No construction....No money refund...No response....
So friends , August end is approaching . We were committed by our kind hearted developer that escrow account would be created by august end and construction will start by september . But nothing has happened so far as expected. I visted GCD site 2 weeks back and NO SIGN OF HUMAN on the site .There were only few camels sitting and enjoying the sun. And I felt like even they were laughing on my decision of investing on this holy site of Emirates CIty .I called up Star Giga to get explanation for all this nonsense and one highly knowledgeable person told me " Sir, This is Ramadan period and we will resume after Ramadan " All lie ..
So we are basically no where, No sign of construction to be resuming this year , No money to be refunded (.." to refund money we also need to have money ".. this was another line of wisdom given by this gentleman from StarGigga) and no help from any where including ARRA, Ajman govt. ,Ajman law and Developers. So what should we do ?? should we wait for some miracle to happen by Eid this year or next year ? OR forget everything and look forward to in life :(
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What do we do..... Well.....
To be honest I don't see the developers completing this project. The best chance of getting our money back is that they don't finish the project before the final longstop date. There is too much going against them. Furthermore, they have ruined their relationship with investors and clearly competency amongst their staff is as extinct as the dinosaurs. They do not have time on their side and really once they lose a judgement through court action (I understand that this is pending) they will have even less time. Lets be frank. They have semi- destroyed some investors who trusted them with their hard earned money. Infact some investors have lost their entire savings. I am a strong believer in payback and believe that one day these developers will get punished for their wrong doing. I really do hope they have a strong faith because they will really need it one day. As for investors the time is ticking and as each day goes by we will be closer to a solution. Don't get disheartened we will get a result in the end.
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Construction
We hear this daily complaints from investors .You know REALLY there is no one who care less for the investors. They got our money . UAE is an uncivilised world. lots of cows boys,rogue builders and developers,liars,cheaters you name it you will find in them those crooked qualities.We must NOT MAKE ANY MORE PAYMENT.They are robbing us in broad day light.The more we pay the more we lose.We should only ask for refund and get our money back by whatever means. It is a BIG SHAME ON UAE. Never invest there again.
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update from star gigga
hi friends . I just now spoke to Shakeel from Star Gigga and he told me as of now nothing is happening on construction but they have got the escrow account and contruction may start by october 2010. And around that time ARRA will come up with revised payment plan . Also he told me that if they are not able to deliver by Nov. 2011 then in that case they will compensate the investors .
So let's wait friends , by end of this year picture will be very clear
A simple answer
Get out of it ... that my friend is a simple solution to your problem .. lets analyze the situation ... you are stuck with the developers because you made a payment ... and you think you're stuck .. I have given this advice many times and I am personally benefitting out of it ...
there is only one real estate recovery scheme that is allowing you to swap property with completed property with a consideration of a credit note ... in a legitimate way.
This way you dont have to wait around for the project to be completed but with grabbing the opportunity you can start getting your return on investment now ...
call these guys up and explain your situation ..
+971 4 439 4300
http://www.smithandken.com/dubai-real-estate-recovery-scheme
maybe just a phone call will help you.
ARRA COMPLAINT
Dear All
I have mentioned it once and I will mention it again:-
Can those of you who are in Ajman implement the following:-
For lodging a complaint with ARRA, Kindly follow the below steps:
1- Attend in person with your ID or your legal representative (Holder of legalized and notarized power of attorney) at ARRA’s offices in Ajman.
2- Provide a copy of the sale and purchase agreement or the preliminary sale agreement.
3- Provide a copy of the payment Receipts.
4- Fill and sign the Complaint application at ARRA’s customer service department. Collect the complaint number and keep it for future follow ups.
I have been informed that the complaint will be looked into i.e Star Giga's non compliance. Can you please lodge your complaint!!!
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Hi,
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Regards,
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