status in UAE

[sgaur]

I bought property in UAE from a developer. I am overseas investor. I paid 50% of the property and defaulted in 2009 after property market crashed in UAE. Please note that I have not taken any loan from any bank in UAE or I have not paid any advance checks to developer. Now, I want to come to UAE for official purpose. I am afraid that developer might not have taken an action against me and I will struck in UAE while going to immigration. I did not receive any summons or instructions from lawyer about filing case against me.

I just want to enquire if there is any case filed against me. Is there any Dubai government website to check that? Would appreciate if somebody will let me know.

 

[BobbytheBuilder]

I bought property in UAE from a developer. I am overseas investor. I paid 50% of the property and defaulted in 2009 after property market crashed in UAE. Please note that I have not taken any loan from any bank in UAE or I have not paid any advance checks to developer. Now, I want to come to UAE for official purpose. I am afraid that developer might not have taken an action against me and I will struck in UAE while going to immigration. I did not receive any summons or instructions from lawyer about filing case against me.

I just want to enquire if there is any case filed against me. Is there any Dubai government website to check that? Would appreciate if somebody will let me know.

Are you mad. If I was you I wouldnt even fly over the UAE incase the plane had to make an emergency landing. If you get stopped for this offence you will be doing some bird.

 

[shazy]

Nothing will happen to you . You have lost money and no the developers have not gone to court i assure we defaulted on several properties an go to dubai often nothing happens.

 

[BobbytheBuilder]

Nothing will happen to you . You have lost money and no the developers have not gone to court i assure we defaulted on several properties an go to dubai often nothing happens.

How do you know that you developer acts exactly the same as Sguar developer? Looks what happens to you in dubai if you issue a dodgy cheque.

 

[shazy]

How do you know that you developer acts exactly the same as Sguar developer? Looks what happens to you in dubai if you issue a dodgy cheque.

It is the same for all developers if you default you loos all paid monies end of especially if they havent started or not done as they the developers has said with regards to time scale etc.....

A bounced cheque is a complete different thing as you are defrauding to pay when you know you don't have the money to honour it .

 

[Tha Spy]

Still waiting for The Cube in sports city to be built. Over 6 yrs since they started. I am with the Cube action group and are persuing legal action in UAE and germany.We are getting nowhere fast! I will never visit the UAE again because of the crooked way the Government allows unscrupulous, so called developers, cheat and steal money from investors. Others have had property finished but now live in a building site. The government has plenty of money to get these projects finished,but turns a blind eye.

 

[james-powerhouse]

To cut a long story short you must get in contact with the developer you signed the MOU with, was it a cash buy? If you cannot get answers there contact RERA.

 

[Tha Spy]

The developer is being pursued in Dubai and Germany.He will be arrested if he goes back to Dubai.We have visited RERA and pursued Tanmia solution. No answers yet.Thanks for the reply.

 

[clarkd384]

I think you should not worried much about it. Stay cool and try to collect all the legal documents you got from the developer. I am not sure but I think before discussing with them you should inform the local police station and can claim.

 

[james-powerhouse]

How did you default on the purchase/investmant

 

[Tha Spy]

Yes the police have been informed, I have not defaulted on the payments at all.Many investors paid 100% to obtain an 8% discount. The Cube will be built one day as Dubai want the2020 or 2024 olympics, unfortunately I will be dead by then!!

 

[Banofee]

Out of interest, what will the police do in matters like this, anyone tried? I'm not so sure the Olympics will ever come to Dubai, that was just some sales pitch to get people interested.

 

[bytes5]

Hi Tha Spy,
I visited Dubai Sports City a few days ago. I saw the Cube. It seems to be in a great location next to the stadium. What did Tanmia say, are they likely to help get the Cube back on it's feet? The building on the website looks really good too. As you say with expo2020, if Dubai wins that construction should pick up ?

 

[Tha Spy]

Tha Spy

The reason for buying in The Cube was because of its close location to the supposed 3 stadiums. We also wanted a return on our investment and also looked forward to one month in the sunshine free of charge each year. The man responsible for the whole project was a german man whom we suspect used the money invested in The Cube for other ventures. A court case has been filed against him in Dubai and Germany where his company is by our group of 8o investors. We will not give up pursuing this man until we see it finished but that will take forever as arab law is not like ours and 6 years since we invested we still see a 20% finished project.

 

[bytes5]

If this man has taken the money and left Dubai then I guess the Dubai Courts won't be able to do an awful lot ? not sure about the German courts ? Can't you go to RERA and try to get it on Tanmia plan and get it refinanced ? or do they have to agree that with the developer who has left ...

 

[Tha Spy]

If this man has taken the money and left Dubai then I guess the Dubai Courts won't be able to do an awful lot ? not sure about the German courts ? Can't you go to RERA and try to get it on Tanmia plan and get it refinanced ? or do they have to agree that with the developer who has left ...

Yes the man is out of Dubai and will be arrested if he returns.We are going through the German court but, even if found guilty we will get no return on our cash so that is only getting revenge. We have other people willing to finish the project but other legal matters of the first loan to the project,stop this happening for the time being. It is very complicated but we have some very clever people in the group. We are still following the Tanmia line and have been to RERA.Lots of alleys to follow and guess we will get there in the end as Dubai want the games and thin gs are getting better in the U.A.E. financially.

Thanks for your reply..

 

[bytes5]

So this guy conned a UAE Bank out of money too, for the first loan ? I don't think he will be back in Dubai in a hurry.
But, it sounds like you guys have things under control. Good luck with everything, I hope you get justice in the end. The cube looks like it will be an amazing building if it ever gets built. And I don't think there are any hotels in DSC yet so if it ever gets built should do well.

 

[Tha Spy]

Many Thanks...The new airport is only 15mins away as well so as the only hotel in sports city it will also have overflow from delayed flights etc.
Cheerio..

 

[bytes5]

Motor city seems to be completed and has some sort of community feel about it now and I think that project started the same time as Sports city, but I guess they have far fewer buildings...


I'm kind of surprised with how slow DSC is developing in general. I think the shopping areas in DSC are all on hold too. I thought with things picking up why is the government not spending money to fix up existing projects like DSC (which have international exposure with the cricket stadium hosting various events) instead of announcing massive new projects like the Rashid City.

 

[bytes5]

Hi Tha_Spy,

I heard that The cube might have got accepted on the Tanmia program. Is the Cube now going to resume development ?

 

[Tha Spy]

We are hoping that come mid February another investor/constructor will be found and the building taken away from the thief.
With all the other developments in the sport city ready for new investors, now is the time to get in on the act with rents already rising and construction being restarted. We live in hope but think it will still take a while. Meanwhile if I could sell my investment I would because I am now too old to enjoy what was a sound investment.