EMIRATES LAKE TOWERS

-51 Towers.
-Located adjacent to Emirates City.
-On main Emirates Road (Ajman).
-80 Acres Land.
-Development Value over AED 10 Billion.
-G + 50, G + 30 Residential, Commercial and Retail project options.
-5 Star Hotel.
-Shopping Arena.
-Parks and Lakes.
-Mosque.
-Master Developer: Chapal World, LLC.

Sounds great. Having joined the party quite late I missed out on some of the developments I was hoping to get in Emirates City so will keep an eye on this one! Do we know the exact location of this in relation to Emirates City? Also any views on the master developer - Chapal World?

^^ Yes I have the location map which I will try to scan. The project is next door to the Emirates City (just south) on main Emirates Rd.

51 towers here

Emirates City 92 towers

+ Marmooka City+Awali City

2-300 new towers for Ajman
:)

http://i28.tinypic.com/23k3ot1.jpg

These are definitely exciting times for Ajman. The emirates road area is beginning to take off in a big way. It'll be interesting to see what prices these new towers are launched at, that will be a good test to see how much Emirates City really has appreciated.

Thanks for the scan. Yep Ajman is really lifting off, seems like a new project is announced every week :)

With so many project and so many towers, its getting increasingly difficult to pick one to invest in...not that I'm complaining ;)

Does anyone know when this is launching (or pre-launching even)?

We have just managed to buy a one bed apt in Chapal Corals Tower with a part lake view.

Anyone else bought in this tower?

yeaah i i bought mine a few weeks ago chapal corals one bedroom as well.....have u recieved ur contract yet ?

Chapal World unveils Dh10b project

By Suzanne Fenton, Staff Reporter
Published: June 01, 2008, 23:35

Dubai: Dubai-based developer Chapal World on Sunday launched a Dh10 billion mixed-use project, Emirates Lake Towers, in Ajman, boosting the company's portfolio to around Dh15 billion.

Spread over 21 million square feet, the project will comprise 51 towers, a mosque, a school, retail space and a five-star hotel.

Ahmad Chapel, executive director of Chapal World, said: "This is just the beginning. We're planning to do much more. Our aim is to build cities internationally."

This latest project brings the company's total portfolio to around Dh15 billion. The company on Saturday reported sales of Dh250 million with the pre-launch offer. Also included in the development is Chapal Dunes, a residential block and the 50-storey commercial tower, Chapal Signature. The combined value of these two towers is Dh900 million.

The average price for apartments starts from Dh515 per square foot.

Chapal said that the total construction would take around four years and levelling work would begin in about three months.

Chapal World has many more projects in the pipeline, including Flora Residences, a development of 1,500 to 1,800 villas to be launched after summer. Another project planned for this year is a Dh500 million development in Jumeirah Village South.

(gulfnews)

Anybody bought in the Chapal Dunes?? They are offering 7% dicount??

51 towers here

Emirates City 92 towers

+ Marmooka City+Awali City

2-300 new towers for Ajman
:)



Amazing, but how will all these people drive to Dubai in the morning and from Dubai back in the evening. I would be suprised if anybody had thought about it... :ohno:

Dh10 billion Emirates Lake Tower launched in Ajman, UAE
http://i28.tinypic.com/wkn69e.jpg
Master Plan of Emirates Lake Tower, real estate development in Ajman, UAE
02-Jun-2008

Chapal World, Dubai-based real estate developer, has launched Emirates Lake Towers, Dh10 billion mixed-use realty project in Ajman, UAE. Spread over 21 million sq ft, the project will comprise 51 towers, a mosque, a school, retail space and a 5-star hotel.

Emirates Lake Tower is a master development that brings the real estate firm's total portfolio to around Dh15 billion. The realty development also features is Chapal Dunes, a residential block and Chapal Signature, 50-storey commercial tower built at the combined value of Dh900 million.

According to the real estate developer, Emirates Lake Towers will require a total construction time of 4 years and leveling work would begin in about 3 months.

http://www.gowealthy.com/gowealthy/wcms/en/home/news/real-estate/Emirates-Lake-Towers-launched-1212395349169.html

Lake Signature launched at Emirates City, Ajman

http://i26.tinypic.com/idca5j.jpg

04-Jun-2008

Gr8 Real Estate, a leading real estate developer in the UAE, has announced the launch of Lake Signature, residential project located at Emirates Lake Towers, an extension of Emirates City in Ajman. The real estate project will feature 30 floors and will offer a selection of studios, 1 and 2 bedroom units with 100% ownership and UAE residence visa.

Syed Rehan Bin Warris Gillani, Director, Gr8 Holdings, said, " Our vast experience in the handling of sales of properties, management of properties, leasing and brokerage has earned us the trust and respect of the industry professionals and our client base".

Lake Signature real estate development in Ajman will offer spectacular views of the lake. The development boasts of ample parking space, spacious lobby, health & leisure amenities and round the clock security.

http://www.gowealthy.com/gowealthy/wcms/en/home/news/real-estate/Lake-Signature-launched-at-Emi-1212563055965.html

yeaah i i bought mine a few weeks ago chapal corals one bedroom as well.....have u recieved ur contract yet ?
Hi Faisal 107, We haven't got our contract yet but normally you only get them when you have paid 30% - we have only paid our deposit and one installment so do not expect to get the contracts yet.

We did however get a welcome letter and a receipt for the money we sent.

I believe from our Agent in the UK that Chapal are reputable developers and that they have never had a problem with them in the past.

So how's it supposed to work, that you pay 30 percent and only then you get to see in the contract exactly what it is they will deliver to you? That doesn't make sense. A normal transaction will reveal all the details of the contract at the time of the signing.

Hey does anyone known when chapal corals is gonna start building? and when its actual completion date is?

Is Emirates City Extension and Emirates Lake Towers the same project? What is the big square project (White in most maps) within this development?

http://www.safahomes.com/project/Money%20Tower/Money%20Tower.jpg

http://www.safahomes.com/project/Money%20Tower/Money-tower-location.jpg


Property Amenities
Residential Visa and Absolute Ownership Stunning Lake View Four High Speed Elevators High Quality Finishing Roof Top Swimming Pool, Health Club, Gym, Jacuzzi and Sauna 24/7 Security Service and CCTV Monitoring and Maintenance One entire recreation floor Mosque State of the Art Lobby Play Area Library Executive Meeting Room



Property Description
Residential projects known as Money Tower in Emirates Lake Tower Ajman. It has G+19 floors building. It consists of elegantly finished one bed, one Bed+Study and Two bed room apartments. Money Towerwill be ready for possession by end of 2010. We have already got good response from the investors, justifying their confidence on the team comprising the promoter.

Payment Plan
20% On Booking 10% Every 3 months COMPLETION: DECEMBER 2010

Chapal world the developer has no taken anything off the ground yet for all their project starting from the first. All their project are under the sand. Chapal the destiny is still in its foundation early stage and they claim completion in 2009. How they are going to do that? Any one knows

Hi Faisal 107, We haven't got our contract yet but normally you only get them when you have paid 30% - we have only paid our deposit and one installment so do not expect to get the contracts yet.

We did however get a welcome letter and a receipt for the money we sent.

I believe from our Agent in the UK that Chapal are reputable developers and that they have never had a problem with them in the past.

Don't bet on Chapal .They are full of trickery !

Don't bet on Chapal .They are full of trickery !

Why do you say this?

Hi Faisal 107, We haven't got our contract yet but normally you only get them when you have paid 30% - we have only paid our deposit and one installment so do not expect to get the contracts yet.

We did however get a welcome letter and a receipt for the money we sent.

I believe from our Agent in the UK that Chapal are reputable developers and that they have never had a problem with them in the past.

Hi:
Have you received your contract yet. I hope you did.
If you have not I think you'd better start looking for legal advise.

High-Res plot map:
http://www.jrefreehold.net/site/emirates_lake_towers/emirates_lake_towers_master_plan.jpg

I purchased a two bedroom apartment in Chapal Corals at pre-launch in Grand Hyatt on 31/May/2008. Paid 5000/- AED on booking. Also paid 10% within 15 days from booking. Next 10% is due by the end of 60 days from booking which is end of July. Still no sign of contract.

What is other people's experience? Project looks nice but terms and conditions are not clear.

Communication is not strong from developer.
yasar2002@yahoo.com

Hi we have also bought in Chapal Corals and paid 20% up to July. We haven't received our contract yet though but to be honest we have bought 2 other apts in Dubai and we only received contracts for them once we had paid 30% so we aren't too worried yet. I did notice some of the adverse comments about Chapal on this site so was obviously concerned, although we do take some of what we hear from sceptics on skyscraper with a pinch of salt.
There didn't seem to be any evidence to back up any negative statements.

I have asked our Agent in the UK to check all is ok - she also has an office in Dubai and has dealt with Chapal a few times with no problems.

Will let you know what she comes back with.

hey guys, I have created a thread for Chapal Corals, it would be nice if you could continue your discussion there:
http://www.skyscrapercity.com/showthread.php?t=667808

Hey Guys , Chapal World is a reputable company. I wouldn't worry. Its normal to receive your contracts after 20-30% in that part of the world. They've got too much at stake, they won't mess around.

Hello this is my first time here and it looks very interesting concerning Ajman projects.
Does someone know the develloper Al Andaleeb????
And is it a good compagnie??
because I want to invest in a project calls Music tower or money tower.
So al info is more than welcome

hey guys, I have created a thread for Chapal Corals, it would be nice if you could continue your discussion there:
http://www.skyscrapercity.com/showthread.php?t=667808

I wondered who set the threads up for each develpment - thanks for setting this one for us Chapal Corals owners.

Shames someone couldn't set up an Elite III sportes Tower in Dubais Sports City as we have bought an apt there too but there doesn't seem to be an individual thread for it. There seems to be Elite I, II, IV etc but not one for Elite III? Are you able to set one up for this too?

Kind Regards

Wednesday, Jul 30, 2008

Dubai: Ajman has around Dh1.4 billion worth of infrastructure projects under construction to support the rocketing pace of real estate development in the emirate. Ajman has the third largest real estate market in the UAE, just behind Dubai and Abu Dhabi.

There are currently six mega projects underway in Ajman, with a combined value of Dh40.8 billion, according to Mohammad Al Zarah, vice-president of Great Properties. This accounts for over 10 per cent of all projects underway in the whole of the UAE.

Projects in Dubai account for 50 per cent of the UAE's construction activities and Abu Dhabi projects account for 30 per cent, according to Al Zarah.

Ajman is now making headway in improving its roads and sewage treatment plants.

"A solid infrastructure is being implemented in Ajman with a total investment of about Dh1.4 billion, Al Zarah said.

Allocation

"This figure includes Dh500 million allocated by the emirate for infrastructure as well as Dh800 million that was allocated for the recently launched sewerage system, which is one of the most important infrastructure projects in the emirate," Al Zarah said.

Following tremors in investor confidence and the lack of water, electricity and road networks in Ajman, the government is now making concerted efforts to create good infrastructure networks to attract more investors.

His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Member of Supreme Council and Ruler of Ajman, and Ernest Nevaratnam, head of investment and projects at Malaysian Mining Corporation (MMC), Malaysia, signed an agreement on July 17 to build the first coal-fired power plant in the UAE at a cost of $2 billion.


By Staff Reporter

© Gulf News 2008. All rights reserved.

AsiaResidenceTowerFirst.jpg i tried to post a picture. Did not work.

http://www.asiastar.ae/asiaresidence.html

Has anyone purchased in BL properties (Royal Plaza)?

The building looks very impressive with smart home features.

Has anyone had experience with the developer? I know they have Altitude Tower in EC which also looks impressive.

Does anyone know the progress on this site?

Have they started levelling yet?

Any info from someone in Ajman would be appreciated.

Thanks,

Dave

Any new floora resedences by chapal

Hi Dave,

I purchased a 2br corner unit in Royal Plaza with BL Properties in May. Their official price list has increased 10% since then. Went into their offices yesterday and they said construction is planned to start after Ramadan in October.

I am hoping Cityscape in October will give a lift to prices in Ajman - I can see 700AED/sqft by years end.

Thanks for the update,

700psf would be a good number if it goes that way.

Cheers,

Dave

Hi Austdec,

Did BL send you the contracts yet?

On the payment plan it states the contracts will be provided after the first 10%. I've paid the first 25% with no contract yet!!!

Cheers,

Dave

Hi Austdec,

Did BL send you the contracts yet?

On the payment plan it states the contracts will be provided after the first 10%. I've paid the first 25% with no contract yet!!!

Cheers,

Dave

Hi All,I had posted few messages however I have just noticed that they have all been removed, I did not get any replies either. How do I find out the reason for the removal of my messages.
Thanks

the reason is very simple, all your messages were SPAM! If you have a question ask it, but don't ask it in 20 threads at the same time.

Thanks

Thanks King, That probably explains it.
Well I will now post the message only once on the relevant topic.
My Question is given below.
HAS ANY ONE GOT ANY NEWS ABOUT THE LIBERTY RESIDENCE BUILD BY MUKATY HOLDINGS IN EMITARES LAKE TOWERS, THIS WAS LAUNCHED IN JUNE 2008 EXCLUSIVELY BY BETTER HOMES. I BOUGHT SOME UNITS AND HAVE PAID SO FAR 20%.
I WAS TOLD THAT I WILL RECEIVE THE CONTRACTS AFTER 20% PAYMENT, HOWEVER I HAVE NOT YET RECEIVED THEM.
FOURTHER I WAS TOLD THAT THE BUILDER WILL OPEN THE ESCREW ACCOUNT AND ALL FUTURE PAYMENT WILL GO IN IT. HOWEVER THE BUILDER HAS NOT YET OPENED THE ESCREW ACCOUNT AND IS DEMANDING OCTOBER PAYMENTS IN HIS NORMAL BANK ACCOUNT. I AM VERY CONCERNED ABOUT THE SAFETY OF MY PAYMENTS AND THE CREDIBILITY OF THE BUILDER. PLEASE CAN ANY ONE ADVISE WHAT IS THE BEST COURSE OF ACTION I SHOULD TAKE IN THIS SITUATION.
MANY THANKS

HAS ANY ONE GOT ANY NEWS ABOUT THE LIBERTY RESIDENCE BUILD BY MUKATY HOLDINGS IN EMITARES LAKE TOWERS, THIS WAS LAUNCHED IN JUNE 2008 EXCLUSIVELY BY BETTER HOMES. I BOUGHT SOME UNITS AND HAVE PAID SO FAR 20%.
I WAS TOLD THAT I WILL RECEIVE THE CONTRACTS AFTER 20% PAYMENT, HOWEVER I HAVE NOT YET RECEIVED THEM.
FOURTHER I WAS TOLD THAT THE BUILDER WILL OPEN THE ESCREW ACCOUNT AND ALL FUTURE PAYMENT WILL GO IN IT. HOWEVER THE BUILDER HAS NOT YET OPENED THE ESCREW ACCOUNT AND IS DEMANDING OCTOBER PAYMENTS IN HIS NORMAL BANK ACCOUNT. I AM VERY CONCERNED ABOUT THE SAFETY OF MY PAYMENTS AND THE CREDIBILITY OF THE BUILDER. PLEASE CAN ANY ONE ADVISE WHAT IS THE BEST COURSE OF ACTION I SHOULD TAKE IN THIS SITUATION.
MANY THANKS
thinkpositive

Does anyone know if all of the plots at ELT are sold yet?

