Platinum One- Arjan ,ACW Holdings

[sami71]

Acw holding plutunum 1

I have a studio and one bed in Platinum one and two commercial units. I paid approx 1450 AED psf. Panorama said Dubai might be the next financial capital, let hope so!

new law of The Real Estate Regulatory Agency which introduced in 02/02/2009 is stating that developers can not ask more then 30%before construction starts. if the buyer paid more then 30% - then payments must be linked to construction stages..


I am investor as well with ACW Holding I INVESTED WITH HIM LAST YEAR IN GOOD FAITH I PAYED MORE THEN 30 PER CENT BUT I BEEN DECEIVER .
HE DECEIVING THEIR COSTUMER I BEEN IN DUBAI LAST MONTH AND ALL HIS PROJECT ARE NOT START AND HE COLLECT MONEY AND HE IS NOT PROGRESSING WITH ALL HIS DEVELOPMENT AND PRISE NOW IN DUBAILAND ARE 550 AED SQ FEET AND NO BODY BUY.
T Went TO RERA AND ONE OFF RERA OFFICER GIVE ME FROM OF NEW LAW AND HE SAID YOU DON'T NEED TO PAY IF PROJECT DOES NOT PROGRESS .
ACW HOLDING FINANCIALLY IN TROUBLED AND HAVE 6 PROJECT AND DON'T HAVE MONEY HE TRY TO GET MONEY FROM INVERTER WITH OUT DOING ANYTHING HE USED IN ADVERTISING AND PAYING STAFF AND BUY LAND.
HE DON'T HAVE FUND TO START PROJECTS .

I SAW THE EREA ARE JANEK AND DUST IS COMPLETELY DESERT I DON'T THINK IN ONE MOMENT THOSE DEVELOPMENTS WILL BE UP RUN UNTIL 2015 MAYBE .

I DON'T THINK WILL PROFITING AT ALL FOR 6 OR 7 YEAR IF YOU DON'T TAKE MY WORDS GO AND SEE WITH YOUR EYES
I JUST DON'T WANT YOU TO PANIC BUT I TELL YOU THE TRUTH .
I WILL ADVISE YOU DON'T PAY MORE MONEY UNTIL YOU REQUIRE TO SEE PROGRESS.
I AM FROM UK I TRUST HIM AND INVESTED MY MONEY I REGRET IT FOR ALL MY LIFE I WANT TO GET OUT FROM IT BELIEVE ME .
IF YOU KNOW MORE INVESTOR IN PROJECT PLEASE LET US UNITED TO PROTECT OUR INVESTMENT
I HOPE WE CHAT SOON

 

[sami71]

Hi,

ACW Holdings(a relatively new company) have put Platinum One in Arjan(DubaiLand) on for sale.

Does anybody know much about this new development or ACW in general? Theres not much about this on the net but it seems pretty good.

Cheers
Vin

I am investor with ACW Holding I INVESTED WITH HIM LAST YEAR IN GOOD FAITH I PAYED MORE THEN 30 PER CENT BUT I BEEN DECEIVER .
HE DECEIVING THEIR COSTUMER I BEEN IN DUBAI LAST MONTH AND ALL HIS PROJECT ARE NOT START AND HE COLLECT MONEY AND HE IS NOT PROGRESSING WITH ALL HIS DEVELOPMENT AND PRISE NOW IN DUBAILAND ARE 550 AED SQ FEET AND NO BODY BUY.
T WANT TO RERA AND ONE OFF RERA OFFICER GIVE ME FROM OF NEW LAW AND HE SAID YOU DON'T NEED TO PAY IF PROJECT DOES NOT PROGRESS .
ACW HOLDING FINANCIALLY IN TROUBLED AND HAVE 6 PROJECT AND DON'T HAVE MONEY HE TRY TO GET MONEY FROM INVERTER WITH OUT DOING ANYTHING HE USED IN ADVERTISING AND PAYING STAFF AND BUY LAND.
HE DON'T HAVE FUND TO START PROJECTS .

