impact ARRA chairman fired
hi guys,
what you people say about the impact on emirates city and its investors by firing ARRA chairman......mr. barguthi seems like one unqualified person fooled us from last 2 years now another new one is on its way ..............coming ...will do his duty trying to fool investors try to get more money from them by imposing stupid rules..
what i get from ARRA is the only complain number......they are sitting there only to issue numbers nothing else.....when i visited them it was seems like i disturbed them talking gossips over phone......enjoying their tea..... why they are not taking practical steps ......
if they are not capable enough to take any actions in favor of investors......then whats the reason to create ARRA ??????????
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arra is backing developers!!
@ william 9939: you are totally right, i had the same feeling about arra, they are just backing those thieves developers!!
Drinking tea
To william_9939: when I went to ARRA I had exactly the same impression, that I disturbed them, that they have no clue on what is going on in real estate in Ajman. Unfortunately it proved again to me that wherever you deal with Emiratis in the UAE you are confronted with incapable people. They get these government jobs because they are nationals, but they get nothing accomplished because they don't know how to work. This is why in the private sector there are hardly any Emiratis working. As long as one of them is at the head of ARRA, nothing will be done, for them it's all about getting paid by the government for doing nothing.
Arra
Arra is just a puppet for Rholding regardless of who is in charge of it.
Game Over
Friends
Let's face it. The Game is Over. Weither developers build or not, this doesn't matter any more. You should realise that prices of ready properties in Ajman is now less than 40% of your property purchase price. That is if and only if your property is built and handed over to you at all.
To make this clear I will assume that you continue payment for your AED300,000 apartment. And will assume you have a good developer who finishes construction and you really receives your apartment. Then, you will be able to sell it for at most AED100,000.
Then why pay at all!!
ARRA is an instrunment created by Ajman's rulers for their own benefits. You know that they are the owners of all developments land in Ajman, and they are also the master developers, therefore they want investors to continue payment to developers so they also receive their share of the land price. Of course, they will be more happy if these developments in Ajman are realized, but they don't care actually if indvidual investors loose their money or if they pay more than they should.
The only advice I can give is to stop payment completly and if requested to pay say that you will pay upon completion and hand over of your property and give arguments for that which are: delay in construction, economic crises, decrease of
real estate prices.uncertainity of the completion, uncertainity of the completion of utilitues like roads and electricity and services...etc.
This way, you give yourself a chance to look at the matter when(and if) the building is completed at all and you do your math to see if there is any advantage of paying or not. May be you will find it cheaper to buy another apartment.
It is already now "cheaper"
It is already now "cheaper" to buy a ready apartment if you really insist in owning an apartment in Ajman. Also, if your development happened to be finished in EC. Would you like to be there? I wouldn't, there is nothing and there will be nothing for decades to come if ever. Ajman has no cash to build any infrastructure there and there are many places in Dubai which come close to our 2007 Ajman prices and they are in Dubai and in a pleasant environment. No, Ajman was a dream and it will NOT come true.