7StarsDubai

Dubai UAE News from the Press Property Market Disaster and More

  • Dubai 7 Stars
  • November 2018
    M T W T F S S
    « Dec    
     1234
    567891011
    12131415161718
    19202122232425
    2627282930  
  • Middle East Unrest Update

  • Talk of the Town

    Jo Hopworth on Justice For Natalie – Na…
    Mariam on Criminal Complaint filed in Ge…
    Martin Kraeter on ACI Dubai Funds filed bankrupt…
    Independent Observer on Iranian’s lawsuit reveals roya…
    Rado on DubaiTouristen landen schnell…
    Dubai Citizen on Al Fajer Properties Case…
    Dane on Outlook in concrete- Dubai Wor…
    jamesl fayad on RERA Dubai – Dubai Prope…
    Jacques on Malika Karoum finally arrested…
    James Brown on ACI – Alternative Capita…
    Journalist on Al Fajer Properties-500 Invest…
    ron oakeley on ACI – Alternative Capita…
    Benson Fu on Shahram Zadeh against Al Fajer…
    Monika on RERA – Dubai mulls cance…
    Ali Varahram on Shahram Zadeh against Al Fajer…
  • Top Rated Comments

  • Top Posts

  • RSS Dubai United Arab Emirates Property Real Estate Debt Fraud Developer Investor Court News

    • 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 […]
  • Top Rated Posts

    • 480,176 visitors 2010
  • Disclaimer 7 Stars Dubai

    This Website of the Blog 7starsdubai.wordpress.com and 7starsdubai.com content still existing media releases and comments from reputated press and websites only. The content of this Website focus to consumer protection for Investors of the Dubai Property market, the UAE and the Middle East. Press Article from the international Press who report about Fraud in relation with Property Investment and Real Estate Developer Investor Disputes in Dubai and the UAE as well reports from the Press about other criiminal acts and Civil Real Estate cases, Lawsuits before the Court in Dubai, the UAE or other countries. Furtheron we show reports about consumer protection and human rights in the Middle East. Actual Topics about the Unrest in Middle East. The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of this site does not constitute advice or a recommendation by us.Communications and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this Web site. We can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on this Web site nor do opinions of contributors necessarily reflect those of us.In no event shall we be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to this Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise. Comment Rules: Although the administrators and moderators of 7starsdubai.com will attempt to keep all objectionable comments off this Blog, it is impossible for us to review all comments . All messages express the views of the author, and neither the owners of this Blog, nor the administrator of this Blog will be held responsible for the content of any message, comment. By agreeing to these rules, you warrant that you will not post any messages that are obscene, vulgar, hateful, threatening, or otherwise violative of any laws. The adminstrator of this Blog reserve the right to remove, edit, move or close any comment (message) for any reason This Blog content still existing media releases and comments from websites only. The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of this site does not constitute advice or a recommendation by us.Communications and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this Blog. We can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on this Web site nor do opinions of contributors necessarily reflect those of us.In no event shall we be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to this Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise. Copyright: The copyright to the text of the blog is held by the author or link as source provided, where applicable. All images displayed are copyright their respective owners and are used either under licence or under the fair use provisions of international copyright law. The information contained in this Web site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this site. Accordingly, the information on this site is provided with the understanding that the authors and publishers are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. Before making any decision or taking any action, you should consult the administrator of this website. While we have made every attempt to ensure that the information contained in this site has been obtained from reliable sources, 7starsdubai.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will 7starsdubai its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages. Certain links in the Web site connect to other sites maintained by third parties that may or may not be presented within a frame on the Web site. 7starsdubai.com has not verified the contents of such third party sites and does not endorse, warrant, promote or recommend any services or products, that may be provided or accessed through them or any person or body which may provide them. 7starsdubai.com has not issued or caused to be issued any advertisements which may appear on these Web sites. We do not review, monitor or endorse any third party web sites linked to Our Site and We are not responsible for the content of any web site linked to Our Site. Your access to any web site that links to Our Site is at your sole risk. We are not responsible for the information, material, products, or services contained on or accessible through such other web sites and will not be liable for any form of loss or damage arising as a result of or in connection with your visits to such web sites. Any links to other web sites are provided merely for the convenience of the users of this Site and the inclusion of these links does not imply an endorsement of the linked web sites or the content therein. In addition, you agree not to link your web site or any other third party web site to Our Site or frame Our Site as part of any other web site without Our express prior written consent. We reserve the right, at any time and for any reason not prohibited by law, to deny permission to anyone to link a web site to, or frame, Our Site. We reserve the right to withdraw Our consent at any time to a link to, or framing of, Our Site at Our sole discretion without notice. Your use of this Site and the operation of these Terms and Conditions shall be governed by and construed in accordance with the laws and regulations of and applicable in Germany You agree, acknowledge, and submit to the Court in Germany having non-exclusive jurisdiction over all and any dispute or difference between us arising out of or in connection with this Agreement. Please review these Terms and Conditions carefully before using this Site. Your use of this Site indicates your irrevocable agreement to be bound by these Terms and Conditions (as may be amended by Us from time to time). If you do not agree to be bound by these Terms and Conditions please stop accessing and using this Site immediately. Warning: We are aware that several times Cybercriminals mirrowed our Website and posted on several Forums, Website comments by misuse of our email adresses. These Cybercriminals registerd several similar looking Domains and installed several 1:1 mirrowed Websites which look like our Website 7starsdubai. We have already taken the necessary steps by filing criminal complaints against the Individuals behind this Identity theft an Cybercrime, by misusing fraudulently our Blog Identity 7starsdubai. In Search engines like Google, Yahoo, Bling and others you should always take a close view to the links. If this links do not originaly start with www.7starsdubai.com or http://7starsdubai.worpress.com/.... you will end on a faked mirrowed modificated Website. The genral Background of this Cybercriminals is a Stalking and Smear campaign, faking stories for their personal use, to discriminate Persons with the goal to destroy their reputation.
  • RSS ZDF Heute Germany

