These projects will never be built. Regretably, Al Attar used the investors'money to build their own projects which is called Al Attar's free financing scheme. They started the projet as early as 2004. Still no progress in construction and only 5 years of PR campaigns.
This is shame , Al Attar only fraud and cheat the innocent people from all around the word, they never built the tower, and it is a shame ,so is not any organization in Dubai to solve this problem.
Al Attars are just known to be the "fronts" for Afghans and Pakistanis (believed also to include Bhuto Family) with highly questionable background. They are also known to be actively engaged in money laundering using sophisticated financial scheme. It is a shame that this shananigan has gone quiet for such a long time under radar of Dubai authorities. A responsible investigative journalist is needed to look into some of these issues.
So many of us have been stung by these corrupt supposed "Developers". And when you think about it, it just goes to show how flawed the laws in Dubai really are that allows thieving individuals like Al Attar Properties to continue to trade without any punishment. Because lets face it in any other country in the world the laws would see Al Attar's behavior as fraudulent and corrupt and would bring the Directors to justice and have their assets confiscated and repaid back to the investors they've swindled. But NO! Al Attar Properties continue to trade and the ruling authorities of Dubai do nothing leaving the Investor out of pocket and the Directors with huge smiles on their faces. It is highly SHAMEFUL that the Authorities of Dubai do nothing!
The CEO of RERA, Marwan bin Ghalaita has said that in 2010 RERA looked at the Real Estate Market and did an entire audit. He has said that there will be a lot of cancellations this year dependent on criteria. If he is true to his word then projects in IC Phase 3 supposedly built by Al Attar will be canceled because nothing has ever been started and would hopefully come under the criteria of canceled. If this is so then Al Attar would have no choice but to refund the swindled investor. All this is just wishful thinking for now, but Marwan bin Ghalaita is now on record for saying this. One lives, hopes and prays that his words are true. If they are then the Directors of Al Attar Properties are hopefully crapping themselves.
The only other way is to go through litigation through the Property Courts. Al Attar know this and it is costly. But lets face it if the courts ask and want proof of where the allocated money has gone from these developments Al Attar don't have a case to answer for, because we know they've used it for their own purposes not on the developments these installments were allocated for which would work in favor of the investor.
As a fraud victim of al attar fraud scheme I became highly curious to know how a person (?) can inflict such high amount of pain on so many innocent people, so I further investigated the man behind the so called al attar properties development through various people who to some extend new him. Following are some sad findings: Ahmed Al Attar (very deceptive, secretive with cult like lifestyle, insecure yet very arrogant, ruthless yet uses the cover of religion to hide and show himself as compassionate, timid while hiding a lot of dark secrets, never has done any good in his entire life) was very low ranking Etisalat employee. In early 1980’s his father took him to work for one of his relative who was in the business of smuggling gold from Dubai to India. In one of this smuggling trip he did not deliver the cargo to the target and instead sold it to different people in India. Since the proceeds were illegal, the relative could not file legal action against al attar. This was how al attar made his first large illegal money. Then he got into importing wholesale fake brands into Dubai for few years. Eventually got into property business knowing that he can not continue with selling fake products in large scale without being fined, made few small apartments when he managed to get the attention of some of his old customer in India and others who wanted him to be their front man in Dubai. He eventually became a great fronts for a number of people (mostly from Iran, India, Pakistan and Afghanistan) to do business for him through cash (very often he would deposit cash in banks for a fee for them) and always can tell banks that he got them from the proceeds of rents. He eventually got into real estate development fraud as early as late 2004. Sold many apartments mainly targeting low income investors (knowing that they are the least likely to file legal action and launch complaint at later dates). Through great marketing campaign (offering free car/Dodge Durango) using local and international newspapers and magazines also participation in various real estate exhibitions sold thousands of apartments (seven apartment buildings such as Vue de Lac, Vista Del Lago , Toronto Tower, Vancouver Tower, Global Point, Polaris, Skyscraper and 1000 villas in Jumairah Village area) in many occasions selling the same title to more than one investor. He embezzled hundreds of investors out of their savings. With the investors money purchased the current “Al Attar Business Tower” (previously know as Kendah House). Ironically this even further increased the investors’ confidence that Al Attar would deliver what he promised! He used the same venue (al attar business tower) to further market his properties. Many more investors flocked to al attars and purchased properties during the real estate boom. He would not refuse any price since he did not intend to deliver. Remember that many of al attars are not necessary computer educated or even literate to express their opinion using social media. At later stage, he also intimidated some of investors by saying that he has some partnership with the royal family in Dubai through some of his employees and that if they launch any complain their visa gets cancelled. He also was dismissing any of his employees as soon as they suspected about al attar frauds. This kept him ahead of game for so many years. In addition he used the gimmick of stating that he is going to build own factories related to construction (never built any, can see some of news article before) so that is the reason he can afford the very competitive price he is offering to his customers. One big loophole that he used in his contract early on was that he did not make link between the payment installments to the construction milestone; therefore, he continued charging the investors (some paid as much as 85%) without laying a single brick.
