GR8 Holdings selling Lake Signature 1-Ajman

[verity]

LAKE Signature 1-ajman

hi...
i have a 1-room plus study unit in lake signature!!!would appreciate if you could share any information!!!
thanks..
dalton

Hi Dalton

Like I replied to Fracas99 earlier today
give me your email address
so we bunch together and share more info on GR8 and project off-line
thanks
v

 

[dalton Ice]

its daltonice at yahoo...am unable to write my e-mail address bcos this forum doesnt allow it...
do write, i'm waiting for some info...unfortunately i'm not in the uk currently in dubai. Anyways any info coming our way is valuable.

thanks!!
dalton

 

[verity]

its daltonice at yahoo...am unable to write my e-mail address bcos this forum doesnt allow it...
do write, i'm waiting for some info...unfortunately i'm not in the uk currently in dubai. Anyways any info coming our way is valuable.

thanks!!
dalton

HI DALTON

Got your contact and will mail today

Whilst in Dubai
Could you visit GR8 Holding office on Sheikh Zayed Rd near Crown Plaza check if this is staffed office at all or just PO Box address ?

Could you visit Ajman Municipality office and their Planning &Survey dept - ask for proof that plot was handed to GR8 Holding and payment transaction was approved by Ajman gov ??

you could also drive to site( think it is junction of Emirates Road and Sheikh Zayed Rd in new Ajman) and see if there is any billboard with GR8 AND Lake Signature- take some photos of any work progress

You could also see ChapalWorld master developer and ask same- Did they hand plot over to GR8 AND have they received 40% payment- and get proof of that
They are also in Sheikh Zayed Rd at Emaar Gold & Diamond Park

I am in UK and will also go there but not yet- Also time is of essence !!
If plot was not handed developer can default and run with our money
yet they demand further payments- or you pay hefty penalties of 4% monthly
compounded ( that is 48% of outstanding payments would be your penalties alone !!!)
which agent sold it to you ?
hear from you soon
ver

 

[verity]

as above - in black

Hi
and thank you again

it looks GR8 cannot prove that plot was handed over to them, and that they indeed paid 40% (as they said before)- why would they lie ?

No contract with Gen Contractor (TAFANI) was signed nor paid

GR8 confirmed that project is at design stage ( on Saffarinis drawing board )

In Law- can GR8 be marketing/ selling project when plot was not handed over and design not approved by Ajman Pl.Dept ?????
I did try to speak/email to CHAPAL MASTER DEVELOPER - BEWARE- BEWARE !!!
Appalling, unhelpful, difficult, secretive
they never replied to number of my emails
and talk with very unclear, heavy accented english- just to discourage you to follow your enquiry
Chapal will not co-operate with End Users !!

Likewise forget to get through to Ajman Municipality - Pl.Dept over the phone
phone keeps ringing- but no reply

My feeling is plot will never be handed over to GR8.
and if project be build at all- we , End Users will get 99 year leases- not the promised Freeholds !!!
Chapal will hold the freehold title to plots that they allow other developers to build on.
End-Users will end up paying high ground rents and unreasonably high service charges.
thanks
I am getting tired with this gr8 charade
v

 

[financier888]

Hi
and thank you again

it looks GR8 cannot prove that plot was handed over to them, and that they indeed paid 40% (as they said before)- why would they lie ?

No contract with Gen Contractor (TAFANI) was signed nor paid

GR8 confirmed that project is at design stage ( on Saffarinis drawing board )

In Law- can GR8 be marketing/ selling project when plot was not handed over and design not approved by Ajman Pl.Dept ?????
I did try to speak/email to CHAPAL MASTER DEVELOPER - BEWARE- BEWARE !!!
Appalling, unhelpful, difficult, secretive
they never replied to number of my emails
and talk with very unclear, heavy accented english- just to discourage you to follow your enquiry
Chapal will not co-operate with End Users !!

Likewise forget to get through to Ajman Municipality - Pl.Dept over the phone
phone keeps ringing- but no reply

My feeling is plot will never be handed over to GR8.
and if project be build at all- we , End Users will get 99 year leases- not the promised Freeholds !!!
Chapal will hold the freehold title to plots that they allow other developers to build on.
End-Users will end up paying high ground rents and unreasonably high service charges.
thanks
I am getting tired with this gr8 charade
v

It would not be uncommon for Chapel to avoid providing you any info on GR8 - as you are GR8's client and they really have nothing to do with you nor can even confirm if you are a buyer '/ investor...

