Emirates City Forum

Do any body contact the new owner? i tried them yesterday evening but no answer.

Regards,
Haddad

www.albatharealestate.com is not working

You are 100% right .It sounds like the same company as Lake View(cheating co)In my opinion the investors should not believe everything readily(especially now) in the name of optimism.

Can you please tell us your source ?

I have asked the lakeview office, they told me they will not cancel the projects of LVT4 and LVT5. Due to the market situation now, they will build LVT1-3 first from next week, and will start LVT4-5 later.

Off course they may not telling the truth. Could you please advise the source of your information?

who else received that email ?

I guess if you dont own in those towers you dont get a email ?

I am an investor in their TOWER 4 and I did not receive any mails regarding the future of LVT4&5. Do any one knows any updates about these towers.

+++ «ARRA» warns of the Declaration of mock real estate projects
Barghuti: Ajman help real estate investors affected by the «crisis»

+++ Real estate investors took advantage of lack of knowledge of the market gave them the account numbers and bank account as security for the project.

Ajman plans to help real estate developers and investors affected by the global financial crisis, who have been affected by the slowdown in the sector against the backdrop of the crisis.

The Director-General of the Ajman real estate organization «ARRA», Omar Barghouti, said that «the institution is responsible to the investors and to help them and provide them with help for the return of legal rights in various ways», adding that «the Foundation is working to find a balance in the market, and the preservation of the rights at a time the same ».

He stressed that «the Foundation is working to complete agreements between developers and investors in real estate projects are lagging behind, to ensure that the loss of the investor or developer».

The «are studying the options available to investors, to give the investor the opportunity to come out of the project or be replaced by the project exists, without loss or gain, at the same time».

He said that «the process of real estate projects is not an easy process, but governed by the criteria, projects are stalled, but it is now difficult to judge the project cancellation or postponement».

He revealed that it is currently studying the status of some projects, and will be announced later on the findings of the study.

Traders

Al-Barghouthi and the «Today» that the «real estate speculators taking advantage of the absence of regulation in the past, and who manipulates the market by raising prices to unreasonable levels, and are not acceptable», adding that «those who made the leap, have no jurisdiction to enter the speculative market, causing to later problems for them, this has taken place in most countries of the world ».

He warned that the announcement by the offices of real estate projects in Ajman and the bogus and called for investors to return to the institution prior to entering into any real estate project, and revealed that «institution seized a number of phantom ads during the last period, including advertising on the Internet for the sale of real estate in Ajman, and to obtain a visa in a European country ».

He said that «the global crisis and its effects locally, the image shown to the many people who worked in the market», said «there are intrusive to the real estate market of purchasing decisions made without reference to the specialists, which led to their involvement in the problems», pointing out that «money owners rushed for purchase and they know that the market may lack some of the controls that ensure their rights by 100% », he asked« Where the calculation of the degree of risk when it made the decision to purchase the real estate market? ».

He pointed out that «Ara» receive complaints from the investors do not even know who bought the site of the tower, and had «the Foundation has taken action to control the real estate ads, with the follow-up ads that local newspapers are published, so as to ensure the accuracy of the information published by real estate companies».

Developer registration

The institution imposed for the organization of Ajman real estate «Ara» earlier delay by a fine of 100 thousand dirhams per month, for all the developers who engage in the activity of real estate development in Dubai, did not initiate a review of the institution to be registered in the register of real estate developers, and the first day of May last Deadline for receipt of applications for registration of property developers.

Barghouthi stressed that «the institution is currently registered developers who have projects in Ajman, as it is to charge real estate projects for developers, where they are building a comprehensive database of all projects including all the technical and financial information on each project».

The Foundation asked the real estate management, earlier, investors not to pay any mortgage payments to a project only after the activation of the real estate escrow account for the project, and to make sure that the developer has an escrow account and the account number is announced by the real figure for the project.

