Aristocrat Star Investments

[Duke]

Anybody here have properties with them?

I've 7 units from them and I'm not happy with the developer. They did
not signed a contractor until mar 2009 and that was close to when they
were suppose to take the second installment, which makes really
worried. I don't what to say about the status of construction, seems
like they are playing with the sand not sure if that counts as
"construction started".

[emam nazar mirza]

    HI Dear: I have 2unit with them ,in Feb I went to the site and the didn't start the constructions.
               But they play very tricky and agrissively with the investors,one day they announce so called
               new payment plan(wich is absolutly not new) and next day they anounct the appointment of
              contractor for  project and soo on.
  But one should know that even they start the constructions Dosn't make any sense because the price on
  such project already down 50% and going down every week,every month. so who can pay the price on base
 of contract,I mean original price??????????????????
 
 

 
> Date: Sat, 11 Apr 2009 02:48:31 -0700
> Subject: [Dubai Property Investors] Aristocrat Star Investments
> From: nucl...@gmail.com
> To: dubai-proper...@googlegroups.com

> More than mail–Windows Live™ goes way beyond your inbox. More than messages

[Aliya Shayakhmetova]

Hi

Contruction is started when they have contract signed with the
Contractor and TRANSFERED money to a Contractor. It was announced in
Gulf, that Aristocrat investment have signed a contract with
Contractor, but the other day (5 April) we went with group of
Aristocrat Investors in itheir office,and the documets wer asked Mr.
Suleiman said, that someone who is responsible for it, is not in the
office.

As for the construction stage. I was there in December, 14, and on
April, 7. Should say that in December it looked even more like
construction is going on, but cars were with Abu Dhabi plates, it was
explained by the fact that the land belongs to AD Sheikh, should note
that neither in Dec, neither in April there were no boards saying that
land is actually developed by Aristocrat. In December the answer was -
in printing, in April 6, when we met with Mr. Suleiman, he said that
the purpose of not putting their boards is Sheikh, they don't want to
disappoint him. Whether I have a document from RERA, stating that
Aristocrat has NOT registered the LAND (PROJECT) yet. They are
registered as a Developer (have ESCROW), but my particular project -
Park View Appartments is not registered with the Land Department.

I'm in legal action with Aristocrat now.

There's no sense in costructing this project. International city,
Marina Promendade, even JBR are half empty, but those are freehold
properties.

Want to know, are you in Aristocrat Star Investment Group? If not
please register your units with us, if you are not willing to continue
with this project.

When we met with Mr. Suleiman on 6 April, he mentioned that he has
3000 units with him, and that we (30 people) are just small amount of
it,about which he shouldn't care, as there're people who are bringing
him money and supporting his project. Our goal now if we want have our
money back is to gather all owners of at least half of 3000 and submit
official notary to Aristocrat, stating that we are not willing to
continue with them and offer them such and such conditions, possibly
it can be done through RERA as well. It's said, that new law is
favouring investors, but we cannot rely on it, as there are talks that
if construction is started there only 25% can be returned, but no one
specifies either from paid amount or from total price.

with regards

Aliya

[rakes...@gmail.com]

Construction start is only after ENABLING COMPLETION that means PILING COMPLETION not just a contract for foundation
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-----Original Message-----
From: Aliya Shayakhmetova <bald...@gmail.com>

Date: Sat, 11 Apr 2009 13:04:27
To: Dubai Property Investors<dubai-proper...@googlegroups.com>
Subject: [Dubai Property Investors] Re: Aristocrat Star Investments

[Golden Eye]

Hi,

I have 2 units with Aristocrat Investors. They are in Royal Estates. I
have refused to give them the second payment as I am much better off
forfeiting my deposit. They have now threatened legal proceedings but
I am not budging. I am confident (without any proof) that this project
will never go ahead as I know of no one who is making the second
payment. I believe no builder in Dubai have enough of their own money
to complete the projects they started and it doesn't take a rocket
scientist to put 2 and 2 together.

Kind regards,
Seraj

[Aliya Shayakhmetova]

Probably it depends on the deposit you gave them :) As my deposit is more than 1 000 000, and for second payment thay required a check, so they have 2 checks from me, each on more than 1 000 000.

 

Anyways if they are going to cancel, according to their own Rules, they may remain only 3% from the amount you have given them. If your deposit is not huge, probably it's better to wait till they send you cancellation notice., but I doubt they will.
 

Anyways do you want to register your units with us? Do you know a lot of people who are the Aristocrat Star Inverstors, please pass them a word. What we can do is to speed up the cancellation proceedings.

 

Aliya
 

2009/4/12, Golden Eye <seraj.m...@gmail.com>:

[emam nazar mirza]

HI DEAR: As I know no body will pay them ,there is no way to continue with them, Why?
            1-The price on their project already came down more then 50% and will be down more and more....
            2-They don't have the suficient funds to built it ,because no more payment of instalment the will recieve and no loan form bank and so on
             3-They have no intention to built ,but want to pretend to build because when the show to RERA that they want to build they can siez the
              investors money under defult .
    we have to find the other invetors and bring them to our group . I know so many investors that crying because  of losing their money but they
   have no courage to do somthing  and to act.
 