iv also been scammed i think i paid 50% in total and want to know whats going on as miss sonia was a rude bitch and i think somethink needs to be done. can any one help or know of a way to get my hard earned money back? my number is+971552230468 tariq khan
Al Attar properties in Dubai is also likened with property development fraud. They promised construction of seven towers and one thousand villas back in 2004. However, they delivered none.
.JPG)
These projects will never be built. Regretably, Al Attar used the investors'money to build their own projects which is called Al Attar's free financing scheme. They started the projet as early as 2004. Still no progress in construction and only 5 years of PR campaigns.
ReplyDeleteAl Attar's Developments are very similar to "Al Boom Case"; however, it is a shame that this has gone unreported and quiet for very long time.
ReplyDeleteAnother good example that shows similarity with Al Attar is Dynasty Zarooni group.
ReplyDeleteWe should not expect much better from Al Attars as they are the most hated people in Dubai. They are money grabing sharks.
This is shame , Al Attar only fraud and cheat the innocent people from all around the word, they never built the tower, and it is a shame ,so is not any organization in Dubai to solve this problem.
ReplyDeleteAl Attar Properties
ReplyDeleteAl Attar = Madoff + Goti
Al Attars are just known to be the "fronts" for Afghans and Pakistanis (believed also to include Bhuto Family) with highly questionable background.
They are also known to be actively engaged in money laundering using sophisticated financial scheme. It is a shame that this shananigan has gone quiet for such a long time under radar of Dubai authorities. A responsible investigative journalist is needed to look into some of these issues.
So many of us have been stung by these corrupt supposed "Developers". And when you think about it, it just goes to show how flawed the laws in Dubai really are that allows thieving individuals like Al Attar Properties to continue to trade without any punishment. Because lets face it in any other country in the world the laws would see Al Attar's behavior as fraudulent and corrupt and would bring the Directors to justice and have their assets confiscated and repaid back to the investors they've swindled. But NO! Al Attar Properties continue to trade and the ruling authorities of Dubai do nothing leaving the Investor out of pocket and the Directors with huge smiles on their faces. It is highly SHAMEFUL that the Authorities of Dubai do nothing!
ReplyDeleteThe CEO of RERA, Marwan bin Ghalaita has said that in 2010 RERA looked at the Real Estate Market and did an entire audit. He has said that there will be a lot of cancellations this year dependent on criteria. If he is true to his word then projects in IC Phase 3 supposedly built by Al Attar will be canceled because nothing has ever been started and would hopefully come under the criteria of canceled. If this is so then Al Attar would have no choice but to refund the swindled investor. All this is just wishful thinking for now, but Marwan bin Ghalaita is now on record for saying this. One lives, hopes and prays that his words are true. If they are then the Directors of Al Attar Properties are hopefully crapping themselves.
