Emirates City Forum

The points raised by the members are absolutely justified, and justice ultimately prevails everywhere in the world (including Ajman). I estimate that the amount of money already invested by ordinary people could buy them in an average an equivalent amount of 1 kilogram to 3 kilogram of gold. This is the reason that the intentions of other wise good people can change. People who otherwise would offer us good friendship and very polite behavior, can change (due to greed ) when there is a huge amount of money in their hands. But they will not run away from justice if they come to know that the investor is not going to give up and will fight for justice. The idea of petition is excellent. We should not be shy in our rights and in our hard earned money. It is time to start to complain jointly in writing to the developers, and send copies to ARRA and police to take necessary steps to resolve the problems. The following points are suggested:

1. Reschedule payment as per the revised completion date. The developer need to accept that if the completion date is revised then the payment schedule is accordingly rescheduled. Any developer who demands money without rescheduling is to be charged for money extortion, and such unlawful blackmail and organized crime needs to be stopped.
2. Further to reschedule of payment, compensation for loss of rental earning due to the delay needs to be considered by ARRA.
3. The developers had the following payment plan in their Reservation Contract (much popularized in leading newspapers).
Payment upto 50 % of the value until the projects completion,
25% upon delivery,
and the remaining 25% after handover.
Now the ESCROW account must strictly enforce this plan, as 50 % payment is supposed to be after completion.
ARRA needs to confirm that this much publicised payment plan was not a scam or a fraud?
4. If infrastructure like electricity is a problem, the issue need to be openly discussed and not hidden from the investors. ARRA can say sorry to the investors, and pay back all the money of the investors.
5. If all of us unfairly keep on paying money to the developers, as if our apartments are getting ready constructed with lakes, flowers, swimming pool , jacuzzi, mall etc. The ground reality of construction does not convince the investors to continue giving money to the developers. Now since ESCROW account is being implemented lets join forward with construction linked payment. No more catchy advertisements and glossy print papers showing beautiful houses can work in EC anymore.
6. The developers should focus on results, milestones and achievements. If there has arisen a big problem in achieving the promises given to the investors at the time of their purchases, then they should not hide the problem. The investors should be suitably compensated for it.