Yet another case of greed.

[Chandan]

Hi ,

My investment in Bus. Bay , has left me with a booking form and receipt for
the first 10%, and not even that for the second 10% paid.I started following
up for SPA, and went crazy in the process.

After a lot of meetings , we finally sent even a legal notice ..to no avail.

The money has been transferred to the Escrow account as per the developer.
Is there any way to ascertain this? In case he has not registered my name
with Escrow Manager/RERA, is there any hope of getting my money back( even though the rate I paid is still lesser than today's crashed prices) ?

Developer says that you cannot get anything back..or sell the office.

Please advise,

Chandan.

 

[Sean@Phuket]

I feel sorry for you. Unfortunately this has happened all over Dubai.

If you want my advice I would suggest investing in a market not built upon credit. You should check out Phuket, built upon cash, where you can still get properties from as little as 100k USD

 

[financier888]

Hi ,

My investment in Bus. Bay , has left me with a booking form and receipt for
the first 10%, and not even that for the second 10% paid.I started following
up for SPA, and went crazy in the process.

After a lot of meetings , we finally sent even a legal notice ..to no avail.

The money has been transferred to the Escrow account as per the developer.
Is there any way to ascertain this? In case he has not registered my name
with Escrow Manager/RERA, is there any hope of getting my money back( even though the rate I paid is still lesser than today's crashed prices) ?

Developer says that you cannot get anything back..or sell the office.

Please advise,

Chandan.

Hi Chandon - you can check your escrow balance directly with the bank. You need to bring your passport and they are required to provide you with a print out and account balance refelcting your payments. If you are the registered to owner - and the developer claims to have transferred your payments - the bank will have this on record... Whatever you do - ANY AND ALL future payments should be PAID DIRECTLY into the escrow acct,.

good luck!