He said that «some companies took advantage of lack of knowledge of the real estate market, real estate investors, and gave them bank account numbers are not the escrow account of the real estate project, and discovered later that it accounts for corporations». He pointed out that investors have become more comfortable now after entering the institution as a player in the market is controlled, and had «the Foundation is currently working with the Institute, inter alia, real estate in Dubai to control the real estate brokers, to require brokers to obtain the courses leading to work in the area, and then registered in the register of intermediaries ».

Project stalled

With regard to the stalled project in Ajman, he said that «the Foundation is considering a project by project basis, and the dialogue with investors and developers on how best to deal with the project, both of cancellation or postponement of projects or merge or transfer to another project investors», stressed that «the institution now examine the current status of projects through registration and accounting, so as to determine the fate of each project », pointing out that« the goals of the Foundation is to create balance in the market, and the preservation of rights ».

He pointed out that «there are cases will be found to transmit them to eliminate in order to assist investors to recover their rights», stressing that «the Foundation seeks to find solutions satisfactory to all parties on different issues, to preserve the rights of investors in Ajman real estate market».

The Barghuti that «the real estate market is not facing the problem of a slowdown in sales, but the crisis lies in the absence of the real estate finance; If the bank has provided the encouragement of the Central Bank of the necessary funding, the market will soon once again to the stability».

Investors

He pointed out that Barghuti «Finally, the Foundation signed a memorandum of understanding with the organization in Dubai, real estate, real estate to exchange information and coordinate projects for the registration of real estate companies and developers who are working in Dubai, Ajman, and vice versa».

The Convention focuses on the creation of a unified vision for the development, modernization and organization of all activities in addition to real estate offices, real estate, and those working in the field of mediation and management of real estate and real estate development.

Barghouthi said «the first step for the establishment of a unified real estate database to ensure the continuity of the market and promote the principle of transparency, where we will work to create a unified vision for the development, modernization and organization of activities of all real estate».

He added that «the problem of the Foundation is currently seeking a (rich de Venture), based in Dubai to ensure their ability to complete the project in Ajman or it will be through the legal rights of investors, are also being coordinated with the competent authorities in Dubai about the company».

Did u ppl go and meet LVRE.
What was the result of ur meeting.pls keep us updated.

Mr Indiantiger,
Stop attacking people(who are trying to help) personally. Everyone is worried about their investment in LVRE at this point. Your so called developer forgotten investors in LVT 4 &5 .For them we don't even exist. Since u seem to be their agent why don't u remind them and don't show ur class by posting crude remarks.THANK U zp296 FOR UR SUPPORT.

DO you work for LV? Seems like you do...

and im pretty sure.. your money is not invested with them...

Mr. Digital DNA, for your kind information i do have investment with the LV 2 and 3 and after receiving the information of transferring management to Al Batha Real Estate and there construction resuming schedule i am bit relaxed. i understand that there is a problem for LV 4 and 5 but you should not making unwanted pressure on all LVT's investor. I think we are free to express our views on this forum.
Nothing Personal.

One thing i have learnt from this whole thing is that you really cant trust LV, or anyone asociated with it.

yes.. i have heard LV 1, 2, 3s construction is about to start... which means they will ask for more money soon... And what do you really know about these builders.? how long has the company been operating for? who owns the company.. is the person in any way associated with Aman Qureshi? Before people start getting optimistic.. people do need to know who tey will be dealing with...

Lets see when the construction starts, how many breaks they take... how many laws they break.. how many months will it take for the registration and escorw to go through..

LV's signature move is to buy time. Please do not forget Aman Qureshi has been black listed... That itself is a big problem.. Its only a matter of time before the police get to him... and the LV offices are siezed.

Why do you think theyre closing their offices? what do you think Aman Qureshi has not been to his office in 4 months? He lives in dubai.. why do you think he could not take a few mins out to go to this office?... because he cant... cause if he will.. the CID will get him...

He has been giving people post dated cheques... which have bounced... many times..

a total of 6 cases have been filed against him... by the end of next week , im estimating another 5...

These people have stolen money from investors.. and there is no doubt about that.. lets hope we can get it back./...

I have been told that LVRE received about 150 millions from investors for 3 towers. And they already paid 75 millions for the 3 lands. So if the 3 lands re-sold maybe we will get around 50%.

the above will be our position with LVRE if they failed to build.