I SAW THE EREA ARE JANEK AND DUST IS COMPLETELY DESERT I DON'T THINK IN ONE MOMENT THOSE DEVELOPMENTS WILL BE UP RUN UNTIL 2015 MAYBE .

I DON'T THINK WILL PROFITING AT ALL FOR 6 OR 7 YEAR IF YOU DON'T TAKE MY WORDS GO AND SEE WITH YOUR EYES
I JUST DON'T WANT YOU TO PANIC BUT I TELL YOU THE TRUTH .
I WILL ADVISE YOU DON'T PAY MORE MONEY UNTIL YOU REQUIRE TO SEE PROGRESS.
I AM FROM UK I TRUST HIM AND INVESTED MY MONEY I REGRET IT FOR ALL MY LIFE I WANT TO GET OUT FROM IT BELIEVE ME .
IF YOU KNOW MORE INVESTOR IN PROJECT PLEASE LET US UNITED TO PROTECT OUR INVESTMENT
I HOPE WE CHAT SOON

 

[sami71]

They are professional and I checked their registeration and Escrow account details on RERA website.

one suggestion: their contractual terms are not good. I feel many terms are favouring them instead the contract and reservation letter should be favouring both parties. So just take care on that part. But location and all looks good. They have lauch of platinum two in 26th. You can get more information from them in this launch

that true contractual are not good at all and the place are not develped at all there is only one bilding in dubailand

 

[sami71]

dear joe

can you share with us your purchase? Have you purchased an hotel appartment or office? And at what price.

Thanks

i have stido in plutinum one

 

[sami71]

Platnum 1

initially i have received the land registration fee as 1960dh. But recently acw is asking for further 1000dh for registration of sales agreement with dubai land department so, total of 2960dh. Is it the same experience for everyone.

have you find a buyer?

 

[sami71]

have you made your mind yet????

I'm still waiting to decide too.

My first payment is due and i don't want to pay untill i@m 100 % comfortable with platinum one/ acw reliability.

Thanks

have you invested yet with acw holding?

 

[sami71]

I am acw holding invester i want to know invester from acw holding ?

 

[sami71]

hi,

we also purchased in platinum one and have paid 50% so far. We were trying to negotiate the payment schedule and the revised schedule is not any better. Please can you update us on your progress? Number of off plan dubai projects seems to have reduced their purchase. But acw doesnt seem to reduce the purchase price. Let us know your experience.

hi, i am olso invester from uk i purchased in platinum one the prise in dubailand drop 50 per cent and the project is 2 per cent progress and we payed more then we should be take my word acw holding dont care about teir custmer and he will never reduce the prise.
With our prise we bought we can now buy 2 apprtament
if you want to keep in touch iwill give all dtails i was i dubai last month

 

[sami71]

Acw holding plutunum 1 invester

Dear JoeHolmes

I hope you will be doing well. I was reading the article, (threads have been provided at end of this conversation) and as per this article the construction costs in Dubai has been reduced by 70% since August 2008 due to reduction in steel and cement prices. I tried to negotiate with ACW holdings to pass on some discounts to customers also but they have refused and also there is new law in Dubai and as per this law the installments should be linked to construction. When I asked ACW holding to provide me a payment schedule matching with construction, they have provided a payment schedule faster than I already had.

I have paid 50% of total price of appartment and construction is not started as of yet. I am not sure about the basis they have provided me this schedule. Do you get new payment terms about your appartment and in case you get it, what are your payment terms? Are these faster than previous payments terms.

Do you know other investors in Platinum one so that we can put pressure on above both issue.

