T
The Master
New Member
Can you please tell where you got this information from?
Also any news about the Metro Tower and wadi wakl?
Also any news about the Metro Tower and wadi wakl?
T
The Master
New Member
Dear all investors
I called rera and they confirmed that metro tower is under cancelation and IMGG has until end of September to negotiate or appeal, so I guess the project will be cancelled officially soon. However the man I spoke to at rera said it is still not certain and depends on number of people who contact rera. So call and email rera and request the cancellation. You can email rera on liquidation (at) rera.gov.ae and info (at) dubailand.gov.ae
If you do not contact rera you may lose your deposit as you have 3 months from date of official cancellation to request that your money be refunded. I suggest you email rera right now and ask that the project be cancelled and ask for a refund.
I called rera and they confirmed that metro tower is under cancelation and IMGG has until end of September to negotiate or appeal, so I guess the project will be cancelled officially soon. However the man I spoke to at rera said it is still not certain and depends on number of people who contact rera. So call and email rera and request the cancellation. You can email rera on liquidation (at) rera.gov.ae and info (at) dubailand.gov.ae
If you do not contact rera you may lose your deposit as you have 3 months from date of official cancellation to request that your money be refunded. I suggest you email rera right now and ask that the project be cancelled and ask for a refund.
T
The Master
New Member
Dear all investors
Does anyone have any further information about the progress of cancelation by rera?
Does anyone have any further information about the progress of cancelation by rera?
T
The Master
New Member
Any progress
Do you have any information following your trip to Dubai ???
Dear sir
Do you have any information following your trip to Dubai ???
T
The Master
New Member
Wtf
What has happened to all investors how come no ones posting any more
If we dont help each other whos going to help us? IMGG? RERA?
What has happened to all investors how come no ones posting any more
If we dont help each other whos going to help us? IMGG? RERA?
B
Britintexas
New Member
It appears that most people work in spurts and then the weight of this bad situation takes over and enthusiasm dissipates. I think everyone (including me) is waiting with baited breath for a report of The Victim's trip to Dubai. I am prepared to fly to Dubai from Texas if there is a chance of getting my money back but it would be good to get the latest ground truth from someone who has visited all the parties involved in this sorry affair. Come on Victim - please provide a report on your trip to the Sandpit.
N
norman1950
New Member
I entirely agree with the last post from Britintexas I too am waiting for The Victim to give us an up-to-date report as he promised. The picture remains very unclear although I think Metro is still 'under cancelation'. I keep writing to my contact in Rera in liquidation's but he is not replying to phone or email. Its all very frustrating after a flurry of activity that seemed to suggest that Rera may cancel the project.
Norman
Norman
A
annabella
New Member
I have also invested in 2 office es of I & M Tower and my money is also stuck. As far as I am aware these projects are not cancelled, still on hold. As I m a resident here I can see the property market is on the rise and especially with expo2020 most of the developers are resuming their projects. I feel that CAIG will also eventually decide to restart the project.
T
totallyproperty
Administrator
Staff member
Hi Annabella
First of all welcome to the forum.
I recently read somewhere that the Dubai authorities were introducing new laws to protect investors - is this happening and is it helping?
Regards,
Mark
First of all welcome to the forum.
I recently read somewhere that the Dubai authorities were introducing new laws to protect investors - is this happening and is it helping?
Regards,
Mark
I
investors
New Member
do u have some update picture from metro tower ??????
i called yesterdat to mr.terence (imgg) ,he said me that there is any construction plan for metro tower in 2014
((((((((((((((((((
wadi walk is ready at aug 2014 to moving.
i called yesterdat to mr.terence (imgg) ,he said me that there is any construction plan for metro tower in 2014
((((((((((((((((((wadi walk is ready at aug 2014 to moving.
N
norman1950
New Member
Another year comes to an end with no resolution about the future of Metro Tower and I and M.
These projects are still 'under cancelation' even though the Escrow accounts have been frozen and the deadline set by Rera of late September this year for IMG to come up with a credible plan for the future has long past.
I was hoping that the new body appointed by the government to speed up liquidated projects might of started to meet by now, but this seems not to have happened. In the meantime Dubai has won the Expo bid for 2020, the result I am sure will be increased construction and a gradual increase in prices for prime locations, all of which as investors we are missing out on.
