Registered Ajman property investor losses - AED 115,224,238 $31,396,250 £20,004,208 ...... and counting.

Ajman Investors has been set up to capture anonymous information from Ajman investors who are experiencing losses in the property market in Ajman, UAE and have found ARRA and the Ajman Government less than helpful. It is fact that developers had to purchase land with our money, from the Ajman Government, then went bust. So our hard earned money sits with the Ajman Government and they will not give it back to us, paramount to theft on a global scale.

We now total 402 investors registered on this site with losses or problems with property investments in Ajman, with total investments at risk of a staggering AED 115,224,238 and the list just keeps growing daily, highlighting substantial property investment problems that need to be addressed in Ajman, which we estimate could be a staggering AED16 BILLION (AED16,000,000,000) across thousands of investors worldwide.

Background

We are a group of individuals struggling to recover money from developers in this UAE Emirate. These developers have put "on hold" the building of the properties we have put money into in good faith. The reasons we are struggling to get our money back, typically made in the form of reservation fees, are as follows;

ARRA, the body set up to oversee the developments by the Government, are refusing to issue cancellation notices to certain developers, even though those developers have not followed laws and registered with ARRA by May 2009.
The law or decree 8, states that such property developers must register with ARRA and have an ESCROW account, to protect investors. This is not being policed correctly by ARRA, set up to be responsible for this action.
As a result of the above, developers who have put on hold their developments, are refusing to hand back reservation fees to their investors.
Courts lack development and structure that would allow successful results in a legal fight to attempt recovery of these funds, or to team up to form an efficient class action from a group of investors.

What we are not!

We are not:

a set of money grabbing lawyers, looking to gain from our sad situation.
in any way affiliated to ARRA, in fact, we want to embarrass them into action and supporting us getting our money back, that has effectively been stolen from us.
an agent selling property, or representing any developer.
in any way wishing to benefit from your investment situation - only to help raise the visibility of your situation. There will be no advertizing on this site.
in any way linked to the Government in this UAE Emirate.

We need your help!

If you are in a similar situation to ourselves, in fear of losing your investments, or have been refused refunds, we want you to register yourself on this site under the REGISTER button at the top. This is an anonymous petition request. We want to demonstrate the extent of this fraudulent activity to the UAE Government, as well as to worldwide Governments in affected countries. The theory is that if enough people register their discontent and potential losses, somebody is going to start to sit up and listen to our desperate situation.

Please take a few moments to take action and help us to take action on your behalf, to change this situation. All we are interested in is numbers affected. We don't want your email address (this is totally optional in case you wish to stay in touch with us), nor last name, nor address. We are simply wanting your first name, the county / state you live in and the amount in AED currency that you feel you have at risk, or have been unable to recover (refused refund). Optionally, we are interested to know the development and developer, so that we can gain a pattern of which are the worst developments affecting investors and who are the worst developers, so that we can highlight them to Authorities in the UAE.