R Holding, problems in Ajman, emirates city FAILURE
Deal all,
im a uk investor having paid over £100,000 for an entire floor in conjunction with 2 other business partners. I have stopped ALL payments from Jan-09 because I realised emirates city/Ajman project is a catastrophic failure. No infrastructure (elec, water, parks, shopping mals etc) the properties are worthless, they will never recover the original price nevermind a healthy profit. Worse still, R Holding, ARRA are untrustworthy. No transparency. Escrow account or not, it is meaningless to carry on paying. It is a blackhole. Do not be frightened brothers, they cannot cancel our flats due to non payments. They have violated T&Cs. If they cancel, who will buy in our position? This whole failed project has been exposed on world wide scale. Millions of dollors stolen by fraudsters and authorities cant do shit. Zero protection for investor. All of my contracts have been handed to my business partner illegally by R Holding. Now due to dispute between us, R Holding will not reissue contracts and send them to UK to save a few extra dhirams.
To those who are still paying, please be careful with these bastards. Soon court cases will launch, without our money these towers wont get completed. If they do, that will add more burden of continued payments (next 3 years of installments) to investors, as no one will rent or buy in sand with generators per flat.
Please share your experiences with the rest of the world on this forum, so these bastards can be exposed and weakened.