Emirates City Forum

:jawdrop: So far, Star GIGA has been saying since last many months that the escrow account is in place, even their registeration with ARRA is still not confirmed. You can check this with ARRA.
They have being saying this since last many months.
Trust the facts on the ground,after receiving around 25-50% or even more from investors, there has been ZERO progress on the ground (refer to ARRA website) which justifies that they are NOT series to start the construction. In fact they do not even reply to our emails, the reception is the lady who makes up the stories for investors and verbally tell this stories to investors -same and same again & again since last many months.
Additionally, even if they have an escrow account, there is no guarantee that you will get the handover in time as per contract or 100% refund of your investment.
My advise, do not pay them any more unless (1) They give a revised reduced price (2) Bank guarantee that the handoverwill take place on or before the date given in the contract else you can claim 100 % refund either through developer or the bank must encash the guarantee (3) Keep their promise of the visa and so on and on..
Remember,the price of ready apartment in ajman is about AED250 per sq,ft.

I received an official email with the escrow account details on may 4th.
I visited Star Giga last week and talking to some PR guy, forgot his name, you realize, you just go round and round in circles. He claimed that construction in GCD2 would resume first and only once they have reached some considerable progress in construction, they'd resume asking for payments into the escrow account. I asked for a price reduction mentioning that ready flats in Ajman with similar amenities were 250 dhs/sqf and he said a reduction in price was not considered for the moment.
I looked the guy from Star Giga deep into the eyes and I said, that I considered my invested money lost, that the master developer will never produce the infrastructure, as the master developer is simply unable to produce it ( the CEO is a young sheikh kid playing big business man and trowing his money around in posh places like Monaco, London and Paris), and that even if they built the project it would be worthless as there wouldn't be any power or water, nor any streets or roads. He then claimed that they have been assured by the Ajman government, that the focus regarding power and water and infrastructure was put onto Emirates City as all the other projects along Emirates Road were put on hold. This is of course not what we are reading in the press, where the Ajman government announces the "waterfront development" and doesn't mention with one word the projects on Emirates Road.
I got out of this meeting saying to myself: I won't pay anything and I will just wait and see what happens. I lost trust in Ajman long ago and I only hope they prove me wrong.
This is really all we can do, everything else will just eat up our nerves.