17
May 11

“No Refunds to Plot Owners”

“No Refunds to Plot Owners”

“There will be no refunds to plot owners… I am developing The Lagoons” says Khalid Al Malik, group CEO of Dubai Properties Group to Emirates 24/7. As the Dh64bn project has not yet been cancelled, investors and plot owners are not entitled to any refunds. This brings the Dubai Creek project to yet another halt.

“I don’t owe them and I am not going to commit the mistakes of the past”, Malik says.

This statement came as a response to a private developer who raised the question of refund, based on the project being stalled. The developer now says they are weighing the options of taking Dubai Properties Group to court. According to Malik, “The market needs to pay us the billion they owe us so as to enable us to deliver and not ask for infrastructure without paying their dues.”

The Lagoons was launched by Sama Dubai, now under Dubai Properties Group, in 2006.

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  • Abid Ajmal

    This is regarding dispute with M/s Chapal World LLC, 109 & 110, Building 6, Emaar Gold & Diamond Park, Sheikh Zayed Road, and P.O. Box 282158, Dubai-UAE. (Phone # 800242725 and +971 4 3477882 Fax +971 4 3415506).

    I booked an apartment in a project launched by Chapal “Dunes” in Ajman during June, 2008. According to clause of the Agreement, in the event of cancellation at any time after the signing of the Agreement shall result in the forfeiture of the reservation amount. Non refundable Booking / Token money was Dhs.5,000/-.

    Due to unexpalined reasons, the project never started. I understand that the project has been abondened and will be constructed.
    I was informed that whatever I have paid will not be refunded. Total cost of the unit is Dhs.394,405.00. I have paid Dhs. 59670.00 so far.

    I am neither aware nor informed about any other rule regarding deduction/forfeiture of %age of the cost of unit in the event project is abondened by developers i.e., Chapal World LLC. All I have is a piece of Agreement signed by me and Chapal World LLC.
    I can not afford to lose my savings / investment. Going to Court and pleading case is very difficult as I do no live in UAE.

    Investors have complete trust and lots of hope in UAE institutions. Proper regulations and monitoring will go a long way to restore confidence of investors.

    I seek help to get refund of amount paid to Chapal World LLC without any further delay.

    I thank you in advance for your assistance and co-operation in the matter.

    Kind Regards,

    Abid Ajmal
    Cellular: +92-3212011191
    Day time Phone #: +92-212410783 Res: +92-215343020
    Email:abid.ajmal@hotmail.com