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      source Human Rights Watch www.hrw.org (Beirut) - The United Arab Emirates attorney general should immediately drop all charges against five pro-democracy activists to halt their trial, Human Rights Watch said today. The charges of "humiliating" top officials relate solely to the defendants' peaceful use of speech to criticize the UAE governmen […]
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      Dubai June 7, 2011 Nakheel said on Wednesday that its CEO Chris O'Donnell had left the company "after completing his contract terms". O'Donnell, an Australian who joined the developer in 2006, said he had decided to leave Nakheel following five years spent with the company, the statement added. O'Donnell has overseen a traumatic time […]
    • Owner of Dubai Developer Damac Hussain Sajwani files case against Egypt corruption ruling
      Dubai property developer Damac said on Tuesday it had filed an international arbitration case against Egypt over a land dispute and the conviction of its chairman and owner, Hussain Sajwani.A Cairo court last week sentenced Sajwani in his absence to jail and ordered him to pay a $40.5 million fine in connection with his 2006 purchase of land at Egypt's […]
    • Dubai Palm Jumeriah - Investors plan to take legal action
      Investors in Dubai Palm Jumeirah’s Golden Mile complex will this week serve the developer behind the project with a legal ultimatum to hand over their units or issue them with a refund.Up to ten investors in the luxury complex plan to issue Souq Residences with legal notice in a bid to force a resolution to a dispute that has been ongoing for more than a yea […]
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Archive for March, 2008

Porper Use of Force Majeure

Posted by 7starsdubai on March 29, 2008


Wikepedia

Force majeure, French for “greater force”, is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as war, strike, riot, crime, act of nature (e.g., flooding, earthquake, volcano), prevents one or both parties from fulfilling their obligations under the contract.

However, force majeure is not intended to excuse negligence or other malfeasance of a party, as where non-performance is caused by the usual and natural consequences of external forces (e.g., predicted rain stops an outdoor event), or where the intervening circumstances are specifically contemplated.

It is imperative that Dubai’s Real Estate Regulatory Authority make it mandatory for all contracts to include the clause “Any Party asserting Force Majeure as an excuse shall have the burden of proving that reasonable steps were taken (under the circumstances) to minimize delay or damages caused by foreseeable events, that all non-excused obligations were substantially fulfilled, and that the other Party was timely notified of the likelihood or actual occurrence which would justify such an assertion, so that other prudent precautions could be contemplated.“

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Extract of cancelled Towers in Dubai

Posted by 7starsdubai on March 29, 2008


• The Pinnacle 120 cancelled (1)

• Park Square Tower 666.0 m 150 cancelled

• Unnamed Residential Tower 430.0 m 111 cancelled (1)

• Badriya Tower 415.0 m 96 cancelled (1)

• Cancelled Mixed Use Tower 390.1 m 77 cancelled

• United Tower 350.0 m 84 cancelled (1)

• Emirates Hotel 350.0 m 70 cancelled

• Najd Tower 340.0 m 82 cancelled (1)

• Four Seasons Dubai Festival City 320.0 m 72 cancelled

• Marina Gardens 310.1 m 75 cancelled (1)

• Al Durrah Tower II 300.0 m 78 cancelled

• Dubai World Trade Tower 2 300.0 m 60 cancelled

• Dubai World Trade Tower 1 300.0 m 60 cancelled

• The Hexagon 290.0 m 62 cancelled (1)

• Promontory Tower 55 cancelled

• The Tower 65 cancelled

• Dubai Chamber of Commerce Tower 1 50 cancelled

• Beach Towers 235.0 m 45 cancelled

• Marina Tower 205.0 m 51 cancelled (1)

• Al Ghurair Lake Office Tower 200.0 m 44 cancelled

Name Height Floors Status Year Drawings

• Damac Head Quarters 180.0 m 40 cancelled

• Al Ghaith Tower 165.0 m 44 cancelled

• Pacific Tower 160.0 m 40 cancelled

• Mercure Grand Hotel Tower 160.0 m 35 cancelled (1)

• The Monaco Tower 150.0 m 40 cancelled

• The Etoile Tower 150.0 m 40 cancelled

• Nakheel Flamingo Tower 150.0 m 40 cancelled

• Nakheel Falcon Tower 150.0 m 40 cancelled

• Manchester Plaza Tower 145.0 m 38 cancelled

• Al Ghurair Lake Residential Tower 135.0 m 35 cancelled

• Arshia Marina 134.0 m 35 cancelled

• Arabian Heights 95.0 m 15 cancelled

Posted in Dubai | Comments Off on Extract of cancelled Towers in Dubai

More comments about Rera Reaction – Damac Investors Palm Springs

Posted by 7starsdubai on March 29, 2008


Posted in Dubai | Comments Off on More comments about Rera Reaction – Damac Investors Palm Springs

Beware of scam in the real estate market

Posted by 7starsdubai on March 29, 2008


original http://www.7days.ae http://www.7days.ae/showstory.php?id=69614
Last Updated : Wednesday 26 Mar, 2008 – 2 comments

Are you aware about the latest news in the real estate market? A landlord pays a real estate agent to follow the renewal of all the contracts with the tenants. Included in the package offered, there is also the service to CONVINCE the tenant to accept increases in the rent much above the 5 per cent!!

Oh yes, selling you the idea that they are experts in the rent market, the real estate agent convinces you to accept an increase well above the 5 per cent fixed by law as a limit. They also mislead you, by telling the tenants the story that even if you go to the Rent Committee, the Committee itself will adjust the rent up to the market price and therefore increasing the rent for more than 5 per cent, which is absolute false!!!!!!

Not only: if you are unable to accept a 30 or 50 per cent increase, they highly reccommend you to move out and vacate the home and in a very polite way reccommend you another flat or area or home where to move!!! Really a great service offered, congratulations!

And this behaviour is coming from one of the most reputable company as far as the rent market is concerned! Unscrupulous and greedy without ethic: no other way to comment these lies to tenants and these cheaters!
Disappointed tenant
Dubai

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Residents of Springs run dry

Posted by 7starsdubai on March 29, 2008


Springs run dry
Last Updated : Friday 28 Mar, 2008 –
7days.ae By Paul McLennan

Families living in The Springs breathed a huge sigh of relief yesterday when their water was finally switched back on after more than 30 hours. The residents were forced to go without water while an underground network of pipes was expanded to serve the new Jumeirah Park development. Scores of residents told 7DAYS they were unable to flush their toilets or take a shower – and were frustrated at the lack of communication from DEWA.
Briton Alison Dickens, a 48-year-old receptionist, said: “We finally got the water back on at 3pm yesterday. It was a wait of more than 30 hours. I realise these things happen but the lack of communication from DEWA was horrendous. It started on Wednesday morning. We got up and the water was trickling out of the taps. I rang DEWA and they said something had gone through the water main on a construction site at Jebel Ali.
“But throughout the day we got conflicting information and DEWA kept saying the water would come back on, but it never did.” One reader wrote to 7DAYS, saying: “The water for the whole area – Emirates Hills, Springs, Meadows – stopped on the morning of the 26.
“Thousands of homes were affected yet there was no information from DEWA saying what the problem was.” Another, called Marta, added: “Villas in Springs One and Two had no water for over 24 hours. DEWA kept telling me the problem would be solved in an hour, four hours, before midnight, and so on.”
DEWA spokesman Abdulah Alhajri said the water was turned off so the network of underground pipes could be expanded for the new Jumeirah Park development. He said: “All the residents were informed by newspapers and other means, such as direct notices sent to the houses affected. The project work was supposed to be completed on Wednesday but took longer than expected due to technical difficulties.”
But Dickens insisted she had no prior knowledge of the works. “I was not given that information over the phone neither did I see it in the press or have a flyer through the door,” she said. A spokeswoman for Emaar, which built the community, said it could take a while for the water pressure in the area to reach its normal level.
paul.mclennan@7days.ae

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The Palm Springs episode brings the true state of the UAE real estate

Posted by 7starsdubai on March 28, 2008


28 March 2008 at 12:27 am | In Damac, Dubai, Dubai Reputation, Jebel Ali, Palm, breach of contract, greed, lack of government regulation, update | No Comments

On 27 March 2008 the well known Gulf News published a report on Damac’s attempt to ‘buy back’ its Palm Springs plot on Palm Jebel Ali, five years after its launch. This reveals the serious nature of Damac’s unethical and, under any decent government, illegal attempt to squirm out of a binding contract. Surely if Damac is so big and successful, it must have ample funds in its coffers to make sure that those who invested their hard earned money with Damac over four years ago are treated fairly and not cheated. If Sajwani, the chairman of Damac Holding is a man of principle and wants the reputation of Damac to flourish, then he needs to ensure that the Palm Springs investors (or any other investors for that matter) are not treated as shabbily as they are now.