Please read the article below.

http://www.business24-7.ae/articles/2009/2/pages/02082009_1477193005e94e3e945c8c74dd85141e.aspx

I am investor as well with ACW Holding I INVESTED WITH HIM LAST YEAR IN GOOD FAITH I PAYED MORE THEN 30 PER CENT BUT I BEEN DECEIVER . I HAVE STOPED PAYMENT AND I TOLD TO RIRA ABOUT THAT .
HE DECEIVING THEIR COSTUMER I BEEN IN DUBAI LAST MONTH AND ALL HIS PROJECT ARE NOT START AND HE COLLECT MONEY AND HE IS NOT PROGRESSING WITH ALL HIS DEVELOPMENT AND PRISE NOW IN DUBAILAND ARE 550 AED SQ FEET AND NO BODY BUY.
T WANT TO RERA AND ONE OFF RERA OFFICER GIVE ME FROM OF NEW LAW AND HE SAID YOU DON'T NEED TO PAY IF PROJECT DOES NOT PROGRESS .
ACW HOLDING FINANCIALLY IN TROUBLED AND HAVE 6 PROJECT AND DON'T HAVE MONEY HE TRY TO GET MONEY FROM INVERTER WITH OUT DOING ANYTHING HE USED IN ADVERTISING AND PAYING STAFF AND BUY LAND.
HE DON'T HAVE FUND TO START PROJECTS .
I SAW THE ARJAN ARE JANEK AND DUST IS COMPLETELY DESERT I DON'T THINK IN ONE MOMENT THOSE DEVELOPMENTS WILL BE UP RUN UNTIL 2015 MAYBE .
I DON'T THINK WILL PROFITING AT ALL FOR 6 OR 7 YEAR IF YOU DON'T TAKE MY WORDS GO AND SEE WITH YOUR EYES
I JUST DON'T WANT YOU TO PANIC BUT I TELL YOU THE TRUTH .
I WILL ADVISE YOU DON'T PAY MORE MONEY UNTIL YOU REQUIRE TO SEE PROGRESS.
I AM FROM UK I TRUST HIM AND INVESTED MY MONEY I REGRET
IWANT TO GET OUT FROM IT BELIEVE ME .
IF YOU KNOW MORE INVESTOR IN PROJECT PLEASE LET US UNITED TO PROTECT OUR INVESTMENT
I HOPE WE CHAT SOON

 

[sami71]

Initially I have received the land registration fee as 1960dh. But recently ACW is asking for further 1000dh for registration of sales agreement with Dubai Land department so, total of 2960dh. Is it the same experience for everyone.

--------------------------------------------------------------------------------
I have olso received the land registration fee as 1960dh. But recently ACW is asking for further 1000dh for registration of sales agreement with Dubai Land department so, total of 2960dh. Is it the same experience for everyone
i am olso invested with ACW AND I HAVE PROBLEM WITH THEM
I AM FROM UK AND I AM LOOKING FOR OTHER INVESTER FROM ACW HOLDING TO JOIN TOGTER TO PROTACT OUR INVESTEMENT?

 

[sami71]

There are so many people in this forum who have purchased a appartments in building of ACW holding. Why don't we discuss together the problems we are facing so that everyone will be educated and we can put pressure on developer instead of pressure from developer. In future, we will have common property and it will be good for us if we stick together.

new law of The Real Estate Regulatory Agency which introduce in 02/02/2009 is stating that developers can not ask more then 30%before construction starts. if the buyer paid more then 30% - then payments must be linked to construction stages

 

[dubai dreams]

new member

I dealt directly with ACW holdings. You can get their email addresses from web sites. I am not going to pay next payment unless they will ensure the completion of 50% of construction.

if you dont pay according to thier payment can they add penalty charges also i have recieved an additional fee of aed 1000 for the land registery has anyone paid this could this be contested

 

[dubai dreams]

--------------------------------------------------------------------------------
I have olso received the land registration fee as 1960dh. But recently ACW is asking for further 1000dh for registration of sales agreement with Dubai Land department so, total of 2960dh. Is it the same experience for everyone
i am olso invested with ACW AND I HAVE PROBLEM WITH THEM
I AM FROM UK AND I AM LOOKING FOR OTHER INVESTER FROM ACW HOLDING TO JOIN TOGTER TO PROTACT OUR INVESTEMENT?

i am also from the uk and getting very worried do i pay the futher 1000dh as it is mention as a further charge can it be contested, do we contact rera diretly to verify. i keep getting reply that the developement is on track and will be completed by 2010. is this the case?

