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Investorslaw13 @ hotmail . com -> THE BALL STARTED TO ROLL ! GULF NEWS CONTACTED US !

Discussion in 'Dubai property' started by mohammedno11, Nov 17, 2008.

  1. mohammedno11

    mohammedno11 New Member

    Dear forum,

    today is the first day the ball starts to roll, thanks to all you effort we received today an email from Gulf News.

    They want to join us ! Lets see if it is serious !

    Please continue now even more to spread this email adress, if Gulf News will join us wenn we meet in front of the Land Department we will create even more public awareness.

    LETS JOIN FORCES !! CONTINUE TO SPREAD THIS EMAIL AND LET PEOPLE TO JOIN THIS FORUM !

    Our voice will be heard !

    Thanks for your support !!
     
  2. TommyC

    TommyC New Member

    That is seriously good news!! Count on me to spread the word! Good job Mohammed, I pray for you, as well as the rest of us, that we won't lose all our savings!

    As you've collected quite a few adresses, start sending emails about the progress to everyone to keep the momentum up! It would definately be encouriging if, once you sign up, you recieve an email about the progress. Anything we can do to attract more people!

    Thanks!
     
  3. kamadenu

    kamadenu New Member

    congratulations to all investors atleast someone is listening. I have just joined this forum and hope that this is a productive effort. I have just written in another thread that if rera can atleast include a law which would stipulate that all payment plans whether old or new contracts should relate only to construction there will be some confidence in the market even for resale or off plan as people will know that they have to pay only if they see any construction development. I have invested in properties where I have paid almost 30-40% and the construction is still a hole in the ground or not even reached the hole stage.
     
  4. TommyC

    TommyC New Member

    Yeah! And also, how about an interrim law saying no one can be cancelled during this total stop in mortgages?
     
  5. tkk

    tkk New Member

    This is great news. Tell us what should be the next steps. Should we make a formal petition and have it signed by all present. We must now get all our demands from RERA together and put them down coherently. But Mohammed if you keep starting new threads we will not get the message in our emails.....we have to constantly keep checking on the forum.........so I request from now let us all keep posting on one thread please as I have to keep going backwards and forwards.

    Thanks
    Kumar
     
  6. Datum1m

    Datum1m New Member



    This is very good news, I have already sent you my email address and I don’t mind receiving mail direct from you on the very important subject.

    Regards

    Nigel
     
  7. Roshan

    Roshan New Member

    Excellent work. Congratulations on the effort. Where there is a will, there's a way.

    Regards

    Roshan
     
  8. TommyC

    TommyC New Member

    Absolutely! And we're getting to be more by the day, this could be really interesting, as it currently is a race between developers wanting to cancel buyers and investors trying to make deadlines or at least secure Law 13 to deter the developers eager cancellations. It's sick, really, there's no humanity.

    Full speed ahead!
     
  9. sasherwani2

    sasherwani2 New Member

    This is great news... I sent you an email 2,3 days ago on this. It's time for a proper meeting.
     
  10. ht_1

    ht_1 New Member

    great work guys. please count me in
     
  11. tkk

    tkk New Member

    After going through all our postings on all threads re. Law 13 I have listed following Main Points to be discussed with RERA re; Law 13. Please add your viewpoints to this list

    • All contracts, registered or not, before and after law 13 was issued should covered by the law
    • all payment plans whether from old or new contracts should relate only to construction and there should be strict panels checking out all development activities.
    • The developer can only forfeit 30% of the total payments of the purchaser and needs to refund the balance 70% in case of default by the buyer.
    • Vice versa, the developer should be penalized by an amount equal to 30% of the payments made if he cancels the project
    • The developer should be penalized equally in case of delays in project just as the buyers are penalized for late payments
    • An interim law saying no contract can be cancelled during this total stop in mortgages

    • Alternate Solution: Cancel and Postpone far off and mega projects; for example, all things waterfront, mile high towers, trump etc. Now is not the right economic climate for pie in the sky ideas. Issue credit notes for investors who bought in, let them buy in projects less ambitious and closer to completion.

    and Sasherwani is right...it is time we all meet and brainstorm

    regds
    Kumar
     
  12. TommyC

    TommyC New Member

    Just a few of us will actually have an initial meeting tonight, nothing spectacular, just say hey and discuss some brief topics to make sure we got the momentum. Mohammed is in charge of this, and I'll him give out the invitations for everyone that has signed up on the mailinglist.

    SO ONCE AGAIN, MAKE SURE YOU CAN GET EVERYONE YOU KNOW THAT HAVE MONEY INVESTED TO SIGN UP! VERY VERY IMPORTANT! (Sorry for the caps, but I really stress how important it is!)

