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    • Criminal Complaint filed against Al Fajer Properties Sheikh Maktoum
      Criminal Complaint filed in Germany against Sheikh Maktoum Hasher Maktoum Juma Al Maktoum CEO of Dubai Developer Al Fajer Properties The Dubai Sheikh who mislead and extort a German Couple  Germany – Dubai 2011 A German elderly couple , today 80 + 50 years old who have been Dubai Tourists since a decade, bought in 2005 an apartment at Nakheel´s Dubai Residen […]
    • UAE: Human Rights Blogger, Sorbonne Lecturer Charged With ‘Humiliating' Officials
      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 […]
    • Nakheel Dubai Sunland Case
      June 5, 2011After 21 hearings, Chris O'Donnell, the Australian chief executive of Dubai's major developer, Nakheel, came to the defence of his former colleagues Matthew Joyce and Marcus Lee. Mr Joyce and Mr Lee are accused of profiting from the sale of land that had been earmarked for a colossal high-rise development, which was to include the futur […]
    • Dubai Nakheel CEO decided to leave the company
      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 9th, 2009

According to reports, Dubai Inc may soon have a PR agency to help change its image in the media. Will it work?

Posted by 7starsdubai on March 9, 2009


Kippreport  Dubai , March 9 , 2009

It seems as though Dubai finally understands the need to be open, and to provide answers to legitimate questions. A senior delegation of Dubai’s financial and economic leaders went hunting for public relations firms in London last week, reports The National. They apparently wanted to find out the cause behind all the negative publicity that Dubai is getting in the international media, and what they can do to improve its image.

The paper also reported that soon Dubai Inc will select one firm from a shortlist of candidates to help the emirate spread the good news.

Good PR is something that Dubai needs at the moment; especially since the world’s press is reporting – sardonically – about Dubai’s hardships, and how the emirate’s party has ended. Lack of transparency in the city spawned numerous rumors that the government has not confirmed or denied, including reports of an increasing number of cars being left at the airport and the imminent downfall of the once ‘glamorous’ city.

Fixing Dubai’s PR woes, however, depends on the brief given to the PR agency, says Alexander McNabb, the group account director of Spot On Public Relations.

“Public relations is very much like being a doctor. If you come to me and say I’m not sick, then I can do nothing for you. If you come to me and tell me what is wrong with you, then I can help to work with you and diagnose what is wrong, and then work to put it right,” he says.

“If you come to me and say I have got the greatest company in the world, and I want you to make everyone believe that, my question is why doesn’t everyone believe it today?” he asks, adding that it is essential to test that greatness. “When we do that, we find that there’s stuff you need to fix in the company, its processes, in the way that the company communicates, what its assets truly are; it has to test those assumptions before you go and do the job of PR.”

If the brief being given to the agency is ‘work with us to work on this process’, then that’s a wonderful thing. But if the brief being given to the agency is ‘we want a positive media coverage for Dubai’, then I think it cannot work,” he says.

The first challenge PR agencies face is separating fact from fiction; to publicize an honest and accurate account of how Dubai has been hit by the financial crisis (because it has been hit by the financial crisis), before it begins to extol the ‘greatness’ of the city. They will need to give numbers and names, and then talk about how they will get back to normal, and what they’re doing to achieve that goal.

The last thing Dubai needs is more public proclamations on how rosy everything is in Dubai, which include statements from officials, such as Mohamed Ali Alabbar, the head of Emaar properties: “Our feet are firmly planted on the ground, and our eyes remain fixed on new horizons, on a future that remains bright.” The statement was made in November 2008, weeks before companies in Dubai went on a firing spree.

But McNabb says that while transparency is essential, it may not happen as quickly as one would want.

Bringing about a change in the perspective of Dubai Inc is going to take time, he says, “Because you want to build something enduring. It’s not about putting a sticky plaster over the negative media, but about building something that works […] across the long term, and that gives you long term value.”

“[…] That means investing in the process. Not just financially, but with resources, with intellectual capacity, with the guidance of people who are able to take decisions from the very top […] if it’s going to work.”


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Dubai – Industrial City official on trial for Dh17m fraud

Posted by 7starsdubai on March 9, 2009


March 09, 2009, 17:29     xpress4me

A senior executive at Dubai Industrial City (DIC) was arraigned on Monday morning on charges of fraud and abuse of public office at the Dubai Criminal Courts.

