Shocking News! We all have received a cancellation notice from Star Giga
:O
Dear Friends,
Shocking News! We all have received a cancellation notice from Star Giga. It is now high time to start our battle for the justice. Here are our concerns:
1. The payment schedule signed and agreed upon by us, has become null and void by Giga. How come? And By which law? Isn’t it unjustified?
2. Water and electricity supply problem was there at the time we signed the agreement and this doesn’t seem to be sorted out for the next few years. How can they stop construction due to the same cause?
3. The delivery of the apartment has been delayed for three to five years and Star Giga has been exempted for paying any penalties.
4. As of today construction work of the building is not in progress and surrounding area of the building still looks like a desert.
I believe this un justification by Star Giga is beyond imagination for any investor.
Cancelation Notice from Giga?
What exactly do you mean by this?
Have they sent you a letter announcing the cancellation of the project, I.E. they are not going to build it and refund your money?
yes I also received the mail
yes I also received the mail
GCD from SSC
Hi All,
Just to make you aware, these Star Giga crooks emailed me the following final notice for non payment with the warning that they will cancel the contract and forfeit the money I have paid until I make the overdue payment to them.
My frist reaction to these ediots was to tell them to "Go to Hell".. but then again, they probably know that and now using deperate measures to hoard more money off people.
I am going to meet them in their office tomorrow to inform them that they are in breach of the contract and not us and that they have until July 2011 to complete and handover the project or we have the right to CANCEL this contract and legally get our money back.
Please take a note and read the CONTRACT carefully, item 16.1
In the event of "FORCE MAJEURE" if the "completion date" is delayed by more than 2 years then the buyer has the right to terminate the contract and give a written notice to seller. They are then by law required to refund the money within 60 days.
Now the completion Date in contract is: July 31st 2009
So that means by July 31st 2011 if they dont handover the completed project STAR GIGA are in BREACH OF CONTRACT and we can give them a written notice of termination.
Here is the email they sent me recently
====================================================================
Hereference is made to our previous correspondences notifying you regarding outstanding amount towards the purchase of the property mentioned above.
We have noted that your account is in default and you have not made any payments in the recent past. You have till date paid only 30.1% of the unit purchase price. As you are well aware, the non-payment/delay in payment by the Unit Purchasers will abate the progress of any off-plan real estate projects. Our project is also behind schedule due to the non-payment/delay in payment by the Unit Purchasers and oppressive market conditions. Nevertheless, we have completed above 30% of the total project and the work is progressing in the site. The certificate of the project consultant is available on our support desk: http://crm.stargiga.ae/answer.aspx?aid=13192.
We are now constrained to issue this Final Notice of Overdue Amount since you have defaulted in making payments even after our previous demands/notices for payment.
You are hereby requested to make payment of the overdue amount of AED 74,557.00 within 30 days hereof, failing which we shall initiate proceedings to terminate the contract as per the ARRA guidelines (you may refer to the ARRA guidelines here: http://crm.stargiga.ae/answer.aspx?aid=13193) and forfeit all amounts paid towards damages. We also reserve our right to claim any further damages as per the prevailing laws.
A summary your account statement as per our records and the details of our escrow account details are enclosed herewith. If there is a reason why these payments have been withheld we would be obliged if you could contact us in order to either explain the reason or come to some form of payment arrangement.
Please disregard this letter in case you have already deposited the due payment in the project escrow account.
Please do not hesitate to contact our Customer Relations staff in case you need any further clarification with regards to the above issue.
We thank you for being our customer and are further grateful for your timely payments.
Sincerely,
The CRM Team
Star Giga Establishment Limited
Star Giga House, Office# 3 - Mezzanine floor
Next to Oasis Centre, Sh. Zayed Road
PO Box: 29193, Dubai, United Arab Emirates
Phone: +971-4-330-7640, Fax: +971-4-330-7641
Goldcrest Nightmare Continues!!!!
Hello Josau,
I got exactly the same email as well and I'm totally disgusted by these people, where do they get off hey.
At least you guys can pop over to pay them a visit but unfortunately I'm unable to do that being from the U.K.
Where do we honestly stand with these people. I wrote them an email the last time they asked me for payment and I never did pay but told them by email exactly what I thought.
I'm really lost, not sure what to do now, all that hard earned cash down the drain.
Please let me know if anyone else is in a similar situation and what they intend to do. Perhaps someone is going to pay them a visit soon, if so I'd like to know what they say.
