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Schon Properties - The Signet

Discussion in 'Dubai property' started by TommyC, Apr 20, 2009.

  1. TommyC

    TommyC New Member

    Urgent roll call for everyone that have invested in this project, send me a PM.
  2. naxal

    naxal New Member


    You might wanna have a look at this :

    Hi all,

    I am new to this blog. An ex-employee of schon who was terminated and denied final settlement, denied salary and denied all rights and the threat was "no NOC". I am not an investor unfortunately, so I may be blocked, I dont know how this works....but I have information that will benefit all investors to show them the reality of this company.

    I will be soon publishing very interesting documents and information about the company. I will be carrying out an extensive campaign to show how handover dates are changed through "mere emails" and how this management is playing with your money.

    To start with, the gentleman/lady who stated earlier in the blog that PLGC escaped with 600 million dhs of your hard earned money is correct....add to that PLGC's work done on site does not exceed 160 million AND PLGC's original contract with Schon was for 1 billion dirhams they already got 60% of their contract price...and is the site 60% complete???? So why did PLGC get all this money? Is it because its owner and Schon's chairmen are good friends (fact)? I wonder!

    RERA is giving Schon a very very very hard I dont think you need to worry about your money being spent unwisely. Schon's progress on site has been appauling and RERA realises this and is not releasing money to Schon. However, I donot know what RERA is planning to do to ENFORCE schon to complete the project in due course.

    Those of you who are planning to attend the site meeting, insist that you go on site. Bin Sabt is not on board as yet. In order that Bin sabt joins ... PLGC HAS to release the site through an NOC and this is something PLGC will not do easily....OOPS looks like the friendship is getting ruined here!

    I will be posting a list of the buildings that will not be constructed "according to the management's decision" and I will attach the latest Master Plan for you all to see. The cancelled buildings lie in zones 6 and 5. Investors who purchased in those buildings will be offered other apartments in other buildings...ofcourse no guarantee that they will have the same view or even the same area.

    Unfortunately, Dubai like any other growing country in the world has allowed good plants as well as weeds to bloom. Policies, procedures and many laws are still to be developed and enforced. It will take time to settle and for the waters to clear. But my personal advice....please STOP PAYING. STOP Dumping your money into their hands. Whatever you lost till now is enough. We are in a financial crisis and CASH IS KING....if you have cash keep it for you and keep it for your children.....dont hand it to these frauds who donot care about your families or your children or about your dreams of investing in a safe haven and leaving something behind for your kids as an asset or even making a little profit for yourself as an investment....
    Schon who donot care about their employees....if they are abusing the law like this for people like me who earn peanuts, then how do you think they will abuse the law with you investors who lay them golden eggs every month? Believe me if they can steal all your money and run away with it they would have done that ages ago...but unfortunately they fell into the big mistake of registering with RERA....because as you all know since this project is leasehold it is not required to be registered with RERA...but since they have mediocre legal staff and because the investors were probably endowed by the grace of god and luck that Schon went on and registered the project with RERA.

    I will be posting again soon....good luck to you is hard to loose money in these difficult times. "Stop Loss" needs to be adopted now....just like in the stock market.

    I have vowed when I lost my right that I will make them loose at least one investor....if I make only one of you stop paying, this is victory for me.

    One last thought, why do you think each project by Schon is registered under a company with different name? DL under TCML, SBP under Schon Investments Limited, Signet under Luxor investments limited, Schon suites under YRA enterprises!!!!! Why this mess? Ask your lawyers.......
    P.S. all these companies exist only on paper. Employees and Staff corresponding with you and management are all under Schon Properties Brokers. Read the signatures at the bottom of their emails:

    Schon Properties Brokers LLC is an exclusive sales and marketing agent for the above mentioned FIVE INDEPENDENT DEVELOPERS but not a partner in any of them, hence SPB accepts no liability whatsover resulting out of their business practice........

    OK so who accepts liability then...TCML? who is under TCML? NO BODY?
    please open your eyes and check your legal stance.
  3. TommyC

    TommyC New Member

    That's interesting reading, thanks!
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