In answer to your question - 'Can a developer sell even though he has not be handed-over the plot in Ajman? - YES, they can. Once the Ajman muni approves their plan, they can start selling irrespective of receiving handover. (that used to be the same in Dubai until RERA changed the law last year....)

If GR8 claims they are starting construction in a few weeks - they will start piling. (soil sampling / piling etc..) Usually, this is a different contract than with the construction work to build the tower.... (like TAFANI)

GR8 should be working to be more transparant and have better investor relations - like proper updates either through emails to their customers and posting more info on their websites to make the buyers feel more secure. Unfortunately, many of these small firms are amatuers and otherwise clueless to the needs and sensitivities of their clients...

Insofar as 'no one picking-up the phone in Ajman muni' - I feel your pain. I know this all too well and have spent many hours in their offices. That's just the way it is.. Best to try early in the AM - Ajman time. After 12PM - nearly next to impossible.

if you get 99 year leases, it's not the end-all provided you will still be eligable for a visa once they re-inact the visa law..... I wouldn't overly concern myself on this issue and GR8 or any developer up there has no control over this. The ground rents should not be too high but you never know and there should be langauge in the SPA to cover you in more detail if this should happen - The developer should be vigilant being that they have 'paid' to purchase the land!

good luck

 

[fracas99]

Hi
I bought studio in L.S. 1- Ajman
and am in talks with GR8 and posted few treads here
about inconsistencies of SPA and other things about this project
GR8 cannot prove that plot was handed to them by master Chapal
if they do not hold title to plot- project will never go on site
developer may default with our money
give me your email address so we can bunch and share cost of lawyer
are you in UK ?
v

I am in the US....i tried posting my email address but this site does not allow the posting of email addresses. I too would like to start a distribution grp of all the
people who bought in LS..... i dont like this website - so how should we go about doing this??

 

[fracas99]

its daltonice at yahoo...am unable to write my e-mail address bcos this forum doesnt allow it...
do write, i'm waiting for some info...unfortunately i'm not in the uk currently in dubai. Anyways any info coming our way is valuable.

thanks!!
dalton

ok i see how dalton posted his email
mine is
laviza at verizon dot net

 

[fracas99]

Hi
and thank you again

it looks GR8 cannot prove that plot was handed over to them, and that they indeed paid 40% (as they said before)- why would they lie ?

No contract with Gen Contractor (TAFANI) was signed nor paid

GR8 confirmed that project is at design stage ( on Saffarinis drawing board )

In Law- can GR8 be marketing/ selling project when plot was not handed over and design not approved by Ajman Pl.Dept ?????
I did try to speak/email to CHAPAL MASTER DEVELOPER - BEWARE- BEWARE !!!
Appalling, unhelpful, difficult, secretive
they never replied to number of my emails
and talk with very unclear, heavy accented english- just to discourage you to follow your enquiry
Chapal will not co-operate with End Users !!

Likewise forget to get through to Ajman Municipality - Pl.Dept over the phone
phone keeps ringing- but no reply

My feeling is plot will never be handed over to GR8.
and if project be build at all- we , End Users will get 99 year leases- not the promised Freeholds !!!
Chapal will hold the freehold title to plots that they allow other developers to build on.
End-Users will end up paying high ground rents and unreasonably high service charges.
thanks
I am getting tired with this gr8 charade
v

please email me Laviza at verizon dot net

 

[fracas99]

I also bought a one bed room flat + study from GR8 in the lake signature building and it has caused me nothing but trouble. I have paid over £20,000 in instalments and have still not received any documentation from them.

I sentbn them an e-mail this week and informed them i will not make anymore payments until i get some form of documentation. I have no confidence in the company and will be trying to see if and how i can get out of this contract and money back.

There is no way that they will now be able to complete the building by 2011 as stated ( that was long enough).

