Monthly construction progress update
Petition Background InformationDate : Nov 17, 2008, 1:16 amPetition Community : Members of the Emirates City ForumPetition Target : Master Developer R Holdings and other developers of Emirates City, AjmanEligible Signatories: Investors of the Emirates CityPetition StatementAttention: R Holdings, Master Developer of Emirates City, AjmanCc: All developers of the Emirates City, Ajman We, the undersigned, have invested our money in the Emirates City and wish to bring to your attention the following concerns: The Emirates City was launched in mid 2006 and was supposed to be completed by 2010 (ref. R Holdings website). However, it is clear from the current status of construction that the planned completion dates will not be met. This is extremely worrying to those of us who planned to live in the Emirates City, and those of us who expected to see a return on our investment within a certain number of years. What aggravates our concerns even more is the lack of information and transparency from the Emirates City developers. None of the said developers provide regular feedback to the investors, and even ad hoc inquiries from the investors are rarely answered clearly and comprehensively. This uncertainty is leading to the loss of investor confidence in the developers and in the Emirates City project as a whole. At this difficult time of global economic crisis, we believe that it is very important for the developers to reassure the investors of the soundness of their decision to invest in the Emirates City. Failure to do so would not only lead to the loss of current investors, but would also create a negative reputation for the Emirates City developers, which in turn would discourage potential new investors and impede the launch of other new projects. To avert this loss of confidence, we would like to propose that the Emirates City developers provide us, the investors, with a monthly construction progress update, circulated to all by means of an electronic mailing list. This update should describe the construction progress during the previous month for each of the Emirates City towers or tower complexes (e.g. Goldcrest Dreams, Paradise Lake Towers, etc.), the works scheduled for next month, reasons for delays and remedial actions taken, as well as address various issues of specific concern to the investors, such as revised payment plans in light of construction delays, etc. Such an update would serve several purposes at once: • keep the current Emirates City investors well informed about the progress of the project and reassure them that their investments are in safe and responsible hands; • create confidence among potential new investors in the integrity of the Emirates City developers and their ongoing and planned projects; • relieve the Emirates City developers of the need to respond to numerous ad hoc queries from a multitude of investors who are concerned about the progress of construction and other related issues. We believe that this proposition would be to the mutual benefit of Emirates City investors and developers alike, and we look forward to receiving your positive response to it. Sincerely, Investors of the Emirates City |
Sign the PetitionEligible Signatories: Investors of the Emirates CityConfirmed Signatures: 266 View all SinaturesUnconfirmed Signatures: 70 After signing, Please go to your mail inbox and confirm your signature.Reads: 4007I have read the above petition statement and I hereby sign the petition: * Your email address will not be available to the public, but will be available to the petition author, as well as being stored in a secure private location for signature validation. |
