Just spoke to ARRA customer service regarding Lake View, ARRA confirmed that they are still waiting for Project innovation and description papers in order To give them approval. They said they still have until May 1st to submit these papers, otherwise, legal advisors on both sides need to come up with some form of resolution.
I called Lakeview and they said that they have been approved and that every investor will receive an e-mail with all the details of registration and escrow account by next week.
my two derhams, if you must pay and want to continue with this investment, ask for the following:
1- ask your developer to somehow compensate you for encounterd delays so far.
2- revised payment plan that reflects construction progress.
3- make sure to list the infrastructure in your contract. the last thing you want is them giving you an appartment with no sewerage or electricity. i.e. electricity issue in emarites city is of huge concern.
Personally, I wouldnt pay a derham, even if they open ten escrow accounts.
I don't believe a word lake view people say. I would advise investors to call directly ARRA on Sunday and find out.They have asked me to call on Sunday to follow up on my complain against them. The point is that they want to give all the developers even last minutes to register with them.Please don't waste ur time to call LAKE VIEW but call ARRA on Sunday.
I called lake view real estate today. They told me they are in the final negotiations with ARRA and are expecting their certificate of registration with ARRA soon. They told me the escrow account should be up and running in May. When I asked for a precise date they said within 2 weeks.
Today during our visit to Lakeview Office we came to know the following:
1) The contract for LVT1/2/3 has been awarded to Al Batha Real Estate LLC. They will take care of everything including approvals and updating the investors. Contact person is Mr Abubakr Abuzeid ( Finance Manager ). Contract is signed by Mr Aman Qureshi on date 12 May 09.
2) Registration with ARRA is in the final stages.
3) Lakeview is shifting their office to new location in Sheikh Zayed Rd.......details will be communicated to investors.
4) Work on site will resume soon.........Mr Abubakr will give schedule in 2-3 days. 18 months is the time allocated for building completion.
5) Those who have flats in LVT4/5 will be offered an exchange in LVT1/2/3.
So hope for the best and pray to GOD. Now we have to fight for the infrastructure.
I don't know about others but for me exchanging my unit in LVT4 to LVT1,2 &3 is totally unacceptable.I bought my apartment in this particular tower because of its close proximity to shopping mall .So they better fulfill their obligation and build that tower.Till now situation is not very bleak because of lack of transperancy. I was hoping a lot from ARRA but they have failed us as well.
You are right, when i bought my apt in LV4 it was for the same purpose, close to the mall, and if they failed to start it is not our mistake, so what about if we refuse to have an apt in another towers, what will happen?
yes, if a developer can not make a building he must return investors money with intrest and penalty he can not pressurise to change a building.. he can not presserise even change the floow or another apartment in same floor too..i have experience of same situation in dubai developer damac, i have apartment in their dubailand project they want to cancel that project so offering us another apartment in any of their other finished building at same price, but my lawyer suggested to wait few more months, if they cancel the project they must return money with penalty..no need to take pressure and do as per their wish..
they dont have any leagal right to change your apartment until and unless you are agree for it.. and why you wiill be agree when you have chance to get your money back
I add my voice to you, i am not convinced to change my apartment in LV4 to another tower, so i beleive we have to wait till they get the final decision then we can take action accordingly.
we all are here for sharing information with each other. so no need for any thanks..we are in same boat in this difficult time when developer are finding ways to keep our money by any way..but its good for you that if developer decides not to build the building and if he is not bankrupt or fly away then you will surely get your money back. i am doing same at my dubai project with damac , they are calling me once in every fortnight and asking me to change apartment and also threatening if they build my building there wont be anything surround but myself and about 10 other investors in same building refused stateaway and we are just waiting for their official cancellation notice so we can go to court to take our money back. as market is down at this moment so get a chance to get our money back is very good option ( best option ) for us. i wish you best of luck and will inform you about our next steps in dubai apartment
Dear Nabil,
It's good to know that other investors agree with me .If u want to discuss the situation further, you r most welcome to contact me on this number 050 6218500.
Regards,
enzo
I have been an investor with LV for about a year now. More specifically LV. To make things worse, I own a a whole Floor.
I just received a tip from one of my agents that they have decided not to build LV 4 and 5. Yes, my dear friends. They have cancelled it but i dont think they will tell their investors, as people are still making payments.