I am also in Limbo as what to do? It might be an idea to bring it to the Ajman authorities if that helps at all

Kay

please contact me laviza at verizon dot net

 

[fracas99]

anyone who has invested in Lake signature in ajman please contact me
at laviza at verizon dot net

 

[McVelvet]

Hello
I have purchased in Lake Signature just recently. I have previously invested in several projects in Dubai and realised very quickly that I had to change the way I thought about buying property in the Emirates as the developers work very differently. There tends to be less paperwork available and it takes some time to get contracts out of them. On the other hand I feel that Dubai, Ajman and RAK are the safest places to buy in the world. When you look at the different regulatory agencies involved, the legal framework that protects clients and the fact they have had a massive clean up of the industry just recently and everything is pretty much working to a master plan with heavy involvement from the government...where else in the World can you get that.
I personally thought the preliminary contract I received for my purchase at GR8 was extremely impressive compared to the 1 page documents I have been given for some of my purchases in Dubai. The fact that you actually get a preliminary contract rather than having to wait for 2 or 3 months is a good thing. The fact that Chapal is involved is also another good thing. Trust me, most other developers in Ajman would be a lot worse and I for one went for this development due to the royal seal of approval you get by the fact that the Crown Prince owns a chunk of the company.
I don’t know about you but my preliminary contract was pretty much the same as the master that I recently got from GR8, with a few details excluded. Some details were slightly different on the master contract but it only took one email and one call to the agent to sort it out.
I have made a considerable profit from my investments in the Emirates and will continue to invest there for the next 5 years at least. If you got the same price as me per square foot I think you should be happy that you have found such a steal and secure in the fact that you have invested in the most heavily regulated property sector in the world in one of the best property markets in the world and with the best developer in Ajman

Good luck

 

[verity]

It would not be uncommon for Chapel to avoid providing you any info on GR8 - as you are GR8's client and they really have nothing to do with you nor can even confirm if you are a buyer '/ investor...

In answer to your question - 'Can a developer sell even though he has not be handed-over the plot in Ajman? - YES, they can. Once the Ajman muni approves their plan, they can start selling irrespective of receiving handover. (that used to be the same in Dubai until RERA changed the law last year....)

If GR8 claims they are starting construction in a few weeks - they will start piling. (soil sampling / piling etc..) Usually, this is a different contract than with the construction work to build the tower.... (like TAFANI)

GR8 should be working to be more transparant and have better investor relations - like proper updates either through emails to their customers and posting more info on their websites to make the buyers feel more secure. Unfortunately, many of these small firms are amatuers and otherwise clueless to the needs and sensitivities of their clients...

Insofar as 'no one picking-up the phone in Ajman muni' - I feel your pain. I know this all too well and have spent many hours in their offices. That's just the way it is.. Best to try early in the AM - Ajman time. After 12PM - nearly next to impossible.

if you get 99 year leases, it's not the end-all provided you will still be eligable for a visa once they re-inact the visa law..... I wouldn't overly concern myself on this issue and GR8 or any developer up there has no control over this. The ground rents should not be too high but you never know and there should be langauge in the SPA to cover you in more detail if this should happen - The developer should be vigilant being that they have 'paid' to purchase the land!

good luck

[COLOR="Magenta"
[COLOR="Black"][/COLOR]Hi
which Plan need to be approved by Ajman muni ?(before gr8 can start selling)
Affection plan ? or full set of design plans, sections, elevations,struct. drawings ???
If project is at design stage, Ajman has not yet approved plan ??
in which case project should not be marketed yet ?
Why should one believe GR8 statement that they paid 40% for the plot
if they won't prove it in black & white to buyers ?
any thoughts ?
thank you
v[/COLOR]

 

[verity]

Hello
I have purchased in Lake Signature just recently. I have previously invested in several projects in Dubai and realised very quickly that I had to change the way I thought about buying property in the Emirates as the developers work very differently. There tends to be less paperwork available and it takes some time to get contracts out of them. On the other hand I feel that Dubai, Ajman and RAK are the safest places to buy in the world. When you look at the different regulatory agencies involved, the legal framework that protects clients and the fact they have had a massive clean up of the industry just recently and everything is pretty much working to a master plan with heavy involvement from the government...where else in the World can you get that.
I personally thought the preliminary contract I received for my purchase at GR8 was extremely impressive compared to the 1 page documents I have been given for some of my purchases in Dubai. The fact that you actually get a preliminary contract rather than having to wait for 2 or 3 months is a good thing. The fact that Chapal is involved is also another good thing. Trust me, most other developers in Ajman would be a lot worse and I for one went for this development due to the royal seal of approval you get by the fact that the Crown Prince owns a chunk of the company.
I don’t know about you but my preliminary contract was pretty much the same as the master that I recently got from GR8, with a few details excluded. Some details were slightly different on the master contract but it only took one email and one call to the agent to sort it out.
I have made a considerable profit from my investments in the Emirates and will continue to invest there for the next 5 years at least. If you got the same price as me per square foot I think you should be happy that you have found such a steal and secure in the fact that you have invested in the most heavily regulated property sector in the world in one of the best property markets in the world and with the best developer in Ajman