All this time and we never hear from IMG, no letter or email informing investors what the current situation is, maybe they will start constriction, maybe Rera will 'cancel' the projects. Its all a mess, and its been a mess for a long time, and all this time they have our money!
While there are a lot of angry COA investors out there very few do anything or write anything on the site, I am wondering what is the point of such a forum?
Norman
These projects are still 'under cancelation' even though the Escrow accounts have been frozen and the deadline set by Rera of late September this year for IMG to come up with a credible plan for the future has long past.
I was hoping that the new body appointed by the government to speed up liquidated projects might of started to meet by now, but this seems not to have happened. In the meantime Dubai has won the Expo bid for 2020, the result I am sure will be increased construction and a gradual increase in prices for prime locations, all of which as investors we are missing out on.
All this time and we never hear from IMG, no letter or email informing investors what the current situation is, maybe they will start constriction, maybe Rera will 'cancel' the projects. Its all a mess, and its been a mess for a long time, and all this time they have our money!
While there are a lot of angry COA investors out there very few do anything or write anything on the site, I am wondering what is the point of such a forum?
Norman
City of Arabia's Victim
Member
RERA-Dubai Court, Metro & I&M Towers
Dear All,
- According to RERA, Metro Tower is classified in "Under Cancellation" category and still not 100% cancelled.
- All investors (Metro and I&M Towers) must submit their documents to the Real Estate Court in Dubai, either themselves or their Reps. (having a power of attorney).
- No further progress has been made on these two towers. Instead, IMGG is concentrating on the Entertainment Projects.
- Please be aware, there is a trend in Dubai that developers are announcing their projects as cancelled in local newspapers and they ask if investors have any objection to the alteration plans. Then at the same site they start introducing/constructing another project(s),if investors did not have any objection within 10 days of the second advertisement.
What you need to do for the time being are as follows:
1- Call RERA and try to push them toward total cancellation of Metro & I&M Towers.
2- Go to Dubai (or send your Rep.) and submit your ownership docs. to the court. (First you need to go to RERA, then they refer you to the court. This is a must. There is no first comes first serve rule and RERA-Court confirmed to me that they will enforce IMGG to refund our investments in full. For any compensation you need to litigate separately.
3- Send IMGG (Cc to RERA/DLD) an official notice of your objection to any alteration on the original plan. State that you will NOT accept any alteration or transformation unless otherwise you have clearly stipulated and they have your written consents.
Unfortunately I couldn't take any photos, but as said, nothing's changed on the towers site; a new steel structure is seen on the site, however I couldn't distinguish whether it is being built on the same spot as Metro and/or I&M Towers' or not.
Act now if you don't want to regret in future.
Best wishes,
The Victim
Dear All,
- According to RERA, Metro Tower is classified in "Under Cancellation" category and still not 100% cancelled.
- All investors (Metro and I&M Towers) must submit their documents to the Real Estate Court in Dubai, either themselves or their Reps. (having a power of attorney).
- No further progress has been made on these two towers. Instead, IMGG is concentrating on the Entertainment Projects.
- Please be aware, there is a trend in Dubai that developers are announcing their projects as cancelled in local newspapers and they ask if investors have any objection to the alteration plans. Then at the same site they start introducing/constructing another project(s),if investors did not have any objection within 10 days of the second advertisement.
What you need to do for the time being are as follows:
1- Call RERA and try to push them toward total cancellation of Metro & I&M Towers.
2- Go to Dubai (or send your Rep.) and submit your ownership docs. to the court. (First you need to go to RERA, then they refer you to the court. This is a must. There is no first comes first serve rule and RERA-Court confirmed to me that they will enforce IMGG to refund our investments in full. For any compensation you need to litigate separately.
3- Send IMGG (Cc to RERA/DLD) an official notice of your objection to any alteration on the original plan. State that you will NOT accept any alteration or transformation unless otherwise you have clearly stipulated and they have your written consents.
Unfortunately I couldn't take any photos, but as said, nothing's changed on the towers site; a new steel structure is seen on the site, however I couldn't distinguish whether it is being built on the same spot as Metro and/or I&M Towers' or not.
Act now if you don't want to regret in future.
Best wishes,
The Victim
T
The Master
New Member
Dear CAV
good to hear back from you.
It is unacceptable that RERA are taking so long to make a decision in these projects. I think the next path of action would be a joint complaint to RERA to hurry the process up, how could it take nearly 6 months.