Your concerns are genuine and i believe this company is running a scam operation by taking money from its investors with no intention of building the towers. You are absolutely right when you say they dont return calls, and the senior management is always no where to be found. I believe Mr. Aman Qureshi has already run away as he is never in the office. We really need to do something about this.
I just talked to someone at ARRA, and his exact words were "To tell you the truth, We are having a lot of problems with this company". Apparently, they have not submitted all the documents for them to be approved, and no escrow account is being given to them right now. Not till all the documents have been submitted. He also insisted that i come visit the ARRA office. I dont live in dubai, so its not that easy for me to just visit ARRA. However, i am reaching Dubai on the 1st of June 2009, and definately visit LV and ARRA a day or two after i arrive. You are more than welcome to join me. Actually I insisit that you do.
I am hoping to meet some or all of you, if time permits and if you are okay with it. I really think we should get together and do something about this. i have invested a considerable amount of money with LV and frankly i would very much like to get it back.
I have also heard that some people have filed an official complaint regarding LV as people are very concerned at this point.
I will only be in town for a week, and thats my sole purpose of the trip .. to do something concrete about this issue. When i say do something concrete, i mean file an official complaint, consult lawyers & other investors.
If you are interested. Please let me know. You can email me at lakeviewscam@gmail.com or you can message me here.. if for some reason you are unable to meet, you can email me the problems you have been having with LV. We need to stand together and fight. I think if we go in with large numbers, we can do anything. Imagine.... hundreds of people filing a complaint against the company in a matter of days... we'll get their attention.
If you are out of the country.. please send me your contact information. Maybe you can file a complaint from overseas. Ill see what the procedure is, and maybe we can do it by fax/scanned docs via email or something...
Dont believe anything LV tells you. Theyre bunch of liars. i have been dealing with them for over a year, and everything they say is just a way of delaying things.
I will be in Dubai from June 1st - June 9th. I am planning on arranging a meet on the 3rd. So whos with me?
I am trying to reach as many people as possible. so if you know any LV investors for LV 1, 2, 3, 4, 5. Please forward this to them. And give them my information. If you have a list of investors already, i would appreciate it if you could send it to me.
Once again. we can only get our money back, if we are together. We need to be together.
Hi, me and my brothers are invested in lake view 2 years ago, we paid alot of money, but we did stop to pay, we called ARRA yesterday, and spoke with a lady AYSHA, she told us that arra did an action against lake view because they never submited required documenta, and she advice us to call them back next 2 weeks, if nothing happened..then we go to ajman and go to arra straight away with a lawyer, then arra will give us a support letter to the court in Ajman.
Normally we called lake view twice a week, last time they told us that lake view is managing by a new company names ALBATHAREALESTATE, and they gave us a mobile number to some one from that new company, his name is Abu Bakir, and he is always saying that he had a meeting with arra and there not problem,
We dont know what shall we do, lake view told us they can not refund our money.
Dear All..
please be informed that lake view has closed down all their offices and none of their number is working. If any body has any information about it can you please call me as i am really stressed out. 0509505983. i have tried to contact Sohail, riyaz their office,,,,zulekha no one is answering the call................................................................
Hello Junaid, they have moved to 19th floor, white crown building, near fairmont hotel,sheikh zahid road phone 00971043328819. On thursdays they close at 3pm. Please when you go, brief uswhat happened. Thanks
Iam one of the investor since 2007 in lakeview 2 tower and paid more that 60% of the total payment, i went to ARRA yesturday and they told me Lakeview real state failed to register and open the escrew account, ARRA customer service told me to apply for a letter from them and take it to the Ajman Court to complain against them.
Did anyone recieve the supporting letter from ARRA and submit it to the Court???did anyone hire a lawyer or willing to do so?
I think if we can hire one lawyer for all of us we can build a strong case with acceptable fees! kindly advise??
We must cooperate.
Mahmood-sadiq and DigitalDNA are right.
We are with 8 Belgian investors and have together 16 Units and 10 parkings.
We want cooperate also our recover money.
Do you no someone who can treat this on the spot. I live in Belgium and cannot this on the spot regulate.
lake view
Lake view did pay the fee to ARRA, but they are still in progress with ARRA, and they are still not registered with ARRA, some ducuments are reguired by ARRA, but lake view not submitted yet...i dont know why, it means Lake view still got no escrow account at all....
