Past & future of Emirates & the role of its government in economic crisis
As a victim of trusting on the law and governmental & bussiness system of United Arab Emirates who has lost much of his property in this lawless land,I am trying to have a review on this governments acts and policies, I am trying to analyse their behavior & have a prediction about the tomorrow of their economy and markets.
during last decade hundereds of TV and satellite channels tried to attract the confidence of overseas middle income investers who were looking for a better life especialy for their kids and were mostly from the contries who had no a stable and trustful social & economic systems.They used several essential factors in order to gain their aims.The most important of them was Residential Visa.The second one was easy payment plans which enabled many people suppose themselves as future landlords of modern apartments in Emirates.I know some families which even were economizing in their food because of sending their installments to Emirates.The good condition of Emirates economy & being this country as a Islamic one (who have believed to eat halal bread and avoid of haram trade & incomes)were other operative factors to hurl inocent people in this whirlpool.
When the agreements were signed & millions of Dirhams bigan to plummet to Emirates economy & market ,suddenly in 2007, the constructional works stopped.Notwithstanding the commitments of developers in completing & handing over the units nobody was ready in answering the investors.Every body was saying world economic crisis and nobody said what will hapen for destitute investors who have send most of their income during last years to developers.
Generally in this situations the juridical system of each contry tries to help victims,if not for humanitarian goals but for saving its political and comercial reputation & not losing the trust of investors.But as we have seen & heard there is no sign of good faith among the courts of Emirates.First goingto these courts requires big amounts of cashes which in fact makes it impossible for these innocent victims.Second ,there are news which show courts great fear from some of developers who are apparently dependent to Royal families of Emirates and so its clear what the sentence of the court will be.
While most of investors were completely disappointed ,they were sent some messages by some greater cheaters who were inviting them to swap their units in Ajman And Dubai which were stopped with units which are being constructed at the time being in Dubai.They took all of the previous documents and receipts of the investors and made them sign some agreements named SWAPPING AGREEMENTS which were totally pro developers.Coming out of pit and falling in shaft.And again there are signs that these great swindlers are connected to Emirates Royal families again.
So what does it mean?If their relation to authorities of Emirates government is true ,so Shame to this government and this will be a governmentel charlatanism and formal fraud that can be filed as a criminal case in international courts.And if there is no any relation between these developers and Emirates government,the government and especially Sheikh of Abudhabi and Dubai must do some things in order to return peopels money and sentence these cheaters and save their countries reputation and clean this shame from their system.Almasah Real state is one of those who robbed the documents and remained money of investors in the title of swapping.
If the governers of emirates dont try to compensate the losses of investors and give the inocent peoples money back,they must know that for several generations nobody will invest a Derham in their contry anymore.And all the buildings in their country will be some desolate buildings in the mid of deserts.In addition nobody will trust to the country which has no fair juridical system.When you cant go to a court because of its expenses or the threatenings of guilties,as if there is no court and judicial system in that country and its more similar to a forest than a civilized society.
Sentencing these cheats can bring back the peace to the economic and social atmosphere of Emirates.
very organized analysis
very organized analysis amir ,but u and others must know that this authorities u may help had the intension from begining to rob expats money and to make them broke and leave the country with no single dirhim from their work saving , there is no issue like conscious , halal or haram they sucked billions of dollars from hardly earned money by poor people in majority of cases , they made simple but ugly plan to attract us to pour our money in their economy , most victms from middle east and india ,few from western world , i have 2 flats in dubai and ajman paid arround 1 million dhm but got nothing , but allah will revenge and will give me rizq from other place same for you too , we will not pay single dirhm to those cheeters anymore
its a real shame!
Particularly for the SHeikh of Ajman...... who has never made any statement in this regard, whatsoever. And its a general shame for the United Arab Emirates as a whole...... Abu Dhabi and Dubai included.