Good luck

Hi
which agent did you buy from ? in UK ?
My preliminary contract is very different to what GR8 sent me now
in fact litany of differencies for sole benefit of GR8
Will Ajman gov pay you back if GR8 will default on Lake Signature 1 ?
what have you paid psf ?
because I do not think it is cheap at todays exchange
especially that you won't see it built for next 5 or more years
and provision of water/electricity supply is in doubt
just a thought

 

[alukok]

Hi Kay

You bought in L.S 1- Emirate lake towers-Ajman ?
So did I
Which agent sold it to you ? - Are you in UK ?
'No More Hotels' or 'Unity Estates' agents in England ?
Have you signed Preliminary contract with agent ? with 3 years Payment Plan ?
Perhaps we could both get in touch to make representation to GR8
Are there other buyers who want to join ??
let me have you email address
and read through my previous threads about LS 1 and GR8
hear from you
Verity

I bought it from Unity estates.

I did sign a preliminary contract with agent for a 3 year plan but till today have not received any the SPA and documentation. I have e-mailed them and called them and have been told that bthe SPA is in the post.
you can contact me at 07810041995

as you know would rather stop all payments asap and try to hold someone responsible if this is going to implode. would be good to hear from others as it seems many are in the same position.

 

[Friend728]

HI All

I am also in the same boat. Bought apartment from agent in UK in Lake signature Ajman. As we all know their is not going to be any consturction at Lake signature 1 but problem is GR8 GR8 doesnot want to return any money. Who wants to return money back. The agent whom I bought the apartment is trying to get it but again it appears that GR8 is just trying to gain some time either they will run and leave middle east. I feel that agent should have figured out before he sold that apartment to me. Looks like Ajman rules and regulations are worse than 3rd world country. I feel bad but GR8 to me is a corrupt company.

 

[Crofty2000]

Legal Action Against GSS Real Estate
We are a group of investors who have purchased property from GSS Real Estate, part of GBS Group Holding, either directly or via estate agents .
If there are any customers here who have purchased from GSS REal Estate, please visit this thread:-
GSS Action Against Real Estate

 

[verity]

Hello
I have purchased in Lake Signature just recently. I have previously invested in several projects in Dubai and realised very quickly that I had to change the way I thought about buying property in the Emirates as the developers work very differently. There tends to be less paperwork available and it takes some time to get contracts out of them. On the other hand I feel that Dubai, Ajman and RAK are the safest places to buy in the world. When you look at the different regulatory agencies involved, the legal framework that protects clients and the fact they have had a massive clean up of the industry just recently and everything is pretty much working to a master plan with heavy involvement from the government...where else in the World can you get that.
I personally thought the preliminary contract I received for my purchase at GR8 was extremely impressive compared to the 1 page documents I have been given for some of my purchases in Dubai. The fact that you actually get a preliminary contract rather than having to wait for 2 or 3 months is a good thing. The fact that Chapal is involved is also another good thing. Trust me, most other developers in Ajman would be a lot worse and I for one went for this development due to the royal seal of approval you get by the fact that the Crown Prince owns a chunk of the company.
I don’t know about you but my preliminary contract was pretty much the same as the master that I recently got from GR8, with a few details excluded. Some details were slightly different on the master contract but it only took one email and one call to the agent to sort it out.
I have made a considerable profit from my investments in the Emirates and will continue to invest there for the next 5 years at least. If you got the same price as me per square foot I think you should be happy that you have found such a steal and secure in the fact that you have invested in the most heavily regulated property sector in the world in one of the best property markets in the world and with the best developer in Ajman

Good luck

Hi McVelvet
we are group of buyers in LS1-Ajman by GR8
taking legal action against developer
pls contact us on b4mrsatyahoodotcom
if you want to join and update us on your progress with GR8
LOOK FIRST at ''Lake Signature1-ajman-latest'' new tread
v

 

[reasonant]

Did you obtain letter from ARRA (letter indicates that developer in default)?

 

[Alipapa]

Dear Sir/ Madam,



I am an investor, i bought several units from GR8 Holdings in Lake Signature 2, Eye of Ajman more than 2 years ago, i have paid them 2 installments amounting to over 1 million dirhams.

I got your contacts from the property community forum and i would very appreciate if you could update me on the current situation with GR8 holding, im also keen to join your group in taking legal action.

Looking forward to hearing from you.



Regards,



Alipapa.