The First Group rip off/The Bridge! Legal action

[Tanya Suleiman]

Dear All

Has anyone invested with the (moderated) in Dubai and interested in taking legal action against them?

Thanks

 

[nmb]

Can you give us more detail on the situation?

 

[Tanya Suleiman]

Hello, we bough an office unit with this company based on the following information:
Unit size 399 sq ft (turn out to be 295 sq ft).
The agent who sold us the unit give us a good rental potential but we received less than a quarter of what we been promised.
The hole project been delayed by over three years without any compensation.

 

[Longterminvestor]

Surely the new regulations should protect investors from this type of issue?

 

[Nicholas Wallwork]

Go back and check the particulars you were given in the marketing and also what was in your actual contract. Sometimes the sizes can be quoted as "gross" or "net" the latter being the smaller of the two after the communal areas and wall thicknesses are taken out etc... sizes are often quoted gross in the Middle East and Egypt (I've bought in Egypt before) so it's important to understand this before taking any action.

Come back to us once you've verified the information you have to see if any wrong doing has been commited...

On the point of the rental income I'm afraid this is 100% down to you and your due diligence. Never take an agent's word for what you can expect, you should check the local area and demand for yourself by sense checking with several agents and verifying what you've been told. If you DID do that then it's possible the market has slumped OR the current agent isn't marketing your property very well so it may be time to switch agents... do those checks now on what the "going rate" is and see if your agent is just doing an bad job...

Hope this helps and feel free to ask for further advice once you've double checked your sales particulars etc...

 

[jeremy peachey]

Sorry to digress but is it possible to say if reselling 1-2 bed flats is a problem due to a glut of new builds?
Regards Jeremy

 

[Harry Butler]

Dear All

Has anyone invested with the (moderated) in Dubai and interested in taking legal action against them?

Thanks

 

[Harry Butler]

I have a 9 year dispute with (moderated) in regards to (moderated). The unethical methods used in contracts need to be addressed I would be happy to discuss your problem .My dispute is ongoing I have taken legal action but the outcome was unsatisfactory due to representations by (moderated)
Does your contract include the term FORCE MAJEURE

 

[Harry Butler]

Go back and check the particulars you were given in the marketing and also what was in your actual contract. Sometimes the sizes can be quoted as "gross" or "net" the latter being the smaller of the two after the communal areas and wall thicknesses are taken out etc... sizes are often quoted gross in the Middle East and Egypt (I've bought in Egypt before) so it's important to understand this before taking any action.

Come back to us once you've verified the information you have to see if any wrong doing has been commited...

On the point of the rental income I'm afraid this is 100% down to you and your due diligence. Never take an agent's word for what you can expect, you should check the local area and demand for yourself by sense checking with several agents and verifying what you've been told. If you DID do that then it's possible the market has slumped OR the current agent isn't marketing your property very well so it may be time to switch agents... do those checks now on what the "going rate" is and see if your agent is just doing an bad job...

Hope this helps and feel free to ask for further advice once you've double checked your sales particulars etc...

 

[Harry Butler]

There seems to be an historic theme in any investment taken with (moderated) .Contracts are designed to protect what are at best extremely highly unlikely outcomes regardless of financial situation.A large number of investors have been damaged by this company,and does not put Dubai Authorities in a good light by allowing them to get away with unethical practices. The Nigerian Authorities have taken action and closed offices down See Vangaurd news Nigeria

 

[Harry Butler]

Dear All

Has anyone invested with the (moderated) in Dubai and interested in taking legal action against them?

Thanks

Yes please contact me I have been the legal route please let me hear your story with (moderated)

 

[bin_3loush]

Go back and check the particulars you were given in the marketing and also what was in your actual contract. Sometimes the sizes can be quoted as "gross" or "net" the latter being the smaller of the two after the communal areas and wall thicknesses are taken out etc... sizes are often quoted gross in the Middle East and Egypt (I've bought in Egypt before) so it's important to understand this before taking any action.

Come back to us once you've verified the information you have to see if any wrong doing has been commited...

On the point of the rental income I'm afraid this is 100% down to you and your due diligence. Never take an agent's word for what you can expect, you should check the local area and demand for yourself by sense checking with several agents and verifying what you've been told. If you DID do that then it's possible the market has slumped OR the current agent isn't marketing your property very well so it may be time to switch agents... do those checks now on what the "going rate" is and see if your agent is just doing an bad job...

Hope this helps and feel free to ask for further advice once you've double checked your sales particulars etc...

thanks man that was so informative

 

[Nicholas Wallwork]

No problem...


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[bin_3loush]

i don’t have that much of experience in this field. but if you want to invest in a safe project, try investing in a government backed real estate companies. like (Emaar) in Dubai or (Eldar) in abu dhabi. all your documents and contracts should be legal and your project should finish on time.