The visa issue was the biggest factor which reflects the sinister design of the government. To attract money with promise of a visa and then go back on it after the money has come is nothing but a CRIMINAL breach of TRUST and Dubai and Ajman governments which acted at the behest of Abu Dhabi are directly responsible and accountable for this. Come to think of it.......most of us who have our properties in UAE cannot even visit these, forget live in them. What did we buy the properties for? Just to to follow them on internet?
Yes the legal system is far from legal. What is a legal system, the cost of which prohibits victims to claim justice. And is there a law. It changes every week. Even in some developing countries legal help is made available free of cost to poor victims......but not in UAE, which unashamedly makes tall claims to be heading to become a world leader as a commercial hub. The whole thing is humbug. as of now.
I have great admiration for the Sheikh Mohammed of Dubai for what he has done in the past, but at this moment even he appears to be indifferent to the whole situation. And presently he appears to be behaving in a manner which is certainly not in keeping with his stature or the aspirations that the expats always had from him.
RERAs ARRAs are all facades eyewashes created to mislead and pacify the investors......these are paper tiger institutions to contain the hue and cry of investors who have been cheated. In this islamic country the CONTRACT of purchase of property is so blatantly abused by developers that its sanctity is bering trampled in the name of flimsy grounds of FORCE MAJURE. It all serves the purpose of cheat developers, who as rightly pointed out earlier are hand in glove with the powers that be and rule, the Sheikhs and the government.
The time has come when, I can only write off the money I invested in AJMAN because there is no ray of hope. And there is no means to have a meaningful interaction with the developers to sort out the situation which is totally mired in deceit and fraud. When one can BUY a ready built unit for an amount lesser than what is due for the EC unit (which who knows will ever be built), does it make sense to keep paying these cheat defaulting developers????
I think they don't deserve a penny more, unless they come up with a transparent and meaningful plan which is mutually agreeable. And the chances of this hapenning are close to ZERO!
yes it is a real shame
i completely agree with amir, reyadalany and I2 Ajman the govt. and law here has completely lost our trust . I swear would never invest 1 dhs in this country again. I too have given up as I don't see any hope of getting my 3 years of savings back from ETA STAR Giga.
Analysis Ajman Emirates City
You know Ramadan is approaching let us make intention (Niya) whatever money we have invested for our apartments to make it as Zakat money to those muslim cheaters in AJMAN. Those poor people in Emirates deserve it don't they !!!!!!!They can fill their bellies and burn in Hell until they return our hard earned cash.They have enough money to spend on horses,casinoes and women in LONDON ,MONACO and USA etc etc. so why can't they refund our money.No they won't because they are muslim by names only not by iman and action.
Reputation is down the drains.Here in England the TVmedia broadcasted "Home from HEll".The UAE was shamed for its pack of lies and deceits.No one wants to invest in UAE esp. Ajman and Dubai.
Spread the words and do not pay any more money for Emirates City unless the Ruler of Aman himself takes a solemn engagement and promise to honour our contract, ie apartment key in hand and the resident visa with the package.This is what we were told and promised.SO HONOUR IT.
Do not worry
Do not worry brothers if we do not get our due then it is for our sins or just a test by Allah!
And they,if do not return our due,are preparing a hot place in hell for themselves they must have forgotten about laws of Allah or just do not believe.
Cheaters cannot be given zakat money
Mr. Abdool, we cannot consider that the money we invested to the cheater developers as zakaat money. Because Zakaat money should go to poor muslims, otherwise it is not valid. So please dont console yourself that the money they cheated has gone as zakat money. The judicial system in our respective home countries and the international court can really help us, as they can provide some guidance to the cheaters. Presently the cheaters are dancing naked with our money, but when they realize proper reasoning and explaination from serious fair minded impartial systems, the cheater developers will definitely change. Allah has not given us this good health and intelligence to shy and run away from cheaters and thiefs. We should use all the positive approaches to reform the developers. Home made by robbing money from poor people can never make any person on earth happy, and history and the whole world would witness it.