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Happy new year to you all for the RR and KR developments from MED. Have you guys made any contact with MED recently - last 2-3 weeks? I've been calling and sending emails but have no response. Has MED gone bust? Any resident in Dubai who is willing to do a drive by and check if MED is still in...

So, Sven, what's the scene down in Dubai? Managed to speak with MED? Regards M

Any of the employees from TLG or Al Riyami who have been reading these posts would know by now that Mike Stewart is pretty bad for their business. :typical: So perhaps it is time to come clean and let us know whose side are you guys on? - the clients? or the Developers? or just taking our...

General background reading for you all: http://www.legal500.com/c/united-arab-emirates/developments/22882 EXECUTION The successful party must now seek to have the award enforced by the Execution Court. The Executive Judge will ask the Defendant to pay up within 15 days, failing which the...

Thanks Sophielse for sending the attachment. Based on the document, the Arbitrator has asked MED to repay the investor in full, and in addition, legal costs and 6% int for delays. This letter was dated Jan 24th 2014. What power does this letter (and the cost of getting that far) carry in the...

The question is: - Has any investor been paid back their investment? - How long did it take? - What were their circumstances? (project cancellation? 50% completion? change in SPA?) If a class action can be won (and with money back guarantee),then 100's and 1000's of investors are going to...

Please could you send me a copy too at mike.stewart7575(at)y.a.h.o.o.com Thanks M

Thanks but I won't be too disappointed if there is no response, or if the response is inadequate. Regards M

Page 57, The Economist 1st Aug 2015. "Dubai Residential-property prices are expected to fall by 10-20% this year, amid worries about an excess of supply" Cheers!

Hi London Buyer I am an investor in another property in Dubai but have been looking for good legal option to bring against the developer and get a full refund. Are you able to let me know if you have a strong, experienced legal contact in Dubai? The key is to force the developer to pay...

In response to Sophielse's correspondence with TLG: It is going to be very interesting to see what the response is going to be to the following key questions: -"what you considered to be a successful outcome ?" - A very key question! Thanks - "We are unsure as to if we don’t pay this our...

You are correct, in my opinion, but here is what I think - having paid and signed a SPA originally (when MED sold us the unit),does not make us "illegal owners". We are investors, in a property which is to be delivered with certain specs and run according to agreements as a hotel-apartment...

My two cents - hold off from paying any money to the law firms. No one as yet has gotten refunds for clients. You'll get the same response as everyone else, including myself, got - "Pay more and we will get you an arbitration, and force MED pay you back". that is all. This itself will take 2...

To the Forum Admin: Please could you make this thread 'sticky'? Property investments is all about profits, and if there is no profit in Dubai properties, it should be made public, in the interest of consumer protection. We are not talking about "cheap defective made-in-china baby products"...

Thanks Sven for letting us know. I hope you are not planning to go to MED office, un-prepared! The office (Ioana Nica) is very well rehearsed, but also has nearly no power to make any decisions. I hope you meet with someone more significant, and bring back some real proper news. Cheers and...

Hi Sven, If you are currently in Dubai, it can be of some practical help. 1) You can make appointments and personally meet up with any one of the several Law firms who are known to handle cases against MED. TLG is one of them. They claim to have won cases for investors against MED. It might be...

Hi Sven, The compensation clause of 0.5% is applicable if you have paid the asking price, in full. Have you paid in full? Legally, MED can compensate to some extent, and deliver late, and that is what they would do. A refund might be out of question for you, as it is too late in the completion...

As far as Legal action is concerned, there are a few posts in this forum in regards to contact details of lawyers, but I would exercise caution as there are several inexperienced ones who are going to charge you with consultation fees and not really move you case forward. As I have mentioned...

Hi Sven, Welcome to the forum. When you purchased your flat, were you offered several choices of units to pick from? The reason I ask this is because it gives us an idea of unsold units that MED is probably desperate to sell. Also, you purchased a unit in 2014, when MED might have...

Hi, Thanks for the information, but as you mention, these are rumours. In the current climate in Dubai, rumours are not really helpful. I would be very keen on hearing from the lawyers (who are quite happy to take our money) to formalize the rumours, specially: 1) "huge fine being imposed for...