The Palm Springs episode brings the true state of the UAE real estate under the spotlight. It is disappointing to hear Marwan Bin Galita, chief executive officer of Dubai’s Real Estate Regulatory Authority (RERA), say “…get legal advice. It’s very easy but people don’t want to spend money. The problem starts with people signing a contract without asking anybody first.“ Many, if not most investors had taken legal advice before signing their contract with Damac four years ago. We hope RERA takes to task unscrupulous developers like Damac and comes to the aid of investors. We request that RERA monitor contracts being used by developers to ensure that these documents are fair, proper and legal, not like the ones used by most developers today, which allow statements like ‘force Majeure’ to cover anything that the developer may think fit.

HH Sheikh Mohammed has done an amazing job of bringing about the transformation of Dubai into a leading tourist destination. In a recent speech made at Berlin he said “Many leaders promise, we deliver.“

The contract between Palm Springs investors and Damac was a promise, a legally binding promise. All the investors ask is that Damac deliver.

Below is the text of the article that was published in the Gulf News on 27 March 2008

Investors in Damac’s Palm Springs project on Palm Jebel Ali are furious at being ‘bought off’ by Damac due to project alteration.

Continue reading Damac’s Buyback Plan Exposed in Gulf News…

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Another scandal Dubai Property market – Investors Jebel Ali Palm Dubai shocked – Damac Project Palm Springs cancelled

Posted by 7starsdubai on March 28, 2008


A scandal in Dubai property market.

Some comments from investors: Link for more: http://www.skyscrapercity.com/showthread.php?t=133487&page=3

13.March 2008
posted by Turbo

Can confirm that the project has indeed been cancel led. Only two option available to investors:

a) Either transfer to Unit(s) of your choice on another Damac development of your choice at a discounted price 15% below current market

b) or repayment of monies paid by you with 6% interest calculated from the date of each installment payment.

Unethical behaviour of the highest degree if you ask me. In my opinion investors should take legal action against Damac (if that’s possible in UAE).

Damac have decided to pocket YOUR profit rather than honour contracts. Doesn’t say much for business regulation, safety and ethics in Dubai.

posted by househang
March 2008

Damac has been trying to cancel this project for some time and is in fact using the redesign of PJA as an excuse to cancel this project,but I would like to tell them that they have been ill advised and cannot get away with this as easy as they think.

-Firsty Damac has waived its right underclause 23 of the Agreement to lapse the sales agreement by their letter dated 20.06.2004 when they completed purchase of plot from the master developer[Nakheel]-

-Secondly Damac can use force majeure clause only in cases where Palm Jebel Ali is not completed or the plot is not delivered.it does not cover changes due to a redesign or els.

-Thirdly if Damac is not prepared to perform its obligations we should involve Nakheel as the master developer who are responsible for the PJA project as a whole.

I think any investor should reject the Damac offer and get together to make sure that Damac cannot get away with sily excuses.

Posted by Salty
March 2008

I absolutely agree Tiny. People bought into this in 2004 and were told it would be completed in 2007. They have tied up considerable amounts of money all that time, and others who then bought on the resale market will have spent even more. Life savings will be involved.

We all have very severe doubts about Damac’s capability of completing any of its projects. Even if they do eventually start building and delivering finished properties, goodness knows when this will happen.

I also think that Damac will have looked at the phenomenal success of the Palm Jumeirah, realised just how valuable the real estate on Palm Jebel-Ali is likely to be soon, and decided to build something much bigger (i.e. much more lucrative) on its plot with starting prices no doubt in the 3,500 – 4,000 AED range.

This leaves it with a problem. “What are we going to do about the fact that investors in Palm Springs actually own that space now? Hmnnn. I know, let’s just get rid of them for a song.”

I should think Damac probably would want to rid itself of Palm Springs buyers completely because there are likely to be many people who bought 4 years ago for AED 800 a square foot who will not have deep enough pockets for whatever Damac may now want to propose for the Palm Jebel Ali.

Whatever the truth, it seems that the Damac ticking time bomb has gone off. The potential loss of confidence in the Emirates property market that could arise from this scandalous behaviour is huge. I have recently been thinking very seriously about buying an apartment in one of the proposed new developments on RAK’s Al Marjan Island. I don’t want to end up like these poor Palm Springs investors though. Upshoot, I’m not going to invest in Al Marjan at least until the build is well underway. But by then the potential profit margins may not be so attractive and I will probably not buy at all. These are uncertain times economically, and I’m getting to the point that I have very little confidence in real estate development companies in Dubai outside of those owned by the government itself.

Nakheel may deliver late, but at least, in the end, you pretty much get what you’re supposed to get (apart from the missing canal on PJ).

My heartfelt sympathies to all of you Palm Springs investors. These must be very worrying times for you. Fight this company Damac. Fight them and win. Cause a HUGE stink. Go to the press. Go to the Master Developer. Do whatever you have to do. The outcome of your fight may help determine whether or not decent, hard working, honest people will want to become involved in the Dubai property market at all in future. Dubai may be left entirely to the gangsters. What a tragedy that would be for a place that we all love.

Posted by Richard Head
March 2008

Salty,

Agree 100%, if Damac are allowed to get away with this it will damage the reputation of Dubai significantly. I really can’t see Nakheel and / or the government allowing this to happen, the buyers need to organise themselves and petition anyone and everyone to have this decision turned around, or at least have buyers awarded realistic compensation based on current market values of their imaginary apartments.

Hopefully the one good thing that will come out of this is that many investors will realise that Damac is a marketing machine gone beserk, with little substance behind it in terms of ability to actually make projects happen. Hard to believe that they can actually think they will get away with this and still persuade investors to hand over their hard-earned for anything they announce in the future. Oh but hang on, if I buy an apartment I can win a continent, so that’s all good

Posted by Turbo
March 2008
It might be worth writing to the Sheikh to highlight our plight. Below is a suggested draft to help you. The Sheikh can be contacted here:

http://www.sheikhmohammed.co.ae/vgn-…007064a8c0RCRD
——————————————————
Your Highness,

I invested in an development called Palm Spring in Jebel Ali back in 2003. This development was marketed and being developed by Damac. I have today learnt that Damac has cancelled the project and will not be offering compensation based on the current market value of my unit. I believe that Damac are acting extremely unethically and agiainst Dubai law, and are basically defrausing global investors who invested their money in good faith. I would request that your Highness instruct the appropriate government department to investigate the matter on our behalf and take necessary steps to restore our faith in the high standard Dubai has set in construction, quality, investor security and confidence. I’m sure you would not wish comapnies (especially big players like Damac) tarnishing the reputation of Dubai as the premier place in the world for investors to put their money in. Your early intervention will ensure that the matter does not get out of hand, and investors don’t set up websites highlighting their plight. Looking for an urgent response, kind regards.

Posted From Dubayyy
March 2008

Does anybody have a full text of the Damac letter?

posted from Turbo

Not sure if this has gone out, or is still a draft, but here is what I have seen from my contact:

10 March, 2008

Dear Sir/Madam,

Re: Palm Jebel Ali – Palm Springs – Unit

We write to advise you regarding your investment in the above project.

As you are aware from previous correspondence, the plot upon which the Palm Springs project was to be built (“the Plot”) was due to be handed over some time ago. You will also be aware of ongoing delay to the handover of the Plot by the Master Developer.

We have now been advised officially by the Master Developer that the Palm Jebel Ali Master Development has been re-designed and that the Plot will not be delivered. As a result of this official confirmation, we now regret to advise you that the Palm Springs project has been cancelled.

We understand that this is a serious and unfortunate situation but we trust that you will understand that it is one which is completely outside of our control. Attached please find a diagram which shows the plots purchased by Damac in the original masterplan and the re-allocated plots on the new masterplan. It is clear from this document that the re-allocated plots are significantly different in location.

In addition, the building forming the Palm Springs development (of which your Unit forms part) cannot be situated on the re-allocated plot which is nearest in distance to the Plot.

Your attention is drawn to the Force Majeure clause of the Sale and Purchase Agreement which specifically deals with this event. While under no contractual liability to do so, and in recognition of the disappointment which this notice will undoubtedly cause, we are willing to make the following offer to you:

Either:
1. Transfer to Unit(s) of your choice on another Damac development of your choice at a discounted price 15% below current market.
OR:
2. Repayment of monies paid by you with 6% interest calculated from the date of each installment payment.

While we understand the disappointment which will be caused by this notice, we trust that you will recognize that this matter is completely outside our control and that the above offer is made in good faith.

We would appreciate it if you could respond by 30 March 2008. Please confirm which option you would like to avail yourself by completing the attached form.
In the interim period should you require further assistance please do not hesitate to contact the Palm Springs customer service team on crm@damacgroup.com or Tel +9714-332 20255 and Fax +9714-332 0311, who will be happy to assist you.

