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R Holding
Thu, 11/20/2008 - 13:15 — yad1
Dear Members
I have read all issues in regards to R- Holding and respect each views in regards to there commitment to the EC project. I personally think trying to sue R holding is a big and drastic move. I think we should be a optimistic as these projects take time and we all know that there would be considerable delays one must be patient I understand everyone being very cautions in these hard economic times as we work hard for our money. I personally think R- Holding will eventually inshallah finish this project.
One also has to remember that even though R- holding are the master developers they sold many plots to developers therefore we as investors have to push and pressure the developers who brought many plots from r-holding for delevering our properties in time.
In regards to R-Holding going bankrupt then this would be a major blow to all investors and would therefore like to know uae laws in regards to bankruptcy and who would have the plot of land in the EC project?
But over all lets be patient and I know this is hard but we have to be a bit more confident.
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Ajman : Emirates City | Humaid City | Marmooka City
RAK : Marjan Island
Ajman : Emirates City | Humaid City | Marmooka City
RAK : Marjan Island
No clouds no rain
Dear yad1
I respect your view, but believe me I am afraid about your money before mine because I know most investors are middle class and rely on their salaries to pay the installments.
I was so optimistic last year, but now with this financial situation and with no gaurantees offered from R-holding, one should put his hands on his heart. I like this proverb "there is no rain without clouds" and similarily there is no EC without contruction.
If R-holding has a good intention, at least they would have replied on our concerns. Just try to understand that they are playing the pyramid game and this game was played by money swindlers since early history. I know that this may not sound good for some investors, but believe me things will not get better if we dont take action.
Finally, i just want to say that God loves justice. And I think that it is unfair that we work hard and pay our money to people whose intentions are not clear.
R Holding
Yad 1
We have to remeber these investments are high risks but with this global economic crises things become very hard and blur. So I really can understand your concerns. But trying to sue r-holding would be very hard in iteself to achiev. In relation to r- holding becomeing bankrupt then I think if there was concret evidence in them going bankrupt then I would be more adament in fileing a comp[laint to ajman authorities to find out our rights and what would happen to our investment. However we dont know for sure what the out come will be but if you have strong evidence that r-holding is going bust then please let me know then we can all as investors file a complaint. You have to remember that the investors are the back bone to this project and they cannot just pack up leave its way to complicated. Please be patient and if you have any concern or find any more info please let us know.
Kind regards
Yad
Evidence
I have evidence otherwise i would not raised this issue. I am just waiting a couple of weeks for getting more evidences and after that my scream will be so loud.
Agree
Dear yad1,
Actually whether sue action succeed or not is not the main concern, but neessary to wake up related gov't authorities of Ajman. What evidence you think will be necessary for suing R-holding? As I believe the exact progress on site & financial performance between R-holding & related developers will be the best evidence to show there is no positive progress & then intended to libertrily delay progress.
Suppose the related Ajman Govt still take care of the overall investment image of their Emirate then surely they will make necessary to protect investor like you and me, otherwise, let it be considering that most of us have paid a certain $$ on that.
Wasn't EC' project backed by
Wasn't EC' project backed by Ajman's ruler?
it is backed by Ajman ruler
it is backed by Ajman ruler and on the municipality web site. But what is the financial situation of Ajman?
^^
Too many people concerned about Ajman EC's credibility.
Let me give out some facts, and the rest are upto u to decide.
R-holding = Ajman Govt (but different shiekh)
Biggest conglomerate of Ajman Called Tech Group has many affiliates, some of them include:
R-holding
Piling Tech
Wood Tech
Ceramic Tech
Property Tech
Construction Tech
Block Tech
and so on....
This biggest conglomerate is now over 80% responsible for all projects in Ajman which includes all projects near Emirates road and down town area (Falcon, Horizon, Corniche, Ajman One) goes on and on lol.
So in reality, there isnt much too worry about in terms of can these projects we invested materialize? It will sooner or later and we, Ajman residents who have inside knowledge of Ajman politics knows that.
However, because of its centralized and monolized operations, the concerned people in charge are more concerned of their shares of return than the project deadlines.
This inturn impacts all of our investors but needless to say, its the endusers with most negative impact, but if you guys are worried about it materializing than not to worry, its all good and for sure they will do whatever it takes to make the community a better place to live in by providing new facilities that was never told or insisted.
These affiliate companies need cash to operate therefore they need to contain projects or get contracts. For examples, for Emirates city, Piling tech handles all pilings, blocks Tech handles all blocks, Wood Tech for furnishing apartments.
So no worries, I suggest put down money and hold it for another few years without being too concerned.
this being said: how do you
this being said: how do you judge the challenges other sub developers meet like Star Giga or Chapal. I get the feeling that the municipality is holding their projects up so they won't finish before infrastructure is ready. Also: why not treat investors as adults and play with open cards? I 'd be happy to know about all the challenges of a project and not being treated like a little child.
Stop paying
Dear investors
I am not a rumor, i also invetsed in EC for more than one year, and i took the decision to stop paying not cause i dont have money but because I dont trust R-holding.
Just try to understand how can R-holding which have no experience before handle the world's largest single phase project. Its sounds like a joke for even a little child.
I hope all investors will wake up immediately and do something collaboratively in order to take back our money from money swindlers.
Remember its not too late, and together we can do alot. Just think about it
take back money is not possible
its unfortunate that we are stuck
i have paid almost 50% money allready and now if i stop paying they will slap me fines or penalties or cancel my apartment
i tried to sell my apartment at even at par but no taker
where to go now?
Don't be so hopeless.
Dear all, the delay is fact.... construction under progress at site is also fact... Why we are targeting 100% developers, there are certain development which must have completion date may be in 2012.
We should not farget the performer developer like GIGA / BSEL the even developer of C11 / C12 there progress of construction making them leader performer of EC.
Thisngs may slow down but ... just not paying the installments ( After paying more than 50 - 70%), will lead you no where, You may loose all amout paid till date, Your developer may want this kind of act from you so they can have defaulters amount directly in their pocket.
The right way to deal with this issue is have a meeting discuss there and if possible try to reach respective or master developer together understand the difficulties, know closely their future plan etc.
I hope all our active mambers will try to join the scedule second meeting and raise their voice , we all want to learn more and know all the facts so the same can be produced in front of respective or master developer.
Waiting for the positive approch for the schedule meeting.