The only other way is to go through litigation through the Property Courts. Al Attar know this and it is costly. But lets face it if the courts ask and want proof of where the allocated money has gone from these developments Al Attar don't have a case to answer for, because we know they've used it for their own purposes not on the developments these installments were allocated for which would work in favor of the investor.
view the recent gulf news article at:
ReplyDeleteJust view the following link:
http://gulfnews.com/news/gulf/uae/housing-property/vue-de-lac-towers-towering-trouble-in-dubai-1.785450
As a fraud victim of al attar fraud scheme I became highly curious to know how a person (?) can inflict such high amount of pain on so many innocent people, so I further investigated the man behind the so called al attar properties development through various people who to some extend new him. Following are some sad findings:
ReplyDeleteAhmed Al Attar (very deceptive, secretive with cult like lifestyle, insecure yet very arrogant, ruthless yet uses the cover of religion to hide and show himself as compassionate, timid while hiding a lot of dark secrets, never has done any good in his entire life) was very low ranking Etisalat employee. In early 1980’s his father took him to work for one of his relative who was in the business of smuggling gold from Dubai to India. In one of this smuggling trip he did not deliver the cargo to the target and instead sold it to different people in India. Since the proceeds were illegal, the relative could not file legal action against al attar. This was how al attar made his first large illegal money. Then he got into importing wholesale fake brands into Dubai for few years. Eventually got into property business knowing that he can not continue with selling fake products in large scale without being fined, made few small apartments when he managed to get the attention of some of his old customer in India and others who wanted him to be their front man in Dubai. He eventually became a great fronts for a number of people (mostly from Iran, India, Pakistan and Afghanistan) to do business for him through cash (very often he would deposit cash in banks for a fee for them) and always can tell banks that he got them from the proceeds of rents. He eventually got into real estate development fraud as early as late 2004. Sold many apartments mainly targeting low income investors (knowing that they are the least likely to file legal action and launch complaint at later dates). Through great marketing campaign (offering free car/Dodge Durango) using local and international newspapers and magazines also participation in various real estate exhibitions sold thousands of apartments (seven apartment buildings such as Vue de Lac, Vista Del Lago , Toronto Tower, Vancouver Tower, Global Point, Polaris, Skyscraper and 1000 villas in Jumairah Village area) in many occasions selling the same title to more than one investor. He embezzled hundreds of investors out of their savings. With the investors money purchased the current “Al Attar Business Tower” (previously know as Kendah House). Ironically this even further increased the investors’ confidence that Al Attar would deliver what he promised! He used the same venue (al attar business tower) to further market his properties. Many more investors flocked to al attars and purchased properties during the real estate boom. He would not refuse any price since he did not intend to deliver. Remember that many of al attars are not necessary computer educated or even literate to express their opinion using social media. At later stage, he also intimidated some of investors by saying that he has some partnership with the royal family in Dubai through some of his employees and that if they launch any complain their visa gets cancelled. He also was dismissing any of his employees as soon as they suspected about al attar frauds. This kept him ahead of game for so many years.
In addition he used the gimmick of stating that he is going to build own factories related to construction (never built any, can see some of news article before) so that is the reason he can afford the very competitive price he is offering to his customers. One big loophole that he used in his contract early on was that he did not make link between the payment installments to the construction milestone; therefore, he continued charging the investors (some paid as much as 85%) without laying a single brick.
iv also been scammed i think i paid 50% in total and want to know whats going on as miss sonia was a rude bitch and i think somethink needs to be done. can any one help or know of a way to get my hard earned money back? my number is+971552230468 tariq khan
ReplyDeleteAl Attar properties in Dubai is also likened with property development fraud. They promised construction of seven towers and one thousand villas back in 2004. However, they delivered none.
ReplyDeleteFind some link on al attars:
http://gulfnews.com/news/gulf/uae/housing-property/vue-de-lac-towers-towering-trouble-in-dubai-1.785450
http://gulfnews.com/news/gulf/uae/housing-property/jlt-owners-still-waiting-for-homes-promised-in-2007-1.526478
http://www.skyscrapercity.com/showthread.php?t=187744&page=2
http://www.arabianbusiness.com/investors-file-case-with-rera-over-dubai-project-delays-11559.html
http://www.constructionweekonline.com/article-6698-disgruntled-investors-storm-rera-office/
http://www.ameinfo.com/95623.html
http://www.ameinfo.com/75118.html
http://www.khaleejtimes.com/DisplayArticleNew.asp?section=theuae&xfile=data/theuae/2011/january/theuae_january199.xml
http://www.arabianbusiness.com/dubai-developer-wants-18-5m-from-investors-8928.html
This is a fascinating story about Al Attar Properties:
ReplyDeletewww.gangstersdaughter.com