 

[dubai dreams]

I have letter from ACW holding which says the reason of reshcheduling the installments because of changes in law of installments linked to construction.

So this letter can be used at the time of next payment to ensure the 50% completion of construction.

did you speak to them directly or are they doing the same for everyone i have purchesed 1 studio at platinum1 back in march 2008 and have paid 50% could you post the letter pls

 

[dubai dreams]

--------------------------------------------------------------------------------
I have olso received the land registration fee as 1960dh. But recently ACW is asking for further 1000dh for registration of sales agreement with Dubai Land department so, total of 2960dh. Is it the same experience for everyone
i am olso invested with ACW AND I HAVE PROBLEM WITH THEM
I AM FROM UK AND I AM LOOKING FOR OTHER INVESTER FROM ACW HOLDING TO JOIN TOGTER TO PROTACT OUR INVESTEMENT?

i agree with you sami71 we need to know about the other projects acw holdings investers experiecences to get a clear idea of how financially affected they are i i have read they are a new developer i have visited thier office in leeds april last year. i spoke to mr Rahman the sales manager and put a reserve on a second app. at platinum1 but a week later cancelled because the payment for the two was too much. i'm glad i did cancelled

 

[dubai dreams]

Initially I have received the land registration fee as 1960dh. But recently ACW is asking for further 1000dh for registration of sales agreement with Dubai Land department so, total of 2960dh. Is it the same experience for everyone.

yes i have also recieved additional 1000dh on 28/4/09. it memtioned they require a prompt responce do we have to pay? can we get any reductional of the purchese as constructional cost is down by 70%

 

[sami71]

my Friends
if you have problem with acw holding send them this information by email or post is required by the law to not ask more payment and developer have not legal right to charge you penalty to investor ,ACW Holding want to apply more perisher to take more money because is fiancee troubled

Platinum One- Arjan

I am writing in regards to my investment. The 2009 law,

The Real Estate Regulatory Agency
2-2-2009 (R.E.R.A) states that developers can not ask for more than 30% before construction commences and

make it clear that if the buyer paid more than 30% - then payments must be linked to construction stages .

As you are aware I have paid MORE THEN 30% of the original price, which is more than I am expected to pay. I have withheld my payment because it has now been 15 months since project launch and I have not been inform about progress of my investement, I can see clearly from your website that this project is still under early stages of construction.
Would you provide in written format thorough details as to what stage of construction you are currently undergoing? I wish to undertake a review with a professional people from R.E.R.A in relation to my payments and to exactly how far the construction has got. Should they, the R.E.R.A, approve of the current progress I would be happy to resume payment to you.

 

[sami71]

To all investors with acw holding lets united all to be large force to protects our right and send letters to rera.

 

[lammy1978]

Hello all - I have now paid over 50% on my studio in Platinum One. Earlier in this thread I was informed by the Escrow Officer that providing construction work IS taking place at site, however minimal, investors are still obliged to make their payments as per the signed contract, as no new law linking payment and construction has actually been passed. Please could somebody post a link to this new law in full if it does indeed exist? Thanks, Lammy.

 

[Alfie]

ACW Investor

I am an investor and have bought ACW units in Hanover Square and Kensington Manor. I have paid the 1960 and the 1000 AED for both units. I think there is no way around these fees, hence why I have paid.
This fee is not a fee set by ACW but by RERA. It is another example of tax in this tax free society.
The RERA laws state that the payments have to be linked to construction and ACW have kindly adjusted my payment plan accordingly.
In my experience, ASW have actually been the best developer I have worked with (no I do not work for them - I am an investor like you all). They have been very reasonable. Yes they apply penalties if you pay late but that is their right and their prerogative. I would simply call them and try and discuss the issues with them . I have found them to be very reasonable and professional people.