Anyone have a list of the projects in ELT?

Thanks,

Dave

as far as i know 37 plots are sold in elt
i will update u on the projects in a day or 2

06/December/2008

Emirates Lake Towers

good progress of ground,leveling works and already soil tests

http://img176.imageshack.us/img176/4531/imresolt021py4.jpg (http://imageshack.us)

http://img53.imageshack.us/img53/4630/imresolt022zq1.jpg (http://imageshack.us)

Emirates Lake Towers is far ahead in construction than Marmoka city and other projects which were launched along time before it.

Emirates Lake Towers is far ahead in construction than Marmoka city and other projects which were launched along time before it.

^^Maybe because it is sort of an extension of Emirates City.

They are using the word extenstion only becuase of popularity of Emirates City. Even barjal city's developer changed its name to Emirates City Extenstion.

as far as i know 37 plots are sold in elt
i will update u on the projects in a day or 2

Hi Imran,

Did you get anywhere with this.

Regards

There is another tower in ELT managed by BL properties - Times Square.

They say the initial stage of construction has been started already, ground leveling and soil testing has been done and soil testing reports will be on their web site in few days.
www.samamaholdings.com

Piling work will be start in one month time.

:jk: I have some apartments there for sale at 600 PSF.

BL Properties also have another Tower in ELT - Royal Plaza. They have announced that ground breaking will commence late January 2009. :banana:

I have an apartment for sale at Royal plaza for 530/sqft. BL Properties will start piling works in Jan this is confirmed as i went to see them early in Dec.

Can anyone tell me of a good agent for the resale market in ELT?? I have one apartment which I want to sell... it has full lake view.

I am glad ELT is finally on the way.... please keep us informed with photos and latest updates.

Inv

I have an apartment for sale at Royal plaza for 530/sqft. BL Properties will start piling works in Jan this is confirmed as i went to see them early in Dec.

Can anyone tell me of a good agent for the resale market in ELT?? I have one apartment which I want to sell... it has full lake view.

I am glad ELT is finally on the way.... please keep us informed with photos and latest updates.

Inv
You and a few others have apartments to sell wait at least one year let market stabilse - will be good by this time next year

You and a few others have apartments to sell wait at least one year let market stabilse - will be good by this time next year

You sound sure ... how can u be sure? Ajman Government is not that reliable... so am worried about supply of power and infrastructure etc.

Also the developer may not stick to the handover dates.

No escrow etc.

inv.

26/January/2009

Emirates Lake Towers, Ajman

http://img299.imageshack.us/img299/1729/imresolt015hk6.jpg (http://imageshack.us)

http://img177.imageshack.us/img177/9901/imresolt016ks4.jpg (http://imageshack.us)

Imre,

Thanks... well atleast they have somethin built... capony thats about to fall. :rolleyes:

When will BL Properties stard building... this is ridiculous....I am loosing patience with them. They havnt even started on the foundations.

Anyways, I am told that BL and Chapal are among the best and most reliable developers on that Emirates RD side.

Aparently, Marmooka is a mess.... Al Barakah legged it without sorting out people's unpaid cheques.... I know Tiger's project is cancelled cos I was involved with that at the beginning stage as a consultant.... and I kno Emirates City is doin ok compared to the other ones.

Inv.

as I saw the site , leveling-ground works already finished, so constructions can start any time from now.

as I saw the site , leveling-ground works already finished, so constructions can start any time from now.

I spoke to BL Properties yesterday and they said the levelling is done by Ajman Municipality. They are waiting for the plot to be handed to them so they can start construction.

He said we are financially strong, and we will go ahead with all our projects. Aparently they are backed by Zurich bank and they are 2 big business groups in Pakistan joining forces.

So all this sounds positive BUT. ..they have to start construction.

Imre,

What do you think about having a one bed apartment in Ajman in 2011.... will it be worth it... or am i wasting my time and money?

Inv.

Hopefully this "creditcrunch" leave the world and after would be better.

I still believe in Ajman , will be good.

deleted

Yes everything seems to be fine from up here.

But does any body know that Ajman Municipality has not yet approved the handover of ELT land to Master developer Chapal? I had a talk with Chapal representaive also who has confirmed that they did not get the land from Ajman municipality yet.

And I have been informed by my developer that they will not be able to start construction any time before August -November09 because there are other formalities like soil test, etc to be finished before they start construction. (For information as per my information, soil testing in ELT cannot be done before Chapal handsovers the land to sub developers - as per agreement)

This has really left me worried....Should I pay more or no? Because, if I am right it has been nearly 1 year since ELT was launched. and what do we have? A flat piece of unapproved land.

Any body has some information regarding this?

I'm in the same boat.... Pay or not to pay????

^^

If the developer has ERCROW there is no reason to stop payments.

If payments are stopped what will you achive?

If payments are stopped then construction will be unable to progress and you run the risk of loosing 30% of the total value of your unit.

Regards,

Dave

Hi Dave

No My developer does not have any ESCROW account and what I could understand they does not plan to open one untill they get a notice from the ARRA.
But as you suggested may be they can take 30% of payment but on what pretext? They do not have the land in their possession so how can construction progress can be hampered due to our default?
Its really a tricky situation and getting into my nerves. Is there any body who has faced this situation successfully?

If the developer does not have ERCROW then you should contact ARRA and get their stance in writing, that way the developer cannot cancel your reservation.

I would not pay any further monies to a developer without ESCROW.

I have purchased in Royal Plaza in ELT but BL Properties have opened their ESCROW so I will continue with my payments as normal.

If there is one project on Emirates Road other than EC it would in my opinion be ELT. Would try not to worry too much.

Hopefully there will be someone here who can advise better.

Regards,

Dave

How can you be so sure that BL have opened an escrow account?

I also bought in Royal Plaza as I believe in it.... and I believe BL can do it... but now that I heard that Chapal dont even have the land handed by Municipality... what does that mean? The project is already a 3 year long project.... does this not worry you?? The power issue as well . ..its unclear....

If all these lil dark points get cleared up.... I completely believe in ELT... its in the best location ... and the developers are very strong...Chapal and BL are both very strong developers.

Inv.

I spoke to Chapal yesterday.

They said the land has already been handed by the Muncipality but they are still waiting for the "design to get official approval." They said that would take around 4-6 weeks. Not sure how much truth there is in it.

I have paid about 28% so far. They said if I stop paying then I'll lose the 20% and will be paid the balance of the 8% once the apartment is re-sold to somebody else.

WHat do the forumers think- wait and see how things develop or just stop paying and accept the loss????

I would wait and see how things go. If you decide to default in future you will still have all further monies payed credited back to you as Chapal has stated they will keep only the 20%.

Below is the mail which I recieved from BL regarding the ESCROW account:

" The account details given below now are for the Escrow Account which is
exclusive for the Royal Plaza Project, now on word the clients for Royal
Plaza should send the installment in the same account.


Account Name: Royal Plaza BL Property
Account No: 1997005052
Bank: Mashreq Bank (Badr Al-Islami)
Branch: Islamic Banking
Swift Code: BOMLAEAD

Thanks & Regards,

Moneeb Khaliq Khan
00971-4-3290901 Ext. 429
Fax No. 00971-4-332 5110"

I also have verbal confirmation from Sohail at BL on the account.

My Feb 09 installment was payed to this account.

How can you be so sure that BL have opened an escrow account?

I also bought in Royal Plaza as I believe in it.... and I believe BL can do it... but now that I heard that Chapal dont even have the land handed by Municipality... what does that mean? The project is already a 3 year long project.... does this not worry you?? The power issue as well . ..its unclear....

If all these lil dark points get cleared up.... I completely believe in ELT... its in the best location ... and the developers are very strong...Chapal and BL are both very strong developers.

Inv.

One thing that I cannot understand is Ajman Government. Why dont they just get a move on with the approvals etc. It seems that they are the ones holding up their own projects.

If they really want restore investor confidence then they should show it.

Regards,

Dave

BL properties seems to be way ahead. They are doing good to gain their customer's confidence.

I have informed my developer that I would not pay any further installments unless an escrow account is in place. But it seems that they are reluctant to open one as they are citing reasons such as -
Chapal does not have an escrow account hence they are not allowing my developer to open one ( quote).
Unquote: it seems master developer should give an approval for their sub developer to open escrow account.

Now since, BL properties has already opened an escrow a/c, my developer is just fooling me.
Chapal was scheduled to get this land in the m/o December 2008. But till now this date has been rescheduled 2 times and still nothing is in their hands. As per my understanding getting this land by chapal is not a step forward as designs are not approved. Hence, we are still in square one - No progress.

What do the members say?

Account Name: Royal Plaza BL Property
Account No: 1997005052
Bank: Mashreq Bank (Badr Al-Islami)
Branch: Islamic Banking
Swift Code: BOMLAEAD
.

Just a comment - from the interview in The National - the head of ARRA said that all Ajman Escrow Accounts would exclusively be at the new Ajman bank - at least initially. A few developers have been handing out account numbers - saying these are their new escrow accounts - only to be proven otherwise. I'd recommend calling ARRA - phone number at - www.arra.ae - and verifying that it is indeed correct.

Your info may be correct - I don't know one way or the other about BL &/or the above account - just thought I'd give you a heads up. Waiting for my own developer to furnish me with the details....unfortunately all this is more complicated than it needs to be.

Good News!!!

I just had a talk with ARRA representative on +971 6 7444144 and what I could understand is that they(ARRA) passed an order to all developers to register with ARRA around Mid November 08 and all investers can inform their developers that they will henceforth (or wef Dec08) will pay their installments only in Escrow account and the same should be provided by the respective developer asap.
Pls note that this should be given in writing (before witholding the payments/installments). In this case, the developer cannot in any case rescind the contract and Ajman ARRA will take care of these cases.

Even the ARRA rep informs whether the developer has applied for registration with them or no.

24/February/2009

Emirates Lakes Towers

http://img5.imageshack.us/img5/9913/imresolt10.jpg (http://imageshack.us)

http://img502.imageshack.us/img502/6047/imresolt11.jpg (http://imageshack.us)

Imre, thanks bro.. thats looks like alot of progress... :D well, some tyre marks here n there.... at some point in the near past, a truck or somethin with wheels passed through that land. Thank god.... thats progress to me :D

Inv.

tyre marks from the Emirates City trucks:)

Dave, thanks for the info... I still have this low confidence issue which is troublin me with Ajman. The government is slow and this is worryin me not only with te approvals issue but also with the power issue.

I paid about 20% so far of Royal Plaza... if I say to them guys... I want my money back... how much will they give back.... ? 70% 30% none?

Inv.

tyre marks from the Emirates City trucks:)

Excellent news... so there is some movement there.... :lol:

Thanks for the photos anyway.

Inv.

Dave, thanks for the info... I still have this low confidence issue which is troublin me with Ajman. The government is slow and this is worryin me not only with te approvals issue but also with the power issue.

I paid about 20% so far of Royal Plaza... if I say to them guys... I want my money back... how much will they give back.... ? 70% 30% none?

Inv.

I think that in the BL contract it states that 20% will be forfeited to the developer. In this case you will get no money back.

BL seem to be strong on their customer support so maybe you should give them a call. All of my dealings with them have so far been good.

They have always replied to emails on the same day. There is always someone willing to talk on the phone when you call the office and the receipts are delivered to me within a week of payment every month.

Most of the Ajman developers as you can read on this forum are very poor with their customer relations so it may well be worth talking to BL about the situation and if possible get it in writing.

I too am worried that the Ajman Government are not doing enough to push these developments but at the same time wonder if their is an alterior motive such as worries of over-supply which has now majorly effected property prices in Dubai.

Regards

Just a comment - from the interview in The National - the head of ARRA said that all Ajman Escrow Accounts would exclusively be at the new Ajman bank - at least initially. A few developers have been handing out account numbers - saying these are their new escrow accounts - only to be proven otherwise. I'd recommend calling ARRA - phone number at - www.arra.ae - and verifying that it is indeed correct.

Your info may be correct - I don't know one way or the other about BL &/or the above account - just thought I'd give you a heads up. Waiting for my own developer to furnish me with the details....unfortunately all this is more complicated than it needs to be.

I have put this question to ARRA and will provide details of their response.

Thanks,

Dave

Hi!^^
I'm trying to refund my money from Samama Holding now. They have Times Square Tower in ELT.
I've purchased the apartment through BL Property almost 1 year ago. So far paid 27%. I have only reservation agreement.
In Jan. I applied for cancellation of the apartment and we agreed that I'll forfeit 10% of O.P. (according to the reservation agreement). They promised to refund the balance in 2-3 weeks.
Few days ago they informed me that there is a new law, where Ajman developers can keep 30% of O.P. regardless if you signed selling agreement or only reservation form (which states 10%).
Has anybody heard about this law?

Hi!^^
I'm trying to refund my money from Samama Holding now. They have Times Square Tower in ELT.
I've purchased the apartment through BL Property almost 1 year ago. So far paid 27%. I have only reservation agreement.
In Jan. I applied for cancellation of the apartment and we agreed that I'll forfeit 10% of O.P. (according to the reservation agreement). They promised to refund the balance in 2-3 weeks.
Few days ago they informed me that there is a new law, where Ajman developers can keep 30% of O.P. regardless if you signed selling agreement or only reservation form (which states 10%).
Has anybody heard about this law?

If you have not recieved the contract then I would guess that you have not signed one. The reservation agreement is for only 10%.

Ask for a copy of the law which states "the developer is entitled to 30% of OP after signing only a reservation"

Not sure if the new Ajman Laws have been made clear and avaliable to the public yet but I'm sure others on the forum will know more about this.

