GCD1 ESCROW ACCOUNT RECEIVED
HI EVERY ONE,
I'M GLAD TO HAVE RECEIVED THE ESCROW ACCOUNT WITH INSTRUCTIONS HOW TO MAKE PAYMENTS I HOPE THIS IS THE END A LONG DARK PERIODE WHICH EVERY INVESTOR IN THIS PROJECT HAD TO LIVE WITH FOR A YEAR OR MORE. BUT THE QUESTION WHICH PAYMENT PLAN WILL BE FOLLOWED?
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GCD1
Dear Abdulrahman,
ARRA confirmed that Star Giga has is not yet registered with ARRA, so the possibility of escrow account does not exist. You might want to check with ARRA or the Bank with the escrow account details you have received from them.
AS QUOTED FROM ONE OF OUR RESPECTED INVESTOR FEED BACK
AS QUOTED FROM ONE OF OUR RESPECTED INVESTOR AND I ACKNOWLEDGE HIM 100% TRUTH...
Seems like STAR Giga is not telling the truth about the current situation and their future plan of the project. Recently, I got hold of Aslam of Star Giga and after many cross questions, he uttered few words of caution and asked to be careful for future installment payments. It seems like that Star Giga already has a plan to get the last penny out from the investors and there after giving the investors with a surprise.
The correct situation is that Star Giga does not have a plan to complete this project & handover, instead they want the investors payments which they will invest in various other projects / financial instuations as well as their other business. Finally, after delay in time (couple of years) by that time they had already capitalized on investors money and will slowly start refunding in small installments which will last for over 5 years (till 2017)
So trust me, do not pay them any more, even with the escrow account as they have the expertize to get the money out of the escrow account.ALSO HAVE TO RESCHEDULE THE PAYMENTS AED@200/ PER S FEET WHICH ARE AVAILABLE IN COMPLETE PROJACTS IN DUBAI.
gold crest dreams.
YES I BELIEVE WHAT YOUR SAYING IS ABSOLUTELY TRUE THAT STAR GIGA HAVE NO INTENTIONS OF COMPLETING THE PROJECT.
IT IS SAD THAT THE UAE GOVERNMENT IS DOING NOTHING WHAT SO EVER TO HELP INVESTORS IN OBTAINGING THERE MONEY BACK OR INVESTIGTIONG STAR GIGA.
I HVE SENT SEVERAL EMAILS AND PHONE MANY TIMES OVER THE PAST 12 MONTHS ,ITS THE SAME LIES ALL THE TIME "WE ARE WAITING FOR AN ESCROW ACCOUNT"THESE PEOPLE HAVE NO SHAME DEPRIVING INNOCENT INVESTOR OF THERE HARD EARNED MONEY!NO OBVIOUSLY ARE VERY WEAK IN FAITH WHICH IS WHY THEY ARE MESSSING INVESTOS AROUND AND NOT OFFERING PEOPLES MONEY BACK OR TELLING THE TRUTH.
WE HAVE 2 APRTMENTS IN GOLDCREST DREAMS 2 AND REGRET THE FACT WE EVER INVESTED THERE .
THE FUNNY THING IS THEY WILL PROBABLY GET AWAY WITH IT ,PEOPLE LIKE THIS SHOULD BE TAUGHT A LESSON AS A CLEAR WARNING TO OTHER DEVELOPERS TRYING TO PLAY THE SAME GAME.
I HOPE AND PRAY TO GOD THAT ALL THE INVESTORS EITHER GET THERE COMPLETED APARTEMENTS OR MONEY BACK IN FULL.THE QUESTION IS WILL THESE CUMPULSIVE LIARS DO EITHER????
I
How do you know they can get money from the escrow
Hi,
You mentioned they have an ingenious way of getting money from an escrow account.
An escrow account is a trust fund and managed by the bank. Please give us
accurate information as people who spread rumours only end up causing panic.
Sort yourselves out!!!!!
Some of you are doing very little to allay investor fears and concerns. Scaremongering and spreading rumours is disgraceful! And bad taste. Useless comments should be barred.
What is the Guarantee with ESCROW account
Just a quick question to all: If you pay through the ESCROW account, what guarantee do you have that the handover of the unit will be done on time as per contract? If the handover of the unit does not take place as per the time schedule specified in the contract, does the Bank having the escrow account guarantee 100% (say,ony principal amount) refund of the investors amount?
Additionally, I agree with Ayesha as mentioned in her post, the prices needs to be reduced as per current market value which is around AED200 per s.ft.