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Discussion in 'Dubai property' started by djaan, Jan 8, 2009.

  1. ani3333

    ani3333 New Member

    Please dont be in any hope that ACI is gonna start Wings of arabia.Through my sources I got a news that 99% chances that ACI might cancel Wings of arabia .I guess all of us should get together and go through the legal proceedings as I am not interested in this project and jus want my hard earned money bak.
  2. djaan

    djaan New Member

    i was also in ACI office last month with no success and i think we will not see our money back because they dont have it.they used our money buying plots and now the prices have sunk so they can not sell them and building a plot is out of question.They are in debt of 500 mllion dirham only from investors in Germany
    so it will be defficult to take out our money from them if we go individually. if anyone want to form a group count me also in ACTIVELY

  3. needhelp!

    needhelp! New Member

    Hi all,

    I also purchased a 2bed in Wings of Arabia. I've followed up with them many times to try to find out when they will be starting the project but I keep getting told that they will start by the end of the current month! They seem to just be stalling me.

    They have told me I can exchange the money I have invested for another apartment in a different building but the prices are x4 higher than market price!

    what is everyone planning on doing? I am willing to join any group petition to the courts. Should we all meet up to discuss how to take this forward?
  4. DXB_Lawyer

    DXB_Lawyer New Member

    Hi guys, pursuant to my earlier post, the first step is to get together and draft a 'letter before action'. Once this has been done and sent by registered mail to the developer giving them a set period of time to respond, then further steps towards formal litigation of the dispute can take place.

    The letter is the first step, however, as it starts a paper chain that can be presented to the court.

    If anyone wants to discuss this please let me know and we can set up a call if you wish.
  5. djaan

    djaan New Member

    please tell us what will be your charges to write such a letter and first of all i think
    we must form a group of ACI (wings of Arabia)form and then elect one person
    who will lead the group and the others must follow him. so if anyone has any suggestion please write and we can also interact with each other in skype
    so waiting for your suggestions

  6. DXB_Lawyer

    DXB_Lawyer New Member

    I would need to see the relevant documents to give a more precise quote. However, I expect that a letter would be a 4-6,000 dirhams to prepare (depending on the complexity of the issues and the number of documents that we'd need to review). This would set out a specific list of questions to be answered by the developer and highlight how they are in breach of relevant laws.

    If no response is received within the given time frame (we usually allow 10 working days) then we notify the developer that we will progress the matter with RERA. In previous cases that I have dealt with, the developer will usually give some sort of reply and try to answer the questions posed to defend their position. The advantage of this is that it starts a dialogue with the developer and if they respond to the letter, it may mean that they're willing to negotiate in an attempt to settle the dispute.

    You could try to write such a letter yourself but, in my experience, the developer will simply ignore demands for refunds for indivudal investors without representation (remember they're probably getting tens if not hundreds of such demands). The advatange of engaging a law firm is that it demonstrates to the developer that you're serious in pursuing the matter.
    Last edited: Sep 3, 2009
  7. immmi79

    immmi79 New Member

    I have also invested in wings of arabia - have given 25% as downpayment... let me know what the plan is.
  8. raf_evo

    raf_evo New Member

    Does anyone here know if ACI / Wings of Arabia has it's very own Escrow account with RERA? This is not the same thing as ACI having one escrow for all projects. I looked back at some of my payments / wire transfer receipts and one went to National Bank of Abu Dhabi, while some others went to some Dubai entity called Bank of Emirates...

    There are about 15 people complaining and ready to take action...
  9. zhouguoyaogeorge

    zhouguoyaogeorge New Member

    Let us get together!!!

    Below is the answer I just received from ACI, does everyone here got the same letter? Let us get together to :boxing: instead of individule...

    Thank you for your Email and your correspondences with Alternative Capital Invest.
    With reference to your request for refund paid against your unit in Wings of Arabia, I would like to inform you that management will not entertain such a requests since this project is 45 floor tower and decisions will not be based on individual cases, please bear in mind that it is only fair to make decisions amicable to both parties; ACI and Investors.
    However, at this point in time you will be provided with an option to transfer your funds paid against your unit in Wings of Arabia to another projects which is at a more advanced stage.
    Please revert back to us upon your decision. If you choose to shift your investment to another development kindly provided us with 4-6 weeks time in order for management with authority to prove such offer upon their return to the country.
    Thank you in advance
    .........Should we appoint a certain time and place to all of us meet together to make our decision ? As they only fair to make decisions amicable to both parties: ACI and Investors.
  10. djaan

    djaan New Member

    someone must be mad to exchange the apartement as the o.p that time was much higher
    compare to what we have now that means they have offered me in a project which is in
    JLT for 1600 dirham /sqft which is faar more expensive then current prices.current price is
    apr. 600-800 sqft .

  11. immmi79

    immmi79 New Member

    Ref: Wings of Arabia

    please drop me an email at immmi79[at the rate of]gmaildotcom
    would like to join in, if we plan to take on legal action.
  12. needhelp!

    needhelp! New Member

    Hi all,

    I have spoken to a lot of you about the problems we are facing with ACI and there are few of us now looking to take things forward via legal proceedings. If you would like to join us please call me on 050 1898616. If we move forward jointly as a group we are likely to have more influence than if each of us independently try to take this forward.


  13. ani3333

    ani3333 New Member

    Help us from aci

    Hi there ,well I did tried calling you up,but u didnt pick up.Check ur cell and u can message me bak on the missed call (number ending with 2414). hope to hear from u ,really soooon....regards Anirudh
  14. ani3333

    ani3333 New Member

    Help us fom aci

    Hi there...please check ur mail ...I have sent u mail regarding taking legal action against ACI. we need to get together to help each other...
  15. altin

    altin New Member

    Dear all,

    I have also broth a full floor( commercial) in Wings of Arabia and paid 20% till yet. Please inform me also about your legal action.
  16. ani3333

    ani3333 New Member

    hey altin,mail me ur email id or any contact details...
  17. djaan

    djaan New Member

    Hi Needhelp,
    i will call you after Eid and than we will discuss how to proceed or are you in the process? how many investors have joined together sofar?because legal action
    is definitly not cheap in Dubai but if we have many investors together willing to
    take legal action than first we have to write their names and the units which they have booked and then make a group page in yahoo where we can exchange our emails because every investor has different opinion.Some investors may not in favour of legal action as it takes too long but when we get together we can discuss all about it, if better just drop them a letter and wait for their response so that ACI knows that there are people who want their hard earned money back.
    there are only two ways for ACI either starting construction in one month or Refund the paid amount, because no body i think will want to exchange.
    In my opinion we have mopre chances of getting our money back but first we have to join together.

    with regards
  18. daryush

    daryush New Member

    wings of arabia

    i invested in wings of arabia too and i try to call ur no but is discounted if u have any inf about wings of arabia pl contact me on 043498313 perth australia
  19. dineshrkk

    dineshrkk New Member

    do we ve any update if the project has been canceled or not .. is there any official statement from rera. i was speaking to the aci office n they very clearly told me that the project is going to be canceled any time. do we ve any updates on this??

  20. Plz send me an email to infinitlicht at yahoo dot com I'm very much interested to know your info. and take whatever actions required.
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