City of Arabia Project

[City of Arabia's Victim]

I'm re-opening the thread, City of Arabia Project. For some reasons, which we are still trying to figure out, the previous thread "city of arabia" including all its contents has been deleted!

Herewith, we, investors of city of arabia, would like to request the admin(s) of propertycommunity for a swift clarification.

Best regards,

City of Arabia's Victim

 

[The Master]

dear City of arabia victim i was also surprised and shocked that the previous forum was cancelled and closed why i don't know either. Does any one know what happened with the cancelation of the project City of Arabia. What is happening I should have continued to run the group i would like to start a group of all investors of City of Arabia and we can write to may high officials in Dubai petitioning the immidiate cancellation and refund of our monies.

 

[Britintexas]

Loss of past posts - City of Arabia

Hello All

I am also surprised to find the 130+ pages of posts have been removed. The last information I received was that the Metro Tower project was cancelled. Is there anyone out there living in Dubai who can provide an update on the situation. If the project is cancelled what executive powers/authority do DLD have over IMGG? Can DLD enforce the refund of monies to investors?

 

[City of Arabia's Victim]

dear City of arabia victim i was also surprised and shocked that the previous forum was cancelled and closed why i don't know either. Does any one know what happened with the cancelation of the project City of Arabia. What is happening I should have continued to run the group i would like to start a group of all investors of City of Arabia and we can write to may high officials in Dubai petitioning the immidiate cancellation and refund of our monies.

We've already formed the group and everybody is in it. Also taking good steps- read the blog.

I herewith announce that if propertycommunity does not restore all our posts and 134 pages, I'll go online and will make every single posts of the blog visible to everybody.

 

[Britintexas]

Hi Victim

The loss of the previous posts are nearly immaterial. The main question is "how do we get our money back from IMGG"? This should be our focus.

How do I access the blog?

Regards

Britintexas

 

[norman1950]

Please include me in on any Metro Tower, City of arabia post
Norman

 

[towers]

Metro Tower is Officially Cancelled

Dear All,

Today news is that the Metro Tower is officially cancelled. According to one of The CAIG's members, DLD has finally announced the Metro Tower as cancelled. They had given IMGG a chance to rectify and an ultimatum till Sept. 15th, 2013 to come up with the right plan to satisfy the investors.

Now the money in the escrow is frozen and the case is at the real estate court. You may contact RERA/DLD for further news

I phoned Rera to confirm the above that if metro tower has Been cancelled the have confirmed Metro tower has been officially been cancelled .

I and M tower is under cancellation but has not yet been announced it had been officially cancelled.

Please Phone Rera/DLD and find out self .

This great news now to get are money back with the interest they owe us for the 7 years of delay

 

[norman1950]

Metro Tower, not cancelled

I rang Rera again this morning from the UK and was told again that Metro Tower has not been cancelled but is still 'under cancelation'.

The Trust account has been frozen and DLD are awaiting information from IMG before the next stage.

Very disappointing news and more delay.

Norman

 

[towers]

Well am very confused when I rang I was told Metro has been cancelled and I and M tower was under cancellation. Who the hell nos what's going on l ,If I ever get my money back ,Dubai will the last place I ever go to.

 

[The Master]

Refund of deposite

Dear all Investors

Does anyone have definite confirmation that Metro Tower has been cancelled and if so how do we get our money back? do we need to go to court? or can we just contact RERA and ask for a refund of our deposit.

Has anyone contacted RERA or DLD or the Bank to enquirer how we would be refunded?

Is the refund automatic?

Also there is the question of has IMGG paid all of our deposit in to the escrow account or just part of it?

ALL friends please keep in touch as this is the only way we can all help each other out in our main goal of recovering our deposits.

I would like to hear back from all of you and if you know any other investors please advice them that the old thread (forum) has been erased and that they should post on this new thread (forum).

Regards to all.

Master

 

[norman1950]

The latest situation as I see it.

The information I had this week from DLD liquidation team is I think fairy strong they say that Metro Tower is still 'under cancelation' not 'cancelled' as previously suggested.

If Metro Tower is cancelled you, and I, will have to then go to Dubai real estate court with invoices , contracts etc and present them to the court.

Nothing in Dubai is automatic, even if and when Metro is cancelled there will be work to do, a problem for me as I am in the UK

The escrow account came into being in 2007, however I had already paid substantial amounts into the IMG account before this. DLD seem to suggest on their information pages that any money paid for an off plan development has to be transferred into the escrow account even if payment were made prior to 2007.

I am sure that if and when Metro is cancelled it will be interesting to see what remains in the escrow account.

