handover will not happen till 3 years if ever on this pace work , we paied arround 60% of the total value while construction arround 10% and no single sign from sh to reschedule or discount for property worth nothing nowadays , try to swap it and u will see how much it worth in adition to the gov scam but not fulfill thier obligations to calm investors for the infrastructure which is the sheikh responsibility , they took the money and left us with few floors concrete skeletons in the middle of no where , i stopped paying pdc since february , no contact from sh , i paied 220 k from 405k , god will punish them sooner or later , i can not pay more to feel like idiot any more
I agree with destiny14 that they slow down with construction and slow down the payment plan. The builder claims that construction resumed just after mid-March. If we default on payments then we are hurting ourselves - builder cannot build without money. In these slow economic times, we cannot hope for a return until at least 3 years. That is the way property investment goes. There is nothing like get rich quick. If we have patience I think everything will turn out ok. I suggest however that we write to the builder and request that the payments be slowed down drastically. If everyone does this then builder will likely comply. I don't think handover is going tobe December 2010.
hi, i am B14 investor and live in UAE. In fact the construction work stoped 3 months ago as contractor got bankropt. I visited them 3 weeks ago and discussed the situation with one of the managers. I was offered to skip one of the quarterly payments. Further they said they are negotiating with the contractor to find a way to restart the construction. They mentioned 2 options , retendering the job or agreeing with the contractor in a way that it can work. I visited them last week again and they said they are close to a solution. Actualy it is the same with B10 and also B15.I go every 2 weeks to the site and recently i was in the building. Problem is not B10 or B14 etc. problem is the whole emirate city. I think it takes 3 years till enough towers are built justifying working on the infrastructure like road and greenery etc. I personaly prefer when they slow down with construction and we with payments.
people u are not reading contributions from investors well ! this for u for free ,we spent time and efforts to tell u what we did with bitter homes for tue look to the contents of this page (earlier posts ) u will find answer to ur ? salam
Could you please share your experience after stopping the payments. Did SH sent you any legal letter with warning etc.
Do you have any correspondence with them If yes how are they responding back.
After reading never ending threads on this forum, I admired every body's views and suggestions but I didn't like the idea to only sending emails and not to accommodate on one platform. First of all I'm also the loser between all of you ! ITS FIGHT SO WE SHOULD REACT LIKE AGGRESSIVE SOLDERS. I'm not here to sending emails back and forth on this virtual box. My eternal goal is to contact every body from B14 and try to resolve this matter ASAP. I don't want to discuss and share every thing here like a boring TV TALK SHOW. Every body who belongs to B14 should know whats going on and what are future prospects, so please come out from cage and PREPARE ACTION PLAN TO GET RID OF THIS ONGOING ISSUE.
IF I'M NOT AWARE ABOUT ANY WORKING EMAIL LIST OF B14 INVESTORS IF THERE IS ONE KINDLY ADD MY EMAIL ID : yasirzamir@usa.com
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
We are in the worst situation live outside of UAE because we don't know exactly whats going to happen in future!
I'm from Canada (Toronto) and would like to see who has some time and energy to participate accordingly for disputed money and get rid of this LIFE TIME SUFFERING phase.... I only know one person personally here who is Abdul Qadir (from USA). Kindly introduce every body and share email addresses to make one email list to contact every body for better prospects:
Following is my action plan. Every body can participate and share ideas:
1) SHARE EMAIL ADDRESSES, CITIZENSHIP, PAYMENT STATUS FROM B14 INVESTORS
2) PREPARE NEXT STRATEGY (in order to accomplish our task either stop paying every body or pay till 100% and get nothing)
3) CONTACT REAL STATE LAWYERS in the light of Ajman Property Laws (People mentioned on the same forum that new laws from Ajman are going to introduce soon, so no need to contact lawyers to let them eat our money more ! )
4) GET THE FINAL CONCLUSION WITHIN 1 WEEK
At this current point I've only 2 questions from every body who are living in UAE and invested in this project:
Q1) If we (All B14 Investors) stop payments what are consequences in the light of AJMAN Real state law and B14 official contract?
Q2) What are major responses from People who got property in hand from SWEET HOMES (any project which is completed so far)?
Finally, We should be very organize in order to take actions against SWEET HOMES AJMAN. Its better to work on right direction instead of sending sentimental emails.