Sorry to hear that you're having difficulty though.

Regards,

Dave

Hi!^^
I'm trying to refund my money from Samama Holding now. They have Times Square Tower in ELT.
I've purchased the apartment through BL Property almost 1 year ago. So far paid 27%. I have only reservation agreement.
In Jan. I applied for cancellation of the apartment and we agreed that I'll forfeit 10% of O.P. (according to the reservation agreement). They promised to refund the balance in 2-3 weeks.
Few days ago they informed me that there is a new law, where Ajman developers can keep 30% of O.P. regardless if you signed selling agreement or only reservation form (which states 10%).
Has anybody heard about this law?

Apparently the developer is referring RERA (Real Estate Regulatory Authority of Dubai) rule/law. But that rule too has been clarified by the RERA chief recently that in case of cancellation, the buyer is entitled to a refund after a deduction of ONLY 30% OF THE AMOUNTS PAID as on the date of cancellation. So in your case if you have paid 27% you are entitled to get back (27% minus 8.1%) = 18.9%. These developers use and abuse rules (whatever scanty rules there are) in whichever way they like to their own advantage. Its amazing that they say "regardless of the signed agreement". If its like that, one wonders why is a contract signed at all. The buyers are simply helpless here and there is no place to seek redressal.

So tomorrow if ARRA come up with the dead line like -

1. All developer have to complete the project as they promised to investors, well will it be possible for developers and contractor to obay the rule?

OR

2. All projects are cencelled and money invested by invester will be forfieted since the risk of the investment known to investors


No shame is some one asking to pay them 30% without doing anything, cheaters enjoying the rules and regulation, well the authority who running the government come up and secure the poor investor or they simply think as they are charging for parking or traffic fine.

Its looks if we want to stay in this country keep in mind -

"PAY FINE & BE FINE"

I spoke to ARRA recently who advised me not to pay any further installments until my developer, Chapal has an escrow account.
They also asked me to email Chapal of my intention to do the same.
I have emailed Chapal 3 times, but I haven't received any reply. My next payment is due tomorrow. Also now Chapal have sent me the agreement which they want me to sign.

Pay or not to pay? Sign or not to sign?:ohno::ohno:

I spoke to ARRA recently who advised me not to pay any further installments until my developer, Chapal has an escrow account.
They also asked me to email Chapal of my intention to do the same.
I have emailed Chapal 3 times, but I haven't received any reply. My next payment is due tomorrow. Also now Chapal have sent me the agreement which they want me to sign.

Pay or not to pay? Sign or not to sign?:ohno::ohno:

Did ARRA give you anything in writing?

I had emailed them with a question on Thursday morning and am still awaiting their response.

Regards

Yes, they sent me an email, but its in Arabic. I don't understand it! I've tried posting it here, but can't copy and paste, its some sort of pdf attachment...

Any advice on what I should do :ohno::ohno::ohno:

Did ARRA give you anything in writing?

I had emailed them with a question on Thursday morning and am still awaiting their response.

Regards

Dave 1596:
You may want to try writing to individual addresses. I'll PM you with a couple. Maybe more responsive than the general info email.

I got a letter (sounds similar to what London21 mentioned)- posted it in the Ajman Uptown thread.

Regards

^^Hi UAEprop,

Appreciate the info, I have now sent the mail to both addresses.

Thanks,

Dave

Recieved this mail from BL today


Saturday March 4, 2009
BL Properties registered with
Ajman Real Estate Regulatory Authority
As promised in our previous newsletter to you, it was mentioned that BL Properties is in the process of finalizing registration with Ajman Real Estate Regulatory Authority department.

As our commitment moves forward, we are now pleased to announce that BL Properties becomes THE FIRST developer to be registered with Ajman Real Estate Regulatory Authority. BL Properties continues to stay true to their commitment of developing partnerships through trust.

Best Regards

Me too received the same email.

I will wait for them to contact me regardin the payment... do they transfer all the past payments to the new arra account?

Inv.

See below extract from ARRA:

"Dear Sir,

BL properties is have a temporary registration but they have yet to open the escrow account for the projects.

Thus, as noted on the facility, it was all buyers payments only through the escrow account for the project.

Kindly find attached the official circular issued by Ajman Real-estate Regulator Agency (ARRA).

Ajman Bank and Emirates Islamic Bank are certified with ARRA.

For more inquires and clarifications don’t hesitate to contact me either by email or phone.

Kind regard,
Amal Al Housani
ARRA
Ajman Real-estate Regulatory Agency
Tel:06-7444144
Fax:06-7444145
amal.h@arra.ae
www.arra.ae"

I had confirmation from BL last week that their account with Mashreq was the ESCROW account. From the mail above this is clearly not the case. I have put the question back to BL and am awaiting their feedback.

I've now paid 32% to BL without any construction or even the handover of land and am trying to get confirmation from ARRA on whether I should make any further installments until construction starts.

Will update further once I get some answers.

Regards,

Dave

Brothers me and you We are very tiny end users with whatever little money we had we have invested because the rents kept going up and up and were burning our pockets and hearts each passing day. We have invested and are getting cheated as our money is stuck and no future for us. We have to ask our rights collectively and ARRA is the only authorized authority which will for sure help us as its looking after the buyers investors and tiny end users like you and me, and also because the Ajman property markets will crash like anything and there will be a burst of defaulters in the months of may and june 2009.

All the reports coming either from gulf news khaleej times 7 days or the national or the arabian business websites or from any international newspapers talks only about the big burst of defaulters expected in the months of may june 2009

:ohno:AJMAN PROPERTY MARKET WILL BE A BIG BLUNDER AND MESS BY MAY 2009 Investors buyers and end users mostly will be loosing and suffering too much in Ajman property market because most of its projects are still on paper ie its only sand and no proper rules and regulation still formed by RERA in Ajman. Most of the lands bought by developers are still not 100% payments made. RERA of Ajman must force developers to pay 100% of land cost and purchase the land fully before starting construction or otherwise if developers cant do this then return the booking amounts of investors. Or even if there are delays in ready dates then the investors buyers must be fully compensated or their monies must be returned back. :banana:

For all this to happen RERA AJMAN must get fully involved like RERA DUBAI to get these cases sorted out between developers and investors buyers, before the cases of defaulters will burst like a bomb in the months of may and june 2009

Gulf News 16th March 2009 Report on how the projects are physically dissappearing and being culled so image what will happen to Ajman which is a crawling baby before Dubai which was running on its feet very fast till end of 2008
Dubai realty could see 'natural culling' this year
By Suzanne Fenton, Staff Reporter
Published: March 16, 2009, 23:01


Dubai: Some projects in Dubai are likely to "physically disappear" in 2009 as the emirate witnesses a flight to quality among investors, industry experts said on Monday.

Developers did not do adequate market research and did not factor in who they were building the projects for. This resulted in a plethora of "very, very silly projects", many of which now face extinction, Christopher Sims, chief operating officer at Gulf Housing Solutions, said.

"This natural culling of the market is a good thing&Some projects will physically disappear. Some were very far-reaching and extremely ambitious. Amateurs are going, professionals are remaining," Sims said.


--------------------------------------------------------------------------------


--------------------------------------------------------------------------------


Before the financial downturn hit Dubai, investors and speculators simply wanted a piece of the Dubai property cake. Now, investors are looking to those projects which are completed and have facilities and have good quality finishes.

"It is not a recession, but a technical correction. The market will move to a flight to quality - the Springs, Jumeirah. People don't want to live in the middle of the desert without infrastructure," Sims added.

Sims was speaking during Middle East Economic Digest (MEED) magazine's mega projects conference. A few developers due to participate and offer project updates were not present at the event.

Nakheel has had to postpone some of its projects such as the kilometre-tall tower and the Trump International Hotel and Tower as developers across Dubai and globally have had to tighten their purse strings.

Sims said his company is currently "looking for acquisitions".

"End prices have come down, there's no doubt about that. The average downturn is about 30 per cent right across the board," Sims said.

Ian Ohan, regional director, head of investment transactions at Jones Lang LaSalle, said that in terms of defaults, projects that haven't yet broken ground are easier to resolve. "Off-plan sales were used, effectively, to finance projects. Off-plan purchasers are now defaulting&this puts the developer in a difficult situation," Ohan said.

A recent Jones Lang LaSalle report said that more than 50 per cent of residential and commercial projects due to come online between 2009 and 2012 are now on hold or cancelled entirely.

Ohan said that a survey done in the Middle East and North Africa region the third quarter of 2008 showed that the issue investors were most concerned about was the level of return.

"Less than 2.5 per cent were interested in an exit strategy and that speaks volumes about the state of the market back at the peak," said Ohan.

Whereas 2009 will continue to be a year of correction, 2010 will be a year of stabilisation before the market recovers in 2011, according to Jones Lang LaSalle


indianlover

Indianlover i dont totally agree with you. If you made mistake and bought bad property in bad area from bad peoples then this doesn't mean that whole market is bad and every body is losing money. there are still many developers who are building their properties and will hand it over on schedule.

Edit

Hi Can anyone help?
Due to the current situation with the pound against the dirham we can no longer afford to keep our apartment in Chapal Corals and are looking to put it up for sale. Does anyone know details of any agents who would be able to help resell it for us?

Thanks in anticipation.

Please PM or email me on lynn.calderbank@sky.com

I now have confirmation from BL Properties that the account details that they had provided were not for their ESCROW account.

They have informed me that the ESCROW account is a work in progress and should be opened shortly.

Has anyone heard any updates on ELT?

Have the plots been handed to the developers yet?

Regards,

Dave

Have been very disappointed with BL Properties - have been promised construction will start "in 2 weeks" for the last 9 months - still nothing but sand..

^^
Just got this invitation from BL Properties...
http://www.blproperties.net/events/email_banner.jpg

Finally, about time .... this tower will be amazing and amongst the first ones to be completed in Emirates Lake Towers. I have an apartment there.... am just wonderin who will rent it out in future lool... or who will buy it.

Inv.

See below extract from ARRA:

"Dear Sir,
...
Kindly find attached the official circular issued by Ajman Real-estate Regulator Agency (ARRA).
....
Kind regard,
Amal Al Housani
ARRA


Dave, can you please upload a scan of mentioned ARRA circular, which you have received from them?
It may be helpful.

Worried investors in Ajman lobby ARRA


14 May 2009
A group of 30 worried property buyers who say they have paid many thousands of dirhams to developers for projects that are either months behind schedule or not even started are pressing the Ajman Real Estate Regulatory Agency (ARRA) to take action to protect their investments.

Most have invested in properties in the Dh15 billion (US$4.08bn) Emirates City development, one of the few projects along the Emirates Road where construction is well advanced.


However, they say, many sub-developers within the new city have not yet started building work, and the investors fear their money is at risk.

The 30 have signed a petition to ARRA, a government agency set up at the beginning of this year, declaring they will be handing over no more money to developers until they get a schedule linking future payments to specific stages in the development and giving guaranteed completion dates, with penalty clauses.


The petition says: "ARRA has declared that no more payments should be made to any developer unless the developer has registered with ARRA and established an escrow account. However, we believe that these two steps alone are not sufficient to guarantee investors' rights. We are therefore, not going to make any further payments, even into an escrow account, unless we get a written contract whose payments schedule is linked with certain stages and which states a revised completion date, together with a clause for a specified penalty to honour the contractual obligations."


Fifteen of the signatories went to ARRA's offices this week. But while ARRA's management was willing to meet them individually or in groups, ARRA refused to take the petition, according to one of the investors, Amberin Sajid, a French citizen who invested in the Lake View Tower.

"I came with a list of 30 investors who have invested in the same tower," she said. My flat cost me around Dh400,000 and I have paid already Dh150,000. That was all my savings. Nothing has started so far and nobody can get in touch with the developer."


ARRA told the petitioners they should file a case in court. However, the petitioners say, this would cost a minimum of Dh40,000 per person and per case. "First ARRA said wait for May 1 and then we will take your complaint. But now they tell us to go to court by ourselves," Mrs Sajid said.

"I did not gamble on the stock exchange. And if my flat in the end is only worth Dh100,000 I would not care because I still have the walls. But if I don't even have that ... I should not have to go to court and spend even more money. There should be laws."


Another signatory of the petition, Mohammed Siddique, said he had paid 31 per cent of the cost of his property so far but the developer had built less than 10 per cent, only getting as far as putting in the piling. "Payment should be in line with the construction," he said. "We have lost our confidence."

Ahmad Yasri, a customer service agent at ARRA, said he had seen the group of investors, but did not want to comment further on the case.


The investors also said they were discriminated against by the new visa regulations. Last year the Government announced the end of automatic residence visas for property buyers. A recent federal regulation declared that buyers can now get a six-month renewable visa if they have bought a property for at least Dh1 million. In Ajman, however, most of the properties are much cheaper than that.

The petitioners said: "The issuance of a visa had been guaranteed in our contracts. Now the rule has changed to a one million dirham price limit. The property owners of Ajman feel discriminated by this policy."

By Nathalie Gillet

© The National 2009

Does any one know where we can see the latest list.

More importantly does any one know when and how we will find out which projects are going ahead and which ones are being canned?

I am trying to see if we can get together as a group to exchange information about Liberty Residence and the prospects of Mukaty to find the best way forward.

Looking for others who have invested in Royal Lake Front - Developer: BL Properties to see if we can exchange information and help each other along.

Hi ams uae
Liberty res investor here,
the only info I have is that the project is not a registered project, 2, I have got a friend, who has been offered units in a chapal project, but they are not willing to accept that they failed to register there project, and they think they are doing us investors a favour by giving units in other projects. Don't know if this is true but also came to know that Mukaty holdings is not a registered company in dubai, and mr Mukaty only holds a real estate broker licence and does not even have a developers licence,
if anybody has more info we would love to know






chapal

Looking for others who have invested in Asia Residence Tower www.asiastar.ae/asiaresidence.
Developer: Asia Star Properties to see if we can exchange information and help each other along.

I have reason to believe this project will not go on.

Hi ams uae
Liberty res investor here,
the only info I have is that the project is not a registered project, 2, I have got a friend, who has been offered units in a chapal project, but they are not willing to accept that they failed to register there project, and they think they are doing us investors a favour by giving units in other projects. Don't know if this is true but also came to know that Mukaty holdings is not a registered company in dubai, and mr Mukaty only holds a real estate broker licence and does not even have a developers licence,
if anybody has more info we would love to know

chapal

I have emailed ARRA asking to see if Mukaty have registered with them but I guess your post answers that question. I will post a response if and when I get an answer from ARRA. In the meantime lets keep each other informed of anything else we hear.