Yours sincerely,

Damac Palm Springs Company Limited
Fareed Dowlatshahi
Senior Manager – Client Relations

Posted from househang
March 2008

As an investor in Palm Springs I am overwhelmed with support we are receiving from evryone who has an interest in Dubai projects. It is crystal clear that cancelation has nothing to do with redesign of PJA.Nakheel is delivering the plot to Damac anyway and if redesign is affecting the position of plot that is something between Damac and Nakheel to sort out. Damac could only cancel the project if Nakheel refrained from delivering the plot altogether which is not the case. Besides in clause 13 of the sales contract the purchasers have given their consents to any changes,variations,modifications, and
substitutions to plans of Palm Springs as well as PJA Master plan either by Damac or Nakheel.So changes to the PJA Master plan have been provided for in the contract.
This leaves us with one thing; CANCELATION DUE TO HIGH COST OF CONSTRUCTION!
I heard this from Damac themselves!

Posted by Karolsb

I have contacted Damac in Dubai but unable to answer any questions – just passing emails on – hope to get a bit more news by thursday but not holding my breath – we all need to email Damac and refuse there stupid offer.

The list of Palm Spring owners I have is increasing and I will collate as many owners as possible so we can all fight this one – the more the better. If you know anyone who has a Palm Springs apartment and has not contacted me please get them to PM me or email me at karlos.brown@btinternet.com

posted by househang
I have received a letter from Damac in London dated 14.03.2008. Here is the text:

We recently wrote to you rgarding your purchase in our Palm Springs developement.
In order to make process as smooth as possible, please be aware that any queries or concerns you may have relating to this matter can be dealt with by the UK CRM Team.
The UK CRM Team can be contacted on 0207 719 6028/29/30/31.
Alternatively by E mail at crmuk@damacgroup.com or by fax on 0207 719 6001
yours sincerely
Marilyn Millanaise
Client Relation Manager

posted by househang
I understand they have come up with a silly offer like this to test the water and have given us till 30.03 to respond hoping this short grace will make some investors to make a hasty decision as to accepting the offer rather than grouping against it. They did not tell us what would happen after 30/30because they are not that sure about the outcome of the first stage of the show. If you look carefully at the accompanying FORM you will clearly see that this form has nothing to do with the content of the cancelation offer.It is merley a REQUEST FORM meaning that you are asking for cancelation of your purchase and refund without being forced or even being asked to do so.As far as I understand by filling this FORM you are initiating and requesting the cancelation of your purchase. They are trying to get as many investors as possible to opt out at each stage,like they did when they offerd 10 percent to investors in 2006 to cancel their purchase and some accepted that.

Posted by nasim50

This is an absolute disgrace.

I hope you guys take these bastards to court and get your deserved profit margins.

It will give the Dubai property market a good kick in the balls, completely corrupt system at the moment.

And if you don’t win, one of you investors should go into Damac’s offices and shoot the hell out of all their sales consultants and senior people, scum bags all of them.

There will be more projects like this where high construction costs has caused the development not to be built (and not just Damac).

Just watch and see how many projects are put into the “Never Built” section here. There will be hundreds.

This is just the tip of the iceberg, things have to change big time and i think you guys will be the ones to change it in the dubai courts.

Get a good Lawyer
Get massive publicity

I wish you luck.

Posted by Hanna

Damac and there Government contacts

——————————————————————————–

Hi Guys

I have written a lot about Damac in the Ocean Heights blog over the years
and my feeling’s are like most of the bloggers,to my mind they are a shady
company from top to bottom that have big contacts in the Government.
I raised the alarm when I had inside info about them joining the RERA list and how all past past projects from 28.12.07 where excempt which was defeating the purpose this was set up for,the Government gave them an exemption why, because they have no funds and going from new release deposit’s to new release deposit’s.They have built two buildings over the last 4-5 years out of loads of new releases masterminded by the slick Scotsman Peter Riddoch.

I will be very surprised to see Ocean Heights completed after 4 years of delays,the cost to build this project must have went through the roof and we could be next to see a letter drop the door. I rue the day I took anything to do with Damac and there shoody business practices.

There Dubai CRM has moved on since last month coincidence or what. I don’t think so he has timed it right
because he didn’t want tainted when the S–T hit’s the fan

I have found that the law is geared towards the locals and can be very difficult and costly to win a case in Dubai escpecialy with Government backing.I have said many times the property law system is in its infancy and does tend to look corrupt.

I agree you have to do something the trouble is how to you get the list of all the people that bought in Palm Springs. Damac love that everyone is divided and will find it hard to join up and fight them.One way is to try and get a big UK newspaper add but that doesn’t capture all the other nationalities that have bought into the project there could be 10-20 different countries involved.

The contract looks simple and easy to define but they have been smart enough to cover most of there bases.I know because I have already been to a English Lawyer in Dubai and they were not to keen on giving assurances on winning a case in Dubai.

Forget about the newspapers in Dubai the Government control them all the last paper was taken over by them 2 years ago it was called the khaleejtimes and they were hot on Damac that hot the Goverment took them over,So what I am saying that are in cohoots with Damac at the highest level.

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Posted by Househang
Palm Springs

——————————————————————————–

Nakheel has distant themselves from controversy created by Damac for Palm Jebel Ali by strongly reaffirming today that not only the Palm Jebel Ali is well on track but they will be offering premium villas to investors which will be
ready in 2010.
This is very reassuring from the Master Developer.

posted by Turbo

It might be worthwhile for every investor to contact the following (list taken from http://damaconcovered.wordpress.com/write/ ):

Dubai Ministry of Finance & Industry
P.O.Box: 1565
Tel: 04 3939000
Fax: 04 3939738

Email: mofi@uae.gov.ae
Website: http://www.uae.gov.ae/mofi/

Minister of State for this department is H.E. Dr. Mohammed Khalfan bin Kharbash

Dubai Government’s Department of Tourism & Commerce Marketing
11th Floor, National Bank of Dubai Building
Baniyas Road
DeiraDubaiecomplaints@dubaitourism.ae or
info@dubaitourism.ae
website: http://www.dubaitourism.ae
UK & Ireland Office
First Floor
25 Pall Mall
London
SW1Y 5EATel : 0044 207 839 0580.
Fax : 0044 207 839 0582
e-mail: dtcm_uk@dubaitourism

Government of Dubai Real Estate Department
http://www.realestate-dubai.gov.ae/
P.O.Box 23073
Dubai
U.A.E.Tel. : 04-3986666
Fax : 04-3988111 Dubai Quality Group
P.O.Box: 9278
UAETel : (971-4) 343 1950
Fax : (971-4) 343 1970
E-mail : info@dqg.org
Website: http://www.dqg.org

Government of Dubai Land Department
Tel: 0097142222253
Fax: 0097142222251
Email: info@dubailand.gov.aewe
website: http://www.dubailand.gov.ae/

Posted by Hanna
This was from an article I read today the word is getting around slowly :

Dog Corneramac’s attempt to ‘buy-back’ its Palm Springs project (Palm Jebel Ali) , 5 years after its launch, will surely go down as one of DUBAI’s greatest disgraces. While Damac is not owned by the Dubai government, it presents itself around the world as ‘Dubai’. What has happened here is that Damac sold out the project 5 years ago, and cannot now build it without incurring a significant loss. It is attempting to buy out all of its customers and offering to pay them 6% per annum on the sum invested. There are other Developers who find themselves in the same position, but are not resorting to these DISGRACEFUL tactics. These people don’t deserve your money. A real case of ‘I will only play this game if it suits me’ and ‘expect me to go home if I am not winning’. Surely Damac are bigger than that ?

Sadly, no. And to make all you poor Damac clients feel even more irritated, Damac have either sold the land they were going to build Palm Springs on, at a very enormous profit or they will launch a new project – when things are ‘quieter’. Yes, this is how Damac are. Just not to be trusted. You are not valued by them. You are just an easy profit target, who can be abandoned when they have your money. You are just potential victims of their equally disgraceful pricing strategies. This is one incident that needs to hit the international newspapers. I am not sure Sheikh Mohammad knows what is going on here. And he would NOT be happy with the damage the decision will have the hard earned, and deserved, respectable reputation of Dubai. It is time Damac.