    • An error has occurred; the feed is probably down. Try again later.

Posts Tagged ‘ACI Dubai’

ACI Dubai – Staatsanwaltschaft Bielefeld erhebt Anklage gegen Robin Lohmann wegen Untreue

Posted by 7starsdubai on July 19, 2012


In dem Skandal um den Dubai-Fonds der Gütersloher Anlage-Firma ACI hat die Staatsanwaltschaft Bielefeld Anklage wegen Untreue in mehr als 100 besonders schweren Fällen erhoben.Bei den angeklagten handelt es sich um  die beiden Geschäftsführer Robin Lohmann und Hans Uwe Lohmann  sowie ein Treuhand-Anwalt aus Gütersloh . Ihnen wird vorgeworfen, im zweiten Halbjahr 2008 Anlagekapital von Gesellschaftern eines Dubai-Fonds nicht zur Finanzierung der Immobiliengeschäfte in Dubai sondern zweckwidrig verwandt zu haben . Mit dem Geld der Anleger sollten eigentlich Wolkenkratzer in Dubai gebaut werden.

Die Staatsanwaltschaft beschuldigt die Drei, Geld unterschlagen zu haben, um damit beispielsweise Rolex-Uhren zu kaufen. Außerdem sollen in zwei angeschlagene Firmen eines Freundes Darlehen in Millionenhöhe geflossen sein.

Die Pleite des ACI Dubai-Fonds hat schätzungsweise einen Schaden von 60 Millionen Euro verursacht.

Posted in ACI Immobilienfonds, ACI Lohmann Dubai, Robin Lohmann, Staatsanwaltschaft, Strafanzeige Deutschland | Tagged: , , , | Comments Off on ACI Dubai – Staatsanwaltschaft Bielefeld erhebt Anklage gegen Robin Lohmann wegen Untreue

Dubai property investors who lost life savings continue fight

Posted by 7starsdubai on January 28, 2012


Ron Oakley lost Dhs1.46 million to German development company, Alter­native Capital Invest (ACI) Dubai, which
promised huge returns on luxury Dubai tower blocks named after tennis star Boris Becker and racing legends Niki Lauda and Michael Schumacher.

Last February Mr. Oakley was awarded by Dubai courts a full refund on his Dhs1.46 million investment in Niki Lauda Twin Towers – the first ACI investor to win his money back.

However, nearly one year on, Oakley has yet to receive a dirham in return and has racked up Dhs 700,000 in legal fees.

source 7Days continue reading…

Posted in ACI Lohmann Dubai, Dubai Property Investors, Dubai Property legal, Dubai Real Estate Scandal | Tagged: , , , | Comments Off on Dubai property investors who lost life savings continue fight

Where is Robin Lohmann of ACI Real Estate Dubai

Posted by 7starsdubai on November 18, 2010


Page III

Aci Story Page IV

Page 5 Page 6

original source Spectator Business Issue October 2010

read also from Arabian Business:

I don`t know Robin Lohmann Niki Lauda claims

Ex Formula One racing driver Niki Lauda has denied knowing Robin Lohmann, the man who he co-launched the Niki Lauda Twin Towers real estate project with in Dubai three years ago.

Speaking to Arabian Business, Lauda claimed he had only met the CEO of Alternative Capital Invest, the developer behind a string of now-stalled Dubai property projects, on one occasion.

All I did was give my name to a builder in Dubai but unfortunately they are in a mess,” he said on the sidelines of the Abu Dhabi Grand Prix.

I don’t know exactly what the details are because I have nothing to do with bringing the tower up, this was the builder who did it.