Lake view never answering every ones email, they are no bother about investors...
Dear All Investor, sorry its a bad news for us in TheNational.ae news paper has mention this News on 05 Sep2009
Developer faces fraud charge
Nathalie Gillet
* Last Updated: September 05. 2009 11:05PM UAE / September 5. 2009 7:05PM GMT
The chief executive of Lake View Real Estate, the property developer behind a five-tower project in Ajman, has been arrested on suspicion of fraud, Dubai Police have confirmed.
Up to 30 investors in the project in Emirates City, Ajman, lodged police complaints against AQ, an Indian national, claiming to have lost track of him at the beginning of the year, when work on the towers apparently came to a virtual stop. AQ was arrested on August 24 at the Rifaa police station in Dubai after a criminal case was filed against him.
“This person has been transferred to the Central jail,” said a source at the Rifaa station, who also confirmed the case number.
An officer at Central confirmed that he had been detained and was accused of fraud. “The case is being investigated by Al Rifaa police station,” he added. The case was filed in Dubai and not Ajman, as the company was registered in the city.
Although the project was launched in 2007, and many clients have already paid more than 40 per cent of the total cost of their apartments, construction has not started on any of the buildings. Only piling works have been completed on towers one and two, a Lake View employee said.
The first of the five 21-storey towers was scheduled for completion in the summer and the second this month, according to the contracts.
“When I visited the project site in March 2009 I was shocked because I found that nothing was done at all, despite regular paying of the finance,” said Salah al Din Arif, an investor who bought a flat in August 2007 that had been due for completion in November this year. Mr Arif said he had paid more than 40 per cent of his property’s price.
The company also cashed post-dated cheques, investors said, although developers are required by law to register with the Ajman Real-estate Regulatory Agency and open an escrow account before cashing payments.
The National has copies of a cashed cheque and of a letter of “apology” from the company to the bank.
“They apologised to the bank for cashing my cheque in May but they never gave me my money back,” said Mr Arif.
A Russian investor who complained to the police said he had booked a floor in a non-existent project and paid a booking charge of 10 per cent. “In September 2008, I was told by Lake View Real Estate that there would be two more pre-launch projects in Eye of Ajman, in addition to the other five towers. They said it was called Lake View Twin Towers.”
The following January, said the Russian, he had been promised a refund “as they were planning to cancel the Lake View Twin Towers”. He said he never got his Dh418,000 (US$114,000) back and went to the police five months ago.
Optimum Foundation Company, which was completing piling work on the two towers, has also chosen to file a case against AQ. “Our work on the second tower has had to stop, because we needed the money from [Lake View Real Estate],” said an executive of the company.
AQ is expected to appear before court in Dubai later this month.
Arif,
Why you think arrest and put a crook like AQ behind bars are bad news?!!.
It is strange that many investors complaining in both cases, if laws not applied or applied!!.
Its a very good example set by Dubai police and we must congratulate them, Hope the same way Ajman authorities will also act and days are not far for other crooks to go behind the bar.
This action must put lots of pressure on other developers that either perform and respect the contract or ready for punishment.
I think since the fraud and misrepresentation in advertising and step by step ploy being made to grab investors money amounts to a criminal case rather than a civil court case. The police in UAE is known to be honest (perhaps among the most honest and clean in the world). Therefore we should better file police case against the dishonest developers.
I think since the fraud and misrepresentation in advertising and step by step ploy being made to grab investors money amounts to a criminal case rather than a civil court case. The police in UAE is known to be honest (perhaps among the most honest and clean in the world). Therefore we should better file police case against the dishonest developers.
Developer faces fraud charge
Nathalie Gillet
Last Updated: September 06. 2009 9:33AM UAE / September 6. 2009 5:33AM GMT
The chief executive of Lake View Real Estate, the property developer behind a five-tower project in Ajman, has been arrested on suspicion of fraud, Dubai Police have confirmed.
Up to 30 investors in the project in Emirates City, Ajman, lodged police complaints against AQ, an Indian national, claiming to have lost track of him at the beginning of the year, when work on the towers apparently came to a virtual stop. AQ was arrested on August 24 at the Rifaa police station in Dubai after a criminal case was filed against him.
