Ajman calls in police to chase rogue developers

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GETTING TOUGH: The emirate of Ajman is chasing down rogue developers.

GETTING TOUGH: The emirate of Ajman is chasing down rogue developers.

Real estate regulators in Ajman have filed cases with police to crack down on absconding developers, it was reported on Monday.

The Ajman Real Estate Regulatory Agency (Arra) is chasing those rogue builders who have failed to fulfil their contractual commitment, but emphasis is still on resolving disputes through mediation, director general Omar Al Barguthi said.

"We are opening cases against absconding developers and the ones who have failed to fulfil their contractual obligations. And a few have already been arrested," he said in comments published by Emirates Business.

"Our motive is not to file cases against developers. We give them [developers] equal opportunity and numerous options to fulfil their obligations. We only have an issue if they keep running [away] and not delivering what they have promised to investors," he added.

He told the paper that the action was a last resort after giving "ample time" to developers to fulfil their obligation, adding that the priority was still to bring the developer and the investor together in a bid to resolve their problems.

"We are offering solutions to the developer as well as the investor. We want both parties to resolve their dispute through mutual consent," Al Barguthi added.

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Posted by: Jack

Gr8 -lake signature. Developers are hiding in Lahore Pakistan.
SUIT # 11, IST FLOOR, BUSINESS ARCADE, DEFENCE CH
OWK, WALTON ROAD, CANTT- LAHORE ,
Director Name. SYED REHAN BIN WARIS GILLANI and Ibrar Haider. +92-42-36603744 +92-42-36603746
Hope that helps.

Posted by: Samu

We bought in smart towers by goldcrest Giga group. We never got the contract to sign and the developer never delivered. They have sent notices that the project is facing extensive delays and then offered silicon Oasis. They then said that the project is going ahead (which is not true ofcourse) and asked us to continue paying. They have refused to return our money even though we were willing to settle for a portion of our investment. There does not seem a law at the moment to protect investors like us and we have no clue yet how to go about this.

Posted by: Steve

You only need to visit www.ajmaninvestors.com to realize the extend of the fraud and lost fortunes in Ajman, and the total lack of action by ARRA. These words from Mr Barguthi are simply that - WORDS!

Posted by: KAYODE ALUKO

Unfortunately myself and many investors have been de-frauded by the directors of GR8. We have made substantial payments to GR8 to build a 30 story tower in emirates city ajman. The directors have fled back to pakistan , no building has started for 2 years. we informed all uae authorities about the GR8 directors other fraudlent activities before they fled but no action was taken. it will now be almost impossible to recover our monies.

Posted by: simran

Hi We are a group of 67 investors who bought apartments in giga . The project looks exciting and consisted of 8 buildings , Now the developers states he can offer us in silicon oasis Dubai , who will beleive him and put more of their money . When we calculated we had seen that he made 10 million at the onset , he says i have invested that in the land and now you can become shareowners of the land and make your own society . What is this nonsense , he should ideally finish the project as expected or return the money . He tries to send legal notices stating that either we agree or we are not going to getting the units . When we state arra he knows that there are no powers given to unit owners . I can bring all the facts and figures will ARRA get involved in this dispute and help us to get our money back . Some investors have been paid upto 50% of their unit value what happens to them . Can someone get up and sort out all these guys .

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