Posted in ACI Immobilienfonds, ACI Lohmann Dubai, Dubai, Robin Lohmann | Tagged: , , , , | Comments Off on Where is Robin Lohmann of ACI Real Estate Dubai

Comment of the Week – ACI Dubai and ACI Investment Funds

Posted by 7starsdubai on September 15, 2010


comment by MK

ACI – Abandoning Capital Innocent?

With view to the general reports in German and UAE (as well) media, the standard reader comes to the following result:

Anyone is responsible for ACI’s bankruptcy – except ACI itself or better said the Lohmann clan members:

A – DUBAI, because this “desert village” lured international capital with a too unrealistic metropolis vision!
Well, this seems to be viewed differentiated and seems to be depending from the professionalism of the developer – with a look to hundreds of successful real estate projects.
Following official ACI statements, Dubai should appear as pure biggest graveyard of abandoned construction plots. And if one out of 100 towers has reached completion there are no property tenants/users to move in. Well . . . staying here in Dubai draws a very different picture.

B – Again DUBAI, because Dubai legislation obliged ACI to withdraw 80% (!!!) of its asset values in one move as a law – and only this obligation caused the bankruptcy!
THIS IS NEITHER A JOKE, NOR A RUMOUR!!! THIS is ACI’s argumentation in their 2009 balance sheets as well as in their insolvency application!!! All shareholders are being told that the ACI management had no other choice than depreciating 80% of all asset values, forced by a rule existing in Dubai. Well, this is the first case of its kind where (definitely not existing) accounting regulation from Dubai has got legal influence on balance sheets under German legislation.

C – The FINACIAL CRISIS, of course!
Sure, ACI is and will never be the only “Ponzi”, misusing the global financial crisis as wildcard explanation for own incompetence.

D – “INTRIGUES” by competitors and UNFAVORABLE REPORTS in the media!
ACI and its dubious strategies have been at least since summer 2005 (!!!) topic in various German media and blogs. But of course, the reflex is typical, “who is not with us, is against us”. There has never been a kind of differentiation between serious critical questions and ACI’s own fears to get “disclosed”.

Summarizing: ACI and its unqualified family management clan belongs to the “unsung heroes” of the international development scene which they entered from operating a small garments shop in Guetersloh (!!!). And the disaster now is only result of crock investors, lawyers, journalists, bloggers etc.

comment by Martin

For the more involved ones, all ACI statements as well as activities during the last weeks are much more than a joke – they show very clear indicators for a bi-national multi-million-Euro-fraud. All usual ingredients are part of the game: directors resignation short before filing bankruptcy, secession of assets to installed shelf companies, round blaming of third parties as responsible etc. etc.

It’s a matter of fact that the ACI bankruptcy is NOT a standard entrepreneurial accident – it is a devious weave of fraud.

Posted in ACI Immobilienfonds, Real Estate Scandal Dubai, Robin Lohmann | Tagged: , , , | Comments Off on Comment of the Week – ACI Dubai and ACI Investment Funds

ACI Dubai Funds filed bankruptcy in Germany

Posted by 7starsdubai on September 14, 2010


source nw-news

Gütersloh / Bielefeld, Germany (dpa).

Several companies from real estate funds in Dubai, under the umbrella of the Gütersloh investment company ACI have registered on Friday for bankruptcy.  In this act it is the companies of the Fund II to V and the ACI IV Beteiligungs GmbH, said the district court of Bielefeld. A temporary administrator will probably determined on Monday, it said.  File number has not yet been awarded.
The company had previously announced bankruptcy.  ACI-founder Uwe Lohmann had stressed that the reason is the falling price of real estate in Dubai.
continue  reading original text in german ….

Full report update source The National September 14, 2010

Berlin // German prosecutors have confirmed they are investigating
the management of Alternative Capital Invest (ACI), the biggest German
property investment fund in Dubai, amid allegations of fraud. The
company had declared bankruptcy on four of its investment funds.

An investigation has been launched against executives of the company ACI
for alleged capital investment fraud and breach of trust,” Heinrich
Rempe, a senior prosecutor in Bielefeld, western Germany, told The
National last night.

The company set up investment funds in Germany with the purpose of
entering into investments in Dubai. The investigation is focusing on
alleged false information given in the prospectus the company issued
for its funds.

Mr Rempe said ACI had a total of seven investment funds and that four of them, numbered II to V, had filed for insolvency. He said the investigation had been going on for several months.

“The probe is still at an early stage,” Mr Rempe added.

ACI declined to comment.

Accordingto Handelsblatt, a leading German business newspaper, ACI had collected about €210 million (Dh1 billion) from about 6,000 investors in its
various funds to invest in constructing high-rise developments in
Dubai.

Handelsblatt said Bielefeld prosecutors were investigating the founder of ACI, Hanns-Uwe Lohmann, and his son Robin, and that ACI’s headquarter in the western German town of Guetersloh had been searched in June.

Mr.Lohmann has denied the allegations. German media quoted him as saying the projects ACI had invested in were unfinished and the slump in Dubai property prices had forced the company to make “unavoidable balance sheet write-downs of the book values.