Again as far as I understand, if Metro is cancelled then the developers or the court should pay money back to investors within 14 days any deficit after the escrow has been used should be paid by the developers within the next 60 days, or a further date depending when DLD/court organise.

So I think there is a long way to go yet, but I am praying that Metro gets Cancelled soon.

As you will be aware Dubai has just set up a new liquidation group with the intention of streamlining cancelled projects, lets hope this helps our problems.

Norman

 

[FlipItFast]

Cancellation? IMG plan to restart the Mall of Arabia project:

IMG Group seeks builders for Dubai’s Mall of Arabia | The National

No specific mention of Metro Tower or Wadi Walk, but IMG have hired a British head of Marketing, Adam Page:
Quote:
“The market has changed a lot and the master plan of City of Arabia has changed as well,” Mr Page said.

City of Arabia has restarted work on residential properties, and its Wadi Tower is almost “90 per cent complete”, he said. “A lot more people are settling in Dubai and demands for towers and villas are very high.”

The first Wadi Tower apartments are due to be handed over by the end of this year.

The City of Arabia master plan would further change if Dubai is successful in attracting the Expo 2020 bid, Mr Page said. The announcement for the winning bid is due on November 27.
End quote

 

[TCU LUX]

Back In Action

Thanks for restarting this thread!

I was wondering where it had gone.

Any chance of getting the old posts back - so that everyone can be reminded of the IMG's shocking treatment of it's investors during the past 7 years... :banghead:

Regards to all and let's try to keep this thread up to date with lots of comments.

TCU

 

[The Master]

dear all

any news? what is happening , can someone in dubai go to RERA and find out what is happening, is metro tower, waldi walk and other towers cancelled or what?

can some please give one clear answer?

 

[norman1950]

The best information I have is from Rera Liquidations department, I have spoken and written to a Mr.Saeed who works in that department and according to him Metro Tower is still classed as 'under cancelation'. I feel confident after speaking with him that this is the current status of at least Metro Tower.
I am not sure how long a project can be deemed as 'under cancelation' before it actually get 'cancelled' tried to find this out but no real answers, I would imagin that it cannot be totally open ended, they either have to reinstate the project or cancel.
IMG seem to be pushing a change of emphasis in their latest promotion of City of Arabia, it now seems weighted towards entertainment rather than residential, just my opinion.

Norman

 

[City of Arabia's Victim]

Right and countable info. on CoA

Dear all,

I'm going to travel to Dubai in 10 days. I plan to go to RERA's, DLD's, Real Estate Court as well as IMGG's office. I'll be actually figuring out "what's what".

I'll provid everybody with the right and solid information after I'm returned.

Best,

On behalf of The CAIG
The City of Arabia's Investor Group

The Victim

PS: You can join our blog by sending email to me.

[email protected]
cityofarabia.blogspot.com

 

[norman1950]

Good luck with the visit, please have a look at the article I posted today on CAIG, might be a good idea to take with you what the article suggests.
I have been dealing with Rera's liguidations department and a Mr Saeed, he seems OK
Look forward to hearing your feedback

Norman

 

[City of Arabia's Victim]

Good luck with the visit, please have a look at the article I posted today on CAIG, might be a good idea to take with you what the article suggests.
I have been dealing with Rera's liguidations department and a Mr Saeed, he seems OK
Look forward to hearing your feedback

Norman

Yeah, I initiated posting the Url in facebook myself!

 

[The Master]

Hey everyone

Does anyone have any updates, according to the RERA website the project is still up running and progressing, LOL what a joke.

Can someone please contact RERA and see what is happening, I tried calling but kept going to some message in Arabic, don’t know why, has anyone tried to contact IMGG to see what is their response? Have IMGG confirmed that the project is cancelled. I saw that they have start work on the entertainment centre, is it not strange as soon there is some talk about cancelling the towers they start building something to fool people in to believing that they are still progressing in construction.

IMGG were the shadiest company any one can deal with, my GOD I regret the day I step in to their offices and they have treated all of us like fools with no voices.

I say enough is enough, keep calling rera and keep pressing rera to cancel the project or set some construction plan that IMGG has to stick to, otherwise I do not see us getting our money back or ever seeing our dream homes in Dubai.

NO ONE WILL HELP US, we need to help ourselves.

 

[towers]

Can anyone confirm what am going to post below its from Facebook city of arabia group .


Divya Shetty ▶ City of Arabia's Investors Group
30 October at 00:36 near Abu Hail, Dubai, United Arab Emirates ·
Hi guys...just got off the Phone with DLD. I &M TOWERS is officially canceled and the case has been referred to in the real estate court. Ive been given the court number to follow up directly with them on the status.


Can anyone confirm if this is true