Lets Get Together and have a One Voice Internationally
Lets Get Together and have a One Voice Internationally
I have been speaking to International Property lawyers and with current vague internal policies, it seems that UAE and Ajman authorities have no notice of what happens to complain filed through their agencies. They will prolong the procedures; make you run around different departments and waste your time by either not showing up on arranged appointment or simply calling a day off. It seems that they know that if you go there you have limited recourses/time and you are tied up financially elsewhere, making it impossible to prolong your stay.
The International Property Lawyer has advised me that to break the ice is to file petition to UAE Conciliates in Resident Countries. It is more effective if it is filed as group petition and in countries where international media is Present.
We have decided to file petition in UAE Embassy in London and New York in presence of media. We are arranging TV news channel coverage currently funded by local sponsor.
The least will happen that UAE authorities will acknowledge receipt of Petition on Camera!!!
This matter will be caught in an international eye and there is bound to be UAE response as they are still seeking International Investment and cannot simply ignore it.
I would like to urge everyone who is affected by UAE Property Investment to register his or her Voice. This is not costing you any money and it will bring the attention, which will benefit all who are affected by Investment in UAE.
Please Email me for further information or to register atozbs@yahoo.co.uk
Regards
YES
Yes, this is the right thing to do. However, you didn't say anything about the content of the petition. What are the demands? I will suggest that next to supporting this very important move, everyone should contribute ideas about the points that should be included in the petition.
The first thing that comes to my mind is government guarentee ( supported by financial institution) for the completion of Ajman projects and fullfilment of promises regarding buildings, infrastructure, and visas. If not, then an option of refund.
Please contribute with ideas.
Good point taken - Any more suggestions
Currently all is in process of compilation. Each interest registered via email will have post draft sent to. Everyone registering their interest via email should include any suggestions they may have!
Points for petition
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.
VISA's
A lot of people invested on the back of VISA' the govt needs to state clearly it policy on this as many of use feel we were duped.
Were the developer is in breach of contract, and many are then there should be a more cost effective way of getting resolution, not this running around and expensive legal obsticles.
From what i have seen there are conflict of interest between Rholding and ARRA, and i truely believe that this is why we the investors are being given the run around. ... Transparency and Accountability is lacking
Need a clear road map for the infrastructure .... not point developer finishing you aprtment and you have no electicty , water ...etc.
undertaking the we will not be stung with unresonably high admin and maitenace charges as a way of extacting more money out of us
VISA's...etc
A lot of people invested on the back of VISA' the govt needs to state clearly it policy on this as many of use feel we were duped.
Were the developer is in breach of contract, and many are then there should be a more cost effective way of getting resolution, not this running around and expensive legal obsticles.
From what i have seen there are conflict of interest between Rholding and ARRA, and i truely believe that this is why we the investors are being given the run around. ... Transparency and Accountability is lacking
Need a clear road map for the infrastructure .... not point developer finishing you aprtment and you have no electicty , water ...etc.
undertaking the we will not be stung with unresonably high admin and maitenace charges as a way of extacting more money out of us
Meeting
Meeting is very important, if we all met 2 years back then today the pressure on developer was diffrent and even I am sure the project must be on different level.
Gone time will never come back, why we are not meeting .... try to gether on coming Friday any where in Dubai or even at EC site.
show our strength.
Meeting
Dwarish my friend nice to hear from you after a long time. Hope you are well. As usual you have great suggestion to hold meeting of all the investors living in U.A.E to monitor the progress or lack of it and to adopt a unified stand/approach deemed necessary to R holdinds,ARRA, Ruler of Ajmman/Dubai or Abu Dhabi. Good Luck and let us hope you have good response from all.
With warm regards,
Lee
i will be there in spirit
i will be there in spirit then in person lee :P
(raises his fist in defiance) }:)
Musafir Moderator
they must give us chance , decide to take money back or continue
i bought from GCD2 , they must clear about visa and a new agreement must be written , and they must let investors to take their money back or continue , cos if they are realy start building , they can sell to new investors and so they must give us this chance to decide about it after so much delay .