we were shown a whole city etc etc and not even basic electricity is being supplied. Sweethomes have done another swindle by linking the construction link payments to only the brick work shell and want 90% of the money by the time they reach the top floor without even completing the interiour work so my suspicion is that they shall skip the country back to Pakistan and leave a shell for us to complete once they got there money!
DONT PAY ANY MORE !! HOW MANY CAN THEY TAKE TO COURT AND DEFAULT!