* I'M WAITING FOR EVERY BODY'S EMAIL ADDRESSES WHO INVESTED IN B14 *
thanks Abdulqadir for sharing gulf news. I think this is good news. Let us see whether SW will deliver rainbow towers on time ( quarter four) as they have promised. Me i won't stop payments, but i can assure you, if they don't deliver on time, i will make them regret.
stop paying like what we did ( 4 people) starting from this month , settar dero was very angry , refused to meet us last thursday , he think the cow will continue produce milk without food ! SH refused linking payment linked to construction so let them go to hell , we also will lose bec according to contract 50% cut as penelty from what has been paied , brothers they still can listen to us bec still 50 % of instllments not paied u expect some respect untill u pay 90% see those crooks what face can show , they are afraid to loose thier jobs if massive stop of payments , this is the only weapon we have now , soon deero will run to his master crying , than will be another deal
Today i called SH they confirmed that the work has been stopped for the past 2 months. They said that we shall appoint new constrction Co. and the work will start in few days. Buut they still insist that the completion date is Dec. 2010 (big joke). aND THEY REFUSE TO RESCHEDUULE THE INSTALLMENTS apart from the big installment.
No developer in the world can cheat unless we allow them to. Never give up[, otherwise property is not a person's cup of tea. And better we stay in huts and villages. Because people are waiting to test your patience, and run away with money; Simply, because property involves large amount of money and that can make the intention of other party bad enough, to the extent that they can even steal, even violate the contract terms, all to their advantage. If big money was not involved these people would have been very polite and honest. It is the temptation of the big money involved that makes then dishonest. But the investors should mould the developer, educate him (irrespective of his terrible background), and when they see investors are serious, ALL DEVELOPERS WILL LISTEN AND COMPLY and become honest again. Why? The answer is simply again the same " BIG MONEY IS INVOLVED. Remember 50 % payment only to be paid untill project is complete. Investor should pay according to this scheme. 25% on handover and remaining 25% after handover in installments. Pay after seeing progress physically. Do not pay for promises for castles in the air. This is according to the orginal contract deal.
I stoped on April 2009, however i have already paid 140k for my purchased flat worth 320k, so me too almost half i paid ..what a amazing investment i have done!!! i could ride best car for 140000 ,instead of paying the stupid project..any way there is no use of regreting at this stage..
i visted site on 22.1 .10 n0 work ,no single person in all ranbow projects , no progress since 3 months only one poor indian engineer in site offiice just to cry when i told him i will stop paying , went to the main office ---> no answers for my ?? i decided to stop payments , closed the current account , no money untill significant progress 20 floor at least for the 55% i paied for them , this is my thinking or let them cancel the contract with 50% cut although they are the defaulters not me but i accept 50% refund even if after years better than reach 90% and stop bec all of us will reach point to stop , clever people stopped eariler , this is my mistake and i must suffer now better than late
i was there on the 8th of december2009, i did see all the work they do, they do work non stop, sweet homes are OK, not like Lake view which i am lake view investor, i m not home sweet investor, you shouldnt be worry because the importent thing is sweet homes got an escrow account, it means you are safe.
But there were no Electricity, water, road/street behind all emerate city(Including sweet homes), was like a desert...
I think they can build road/street and other facilities very quick if some of emerate city towers complet it
There is no floor added in the past one month. (See the pictures posted on 3.12.2009) That means the construction work has been stopped. But the SH administration still insists the completion date is Dec. 2010. Some Gennies will come for the construction?
Comments
handover will not happen
handover will not happen till 3 years if ever on this pace work , we paied arround 60% of the total value while construction arround 10% and no single sign from sh to reschedule or discount for property worth nothing nowadays , try to swap it and u will see how much it worth in adition to the gov scam but not fulfill thier obligations to calm investors for the infrastructure which is the sheikh responsibility , they took the money and left us with few floors concrete skeletons in the middle of no where , i stopped paying pdc since february , no contact from sh , i paied 220 k from 405k , god will punish them sooner or later , i can not pay more to feel like idiot any more
Rainbow B14 Sweet Homes
I agree with destiny14 that they slow down with construction and slow down the payment plan. The builder claims that construction resumed just after mid-March. If we default on payments then we are hurting ourselves - builder cannot build without money. In these slow economic times, we cannot hope for a return until at least 3 years. That is the way property investment goes. There is nothing like get rich quick. If we have patience I think everything will turn out ok. I suggest however that we write to the builder and request that the payments be slowed down drastically. If everyone does this then builder will likely comply. I don't think handover is going tobe December 2010.
