NEVER BUILT-Sharjah: SAHAB TOWER, 56F Res

[TowerPower]

Any info on other Sharjah towers Sultan?

[Saif]

if anyone intersted at all i can take photos of sharjah's skyline and new buildings infos, today ive seen more than 4 buildings being build and all are 40+ floors

[TowerPower]

Originally Posted by Saif

if anyone intersted at all i can take photos of sharjah's skyline and new buildings infos, today ive seen more than 4 buildings being build and all are 40+ floors

I think I speak for everyone in saying we'd all appreciate that greatly. There's
been no news or updates from Sharjah now for months.

[The-Sultan]

I saw a new 61 floors tower being constructed on alqasba canal in Shj. very nice tower

[dubaiflo]

foundation already done ??

[IFA Properties]

Official name: Sahab Tower
Technical Data
Height (struct.) 219 m 717 ft
Floors (OG) 56
Construction end 2006
Companies involved in this Building: Horizon International Consulting, Al Abbar Aluminium.

[IFA Properties]

This project has been launched almost three years ago with a completion date set for Nov. 2007, at that time it was great, an amazing project, the tallest building in sharjah with very competitive prices, to cut the story short they didn’t start with the building until date, its just a very big hole in the ground, the company has shut down and the municipality has taken over the project waiting for an investor to step in and buy it off and continue, as having a property in this building I just asked for my money back which they promised they will do, but nothing until now and to make things worse the people who took their money got bounced cheque… so what can someone do in this case?? Well nothing, you have to wait and see, so for all the people that always complain about delayed project trust me your in a better situation than many other people….

[Nasrawi]

The design is beyond ugly.

Can we have the title fixed?

[Krazy]

Investors told to file court case to claim compensation

The location of the building and attractive plan enticed hundreds of investors from around the world, especially from UK.

Sharjah: The developer of a luxury residential tower in Sharjah has left hundreds of investors in the lurch - he has fled with millions of dirhams people paid to book flats.

Flats in the 56-storey Sahab Tower, which was to be constructed on Al Buhaira Corniche, were offered for sale by Modern Home Real Estate owned by a Saudi national Mousa Obaid Khalaf Al Harbi.

The location of the building and attractive plan enticed hundreds of investors from around the world, especially from UK. Construction of the building, which started in 2005, remained limited to digging of the basement. The building never took shape to the eye-catching image shown on a huge billboard fixed at the corner of the plot.

Those who invested money to buy flats are now running from pillar to post to recover their amount.

The offices of the real estate company have been shut down and there is no staff even to take calls or complaints.

"We don't know what to do and where to go," said Naveed Ahmad Shaikh, who came from London to recover his money. Shaikh, a British national of Pakistani origin, initially paid Dh1.65 million to buy a penthouse and three flats.

"I checked with the Real Estate Department at Sharjah Municipality about the project and they told me that it was safe to buy property in Sahab Tower because it is approved and registered," Shaikh told Gulf News in Sharjah.

"But, now the officials at the department are telling me to go to the court to contest the case.

"I wanted to relocate my family from London to Sharjah by end of 2007 and even paid school fees for the children but all our plans are ruined," he said, adding that the family is under great stress.

A senior official at the Real Estate Department at Sharjah Municipality confirmed that people have been cheated. Hamad Al Mazroui, Director of the Department, said they are taking the case very seriously. "We have already blocked the land where the building was to be constructed and all the investors have been asked to file a court case to claim compensation," he said, adding that the department cannot be held responsible for this incident.

About its impact on investment in the emirate, he said: "This is an isolated case in Sharjah and most projects are on track."

[Josau]

The Sharjah "Lighthouse", scandalous and not good even though an isolated case. Especially with isolated cases the rulers have to be severe in order not to destroy investors' confidence.