“This person has been transferred to the Central jail,” said a source at the Rifaa station, who also confirmed the case number.
An officer at Central confirmed that he had been detained and was accused of fraud. “The case is being investigated by Al Rifaa police station,” he added. The case was filed in Dubai and not Ajman, as the company was registered in the city.
Although the project was launched in 2007, and many clients have already paid more than 40 per cent of the total cost of their apartments, construction has not started on any of the buildings. Only piling works have been completed on towers one and two, a Lake View employee said.
The first of the five 21-storey towers was scheduled for completion in the summer and the second this month, according to the contracts.
“When I visited the project site in March 2009 I was shocked because I found that nothing was done at all, despite regular paying of the finance,” said Salah al Din Arif, an investor who bought a flat in August 2007 that had been due for completion in November this year. Mr Arif said he had paid more than 40 per cent of his property’s price.
The company also cashed post-dated cheques, investors said, although developers are required by law to register with the Ajman Real-estate Regulatory Agency and open an escrow account before cashing payments.
The National has copies of a cashed cheque and of a letter of “apology” from the company to the bank.
“They apologised to the bank for cashing my cheque in May but they never gave me my money back,” said Mr Arif.
A Russian investor who complained to the police said he had booked a floor in a non-existent project and paid a booking charge of 10 per cent. “In September 2008, I was told by Lake View Real Estate that there would be two more pre-launch projects in Eye of Ajman, in addition to the other five towers. They said it was called Lake View Twin Towers.”
The following January, said the Russian, he had been promised a refund “as they were planning to cancel the Lake View Twin Towers”. He said he never got his Dh418,000 (US$114,000) back and went to the police five months ago.
Optimum Foundation Company, which was completing piling work on the two towers, has also chosen to file a case against AQ. “Our work on the second tower has had to stop, because we needed the money from [Lake View Real Estate],” said an executive of the company.
AQ is expected to appear before court in Dubai later this month.
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
Hi to all. got this e mail today not to sure to what from it below.
Bik
Dear all,
any of you interested in shifting your apartment from Lake View Towers Ajman to Dubai Sports City pls call 0501500640 or 050-9129099 - Mr. Fouzi for more info.
Sample of the payment plan attached.
Regards,
Anna
Please note: I am not part of Lake View R/E any more. This is my personal email & has nothing to do with Lake view R/E.
I have had confirmation that the registration of LV R.Estate with ARRA is accepted and the fees submitted. Licence is to be issued by next month. Furthermore, Aman Qureshi is arrested and a new administration manager is appointed to overlook the project through their office which is still functioning. let us hope for the best
Lake view real estate
How and from where did you Confirm please.?
oh no !! if you confirm,
oh no !! if you confirm, what's going on for the investors ??? Is it finish for LVT in emirates city ?
This information is from
This information is from ARRA.
Lake view real estate
If the Lake view real estate have failed to register with ARRA ...what happens to money we all have paid to them till now ??
LAKE VIEW
Dear Investors,
Just spoke to ARRA customer service regarding Lake View, ARRA confirmed that they are still waiting for Project innovation and description papers in order To give them approval. They said they still have until May 1st to submit these papers, otherwise, legal advisors on both sides need to come up with some form of resolution.
lakeview realestate
Thanks a lot for the information,if you are in Dubai, please keep us updated.
not sure
interesting, and the assumption is that we the investors have nothing else better to do than wait for the developer to get their c#@% together.
beautiful.
I called Lakeview and they
I called Lakeview and they said that they have been approved and that every investor will receive an e-mail with all the details of registration and escrow account by next week.
if you must pay
my two derhams, if you must pay and want to continue with this investment, ask for the following:
1- ask your developer to somehow compensate you for encounterd delays so far.
2- revised payment plan that reflects construction progress.
3- make sure to list the infrastructure in your contract. the last thing you want is them giving you an appartment with no sewerage or electricity. i.e. electricity issue in emarites city is of huge concern.
Personally, I wouldnt pay a derham, even if they open ten escrow accounts.
Lake View Real Estate
I don't believe a word lake view people say. I would advise investors to call directly ARRA on Sunday and find out.They have asked me to call on Sunday to follow up on my complain against them. The point is that they want to give all the developers even last minutes to register with them.Please don't waste ur time to call LAKE VIEW but call ARRA on Sunday.