Rainbow B14
hi, i am B14 investor and live in UAE. In fact the construction work stoped 3 months ago as contractor got bankropt. I visited them 3 weeks ago and discussed the situation with one of the managers. I was offered to skip one of the quarterly payments. Further they said they are negotiating with the contractor to find a way to restart the construction. They mentioned 2 options , retendering the job or agreeing with the contractor in a way that it can work. I visited them last week again and they said they are close to a solution. Actualy it is the same with B10 and also B15.I go every 2 weeks to the site and recently i was in the building. Problem is not B10 or B14 etc. problem is the whole emirate city. I think it takes 3 years till enough towers are built justifying working on the infrastructure like road and greenery etc. I personaly prefer when they slow down with construction and we with payments.
people u are not reading
people u are not reading contributions from investors well ! this for u for free ,we spent time and efforts to tell u what we did with bitter homes for tue look to the contents of this page (earlier posts ) u will find answer to ur ? salam
shall i stop the payment
what can i do about this should i stop the payment or not, have b10 and b14
Thanks AR
Could you please share your experience after stopping the payments. Did SH sent you any legal letter with warning etc.
Do you have any correspondence with them If yes how are they responding back.
-Thanks
Rainbow14
No corresponds, nothing from SH - no single call!
ACTION PLAN FOR B14 INVESTORS
Hi, im B14 Investor ,i stoped payig since April 2009, please add my Email adress too : watchmegood@hotmail.com
thanks,
AR
ACTION PLAN FOR B14 INVESTORS
Hi All,
After reading never ending threads on this forum, I admired every body's views and suggestions but I didn't like the idea to only sending emails and not to accommodate on one platform. First of all I'm also the loser between all of you ! ITS FIGHT SO WE SHOULD REACT LIKE AGGRESSIVE SOLDERS. I'm not here to sending emails back and forth on this virtual box. My eternal goal is to contact every body from B14 and try to resolve this matter ASAP. I don't want to discuss and share every thing here like a boring TV TALK SHOW. Every body who belongs to B14 should know whats going on and what are future prospects, so please come out from cage and PREPARE ACTION PLAN TO GET RID OF THIS ONGOING ISSUE.
IF I'M NOT AWARE ABOUT ANY WORKING EMAIL LIST OF B14 INVESTORS IF THERE IS ONE KINDLY ADD MY EMAIL ID : yasirzamir@usa.com
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
We are in the worst situation live outside of UAE because we don't know exactly whats going to happen in future!
I'm from Canada (Toronto) and would like to see who has some time and energy to participate accordingly for disputed money and get rid of this LIFE TIME SUFFERING phase.... I only know one person personally here who is Abdul Qadir (from USA). Kindly introduce every body and share email addresses to make one email list to contact every body for better prospects:
Following is my action plan. Every body can participate and share ideas:
1) SHARE EMAIL ADDRESSES, CITIZENSHIP, PAYMENT STATUS FROM B14 INVESTORS
2) PREPARE NEXT STRATEGY (in order to accomplish our task either stop paying every body or pay till 100% and get nothing)
3) CONTACT REAL STATE LAWYERS in the light of Ajman Property Laws (People mentioned on the same forum that new laws from Ajman are going to introduce soon, so no need to contact lawyers to let them eat our money more ! )
4) GET THE FINAL CONCLUSION WITHIN 1 WEEK
At this current point I've only 2 questions from every body who are living in UAE and invested in this project:
Q1) If we (All B14 Investors) stop payments what are consequences in the light of AJMAN Real state law and B14 official contract?
Q2) What are major responses from People who got property in hand from SWEET HOMES (any project which is completed so far)?
Finally, We should be very organize in order to take actions against SWEET HOMES AJMAN. Its better to work on right direction instead of sending sentimental emails.
* I'M WAITING FOR EVERY BODY'S EMAIL ADDRESSES WHO INVESTED IN B14 *
God Bless Us !
B14 Investors...
B14 Investors. Lets get together and start thinking about at least having our contract
reviewed by some Ajman Real Estate Attorney.
