I recently booked an office with Dynasty Zarouni in the highly advertised Ebony Tower.
I have been baffled ever since I bought it because my office space as per my contract is 14,664 sq ft and
I came across a shocking document of MoU signed between DZ and Al Fajer Properties along with the spreadsheet of sales and floor plans which clearly states the floor size to be 11,300 sq ft.
This difference roughly amounts to be 30% and is an indigestible difference.
Transparent calculations have shown that DZ has already or in some cases is currently receiving premiums from the contract.
The part that sends a shiver down my spine is that DZ does not have an escrow account
With the kind of scams going around these days, I have a series of questions starting....
What happens if Al Fajer is telling the truth about the floor space and DZ isn’t
How do we get re imbursed... blah blah... especially if there is no escrow
Who is Hilal Zarouni and Kabir Mulchandani
Why is Gulf News mis representing the facts. Isnt it a very credible news source?
What is the procedure for taking legal action!
Alot of things don’t make sense here and I hope I can find some answers
There is a big “IF” attached to my presumably new office set up i.e if DZ is not a total hoax
In one case, I m losing quite alot and in the second one I stand to lose everything.
Confusion!
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31 comments:
Im sorry to hear this..you should go to Rera now, try to find other investors and form a group..
Zayed Bin Khaleed …do any of you know who the shareholders of Dynasty Zarooni are???!!!!! Hilal Zarooni and a guy called Kabir Moolchandani…you need to check out this guy’s history .. he is still wanted for fraud and tax evasion in India .. http://www.konkanuae.com/home/news.asp?id=916
That’s why he keeps his head down not to be noticed by the Dubai authorities
Read this..he was arrested in India..so threatening people is not something new to him
http://www.indianexpress.com/res/web/pIe/ie/daily/19991104/ige04079.html
This is a very bad representation of indian business community... at anytime Kabir Mulchandani can wrap up his operations and disapear with hundreds of millions of peoples money....if you call the numbers advertised on paper... they will verify the area being sold but you have to present yourself as a floor buyer and if they suspect you are asking too many questions, you will be told that it is sold out!!!
But what is Al Fajer Properties doing about it? They are the developers, surely they cant allow this to happen to their investors.
wouldn’t really trust Al Fajer if I were you… I have been hearing a lot of stories of trouble surrounding this company.. All investors need to be aware that they do not even have an Escrow account and customers have been complaining to Rera about it now. It gets even worse, Sheikh hasher owns the construction company who is building the towers and they are 14 months behind schedule. Al ahmadiah were awarded this project march 2007 when the foundations were completed and they are still on first floor construction!!!
Al Fajer does not have an escrow account either I just called the legal department of RERA!!!!!!!!!!!I suggest you go to rera now…
People need to know about this… the authorities are now starting a serious crackdown on all such entities.. im sure if you file a complaint there will be action against these parties
Kat: ah well i already said the second part
Its always the developer's fault... don't blame Dynasti Zarooni, Al fajer shouldn't sell without the escrow account. I know for a fact that Al Ahmadiah is incompetent to complete the project thats why I sold my small office unit. They have a delay of over 16 months so far!!!!!!!!!!!!!
Sometimes there is a difference between what is stated in the contract concerning floor space and what is actually delivered because some companies include garage, entrance and elevator spaces, as well as all other common areas as part of the "original" 14000 sq.ft. purchased when in fact your own "private" area would indeed correspond to oly the 11000 sq. ft you mantioned. Not sure this is the case here, you should check your contract and consult a lawyer. If it was not especified in the contract then you should qualify for a reimbursement.
Check more Dubai scandals: http://dubai-real-estate-crisis.blogspot.com/
As per my knowledge, the ebony and ivory towers are registered under the name Jumeirah 8 and 9.
I ve seen it with my own eyes that construction on these sites hasnt even commenced.
If DZ is publicizing construction on final stages, and this thing blows up, then they are in for a lot of trouble.
I read about the property court opening next month.
I think you should be the first to file a complaint. I have heard the court is designed for maximum investor protection.
I strongly recommend
Kabir Mulchandani is wanted in India. Getting arrested is nothing new to him Read this:
http://www.expressindia.com/news/ie/daily/19991104/ige04079.html
I wonder how he is so accepted here or do the authorities even know of his presence in such massive deals?
Once bitten, twice shy.
Kabir Mulchandani is not a man to be trusted. His presence compromises zaroonis, fajar group(owned by Sheikh Mohamad).
This is strange
What is the procedure if one wants their money back in a dubious case like this since there is no escrow.