LakeView
I called lake view real estate today. They told me they are in the final negotiations with ARRA and are expecting their certificate of registration with ARRA soon. They told me the escrow account should be up and running in May. When I asked for a precise date they said within 2 weeks.
Lets hope this is correct!
Lake view projects
Thanks a lot azizter for the information, since this is a positive news, things should be alright. thanks again
lakeview tower
hi guys i have copied and paste this information from another forum within this website FYI
This was posted on the lakeview's ownges group email.
-------------------------------------------------------------------------------------------------------------------------
Dear All,
Today during our visit to Lakeview Office we came to know the following:
1) The contract for LVT1/2/3 has been awarded to Al Batha Real Estate LLC. They will take care of everything including approvals and updating the investors. Contact person is Mr Abubakr Abuzeid ( Finance Manager ). Contract is signed by Mr Aman Qureshi on date 12 May 09.
2) Registration with ARRA is in the final stages.
3) Lakeview is shifting their office to new location in Sheikh Zayed Rd.......details will be communicated to investors.
4) Work on site will resume soon.........Mr Abubakr will give schedule in 2-3 days. 18 months is the time allocated for building completion.
5) Those who have flats in LVT4/5 will be offered an exchange in LVT1/2/3.
So hope for the best and pray to GOD. Now we have to fight for the infrastructure.
Regards
Lake View Tower 4
I don't know about others but for me exchanging my unit in LVT4 to LVT1,2 &3 is totally unacceptable.I bought my apartment in this particular tower because of its close proximity to shopping mall .So they better fulfill their obligation and build that tower.Till now situation is not very bleak because of lack of transperancy. I was hoping a lot from ARRA but they have failed us as well.
You are right, when i bought
You are right, when i bought my apt in LV4 it was for the same purpose, close to the mall, and if they failed to start it is not our mistake, so what about if we refuse to have an apt in another towers, what will happen?
Please you can contact me on my personal email nabantaki@yahoo.com
regards
Nabil
you are right
yes, if a developer can not make a building he must return investors money with intrest and penalty he can not pressurise to change a building.. he can not presserise even change the floow or another apartment in same floor too..i have experience of same situation in dubai developer damac, i have apartment in their dubailand project they want to cancel that project so offering us another apartment in any of their other finished building at same price, but my lawyer suggested to wait few more months, if they cancel the project they must return money with penalty..no need to take pressure and do as per their wish..
they dont have any leagal right to change your apartment until and unless you are agree for it.. and why you wiill be agree when you have chance to get your money back
I add my voice to you, i am
I add my voice to you, i am not convinced to change my apartment in LV4 to another tower, so i beleive we have to wait till they get the final decision then we can take action accordingly.
regards
Nabil1971
Thanks newera for sharing
Thanks newera for sharing this information with me. It is a very sound advise and I appreciate that u shared this with me.
Regards
enzo
we are here for this
we all are here for sharing information with each other. so no need for any thanks..we are in same boat in this difficult time when developer are finding ways to keep our money by any way..but its good for you that if developer decides not to build the building and if he is not bankrupt or fly away then you will surely get your money back. i am doing same at my dubai project with damac , they are calling me once in every fortnight and asking me to change apartment and also threatening if they build my building there wont be anything surround but myself and about 10 other investors in same building refused stateaway and we are just waiting for their official cancellation notice so we can go to court to take our money back. as market is down at this moment so get a chance to get our money back is very good option ( best option ) for us. i wish you best of luck and will inform you about our next steps in dubai apartment
Dear Nabil,
Dear Nabil,
It's good to know that other investors agree with me .If u want to discuss the situation further, you r most welcome to contact me on this number 050 6218500.
Regards,
enzo
LVT 4
Should Lake View propose that I exchange my flat in LVT 4, for a flat in another tower, I will decline their offer.
Lakeview Real Estate Scam
Dear Friends,
I have been an investor with LV for about a year now. More specifically LV. To make things worse, I own a a whole Floor.
I just received a tip from one of my agents that they have decided not to build LV 4 and 5. Yes, my dear friends. They have cancelled it but i dont think they will tell their investors, as people are still making payments.