[IFA Properties]

Tower block scam victims to get settlement soon
By Mariam M. Al Serkal and Ashfaq Ahmed, Staff Reporters Gulf News

Sharjah: Investors who lost cash when the owner of an under-construction tower block fled abroad after they paid deposits for apartments will be compensated through the Sharjah courts, a top official said yesterday.

"Residents have already filed a court case, and several are using the same lawyer. We expect this issue to be resolved soon, and they will receive their compensation as directed by the courts after two months," said Hamad Al Mazroui, Director of the Real Estate Registration Office at Sharjah Municipality.

More than 200 people who invested in the 56-storey Sahab Tower in Sharjah lost their money after the owner fled with around Dh85 million.

The flats were offered for sale by Modern Home Real Estate owned by Saudi national Mousa Obaid Khalaf Al Harbi.

Gulf News first reported the scam on January 25. According to Al Mazroui, the owner then allegedly lost all his money and tried to sell the plot of land.

"When we found out the owner wanted to sell the land, we decided to seize it, and then told investors to file a court case against him," he said, adding the department could not be held responsible for this incident.

"We have rules and a certain process that land developers have to go through, and in this case they started out in the correct manner but it all ended wrong."

The owner adhered to the procedure of acquiring a bank guarantee in addition to gaining the necessary approval and registration from various government departments to construct the building. However, he said the settlement would be carried out as per the instructions of the court.

Meanwhile, investors, who lost their money are demanding compensation according to the current market rate.

"The property value has appreciated a lot since I bought it two years ago, and what I want now is compensation at the current rate," said Naveed Ahmad Shaikh, who initially paid Dh1.65 million to buy a penthouse and three flats.

The project was launched in 2004 and was expected to be completed this year.

[Michiel]

Originally Posted by IFA Properties

Meanwhile, investors, who lost their money are demanding compensation according to the current market rate.

"The property value has appreciated a lot since I bought it two years ago, and what I want now is compensation at the current rate," said Naveed Ahmad Shaikh, who initially paid Dh1.65 million to buy a penthouse and three flats.

I think this guy should be happy when he gets his 1.65 million dirham back. He could have lost all the money.

[dubaiflo]

and sharjah does it better than dubai , can you believe it

[fantee]

yep...the guy has fled away..but i heard tht he was caught by the police..
my dad invested there...the money is still stuck..... the case is suited in the court...but nothing such as fast progress...
it was a fraud case of 95 million aed

[kuttika]

does anyone know the progress on this one...................see no further information........has this case been settled

[goodubai]

This case has not yet been solved, we have got a court ruling almost a year ago and have not been paid yet, we just lost hope in getting our money back especially under the current financial conditions!!! is there anyone can share with us some information, we dont know what the next step should be

[kuttika]

There is already court decisions for each individual cases are already out. There are such decisions pending for other people who have filed cases. Once these are covered, the court will take possession of the land on behalf of the people who have won the case- then they can sell and pay investors. The only positive thing in this whole issue is the location of the plot, it is prime and is probably just one left on the corniche.

Originally Posted by goodubai

This case has not yet been solved, we have got a court ruling almost a year ago and have not been paid yet, we just lost hope in getting our money back especially under the current financial conditions!!! is there anyone can share with us some information, we dont know what the next step should be

[goodubai]

i bought three apartments in this development at that time, i have received the court ruling more than a year back, but I really don’t know until this day whom to ask or to contact to follow up, I never see this matter being finalized… I have already recorded the payments done as loss in my books.

[Hamani]

i just was woundering if any 1 has the Advocate's contact who is following up the issue of Burj Sahab. plz do feed me in with the necessary information regarding the case. i have still not filed a claim at court.....

[goodubai]

Originally Posted by Hamani

i just was woundering if any 1 has the Advocate's contact who is following up the issue of Burj Sahab. plz do feed me in with the necessary information regarding the case. i have still not filed a claim at court.....

you can just do it yourself, you can go to Sharjah courts, they are fully aware of the matter, they can help you out.