Sign Petition

RERA Help us

479 Signatures Goal: 5,000

We are all investors in Dubai Property Market.
Many of us wanted a holiday home in Dubai for our families and before that, we were part of the successful Tourism Industry that frequents Dubai every year. Some of us were planning to make Dubai our new home. We are not gamblers or speculators that invested beyond our means.

Our money was supposed to be protected by the escrow accounts. It is now 2012 with no end in sight...

The Developers have defaulted on mass scale since according to our contracts our projects were supposed to be completed between 2008 and 2010. Until today we have not received any request for an extension of our contracts and no explanation about why the projects have been stalled. Many of us were asked for more money and some of us were told that the construction was in progress when it was not. Many projects have stalled for years, but those Developers are still allowed to hold our money until "the market improves".

Despite numerous contacts with RERA our rights have not been upheld. Furthermore, RERA is delaying the cancellation of non-vital projects. We feel that this inaction has an additional negative impact on the Dubai economy and more precisely on its real estate market.

It is our belief that if RERA applied the law equally to Developers and Investors, we would be allowed to choose to receive refund of our money as per our contracts and could then reinvest the money in viable projects. If the Developers have misused the money they should be penalised according to the law.

We, the undersigned hope for the best future of Dubai. As Investors in Dubai we ask:
1. The Government to stop the Developers demands for additional payments beyond those already contracted;
2. To provide every Investor with escrow/trust fund/invested money information in every project in Dubai so Investors can make informed decisions about their future involvement in the projects;
3. Create new escrow accounts for new payments,
4. Require the Developers to use the money already invested into the projects to complete them;
5.Mediate disputes between investors and Developers and come up with practical solutions -don't send everybody to courts.
6. Enforce the law equally to Developers and to Investors. Be real Regulatory Agency. Do not let us down. We build buildings, not the Developers.

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  • Mike
    Mike Canada, Calgary
    Aug 20, 2015
    Aug 20, 2015
    We are stuck with the same problem. Our project global green view 2 was revived by empire Arabia who lied to us and dragged on time only to serve us a letter to pay outstanding owed or risk default. They are bullying us and it's impossible to fight with them in their own playground when we live in Canada. Both they and the former developers defrauded us ,misrepresented and breached everything. RERA and DLD never replied back and their numbers are blocked. This the entire situation and city is corrupted where they give the developers more rights then investors. We don't know what to do next as court fees cost a lot and no lawyers are willing to do contingency basis or pro bono. Anyone else have units stuck in global green view 2 and 3 as well?
  • Mike
    Mike Canada, Calgary
    Aug 20, 2015
    Aug 20, 2015
    We are on the same boat. Our project was revived by a new developer but they dragged on time and lied to us and is trying to force default on us. We tried emailing and calling DLD and RERA but always unreachable. Seems like there is a lot of corruption and the government seems to favor the developers and not the investors.
  • Anonymous
    Anonymous
    Aug 13, 2015
    1
    Aug 13, 2015
    We have two units in limbo but been revived and now they are forcing us into default. We were told we could sell them but they dragged on time then served us. We told them we wanted a refund then they told us to call our lawyers. They are shady and corrupted down there. Stealing thousands of people's money. RERA never replied back. We need something to be done as court fees are expensive. Please email me back. Thank you,
  • Iftikhar Ahmad Khan
    Iftikhar Ahmad Khan United Arab Emirates, Dubai
    Jul 03, 2015
    Jul 03, 2015
    Jouri-II, B-306 and B-307 studio flates
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479

Signatures

  • 3 months ago
    NA Choudhury United Kingdom
    3 months ago
  • 10 months ago
    Mike Canada
    10 months ago
  • 12 months ago
    Iftikhar Ahmad Khan United Arab Emirates
    12 months ago
  • 1 year ago
    manjit singh
    1 year ago
  • 1 year ago
    Mike
    1 year ago
  • 1 year ago
    Ashfaq Ahmed Sheikh
    1 year ago
  • 1 year ago
    maham
    1 year ago
  • 1 year ago
    John. Robertson
    1 year ago
  • 1 year ago
    Hamid Amir
    1 year ago
  • 1 year ago
    ike makansi
    1 year ago
  • 1 year ago
    Jesse Kanga
    1 year ago
  • 2 years ago
    Getacheu Sikore Gebries
    2 years ago
  • 2 years ago
    Claire Jones
    2 years ago
  • 2 years ago
    Malak Bakhtiari
    2 years ago
  • 2 years ago
    Farhad Gholami
    2 years ago
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