Posted by Tictaco

Not long after I bought the apartment, I asked Damac what the nationality breakdown was for purchasers at Palm Springs for my own interest and with a view to who the future market might be, and was concerned to be told that it was 98% British.
I have also since read articles that say the majority of buyers in Duabi are British. The reason that I was concerned was because I could see the future Dubai property market being interminably linked to the UK property market – much like Spain is today – hence all the property bubbles and corrections that happen in the UK are likely to be mirrored in Dubai – not good for an investor looking for a diverse portfolio!
I am 100% behind everything that has been said on here about Damac; it’s corrupt, despicable behviour and if you have the appetite for a fight then go for it. All I am saying is that for me, as a small time investor, it was a gamble that hasn’t paid off and I can’t afford to have my money tied up any longer. I also think that this is the beginning of the end for the Dubai market, and you only have to look at what’s happened in Leeds and other UK cities to see what over-supply does to a market. I think there’s money to be made in Dubai if you can ride it out for the next 10-15 yrs but I personally can’t wait that long.
This will be my last post on this forum, since I am obviously upseting people which was not the intention

Posted by DiamondGreezer
I am glad to hear that my fellow investors and our supporters are generally of the same opinion ie that we will fight it out. My inderstanding of Palm Springs when buying was approximately 50 to 60 % were british buyers. The UK is the most important market for Dubai and I dont think even Damac are going to be eventually allowed to get away with this robbery – as long as WE follow this through to the end. The courts are obviously just one option that we are going through. I also know of some journalists who will just love to put some attention on Damac and what they have done.

So what it comes down to is that do you think in the end with all the money involved for the developers in Dubai, are they going to risk one rogue developer to get away with thiss? And how are Damac going to feel if in every property show they do and when they launch any new projects we have people distributing leaflets just telling them how we got conned with Palm Springs?

Im quite convinced that with the investors group we have in place, and the sterling work they are putting in we are going to get something very positive. Anyone who wishes to run away luckily seems to be in a very small minority!

Posted by Hanna

Hi DiamondGeezer

I wish you all the luck with this case.

I have been writing sometime now about Damac and there shady practices, there were a lot of quite investors out that never gave me a reply,maybe they were under the impression that it can’t happen to me well suddenly they now know it can, and I am sure there will be many more projects binned,this is the reason that the ‘LAUGHABLE RERA’ gave them an exemption on the the escrow accounts,they must have had a look at there books and said my God you ‘asses’ are burst what have you done to the reputaion of Dubai if this info get’s out.Then comes the cover up within high places in GOVERNMENT AGAIN because this has been going on for a few years.

There is realy no excuse’s the investors including myself can give, all we had to do was Google Damac and see what sites it throw up then you would have got a feel for what this company is about.

Posted in Dubai | Comments Off on Another scandal Dubai Property market – Investors Jebel Ali Palm Dubai shocked – Damac Project Palm Springs cancelled

Dubai Government Turns Blind Eye

Posted by 7starsdubai on March 25, 2008


Original published 19 March 2008 at 12:07 am
http://damaconcovered.wordpress.com/category/lack-of-government-regulation/

If the Palm Springs project ‘cancellation’ by Damac is anything to go by, then Dubai’s reputation as a premier and safe place to invest in real estate is heading for a nose dive. And it seems that the Dubai government is happy to sit by and watch investors being ripped off. If appropriate action is not taken soon, then contracts written by Dubai businesses will not be worth the paper they are written on!

A group of distressed investors (284 to be precise) are suing Tameer Holdings over its failure to deliver apartments that were supposed to be handed over this year. Investors have rejected an offer of 25% on top of the money they have invested.

In spring 2004 investors signed contracts with Tameer Holdings to purchase apartments in Al Ameera Residential Tower development, Sharjah, expecting to move into their new homes in August 2008. The Al Ameera residential tower was to be the largest of its kind in Sharjah mirroring its counterpart in Dubai, the Princess Tower. But that was then.

In August 2005 the buyers received a letter stating that the Al Ameera Tower project had been delayed due to the lack of a licence, resulting from a delay in the implementation of a new real estate ownership law. It is mind boggling that Tameer were selling real estate with contracts that were relying on a yet un-enacted law! As far as we know the law in Sharjah hasn’t changed since the seventies. By any standards, Tameer have misled investors, and their actions need to be investigated by the Dubai government.

The picture of Dubai real estate that seems to be emerging is one where fraud is being overlooked by the government. It is simply not acceptable for Tameer to claim that Sharjah’s property ownership law stipulates that non-GCC nationals can own a 99-year leasehold but not freehold and therefore foreigners were legally not entitled to buy into Al Ameera. Why sell to foreigners when they knew very well this to be the case?

Tameer recently awarded the Arabian Construction Company with the honour to help materialise the Princess Tower by 2009. The tower, based in Dubai Marina, also announced in 2004, is expected to stand over 380 metres high, which would make it the world’s tallest residential tower.

This summer, Tameer made it clear that the law did not allow expatriate ownership and advised that it would cancel all contracts with non-GCC nationals. What happened with local prospective owners is not clear.

Posted in Dubai | Tagged: , , , | Comments Off on Dubai Government Turns Blind Eye

Rapists of french boy Alexandre Robert appeal against 15-year jail terms

Posted by 7starsdubai on March 25, 2008


Rapists of boy appeal against 15-year jail terms
By Bassam Za’za’, Senior Reporter
Published GulfNews: March 25, 2008, 00:34

Dubai: Two Emiratis serving 15-year jail terms for kidnapping and having forceful sex with a French boy, has pleaded not guilty and are seeking leniency before Dubai’s highest court.

In their appeal to the Dubai Court of Cassation, the two accused, I.M., 18, and A.K., 35, denied their charges and asked the court to grant them clemency. A.K.’s medical reports confirmed he has Aids and Hepatitis.

Their lawyer Saeed Al Ghailani, of Al Ghailani Advocates and Legal Consultants, handed the appeal to the Court of Cassation as the duo were not present at Monday’s hearing.

In the appeal sheet, Al Ghailani again requested the judges to refer the case to experts to verify whether it is medically possible for the victim not to contract Hepatitis or Aids after the victim alleged that “each of the 20-minute intercourses occurred without a condom”.

——————————————————————————–

——————————————————————————–

The Court of Appeal earlier confirmed the defendants’ 15-year jail sentence after Presiding Judge Eisa Al Sharif upheld the initial ruling.

The Public Prosecution charged I.M., A.K. and their compatriot, I.S., 17, with deceiving and kidnapping the 15-year-old French-Swiss boy, and his friend, 16. They were charged with forcefully undressing the boy threatening him with a knife before having sex with him, while his friend was kept outside the vehicle.

The boy’s medical reports confirmed that he had not contracted Aids or Hepatitis.

A Dubai Government spokesperson in this case, Dr Habib Al Mulla of Dr Habib Al Mulla and Co Advocates and Legal Consultants, told Gulf News earlier the initial and appeal sentences are in accordance with the practice in most countries in respect to similar crimes.

The Appeal Court also upheld the referral of the victim’s Dh15 million civil compensation claim to Dubai Civil Court.

Posted in Dubai | Tagged: , | Comments Off on Rapists of french boy Alexandre Robert appeal against 15-year jail terms

Dubai- Rechtsverfolgung in Zivil- und Handelssachen in den Vereinigten Arabischen Emiraten (VAE)

Posted by 7starsdubai on March 23, 2008


Merkblatt zur Rechtsverfolgung in Zivil- und Handelssachen in den Vereinigten Arabischen Emiraten (VAE)

A. rechtliche Grundlagen

Die VAE verfügen über ein konstitutionelles Rechtssystem. Die Verfassung nennt zwar die islamischen Rechtsgrundsätze (Shari’ah) als Hauptrechtsquelle, die Shari’ah selbst spielt in der praktischen Anwendung des Zivilrechts direkt jedoch – mit Ausnahme von familienrechtlichen Angelegenheiten – keine Rolle. Es wird allerdings darauf geachtet, dass neue Gesetze und die Auslegung bestehender Gesetze mit der Shari’ah vereinbar sind. Die relevanten Rechtsquellen in der Reihenfolge ihrer Bedeutung sind daher 1. Verfassung, 2. Bundes und Emiratsgesetzgebung, 3. Shari’ah, 4. Handelsbräuche und Praxis.
Die Verfassung hat die Gesetzgebungskompetenz in Bezug auf das Zivil- und Handelsrecht in Art. 121 dem Bund zugeteilt. Nach Art. 149, 151 können die Emiratsregierungen jedoch die notwendigen Regelungen treffen, solange und soweit deren Gegenstand nicht von einem Bundesgesetz geregelt wird. Die Emiratsregierungen sind gemäß Art. 125 auch für die Umsetzung der Bundesgesetze im Zivil- und Handelsrecht zuständig. Dementsprechend können deutliche Unterschiede bei der Rechtsverfolgung in den einzelnen Emiraten auftreten.
Die VAE sind in keinem einschlägigen multilateralem Abkommen als Mitglied vertreten. Es gibt auch kein bilaterales Abkommen mit Deutschland zum Thema, ferner keine Konsularverträge. Die Geltendmachung ausländischer Forderungen hängt somit einzig von der Rechtslage in den VAE ab.

