Ajman Boulevard

[rezza]

Hi

Does anybody know if any legal action has been taken against Boulevard developer ?
Thanks

 

[Kjarkata]

I recently got a letter from the developer with ARRA letter as attachment giving permission to AA property to swap. To me, it seems that the project has been cancelled. I am not sure how to get refund if the project has been cancelled. Does the Ajman law indicate 100% refund if the project has been cancelled.

 

[Kjarkata]

Ajman Boulevard project on emirates road is cancelled and is included in the list of cancelled projects which ARRA has planned to issue by end of the yaer or early next year.
Not sure what will happend to the investors payment which they have made to AA Property. To me it seems that they do not have the money to refund to the investors. The ajman sheikh should act and fund for the refund of investors hard earned money. :alberteinstein:

 

[Kjarkata]

Note sure what to do next, stuck up with the investment and can not just let it go as it is my life savings. There seems to be nothing which I could do as the legal process is so expensive and the so called rules change according to their needs, no matter persons like me suffer.

Ajman Boulevard project on emirates road is cancelled and is included in the list of cancelled projects which ARRA has planned to issue by end of the yaer or early next year.
Not sure what will happend to the investors payment which they have made to AA Property. To me it seems that they do not have the money to refund to the investors. The ajman sheikh should act and fund for the refund of investors hard earned money. :alberteinstein:

 

[dubayyy]

Hi

Any movement on this development? I was recently offered a swap into Dubai Lagoons project at a similiar percentage paid. But the Lagoons developer wanted another chunk of money upfront. Given that the Lagoon's development is also so far off schedule that also seemed like throwing good money after bad.

Anyway, it would be good to hear if anyone is leading an action group against AA Property. They have clearly cancelled the project as no work has taken place on site for nearly 4 years now, but they insist on maintaining that it has only been delayed so they don't have to refund any monies.

Would be good to hear from any other investors and find out what luck if any they have had with ARRA.

thanks
d

 

[dubayyy]

Any update on this one guys..?

 

[Rick Crann]

Hi Guys,

Pretty much same story as everyone. We have been stuck with this investment from the launch day unfortunately

(Moderated) No work has been done on the site. (Moderated). The developer and the project owner is the ruler of Ajman so we can't really do anything against him. We might get our money back if he decides to cancel the project. But if he still keeps on delaying then we won't get anything back. We were also offered a swap in Dubai Lagoon for a higher price and those guys were even more desperate to get more money out of us. I just found out that project is also five years behind schedule and now the Dubai authorities have taken it over (moderated). A lot of people lost a lot of money there. I guess we have no choice but to hope this project gets cancelled so we can get our money back. Or we can just right this money off. Will keep u guys posted if I hear anything.