Emiratescity tower D15
I have some bad news for investors of emiratescity tower. This project is being CANCELED!!!!!
They will offer to exchange to other projects.....This is according to midex real estate..I was also informed by midex that arra guidelines on cancellation of contracts will be published soon...Cross your fingers!!!!
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Emiratescity tower
Just a reminder: In this time of distrust, to make more payments without a solid guarantee is foolish..
Hi akhiabani, I am also yet
Hi akhiabani,
I am also yet 1 more unlucky investor of ECT. For all members of D15, lets communicate effectively to save our sinking invested. Here i read that you people have been offered an exchange with MR Tower, is it correct?
In first place, did they placed their offer by phone or properly emailed you b'coz i haven't got anything from them by email since a long long time.
Secondly, is MR tower the only tower as option available for exchange 'n how you people rate this exhange?
If you people aren't happy then we must unite quickly to hire a lawyer, who will handle our case further i am sure they will find some solution/exit way.
My email add is mack_khan3@hotmail.com
Kindly mail me all of the ECT Investors to form a mailing group to daily inform each other with updates.
Thanks
Emiratescity tower
Another reminder; This is a registered project with escrow account....
Mirage
It is becoming more obvious that left half of emirates city will be mirage....And the right half only the time will tell......
D15
More detail; Exchange offer from midex is to MR tower...Personally I think MR tower is a joke, and we should get a full refund...
what does the contract say?
i had got the same offer to shift from emirates city tower to MR tower because ECT is cancelled. what does the contract with midex say in case if the developer cancels?
i think i have to check out when i reach back home
ect d15
I got the same offer to exchange to MR tower. I told Mr Naizi GM Midex i want my money back, he said they had no money.
i think it is time to get a forum and get advice from a attorney.
D15
This has to go to a court of law.. We are entitled to full refund plus interest..
D15
I don't have a contract from midex, only the reservation form..... In any case if a developer cancels the project investors are entitled to a full refund... This will be a good case to see how much they have in their escrow account...
To pay more would be foolish
Also check the laws (so called rules if they exist). Just my assumption, In case of cancellation of Project, the devloper has not fullfilled his committemnt as per contract and on cancellation, the developer offically confirms that he can not fullfill the and handover as per contract.
In caseof cancellation, the developer must return 100% of investors money + interest & penalty as applicable per contract for holding the investors money.
To shift (exchange) to another project would not be wise as then you will have to start payment and at a higher price. The current market situation is around AED200 per sq. ft for ready apartment. The wise thing to do is to ask for refund and if interested, buy a ready apartment at half the price, if still interested to invest in ajman which I would not recommend.
D15
I agree with you 100%....Full refund and not a single derham more investment in uae. This has been an awful experience, but also a very good learning one too...
Please help.
How much is the per sq/ft is offered by MR Tower if anyone want to swap with them , any information please.
Regards
D15
Escrow account is a joke...They have no money in there... Bsel is also being offered as an alternative choice to MR tower... Time to talk to arra and attorneys...
construction update of rainbow tower B15
what is going on with swet homes they are realy desperate for a clean up opperation of the walet of investers!!!are they raely living on a dream land?
rainbow tower B15
please up date me as what is going on to this project
rainbow
I don't follow this project.. Mr. dwarish may have more info on this.I have the link to their site.
http://sweethomesuae.com/Sweet_Content/Archieves.aspx?Towerid=16&MenID=2
Government Agency
Who is in charge of setting up the escrow accounts? Arra or Ajman bank? Apparently no one... What is the point of the escrow account when my deposits for midex from the united bank never showed up in the escrow account in the ajman bank?
Stewart family
Would you like to trade one of your mobile homes to a very posh apt. in emiratescity tower?
Akhiabani
Contact me by email. I have some astonishing things to tell regarding ECT.
Ect
Please check your pm and email.
Dubai Real Estate
Products and services provided by different companies and businesses are definitely of some advantage to people of this world but they sometimes turn harmful for the environment. UAE in the last decade the world has witnessed a substantial increase in the number of construction process in the gulf and this increases s all the more visible in UAE.
http://www.bayut.com/developments.html
D14 Pearl Tower
Hi
any news reg. D14 Pearl tower ? Pl. contact me if the investors of pearl tower are planning to move the court of law. Mr. Abraham waiting for ur valuable suggestion.
PLEASE DONT PAY PLEASEEEEEEEEEEEEEEEEEEE
HELLO MY FRIENDS
APARTMENTS IN AJMAN ARE FALLLLLLLLING DOWN
CHECK YOURS REMAINING BALANCE TO PAY IN EMIRATES CITY AND YOU WILL SEE THAT U CAN BUY A READY APARTMENT IN AJMAN WITH THAT REMAINING AMOUNT THAT U HAVE TO PAY.
FORGET ABOUT YOUR PROJECT.DON'T PAY A PENNY MORE TO THIS GUYS
I STILL HAVE TO PAY 308.000 FOR ONE BEDROOM APARTMENT AND GUYS, ONE BEDROOM APARTMENTS WE CAN FIND IN AJMAN FOR 185.000, HELLOOOOOOOOOOOOOO, I CAN BUY TWO WITH THE REMAINING AMOUNT.
WITH MARKET PRICE,I HAVE ALLREADY PAID MY APARTMENT,LOL