Ajman residential rents decline up to 40% in six months

http://www.business24-7.ae/Articles/2009/5/Pages/26052009/05262009_615f4341391f4a928cdffbe1eeae5bb3.aspx

I have emailed ARRA asking to see if Mukaty have registered with them but I guess your post answers that question. I will post a response if and when I get an answer from ARRA. In the meantime lets keep each other informed of anything else we hear.

:ohno::nuts:

ANY NEWS OR REPLY FROM ARRA?

The whole thing in the UAE is a big scam, they launch developments they have no attention of delivering and they find excuse for not honoring their contracts e.g. Do any of you get written communication? very unlikely because they don't want to leave a paper trail (that is policy) you would be lucky if you get an email.


Pay your taxes and live in the UK or anywhere else where they have civility, recompense, and some integrity. In the end, it is a third world country, they won't let you get away from here without lining their pockets first. I wish i could get out all my invest in this god-forsaken land of lyers and cheaters who lose any conscience as soon as they have your money.

The quality they promise sucks including such 'iconics' as the Palm, 12 out of 14 fronds are put up by the cheapest builders they can find - businesses with no ethics, letting peolpe work like slaves. In the end, these companies are gambling with trust and when they lose that, what have they got?

These people don't give a monkeys a***about your welfare. Do not trust them. They take your $ and don't give a crap about you or your family - when you Q them, app 'it's all in the contract'. But they only give u the contract after you pay a 10% or whatever deposit, by which time they have already 'reeled' you in. Make no mistake, they know exactly what they can getaway with. So play them at their own game. Everywhere I see the same discontent from investors.
Why do they gamble with trust/integrity - surely they cannot win!

:ohno::nuts:

ANY NEWS OR REPLY FROM ARRA?

Nothing from ARRA. I have emailed, called, called, emailed and called again. NOTHING. Not even an acknowledgement of my emails!

Nothing from ARRA. I have emailed, called, called, emailed and called again. NOTHING. Not even an acknowledgement of my emails!

I have always found ARRA to reply on the same or next day to any mails.

Try Amal:

Amal AlHousani
Customer Service
Tel: +971 6 744 4144

amal.h@Arra.ae

I have purchased in Royal Plaza from BL Properties who at last have the ESCROW Accounts for their projects.

Ground breaking ceremony for Royal Plaza due to be held on the 16th of this month at ELT site.

I had taken a drive past Ajman Emirates Road projects on Friday and must say that it's extremely dis-heartning to see what little progress is being made there after all of this time. What are the Government and the developers thinking of??

Arra law to link payments with construction
08 June 2009
Ajman Real-estate Regulatory Agency (Arra) will introduce new regulations by month-end, linking payments to construction milestones achieved, a top government official said.

"We are trying to be as fair as possible to all property buyers in Ajman and for this we have come up with a new formula for collecting payments in relation to the progress of the construction of the project in Ajman," Omar Al Barguthi, Director- General, Arra, told Emirates Business.

"In due time we will announce this new regulation, which will deal with payments to be paid by the developer to the master-developer and the property buyer to the developer. There will be a very specific and clear business guideline for payment."

Imad Dana, Chief Executive Officer, Al Zorah Development Company, welcomed the decision of Arra to introduce the new regulations. "It is a good decision that will ensure projects are constructed on time. We as developers will completely follow the regulations set out by the agency," he said.

Farina Ahmed, Chief Executive Officer, BSEL Infrastructure Realty, said: "We welcome the proposed Arra regulation linking collection of payments from investors in line with the construction of the project. It is a good initiative for investors and the real estate industry in the long run and will certainly give a boost to the investor confidence looking at the Ajman real estate market.

"In the interest and convenience of our customers, we already have a construction-linked payment plan and the proposed Arra regulations will complement it perfectly. If the proposed law comes into effect, it will be interesting to see men being differentiated from the boys in the Ajman real estate market place," she added.

Anwer Sher, General Manager, Escape, also welcomed the plans of Arra to set up the new regulations with respect to collecting payments from investors in keeping with construction time-lines.

"Developers should always collect payments in line with construction progress of the project. We have now awarded a construction contract and only then have we collected payments according to the progress of the project," he said.

"Arra is doing a good job so far. They entered the market late but have done a good job with respect to regulating the Ajman real estate market. We think they are not over-regulating the market which is good," he added.

Last week, Arra set a new deadline of July 1 for property developers in Ajman who have not completed their registration procedures with the agency.

According to the notification, Arra said it is not enough that a developer submits part of the required documents to Arra to be a licenced real estate developer.

"We are currently working on the files that we have received from different developers and are currently finalising the documentation on that. There will be some developers who will not be registered with Arra if some of their documentation is not in place," said Al Barguthi.

"Our target is not to impose fines or penalties against developers but to see all developers are committed to property regulations and legislations in force in Ajman," he said.

"There is a deadline that we have put and any developer who submits later than that will not qualify to become a real estate developer in Ajman unless we have looked into the documentations provided and we see that there is a valid reason for the delay," said the Arra director-general.

Barguthi also said there will be real estate projects in Ajman that will not qualify for registration with Arra.

By Anjana Kumar

© Emirates Business 24/7 2009

Ams uae
I just managed to speak to a lady in Arra by the name of ALAA in customer service she did not give me her surname,
She confirmed with me that liberty residence is cancelled, I then asked where do we investors stand as they have broken the contract that was signed between us, I asked is it possible to get a refund? All she said is that she can't comment she said you have to hire a lawyer then the court will decide. I think all investors should act swiftly or this
b........ard will disappear with our money.

I'm a liberty residence investor too. Didn't know about the project being cancelled completely. Didn't know that Mukaty holdings wasn't even registered here. Just that its a sister company of chapal. Someone from chapal contacted me this week to discuss the whole transfer to a new project under the chapal name. They said they're contacting all investors that paid on time.

Now I just have no clue what to do. Do I take the offer or cancel the contract? How do I even go about cancelling it? The agent tells me that the developer get 20% of the selling price. Gonna have to recheck the contract. But thats crazy. So if I had only paid 20000 of a aed 400000 apt, and cancelled the contract, I would owe them 60000.

I've already paid around 100000 of the 465000 and if the rule stands I'd get back less then 20000. Sigh, at least I wont be losing any more money to a project that may never finish.

1st don't make further payments

2nd seek legal advice on this as they are twisting the law and using it to there advantage

They cannot keep 20% of the sale value that's a load of shit

Offer them 20% of the paid amount and take 80% refund.

please let me know the outcome.

Yeah I stopped payments months ago. I really should've stopped way before that. I still haven't looked at the contract though. I need to read what the percentage lost is. Also if the liberty residence has been cancelled as stated, without our knowledge, that means the contract has been broken by them which has to lead to some sort of fine or something that goes in favor of the investor.
Can anyone give me some clarification on this. I don't have the contract on me atm.

Also I have thought of the alternative. If I transfer to the project from chapal, the money I've already invested will supposedly be deposited into the escrow account, which they still haven't gotten yet (very iffy). They asked me to gather my receipts....and then I yelled at em about how they missed the last two receipts after many emails. It was a telex transfer so it should be ok.
I can choose a project that might have construction started already though price may vary. And the law linking construction with payments could make things safer, but if they ask me for friggin pdcs they can shove it where the sun don't shine. Will ask them soon.

Any advice will be appreciated.

I'm also getting pretty paranoid that the whole transfer to a different project is them trying to get away with the contract being broken...by them. Maybe we are entitled to everything/majority back. That would be awesome.

I have to draw everybodys attention to the

Article 29 (b) of the law no.8 /2008/ Ajman
which states:

ARRA can take legal measures against the developer if

A..........

B- the developer did not start the construction within 6 months of the
project approval or if the construction has stopped
for more than 2 months without reasonable excuse

I have to say that ARRA is an ineffective instrument ....unfortunately

Finally, about time .... this tower will be amazing and amongst the first ones to be completed in Emirates Lake Towers. I have an apartment there.... am just wonderin who will rent it out in future lool... or who will buy it.

Inv.

hi

has Royal Plaza ( BL Properties) started on site ?
Is their escrow a/c with Dubai Islamic Bank or Mashreq Bank ???
will it be delivered on time ? what about electricity/water supply ?
when do you think will Ajman take off ?- so that we can sell on/rent out our units ?
I paid 20% and feel I may cut my lossess and back off
do not think can get any refunds
pls advise
laka

Hey share.info

I spoke with someone from ARRA, not sure about the name. She couldn't really find any info about Liberty residences. She was able to tell me that Chapal only had 8 projects registered, not including liberty residences. Also that Mukaty isn't registered. They're not the developer so I guess that explains it. Though according to their website, they are developers and chapal is the master developer.

So does not registering the project count as the project being cancelled. They've just been telling me its been delayed. Maybe they plan on registering it later. I'm confused.

Regards

HI karanm

I am very much sure they are not willing to construct liberty residence, and will never register this project
If so we would never have got calls to transfer our units in a chapal project,
Please be carefull on what they offer you the have 1 project called chapal tropical in emirates lake towers which would take atleast 10 years to complete looking at there snail pace construction in emirates city.
Please let me know what they are offering you as a replacement.

BL properties held the ground breaking for Royal Plaza on June 5th so I'm pleased to see that they have actually started with the project.

The ESCROW acc is with Dubai Islamic Bank, this was confirmed by ARRA.

Regards,

Kevin

25/June/2009

Emirates Lake Towers

http://i43.tinypic.com/2lx8fnm.jpg

http://i44.tinypic.com/10qympv.jpg

fantastic progress with construction when we have paid in excess of 20%

I have paid 36% to date for this desert!

:ohno:

HI karanm

I am very much sure they are not willing to construct liberty residence, and will never register this project
If so we would never have got calls to transfer our units in a chapal project,
Please be carefull on what they offer you the have 1 project called chapal tropical in emirates lake towers which would take atleast 10 years to complete looking at there snail pace construction in emirates city.
Please let me know what they are offering you as a replacement.


Has anyone spoken with a UAE lawyer to see what our position is? For a cancelled project like Liberty Residence do we have to take their offer? Can we get our money back minus a small percentage? If so, what is that percentage?

I will be in Dubai this week and think it would be an excellent idea to get a group of investors in Liberty Residence together and arrange to meet a decent Lawyer and share the cost. We need to understand exactly what our position is before signing anything. Are you and Karanm up for this? Can you get any other investors involved?

Has anyone spoken with a UAE lawyer to see what our position is? For a cancelled project like Liberty Residence do we have to take their offer? Can we get our money back minus a small percentage? If so, what is that percentage?

I will be in Dubai this week and think it would be an excellent idea to get a group of investors in Liberty Residence together and arrange to meet a decent Lawyer and share the cost. We need to understand exactly what our position is before signing anything. Are you and Karanm up for this? Can you get any other investors involved?

Please seek legal advice on your visit to dubai
and in the meantime i will try to gather some more investors
good luck
please post what we should do now.

Please seek legal advice on your visit to dubai
and in the meantime i will try to gather some more investors
good luck
please post what we should do now.

In Dubai now. Any news from other investors?

Can you, me and Karanm get this going? Please respond asap as I am only here for a few days.

ams uae
text me or call me on 00447808158704

Ajman dispute panel made up of Arra members, judge
By Suzanne Fenton, Staff Reporter
Published: July 02, 2009, 22:48


Dubai: The newly established dispute committee, set up by Ajman's Real Estate Regulatory Agency (Arra) will consist of five Arra members and will be presided over by a judge whose identity remains confidential.

Fees will be cheaper than in regular courts, an Arra spokesperson told Gulf News.

No other details are available, but the setting up of the committee has come at a good time as investors in certain projects are experiencing problems with developers.

Casamia Star, developer of Frankfurt Residence, a yet-to-be-built residential tower in Ajman, caused alarm among investors by telling them the project had been cancelled.

However, Arra officials told Gulf News last week that neither the project nor the developer had been registered with Arra and that the developer did not have the right to cancel the tower.


--------------------------------------------------------------------------------


--------------------------------------------------------------------------------


"Casamia Star is not registered as a developer with Arra ... [and] non-registered developers were given until [Wednesday] to avoid further action. As far as project cancellation is concerned, no developer has the right to cancel a project unless the regulator says so and that requires satisfactory reasons," Arra told Gulf News.

Investors in the project flew into Dubai last week from around the world to find out what had happened to their investments.

Arra told investors that they would investigate the matter further.

Another concern to investors now is that the project account of Casamia Star remains active, according to Amjad Ghulam, one of the investors.

"The account is still alive and collecting money. [An investor] paid their payment in June and it's cleared," Ghulam said to Gulf News.

So far, the 251 investors have paid around £5 million (Dh30 million) to the developer.

Hey Guys,

Have been reading all your comments over the last few months and must say they are very helpful.

I have invested in Chapal Dunes and have already paid 35%.

Chapal confirmed it last month that I do not need to pay any further until they advise me of the Escrow account.

When asked on when the construction would begin, was promised end of this year.

I am still positive and have faith in them, but ideally do not want to pay anything further even after they give me the Escrow account until they have started construction atleast.

Looking forward towards your views and comments....

guys anyone has any update on rainbow tower b10 in emirates city, its a project of sweethomes and they say that construction is going on they sent some pics but no way to make out if its rainbow tower or some other building :-(

has anyone invested in golden arch tower in emrites lake towers

Hi guys,

I bought 2-bedroom apartment in Times Square, Emirates Lake Towers from BL property (Samama Holding) and have paid 30% so far. I stoped paying now because I am waiting for their Escrow account but I don't know if this project is cancled or not. I don't have a contract yet but just a booking form. I called BL couple of times and was told their registeration is still under process and just matter of few weeks. But they told me the same story few months back and if it's just matter of few weeks, they should have already got the project registered. Can anyone help me on this?

Thanks

Jeff - check your personal message

Hi guys,

I bought 2-bedroom apartment in Times Square, Emirates Lake Towers from BL property (Samama Holding) and have paid 30% so far. I stoped paying now because I am waiting for their Escrow account but I don't know if this project is cancled or not. I don't have a contract yet but just a booking form. I called BL couple of times and was told their registeration is still under process and just matter of few weeks. But they told me the same story few months back and if it's just matter of few weeks, they should have already got the project registered. Can anyone help me on this?

Thanks

I have the same story with 5th Avenue by GSS Properties.