I can prepare the complaint letter or you can do it and have all investors sign it and post, fax and email it to RERA.
Please reply to my post so we can take constructive action in 2014.
good to hear back from you.
It is unacceptable that RERA are taking so long to make a decision in these projects. I think the next path of action would be a joint complaint to RERA to hurry the process up, how could it take nearly 6 months.
I can prepare the complaint letter or you can do it and have all investors sign it and post, fax and email it to RERA.
Please reply to my post so we can take constructive action in 2014.
T
The Master
New Member
I would like to hear from other investors also with ideas.
I
investors
New Member
city of arabia or pee pee of arabia
metro tower = desret and sand.
it is only 6% complete after 7 year
we need another 93 years .in 2107 it will be complete (perhaps)
metro tower = desret and sand.
it is only 6% complete after 7 year
we need another 93 years .in 2107 it will be complete (perhaps)
N
norman1950
New Member
It was good to hear from The Victim, thanks
I also like the idea of sending a letter to Rera with a number of disgruntled investor signatures, I would be happy to sign something.
I spoke to my contact in Rera liquidations, Mr Almechariri Saeed (00971 4222 2253),yesterday. The situation remains that Metro Tower and I & M Tower are classed as 'under cancelation'. I asked why these projects had not been cancelled as Rera had given IMG up until the end of September 2013 to put forward an alternative plan of action.
He said that the liquidations dept were not currently involved as the matter was now with the Rera Registration department as the project might get cancelled or, his words, 'reinstated'. I pressed him to give me a time scale but he could not. I asked for a telephone contact for Rear Registration (00971 42030555) but no one was picking up the phone when I rang.
I also tried to speak to IMG's CFO Mr. M Adnaan and booked a call through his secretary, Linda, but was unsuccessful, I will try again.
Any pressure we can put on Rera will I think be valuable, my understanding of the situation is that IMG are currently trying to offer a suggested alternative for the two towers with plans and suggestions going back and forth to Rera. Mr. Saeed also mentioned that a number of plots are currently being auctioned off in Dubai and who knows this might be an option for IMG, this is me guessing.
It seems to me that the location of City of Arabia is reasonable good when you look where the Expo 2020 site is situated.
Once again we will have to wait, but sending letters to Rera etc, is an excellent idea.
Norman
I also like the idea of sending a letter to Rera with a number of disgruntled investor signatures, I would be happy to sign something.
I spoke to my contact in Rera liquidations, Mr Almechariri Saeed (00971 4222 2253),yesterday. The situation remains that Metro Tower and I & M Tower are classed as 'under cancelation'. I asked why these projects had not been cancelled as Rera had given IMG up until the end of September 2013 to put forward an alternative plan of action.
He said that the liquidations dept were not currently involved as the matter was now with the Rera Registration department as the project might get cancelled or, his words, 'reinstated'. I pressed him to give me a time scale but he could not. I asked for a telephone contact for Rear Registration (00971 42030555) but no one was picking up the phone when I rang.
I also tried to speak to IMG's CFO Mr. M Adnaan and booked a call through his secretary, Linda, but was unsuccessful, I will try again.
Any pressure we can put on Rera will I think be valuable, my understanding of the situation is that IMG are currently trying to offer a suggested alternative for the two towers with plans and suggestions going back and forth to Rera. Mr. Saeed also mentioned that a number of plots are currently being auctioned off in Dubai and who knows this might be an option for IMG, this is me guessing.
It seems to me that the location of City of Arabia is reasonable good when you look where the Expo 2020 site is situated.
Once again we will have to wait, but sending letters to Rera etc, is an excellent idea.
Norman
City of Arabia's Victim
Member
Joint Complaint to RERA
Definitely. This could be a very good action we need and must to take. Please prepare the draft and let everybody take a look and then we sign and send it to RERA/DLD. I suggest we do this in our blog, when finalized put it here as well.
A
arash 64
New Member
Dear all,
I do agree with you, we should prepare a complaint letter, and try to contact other investors and ask them to sign
I do agree with you, we should prepare a complaint letter, and try to contact other investors and ask them to sign
L
Lional
New Member
It is unacceptable that RERA are taking so long to make a decision in these projects
Yes i would like to sign The complaint letter as soon it s ready
Yes i would like to sign The complaint letter as soon it s ready
