Some good news for Dubai and the UAE
Some of the travel agents I know personally in the UK have seen a huge increase in holiday and flight enquiries to Dubai recently.
They say it is because of all the negative Dubai coverage in the media, and is resulting in many middle class people (who would have never even thought of going to Dubai as it was perceived as a 'Rich mans paradise') to booking holidays there.
This is great news. We should thank The Times, Daily Telegraph and all the racist British media who thought they had the last laugh but actually is going to help fast-track tourism to the country instead. Well done you c*nts - much appreciated. ;)
Paul
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wha is arra going to do with
wha is arra going to do with projects & developers which are not register yet? what will happen to such projects investors payments?do they loose their money or the government suport them?
Arra to help buyers in stalled projects find new property
By
http://www.business24-7.ae/Articles/2009/12/Pages/12122009/12132009_33fc...
Parag Deulgaonkar on Sunday, December 13, 2009
Ajman Real Estate Regulatory Agency (Arra) has worked out a new plan to help investors who have lost money to dodgy developers in the emirate, Emirates Business can reveal.
Investors will be offered the option to select properties/units in projects of approved and listed developers, with the agency playing a co-ordinating role to strike a balance between the new developer and investor's expectations, said Arra Director-General Omar Al Barguthi.
"We will play a co-ordination role and make sure that both the parties agree mutually to a contract."
He said this means that if an investor has paid a booking amount and some instalments to a developer who is not available, then Arra will try to help reach an agreement between listed developers and the investor on discounts against part of the money that the latter paid on the previous project.
Asked if Arra will guarantee the amount to be paid to the developer, Al Barguthi said: "We will not compensate him, but we will make sure the new developer strikes an agreement with the customer that will meet his expectations."
He said the agency has a handful of good, reliable developers who were offering such schemes.
"Investors can select on their own from the list of developers that we have, but we urge them to follow the process through us," he said.
Earlier in November, the Arra chief said the agency may consider transferring a project to another developer for completion if the original developer has absconded, provided all parties accept the option.
"Although this is not such a simple decision, we will take a step that is conducive to protecting investors' money. If by doing so we can help both the investor and developer alike, we will do it," he had said.
According to the regulatory agency's website, 134 projects have escrow accounts to date. Arra has also recommended that the Ajman Government establish a dispute committee that would be entrusted to resolve real estate disputes. The committee is expected to be set up by year end.