All the best
FORCE MAJEURE
It seems as though they want to pressure us into paying the amounts due prior to the July deadline question is can they get away with canceling the contract and if so on what ghrounds? do we pay them the amount so we are covered at least until July?
Solving the problem
Hello all GIGA STAR’S members. I am also surfing like you all. Lets join hands together and proceed with the legal action.
Until unless we join hands together we will not be successful to have our rights.
I Request all of you to meet together to take an appropriate action.
With regards,
M.HASSAN
We agree with Ali
We must all to go Ajman Real estate regular authority to submit for concern legally. This is option only we have with us
Shocking News! We all have received a cancellation notice ....
I too have received a similiar notice. I am very upset. I agree with Ali with regards to ARRA. However I believe we need to unite and form an Investors Pressure group to speak with one voice with ARRA and demand justice for the long suffering investors. It appears ARRA is biased towards the developers. This has to change before they sanction cancellations. Is there anyone residing in UAE ready to take this challenge and lead the group?
Just to make things clear,
Just to make things clear, this is not cancellation of the project notice, this is only for people who have not paid up to date. i.e. paid up to the progress of the project - please refer to arra's web site to find out the actual official progress stage for this development. If you have made payments according to the progress then you will be fine - Star Giga wont have a leg to stand on!
Paul
Progress
Is this progress according to the derveloper or actual progress on site?
Progress GCD
Again and again, as per ARRA web site the progress is 20% to 30% and not more. The only reference here is ARRA. Star Giga keep insisting on a progress report issued by Adnan Safarini's office, but they are bias.
Hi
Hi Everyone, I am new to this forum and I found it by researching about Goldcrest on the internet, reason being is I am in exactly the same position as all of you, I too received the above email about cancellation just a few days ago, my mum was in Dubai last month and visited their office in an attempt to come to an agreeable payment solution but unfortunatley was unsuccesful (I dont think my mum had any chance againts these thugs anyway) I am very confused about what to do, what is t he solution to all of this and should we risk sending more money in the hope that we will eventually get a flat or just not send any more and also forget the previous payments we sent?
I have recieved the same.
Hi all,
I have also recieved the same notice. I am not really sure what to do. Josau seesm to be on the ball in terms of the legal side of the issue. However, I am not really sure whether its going to work. Everything looks up in the air. I still dont think anyone who hasnt paid should pay and hope that this gets resolved somehow. Couple of questions. If they want to cancel the project and forfeit our money, would they have to go thtrough some legal procedure? Are we aware how many people are in the same position with regards to GCD1? Thanks all. I hope that there is some solution to this mess!!!!
To rectify
Just to rectify: I haven't received this notice, as I have invested in GCD2, I just copied and pasted a post from SCC forum, in order to share the note and the reaction of yet another investor.
IMHO Star Giga has no leg to stand on. As of ARRA web site, the project is on hold, and NOT progressing as they claim in their mail. Also as per ARRA web site the new completion date has not been approved by ARRA.
Please click on the link underneath to see details from ARRA web site:
http://i55.tinypic.com/wkiadl.jpg
http://i55.tinypic.com/2z8orw3.jpg
I have opened a separate thread on this forum concerning this matter.
On top of that, you all have signed a contract, most of the investors have not signed anything else, so why would Star Giga's revised payment plan and completion schedule be of any legal value? When you change the clauses of a contract, you need both parties to agree on. Also: are the buildings really over 30 % completed? They claim the reason for stopping the construction was the due to the fact that investors stopped paying? Look back: construction stopped in July 2008, I was actually on site with Imre then and since, there hasn't been any progress. It was after July 2008, in december to be exact, that Star Giga asked all their investors to stop paying until further notice. The reason given then was, that the infrastructure problems need to be resolved first, before resuming construction. The infrastructure problems are still not resolved, the only thing is, that the LONG STOP handover date is approaching fast ( JULY 2011) and by contract Star Giga would have to refund all investors, which they are unable to do, they have NO FUNDS.
GCD2
And as of GCD2, for which project Star Giga has sent out payment requests a couple of months back, too, the project is STILL NOT APPROVED by ARRA as per ARRA web site, which has been put up to date very recently, btw.
Next step
Basically, what is the next step?
I have no clue about the legal issues in the UAE, I have herad that their legal system is a bit of a waste of time, so is there anything we can do?
Final Notice from SG
Dear All
I have just joined this group but have been reading up most of the threads in the past on skyscrapper city. Like everyone else I have received the same final notice e-mail from SG.
We need to start sending complaints to ARRA and be shifting the pressure on the Authority. I have recently found out from a friend who has invested in sports city that the Escrow account is not as secure as they have made it sound. His particular developer has cleaned the Escrow account and went on the run.