Paid over 30%, no contract, even though promised several months ago. No construction. Monies invested seemed to have been spent on a lavish opening ceremony.

I won't be paying any more to them, even under threat of loss of all monies and have decided to right off the 30% (about £15k) paid so far as a bad experience.

Would never invest in Ajman again. Bunch of lying B****ards
:bash::bash::bash::bash::bash::bash::bash::bash::bash::bash::bash:

The Torch

I bought from Seaview Luxury homes London (also known as Seaview Dubai ). They work only with Al Rahat Homes Dubai (ltd Level 41 Emirates Tower SZ Road Dubai UAE) an app. in Asia Residence Tower in Ajman ELT.

Seaview and Al Rahat Homes present themselves as developers but its nothing else then commission agents, who put a folder in each other with copy and paste.

They collect money, but never have the intension to build something. It is a large scandal and fraud and I have also mailed ITV homes from Hell in their trade manner. :lol:

I have me ask my money back because a lack or progress and complying their obligations. They refused.:bash: I soon go to the police force in London top fill charges against Seaview and inform the authorities of the UAE ans Embassy overhere abouthe practise of Al Rahat Homes

Of course it does not remain. The rest I will keep for me…..:cheers:

I bought from Seaview Luxury homes London (also known as Seaview Dubai ). They work only with Al Rahat Homes Dubai (ltd Level 41 Emirates Tower SZ Road Dubai UAE) an app. in Asia Residence Tower in Ajman ELT.

Seaview and Al Rahat Homes present themselves as developers but its nothing else then commission agents, who put a folder in each other with copy and paste.

They collect money, but never have the intension to build something. It is a large scandal and fraud and I have also mailed ITV homes from Hell in their trade manner. :lol:

I have me ask my money back because a lack or progress and complying their obligations. They refused.:bash: I soon go to the police force in London top fill charges against Seaview and inform the authorities of the UAE ans Embassy overhere abouthe practise of Al Rahat Homes

Of course it does not remain. The rest I will keep for me..:cheers:


can the police here in the u.k.
Do anything?

And the uae authorities don't give a shit about our current situation

Crime, theft, froad, is being committed in broad daylight and those bastards are getting away with it.

They surely will do some investigation about Seaview in case of fraud.

I will make sure that Al Rahat Homes never sells a home again.
This is just the beginning. They have touched the wrong button.
see also
http://seaviewdubai.blogspot.com/

go for it mate,
Teach the fuc...ers a lesson

Atleast you can save some other innocent people from losing more money

They surely will do some investigation about Seaview in case of fraud.

I will make sure that Al Rahat Homes never sells a home again.
This is just the beginning. They have touched the wrong button.
see also
http://seaviewdubai.blogspot.com/
^^

Looks to me like this is a common occurrence with Ajman property. Full of scams, lies and ground breaking parties.........


THEN NOTHING ACTUALLY HAPPENS OTHER THAN THEY KEEP ASKING FOR MONEY FROM US AND WON'T GIVE IT BACK :ohno:

I have had no response from either the UK agents or so called developers in Ajman, to a recent letter sent, requesting monies to be returned in full.

The Torch

and how will i do that? soon i will link them with Binladen and make an official statement to the governments of UK and UAE that they finance terrorist activity... I have the name en and pasportnumber of the owners.
Without any investigation they will be persona non grata and deported to (guantanobay is closed) Bora Bora. Only caves wiil be sold there:lol::banana:

I bought 2 units in 5th avenue, Ajman.
I spoke to openshore property last week and I was told that the developer hasn't done much work on the project. I have been making payments for a year and have already paid over 35% of each unit. The agent said that the developer is willing to allow investors to stop making payments for a while until further progress in the construction. But this is only for investors who have made 7 payments or more. I have only made 4 payments but they might allow for 5 or 6 payments before a payment break. I am not going to make any more payments directly to GSS real estate. I am going to call ARRA and ask if they have registered and setup an escrow account. Then I might seek legal advice.

Has any one else here bought from the same people.

I bought 2 units in 5th avenue, Ajman.
I spoke to openshore property last week and I was told that the developer hasn't done much work on the project. I have been making payments for a year and have already paid over 35% of each unit. The agent said that the developer is willing to allow investors to stop making payments for a while until further progress in the construction. But this is only for investors who have made 7 payments or more. I have only made 4 payments but they might allow for 5 or 6 payments before a payment break. I am not going to make any more payments directly to GSS real estate. I am going to call ARRA and ask if they have registered and setup an escrow account. Then I might seek legal advice.

Has any one else here bought from the same people.
^^
Read your email.

The Torch

I contacted BL Properties last week regarding Royal Plaza project.

They stated that the project is still on schedule for completion May 2011 ha ha ha

I contacted BL Properties last week regarding Royal Plaza project.

They stated that the project is still on schedule for completion May 2011 ha ha ha

Have u been making any payments? I stopped and they still send me emails but ive stopped completely... until i see serious progress.

Now I am beginnin to feel like loosin all hope in this project because 450k for a one bed in Ajman on Emirates Rd is not worth it when u can get the same if not cheaper in International City now.

Whats the solution? I paid 100k already. . .towards a 450k apartment facin a lake??

In any case, they are the first developer to do anythin in ELT.

Inv.

I've also paid over 100,000 AED towards the desert!

I am still paying as they have ESCROW, it seems that you either pay or loose everything.

There should certainly be some sort of discount given to buyers!

I know that BL held a ground breaking ceremony but have they actually started construction?

I bought 2 units in 5th avenue, Ajman.
I spoke to openshore property last week and I was told that the developer hasn't done much work on the project. I have been making payments for a year and have already paid over 35% of each unit. The agent said that the developer is willing to allow investors to stop making payments for a while until further progress in the construction. But this is only for investors who have made 7 payments or more. I have only made 4 payments but they might allow for 5 or 6 payments before a payment break. I am not going to make any more payments directly to GSS real estate. I am going to call ARRA and ask if they have registered and setup an escrow account. Then I might seek legal advice.

Has any one else here bought from the same people.

Yes I have bought a studio unit with Openshore and GSS. I too am a little worried regarding these payments which are quite expensive at the moment because of the rate of exchange. I have paid nearly £30000 and have made just 4 payments. I still would like some real confirmation that the 5th Avenue building is going ahead. If we do not make payments we will be in breach and may lose it all. I can't see why we have to make any payments until construction begins as it is not costing them anything regarding materials and labour.

Yes I have bought a studio unit with Openshore and GSS. I too am a little worried regarding these payments which are quite expensive at the moment because of the rate of exchange. I have paid nearly £30000 and have made just 4 payments. I still would like some real confirmation that the 5th Avenue building is going ahead. If we do not make payments we will be in breach and may lose it all. I can't see why we have to make any payments until construction begins as it is not costing them anything regarding materials and labour.

Yes, I bought via Openshore into GSS 5th Avenue. Over £15k in already, but NOT making any further payments until progress is caught up and I have a official and agreed contract in my paws.

If they say I am in breach, they can stick the apartment where the sun don't shine and I will go after them via ARRA and Dubai based lawyers, in pursuit of my £15+k back, as what they have done has been lying and misrepresenting to me on several points, that led me to continue payments, rather than back out after one payment and I have it in writing from them.

Oh, and if that doesn't work, may be we can expand on tonights Channel 4 investigation into the corruption at DAMAC in Dubai. A sort of "Ajman the sequel ....", followed by UK Government pressure and sued in the USA courts. We'll see how they like that sort of HEAT.

I don't give a monkey's rear end whether they think we are in breech. We have to be strong and united on this developer, as they are treating us and our hard earned investments with total and utter contempt.

A number of points have been raised in my letter to them recently, non of which have been answered, be it actual proof of ARRA registration, ESCROW regulation, project timescales, payment holidays, official contract .... the list goes on and on.

It is, in my opinion, Government do give a hoot, ARRA mismanagement, developer daylight robbery of, and misrepresentation to, investors, and it has to stop and stop now, if Ajman is going to have any foreign investors remaining in another year.

Regards

The Torch

Page 1 of 2
Date: 15th July 2009
To,
__________________
__________________
__________________
Subject: Escrow Account for The Dunes
Ref: Project # Unit /Tower
Dear Sir/Madam,
Greetings from Chapal World!!!
We take this opportunity to thank you for all the support & trust for investing in Chapal
World.
Chapal World takes pride in informing you that we have duly established the Escrow
Account for the captioned project with the Ajman Real Estate Regulatory Agency
(ARRA).
For the purpose of maintaining your payment details with ARRA we would request you
to make your payments at our office (Gold & Diamond Park, Bldg 6, Office 109 & 110,
Sheikh Zayed Road, Dubai – U.A.E).
In case due to any reason you are making a direct deposit payment to the escrow
account, then kindly do so using the escrow account deposit slips that are available at
our office or any Ajman Bank Branch. This will help us to maintain accurate & up to
date information about your payments.
If you make a payment directly in the escrow account, kindly send us a copy of proof of
payment with details so that we can update our records.
Page 2 of 2
Below mentioned are our Escrow Account Details:
Account Name: The Dunes Project- Chapal World L.L.C.
Bank Name: Ajman Bank
Account Number: 01-1002114-018
Branch: Ajman
Swift Code: AJMNAEAJ
Mode of Payment:
A) By Telegraphic Transfer:
- Account Name, Account Number, Bank Name & Address.
- Applicant’s full name, Payment details and Unit number.
- Swift Code AJMNAEAJ
B) By Cheque :
Pay to The Dunes Escrow no 01-1002114-018
Buyer References should be on the bank slip (Chq no, Full Name, Unit no)
Accordingly you are requested to proceed with making all the payments as due till date in
accordance with the payment schedule into the escrow account provided.
Your prompt action is greatly appreciated.
We assure you of our greatest services at all times and look forward to your continued
patronage.
Thanking You
Yours Sincerely
For and on behalf of
Chapal World L.L.C.

Did you guys still invest without getting the Residence Visa at the end?

Yes I have bought a studio unit with Openshore and GSS. I too am a little worried regarding these payments which are quite expensive at the moment because of the rate of exchange. I have paid nearly £30000 and have made just 4 payments. I still would like some real confirmation that the 5th Avenue building is going ahead. If we do not make payments we will be in breach and may lose it all. I can't see why we have to make any payments until construction begins as it is not costing them anything regarding materials and labour.

I have nearly 40k sterling invested in 5th Avenue. I have been in Dubai all week to check on things.
By law in Ajman no developer on the Emirates Road can accept payments except through escrow. GSS do not have an escrow yet. There is absolutely OOOOOOOO% work at Emirates lake towers. only sand and air. I have been to ARRA and GSS. If Emirates lake towers and 5th avenue is cancelled then it will be refered to the governments legal consultant. Which i presume means the administrators. GSS have applied for an registration with ARRA, if it is approved, then we will have to continue payments regardless of progress. GSS said they will let me transfer my cash from the 5th avenue account to the Savannah Tower which is under construction in emirates city and is set to be completed in 2011. The smallest appartment available is a large 1 bedroom + 1 study which is 978 sq ft charged at 560 AED per sq ft which works out to be around 90k sterling at the current exchange rate. They will allow me to have a 50% shared ownership with another investor from 5th avenue. Plus they will give a payment break of at least 1 year. If any investor in 5th avenue wants to move to Savannah Tower or wants more information or photos from my trip to Ajman then private message me. Hope this helps

i bought a large 2 bed from openshore for 5th avenue. i would like to ask you when you went to meet GSS what did they tell you? when do they expect to start the construction work as our agent told us it will take another six months and they are negotiating with the developer fot a payment holiday.

i bought a large 2 bed from openshore for 5th avenue. i would like to ask you when you went to meet GSS what did they tell you? when do they expect to start the construction work as our agent told us it will take another six months and they are negotiating with the developer fot a payment holiday.

Please check your email.

I have nearly 40k sterling invested in 5th Avenue. I have been in Dubai all week to check on things.
By law in Ajman no developer on the Emirates Road can accept payments except through escrow. GSS do not have an escrow yet. There is absolutely OOOOOOOO% work at Emirates lake towers. only sand and air. I have been to ARRA and GSS. If Emirates lake towers and 5th avenue is cancelled then it will be refered to the governments legal consultant. Which i presume means the administrators. GSS have applied for an registration with ARRA, if it is approved, then we will have to continue payments regardless of progress. GSS said they will let me transfer my cash from the 5th avenue account to the Savannah Tower which is under construction in emirates city and is set to be completed in 2011. The smallest appartment available is a large 1 bedroom + 1 study which is 978 sq ft charged at 560 AED per sq ft which works out to be around 90k sterling at the current exchange rate. They will allow me to have a 50% shared ownership with another investor from 5th avenue. Plus they will give a payment break of at least 1 year. If any investor in 5th avenue wants to move to Savannah Tower or wants more information or photos from my trip to Ajman then private message me. Hope this helps

I too have bought in 5th avenue, and Im appalled at what Im hearing.

Clearly payments have been made in good faith by many of us over the last year, with next to no communication or updates to reassure us.

uksm,

you've done us a big favour by sharing your information. Not that we have any answers yet though.

Ive sent you a pm. Please check.

kilaJoe

Anyone have any updates on ELT?

There was news around a month back that the construction roads were complete but I haven't heard anything further since then. I had a mail from BL which stated they still plan to complete Royal Plaza by May 2011! Obviosly there is no chance whatsoever!

Has any developer on this project started construction yet?

16/August/2009

Emirates Lakes Towers

http://i31.tinypic.com/29z7c5s.jpg

http://i29.tinypic.com/11t8mbt.jpg

Anyone have any updates on ELT?

There was news around a month back that the construction roads were complete but I haven't heard anything further since then. I had a mail from BL which stated they still plan to complete Royal Plaza by May 2011! Obviosly there is no chance whatsoever!

Has any developer on this project started construction yet?

I keep getting the same rubbish from the Crooks at BL Properties. If we want to know the progress of Emirates Lake Towers, Imre's fantastic pics above says it all. Nothing but sand.

BL have had our money for 15 months now, have promised to start construction every month for the last 13 months...:bash:

The picture really does say it all! Do you have any plan of action?

BL's progress on Altitude Tower in EC is also not existent and they started promoting the construction pictures on their website over a year ago (no progress since then). They seem to be reasonable with PR any customer relations but when it comes to actually building something????

I'm on the 5 year plan and have paid till 39% now. If only that cash was sitting in my account gaining intrest!!!!!!!!