B. Geltendmachung einer Forderung

I. außergerichtlich

Eine außergerichtliche Durchsetzung in den VAE ist schwierig.

Eine Aufenthaltsermittlung ist nicht so einfach wie in Deutschland. Es besteht in den VAE keine Meldepflicht.

Die Postzustellung erfolgt nach wie vor ausschließlich über Postfach. Über die örtlichen Handelskammern (Dubai Chamber of Commerce oder Abu Dhabi Chamber of Commerce) kann man unter Einschaltung eines Anwalts, der dort Mitglied ist, gegen Gebühr detaillierte Informationen (Firmenanschrift, Aktivität, lokale Partner etc.) über dort registrierte Unternehmen bekommen. Inkassobüros sind kaum verbreitet und eine Einschaltung dürfte eher wirkungslos bleiben. Ein Mahnverfahren oder vergleichbares Institut mit den Wirkungen von Mahn- und Vollstreckungsbescheid gibt es in den VAE nicht. Die Möglichkeiten der Botschaft bzw. des Generalkonsulats sind begrenzt. Die Botschaft kann regelmäßig nur auf ihre der Webseite zugefügten Liste örtlicher Anwaltskanzleien verweisen.

II. Rechtsweg (Einklagen von Forderungen)

1. Gesetzliche Grundlagen

Die Rechtsgrundlage für den Klageweg bietet die VAE-Zivilprozessordnung. Zu beachten ist, dass in den Emiraten Dubai sowie Ras al Kaimah eine eigene Gerichtsverfassung mit eigenem dreistufigen Gerichtsaufbau besteht. In den übrigen Emiraten gilt die Gerichtsverfassung der VAE mit Gerichten der ersten Instanz, Berufungsgerichten und dem Obersten Bundesgericht in Abu Dhabi als auf die Überprüfung von Rechtsfragen beschränktes Revisionsgericht.

2. sachliche und örtliche Zuständigkeit

In sachlicher Hinsicht sind regelmäßig die Gerichte erster Instanz zuständig. Eine Streitwert-abhänige Verschiebung der erstinstanzlichen Zuständigkeit auf ein höheres Gericht gibt es in den VAE nicht. Für die Berufung steht in jedem Emirat eine Berufungsgericht zur Verfügung. Gegen dessen Urteile sind Revisionen zum Obersten Bundesgericht in zulässig. Revisionen gegen Entscheidungen der Berufungsgerichte von Dubai und Ras al Kaimah sind dagegen beim jeweiligen Revisionsgericht in diesen Emiraten einzulegen. Örtlich zuständig ist das jeweilige Gericht, in dessen Bezirk die Beklagtenpartei ihren Wohnort/Sitz hat.

3. Verfahrensarten

Neben der normalen Leistungsklage sieht die VAE-Zivilprozessordnung auch Feststellungs- und Gestaltungsklagen vor.

4. Kostentragung, -risiko

Grundsätzlich hat die unterlegene Partei die Gerichtskosten sowie die Anwaltskosten zu tragen. Hiervon gibt es jedoch Ausnahmen: Kosten für die Übersetzung von Dokumenten in die arabische Sprache sind nicht erstattungsfähig. Hinsichtlich der Anwaltskosten wird in der Praxis nur die Erstattung einer symbolischen Anwaltsgebühr von 500 bis 1.000 DHS (1€ = 4,5 DHS) festgesetzt, die in keinem Verhältnis zu den tatsächlichen Gebühren steht.
Die Höhe des Anwaltshonorars ist Verhandlungssache. Es gibt keine Anwaltsgebührenordnung. In der Regel werden Gebühren prozentual nach der Höhe des Streitwerts berechnet. Auch die Gerichtskosten berechnen sich prozentual nach dem Streitwert. Hier gibt es jedoch Unterschiede in den einzelnen Emiraten. In Dubai etwa gilt eine Staffelung von 7,5% (bis zum Streitwert von 200.000DHS), 6,0% (für den Wert darüberhinaus bis 300.000 DHS), 5,0% (des 300.000DHS übersteigenden Betrages) für die erstinstanzlichen Gerichtskosten. In Ras Al Kaimah und Umm Al Quwain liegt der Prozentsatz einheitlich bei 10%, in Abu Dhabi und den übrigen Emiraten liegt er bei 4% (bis 5.000 DHS) bzw. 5% (für den darüberhinaus gehenden Betrag).

5. Anwaltszwang

Ein Anwaltszwang besteht grundsätzlich nicht. Wegen der sprachlichen Schwierigkeiten und bestehender Unwägbarkeiten der Rechtsprechung ist jedoch stets die Einschaltung eines Rechtsanwalts anzuraten. Grundsätzlich sind nur lokale Anwälte, welche die VAE-Staatsbürgerschaft besitzen vor den Gerichten zugelassen. In den VAE ansässige ausländische (deutsche) Kanzleien können daher nur beratend tätig werden. In streitigen Angelegenheiten schalten diese zumeist lokale Kanzleien ein. Es gibt auch einige deutsche Anwälte, die bei lokalen Kanzleien angestellt sind. Auf der Webseite der Botschaft findet sich eine umfassende Liste.

6. Prozesskostenhilfe

Eine Prozesskostenhilfe oder etwas ähnliches gibt es in den VAE nicht.

C. Anerkennung deutscher Gerichtsentscheidungen

Eine Durchsetzung von in Deutschland ergangenen Gerichtsurteilen oder anderen Vollstreckungstiteln ist in den VAE nur theoretisch möglich. Voraussetzung hierfür wäre neben der Zuständigkeit des deutschen Gerichts auch die sachliche Unzuständigkeit der Gerichte der VAE. In der Praxis scheitert die Rechtsanerkennung grundsätzlich an der zweiten Voraussetzung.

Bei zivilrechtlichen Ansprüchen gegen eine in den VAE ansässige einheimische oder ausländische, natürliche oder juristische Person ist nach der VAE-Zivilprozessordnung grundsätzlich die Zuständigkeit der VAE-Gerichte gegeben. Das ausländische (deutsche) Gericht verletzt folglich mit seinem Urteil deren konkurrierende Zuständigkeit. Jede anders lautende Gerichtsstandsvereinbarung ist unwirksam. Lokalen Unternehmen ist diese Rechtslage bekannt. Daher widersprechen sie bei Vertragsverhandlungen einer ausländischen Gerichtsstandsvereinbarung in der Regel nicht.

Ein Ausschluss der Zuständigkeit der VAE-Gerichte kann wirksam nur durch eine Schiedsgerichtsklausel erreicht werden. Dies hat jedoch nicht automatisch die Anerkennung des Schiedsgerichtsurteils zur Folge. Sicher anerkannt und vollstreckbar sind nur lokale Schiedssprüche. Bei ausländischen Schiedssprüchen vertreten viele VAE-Gerichte den Standpunkt, dass sie, sofern sie gegen eine einheimische natürliche oder juristische Person gerichtet sind, ebenso wie ein ausländisches Urteil zu behandeln sind, also wegen Verletzung der Zuständigkeit der VAE-Gerichte nicht vollstreckt werden können.
Grundsätzlich ist daher das Beschreiten des Rechtswegs in den VAE erforderlich und Klage einzureichen. Siehe oben unter B.

D. Haftungsausschluss

Alle Angaben dieses Merkblattes beruhen auf den Erkenntnissen und Erfahrungen der Botschaft zum Zeitpunkt der Abfassung des Merkblatts. Für die Vollständigkeit und Richtigkeit kann jedoch keine Gewähr übernommen werden.
Revisionen gegen Entscheidungen der Berufungsgerichte von Dubai und Ras al Kaimah sind dagegen beim jeweiligen Revisionsgericht in diesen Emiraten einzulegen.

Posted in Dubai | Tagged: | Comments Off on Dubai- Rechtsverfolgung in Zivil- und Handelssachen in den Vereinigten Arabischen Emiraten (VAE)

Popular Dubai-based blog “Secret Dubai Diary” blocked by TRA

Posted by 7starsdubai on March 21, 2008


Popular Dubai-based blog blocked by TRA
original article from 7days.ae Last Updated : Tuesday 18 Mar,
2008 – 10 comments

Secret Dubai Diary, one of the emirate’s most popular blogs, has been shut down in a move that has upset the many thousands of its readers. The UAE Telecommunications Regulatory Authority (TRA) has decided to block secretdubai.blogspot.com, calling it, “a web site for slander, defamation and vilification against Dubai”.

The same site was blocked in 2005 for similar reasons. However, since laws to block web sites were not concrete then, the site was eventually unblocked. This time, the TRA says the content was more offensive.

TRA spokesman Rasheed Joumblatt told 7DAYS: “Many people contacted the TRA complaining about the offensive language and the lies that had been spread on the site, ‘mutilating’ their beautiful city and twisting facts to dishonour the development and progress of the city…

“The TRA browsed the web site and found that it is a site for slander, defamation and vilification against the city of Dubai… and UAE individuals and personalities.”