Mr Lohmann has resigned as the chief executive of ACI.
ACI is engaged in several development and property projects in Dubai and was best known for its concept of “tower branding”.

The fund company was planning towers named after celebrities such as
the Formula 1 drivers Michael Schumacher and Niki Lauda, and the tennis
champion Boris Becker. Huge advertisement campaigns ran throughout Dubai until 2008 before the property market reached its peak.ACI
told investors in a recent letter that while its Dubai Fonds II to V
had declared bankruptcy, the latest funds Dubai Fonds VI and VII had
not. Fonds I had been closed at an earlier date, and €13.5m had been
paid out to investors.Media reports said ACI had expected to realise projects worth more
than €600m in Dubai before the financial situation deteriorated.

ACI
developments include the Dubai Star tower in Jumeirah Lake Towers for
which a new contractor is being sought, according to a statement by ACI
Real Estate in Dubai.
The Q Sami tower and Victory Bay in Business Bay are also seeking new contractors. The PKS Residences and the Mayfield Gardens projects in Jumeirah Village have been put on hold, along with the Niki Lauda, Boris Becker and Michael Schumacher towers and the Wings of Arabia project in Dubailand.

Progress on the Ferretti and Pershing Beach Residences on Waterfront
have also ground to a halt, although they were slated for completion by
next year.

ACI claims that some of the projects have already been sold.
Earlier this year, ACI tried unsuccessfully to sell other assets as potential
buyers cancelled deals. Mr Lohmann blamed this on “intrigues” by
competitors and unfavourable reports in the media.

Posted in ACI Immobilienfonds, ACI Lohmann Dubai, Dubai Debts | Tagged: , , | 1 Comment »

Im Focus der Staatsanwaltschaft – ACI Dubai Investmentfonds

Posted by 7starsdubai on July 6, 2010


source Handelsblatt
Niki Lauda macht den großen Boxenstopp in Dubai – und das ausgerechnet bei Alternative Capital Invest (ACI). Ob er oder andere Sportgrößen wie Boris Becker und Michael Schumacher noch einmal ihren guten Namen für diese Gesellschaft hergeben würden, ist höchst zweifelhaft. Denn für ACI, einen Anbieter von Dubai-Immobilienfonds mit Sitz in Gütersloh, interessiert sich inzwischen die Staatsanwaltschaft in Bielefeld. Sie ließ Ende Juni die Geschäftsräume von ACI durchsuchen – wegen des Verdachts auf Kapitalanlagebetrug.

Für sieben Fonds hatte ACI laut Analysehaus Feri rund 210 Mio. Euro eingesammelt. Die Zahl der Anleger beziffert ACI selbst auf mehr als 6 000. Die Firma war damit Marktführer unter den Dubai-Fonds, in die nach Angaben von Feri insgesamt rund 700 Mio. Euro investiert wurden – von schätzungsweise 20 000 Anlegern. Nicht nur die ACI-Kunden werden von ihrem Geld wohl nur einen Bruchteil wiedersehen – das zeichnet sich schon jetzt ab.

Von wenigen Ausnahmen abgesehen sind Dubai-Fonds-Anleger, wie bei geschlossenen Fonds üblich, Kommanditisten einer KG, sie haften also nur mit ihrer Einlage. Mit ihrem Geld, meist mindestens 10 000 Euro, sollten nach Abzug diverser Nebenkosten Immobilien in Dubai entstehen und mit Gewinn weiterverkauft werden. Und das auch möglichst schnell, denn das Steuerschlupfloch, das die Gewinne von der Steuer befreite, gab es nur bis Ende 2008. Gesetzesänderungen und die weltweite Immobilienkrise machten den Anlegern einen Strich durch die Rechnung. Vor allem das riskante Geschäftsmodell, angezahlte Objekte vor Fertigstellung zu einem höheren Preis weiterzuverkaufen, ging nicht auf, weil sich keine neuen Käufer fanden. …..continue reading…

Dieses Modell verfolgte auch ACI. In dem im Juli 2007 aufgelegten Prospekt für den Fonds VII warb ACI zum Beispiel damit, dass der erste Fonds prospektgemäß aufgelöst worden sei und die Immobilien der Fonds II bis V verkauft seien. Heute gibt ACI-Chef Hanns-Uwe Lohmann zu: “Der bereits Mitte 2008 von der ACI eingeleitete Gesamtverkauf der Fonds II bis V an die Firma Yama scheiterte auch daran, dass der gesamte Immobilienmarkt in Dubai zusammenbrach.” Anlegeranwalt Hartmut Göddecke vermutet andere Gründe: “Die Grundstücke gehören offenbar nicht einmal den Fonds”, sagt Göddecke.