Who will reimburse(if they ever will)
Reimbursement is very difficult till Al Fajer gets invloved... because they are the Master Developers...
But will Al Fajer now carry on with the project considering the problems that Dynasty Zarooni is creating for itself and AFG???????????
T . I . D
It is next to impossible to get your refund.
I hate to be sharing this with you but previous cases havent been tackled well and new ones keep comin n gettin parked. This is the reality
T . I . D
This Is Dubai
Kabir Mulchandani is behind all this.... trust me i know the guy... its his ole ways o makin a cheap buck!
The towers will be built. What is the completion date again on these towers? As long as they are delivered with in the time frame on the contract how is this different from any other developer in the region? Remember, an escrow account does not garauntee on time delivery. Its the people behind it all that do. I would focus on that first. If I take my money out now, I'll have lost a considerable amount of money. I would rather hold and sell further down the line.
All respect to you in this but there cannot be such open misrepresentation of facts in gulf news. We can even name numerous projects that are delayed, but none, not one of the developers is marketing it with such distortions.
It makes one thing what else might they be up and willing to do.
There has to be accountability for your words.
They became open to criticism the second they released such a massive false campaign in national newspapers
Dubai: Al Fajer Properties and Kulczyk Investment House (KIH) of Poland have agreed to invest Dh225 million in the region through a Real Estate Investment Partnership (REIP).
Shaikh Maktoum bin Hasher Al Maktoum, CEO of Al Fajer Group and chairman of Dubai International Holding has been appointed president of Al Fajer Properties (AFP).
The partnership provides KIH the opportunity to invest in the Jumeirah Business Centre Towers.
Dubaipropertyexperts commenting everywhere on the web supporting Dynasty Zarooni is a total scam by DZ!
Hey property Expert, please post your portfolio here so we can see what other properties ure managing in ur portfolio...
scumbacks!
They wont, because I checked with the real Dubai Property Experts (Registered) and they claim no responsibility for posting such loud comments under their name so its a hoax from Dynasty Zarooni.
SOme guy under the aisa mikey johnson is doing the dirty laundries for Dynasty Zarooni as of lately
heard Kabir is behind bars Today
There is a news KABIR MULCHANDANI has been picked up from his office for some fraud activity in real estate and put in RIFFA police station.
Kindly confirm,if the news is correct.
If it is correct,we will all be finished,this will be the last nail to spoil our next few months of business.
KABIR MULCHANDANI WAS ARRESTED TODAY FROM HIS OFFICE IN DYNASTY ZAROONI BY DUBAI CID. HE IS SLEEPING THE NIGHT IN AL REFAA POLICE STATION. HE HAS 163 CASES AGAINST HIM SO FAR. ALL INVESTORS ARE REQUESTED TO FILE A CASE TO PROTECT THEIR MONEY. HE HAD TRANSFERED ALL THE MONEY OUTSIDE THE COUNTRY BUT WAS CAUGHT ON TIME.
KABIR MULCHANDANI WAS ARRESTED TODAY FROM HIS OFFICE IN DYNASTY ZAROONI BY DUBAI CID. HE IS SLEEPING THE NIGHT IN AL REFAA POLICE STATION. HE HAS 163 CASES AGAINST HIM SO FAR. ALL INVESTORS ARE REQUESTED TO FILE A CASE TO PROTECT THEIR MONEY. HE HAD TRANSFERED ALL THE MONEY OUTSIDE THE COUNTRY BUT WAS CAUGHT ON TIME.
KABIR MULCHANDANI WAS ARRESTED TODAY FROM HIS OFFICE IN DYNASTY ZAROONI BY DUBAI CID. HE IS SLEEPING THE NIGHT IN AL REFAA POLICE STATION. HE HAS 163 CASES AGAINST HIM SO FAR. ALL INVESTORS ARE REQUESTED TO FILE A CASE TO PROTECT THEIR MONEY. HE HAD TRANSFERED ALL THE MONEY OUTSIDE THE COUNTRY BUT WAS CAUGHT ON TIME.
DZ are finished. What has just happened with the arrests of the kabir and Co is just the tip of the iceberg!!
CFO (Rajesh Gupta) has fled the country.
This will soon be the BIGGEST scam news
Rohit can you please get in contact with us:
dubaipropertyvictims@gmail.com
thank you
keith..we have just tried to take dynasty zarooni to a criminal court after taking fall payment for k hotel an not delivering nothing, the prosicuter said there was no crime.what can we do next.
Al Attar Properties Fraud?
Read the following fascinating story:
www.gangstersdaughter.com
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