Your concerns are genuine and i believe this company is running a scam operation by taking money from its investors with no intention of building the towers. You are absolutely right when you say they dont return calls, and the senior management is always no where to be found. I believe Mr. Aman Qureshi has already run away as he is never in the office. We really need to do something about this.
I just talked to someone at ARRA, and his exact words were "To tell you the truth, We are having a lot of problems with this company". Apparently, they have not submitted all the documents for them to be approved, and no escrow account is being given to them right now. Not till all the documents have been submitted. He also insisted that i come visit the ARRA office. I dont live in dubai, so its not that easy for me to just visit ARRA. However, i am reaching Dubai on the 1st of June 2009, and definately visit LV and ARRA a day or two after i arrive. You are more than welcome to join me. Actually I insisit that you do.
I am hoping to meet some or all of you, if time permits and if you are okay with it. I really think we should get together and do something about this. i have invested a considerable amount of money with LV and frankly i would very much like to get it back.
I have also heard that some people have filed an official complaint regarding LV as people are very concerned at this point.
I will only be in town for a week, and thats my sole purpose of the trip .. to do something concrete about this issue. When i say do something concrete, i mean file an official complaint, consult lawyers & other investors.
If you are interested. Please let me know. You can email me at lakeviewscam@gmail.com or you can message me here.. if for some reason you are unable to meet, you can email me the problems you have been having with LV. We need to stand together and fight. I think if we go in with large numbers, we can do anything. Imagine.... hundreds of people filing a complaint against the company in a matter of days... we'll get their attention.
If you are out of the country.. please send me your contact information. Maybe you can file a complaint from overseas. Ill see what the procedure is, and maybe we can do it by fax/scanned docs via email or something...
Dont believe anything LV tells you. Theyre bunch of liars. i have been dealing with them for over a year, and everything they say is just a way of delaying things.
I will be in Dubai from June 1st - June 9th. I am planning on arranging a meet on the 3rd. So whos with me?
I am trying to reach as many people as possible. so if you know any LV investors for LV 1, 2, 3, 4, 5. Please forward this to them. And give them my information. If you have a list of investors already, i would appreciate it if you could send it to me.
Once again. we can only get our money back, if we are together. We need to be together.
email me or send me a message here.
lakeviewscam@gmail.com
Thank you for taking the time to read this.
Lake View Investor.
ok
ok
Arra and lake view
Hi, me and my brothers are invested in lake view 2 years ago, we paid alot of money, but we did stop to pay, we called ARRA yesterday, and spoke with a lady AYSHA, she told us that arra did an action against lake view because they never submited required documenta, and she advice us to call them back next 2 weeks, if nothing happened..then we go to ajman and go to arra straight away with a lawyer, then arra will give us a support letter to the court in Ajman.
Normally we called lake view twice a week, last time they told us that lake view is managing by a new company names ALBATHAREALESTATE, and they gave us a mobile number to some one from that new company, his name is Abu Bakir, and he is always saying that he had a meeting with arra and there not problem,
We dont know what shall we do, lake view told us they can not refund our money.
Serious Issue lakeview office closed
Dear All..
please be informed that lake view has closed down all their offices and none of their number is working. If any body has any information about it can you please call me as i am really stressed out. 0509505983. i have tried to contact Sohail, riyaz their office,,,,zulekha no one is answering the call................................................................
lakeview
Hello Junaid, they have moved to 19th floor, white crown building, near fairmont hotel,sheikh zahid road phone 00971043328819. On thursdays they close at 3pm. Please when you go, brief uswhat happened. Thanks
lakeview
Dear All,
Iam one of the investor since 2007 in lakeview 2 tower and paid more that 60% of the total payment, i went to ARRA yesturday and they told me Lakeview real state failed to register and open the escrew account, ARRA customer service told me to apply for a letter from them and take it to the Ajman Court to complain against them.
Did anyone recieve the supporting letter from ARRA and submit it to the Court???did anyone hire a lawyer or willing to do so?
I think if we can hire one lawyer for all of us we can build a strong case with acceptable fees! kindly advise??
Regards
LAKE VIEW
TO ALL,
We must cooperate.
Mahmood-sadiq and DigitalDNA are right.
We are with 8 Belgian investors and have together 16 Units and 10 parkings.
We want cooperate also our recover money.
Do you no someone who can treat this on the spot. I live in Belgium and cannot this on the spot regulate.