I may be forced to ask BL to change my contract to the "progress related" one.

i used to work at BL and the owner ran back to pakistan and they moved office i dont think they are going to build anything. the guys there told me no one is paying for their payments so they dont have money to built the projects

i used to work at BL and the owner ran back to pakistan and they moved office i dont think they are going to build anything. the guys there told me no one is paying for their payments so they dont have money to built the projects

I would appreciate if you could give some more detail on this, it's a strong statement to make!

Can you provide names, dates or any email correspondance?

From BLs website they have taken 7 more bookings for apts in Royal Plaza over the last month with only 15 remaining.

Would you say that the money is safe in the ESCROW account?

interestting... can u share some details... or else if you want to highlight the issue in media, you get in touch with one on parag.deulgaonkar@awraqpublishing.com

i used to work at BL and the owner ran back to pakistan and they moved office i dont think they are going to build anything. the guys there told me no one is paying for their payments so they dont have money to built the projects

Just spoke with BL tel: 04 3321 321 and they are still in the original office:

Al Attar Business Tower on Sheikh Zayed Rd, Dubai

Regards

Hey ams-uae and share.info,

Didn't come online for a while, with other things keeping me busy. So heres my update.
I had already made it clear through email to the Chapal crm that I wasn't interested in moving to another project because 1. I'd rather not waste more money on anything Ajman/Chapal related 2. The project they suggested was Corals which is also delayed a year. So all that was left was to get the official response to whether I get a refund or not. I asked through email since I was out of the country and didn't get a response after multiple emails leading to some legal action threats.

So last week I got back and went to the Chapal offices....Best Real Estate or something (yeah name is awesome isn't it). Clearly they read the emails since they knew about my refusal and legal action threat. So here's the guys response to why I can't get my money back.
Chapal doesn't have the money. It got spent on acquiring the land. BOOM.
God I wish I was recording that. To hear such a thing from the crm of a "Master Developer" is just...no words. Also, this is the same excuse to why I shouldn't go to court. All I get from that is I'll win but won't get any money cuz they spent it all on the land. Which I don't think would happen if they had an escrow account which only allows money to be removed for construction costs (can someone clarify that for me?).

Basically I told him that it's none of my concern if chapal did such a poor job with financial planning. I didn't think about the whole escrow account allowing only construction costs thing. He then offered me a flat in chapal glory which has 8 floors constructed. So legal action it is....or atleast more legal threats. Actually I don't know yet, but I ain't putting another fil into chapal/mukaty or whatever.

From BLs website they have taken 7 more bookings for apts in Royal Plaza over the last month with only 15 remaining.


It doesn't mean that BL sold these units. They transfer units now from another tower called Times Square (which going to be cancelled soon) to Royal Plaza. That's it. I very doubt that somebody is buying in ELT now.

For Info,

See below mail from BL yesterday regarding progress of Royal Plaza, at least they give a response. The mail is very vague as per standard Ajman developers fashion. Seems Chapal are causing the delay! Guess I'll have to wait ANOTHER MONTH for any updates!

Dear Sir,

After the ground breaking, BL Properties have signed the agreement with the Piling Contractor for Piling. But due to some problems of the Master Developer, the things have been slowed down.

Hope to have a clear picture from the Master Developer in a month, then we will be able to give u the regular progress update.

Thanks

Sohail Abdul Rehman
BL Properties

I have property which I purchased direct from GSS whilst I was in Dubai in May last year. My view is that all of us should apply pressure by continuously contacting them and thier management directly until we get answers. Agents are normally useless and do not have any power. We all need to contact GSS directly.

If everone who has property and sees this post does it, I am sure this will help make progress. At least it will give us more direct information. Please join me in doing the following.

Call 00 971 6 746 6441 (GSS Ajman sales/service office)

Ask the following questions:

1. What is the reason for delays?
2. When are contracts to be issued? ask for date
3. When will construction start? ask for date
4. Ask for the ARRA Escrow Account information
5. Why have GSS not sent a letter or email fully explaining the reasons for the delays and how they intend to compensate us.
6. As project is delayed by so much- Ask for your full money back if you do not get contract within 30 days. Insist on this. Threaten legal action

At the end ask them to send you an email confirming the answers to your questions. If they can not answer the questions, then ask to speak to someone senior. Do not let go.

I have already made several calls. The first person they will put you through to is Joseline (extension 10) who is "customer service" and I think just the receptionist - She is friendly buy does not have a clue. She told me in May that Piling had been done and construction was under way.

The second person they will put you through to is the sales guy Mr. Masood (extension 23). He will say they are doing all of the above and are waiting for ARRA to issue escrow account and documents, but will NOT give you definitive dates. The attittude is laid back. Just tell him you want to speak to the boss - Mr. Max Shaw

Then they will refer you to Miss Genie Geo (ext 22). It takes several calls to get through to her. It may be best to contact her direct in the first instance. She is Mr Max Shaw's personal assistant. She will say that contracts are delayed (yet again) and are yet to be approved by ARRA and blame them. She will also blame the master developer for being late. She will say that they will call you back - but they will not. Tell her that you want your money back unless you get the contracts within 30 days. Ask to speak to Mr. Max Shaw.

GSS have other projects in the UAE and many other companies in the UAE. They just need to be pestered into action on the 5th Avenue project. If all of us do this, I believe they will make it a priority, put more resource behind this project, and we will get our contracts and further progress - but we must be persistent and ask for your money back immediately or a firm date when we will get your contract.

Also speak to the head company accountant - Mr Imran Rashid (dial ext 26) to get money back if contracts not received within 30 days. If he is not there ask his secretary to call you back. I was told that he is acting boss as Mr Shaw is frequently not around.

Do the same again after a day or two. Do not be fobbed off. They have our hard earned money. Keep at it. Ask for money back or the contracts.

Please lets do this together. If we do not, they will not give it priority and simply delay and delay. They need to know that if we do not get contracts and progress soon we will escalate to the media, do visits in Dubai and take legal action. If we do this collectively it need not be expensive. I have Emerati Legal contacts.

Hey ams-uae and share.info,

Didn't come online for a while, with other things keeping me busy. So heres my update.
I had already made it clear through email to the Chapal crm that I wasn't interested in moving to another project because 1. I'd rather not waste more money on anything Ajman/Chapal related 2. The project they suggested was Corals which is also delayed a year. So all that was left was to get the official response to whether I get a refund or not. I asked through email since I was out of the country and didn't get a response after multiple emails leading to some legal action threats.

So last week I got back and went to the Chapal offices....Best Real Estate or something (yeah name is awesome isn't it). Clearly they read the emails since they knew about my refusal and legal action threat. So here's the guys response to why I can't get my money back.
Chapal doesn't have the money. It got spent on acquiring the land. BOOM.
God I wish I was recording that. To hear such a thing from the crm of a "Master Developer" is just...no words. Also, this is the same excuse to why I shouldn't go to court. All I get from that is I'll win but won't get any money cuz they spent it all on the land. Which I don't think would happen if they had an escrow account which only allows money to be removed for construction costs (can someone clarify that for me?).

Basically I told him that it's none of my concern if chapal did such a poor job with financial planning. I didn't think about the whole escrow account allowing only construction costs thing. He then offered me a flat in chapal glory which has 8 floors constructed. So legal action it is....or atleast more legal threats. Actually I don't know yet, but I ain't putting another fil into chapal/mukaty or whatever.

I am in the same situation
they have offered me in glory a 3bed
but now that they are admitting that they have no money the how the fu..k
will they complete construction.

i have been in touch with few guys who have put there money in Chapal Destiny ( Dubai Sports City) and have paid up to 70%
and if you look on there website the construction updates are nothing less than shocking.

untill i dont get a gurentee on completion of glory i am very unsure what to do.

AMS-UAE
what are your thoughts?

without residence visa this project will be never built ( same as the others like , Humaid City, Marmooka City , Awali City etc..)

Chapal is the cheater : If you visit the chapal office you will find they are enjoying the money which the collected from Dubai and Ajman projects.

This time during the cityscape even in the month of OCT please make some posters of chapal and expose them in front of all investor.

Right time is the coming to show your anger at cityscape, don't allow Chapal, R Holding to sell or advertise anything during cityscape expose them in front of media and world class investors.

Chapal the most trusted developer in ajman has no money to build, its a shame!

How many of you guys have recd the escrow account details from chapal for your projects, i have recd mine for chapal dunes by email but surprisingly no call from them yet for the pending payments.

I have decided i am going to be silent until i get a call and see what they have to say. I hope ARRA links the payment plan to construction asap.

Hi All,

I have purchased a 2 bedroom apartment in The Harmony a Chapal Project have paid 35% to date and now my next payment is of 45%, do you think i should pay this? I have emailed ARRA to find out if im entitled to a construction based payment plan, however they never reply back on this matter. All other matters they reply back to me, so it seems like ARRA is on the side of the developer as they are really behind on construction. In the last 6 months they have only gone up 3 floors, at that rate the building will not be complete for another 20 years!!!

cant believe that ARRA is not looking after the investors, as without them no development is possible. Chapal has to be one of the worst developers out there!!! No customer service

I'm in process of changing my payment plan with BL properties to a construction related one.

Have you asked Chapel if they can do the same?

have asked but they refused and offered a payment plan, however if i tokk this new plan up i would end up paying 5K extra!!!

bunch of crooks!!!

I have property which I purchased direct from GSS whilst I was in Dubai in May last year. My view is that all of us should apply pressure by continuously contacting them and thier management directly until we get answers. Agents are normally useless and do not have any power. We all need to contact GSS directly.

If everone who has property and sees this post does it, I am sure this will help make progress. At least it will give us more direct information. Please join me in doing the following.

Call 00 971 6 746 6441 (GSS Ajman sales/service office)

Ask the following questions:

1. What is the reason for delays?
2. When are contracts to be issued? ask for date
3. When will construction start? ask for date
4. Ask for the ARRA Escrow Account information
5. Why have GSS not sent a letter or email fully explaining the reasons for the delays and how they intend to compensate us.
6. As project is delayed by so much- Ask for your full money back if you do not get contract within 30 days. Insist on this. Threaten legal action

At the end ask them to send you an email confirming the answers to your questions. If they can not answer the questions, then ask to speak to someone senior. Do not let go.

I have already made several calls. The first person they will put you through to is Joseline (extension 10) who is "customer service" and I think just the receptionist - She is friendly buy does not have a clue. She told me in May that Piling had been done and construction was under way.

The second person they will put you through to is the sales guy Mr. Masood (extension 23). He will say they are doing all of the above and are waiting for ARRA to issue escrow account and documents, but will NOT give you definitive dates. The attittude is laid back. Just tell him you want to speak to the boss - Mr. Max Shaw

Then they will refer you to Miss Genie Geo (ext 22). It takes several calls to get through to her. It may be best to contact her direct in the first instance. She is Mr Max Shaw's personal assistant. She will say that contracts are delayed (yet again) and are yet to be approved by ARRA and blame them. She will also blame the master developer for being late. She will say that they will call you back - but they will not. Tell her that you want your money back unless you get the contracts within 30 days. Ask to speak to Mr. Max Shaw.

GSS have other projects in the UAE and many other companies in the UAE. They just need to be pestered into action on the 5th Avenue project. If all of us do this, I believe they will make it a priority, put more resource behind this project, and we will get our contracts and further progress - but we must be persistent and ask for your money back immediately or a firm date when we will get your contract.

Also speak to the head company accountant - Mr Imran Rashid (dial ext 26) to get money back if contracts not received within 30 days. If he is not there ask his secretary to call you back. I was told that he is acting boss as Mr Shaw is frequently not around.

Do the same again after a day or two. Do not be fobbed off. They have our hard earned money. Keep at it. Ask for money back or the contracts.

Please lets do this together. If we do not, they will not give it priority and simply delay and delay. They need to know that if we do not get contracts and progress soon we will escalate to the media, do visits in Dubai and take legal action. If we do this collectively it need not be expensive. I have Emerati Legal contacts.

Do you want me to email you my letter to them, to which I got no reply !!

I am also pursuing getting their fraudulent web site removed by The Planet (the hosting company they use) - please email abuse@theplanet.com explaining how this site is misrepresenting and luring investors into parting with money - the more pressure, the better.

Regards

The Torch

Had called Best Emirates Real estate, chapal worlds real estate arm yest for the latest update on Chapal Dunes. When asked that we have heard from other investors that Chapal says that they do not have enough money to build as they have spent eveything buying the land, Customer service manager said that its not true. Why will we tell investors all this and expose ourselves. He said that they are hoping to start construction within this year as their architect had done some modifications to the plan and they are still awaiting clearance from the Ajman land dept on these new changes.
I was very rude and released my frustration on him and he was continuosly telling me not to worry as they are coming up with another payment plan linked to construction after Ramadan or the other option would be to transfer to their already upcoming developments i.e. chapal glory at the same cost. The only difference we would need to pay would be the difference in area.

I'm pretty sure the crm was just fibbing so that I wouldn't take legal action. Not the smartest thing to do, but I doubt they have any smart responses. They've done alot of things that I think wouldn't look good for them. Taking money without escrow accounts, then using it to buy the land. Not to mention telling investors of the delay months later, while still taking money. Just to clarify I'm sure he was talking about giving the money, we invested, back. For construction purposes they'll be using the money that now goes into escrow. They won't have enough money for construction if investors stop paying.

Karan,

Do you have the contract from Chapal yet, as per their contract if you wish to cancel then you pay 20% of the unit cost and the balance will be refunded to you.

Incase you have signed for the extension plan then you forefeit 30% of the unit cost.

Hey Jeff,

Yeah I have the contract. 20% would mean I lose 80000 which is a pretty big deal for me. I guess now its more that I just don't want to let them get away with something like this. They've clearly broken the agreement and I should receive some compensation.

Hi All,

I have purchased a 2 bedroom apartment in The Harmony a Chapal Project have paid 35% to date and now my next payment is of 45%, do you think i should pay this? I have emailed ARRA to find out if im entitled to a construction based payment plan, however they never reply back on this matter. All other matters they reply back to me, so it seems like ARRA is on the side of the developer as they are really behind on construction. In the last 6 months they have only gone up 3 floors, at that rate the building will not be complete for another 20 years!!!

cant believe that ARRA is not looking after the investors, as without them no development is possible. Chapal has to be one of the worst developers out there!!! No customer service

I disagree, Lake View Real Estate (Lake View Towers 1-5) is the worst developer out there...they have built absolutely nothing and the CEO has been arrested on fraud charges.

