Did anyone purchase through the agents 'casadubai'???...

[nictt]

Hi all,

Did anyone purchase their property through the agent 'CasaDubai' previously based in the Midlands, then it Moved to London (they had an office in Dubai aswel) ? And have you made any recent payments to or through them to forward on to your developer??

Reason im mentioning it is i have been trying to contact them for the past week and no-one has been answering..
But this morning when i called there is an answering machine basically stating that they have been forced into receivership - So no More 'CasaDubai'!! ::..
Bad new for anyone who has paid them recently as they may have kept the funds, but also bad news if you were currently selling through them as you will have to start all over again with a new agent.
Plus i know there were offering guarenteed rental incomes on properties bought through them so dont know what would happen with this and they had also recently set up a share-buy scheme (wealth builder) so again.. I think that possibly people who invested in that with them could have lost their money..
I paid them a one off fee a couple of years ago when i bought my property through them and instead of accepting their offer of guaranteed 8% rental income i opted for the 12month free property management... Not going to get that now am i.. Lol...
Its a shame though because they had been around and in the property market in Dubai and other countries such as the States for many years..
Plus all of the staff were really nice and helpful!..

 

[naxal]

^^^^^^^

Are you suggesting another similar 'AL BARAKAH' case surfacing now ? ? ? ?

 

[nictt]

Hi,
I have read a little bit about that case, but i dont think its as extreme as that, but i do think that there will be people out there who purchased through them who potentially have lost their money..
I was due to make a payment to my developer at the end of Decemeber and normally i would pay CasaDubai who would then transmit the funds to them. However due to the fact that they have had 40% of my money so far with nothing built i made the decision not to make this installment...!!
I am Sooooo glad now that i decided not to pay it as CasaDubai would have undoubtably thanked me for my payment and not passed it on!
And i would have had to kiss it goodbye.. I do know though that the other payments were infact passed on to my developer.