WE MUST OUR MONEY! ! ! !
LVT 2
hi
Im intrested in joining you. please call mail me your details at rajesh050@yahoo.com. I will call you and we can discuss.
rajesh
lake view Lake view did pay
lake view
Lake view did pay the fee to ARRA, but they are still in progress with ARRA, and they are still not registered with ARRA, some ducuments are reguired by ARRA, but lake view not submitted yet...i dont know why, it means Lake view still got no escrow account at all....
Lake view never answering every ones email, they are no bother about investors...
Lake View Realestate Developer faces fraud charge
Dear All Investor, sorry its a bad news for us in TheNational.ae news paper has mention this News on 05 Sep2009
Developer faces fraud charge
Nathalie Gillet
* Last Updated: September 05. 2009 11:05PM UAE / September 5. 2009 7:05PM GMT
The chief executive of Lake View Real Estate, the property developer behind a five-tower project in Ajman, has been arrested on suspicion of fraud, Dubai Police have confirmed.
Up to 30 investors in the project in Emirates City, Ajman, lodged police complaints against AQ, an Indian national, claiming to have lost track of him at the beginning of the year, when work on the towers apparently came to a virtual stop. AQ was arrested on August 24 at the Rifaa police station in Dubai after a criminal case was filed against him.
“This person has been transferred to the Central jail,” said a source at the Rifaa station, who also confirmed the case number.
An officer at Central confirmed that he had been detained and was accused of fraud. “The case is being investigated by Al Rifaa police station,” he added. The case was filed in Dubai and not Ajman, as the company was registered in the city.
Although the project was launched in 2007, and many clients have already paid more than 40 per cent of the total cost of their apartments, construction has not started on any of the buildings. Only piling works have been completed on towers one and two, a Lake View employee said.
The first of the five 21-storey towers was scheduled for completion in the summer and the second this month, according to the contracts.
“When I visited the project site in March 2009 I was shocked because I found that nothing was done at all, despite regular paying of the finance,” said Salah al Din Arif, an investor who bought a flat in August 2007 that had been due for completion in November this year. Mr Arif said he had paid more than 40 per cent of his property’s price.
The company also cashed post-dated cheques, investors said, although developers are required by law to register with the Ajman Real-estate Regulatory Agency and open an escrow account before cashing payments.
The National has copies of a cashed cheque and of a letter of “apology” from the company to the bank.
“They apologised to the bank for cashing my cheque in May but they never gave me my money back,” said Mr Arif.
A Russian investor who complained to the police said he had booked a floor in a non-existent project and paid a booking charge of 10 per cent. “In September 2008, I was told by Lake View Real Estate that there would be two more pre-launch projects in Eye of Ajman, in addition to the other five towers. They said it was called Lake View Twin Towers.”
The following January, said the Russian, he had been promised a refund “as they were planning to cancel the Lake View Twin Towers”. He said he never got his Dh418,000 (US$114,000) back and went to the police five months ago.
Optimum Foundation Company, which was completing piling work on the two towers, has also chosen to file a case against AQ. “Our work on the second tower has had to stop, because we needed the money from [Lake View Real Estate],” said an executive of the company.
AQ is expected to appear before court in Dubai later this month.
How about Fahad Dero of Sweet Homes
How about the MD of Sweet Homes???When are we going to take actions against him?????
Is it really a bad news?!
Arif,
Why you think arrest and put a crook like AQ behind bars are bad news?!!.
It is strange that many investors complaining in both cases, if laws not applied or applied!!.
Others are in Q
Its a very good example set by Dubai police and we must congratulate them, Hope the same way Ajman authorities will also act and days are not far for other crooks to go behind the bar.
This action must put lots of pressure on other developers that either perform and respect the contract or ready for punishment.
Appreciated move.
We should take the help of police rather than court
I think since the fraud and misrepresentation in advertising and step by step ploy being made to grab investors money amounts to a criminal case rather than a civil court case. The police in UAE is known to be honest (perhaps among the most honest and clean in the world). Therefore we should better file police case against the dishonest developers.
We should take the help of police rather than court
I think since the fraud and misrepresentation in advertising and step by step ploy being made to grab investors money amounts to a criminal case rather than a civil court case. The police in UAE is known to be honest (perhaps among the most honest and clean in the world). Therefore we should better file police case against the dishonest developers.
LV Real Estate
Following reported in The National.
Developer faces fraud charge
Nathalie Gillet
Last Updated: September 06. 2009 9:33AM UAE / September 6. 2009 5:33AM GMT
The chief executive of Lake View Real Estate, the property developer behind a five-tower project in Ajman, has been arrested on suspicion of fraud, Dubai Police have confirmed.
Up to 30 investors in the project in Emirates City, Ajman, lodged police complaints against AQ, an Indian national, claiming to have lost track of him at the beginning of the year, when work on the towers apparently came to a virtual stop. AQ was arrested on August 24 at the Rifaa police station in Dubai after a criminal case was filed against him.
“This person has been transferred to the Central jail,” said a source at the Rifaa station, who also confirmed the case number.
An officer at Central confirmed that he had been detained and was accused of fraud. “The case is being investigated by Al Rifaa police station,” he added. The case was filed in Dubai and not Ajman, as the company was registered in the city.
Although the project was launched in 2007, and many clients have already paid more than 40 per cent of the total cost of their apartments, construction has not started on any of the buildings. Only piling works have been completed on towers one and two, a Lake View employee said.
The first of the five 21-storey towers was scheduled for completion in the summer and the second this month, according to the contracts.
“When I visited the project site in March 2009 I was shocked because I found that nothing was done at all, despite regular paying of the finance,” said Salah al Din Arif, an investor who bought a flat in August 2007 that had been due for completion in November this year. Mr Arif said he had paid more than 40 per cent of his property’s price.
The company also cashed post-dated cheques, investors said, although developers are required by law to register with the Ajman Real-estate Regulatory Agency and open an escrow account before cashing payments.
The National has copies of a cashed cheque and of a letter of “apology” from the company to the bank.
“They apologised to the bank for cashing my cheque in May but they never gave me my money back,” said Mr Arif.
A Russian investor who complained to the police said he had booked a floor in a non-existent project and paid a booking charge of 10 per cent. “In September 2008, I was told by Lake View Real Estate that there would be two more pre-launch projects in Eye of Ajman, in addition to the other five towers. They said it was called Lake View Twin Towers.”
The following January, said the Russian, he had been promised a refund “as they were planning to cancel the Lake View Twin Towers”. He said he never got his Dh418,000 (US$114,000) back and went to the police five months ago.
Optimum Foundation Company, which was completing piling work on the two towers, has also chosen to file a case against AQ. “Our work on the second tower has had to stop, because we needed the money from [Lake View Real Estate],” said an executive of the company.
AQ is expected to appear before court in Dubai later this month.
good news
Thats good abt the police that they have taken action. Anybody knows when is the hearing in the court.
court
I thing within 30 days
AQ being indian is being
AQ being indian is being tried . Alrashed being of emirates no clue at all !
how to submit complain to Police
Hi,
Please any one can tell me the procedure to submit application against Aman Qurashi to Dubai Police.
Rds
Tanz
consultant for emirates city
consultant for emirates city 00923000 8219727 Plzzzzzz feel free for all consultancies
thanks for your information
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
thanks for your information
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
thanks for your information
thanks for your information for calling Dubai Police .but i try to call from outside of UAE but something wrong with the tel.nr that you mention 009230008219727.i know for UAE the key nr is 00971 .please can you correct me to call the Dubai police in right way ?
the consultant is from
the consultant is from karachi
Dubai Police H/Q
The telephone number for Dubai Police Headquarters is 00971-4-2292222
re; OFFER
Hi to all. got this e mail today not to sure to what from it below.
Bik
Dear all,
any of you interested in shifting your apartment from Lake View Towers Ajman to Dubai Sports City pls call 0501500640 or 050-9129099 - Mr. Fouzi for more info.
Sample of the payment plan attached.
Regards,
Anna
Please note: I am not part of Lake View R/E any more. This is my personal email & has nothing to do with Lake view R/E.
Payment Plan
Dear Bik,
What is the payment plan? Can you please post it on the forum.
Thanks
lake view registration with ARRA
I have had confirmation that the registration of LV R.Estate with ARRA is accepted and the fees submitted. Licence is to be issued by next month. Furthermore, Aman Qureshi is arrested and a new administration manager is appointed to overlook the project through their office which is still functioning. let us hope for the best