DIC’s sales manager, Abdel Razak A., 32, is the latest high-level official charged with fraud in the string of probe into white-collar crime by Dubai Public Prosecution in its fraud inquiry.

Abdel Razak is charged with embezzling Dh16.9 million in illegal commissions he allegedly took from companies renting and buying land at the DIC, near Jebel Ali Airport covering 560 million sq ft.

In his testimony to prosecutors, DIC Vice President Rashid Al Ansary said that between June 2006 and July 2007, Abdel Razak embezzled more than Dh30 million.

He added that Abdel Razak received a monthly salary of Dh23,250 in addition to commissions that were granted if sales and rental goals were reached.

Abdel Razak was discovered to have been allegedly informing prospective clients that plots were booked by imaginary customers.

He then informed the clients that a deposit has to be repaid in order to buy out the land from the previous owner and clients would send the money into the account of a mobile phones trading company named Online LLC, pocketing the money for him self.

According to Al Ansary’s statement to prosecutors, Abdel Razak was discovered to have received Dh800, 000 from Utmost Trading in 2007.

An internal investigation then revealed that Abdel Razak was monopolising the plot sales to individuals who paid him large amounts as commissions.

“We contacted directors of Utmost and met with them in our head office, they explained to us all the details of the transaction and when we questioned Abdel Razak, he confessed and paid back the full amount,” Al Ansary told prosecutors.

Abdel Razak was then suspended from work, and his personal computer was seized. Emails and documents were discovered revealing more illegal commissions.

Abdel Razak testified to prosecutors that he did receive Dh800,000 as commission and returned it at the request of his company but also said that this was the commonplace in the market.

“Every one is taking advantage of their company positions and making money but only if that does not affect the company negatively,” the suspect told prosecutors.

He also testified to prosecutors that he informed his clients that Online LLC was his company and he represented it while working at Dubai Industrial City, bringing in high-level clients who make deals worth Dh200 million.

He also stated that he blocked out prime real estate for his best clients and sold it to them, earning the company high profits.

Abdel Razak is due to appear in court again Thursday next week for more witness testimonies.

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Seven corruptors who reportedly swindled Dh1.8 billion ($501 million) from Dubai Islamic Bank (DIB), being referred to court

Posted by 7starsdubai on March 9, 2009


GulfNews    March 09, 2009, 20:00

The authorities campaign against corruption continues, with the case of seven corruptors who reportedly swindled Dh1.8 billion ($501 million) from Dubai Islamic Bank (DIB), being referred to court, Gulf News learnt on Monday.

This is biggest (in terms of amount of financial irregularities) and third corruption case that the Public Prosecution has referred to the Dubai Court of First Instance.

Gulf News earlier reported that the corruption cases involving Mizin and Sama Dubai had been referred to court.

According to the arraignment sheet, the Public Prosecution referred five businessmen and two former senior executives of DIB to court where they will be prosecuted facing different charges of swindling, forgery and bribery.

The Public Prosecution charged three businessmen, 36-year-old Turkish (who’s at large) A.I., 48-year-old British C.M. and his 54-year-old compatriot R.L. with defrauding $501 million from DIB.

According to the arraignment sheet, the Public Prosecution referred five businessmen and two former senior executives of DIB to court where they will be prosecuted facing different charges of swindling, forgery and bribery.

Posted in Dubai | Tagged: , | Comments Off on Seven corruptors who reportedly swindled Dh1.8 billion ($501 million) from Dubai Islamic Bank (DIB), being referred to court

Dubai Tourist Visa confusion: Don’t trust that stamp in your passport

Posted by 7starsdubai on March 9, 2009


The National

March 09. 2009 12:36AM UAE / March 8. 2009 8:36PM GMT

citytalk-bannerDUBAI // Some visitors to the UAE are facing heavy fines upon leaving the country because of erroneous official stamps in their passports.

Under the rule changes introduced last July, all visit visas are now valid for 30 days instead of 60. Yet a number visitors since then have been given stamps in their passports showing 60-day validity.

“I came in on Dec 28 and was given a visa at the airport that says ‘60 days from date of entry’,” said Anne, a British citizen. “I left 43 days later but was stopped at passport control and told that there were no more 60-day visas. The man said they were all 30 days, and I had to pay an Dh800 (US$218) fine. I wasn’t the only one; the people in front of me were having to pay Dh3,000. It was lucky that I had just enough cash on me or I would have missed my flight.”She said she was offered no explanation about when or why the rules had changed. Read the rest of this entry »

Posted in Dubai | Tagged: , | 1 Comment »

Defence blames Tamim’s killing on ‘affairs – several Arab leaders and businessmen with whom the victim had affairs had motives to kill her.

