# Refund for Cancelled Property Project



## Houstonian (Apr 20, 2011)

Hey everyone, I'm looking for some information for getting refund from RERA for a cancelled project. My brother invested some money here and the projects were on hold, and recently found out that one of the project has been cancelled and investers can get the refund, however I've no idea on how to do that (I live in Dubai). Tried calling Rera and got a number for someone who deals with refunds but she never picks up.

Is there anyone here who has any information about this process, will much appreciate your help.


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## M.A.K (Sep 14, 2011)

Can you let us know which project it is... some need litigation...


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## Chocoholic (Oct 29, 2012)

To be honest it can be a very difficult process. Do you know why the project was cancelled? If the developer has run out of cash, then obviously trying to get something from nothing is going to be very hard.

Sadly I know so many people who have just had to walk away.


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## M.A.K (Sep 14, 2011)

Most developers usually have their project attached to an escrow account and the ones that are cancelled are usually because they haven't really started any work on the project so ideally they should still have money in the escrow... Law 9, of 2009 says if project is cancelled everything should be refunded...


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## rajthechamp (Jan 30, 2013)

Depends on project - i would imagine there is no easy way. Kindly advise which project so we can help u.
Raj



Houstonian said:


> Hey everyone, I'm looking for some information for getting refund from RERA for a cancelled project. My brother invested some money here and the projects were on hold, and recently found out that one of the project has been cancelled and investers can get the refund, however I've no idea on how to do that (I live in Dubai). Tried calling Rera and got a number for someone who deals with refunds but she never picks up.
> 
> Is there anyone here who has any information about this process, will much appreciate your help.


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## Houstonian (Apr 20, 2011)

Thanks guys for the responses, project name is Global Golf Residence 2. Don't have much information right now but will ask my brother about it.


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## Fizzer (Apr 24, 2013)

Has anyone purchased in dubai sports city?


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## Fizzer (Apr 24, 2013)

Houstonian said:


> Hey everyone, I'm looking for some information for getting refund from RERA for a cancelled project. My brother invested some money here and the projects were on hold, and recently found out that one of the project has been cancelled and investers can get the refund, however I've no idea on how to do that (I live in Dubai). Tried calling Rera and got a number for someone who deals with refunds but she never picks up.
> 
> Is there anyone here who has any information about this process, will much appreciate your help.


Which projects?

I can understand the frustration, it appears they don't like giving out any answers, you mention you live there, it might be an option for you to go there personally. Would like to keep in touch also. As a newbie can't post any links.


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## Jumeirah Jim (Jan 24, 2011)

a refund from RERA 

I seriously hope you're having a laugh. 

Hahahahahahahahahahahahahahahahahahahahahahahahaha

RERA, the govt,giving refunds for bad investments by foreigners 

Surely nobody is so green to think that's even the remotest of remote possibilities, please 

Seriously there is and certainly have been a whole host of terrible things going on in the real estate sector since '08 at least. That's what happens in developing markets. Risks are high and so should be returns. 

The idea that any govt should underwrite such real estate speculation beggars belief!


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## Fizzer (Apr 24, 2013)

Jumeirah Jim said:


> a refund from RERA
> 
> I seriously hope you're having a laugh.
> 
> ...



Not so sure what you find so funny. It's something obviously that hasn't affected you personally or anyone you know. Bad decision made by investors ???? puleeeeeeeeeeese. These developers in general were registered and approved by RERA. Why do you think it's a bad decision made by investors? 

What about the fact that the developers have been let loose to rob investors blind never delivering according to contract. Many of these developers launched more projects and took the money from investors telling them that all was progressing. Lying and deceiving customers, what would you do if this happened to you? Let it go? It's a joke that RERA who was established to be the regulatory body doesn't do anything just brag about this protection for investors. As for foreigners, without them Dubai's economy wouldn't be going anywhere, it thrives only on people investing, that's what they did to save themselves, take the money from investors and to save themselves during a crisis. See if anyone wants to buy off plan there anymore, it's ruined because of the scams and for this Dubai is the one to suffer as no one in their right mind would invest there once bitten.

I find your comment pretty weak. I'm new to this forum but that's just below the belt. People purchased believing that a contract meant something, obviously not. It beggars belief that you are totally removed from the facts. The govt did guarantee that all would be safe in 2003, didn't you see the rulers speech where he made it clear that he would take responsibility but he ensured that people would be safe as only the best would be selected to develop.


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## Fizzer (Apr 24, 2013)

RERA was established to regulate, they have done nothing. RERA also claimed that you could only trust those developers registered with them, so what happened? So who are supposed to take notice of when RERA approved these rogue developers and have done nothing to impose fines on them. They have the power to do this and have done nothing and let it go.


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## Fizzer (Apr 24, 2013)

Houstonian said:


> Thanks guys for the responses, project name is Global Golf Residence 2. Don't have much information right now but will ask my brother about it.



That's in Dubai sports city, know the area as have people invested in other projects which to date have not been completed.

I can't post any links but there is a petition going around so you may wish to sign, let me know.

Found this on another forum. Don't think this one went anywhere just like the rest on the list here

NEVER BUILT/CANCELLED

BANGASH RESIDENCES,
CROWN AVENUE, ( plot for resale available)
FORTUNE PAVILLION
ARCHERY TOWER
RUFI CENTURY
GLOBAL GOLF RESIDENCES 1
GLOBAL GOLF RESIDENCES 2
SPORTS TOWER 3
UNIVERSAL TOWER,
SYMPHONY TOWER
ORBRIT TOWER, (TONINO LAMBORGHINI TOWER, )
PROFILE RERSIDENCES
RASCOM TOWER,
SOCCER TOWER
SAMA WORLD CUP TOWER
ZENITH A3


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## Fizzer (Apr 24, 2013)

Houstonian said:


> Thanks guys for the responses, project name is Global Golf Residence 2. Don't have much information right now but will ask my brother about it.


Sorry I didn't see this earlier and asked which ones they were, have responded as it doesn't look good at all. Most in DSC are just holes. See my previous reply.


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## Fizzer (Apr 24, 2013)

Houstonian you may wish to look at that other forum as it may be of some more help to see what's been happening. The place isn't going anywhere and your brother unfortunately like most there has lost. Sorry to hear this but it has happened in many projects there.


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## Fizzer (Apr 24, 2013)

Join up and share the link if involved in DSC or the projects listed

https://www.facebook.com/pages/Oasis-Tower-1-and-Oasis-Tower-2-Investors-DSC/486559651409300

https://www.facebook.com/groups/565016310209611/


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