However, one expat who regularly read the site said he was disappointed to see it had been blocked. He said: “It offered a nice irreverent look at life in the UAE. I do not believe it was slanderous or anti-Dubai. It was just people speaking their mind and giving their own, honest views on people living here. I hope the ban is lifted.”

Readers Comments

Posted by Jerica
What a shocker. Heaven forbid that anyone take personally responsibility on what they view on the internet.

Posted by mike_abudhabi
It’s a shame that the UAE TRA has blocked this site. I thought the UAE was open to freedom of speech and expression and news. What happened TRA?

Posted by dan perry
mike_abudhabi – really mike? you really thought that? come on, wake up buddy
Posted by FRZ
If Dubai is really an “open city”, it should consider those blogs as a “heads up”.

Posted by Proud Emarati
Funny! Why are you shocked, eh? When someone insults you and tries to destroy your image do you just keep quiet? Simple shows that certain groups of people like yourselves have no respect for this country. Now thats a shame!!

Posted by secretdubai
Thank you all for the support, and to 7Days for continuing to push for freer speech despite so many setbacks and so much undeserved hostility. It will take more than a proxy block to shut me up – and of course the rest of the world can still read what I have to say ;)

Posted by Proud Emarati
secretdubai: not as long as you live here!

Posted by umsara
secret dubai i pitty you really- it seems like you forgot how it was living in your “perfect country”” that know you have to put it on the place youre making a living from! and thinking that the rest of the world cares to what appears like a desperate women’s blabber is really a strech!!!! you people think your open to cultures but all you are is stereotyped discriminative blocked headed poeple who dont respect other cultures OR maybe your just bored who knows!

Posted by Jerica
Proud Emarati, I listen to Emaratis and other nationalities bash my country to no end. Of course the minute the offending party realizes that it is my home country, they shut up and back track. But in the same instance, I respect the right to other peoples opinions. EVERY ONE has something horrible said about their home countries. It does not mean you police their activities on the internet. As long as they are not planning some crime or making threats in any way, then it should be no big deal.

Posted by 7 days fan
I have to agree with Jerica. No country is perfect and sometimes the ideal of freedom of speech can initiative positive change and make people think about issues. Admittedly I’ve never seen the Secret Dubai site, so I am not too sure about the content, but provided it’s not inciting racial hatred or anything dire like that, what’s the problem. I love my home country, but I am the first to admit it’s not perfect and it is often criticism of the deficiencies that leads to them being addressed. Same goes for Dubai. I have a lot of respect for the place and the people here, but by the same token, it is not perfect and people should have the right to discuss this freely and lobby for change.

Posted in Dubai | Tagged: , | 1 Comment »

Dubai a real safe Tourist Destination ? The Dangers of Dubai

Posted by 7starsdubai on March 20, 2008


Posted in Dubai | Tagged: | Comments Off on Dubai a real safe Tourist Destination ? The Dangers of Dubai

ACI Dubai – Frustrated Investors – Star Tower

Posted by 7starsdubai on March 19, 2008


original published skyscrapercity.com
http://www.skyscrapercity.com/showthread.php?t=179383&page=5

comment by Bazz

hey guys, i have also invested here since 2004, to date i have heard ABSOLUTELY nothing and am very thankful of you guys here that has provided me with more information then junior gas themselves. Each time i have phoned them they have no answer and no certainty of when the project will commence and complete.i am very anxious and scared now as this project was heading nowhere. I dont know if i should take my money back losing all the bankers fees for money transfer each month or if i should stick this one out hoping it will be worth my while? any ideas?The best i was told was that i can be re-imbursed all monies paid to date if i wish.many thanks.

Comment:

dubai star at gulf and dubai property exhibition

Been to the above property exhibition in London on the 21st and Dubai Star had a stand.

Just vaugely remembered reading this thread – so thought ask them some questions.

They informed the developer is german co called ACI, they dont know whether development has started and gives completion date of september 2008.

The consultants seemed to have been hired just for the day and genuinly did not seem to know anything else about the development.

I would personally stay well away from this project

Comment

hi again, thats exactly where i bought from in april 2004, must av seen you there lol, I have been in touch with ACI and my sister went in person last year when she went for a holiday, they seem professional and work seems to be underway. But lack of communication from them (i.e. updates etc) does not help and for other buyers there has not been any update to the situation, i had to chase junior gas and then found out from here that ACI has taken over, no one from junior gas told me at all…..Yes they speak perfect english at junior gas and personally i am fed up of chasing people to get an answer, i still dont know what is happening to my apartment as its on the 23rd floor, which ACI’s impressive brochure states is a commercial office floor not residential???you stay in touch too, finally we are beginning to shed some light on this whole issue thanks to this forum….

Hi Bazz

I called ACI last week and spoke to Anita. Robin Lohmann (Managing Director) was in Germany, she told me to email her all the details and she will get in touch with me.

So far nothing no reply.

Last year I went to Dubai and appointed Emirates Advocate to handle our case they sent legal notice and thats it. According to them whats happened is fraud and Junior Gas should not have sold the land without informing us.

Well thats all they have done and now they are just sitting on the case and no response. I think we all should get together and go to media. Junior Gas have made 30 million AED profit.

According to Ahmed no one will spend £5ooo to sue him in Kuwait.

Mind you he does have few projects going in Kuwait and they are well known in Kuwait. BBC are looking for real story to investigate and we will not be charged a single penny and they will expose Junior Gas and question Nakheel why has this happened, I have already spoken to a journalist.

Or we get an international solicitor in UK who will handle our case. Like you said You are tired of chasing, so are we. Its not just us they are 30 or 35 people like us.Its about time to take some action.

Any other suggestions are welcome.
________________

Comment

Hi bazz

No havent heard from ACI and every time I call they say they will get back to me but nothing.

Junior Gas are ready to pay back the money on condition that we sign that we have no legal liability with them and with ACI.

If you want you can hold till the end and fight with them because legally you own the appartment and they have to pay you or buy you out. We have invested elsewere and need the money thats why we are asking for money back.

What happened when you got in touch with ACI what did you think about them. I couldnt get time off so we will be flying to Dubai after Easters. Will let you know what happens.

I will go and see ACI in person before we collect the money from Junior Gas.

Will keep you informed.

___________________________

hey shilu,y

es we are still paying junior gas which i found odd but was instructed by ACI to do so.i have paid just over 75% now and still have not heard a peep from anyone!!

i will plan to go soon (maybe july) and see what they have to say for themselves… cant take much more of this thats for sure.

i have looked at the project on various sites and it shows completion date as 2008.

What junior gas and ACI lack is good communication.

if we were informed time to time of what is happening then id feel more secure about my investment.please do stay in touch and keep us informed on here. when are you going and when will you be back?hope it all goes well for you. im glad atleast two of us are trying to sort things out here. everyone has disappeared lol.

bazz780

___________________________
Hi,
i just called ACI and was advised that they no longer reside there.After calling a mobile number in dubai i was advsied that they have now moved offices and are located in Jumeirah.

When i questioned why i was not notified i was told that emails were sent out to advise of this??

Any how: there has been no progress in construction and i have just been told that the tower is still in the ‘piling’ stage… completion is expected in 2008 now and as far as the payment to junior gas is concerned… the secretary will find out for me what i should do about this….

SHILU: i hope when you do go you will get some solid answers out of these people. If you can ask a question for me “what happens to those who purchased a flat on the floors up-to floor 28 as they are now commercial floors…… do they get moved up or what?”Think i will have to go down to dubai as well… just to clear things up!
____________________________________________________________

Dear All Dubai Star property owners

My name is Hicham Nicolas and I’m one of many who bought an appartment in Dubai Star.

They claimed it will be done in April2008, bla bla bla…

To cut the story short, here are the most recent updates:1-ACI did finish the shoring (digging) only last month.2-Nothing happened since than.

The site is empty no machines, no labour no nothing. I visited the site twice (on 10 and 15 April 2007)as I live nearby.3-Based on my telephone calls they claim that they are waiting for the “piling” phase license approval from Nakheel DCCI.4-I heard that the size of the (sq ft) sold to us is not a nett area but a global area(meaning they will deduct a percentage for the lift and the stairs and the lobby etc etc…).

ACI denied that, but still they refuse to put it in writing.5-Last month they said the sales contracts will be ready in May 2007.

This month they said the date has changed and we do not have a deadline.They claim again that Nakheel DCCI have the contracts and haven’t release them yet.6-ACI split from Lakepoint (real estate agency) and they shifted their location to a villa in Jumeira without telling us.

My contact with ACI is their Sales Manager Miss Fereshti.

