YASMIN VILLAGE at RAS AL-KHAIMA

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imported_Gav

Guest
YASMIN VILLAGE in RAS AL KHAIMA

Does anyone have any information regarding this development or a company called "The First Group" who are advertising it?
 
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maximus1

New Member
do not invest with them. i wish that i had never heard of them , let alone given them my hard earned money. bought an overpriced invest, delivered three years late (actually its still not been handed over yet) and despite all of their wealth builder plans & promisses they now tell me that the rental returns are not as they had hoped, and they are now trying to scare us into signing up for somthing, that is not at all beneficial to me.its kind of funny, if you phone them regarding any of ther projects, they will tell you that ther doing great and you better get a wiggle on or you will miss out and they tell tales of great returns via rentals.then like me when you talk to them about rentals or possible resale they tell you, good luck trying to sell or rent anything at the moment because nothing is moving, and they are right as i have checked out many est agents in the area, and nothing much is selling unless you want to sell at a loss. they do however continue to falsley advertise the high return rates etc on ther web site, and still send out to existing and potential customers ther rates that they know not to be true. i am in the process of now taking legal action against them.my journey with them has been one of dissapointment and being let down time after time, stressfull and to date the worst investment i have ever made, actually its the only epic disaster i have been involved with. this is why i am sharing this with whoever wants to take heed from it. the odd thing is no matter how hard i look on forums i cannot find any body saying anything about them good or bad, so if you know of any such discussions please let me know.
regarding the returns, i cannot quite believe what they have told me today, it hurt big time. they are saying the expected rental is now going to be in the region of 20 to 30 thousand aed a year, thats right folks a year 3 to 5 thousand sterling. they are expecting final payment. its not going to happen, the stark reality is it is no deal, this means i am going to be in dis pute with them and i now realise that i have lost my investment pretty much as i am sure that if i do not make the final payment they will probably seize it or somthing in ther favour. but it is already not worth what i paid for it, and 5k a year rental? it will take me about 60 years just to break even. if anyone is interested in contacting me then do so i can forward copies of correspondance to you. i think it is to late for anyone who has purchased in yasmin now we are all in the same situation? however why dont we start a website that can be used to show the corruption that has taken place and prevent other people from investing with them?

Last edited by maximus1; Today at 03:22 PM.
 
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EML

New Member
maximus, I recognise your comments from another thread, have you contacted any solicitors yet concerning the Yasmin Village fiasco? I have just spent almost £1000 pounds to have Trench and Associates to look at the history of my potential buy......basically it would be a case of getting an Arab speaking Advocate and taking it to the RAK courts. The best way of doing such a thing is to get a group of people together to ease the burdn of cost. can I contact you or any other individuals who have been through this nonsense?
 
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aboudisaadi

New Member
I bought as well back in 2008 and promised by the developer amazing returns, even tried to convince to sell my propoerty back in the UK to invest more. As you said return on investment IF and that's a big if rented would take like 60 years. The service charge is about 50% of the rental income.

Do you guys believe there is a case ? the properties are completed therefore I don't see how any legal action can be used against the developer.
 
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EML

New Member
aboudisaadi....I do not know for definite if there is a case however I will be happier spending my last payment trying to get money back as opposed to giving it straight to TFG.
 
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trust340

New Member
New Yasmin Village website

Hi all, for all Landlords and Tenants from Yasmin Village in RAK, UAE that are interested. I have started a new YASMIN VILLAGE Community FORUM. Please visit the following link. You will have to register to write any post.

Let’s start making this FORUM a good feedback forum for all interested. And to make Yasmin a better place to live.

phpBB, www-forumatic-com under "YASMIN VILLAGE Community"
or
http-yasmin-village.forumatic-com

Ps Sorry system will not allow me to include a link yet.


Regards
 
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