If any body has already done so then please share his experience. If some body could gimme
lawyer contact information this will be great too.
Is there any B14 investor live here in USA/Canada let me know.
Thanks
thanks Abdulqadir for
thanks Abdulqadir for sharing gulf news. I think this is good news. Let us see whether SW will deliver rainbow towers on time ( quarter four) as they have promised. Me i won't stop payments, but i can assure you, if they don't deliver on time, i will make them regret.
GulfNews.com ( 01st Feb 2010 ) about Sweet Homes..
http://gulfnews.com/business/property/sweet-homes-forges-ahead-in-ajman-...
stop paying like what we
stop paying like what we did ( 4 people) starting from this month , settar dero was very angry , refused to meet us last thursday , he think the cow will continue produce milk without food ! SH refused linking payment linked to construction so let them go to hell , we also will lose bec according to contract 50% cut as penelty from what has been paied , brothers they still can listen to us bec still 50 % of instllments not paied u expect some respect untill u pay 90% see those crooks what face can show , they are afraid to loose thier jobs if massive stop of payments , this is the only weapon we have now , soon deero will run to his master crying , than will be another deal
B14
Dear Ajman Dream, how we supose to take action!?
Construction stopped on B14
Today i called SH they confirmed that the work has been stopped for the past 2 months. They said that we shall appoint new constrction Co. and the work will start in few days. Buut they still insist that the completion date is Dec. 2010 (big joke). aND THEY REFUSE TO RESCHEDUULE THE INSTALLMENTS apart from the big installment.
No use crying! Take action
No developer in the world can cheat unless we allow them to. Never give up[, otherwise property is not a person's cup of tea. And better we stay in huts and villages. Because people are waiting to test your patience, and run away with money; Simply, because property involves large amount of money and that can make the intention of other party bad enough, to the extent that they can even steal, even violate the contract terms, all to their advantage. If big money was not involved these people would have been very polite and honest. It is the temptation of the big money involved that makes then dishonest. But the investors should mould the developer, educate him (irrespective of his terrible background), and when they see investors are serious, ALL DEVELOPERS WILL LISTEN AND COMPLY and become honest again. Why? The answer is simply again the same " BIG MONEY IS INVOLVED. Remember 50 % payment only to be paid untill project is complete. Investor should pay according to this scheme. 25% on handover and remaining 25% after handover in installments. Pay after seeing progress physically. Do not pay for promises for castles in the air. This is according to the orginal contract deal.
B14
I stoped on April 2009, however i have already paid 140k for my purchased flat worth 320k, so me too almost half i paid ..what a amazing investment i have done!!! i could ride best car for 140000 ,instead of paying the stupid project..any way there is no use of regreting at this stage..
i visted site on 22.1
i visted site on 22.1 .10 n0 work ,no single person in all ranbow projects , no progress since 3 months only one poor indian engineer in site offiice just to cry when i told him i will stop paying , went to the main office ---> no answers for my ?? i decided to stop payments , closed the current account , no money untill significant progress 20 floor at least for the 55% i paied for them , this is my thinking or let them cancel the contract with 50% cut although they are the defaulters not me but i accept 50% refund even if after years better than reach 90% and stop bec all of us will reach point to stop , clever people stopped eariler , this is my mistake and i must suffer now better than late
B14
I had a peek on photo of Aug 2009 it was 5th floor and recent photo is almost 7th floor which means ,every 6months 2floor !!! lol
by the way how many floor is B14 so i can calculate the number of year till complation !!!
working still on
i was there on the 8th of december2009, i did see all the work they do, they do work non stop, sweet homes are OK, not like Lake view which i am lake view investor, i m not home sweet investor, you shouldnt be worry because the importent thing is sweet homes got an escrow account, it means you are safe.
But there were no Electricity, water, road/street behind all emerate city(Including sweet homes), was like a desert...
I think they can build road/street and other facilities very quick if some of emerate city towers complet it
Work stopped on B 14 ?
There is no floor added in the past one month. (See the pictures posted on 3.12.2009) That means the construction work has been stopped. But the SH administration still insists the completion date is Dec. 2010. Some Gennies will come for the construction?
Drirfanorth is right. There
Drirfanorth is right. There has hardly been any construction in the last pne month. This is not good. Are you paying Sweet Homes?