Emirates City Forum

Just to notify the investers the mis identity of a project by hari, i think what you've seen on the ARRA web site is not about GCD2 but it is about GCD1. I don't think if the've ever started GCD2 let alone any completion.

Thankyou for the email,

Good to hear that finally an account has been setup but yes, there are few questions may be more important than this ascrow account should be answered.

1: Construction?
2: Rental Guarantee?
3: Visa?
4: Completion date?
5: Value/Price (amount)

I guess all these are very important question for all the investors abroad paying for these projects, especially no. 2 and 3, I signed the contract on the basis of these two fascilities, If they are not anymore considered then its a breach of contract and it no longer is valid. Hope you will answer all the questions in necessary detail.

Regards

Faraz Zafar

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From: gcv2@stargiga.ae
To: farazzafar@hotmail.com
Subject: Goldcrest Dreams 2 - Escrow Account Details
Date: Tue, 4 May 2010 14:48:42 +0400

Star Giga Establishment Limited
Goldcrest Dreams 2

Star Giga House, Office#3 - Mezzanine floor, Next to Oasis Centre, Sh. Zayed Road, Dubai, United Arab Emirates

PO Box: 29193 | Phone: +9714-330-7640 | Fax: +9714-330-7641 | Web: www.stargiga.ae | Email: crm@stargiga.ae

Mr. Faraz Zafar
EIN Ref: 4900
Email: farazzafar@hotmail.com
Not Avalaible, Not Avalaible

Dear valued customer:

We are pleased to announce that we’ve opened an escrow account with Ajman Bank for our project Goldcrest Dreams 2. Please be advised that all future payments for units in this project must be made in favor of this account.

We give here the details of the account:

Note that there is a separate account number for each tower in the project that is tower, ‘1’, ‘2’, or ‘3’ and therefore you must take specific care when specifying account name and number – it should be according to the tower in which your unit is located.

Account Name:
Tower 1:
GOLD CREST DREAMS 2 TOWER 1-STAR

Tower 2:
GOLD CREST DREAMS 2 TOWER 2-STAR

Tower 3:
GOLD CREST DREAMS 2 TOWER 3-STAR

Account Number:
Tower 1
Tower 2
Tower 3

11010243011
11010252010
11010255017

Bank Name:
Ajman Bank

Bank Address:
Ajman Bank PJSC

Khalifa Branch

PO Box No.: 7770

Ajman, United Arab Emirates

Telephone: +971-6-7479999

Swift Code:
AJMNAEAJ

It’s important that all payments must be traceable to their respective owners and units so as to avoid any confusion and therefore based on the mode-of-payment you must follow specific instructions whilst making payments.

A) If you’re making payments through a telegraphic transfer then you must specify ‘the Customer Name’ and ‘the Unit Number’ in remarks or details section.

B) If you’re making payments through cheque then you must specify ‘the Customer Name’ and ‘the Unit Number’ at the reverse of the cheque.

® Additionally, you must also specify the escrow account name and number at the reverse of the cheque.

C) If you’re making cash payments then you must specify ‘the Customer Name’ and ‘the Unit Number’ on the deposit slip.

If there are any queries that still need our notice; you may contact us at the details given above.

Thanking you

Sincerely – the customer support team.

I have also received the same email saying for GCD2 escrow has been opened.
The ARRA website still has not included GCD2. What is put up on the website as GCD A , B, C & D refers to Towers of GCD1 . Because the escrow a/c no. mentioned there don't match up to what I have received in the email yesterday for GCD2.
ARRA had to add GCD2 on their list.
Again the agonizing question for everyone now is WHAT NEXT? CONTINUE PAYMENT OR NOT? All members please come forward with your views.

24 hrs gone, I guess offices must have been close in UAE by now cause its 1500 pm in UK, So we can start counting, Day 1 - No Answer