Posted in ACI Immobilienfonds, ACI Lohmann Dubai, Robin Lohmann | Tagged: , , | Comments Off on Im Focus der Staatsanwaltschaft – ACI Dubai Investmentfonds

ACI Dubai-Guetersloh-Bettelbriefe und das warten der Investoren auf ein Wunder

Posted by 7starsdubai on February 5, 2010


continue reading

Dokumente zum Thema  ( original source GoMoPa)
» Abstimmung II. Dubai Tower KG
» Abstimmung III. Dubai Tower KG
» Abstimmung IV. Dubai Tower KG
» Abstimmung V. Dubai Tower KG
» ACI-Bettelbrief für Ex-Fonds II
» ACI-Bettelbrief für Ex-Fonds III
» ACI-Bettelbrief für Ex-Fonds IV
» ACI-Bettelbrief für Ex-Fonds V
» ACI-Bericht an die Anleger vom 17.12.2009

Pressemitteilungen zum Thema
» ACI: Keine Sorge, Robin Lohmann bucht ab
» ACI-Dubai-Fonds: Wir zahlten nie aus Gewinnen
» Dubai-Fonds: ACI droht Anlegern mit Insolvenz
» Pressefreiheit endet am Geldhahn
» ACI: Der Boss ist erst zehn Jahre alt
» ACI-Chefs bestellten neue Identität in Panama
» ACI-Owners ordered new Indentities
» ACI-Dubai-Fonds: sechs neue Bentleys für den Chef
» ACI-Dubai: Dr. Schulte Anwälte prüfen Haftung von Boris Becker, Michael Schumacher & Niki Lauda
» ACI Dubai Fonds – inklusive Lear Jet für den Juniorchef
» Die Pleitetürme von Becker, Schumacher und Lauda
» Dubai: Jeder Depp wurde Spekulant
» Steuerparadies Dubai: Schluss mit lustig

Angaben aus dem Departement of Economic Development (DED) in Dubai
» YAMA und ACI
» ACI Consultancy
» ACI General Trading LLC
» ACI Investment Project LLC
» ACI Real Estate LLC
» YAMA LLC

Beiträge zum Thema
» ACI: Alternative Capital Invest Dubai Tower
» Bauboom in der Wüste
» Dubai Fonds Richtigstellung
» Kennt einer das hier
» Immobilienfonds Dubai, Libanon, Oman etc.
» Aussergewöhnliche Renditen
» ACI Holding Group Inc Development Unernehmen

Posted in ACI Immobilienfonds, Dubai, Robin Lohmann | Tagged: , , , | Comments Off on ACI Dubai-Guetersloh-Bettelbriefe und das warten der Investoren auf ein Wunder

ACI Real Estate Dubai: Nakheel hits back at ACI Waterfront claims

Posted by 7starsdubai on July 14, 2009


source Arabian Business

Master developer Nakheel on Monday hit back at claims made by Dubai property group ACI Real Estate – and insisted its Waterfront mega-project was going ahead.
 
Robin Lohmann, managing director of ACI Real Estate, in an interview with Arabian Business this week, blamed the state-owned developer for a lack of progress on his flagship Ferretti Luxury Beach Residence and Pershing Luxury Beach Residence projects, located in the Madinat Al Arab area of the Nakheel’s Waterfront development in Jebel Ali.

“We have invested in several plots in Dubai Waterfront. We need to know from the master developer of Waterfront, which is Nakheel, if they plan to go ahead with the project now or not. Once we have these answers we can give to answers our purchasers,” Lohmann said.

But in an emailed statement to Arabian Business Nakheel said it had handed over ACI’s two plots and the company was free to start construction.

“The two plots which ACI own at Madinat Al Arab have already been handed over,” a spokesman for Nakheel said.
 
“Waterfront has not been cancelled. Our current focus at Waterfront is on Badrah, Veneto, and Madinat Al Arab. Work continues to make good progress at these sites,” the spokesman added.

The Madinat Al Arab phase of the Waterfront is due for completion in 2015. Other sub-developers such as Plus Properties have started construction at Madinat on its Pixel Tower and Wave Residence projects.
 
“At Madinat Al Arab, we remain committed to providing infrastructure to third party developers as per their Sales and Purchase Agreements. The majority of plots in this phase have been handed over with some third party developers already mobilised on-site,” the Nakheel spokesman added.
 
Dubai-based property developer and investment company ACI Real Estate, is a division ACI (Alternative Capital Invest) Group, a German firm with interests in asset management and real estate.

The Waterfront is a planned seaside mega project, twice the size of Hong Kong. It is being built over six phases and completion dates range from 2010 to 2018.

Nakheel said in December the Madinat Al Arab, Veneto, Badra and Canal District phases of the Waterfront were pressing ahead, while other sections would be delayed in the wake of the global crisis.

