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The PetitionWe are the 2005/07 Investors of international city phase 3 Many of us thought we brought turnkey apartments with garenteed rents for three years ,end user finance etc ,some brought as a second home or to live in dubai Our money was supposed to be protected by the escrow accounts. the land is full of sand with no apartment, yet the money is gone out of the escrow The Developers have defaulted on mass scale since according to our contracts we ar entitled to refunds ,developer is saying we have spent your money and we are not getting a refund ,how dare they spend our money without building anything ,blamming us the investor for not giving anymore money ,this was not in the contract all we get from rera is go to the courts ,we have to go to arbitration and this costs over 20000 pounds more than our investments ,i think the developer is laughing all the way to the bank with the goverment making it so difficult to go down the legal route gpd investments are ignoring the contracts ,lied about what we brought ,ignore our emails and then with our money is in dubai, sponsering horse racing , RERA have ignoed us to and do not answer emails ,unless dubai goverment departments do somthing about this no one will invest in dubai again RERA have not cancelled the project even though the developer has no money or is not going to build ,if they cancel at least we can look at their personal assetts ,maybe they wont be so smug ,these developers are protected to much we feel arbitration should be cheaper ,arbitration and the law should allow to negotiate as a group not individual arbitration ,if the developer can ignore the contract then why cant the dubai goverment 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 it seems you get put in prison for bouncing a cheque but can get away with stealing millions of pounds from investors the dubai goverment need to realise ,we investors invested in dubai because of the low crime rate and their values ,now it is full of legalised theives ,they need to clean up their act quickly or dubai will become desert once more We, the undersigned hope for the best future of Dubai. As Investors in Dubai we ask: 1. The Government to cancel these unviable projects 2. To provide every Investor with escrow/trust fund/invested money information in every project in ic3 so we know where our moneys gone 3 look at alternatives to arbitration ,if the developers have no respect for the contract them why should we 5.Mediate disputes between investors and Developers and come up with practical solutions -don't send everybody to courts. Sign petition

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