Who apparently is a mere interface between us and them. Whenever they want they tell her things that they can refute later on.

Based on all the above, we need a plan of action. I alone cannot do much.
We need the power of a group.
I have many ideas and we can get in contact with a lawyer if we have too. We need to force them to start the works. Instead of using our money for something esle (they have other porjects on paper)…I know 1 more owner.

That will make 2 of us until now. Join us. Please contact me on my email hichamnicolas@yahoo.com .

Sincerely YoursHicham Nicolas

_________________________________________
Hi bazz

All this time a year i have been trying to get all the dubai star buyers together and sort things out.

Because i believe that whats happened is not right.

We went to Dubai last April, got in touch with the British Embassy. The embassy said they cant do anything but give us a least of lawyers. And we should take it from there.

We went to Emirates Advocates, they have a very good reputation and are well known in Dubai and GCC countries.Guess what after spending £2000 nothing came off it.

They did inform us that we have a very good case of fraud, and their name held a lot of weight and everything will be sorted out in few months.
The solicitor Rajesh Babu wouldnt reply to any of my emails, would not take my calls and kept me hanging.

I wrote a stong letter on their website and told the bosses what was happening,they appointed a another lawyer Mr Ibrahim and then after few months another Miss Doaa.

In a year I had 3 diffrent lawyers and let me tell you this they all lied.

Six months back the lawyer said Junior Gas are refusing to pay the refunds and fed me so many lies that I couldnt believe it.

I lied to book an appointment with ACI, otherwise they would not see me.

Their legal adviser Mr Rashid Saab is a very shrewd person, he is from Lebanon.

He mentioned the same thing a few times that he will not promise about the completion date its better to collect the refund and invest somewhere else.
Thtats what they want.

Go to Dubai in June and see for yourself. Meet up with both the teams.You will be going to and fro from both of them.

Neither of the party will make any commitment or give you a straight answer.

But if you all gang up and meet them together you will get somewhere.

______________________________________________________

thanks shilu,from what you are saying i think i will take my money back also. i invested 3 years ago to help me buy a house in this country, i now have wasted 3 years of my time in a project that is lifeless.i think it would be more wise to take money and buy our family home here in london, in 3 years time the value of the house will rise as much as the value of my apartment in dubai…. in terms of profit.i hate it when communication is not consistent, i have suffered with junior gas and now aci are proving to be the same.a friend of mine bought in dubai marina and received constant updates and super fast responses to all his communications. i dont think il get this from aci to be honest.i dont really have the money to complete payments in one go and dont think i can go out of my way to scrape the money together for something so uncertain.one question shilu:i have paid 30k so far, converting that back to pounds from dirhams, i will only get back 26k losing 6k.have you not also had this problem? currently the exchange rate is 7.9 dirhams to make a pound.I hear your point and remember how hard you have tried to gather all buyers to make a stand! but apart from me and you… no one else seems bothered.a company called best in dubai (www.bestindubai.co.uk) have apartments being built in international media production zone (IMPZ) with studios starting at 54K off plan. they seem very professional and deal with the developer DAMAC. even the website has photos of regular updates to all projects currently underway, as well as online payment facility that will save bundles on bank charges as well!!!!but i think iv had enough for now, as this new project will not complete until 2010 by which time london prices will have hit the sky (with the olympics getting closer)thanks alot shilu, im glad you have made a choice and hope it will prove to be the right choice overall… i may have to follow your footsteps.
______________________________________


Posted in ACI Immobilienfonds, Dubai | Tagged: , | Comments Off on ACI Dubai – Frustrated Investors – Star Tower

Don`fall for the charm of Dubai Property

Posted by 7starsdubai on March 14, 2008


original : http://www.moneyweek.com

I wouldn’t put a penny of my money into Dubai, says Stuart Law of investment property firm Assetz in The Independent. “It’s a city based on consumerism. I’m not sure that guarantees its role as a long-term holiday home location. I wouldn’t buy there.” Several property developers and agents in the region have now begun echoing Law’s opinion. Dubai’s sustainability as a resort isn’t the only worry though, as there is also concern that the supply of property in Dubai has begun to outstrip demand.

Dubai property: buying could be easier than selling
“Thirty years ago there was nothing in Dubai but a creek, a sheikh’s palace and a dodgy reputation as the smuggling capital of the Arabian Gulf,” says The Economist. Since then it has been billing itself as the tourism and business hub of the Gulf region and people have flocked there with their money. Property prices have soared in tandem with the frenzy, but it now seems that it has reached a peak. Since 2003 alone more than 12,000 homes have been built, says Graham Norwood in The Independent, meaning “that anyone wishing to sell a home has competition from new properties”.

According to a spokesperson for Standard Chartered Bank, also in The Independent, “development of the Palms, Dubai Marina, Business Bay and Arabian Ranches, to name just a few [schemes], is going to boost supply in the coming five years in dramatic fashion. To us, this suggests that a decline in property prices is just a matter of time.”

Kevin Fleury, a mortgage broker specialising in overseas loans at Conti Financial Services, agrees. He tells The Times that when investing in property abroad, an exit strategy is needed. With Dubai, though, there isn’t one. “There is a severe danger that there will be an oversupply because so much is being built. This will suppress rents and capital growth, and I think many people will find it difficult to sell.”

Even when it comes to selling a home, the vendor will face additional problems. Dubai may well have just granted the right to own freehold properties to expatriates, but “there is no conveyancing system for property purchases”, says Gill Kerby in The Sunday Times. “The developers and agents offer to undertake all contract exchanges on your behalf (not a good idea).”

Dubai property: is the infrastructure all it’s cracked up to be?
And an oversupply of houses isn’t the only problem facing investors. The Dubai tourism board may well issue sprightly images of superhighways traversing the emirate city’s centre, but as the construction of one of it’s latest property developments demonstrates, infrastructural issues do not seem to have been factored in. “Palm Jumeirah is a peninsula, with one way in and out,” says William Kistler, European President of the Urban Land Institute. He tells The Daily Telegraph that “the question of how the road provision is going to connect into the transit infrastructure is something that we have got a not very satisfactory answer to”.

Palm Jumeirah came to prominence back in 2002, when David Beckham and several other members of the England football team bought properties on the palm-shaped island on their way to the 2002 World Cup in Japan. The subsequent hype helped it to sell out, but its developers have remained tight lipped on allegations that the players received large discounts to buy there. 25% of the properties went to British buyers.

The only road from the resort (down the palm’s trunk) leads directly to Dubai’s main highway, the Sheikh Zayed Road, where traffic “moves as slowly as water down a blocked drain”, says Kistler. People were wondering whether the infrastructure was sustainable even before they built the Palm Jumeirah. Although two new road projects are planned for the area, so too are 100 residential towers, accommodating up to 40,000 people.

The reason for the extra towers seems to be that Nakheel, the property development company owned by the Dubai government, grossly underestimated the number of properties that would be built on the palm-shaped idyll, says The Daily Telegraph. The result makes scary reading. According to a former construction worker for the company, the current plan has 150,000 people living there, “but there are no medical facilities and no evacuation plan in place”.

Dubai property: a bubble waiting to burst?
There is also another reason to be cautious when it comes to Dubai property – the boom in prices is a bubble waiting to burst, fed principally by speculative purchases.

Sure, Dubai enjoys year-round sunshine and indoor skiing, but what promoters of the tiny emirate “don’t emphasise is that Dubai will be the world’s biggest construction site and traffic jam until at least 2010”, says Kerby.

Late in 2004, Middle East Business media reported that 85% of off-plan flats and 50% of off-plan villas were bought by speculators, most of whom sell before completion. This means that most homes are secured by “10% deposits and then traded like shares”, says Graham Norwood in The Observer. In other words, the majority of those buying have no intention of living there.

Some Dubai builders already recognise the “fragility of this speculative frenzy”, says Norwood, but may be too late in looking for larger deposits. “A global economic downturn or a local housing crash, or both, could turn this investment-led boom into a major slump.”