Posted in Dubai | Tagged: , , , | Comments Off on ACI Real Estate Dubai: Nakheel hits back at ACI Waterfront claims

German Developer ACI Dubai verzettelt sich in Dubai – Financial Times Germany

Posted by 7starsdubai on July 10, 2009


source Financial Times

Prominente verkauften ihre Namen für Bauvorhaben in Dubai – jetzt gerät das Projekt zum Skandal. Es geht um geplatzte Immobilienspekulationen, neue Identitäten in Panama – und für Anleger um 600 Mio. Euro.

Promis sind gut. Promis ziehen immer. Daher erblickte, wer vor zwei Jahren ins glamouröse Dubai reiste, überall Plakate eines Projektentwicklers aus dem nicht ganz so glamourösen Gütersloh. Sein Name: Alternative Capital Invest (ACI). Selbst Wolkenkratzer waren mit Riesenpostern bedeckt, die mit den Konterfeis von Promis wie Michael Schumacher, Boris Becker und Niki Lauda für Türme warben, die deren Namen trugen. “Man dachte, die ganze Stadt gehört ACI”, erinnert sich Lothar H.

Der Geschäftsmann hat Strafanzeige gegen ACI-Chef Robin Lohmann gestellt. Für ihn geht es um 150.000 Euro. “Lohmann ist ein Betrüger”, sagt H. Mit der These ist er nicht alleine.

Rund 600 Mio. Euro will ACI von insgesamt 8.000 Anlegern für Projekte im Scheichtum eingesammelt haben. Doch an den Baustellen stehen die Kräne still, zugesagte Auszahlungen fließen nicht. ACI beschwichtigt – und schießt gegen Kritiker zurück: Man sei Opfer von Internet-Stalking, es liefen Rufmordkampagnen. Nutzer von Finanzforen stießen kritische Recherchen an – und behaupten: Die Chefs von ACI sollen versucht haben, für 750.000 Euro die Flucht aus Dubai nach Panama vorzubereiten, unter fremder Identität. ACI dementiert das. Anlegerschützer sind dennoch alarmiert: “Wir befürchten das Schlimmste”, sagt Claudia Lunderstedt-Georgi vom Deutschen Verbraucherschutzring.
Dass es für das Geschäftmodell von Lohmann schwierig ist, liegt auf der Hand. Die Immobilienpreise haben sich in Dubai seit ihrem Hoch halbiert, die Analysten der Deutschen Bank rechnen mit einem weiteren Preisverfall um 20 Prozent. Der Preissturz brach vor allem den so genannten “Flippern” das Genick, den Spekulanten, die Immobilien erwerben und sofort weiterverkaufen. In Boomzeiten brachte das sichere Gewinne: In den USA wie auch in Dubai wechselten Immobilien bis zu zehn Mal zwischen den Flippern, ehe sich der erste Baukran drehte. Bricht der Markt jedoch ein, sitzen die Flipper auf Objekten, die sie nicht wollen. Oder nicht zahlen können.

Den “Master of Flipping” nennen Immobilien-Insider Lohmann im Wüstenemirat. Doch es hat sich ausgeflippert. Ohne Extrakugel. “Hier gibt es leere Häuser und Büros ohne Ende”, sagt Esther Stimmler vom Deutschen Wirtschaftskreis in Dubai. Auch ACI-Projekte sind so ins Schlingern geraten. Bei der Auszahlung der Anleger von vier Fonds gebe es “Verzögerungen”, gesteht ACI auf seiner Homepage ein, das Kapital sei nur noch “weitestgehend gesichert”. Es geht zunächst “nur” um 54 Mio. Euro. Schuld sind die Anderen: Ein Käufer von ACI-Bauten könne angeblich nicht zahlen. Während FTD-Anfragen in den ACI-Büros in Gütersloh und Dubai unbeantwortet bleiben, meldete sich Robin Lohmann am Donnerstag auf der Online-Plattform “Arabian Business” mit den Worten: “Geld zurück ist derzeit keine Option”.

Jetzt fahnden mehrere Anwaltsbüros nach geprellten ACI-Investoren. Anwalt Jens-Peter Gieschen aus Bremen, hat nach eigenen Angaben zehn Mandanten gewonnen. “Nach unseren Informationen sind auch bei Projekten, die Investoren als Sicherheit dienen sollen, die Bautätigkeiten inzwischen weitgehend eingestellt”, sagt Gieschen. Auch einstige Vertriebspartner des Fonds haben sich von ACI distanziert. Man sehe “dringenden Handlungsbedarf”, heißt es in einem Schreiben, dass der FTD vorliegt. Sie haben ein Kontrollgremium eingerichtet und fordern eine Gesellschafterversammlung der Fonds.

Der Berliner Anwalt Sven Tintemann will die prominenten Zugvögel, die die Immobilien bewarben, zur Verantwortung ziehen. Er bastelt nun an einer Klage gegen Schumi, Becker und Lauda.

