Quote:
Originally Posted by PropGuy
If it is escrow account and construction not started then you should get your money back.
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The Palisades is a great project, one which was conceved by a very good concept design company Storm Associates of Dubaim who sadly are no longer involved.
The problems with the project started many months ago when the designers of the project were not paid for their work and they subsequently stopped work. The incomplete project was then taken on by another design company who know nothing of the original design principles conceived by the design company's (Storm) Mr. Barry Swayn, the originating architect, Mr. Malcolm Copson, the projects director and Mr. Mufid Abukishek, the company's marketing director. Their contact numbers are all included in the company web site, they may be able to provide you more information.
Together with this, the principle owner of the palisades project company (Pearl Properties which is owned by His Highness Sheikh Issa bin Zayed) has received many bad press reports for the torture of a number of individuals (all reported on CNN and in the british press).
How do I know all of this, I am a resident of Dubai and I know the sad history of this great project well. Please be careful if you are thinking in investing in this project.