Posted in Dubai | Comments Off on Don`fall for the charm of Dubai Property

The issue Nakheel Damac Discovery Gardens

Posted by 7starsdubai on March 10, 2008


Monday , May 7 , 2007

Nakheel has cleared the air by confirming that they are the master developers of Discovery Gardens, putting an end to the confusion about the apartments in a development, Terra Del Sol, which had been marketed by Damac Properties.The investors were basically confused about whether they had bought the apartment from Nakheel or Damac.A representative of Nakheel mentioned that they are the master developer of Discovery Gardens, and are responsible for construction of the entire project, comprising 291 buildings with 26,000 odd multi-sized units in a family-oriented community.Discovery Gardens, launched during July 2004, created a high demand, and the construction of the buildings began the same year. The statement from Nakheel mentions that most of these buildings are sold to developers, and hence the cost of apartments in these buildings is determined by the individual owner.The Damac CEO, Peter Riddoch, has stated that they had purchased two buildings from Nakheel, and re-sold them to third parties during 2005. The buildings in Terra Del Sol were very similar to rest of the major development, and Damac had placed its identity tag on the two buildings for marketing purposes. The investors were also clearly notified about all details, so that they do not feel cheated.Meanwhile, a few British investors who had booked flats during 2004-05 with Damac, claimed that while booking, they were told Damac Properties were the ones to build Terra Del Sol, keeping Nakheel as the master developer during the entire Discovery Gardens project.A resident is said to have stated that Damac had earlier mentioned that they are the ones undertaking construction of the properties, and there was no mention of Nakheel being made. He added that he was only notified about Nakheel being the developer during the year 2006, when Damac had asked the family to sign a Power of Attorney, authorizing them to buy properties from Nakheel on their behalf.A property developer, Sarfraz Mirza, also mentioned the same issue, and agrees that Nakheel was brought to the picture only last year at the time of signing the documents.

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Stranded in the Desert of Dubai – Investors Dubai Marina

Posted by 7starsdubai on March 10, 2008


original published

Timesonline

http://property.timesonline.co.uk/tol/life_and_style/property/article720700.ece

March 2007

British investors are chasing a Dubai developer who has £2m of their money, reports John Arlidge. Britons who bought property in a flagship development in Dubai face losing more than £2m in deposits after the developer abandoned the scheme and fled the country. Some 40 Britons have paid deposits on “off-plan flats” in the Light House(pictured), a 15-storey block planned for Dubai Marina, one of the most popular developments in the emirate.Emad Ayoub, 52, who has dual British and Egyptian nationality, had sold the project on the basis that it would have been ready by last month. So far, however, only the foundations of the 94-flat block have been completed. Ayoub left Dubai last month, and work has stopped.

Buyers contacted by The Sunday Times said they did not know what had happened to the deposit money they had handed over and whether their properties would ever be built.

“We could lose our money, our flat, our future — everything,” says Roger Blakeley, 46, from Lancashire, who has put down £90,000. “We chose Dubai because Sheikh Mohammed (the emirate’s ruler) assured western investors their money would be safe. It’s time for Dubai to show that foreign buyers have rights and are protected when things go wrong.”

The “Light House Affair”, as it is known in Dubai, is the first such scandal to hit a country that has undergone a multi-billion-pound building boom since first allowing foreign investors to buy places there four years ago.

Problems have already emerged. Several projects are behind schedule and some buyers claim that, in the race to build tower blocks and villas, standards of workmanship are slipping. Prices, which have been rising by more than 10% a year, appear to be levelling off, amid concerns about oversupply, especially of flats.

Ayoub began marketing the block two years ago with a sales brochure promising prospective buyers that it would “add comfort, security and joy to your life”. About 90 local and overseas investors bought flats “off-plan” after seeing press advertisements. Nearly half were British.

Buyers visited the sales office in central Dubai, handed over downpayments of an average £50,000 per flat, sat back and waited to see their new homes soaring above the stylish marina. And waited. And waited.

In spring 2005, one year into construction, buyers living in Dubai reported the development was behind schedule. When contacted by investors, Ayoub conceded progress was slow and blamed unforeseen technical issues, but insisted the project was on course for completion last month.

By last summer, the foundations of the block were underway, but progress was still sluggish. Ayoub continued to assure buyers the building would be completed on time. By January, the foundations were largely completed, but it was clear that the block would not be completed by the April deadline. Then, two months ago, all work abruptly stopped.

The first most investors knew about the stoppage was when newspapers in Dubai reported that labourers had refused to turn up for work after not being paid. To add to their concerns, Lieutenant-Colonel Rashid Al Jumeiri, a senior official from Dubai’s Permanent Committee of Labour Affairs, was quoted by a Dubai newspaper as saying that Ayoub had fled after emptying his bank accounts.

When telephone calls to Ayoub’s office in central Dubai went unanswered, buyers contacted the police. Officers could not find the developer, and his office was sealed. A notice on the door of the company’s office announced that it was closed “by order of Dubai Court in favour of the Case No 361”.

Since March, the gates of the Light House site have been padlocked. The only person there during a recent visit was Abdul Wadoob, a security guard sitting in the 40C heat in a wooden hut with no water or air conditioning. Wadoob, who is employed by a private contractor, confirmed that work on the site had stopped two months ago, but didn’t know why.

The disgruntled buyers have hired Shahran Safai, an emirate lawyer, to put pressure on the Dubai authorities to sort out the mess. Buyers are also considering a criminal action against Ayoub for fraud.

Such legal manoeuvrings are the first test of Dubai’s investor-protection regulations and the outcome is being watched closely by people planning to invest in the United Arab Emirates. “There is no precedent,” says Safai. “No investors have found themselves in this situation before.”

If they do not achieve satisfaction in the courts, the group plans to approach Emaar, Dubai’s biggest property firm, and ask it to take over the site and finish the project. Emaar was “master developer” of Dubai Marina but had no direct responsibility for the Light House.Emaar last week denied any liability for the halt to the work at the site, but confirmed the company had held “meetings with the legal representatives of third-party investors … in the (Light House) project”.

The Sunday Times last week traced Ayoub to Earls Barton, a village in Northamptonshire. Ayoub admitted he had fled Dubai, but said he had done so because he feared he would be imprisoned after getting into financial difficulties.

The developer denied that he had deliberately emptied his bank accounts, but said he ran out of cash and stopped paying his workers in March after a local bank refused him further credit facilities. The £5m of investors’ money had been swallowed up by the unforeseen construction snags and delays, he said, claiming he had tried to complete work with £1m of his own money.

Ayoub said he sympathised with buyers and was still trying to negotiate with Dubai-based subcontractors to restart building; the remaining £5m money due from investors, together with the proceeds of selling commercial premises in the building, would be enough to finish construction.

He also vigorously denied claims that he had engaged in fraud. “Not one single dirham (the local currency) invested in the Light House has left my accounts in Dubai. It was all invested in the project,” he said.

Blakeley was not impressed. “Now that we know where Mr Ayoub is, we will take steps to pursue him in the British courts,” he said.

Source: Times Online

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Millions lost in Dubai Property Scandal – Light House Tower Dubai Marina

Posted by 7starsdubai on March 10, 2008


7Days

24 May 2006
The abandonment of a 15-story project at Dubai Marina has led to investor fears over the safety of money ploughed into the Dubai property market. Construction has completely halted at the Light House project, leaving over 90 investors up to four million dollars out of pocket. Meanwhile, the scandal threatens to damage the reputation of Dubai as a destination for investment.

“We chose Dubai because we were assured that investors’ money would be safe,” Roger Blakeley, one of the investors, told UK newspaper, The Times. “It’s time for Dubai to show that foreign buyers have rights and are protected when things go wrong,” he said.

The affected investors in the UK are highlighting the complex legal system for buyers in the UAE. The fact that the developer, Emad Ayoub, has successfully dumped Dubai and the project is also worrying for foreign investors coming to the UAE. Ayoub has a dual nationality, he is a citizen of both Britain and Egypt. He originally sold the building from plans.

Investors have already paid up to dhs400,000 each in deposits to the developer for luxury apartments in the building. The site of the planned project has been closed by the Dubai Court. Ayoub was tracked down by The Times newspaper in the UK and found to be living in Northhampshire, England. While he admitted to fleeing from Dubai, he said that it was because he feared imprisonment over his financial difficulties.

The developer denied deliberately taking investors’ money but said that technical hitches and unforeseen construction work had delayed work on the project. He said he ran out of cash and stopped paying his workers in March after a bank in Dubai refused to give him further credit. Ayoub claims that all of the investors’ money has been tied up in the construction. “Not one single dirham invested in the Light House has left my accounts in Dubai. It was all invested in the project,” he said.

He also said he sympathised with buyers and was working to negotiate with sub-contracters to restart the building. Emaar is the master developer of Dubai Marina but has no direct responsibility for the Light House project. The group of investors have said they may approach Emaar and ask it to take over the project and finish it if they are unsatisfied with the courts.

We have had meetings with the legal representatives of the third party investors and will continue to cooperate to review what is in the interests of the concerned parties,” an Emaar spokesperson told 7DAYS yesterday. It is the first test of Dubai’s investor-protection laws.The group are also considering taking a criminal action against Ayoub for fraud.

Whatever happens, other investors considering entering the UAE market are closely watching the legal mess. While the Light House buyers have found themselves in the dark

© 7Days 2006

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RERA – Official Dubai Real Estate Community

Posted by 7starsdubai on March 10, 2008


Posted in Dubai, Rera Dubai | Tagged: , | Comments Off on RERA – Official Dubai Real Estate Community

 
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