No Developer got registration with ARRA. I guess LVRE is on top 10.

So LVRE has done it again. No work has started today as promised by them to all the investors in the last few weeks. I am not sure if this will ever work out. However I still dont believe how these people sleep in the night while lying a 1000 times in a day.

This Al Batha will probably do the same. Get more money out of us and then run away. A company who can not even develop a website (less than 5000AED cost), how will they develop a building and I guess there are only 3 people there. Who is their site engineer and why they only provide the info of their accountant.

who is applying for Escrow account? Is it Al Batha or LVRE? Many of us have paid nearly 25% - 50%. would they build atleast 50% before asking us more money? Does any one has any answer? I am so fed up that I have started to think on any future payments.

Ajmanflat I agree with everything you say. These so-called developers are theives and nothing more. They have lied to us, wasted our time,effort and especially our hard earned cash. How can we trust them anymore??. LVRE have really p****d me off. What a bunch of useless dimwits.

To all investors in LVT 1

I had an written agreement with Lakeview real estate in February saying they would not bank any further cheques until an escrow account had been made and progress on the construction would recommence. So in May when three of those cheques were presented I stopped them and asked for an explanation. Finally was told that another company had taken over LVT1-3 and after speaking to Mr Bakar of the new company saying what they did was wrong have not had any responces to emails or phone calls from LVRE or the new company. Their email address does not work.
Mr Bakar said there was not yet an escrow account in place.
I feel we should report both companies and get full and complete disclosure of thev status and position of the escrow account.
I would welcome your comments if you are involved and jointly seek a legal meeting with both.
Regards,
Leon Tautz
0509800187

Thank you for spreading the word..

Could you please send me your information as well..

ThanK you

Dear Friends.

I am sorry i was unable to call all of you personally to invite you for the meeting. I will try to call the rest tomorrow.

As i mentioned on the phone. I have scheduled the meeting for Today, Sunday 7th June , 7P.M. @ GLORIA'S JEANS COFFEE , located at the CITY CENTER MALL, DEIRA DUBAI.

The reason i have picked this cafe is because it is in a somewhat isolated area of the mall. So traffic and noise is minimal. Plus this was the only cafe that was willing to host a large group of people.

Im expecting to meet at least 15 investors. So if you havent received a call from me, please treat this message as an invite. Please come if you can. I understand that this might be the first time you are hearing about this. I have been requesting contact information from everyone, so i could only call the people who got in touch with me. For the rest of the investors, im posting it here.

If you can , please bring your investment particulars.

I have arranged everything.. and all you have to do is come... The idea is to meet as many LV investors as possible. You'll get updates from all investors . My team and I will be there to answer any questions you have. We will also be discussing possible stratagies..

Hopefully, we can come up with a combined strategy to deal with Lakeview. Together .. as one unit.

So please do not forget...

Sunday 7th June, 7 P.M. @ GLORIA'S JEANS COFFEE , located at the CITY CENTER MALL, DEIRA DUBAI.
Gloria Jeans is located on the top floor. Right outside the Mall enterance of the Sofitel Hotel (The sofitel hotel is connected to the mall, so this is the mall enterance to the hotel)

If you have any questions.. please send me an email
lakeviewscam@gmail.com

Please send me an email , If you will be attending or not, so i can take care of any space issues that may arise while we are there. Just a 1-2 word email would be enough. "Attending".. or "Not Attending" should do it.. I would appreciate it if you could also add your name, and investment to the message.

Looking forward to meeting you.

Thank You..

DigitalDNA

Sorry but I am unable to attend this meeting, as I have young children, however please include me in your group of people ready to take action. I have apartment in lakeview tower 2 and unfortunatly have paid in full. so you can imagine my anger.

I look forward to hearing the outcome, and am willing to do anything to retrieve our money from these unthical people.

dear fellow investor. please let us know what happened at the meeting on monday. Have we decided to take legal action as a group. this is the only language these people will understand. I feel so frustrated because there doesn't seem to be anyone you can get answers from and nothing has been set up to protect investors. we need to take action now