I have also invested in Chapal Dunes. I have spoken to Chapal on a few occasions and they come up with all the excuses mentioned on the previous page. WOuld be good if we could do something as a group...

london 21

u r rite, think the best way to get our money back will be thru a group effort.

hello

is there anyone who has bough an apt at rainbow tower b10 or b15, the company is sweet homes real estate i need urgent suggestion about future payments to this comp or not
please help

thanks

ahmed

guys
i know the owner honeid lackani well he left the country along with his family and went back to pakistan they closed down their office in all attar tower and every got laid off and they all gone you will not get your building guys so give up hope stop paying payments

07/October/2009

Emirates Lake Towers,Ajman

http://i34.tinypic.com/160edlv.jpg

http://i36.tinypic.com/2i0t2ci.jpg

hahahaha
thanks imre as i said i know the owner of chapal and BL properties Bl properties owner left UAE for a wile now and is not comming back and their office on the 3rd floor in al attar business tower closed down maybe they will build something in 10 years if lucky but i cant speak about chapal owener i dont know what happend to his fat ass

Chapel was found with bags holding in hand and seeing the other projects as visitor in cityscape (Remember chapel was always platinum sponsor of past event), no one from Ajman was there in cityscape except BSEL and they were selling @ 425/-

Chapel was found with bags holding in hand and seeing the other projects as visitor in cityscape (Remember chapel was always platinum sponsor of past event), no one from Ajman was there in cityscape except BSEL and they were selling @ 425/-

thats still too expensive the cost of constuction i rember in emerets city and emerests lake towers when last year the cost of constuction of a finished project including advretising and all cost was 375 to 400 dhs per sqft those projects should sell for 200 dhs then it would be better

Chapel was found with bags holding in hand and seeing the other projects as visitor in cityscape (Remember chapel was always platinum sponsor of past event), no one from Ajman was there in cityscape except BSEL and they were selling @ 425/-

This is not a good sign that Chapal did not participate in cityscape !
They may no longer have access to the remaining monies (if any left) in Escrow accounts to spend on non construction related requests.

BL properties have allowed me a one year payment break on this project even though the ESCROW account is in place.

I have spoken with Mr. Sohail at BL who said they were having problems with the handover of the land from Chapal.

Have any other buyers been offered the same?

Regards

BL properties have allowed me a one year payment break on this project even though the ESCROW account is in place.

I have spoken with Mr. Sohail at BL who said they were having problems with the handover of the land from Chapal.

Have any other buyers been offered the same?

Regards

We are buying direct from Chapal World - in their Corals tower. We have paid just under 50%. They have extended our payment plan by 1 yr to cover the delay - but not offered a payment break - We will visit their offices at the end of this month as we will be in Dubai then and will be pressing them to suspend our payments too. We will try to find out when they intend to start Emirates Lake Towers.

BL properties have allowed me a one year payment break on this project even though the ESCROW account is in place.

I have spoken with Mr. Sohail at BL who said they were having problems with the handover of the land from Chapal.

Have any other buyers been offered the same?

Regards


tell him musa told you to tell him to stop the bs he knows me well

I visited best emirates real estate office today(chapals real estate arm).

From the feel of it they do not intend to start Emirates Lakes towers at all, reason simply no cash flow.

I have an apartment with them in Dunes, tried a lot to convince them to return my money.

I have paid 30% of the unit cost so far and had signed the extension plan, as I mentioned earlier if I wish to cancel i will forfeit 30% of the unit cost i.e. i end up getting zero.

Told them to deduct 20% from the amount I had paid and return the balance but they disagreed.

Finally, I was offered a transfer in Chapal Glory which is under construction. Glorys 9th floor is presently under construction and I was told the completion is in 2011.

I had stopped my payments since June 2009 for the Dunes and now I think it was a smart move atleast I saved 30k. I dont think i will ever get the 130k back from Chapal, I am not going to pay a single penny more nor I am going to agree to be transferred to Chapal Glory.

I would suggest all you guys stop paying any more to Chapal, dont keep adding to your dead investments.

Comments welcome....

[QUOTE=jeff202008;45108009]I visited best emirates real estate office today(chapals real estate arm).

From the feel of it they do not intend to start Emirates Lakes towers at all, reason simply no cash flow.

QUOTE]

I talked to BL Properties yesterday. They insist the construction will be continued, not cancelled. They only wait for "some decision from master developers. As soon as we received the approval and decision we will let you know and to start the construction by mid. Novemeber".

Does anybody know, what exactly is the problem between master developer Chapal and BL Properties?

We spoke to Chapal yesterday and they also told us consturction will start on Emmirates Lake Towers in the next few months. We are going to Dubai tomorrow so will visit them at the weekend to find out more.

I went to BL office yesterday and spoke to one of the after-sale department representative. They insist that they have money to do the construction. The only reason why they don't do it is that their contractor is buncrupted. BL has found another contractor. Now they are in the process of signing agreement. Most probably they'll start construction in the beginning of 2010. They give payment "relaxation" now till that time.

They have given me a years payment break, till Nov 2010!

they been saying they will start constuction for a year an half and you guys still belive them?
STOP MAKING YOUR PAYMENTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

They have given me a years payment break, till Nov 2010!

What tower are you talking about? BL said they will start first with Royal Plaza (in ELT).

What tower are you talking about? BL said they will start first with Royal Plaza (in ELT).

Royal Plaza

Hi Guys
This is my first post, having read your comments, thought I'd join in. Have purchased from GSS in 5th avenue project - paid around 40% to date, still no contract, and no construction either. Am really annoyed at lack of communication from this developer, and continual fobbing off. I appreciate that there are delays from top to bottom, and thus most/all projects have been affected. My concern lies purely with GSS and their professionalism, or lack of it! It is one thing to incurr delays and keep investors informed of the progress, but GSS really takes the biscuit! I am not the only disheartened investor - if you look on PropertyCommunity, there are many of us. I keep reading contradictory comments - some of you say ELT will not happen, others say it will (like BL and Royal Plaza above). Does anyone have any hard evidence, perhaps in writing, rather than speculation, or just hearsay?

All I know is what the developer tells me!

I'm sure that only Chapel can confirm whether or not ELT will go ahead but trying to get any info from them is like trying to get blood from a stone.

At least the ESCROW account is in place and that gives some form of security and I'm reasonably happy that BL have given me a years payment break.


Regards,

Kevin

I have been following up as well with BL. They told me exactly the same thing.. .. contractor went backrupt... they are signing an agreement with a new one for Royal Plaza. Thats where I bought.

Chapal is still blocking everything... once they release the plot, I believe BL will deliver.

HOWEVER,... I keep asking myself this question. Why the &%$£ did I buy an apartment in Ajman. Even when BL delivers, do you think electricity will be available? Thats the next problem to worry about.

Inv.

Hi All
We just got back from Dubai and having visited Chapal we were told the ELT is delayed due to the Ajman government bringing yet more new rules out - they have now told Chapal that they must lay proper access roads round ELT before they can start construction. Chapal told us they intend to start this work in the next few months.

We were offered the opportunity of moving our apartment to one of the four towers that they have started constructing in Emirates City at the same price as we have paid for our apartment in ELT. These towers are scheduled for completion in 2012.

I must say they were very honest with us and we came away feeling reassured that they are a competent developer and that they are trying their best to overcome problems during what I'm sure you will all agree is a terrible time for both developers and investors alike.

Dubai is obviously not the only place that has been hit hard by the current economic crisis. I think us investors must work with the developers to protect our investment. Property everywhere is just not selling like it was.

Sorry to state the obvious but not all developers are bad.

There seems to be a lot of negative comments on lots of skyscraper threads giving bad names to developers, some of which I am sure are justified. I feel that some people though, who bought off plan early thinking they could sell quickly and make a profit, are the ones who are giving some of the developers bad names as they can no longer sell their units in this current climate.

elt is a long way off and i read posts about people wishing to move to svannah towers of gss from other developments and similarly of chapals.
i habe 2 fkats in destiny of chapals and one in gss savannah towers in emirates city.
i have done the rounds as well like most of you.
imo all investors of gss of whichever development you are from should join forces to see that they are registered with arra as they dont seem to be.
we can join hands and take them to court,strength is in no's.
my email is luthrajagdeep@aol.com
my details are below and i suggest if we can contribute a small amt and meet and appoint a small team to go to ajman and start legal action or at least seek legal advise it would be a start.
they have started something like this in dublin called concernedinvestorsin dubai but that is for a select no of projects only.
let me know if people are interested
dr.j.luthra
tel no is 00447904542648.
glasgow
uk

I hear what you're saying DubaiBanks about some developers not being as bad as others. It would help if developers like GSS kept us investors in the picture though. Appreciated these are really tough times for all concerned, but I feel that these people have a duty to keep us informed, even if it means severe delays. This would go some way towards instilling trust and helping relations. The lack of professionalism from them (esp GSS!) makes me wonder what they will be like in the future if they're like this now?!
Hi Jagluth12. I like your idea about joining forces to tackle GSS. You will find a lot of investors of GSS's 5th avenue project on
http://www.propertycommunity.com/forum/uae-property/9535-openshore-gss-developers-15.html
Perhaps if you post there, you will get a good number of irate GSS investors. Count me in!

I have just received information from my lawyers that they have successfully obtained a judgement against the developer for my units. If anyone needs information, please let me know.

I have received a few private messages for my above post. I have replied to each of you. If anyone needs more information on the decision of Ajman court, amount of interest, compensation awarded, or costs, let me know. Thanks.

Good luck,

Kev

I have received a few private messages for my above post. I have replied to each of you. If anyone needs more information on the decision of Ajman court, amount of interest, compensation awarded, or costs, let me know. Thanks.

Good luck,

Kev

Kevin,

Please could you advise more informations about the steps you processed to get a positive result from Ajman Court.

I would like to do the same and I want to know more details.

Thanks

Kevin,

Please could you advise more informations about the steps you processed to get a positive result from Ajman Court.

I would like to do the same and I want to know more details.

Thanks

I have received several private messages from users on Emirates City, Asia Star, Goldcrest, Best Homes and other properties of Ajman. I will try and respond to all queries in general:

i. we are a group of ten investors for one project and I'm part of other group of thirty investors for

i. We had visited the construction site sometime in April 2009 and noticed that there was no sign of construction, there was no site-office, there was no staff in the office

ii. we approached more than fifteen law firms until we met and decided to go with one of the very well-known property law firm. The firm's partners advised us to wait for some time since there was no proper government body and that laws were not very accurate

iv. The lawyers finally filed the case in September 2009 for our properties and we got our judgement in first week of November 2009

v. The lawyers have recovered all the monies we have paid. I am not sure about compensation but I will be meeting them next week to know how much compensation is included.

Good luck to all of you!

I have received several private messages from users on Emirates City, Asia Star, Goldcrest, Best Homes and other properties of Ajman. I will try and respond to all queries in general:

i. we are a group of ten investors for one project and I'm part of other group of thirty investors for

i. We had visited the construction site sometime in April 2009 and noticed that there was no sign of construction, there was no site-office, there was no staff in the office

ii. we approached more than fifteen law firms until we met and decided to go with one of the very well-known property law firm. The firm's partners advised us to wait for some time since there was no proper government body and that laws were not very accurate

iv. The lawyers finally filed the case in September 2009 for our properties and we got our judgement in first week of November 2009

v. The lawyers have recovered all the monies we have paid. I am not sure about compensation but I will be meeting them next week to know how much compensation is included.

Good luck to all of you!

This is a copy of their recent news letter - http://www.ecademy.com/node.php?id=139179

Kev

I have received several private messages from users on Emirates City, Asia Star, Goldcrest, Best Homes and other properties of Ajman. I will try and respond to all queries in general:

i. we are a group of ten investors for one project and I'm part of other group of thirty investors for

i. We had visited the construction site sometime in April 2009 and noticed that there was no sign of construction, there was no site-office, there was no staff in the office

ii. we approached more than fifteen law firms until we met and decided to go with one of the very well-known property law firm. The firm's partners advised us to wait for some time since there was no proper government body and that laws were not very accurate

iv. The lawyers finally filed the case in September 2009 for our properties and we got our judgement in first week of November 2009

v. The lawyers have recovered all the monies we have paid. I am not sure about compensation but I will be meeting them next week to know how much compensation is included.

Good luck to all of you!

Well done! How about the cash; did you get it? I believe they don't really have money.

You should let us know the reference of this cabinet in case we want to do the same thing. How much fees did they charge for the whole process?

thanks!

Oh I wish I was in Dubai right now. Anyone with a flat in Liberty Residences/ELT looking to take legal action. I've already contacted the lawyers kevin dealt with. Waiting for their reply. I hope they can take care of this without me being there. I know they require the documents which I can arrange.

Hello all,
This is my first post.
We have already invested in Ajman.
Let’s hope for the best and prepare ourselves for any adverse event

What I propose is the following:
I am willing to maintain a database of the Ajman investors. Let’s call it Ajman Investor Group (AIG). If and when the need arises we can get in touch and take any group action which might be required.

Database will contain the following information.
- Investor’s e-mail address
- Size of the unit (studio, 1 bed etc)
- Investment building (e.g. Emirate Lake Towers)
- Master developer’s name (e.g. Chapal World L.L.C.)

If you think this is a good idea and want to be part of Ajman Investor Group (AIG) then please send the requested information to AjmanInvestor4@Gmail.com
From time to time, I will send you updates re. the total members of the Ajman Investor Group (AIG).

But if there is already such a group in place and such information is already being collected then please let me know so that we don’t have to re-invent the wheel.
Or if you think that there is a better idea then please share it with us so that we can start preparing ourselves for any eventuality.

Thanks and kind regards.

I have received several private messages from users on Emirates City, Asia Star, Goldcrest, Best Homes and other properties of Ajman. I will try and respond to all queries in general:

i. we are a group of ten investors for one project and I'm part of other group of thirty investors for

i. We had visited the construction site sometime in April 2009 and noticed that there was no sign of construction, there was no site-office, there was no staff in the office

ii. we approached more than fifteen law firms until we met and decided to go with one of the very well-known property law firm. The firm's partners advised us to wait for some time since there was no proper government body and that laws were not very accurate

iv. The lawyers finally filed the case in September 2009 for our properties and we got our judgement in first week of November 2009

v. The lawyers have recovered all the monies we have paid. I am not sure about compensation but I will be meeting them next week to know how much compensation is included.

Good luck to all of you!


Could you please tell the law firm and the lawer in Dubai you went for? I invested more than AED 200,000 (around GBP 33,333) in Times Square ELT but so far no construction at all. I hope I can get my money back through a legal action.

