Hydra Properties forced to auction land to repay homeowners

nu2dubai

good day,
we bought a property on the hydra tower project in business bay, and the project is on hold, we want our money back. I wanna know if anyone is facing the same issue? what are your steps you've done? or does anyone know how we can get our money back?

Sanjay Batheja

Did anyone receive their monies from Hydra Properties?

Daniel

Does anybody have a contact of a lawyer who has been sucsessfull at dealing with Hydra. If so, please could you send me the contact details. daniel@voip101.us

waiting for get my life saving back

Auction was on the 23rd of Jan and we dont know what was sold. One land was sold, but nothing is confirmed yet!!
the second aution is suppose to be on the 30th of Jan, but dates keep on changing with no valid reason?
I have been waiting for excution since june 2011- it is really sad.
If Hydra is doing well and we have won the cases so why cant we get our money back????????

harry

it is unbelievable ,we have been going to the Land department regularly and infact were advised recently the Business Bay project is on hold .The land Department needs to be fair to all the investors and before settling the court judgements they must allow all the investors to file their claims of recovery and the proceeds should then be distributed among all the investors .Everyone should get together to form a group to ensure we all get our investments back .

raj

yes its frustrating - we have units in Hydra and have an advisor who is handling our papers as we are in UK.

waiting for get my life saving back

lets get together then and do somthing to get our saving back.
pls get in touch via email to rolaone@hotmail.com. thnx

Concerned

The lawyer is wrong, the auction is on the 20th December 2012. How can this article even be published without the facts being checked!!

abbassali

When and if the proposed investor protection law is signed by the Dubai ruler then developers have to refund the investors money without going to the court system.

Craig

Fabulous news well done. I wish the rest of the GCC would follow as there are thousands of hard working, honest, investors who have been suffering financially and mentally with stress due to the state of there 'planned' homes from dodgy local developers.

John

Is this not the same Hydra formerly championed in nauseating and sychophantic fashion by AB, formerly led by Sulaiman al Fahim who turned out not to be a "tycoon" at all?

Chris

Too bad Dubai and the rest of the Gulf couldn't do the same. It would do a lot to restore confidence in the sham that is GCC property investment.


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