Posted in Dubai | Tagged: , , | Comments Off on German Developer ACI Dubai verzettelt sich in Dubai – Financial Times Germany

Troubled German Developer ACI puts Dubai Waterfront Towers on hold

Posted by 7starsdubai on July 9, 2009


source The National

Alternative Capital Invest (ACI) Real Estate, the troubled German-owned developer behind projects such as the Boris Becker, Michael Schumacher and Niki Lauda towers, says it will put on hold its developments on the Dubai Waterfront and shift investor holdings to other assets.

Affected projects include the Ferretti and Pershing towers, which have yet to begin construction. The company said it would shift client’s investments in these developments to its towers in Business Bay, which consist mainly of the towers linked to prominent German sport figures. The Becker, Schumacher and Lauda towers are currently under construction but running significantly behind schedule.

In recent weeks a group of German investors in ACI-linked funds, which have financed the developments, complained that the developers have missed payout deadlines. The postponement of the Dubai Waterfront towers comes as ACI is struggling to maintain investor funding that it needs to complete existing projects.

Robin Lohmann, the managing director of ACI Dubai, said in a recent interview slowing payment was having an impact on construction schedules.

“All our sites [in Business Bay] are under construction,” he said. “But since there are delays in people’s payments, we have had to slow down in order to deal with it. If nobody pays, the risk is that construction stops. This is the last thing that we want.”

He added that of the 11 projects the company had underway, at least seven were under construction.

Posted in Dubai | Tagged: , , , | Comments Off on Troubled German Developer ACI puts Dubai Waterfront Towers on hold

ACI Real Estate Dubai Update: ACI Owner ordered new identities in Panama

Posted by 7starsdubai on July 6, 2009


source 06. July 2009

ACI owner Uwe Lohmann (64) and his son Robin (34) shall have offered 750.000 Euros down payment in cash to an international offshore and consulting provider in Panama – to receive two new identities in South America!?!

The consultants should also care for a secure domicile abroad with protection against extradition – as well as for bodyguards as company for both German “businessmen”. Robin Lohmann shall also have transferred huge amounts to Bahrain, further funds shall be deposited in Panama and Belize.

What the Lohmann family did not consider with their supposed flee preparations: The consultant which has been contacted by them, is also correspondent of the Financial Intelligence and News Service http://www.gomopa.net.

Father and son Lohmann planned and launched in Dubai commercial and residential tower projects, accumulating 300 Million Euros from more than 8.000 German investors, at least in the same amount from Off-Plan unit buyers in Dubai and further 500 Million Euros from UAE banks. Parts of their projects have been branded with the names of celebrities like Boris Becker, Michael Schumacher and Niki Lauda. Meanwhile, Robin Lohmann was forced to deposit his passport at Dubai authorities and has to show up frequently at police and public prosecution in Dubai. His management team under Indian Sanjay Chimnani already left the country.

In spite of several trials, none of the Lohmanns was available for statements. For journalist colleagues from ArabianBusiness as well as GoMoPa and others, Robin Lohmann was not reachable – neither in person, nor via phone.

Under these conditions, it seems to be just a matter of time till the former “CEO of the year” will be brought into custody.

Posted in Dubai | Tagged: , , | Comments Off on ACI Real Estate Dubai Update: ACI Owner ordered new identities in Panama

ACI Group denies CEO Robin Lohmann has been jailed, fled UAE

Posted by 7starsdubai on July 2, 2009


source Arabian Business

UAE-based real estate broker ACI Group has denied stories in German business media that the company’s CEO Robin Lohmann has been jailed.

Trade title Financial Intelligence Service last week reported that Lohmann has been under investigation by the Dubai police.

The paper stated that four independent sources had confirmed Lohmann had been taken into custody for one night, had surrendered his passport to the authorities, and was not allowed to leave the country before the debts of ACI Dubai were settled.

Real estate companies have been battered by the collapse in property prices in the UAE, which has led to several master developments grinding to a standstill.

Sub developers with projects within these master developments have been battling to satisfy investors who have paid deposits for property that is not currently being built, while struggling to pay contractors on jobs that are ongoing.

Last week a senior executive of Khoie Properties, the developer behind a $550 million project on Ras al Khaimah’s man-made island of Al Marjan, was handed a three year jail sentence for bouncing two cheques totalling over $30 million.

An official from ACI, who spoke exclusively to Arabian Business but would not be named or directly quoted, said that reports in the German business press about Lohmann’s arrest, and rumours circulating in the Gulf that he had fled the country, were not true.

ACI Group is a German-based company that entered the Gulf market in 2004 with a multi-million dollar marketing programme for a succession of projects and established a glamorous headquarters – a large converted beach villa that overlooks the Arabian Gulf.

High profile projects in the emirate included tie-ups with F1 racing legend Michael Schumacher and former Wimbledon tennis champion Boris Becker.

The office is still functioning, as Arabian Business discovered when it visited the premises last week. Mr Lohmann was not available for a meeting and has not returned our calls.

