#PROJECT: AJMAN ONE

[BlkPonyExpress]

I wonder how many of us investors have stopped with their payments? I did once I saw the real quality of finishings, the cut-short project w/o offices, hotels, shops and the "progress" et all. I think I had every right to cancel my payments with them w/o notifying.

[AjmanOwner]

If I had chosen the 20% method of payment for sure I would have walked away long ago, but unfortunately I have already paid 70% for this CRAP project and the only option left is to fight not to pay the remaining 30%.

As you point out the whole AJMAN ONE project has been greatly compromised.

No hotel, offices or shops as promised. Also no chance of residence visa at the moment.

Property prices have dropped at least 30-40% since it was launched, and no chance of renting out or re-sale.

So all in all one big scam and not worthy of the original price per sq. ft

[flagcounter]

[Fed_up]

Hello everyone,

I am one of the silent investors in ajmanone since now i have bitten my tongue, but now i have had enough, I want to pursue this company to get my money back.

I would like to know who owns Aqaar and who the major shareholders are would be grateful if anyone can help.

[AjmanOwner]

I think your find that it's one of the Princes (probably RRR).

Try to Goggle Ajman One and Aqaar for back articles in local UAE newspapers.

Not going to be easy to take them to court, they own the courts!!!!

[akhiabani]

Ajman Investment and Development Authority (AIDA), the government body behind the development of Ajman, one of the seven states making up the United Arab Emirates, has unveiled a semi-governmental company charged with developing its burgeoning real-estate potential and its first project Ajman 1, which will herald its transformation into a niche residential and tourism destination.
“Ajman 1 will be the first of many projects being developed by Aqaar,” explained His Highness Sheikh Rashid bin Humaid Al Nuaimi, Head of Ajman Municipality and CEO, Aqaar.

[AjmanOwner]

As I thought RRR. A real flamboyant play boy Prince with an obsession for fast cars which he has painted orange and black.

A real life Wacko. Now you know where all our hard earned money has gone.

What suckers we all are.

Sad that we bought into the lies and deceit this Emirate was spinning.

[akhiabani]

Conflict of interest or just a big puzzle? Here is man who is in charge of municipality and development of Ajman whose job is to build the infrastructure while he owns Rholding(the big mass at Emiratescity) and Aqaar(Ajman One) and declares force major....

[AjmanOwner]

Exactly . He can claim Force Mejeur for the delayed handover of Ajman One and who has the power to contradict him?

In a democratic country holding all these positions who be illegal, but in a third world back-water Emirate like Ajman corruption is everywhere .

All this I have discovered to late but the message needs to get out so others don't suffer like we have.

[AjmanOwner]

Hi mt31261

It's been 4 weeks since your last pic's. Just wondering if there,s been any further change now that the weather is cooler?( it must be easier for the workers to work outside.)

Also as I noted back in the spring there was a lot of trash and what looked like crates if tiles (our tiles) left outside under the buildings . Is this still there?

If so what has 6-8 months of 40-50 degree temps done to them?

[nassah]

Hi mt31261

new progress pics pls

[nassah]

[skysas]

Hi, guys!

Some new pictures from MT http://files.mail.ru/MYJ74D .

Thank you MT for the pics!!!

[AjmanOwner]

Happy 2013.

A New Year message to Aqaar:- My apartment is now officially 3 years late and judging from the recent photo's posted by syksas it won't be finished this year either. Can you please explain how much longer you think we should wait?

2012 is over and still T4 (which you precisely stated would be handed over by end of 2012) has a lot of on going work.

Is this the reason you have stopped updating your web-site. You can't keep up with your own lies?

[Moon1981]

I would be grateful for those on the ground in Ajman to give an update as to what is happening (if anything just now). If an update could be given about what the progress is with the different towers in particular that would be appreciated?

[Gerry22]

Your working such a gr88. I love this design. Plz give more pic.

[AjmanOwner]

Hi mt 31261

Why no posts recently ?

You know you are our "eyes and ears " on the ground in Ajman

Your personal opinion was always VERY welcomes

Your last photo's only showed SLIGHT progress on 3 towers

Would you say this is the case?

Hope you have not been intimidated by Aqaar for participating in this forum

[AjmanOwner]

Hi mt 31261

Why no posts recently ?

You know you are our "eyes and ears " on the ground in Ajman

Your personal opinion was always VERY welcome

Your last photo's only showed SLIGHT progress on 3 towers

Would you say this is the case?

Hope you have not been intimidated by Aqaar for participating in this forum

[mt31261]

[QUOTE=AjmanOwner;99805334]Hi mt 31261

Why no posts recently ?


Hi every one. Actually i see the construction site almost every week and sent a week ago some pics to skysas but i guess he didnt see my email. anyway.
Honestly speaking there is a lot going on in UAE in regard to real state market. I am an optimist and see things also optimistic. There are people who are so pissed off with the situation over the last few years that they dont want to hear anything positive, therefore i kep myself a bit short in commenting or did skip it simply.

Here my analysis.
In Dubai villa prices increased by 30% and appartment prices by 20% in 2012. Some new projects got launched and got sold out like warm bread. UAE central bank imposed on the commercial banks a 50% cap on expats home loans, but eased it up later as the banks disagreed. They are negotiationg something near 70% as a compromise. The UAE government wants to avoid a new bouble like in 2008. All this means that things are improving in UAE when it is about construction and real state. However the markets in Ajman and other emirates in the north react with delay on this develeopment exactly the way it happened in 2006. This means the positive development in Dubai and Abu Dhabi will reach other emirates 2 years later, means end of 2013 probably. I see many activities in Ajman itself, the dead Ajman Marina project started last year. this will take 6 years to be completed. some other smaller projects started new constructions, new restarants and shops opened and power and water lines under construction. Yet still rents are cheap and appartment prices low, but as i said the wave will reach Ajman with delay.

I went to the site today and went into the parking on tower 4, believe me or not, it was completed, not only the one for tower 4 but also left and right for the entire towers in the front row. i was positively surprised however the problem ihere is not the market development. The problem is Aqaar itself. It seems they simply decided to work only on 3 towers and delay the rest till they get enough cash. This behaiviour is unexcuseable. They simply dont give a damn on the investors and the contracts. This is what is annouying because the way i see it still take another 2 years to get any of the towers except the 3 they are working on completed. this means years of delay.
The only good thing is that this delay is happening paralell to a growing market, means hopefully when our flats are ready the market value will have reached maybe the original price.

Again, i see things in general positive but everybody has to make up his/her own mind.
Thanks for reading

[Moon1981]

hi mt31621, i appreciate your response -you are indeed such a valuable resource for those with limited access to the area just now