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Development status?

Sun, 02/15/2009 - 16:11 — Gino

Hi everyone,
Does anyone know if the Blossom Towers development is likely to go ahead? Originaly the developer was to be Al Rashed Real Estate, is that still the case? Do we know who has our money and has anyone heard whether further payments are likely to be requested?
Gino

Sun, 02/15/2009 - 19:01 — nwalait

STOP YOUR PAYMENTS!!

Hi

I have purchased a property from Al Rashed and it seems very unlikely they will be going ahead with construction with any of the projects in Humaid City.

It is true that investors have taken over but all they are concerned about is getting their monthly installments despite the fact that they have not started construction.

I would like to hear from everyone who has purchased an apartment from them. There is not enough noise made about this developer.

Mon, 05/18/2009 - 17:00 — sadaraj

Humaid City - Al Rashed

I have already stopped payments to Al Rashed on a development in Al Humaid City (Calthorpe Towers). Having checked with ARRA, i understand that they havent registered the project with the ARRA by 1st of May, which was the deadline.

ARRA recommend that if you need a refund, you take them to court.

Sun, 04/26/2009 - 20:45 — Khalid el Mhassani

Orchid Tower

Hi,

I have bought a 2-bedroom apartment in October 2008 from Al Rashed Real estate.
I have paid up 20,000 euros since than, suddenly they changed their bankaccount number.
they never gave me a new correct bankaccount number.
By the way, Al Rashed is very hard to contact and they never help me out.
I stopped my payment in January this year.

Khaled el Mhassani

Wed, 05/06/2009 - 11:55 — Zubair

Al rashed developments

They have one story to tell....getting new registartions with Ajman RERA and SPA so that they can run away with teh money received. They have few well spoken guys, fluent in Arabic and English, and will avoid any possibility of meeting higher ups or responsible people who make decisions. REMEMBER not to pay anything until you have physically seen teh Ajman RERA approval and ESCROW account details of teh specific project. Humaid City will never take place or start before 2010 or even 2011 as there is no infrastructure available to provide water or power the place. Marmooka City, which was started in 2007/8 and 50% completed now stands to be abandoned like a ghost city with half built structures!!

Tue, 02/17/2009 - 16:03 — mike

Stop your payment

Hi
I have already stopped my payment since last year. I purchased an apt in Springfield Tower with Al Mirage and development with Al Rashed and ACI. But all they are concerned about is installment. Al Mirage are not providing any more information, nor Al Rahed and ACI.
I suggest everyone concern should not make any further payments.


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