Reliance projects in Jumeirah Village South

[Ludmila]

Hello everybody!

Last year I've bought a property in Reliance 15 building Jumeirah Village South,
Developer Reliance Investment LLC

In September 2008, turned out that the project has not been approved and the plan of my unit was modified.
In January 2009, in the Reliance office the staff assured me that the construction of the project will start in March 2009. Now it turns out, that the anticipated construction start date will be June 2009.
Is there anybody with projects of Reliance?

[YVZ]

Originally Posted by Ludmila

Hello everybody!

Last year I've bought a property in Reliance 15 building Jumeirah Village South,
Developer Reliance Investment LLC

In September 2008, turned out that the project has not been approved and the plan of my unit was modified.
In January 2009, in the Reliance office the staff assured me that the construction of the project will start in March 2009. Now it turns out, that the anticipated construction start date will be June 2009.
Is there anybody with projects of Reliance?

Hi there
My parents are in Dubai and bought at Reliance 12. They also bought last year, but Reliance (Armada Real Estate) provided them with no contract. After several emails sent to them they said they will prepare the contract in January 09. In January the crisis hit, so my parents want their money back as they are not sure whether this development will continue although 'they' claim it would.

The question is: Do you go to court or not? If not, will the project continue?
If you, how much will you get back if anything?
SUCH A CATCH 21 !!
Would love to get in contact with other Reliance investors
thanks

[Polycarp Ambe-Niba]

Originally Posted by YVZ

Hi there
My parents are in Dubai and bought at Reliance 12. They also bought last year, but Reliance (Armada Real Estate) provided them with no contract. After several emails sent to them they said they will prepare the contract in January 09. In January the crisis hit, so my parents want their money back as they are not sure whether this development will continue although 'they' claim it would.

The question is: Do you go to court or not? If not, will the project continue?
If you, how much will you get back if anything?
SUCH A CATCH 21 !!
Would love to get in contact with other Reliance investors
thanks

I would like to exchange notes with anyone who bought property on the Reliance 15 project at Jumeirah Village South. I bought two studios there and I am worried about the fact that the project has not even gotten off the ground.

[shabnam]

Attention to :
All reliance investors who are willing to take legal action against the developer through dubai procecution ,need to hand over the copy of their payment receipts plus providing claim letter in Arabic language ,against farhang rahavi ez abadi and elham thabeti mehr . noteing that there is no cost for opening criminal case against these criminals.

[George21]

Attention any Dubai offplan property investors:
Does anyone know of any offplan property investors who have instituted legal action against offplan developers for failure to start construction? Any idea of the duration, estimated costs and results of such action. Someone told me the courts are bent on protecting all developers, including even offplan developers unable to deliver. I am considering some legal action against offplan developer to force him to refund my money from escrow account. Can someone advice me. George21

[shabnam]

Attention to all reliance estate development:

- All of the 17 projects has been officialy cancelled by rera and dubai land department on 21-jan -2010. According to the law no. 9 of 2009 and decree no. 6 of 2010,investors of cancelled projects are entitled to be refunded their full amount.

- According to the Emirates Islamic Bank record ,there is no sufficient money in escrow account because the developer (farhang rahavi ezabadi) transfered 90% of investors payments in his personal account back in u.s.a . and ran away from dubai on 30-june-09 to u.s.a.

-All the lands are in the posesssion of master developer nakheel , because farhang rahavi ez abadi has just paid some percentage of the land price to nakheel in order to be able to sell hundreds of off plan units to clients.

[shabnam]

[LB]Attention to all investors of reliance:[/B]

All the 17 projects of reliance estate development is turned to be a big scam caused by farhang rahav ez abadi and elham thabeti mehr.

kindly proceed to dubai public procecution (niyabeh) located next to dubai court, and open criminal case against them.

we are trying to seek help from interpol via dubai police to arrest these criminal in u.s.a.

[Polycarp Ambe-Niba]

If it is true that the Reliance developers escaped to US, how come the Reliance office is still open and they are making alternative real estate investment proposals to buyers of Reliance units? Secondly, how could the bank have allowed the two persons you mentioned to take out 90% of investors' money when funds deposited in escrow accounts cannot be disbursed to developers? RERA is very strict on that, isn't it? Another gross contradiction is that it is safer for money launderers, embezzlers and other thieves to escape and go elsewhere than to the US. It is actually safer for the two persons to hide in the UAE than in the US, isn't it?

[shabnam]

Originally Posted by Polycarp Ambe-Niba

If it is true that the Reliance developers escaped to US, how come the Reliance office is still open and they are making alternative real estate investment proposals to buyers of Reliance units? Secondly, how could the bank have allowed the two persons you mentioned to take out 90% of investors' money when funds deposited in escrow accounts cannot be disbursed to developers? RERA is very strict on that, isn't it? Another gross contradiction is that it is safer for money launderers, embezzlers and other thieves to escape and go elsewhere than to the US. It is actually safer for the two persons to hide in the UAE than in the US, isn't it?

In response to your questions:

- First: there is no alternative or swap. they are trying to sell new units from other developers and just pretending they are deducting the money you have paid to reliance,in fact they are making bussiness by offerring you to buy new flat with the new present price plus ,they make commission out of it from the other developer too. Having mention that , their office is closed ,there is just the same receptionist who works right now for the other companies who has already rented that office since several month ago . infact ,she makes a little money just to pickup the phone for reliance numbers!!

- Secondly:they couldnot take any money from escrow account although they tried so hard since 2008 to do so,infact they suppose to keep investors money in the escrow account according to law ,but they just transfered all the money they could in their own personal account . the remaining amount in the escrow is just the money the poor investors put themselves on the latest months of their payments .
which is nothing according to what they have paid to these *******s.

-Thirdly : WHO ARE YOU?
If you are an investor who are victim in this scam , why dont you go ahead and check everything individully to find out the truth of your investment? government in dubai public procecution and bur dubai police are pretty helpfull.

If you are from developer side, then congratulation, you made so many people suffer , and affected so many families too .I know a person which is in jail right now because of the loan he took from bank for this bloody investment with farhang rahavi ez abadi and elham thabeti mehr.
so many of investors are living outside u.a.e. , they dont speak engilish and they have no clue and no connection of how to get their right back!!

who the hell he thinks he is ? how many years he is going to live in this world to enjoy this **** ?
how can he enjoy and spend this money which came from peoples misery?
soon or late he is going to be in deep **** too. promise.

[George21]

I am shocked to hear that all the money I have been hoping to get from escrow account was transferred into the developers' private accounts! Can all the frustrated investors like me and others not bring a class action against them? Can RERA not intervene to help us?How can we get RERA to help to avoid losing more money in legal fees, especially now that you say there is no money left in escrow account?