Here is a post from Emirates City Forum:


I was advised to contact my developer - and request that all PDC's be returned, which I would replace with cheques issued to the new Escrow account. Have been trying to contact the developer, and they say they need more time to set up the Escrow Account. My developer is Sweethomes.

Also, there was a post on Skyscraper City by Ajman_Lover - as follows - about the newly set up AJMAN RERA .... I am reposting below;

A good news for eveybody. From one of my real estate friend, I got some information about AJMAN RERA. The fulflashed office is started in OLD MUNICIPALITY BUILDING & full flash customer supprt office for AJMAN RERA started. Anybody affected peron can visit beween 8 AM to 2.00 PM at their office to lodge your compalint. The staff is very supportive to listen.

Still the office telephone number is not publised officially, so i am not liable for any change/authorised or not. But in interest of my beloved Ajman reputation among investors, anybody can try 009716-7444144 ( Telephone) & 06-7444145 ( Fax ).

One customer support executive communicate me that no need to pay any rest amount direct to developer. Lodge your complaint with the name of developer, who still not register for AJMAN ESCROW account,& this AJMAN RERA seems connected with Ajman rulars Court( Division of property Regulation).

So, give a big hand to AJMAN GOVT. for great initative & don't write bad for AJMAN.

The rest matters better you speak to AJMAN RERA suppott executive regarding PDC cheques return, CONSTRUCTION BASED PAYMENT etc. as I am not a investor.

Dubai Real estate sector - July 2009 update

For instance, Nakheel has announced that parts of the Dh.350bn Jumeirah Garden City, the Trump International Hotel, the Tower on Palm Jumeirah, and the kilometer-high tower will be put on hold.

Even work on 'The Universe' will be restricted to preliminary studies, Nakheel said. Decrease in liquidity and financing has led to delay in progress of such projects, resulting in these projects bearing the brunt of financial turmoil. The mega-projects that had earlier brought about a property boom in Dubai, have now been put on hold.

Limitless too, revealed that it is reviewing construction schedule of Arabian Canal. The Head of Dubai's RERA, Marwan bin Galita, said that developers need to review their projects which are yet to be launched for sale. Recession is a very crucial phase, and RERA had been urging developers to do this about a year back, Galita said.