                     I have one unit with Aristocrat investment and I want them to cancel the project .
 
the unit is:Regents business park(gate 1)5th floor,unit#10(2020.35sqf)
 
                Emamnazar    Mirzanazar

 

>
>
> Hi
>
> Contruction is started when they have  contract signed with the
> Contractor and TRANSFERED money to a Contractor. It was announced in

> Gulf, that Aristocrat investment have signed a contraact with

[emam nazar mirza]

Hi Dears:      There is 3 ways lift for us.
       1-Ask for concellation
       2-Ask for concellation
      3-Ask for concellation
 
         no other way to continue with the projects and real estate market wich in over priced so manytime and over suplied  20 times at least.
          
 
 
 
 
 

 
> Date: Sun, 12 Apr 2009 04:09:19 -0700

> Subject: [Dubai Property Investors] Re: Aristocrat Star Investments

> From: seraj.m...@gmail.com
> To: dubai-proper...@googlegroups.com

[Aliya Shayakhmetova]

FOR THOSE WHO BOUGHT UNITS WITH ARISTOCRAT EARLIER THAN AUGUST 2008!

THIS IS LAW N 8. I'm not very sure, but I remember that my lawyer said
Aristocrat registered only in August 2008.

http://www.rpdubai.ae/rpdubai/SharedFolder/reraDocs/Laws/EN/No08_2007.pdf

You may use it as a reason for cheating and criminal case, but first
check wiht RERA when exactly Aristocrat as registered him with ESCROW
account.

[Fahim]

Dear All,

I have booked an office in Regent Business Park (West Wing Gate 4) on June 2008 with 15% down. Is there any news on this project or developer?

Regards

Fahim

[Nader]

Dear all about Tanmiyat apartments I went to land department and they checked and told me that most of them are cancelled .!!! What is the Law ? What is our rights? At this point ? The projects are cancelled by land department , what should we do? Please if any one knows tell me. 

Thanks

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[Asif Kamil]

I had booked 2 apartments in Reliance tower 8 five years ago and had paid around 40% each . 

Last month friend of mine based in Dubai emailed an address which Is as follows .

liqui...@rera.gov.ae

The only reply I got till now is " Thank you for your email . If your project within the cancelled projects list we will contact you very soon when the project liquidate process arise." 

May god help us all . Hope this will be little help for you . 

Regards 

Asif kamil 

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[Shah]

Hi every body 

Any body got any news royal estate dubai investment park. Developer name is star investment .

Regards

Shah

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[Punit bhatia]

Really!..Nader I had received a call from Tanmiyat 3 to 4 days back offering discount in lieu of the delay that has happened..I am scheduled to meet them in person @ 25th.....let me have this meeting and update you guys....meanwhile, did anyone else receive a similar call from Tanmiyat

[hel44466 .]

Hi please check recent article in press

 

/did-you-lose-money-on-failed-dubai-property-projects

http://www.propertyforum.com/property-in-dubai/did-you-lose-money-on-failed-dubai-property-projects.html

 

 

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[Sandi Fryer]

I haven't seen any movement since that article and that was 8 months ago!

[Awakash Bodiwala]

Any word on German Sports Tower 2 in Dubai Sports City?  I could have been renting by this time!!

[Asif Kamil]

People living in Dubai can be more helpful . Would appreciate any update from them on cancelled projects.

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[sanca...@gmail.com]

What about Dubai Waterfront? I.e. Turquoise????

Sent from my iPad

[Awakash Bodiwala]

What's sad is the RERA site - http://www.dubailand.gov.ae/english/Tasjeel/Transactions/Dashboard.aspx.  The page doesn't even load.  The government is so sad, not even helping out investors who are trying to help the country grow.

[rs]

Today when I checked Royal states project status on land dept website, it says that the project is Cancelled and sent to liquidation committee.  Is anyone aware what are the next steps to collect monies paid.

Please advise urgently.

Thanks

[Shah]

Hi sir 

I am one of the investor in royal estate and in touch with developer they already made 1st phase of town houses. May be they have cancelled other bit of  the project. On rera website it does show cancelled which I mentioned to developer but he denied project cancellation.

Regards

Shah

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For more options, visit https://groups.google.com/d/optout.

[Agent .ae]

We are reviving and old project, that has also gone to liquidation.

but LIQUIDATING is not so easy.

In theory... the plot + any construction will be auctioned off... and the proceed split among the registered 'pre-owners'

In practice they are encouraging companies to step up and try and complete the stalled projects.

Terms and conditions to favor the completion... to keep DUBAI on track.

BUT, if a new owner takes over - on a project that has been cancelled;

they will a) want you to complete the payments as per SPA b) offer you a settlement (which most likely will not be fair compensation)

(just a bite-size tidbit on how it unravels)

[Dr. Fahim Akhter]

I do not know the latest. I have booked office with them. Please keep me posted for any update.

Please post the link which mentioned that this project is cancel.

I have all of those of invested in The Royal Estate project will get their money back.

For more options, visit https://groups.google.com/d/optout.

[fa]

alot pf the developers are still doing that.