Posted by 7starsdubai on March 9, 2009


Last Updated: March 09. 2009 9:30AM UAE / March 9. 2009 5:30AM GMT

TheNational
A defence lawyer for the man accused of killing the Lebanese singer Suzanne Tamim said yesterday that several Arab leaders and businessmen with whom the victim had affairs had motives to kill her.

Atef el Manawi, the lawyer for Mohsen el Sokari, 39, a former Egyptian police officer, disputed DNA and video evidence presented by the prosecution. The singer, 31, was found dead in her apartment in Jumeirah Beach Residences on July 28 last year. Read the rest of this entry »

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Khoie Properties, the developer behind a proposed Dh2 billion (US$545 million) project on the man-made island of Al Marjan in Ras al Khaimah, is insolvent, its chief financial officer said yesterday – 800 investors in La Hoya Bay, 50 per cent are from the UK

Posted by 7starsdubai on March 9, 2009


Khoie Properties, the developer behind a proposed Dh2 billion (US$545 million) project on the man-made island of Al Marjan in Ras al Khaimah, is insolvent, its chief financial officer said yesterday.

The La Hoya Bay project was sold to hundreds of investors, many from Britain, who are now pressing the Government of Ras al Khaimah to intervene because little progress has been made.

A senior member of the board of Khoie Properties is in jail after being detained by police for allegedly failing to honour a cheque written to pay for the land. Read the rest of this entry »

Posted in Dubai | Tagged: , | Comments Off on Khoie Properties, the developer behind a proposed Dh2 billion (US$545 million) project on the man-made island of Al Marjan in Ras al Khaimah, is insolvent, its chief financial officer said yesterday – 800 investors in La Hoya Bay, 50 per cent are from the UK

What must an investor do if he suspects a developer isn’t meeting construction milestones?

Posted by 7starsdubai on March 9, 2009


original published GulfNews

Article (17) of Law No (8) 2007 is introduced, what must an investor do if he suspects a developer isn’t meeting construction milestones?

Law No (8) of 2007 came into effect on June 28, 2007.

Article (17) details circumstances under which a developer shall be cancelled from the Register of Developers. One circumstance is that the developer has failed to start construction within six months of being granted permission to sell off-plan, except
if the developer has an acceptable excuse.

No developer may carry out real estate development activities unless it is on the Register of Developers. Under Article (17), the Land Department is in charge of the Register of Developers and therefore where an investor feels a developer
is in breach of Article (17) and they cannot sort the matter between themselves, the investor should approach the Land Department
to help resolve the issue.

If I’m already an off-plan investor, will the new law be
of assistance to me too?
Law No. (8) of 2007 applies to contracts between investors and developers whether signed before, on or after June 28, 2007. While that law does not oblige a developer to use a payment schedule that is linked to construction milestones, RERA has recently made three recommendations.

Firstly, each developer will be restricted from collecting more than 30% of payments on developments until the developer started construction. Secondly, each developer will be precluded from selling off-plan until (i) it owns the land to be developed and (ii) it has completed
at least 20% of construction.

Thirdly, each payment plan must link payment installments to milestones in  the construction of the development. Although these recommendations are not yet law, this seems to be
RERA’s intention.

Under the new rental regulation, how do I know whether the cap applies to the property I’m leasing?

If property was rented during 2008 and the rent in 2008 was between the average standard rent and 75% of the average standard rent, then the rent in 2009 may not be increased (certain increases are permitted where the 2008 rent was less than 75% of the average standard rent).

A property’s average standard rent will likely be halfway between the low figure and the high figure for rents in that area in Dubai. (For details go to http://www.rpdubai.ae.)

I’ve heard that if investors have disputes with a developer and want to pursue matters further, they need to put down 7.5% of the total cost of the investment as a down payment, before they will be heard at a tribunal. Is this true?
In the contract between the investor and the developer, there will be a clause that states whether disputes are to be resolved before the Dubai Court or at arbitration. This clause will state the conditions (if any) that must be satisfied before a dispute goes to court or to arbitration.

 
It is possible that a specific contract would require payment of a given percentage of the purchase price,
but there are no hard-and-fast rules.
The investor should carefully read the terms of his contract in order to establish his position.  

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