In summary:
1) Breach of contract by developer: "FORCE MAJEURE"
2) Revision of contract without written consent from customer
3) Request for further payment without justified reasons (no progress in the past 3 years)
4) The developer took risk of starting development with no infrastructure gas, electricity in place (and we were not informed of this when they sold us this project).
scary giga
im even taking thing matter with ARRA, and my man is there in ARRA right now.
u dont have to pay until bldg ready!
according to the contract i signed the project suuposed to be finished end of july 2009 and if not, the long stop date was jan 2010(in my contract). By this time i have to pay only 40% and the balance 60% to be paid in 2 years time after the hand over! so far i have paid about 38% and im not going to pay a single dhirhams until the flat hand over to me.
rgds
faisal
confused
@Faisal, me and my husband read the contract thouroughly last night and u r right, the long stop date does say jan 2010, I emailed star giga and said i want someone to contact me regarding the payments but they havnt replied, the email i received says that we will lose all money paid if we dont pay what they are asking for, what if they do that and we lose everything we put in to it? I just dont know what to do? the best thing for me would be to stop further payments and just get back what I paid, but i think that is unlikely, although the contract does say that if the property is not handed over after the stated long stop date that we the buyer can cancel the contract, is that something we can do? I am just so confused about what to do, living here in the UK, I cant even go there and pop in the office or go to the construction site or anything, and they dont respond to my emails.....its very frustrating
better to contact arra
@ sammy: i cant say u to take it easy! because the situation isn't easy for all of us. i live here in uae and i have very frequent contact with star giga and ARRA(ajman real eastate regulation authority).
I gave a print out of the same email in which they ask for money to my man who went to arra, mr omar barghouti, (director of arra) got very angry and threw the paper and told my man not to worry. then arra called giga for a meeting and waiting for the result, i will post as soon as i have any news.
star giga staffs are very .... i dont no what to say; i always fight with them on the phone. they never reply to any mail! they will only send mail for asking money!!!
Gold crest .payment claim
I have also received the same threatening email and plz come farward and to lead this issue with joint efforts.
I am Uk base and available on 00447919997167 srs_786@hotmail.com
Regards
Goldcrest Nightmare Continues!!!!
I have tried emailing you in the past but never got a reply. I'm also a UK based investor that would like to collaborate with others to see what can be done.
We loss everything, from where we get the justice
We had singed the sales agreement in the month of September 2006 and & the basic terms & conditions are as follows :
1. An Easy Payment Schedule financed by the developer suitable for middle income investor was followed which is as stated below :
i .) 35 % payment during construction
ii. ) 17 % on handing over the apartment
iii. ) 47 % while living at the apartment.
2. Completion Date was set before July 31 , 2009 & Longstop Date 31 January 2010.
3. If the seller is unable to deliver vacant possession of the unit by the long stop date the seller shall pay interest to the buyer on al the payment made by the buyer.
We, all the investors had been paying our monthly installment on time , but just 06 months before the completion date of project, Star Giga had informed us that the construction work had been stopped due water & electricity supply problems. Here we would like to highlight for you that at this stag the building structure was supposed to be completed at least 70 % according to payment schedule before they stopped the project. As you know that it’s not even 30 % completed as of today.
After 2 yeas since then, Star Giga stopped that construction totally and they have announced to restart it again without any guarantee that water & electricity will be there on completion. It gives little hope for us the investors at least to recover our investment, which is around 30 % of purchase price.
We now understand that Star Giga has imposed us a new payment schedule, where in all investors are obliged to pay 100 % balance payment during the construction period only by making the original payment schedule null & void from one side. Unfortunately the new payment schedule is not suitable and convenient for majority of investors due to their financial obligations. An easy payment schedule had attracted GoldCrest Dreams project for most of the middle income investors who’s financial planning was according to original payment schedule only.
We all are not financially capable to accept Star Giga new payment schedule under any circumstances.
During last week we are shocked to receive a cancellation notice from Star Giga blaming the investors that they are not accepting the new payment schedule even without any construction work in progress.
A payment schedule similar to original payment schedule & make work in progress only will bring all investors back on line
Hello all GIGA STAR’S
Hello all GIGA STAR’S members. I am also surfing like you all. Lets join hands together and proceed with the legal action.
Until unless we join hands together we will not be successful to have our rights.
I Request all of you to meet together to take
Yes!!
Lets do it brother, how do we start the ball rolling, who is willing to represent us?