A company spokesman mounted a robust defence for ACI, noting that, unlike many other developers who had already fled the country, ACI was still operating and construction work was ongoing. The company’s web site, he said, showed pictures of ongoing construction work that proved work is progressing.

There are 19 projects promoted on the web site, but only seven have “construction updates” that show progress on building sites.

The remainder, which includes the Boris Becker Beach Resort & Tennis Academy in Ras Al Khaimah, have no construction updates on the web site.

ACI said that no refunds were being paid to investors because projects have been postponed, not cancelled, but added that investors were not required to pay additional instalments until construction work restarted.

Posted in Dubai | Tagged: , , , , | Comments Off on ACI Group denies CEO Robin Lohmann has been jailed, fled UAE

ACI Real Estate Dubai – ACI Funds Germany and Austria – Investors in Becker, Lauda and Schumacher Towers demand refund

Posted by 7starsdubai on July 2, 2009


source The National  July 01, 2009

German and Austrian investors are demanding their money back from funds set up for the construction of the Niki Lauda, Michael Schumacher and Boris Becker towers in Dubai.

The investors paid about €150 million (Dh779.7m) into funds to pay for the buildings. The investments would then be repaid from the capital gains.

But the investors said money due in March had not been repaid and they were consulting lawyers to withdraw their money from the funds.

Alternative Capital Invest (ACI), the investment company behind the project, insists it has “solid assets” and the towers will go ahead, according to its managing director, Robin Lohmann.

Mr Lohmann said the money to repay investors was not available because the projects could not be sold as planned due to the market slowdown.

He offered the investors the choice of waiting until ACI’s assets could be liquidated, or the chance to take property assets owned by another company, Falcon International Investment Group, based in Dubai.

But some investors fear that if they accept the Falcon option, they may end up with additional risk and costs.

“Since I do not know the value of Falcon’s properties nor what exactly the liabilities and commitments are according to Dubai law, I am extremely sceptical,” said Hartmut Goddecke, the lawyer for several German investors. “We don’t know what exactly we are buying here.”

According to Martin Kraeter, a German business facilitator based in Dubai, the ownership of Falcon’s assets is unclear, although it has links to ACI.

Falcon only speaks about reservation contracts of different properties but reservation contract is not a purchasing contract,” Mr Kraeter said. “We may end up with shifting Falcon’s risk into investors’ responsibility.”

But Mr Lohmann said: “With this package, we just wanted to show people that we have the ACI assets which are the Boris Becker Tower, the Schumacher Tower and all the rest, and th0at in addition to that we also offer a security package through Falcon of fully paid assets worth about €100m, which is almost the double of what was due in March.”

In Dubai, property buyers who have invested off-plan in apartments in ACI’s buildings are also upset at delays in construction. Mr Lohmann said there had been complaints from the buyers but also delays in their payments to the developer.

Posted in Dubai | Tagged: , , | Comments Off on ACI Real Estate Dubai – ACI Funds Germany and Austria – Investors in Becker, Lauda and Schumacher Towers demand refund

ACI Real Estate Dubai – Comment of the Day

Posted by 7starsdubai on June 29, 2009


Comment from : complain.aci June 28, 2009 at 1:13 pm

REQUEST FOR CONTACTS

The press releases in Germany did lead to an enourmous media recognition.
Actually, there are several serious national and international requests, looking now for “ACI victims” here.

Thus, we are looking for

a) unit buyers with running cases,

b) suppliers running behind their moneys,

c) other serious detailed information.

Please, no gossip or twitters. Just facts.

As a first step, we can be contacted via E-Mail, complain.aci@gmail.com

Posted in Dubai | Tagged: , , | Comments Off on ACI Real Estate Dubai – Comment of the Day

Comment of the Day – Driven by good faith in the name ACI and its German CEO

Posted by 7starsdubai on June 16, 2009


Wirtten to 7Stars by James 16. Jun2 2009

Driven by good faith in the name ACI and its German CEO, I have entrusted ACI AED 750,000.00 with the INTENT to purchase an apartment/unit in ACI’s Project PALAZZO ARABIA Al-Furjan.

I have not signed any reservation contract/agreement, much less the Purchase/Sales Contract, since I did not consent to the conditions. Since the project entertains an escrow account with NBAD, I trusted that my funds will be sitting in that account.

In order to have access to information about that, I would have to register the Unit, which I “intended” to purchase with RERA. This would cost another up 3 percent of the offered sales price of some AED 2.6 million.

As per legal advise, I decided not to do that and instead file a very clear-cut criminal complaint based on allegations of potential embezzlement of funds and unjustified enrichment, after the legal department of ACI responded negative to the request of my attorney to refund my AED 750,000.00.

Question: would anyone, who read this comment, know of other formerly interested parties of the PALAZZA ARABIA project of ACI?

Posted in Dubai | Tagged: , , | Comments Off on Comment of the Day – Driven by good faith in the name ACI and its German CEO

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

 
%d bloggers like this: