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Lavender Tower

Sarahlavendertower's picture

I bought a unit in Lavender Tower however in Humaid City not Emirates City back in 2008 for the price of AED 368, 000/- through Al Rashed Real Estate through a broker in Dubai Called Caspian Properties ! After I completed the payment of AED 111, 825 /- I did not receive any further correspondences from the real estate and I was advised that Rashed Real Estate closed down and that I should swap my unit with an other unit in Dubai Marina ( which I did not )!I called today R holdings and was advised that I could do swapping with with then and take a unit in Emirates City ! Please please people! I need your advise! Is it worth it ? or is it better to loose my paid money ? please I need honesty here and transparency ! as I have lost enough money ! Appreciate your guidance in advance :)

With light and peace ,

Sarah :)

akhiabani's picture

Swap

Did these crooks tell you the rate they are offering for swap?

Sarahlavendertower's picture

Hi Dear ..... no they did not

Hi Dear ..... no they did not ... I have sent them an email to ask about prices and payment schedule yesterday however did not receive any response yet! what is your experience ?

akhiabani's picture

Hi Dear

Did they respond?

akhiabani's picture

Rholding and swap

If they were honest this is a really good time for lot of swaps. There are a lot of units coming to market.

Emirates City swaps

I would advise you to check the terms of your contract for swaps, also the prices that they are offering you swaps at. There is also a big issue, your contract is next to useless when you try to legally pursue any issues with the developers through Ajman courts. I brought 4 apartments in Emirates city and went down all the routes but to no avail. The development authority is no help and the legal route will cost you probably more that your ever going to get back (if you ever get a penny back). All the developers are great at sales talk but when it come to actual construction they prove useless. The developers do not want to return any monies (most cases developers have spent or taken funds abroad), so they will keep making offers of swaps or false promises of completion dates.
Also please note the actual costs of swaps, I was offered swaps but when doing the sums found that I could actually buy from other agents direct 30=40% cheaper - so the developers were again trying to scam money anyway they can. Emirates city has no Infrastructure and probably won't have for the next 5-6 years, so not much good buying into a dead investment. The developers will be very helpful until they have your money , then you will be chasing them to no avail. CROOKS at Emirates City and Al Humaid City. They haven't started anything at AL Humaid so why are they not evening returning deposits, biggest property scam of the decade, very will planned scam.