    Investorslaw13 @ hotmail . com <-- this is the email, it's administered by Mohammed, and latest report says there are 70+ signed up with total value closing in on AED 1 BILLION!! So even if you, like me, only have a in comparison small amount invested, I'm sure you don't want to lose it. So sign up, every guy that can send an email to the newspapers, to their friends, get the word out and is ready to fight for their own rights....THIS IS THE TIME!

    In my opinion, this are the most urgent matters:

    • Most urgent: Stop cancellations until market is settled and liquidity (mortgages) is restored
    • Payment plans to follow construction progress, or better from investors point of view. New payment dates only after approval from RERA after inspection of actual progress.
    • 70% refund on PAID money on default, developer might keep it until resale or cancellation of project to maintan liquidity during construction. Simply to protect investors and stop developers from gaining easy, unethical cash.
    • Once launched and sales started, if not announced construction plan is followed, fees are to be paid if delays exceeed a ceratin amount. Still payment plans will follow construction to protect investors from outstanding amounts.

    Law 13 applicable to ALL contracts, before or after the introduction.
     
  13. jennie1

    jennie1 New Member

    please aslo count me in. What do you need me to do. I work for an advertising agency and would like to help anyway I can.

    Jennie
     
  14. TommyC

    TommyC New Member

    First of all, send an email to: investorslaw13 at hotmail . com with som brief details regarding amount invested, contact number and general comments about the law.

    Second, I'm sure you got loads of connections through work, help spreading the word. We can only get somewhere if we are enough numbers, cash is king, and if we are enough people...our voice will be heard!

    Personally, I'm sending tons of emails and texts to newspapers, RERA, blogs, friends etc. etc. etc. Anything that can make all the frustratrated people around Dubai to realize something is going on so they can join up! Biggest problem is always to get the word out, the interest is there but no one knows where to look. Word of mouth is powerful! Great to have you here! :)
     
  15. defc0nx

    defc0nx Banned

    Count me in!! .. I just emailed my info.
     
  16. TommyC

    TommyC New Member

    Great! One step closer to one hundred, be sure to make people in your surrounding aware as well, trying to spread the word as much as we can and the more people we can get the more we will have to say! :)
     
  17. TommyC

    TommyC New Member

    Update regarding progress on action for petition against recent Law 13 changes

    My apologies for starting a new thread with this info, as it was requested to keep it in one topic to make it easier to get informed about any updates :eek:

    As posted in http://www.propertyforum.com/forum/...n-petition-against-recent-law-13-changes.html here is a copy of the info, in the right place! :rolleyes:

    This very evening a few of us had an initial meeting discussion what is going on in Dubai, the property market and in particular how we, ourselves, can protect our rights as investors/end-users when we are all caught up in this shortage of liquidity and financing.

    We kept it simple to get started and it was very encouraging especially with the amount of people coming forward and sending an email to investorslaw13 @ hotmail.com (if you haven't already sent an email, please do so as soon as possible!).

    To get some structure and getting everyone under the same umbrella we simply tried to summarize what has been discussed on the forum lately and come up with a plan of action. We have a few ideas how to tackle it and as I'm sure there are a lot of talented, ambitious people around I encourage everyone to come forward with your ideas and comments and particular skills that might be of benefit. We're doing this to protect each other and our rights.

    Most of all it's important to spread the word to every frustrated investor out there so they know their is action in progress! So keep it up, and let's keep the ball rolling....it's rolling faster and faster by the day currently (for real, not in The Dubai Information Minister kind of way ;)). And as I've mentioned in a few other posts, the number of people on the mailing-list is over 70 right now with a total amount invested close to AED 1 bn!

    I know there is people in PR in here that have signed up, use any means you can (without risking your job of course, unless possible property loss makes up for it ) to get the word out! Anything is valid in our attempts to get the necessary attention to protect ourselves. The rest of us (like me) make us of all the means internet provides to spread information, send emails to friends/newspapers/colleagues, pick up the phone and text the ones you haven't spoken to in a while with some info, join other forums to get the word out about us, basically anything goes! We can do this together!

    As there is still A LOT of people out there that are not aware that we are gathering, be sure to spread the word! Maybe your colleagues, wifes brother has money invested, and also his friends, so be sure to tell everyone about this forum and also about the email-list managed by Mohammed at: investorslaw13 at hotmail dot com. Only we can protect ourselves in this matter, and we have already come a few very important steps along the way.

    Thanks everyone for helping us, I'm doing my best to do my part :)
     
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