Thanks

Yes, please check their newsletter:

http://www.ecademy.com/node.php?id=139179

Hi Guys

This is my first posting,there is quite alot of interesting feedbacks from everyone.I personally think everyone is giving negative feedbacks regarding 5th avenue,and so it should be.I don't like the commitment the developer have to the project,we could be waiting very long before the project is completed or if ever gets built.Therefore i've decided to pull out,ofcourse i want my money back and i'm looking for legal ways of getting out.I read your posting and would like further information on how i can follow your route and how much they charge for whole process.

Regards

LAXEY

Hi Guys

This is my first posting,there is quite alot of interesting feedbacks from everyone.I personally think everyone is giving negative feedbacks regarding 5th avenue,and so it should be.I don't like the commitment the developer have to the project,we could be waiting very long before the project is completed or if ever gets built.Therefore i've decided to pull out,ofcourse i want my money back and i'm looking for legal ways of getting out.I read your posting and would like further information on how i can follow your route and how much they charge for whole process.

Regards

LAXEY

Hello Laxey,

There's a group of investors from 5th avenue that are trying to get together to get our refund.

Please check the 2 relevant threads at the following website.

http://www.propertycommunity.com/forum/uae-property/


respond on that message board if you're interested

regards
kilajoe

Hello all,

After my last posting, 6 people have contacted me to become part of the database (Ajman Investor Group (AIG)):

Below is the breakdown of the investors and the buildings they have invested in:
1 Chapal the glory-Emirates city
1 Chapal Flora- Chapal Flora Residences
2 Lake Signature- Emirates Lake Towers
1 Savannah Tower-Emirates City
1 Golden Tower- Emirates Lake Towers
Total=6


If you want to be part of this database, please send the below information to AjmanInvestor4@Gmail.com


- Investor’s e-mail address
- Size of the unit (e.g. studio, 1 bed etc)
- Investment building (e.g. Emirate Lake Towers)
- Name of the Development (e.g. Emirates City)
- Master developer’s name (e.g. Chapal World L.L.C.)

Thanks.

I have paid different fees towards different properties in Ajman. Take a look at the GSS thread, they have a group and they have approached the same lawyers. Its advisable to form a group so that your cost is low. Let me know if you need more information

Hi Guys

This is my first posting,there is quite alot of interesting feedbacks from everyone.I personally think everyone is giving negative feedbacks regarding 5th avenue,and so it should be.I don't like the commitment the developer have to the project,we could be waiting very long before the project is completed or if ever gets built.Therefore i've decided to pull out,ofcourse i want my money back and i'm looking for legal ways of getting out.I read your posting and would like further information on how i can follow your route and how much they charge for whole process.

Regards

LAXEY

Yes, please check their newsletter:

http://www.ecademy.com/node.php?id=139179

Some developers exchange Ajman properties for Dubai. The amount paid is deducted from the total price. More information on request: rejuliya379@list.ru

Is there a group who has been taking legal (or other) action against GigaStar and their failure to deliver? Whatever issues they have on delivery is with the government of Ajman and they must resolve it between themselves. If there is a group who's taking action please let me know. Thanks.

Dear All

Just as some clarification on the group action comments by Kevin_1980in, forming a group does not necessarily result in lower costs to each investor. I am part of a group formed against an Ajman developer and approached lawyers recommended by Kevin.

We have met and been advised directly by these lawyers that each investor must make their own representation and that Dubai / UAE law does not allow for a group action in this manner. The reasons include the fact that each investor will have slightly different situations, possibly different contracts, signed at different dates etc...

Please don't consider grouping as a means to save money, this will likely not be the case, though we are already seeing advantage in forming a group, pooling experiences, knowledge and having more weight as a group.

Regards

The Torch

Hello all,

After my last posting, 6 people have contacted me to become part of the database (Ajman Investor Group (AIG)):

Below is the breakdown of the investors and the buildings they have invested in:
1 Chapal the glory-Emirates city
1 Chapal Flora- Chapal Flora Residences
2 Lake Signature- Emirates Lake Towers
1 Savannah Tower-Emirates City
1 Golden Tower- Emirates Lake Towers
Total=6


If you want to be part of this database, please send the below information to AjmanInvestor4@Gmail.com


- Investor’s e-mail address
- Size of the unit (e.g. studio, 1 bed etc)
- Investment building (e.g. Emirate Lake Towers)
- Name of the Development (e.g. Emirates City)
- Master developer’s name (e.g. Chapal World L.L.C.)

Thanks.

Does this include Marmuka city too?

Hello all,

After my last posting, 6 people have contacted me to become part of the database (Ajman Investor Group (AIG)):

Below is the breakdown of the investors and the buildings they have invested in:
1 Chapal the glory-Emirates city
1 Chapal Flora- Chapal Flora Residences
2 Lake Signature- Emirates Lake Towers
1 Savannah Tower-Emirates City
1 Golden Tower- Emirates Lake Towers
Total=6


If you want to be part of this database, please send the below information to AjmanInvestor4@Gmail.com


- Investor’s e-mail address
- Size of the unit (e.g. studio, 1 bed etc)
- Investment building (e.g. Emirate Lake Towers)
- Name of the Development (e.g. Emirates City)
- Master developer’s name (e.g. Chapal World L.L.C.)

Thanks.

Hi,

I am interested in legally persuing the developer as well and I would like to send you the details over email. Kindly please let me know who is coordinating the contact with the Lawyers and if there is any meeting setup with them then please keep us posted so we can coordinate and meet in group if required. So please add me on the petitioners list as well. Btw, my email is mutahirw@gmail.com

thanks,
Mutahir.

No. There is no one from the Marmooka city (yet). Please see the latest update

Hello all,

Latest update on Ajman Investment Group (AIG): Ajman Property Investors who want to take some action to salvage their investment in Ajman

There are now 18 units (few people own more than one unit) in the database. Last update had: 6 units.

Below is the breakdown of the buildings in which the members of this group own their units::

Investment building-- Development
Chapal the glory - Emirates city
Chapal Flora - Chapal Flora Residences
Lake Signature - Emirates Lake Towers
Lake Signature - Emirates Lake Towers
Savannah Tower - Emirates City
Golden Tower - Emirates Lake Towers
Lake View Tower 1 - Emirates City
Royal Plaza - Emirates Lake Towers
Goldcrest Dreams 2 - Emirates City
Chapal Dunes - Emirates Lake Towers
Savannah Towers - Emirates City
Cassia Tower - AL Humaid City
Vu De Lac tower - AL Humaid City
Gold Crest Dreams 1 - Emirates City
Gold Crest Dreams 2 - Emirates City
Gold Crest Dreams 1 - Emirates City
Gold Crest Dreams 2 - Emirates City
Gold Crest Dreams 2 - Emirates City

Total=18


If you want to be part of this database, please send the below information to AjmanInvestor4@Gmail.com


- Investor’s e-mail address
- Size of the unit (e.g. studio, 1 bed etc)
- Investment building (e.g. Emirate Lake Towers)
- Name of the Development (e.g. Emirates City)
- Master developer’s name (e.g. Chapal World L.L.C.)
-City and country of Residence

Thanks.

Oh I wish I was in Dubai right now. Anyone with a flat in Liberty Residences/ELT looking to take legal action. I've already contacted the lawyers kevin dealt with. Waiting for their reply. I hope they can take care of this without me being there. I know they require the documents which I can arrange.

Karan,
I am also a Liberty investor. I Bought a 2 bed from Mukaty. As you know they didn't register the project with ARRA. They transferred my money to Chapal without my consent. Chapal are now trying to offer me an alternative in Emirates City but quite frankly I don't like the offers and don't see why I should take it. They are refusing to refund my money, leaving me the legal route only. Can we discuss please?

Karan,
I am also a Liberty investor. I Bought a 2 bed from Mukaty. As you know they didn't register the project with ARRA. They transferred my money to Chapal without my consent. Chapal are now trying to offer me an alternative in Emirates City but quite frankly I don't like the offers and don't see why I should take it. They are refusing to refund my money, leaving me the legal route only. Can we discuss please?

Welcome to club reality and Ajman property development collapsing like a pack of cards!

Similar issue with GSS Property and 5th Avenue. They are trying to transfer investors to Kings in Marmooka, with a bad contract that includes no responsibility to connect electricity or water at the end of contract!!

Refusing to hand back money, stating 5th Avenue is on indefinite hold, but will be built one day - ha ha!

Be prepared to lose all monies sent over there. You won't get a penny back.

The Torch

Can someone advise me regarding Asia Residence??? I have recieved a letter from Asia Star saying they have the planning and to continue payments, i don't wether to belive them or are they just saying that to get more money??? Help!

Can someone advise me regarding Asia Residence??? I have recieved a letter from Asia Star saying they have the planning and to continue payments, i don't wether to belive them or are they just saying that to get more money??? Help!

Check out www.arra.ae and see if they are on the registered .pdf list (I cannot see them).

If not, they are not registered and likely your investment is at risk.

Given it is in Emirates Lake Towers, it is not likely to be build, as the master developer has problems and has indefinitely delayed the infrastructure build.

I would not make any further payments without:

a) A formal certificate from the develop of their ESCROW account.
b) A formal certificate from ARRA of their registration.
c) A formal contract from the developer with penalty clauses on build time.


PS: You won't get a) b) or c).

Have you seen this site: www.ajmaninvestors.com ?

The Torch

removed

Just for you http://www.facebook.com/group.php?gid=41258774240
Chapal's facebook group.

removed

all rain bow towers in ajman are a real dram a nd jock!fox are you still paying the money!ther is no boady in the site all of them gone and all the construction is stopped and I think it time to organize ourselves and re claim the money together we should all be united and I am organizing any legal means to get our money and compensation too here in London!!!

raely am serious and I allready started the legal avenue!the rainbow towers are meant to be ready last January.I spoke to them then they say definetly in august 2010 hahahah what a jock they are on the 7th floor and by 2030 they shall reach25th floor what a jock!If you let atortoise to move hope it moves fast!any one who wants to join me on a legal avenue please do not hesitate to contact me at alexandr.wolde@yahoo.co.uk and am organizing a legal avenue against sweet home !tx

all rain bow towers in ajman are a real dram a nd jock!fox are you still paying the money!ther is no boady in the site all of them gone and all the construction is stopped and I think it time to organize ourselves and re claim the money together we should all be united and I am organizing any legal means to get our money and compensation too here in London!!!


Really not sure what effect legal proceeding in the UK can have on investments in Dubai, let alone Ajman. Your contract should state that your investment is govern by laws of the UAE which UK establishments have no idea about or have the jurisdiction to enforce anything.

I may be wrong, but be careful on wasting any funds on lawyers in the UK. Actually, I strongly advise NOT to deal with UK lawyers on this. If you chose to use a lawyer, find one in Dubai/the UAE. But again, doubt they can do anything to reclaim funds.

Our best route at the moment is ARRA

removed

removed

Originally Posted by catherinez View Post
I do have the names and numbers of individuals I mentioned. I can forward you by PM or email, please confirm. The firm's name is TLG.


We know the firm's name is TLG. Forty investor's, and I already knew that more than a year ago. We even spoke to Mr. Thucker. The problem is the firm want's to be paid up front, but no body has concrete proof the investor's who got they're money back really exist, and we all know there's a lot of people who pray on investor's who are stuck in bad realestate investment's in the UAE.

What we are interested in is proof they really exist, and got they're money back as I mentioned in the above post. Show me what I requested since you state you got your money back, and that should do the job.

All I'm getting from you, and other unknown forum member's is pumping business to TLG, that's all, and the worst part of all is it's all over the UAE forum where construction is at a stand still, hold, or cancelled.

In short, prove to me, and my fellow investor's who you are, and show me the paper work to back up your story. It's that simple if it's true, if you can't back it up then obviously it's a farse. I don't want other people's number's, nor email's, I want YOUR'S since you very well stated you dealt with the firm, and got your money back.

removed

Recently I tried to contact BL Propertys. The result: all the phones are not working (landline and 3 mobile No mentioned on their website). Their 'Live help messenger' is always offline. They also moved out of their office in International City. Nobody knows where... Does anybody have their valid contact details?

Taken a few days ago.........

http://i54.tinypic.com/20qjdbo.jpg

http://i55.tinypic.com/2zohe03.jpg

This is Emirates City , Emirates Lake Towers still desert and wont be ever built..

Just for the kind information of people who have been affected by these corrupt builders & developers Giga group, (BL) Bukhari & Lakhani Propertries and Chapal, Samama and several other Pakistani developers. These builders and developers are running their businesses in Pakistan and overseas in hundred of Millions of dollars. Please pm your message with your developer name & details & I will tell you what businesses they are running and how you may recover your money from them. They are minting money by investing your hard earned money by investing in other projects.

Every time i see investors and people from all over the world who have been robbed by these developers, my blood boils and i feel sorry for these affected brothers.

All, please can all Chapal investors please join a group on facebook called 'Chapal Victims'. We need to group in our hundreads or ideally thousands to be heard - it is as simple as that.

Have you invested in any of the Chapal World Properties in either Ajman or Dubai? These are: Chapal The Presidency, Chapal The Harmony, Chapal The Glory, Chapal The Legacy, Chapal Corals, Chapal Dunes, Chapal Signature, Chapal Tropicals, Chapal Flora Residences, Emirates Lake Towers and Chapal Emirates Points.

I am looking to identify as many Chapal Word investors as possible with a view to setting up an Action Group to try and get the Government to take notice and some action with a view to recovering investor’s hard earned money. Options will also include group court action and/or supporting and informing those who are going down this route alone. I am a Chapal Investor myself and I am just about to commence court action but even getting to this point has been a journey of discovery and frustration.

The Action Group will also be a means of support and communication for investors. I will consider setting up a website if enough interest but first I need to gauge whether I can identify enough engaged and active Chapal investors to make this worthwhile and effective.

Please email your details to ChapalWorldActionGroup@Hotmail.co.uk (ChapalWorldActionGroup@Hotmail.co.uk) providing information on what property you have invested in and how much you have invested. Please provide brief details of any action you have taken and what the outcome was. I may use some of this information in the website if it will help others. Also personal details will be kept strictly confidential.

Also if you are in contact with other Chapal Investors – please pass on this message and ask them to email. You can also support by posting this thread in any other forum/website associated to Chapal.

paradise lakes 21/11/2012


http://www.emiratescity.org/content/paradise-lakes-21112012