International City - Italy

[yousafnoor]

Any idea how much selling price is going on in Italy sector?
Is it better to sell the apartment empty or first have it rented and then sell?
Did any body achieved success in getting a reply from ARY?

[AmirHusain]

Hi folks,
A bit of background I am a Pakistani Canadian and for some reason like all other expatriates I had an urge of coming to Pakistan and investing money here. I didn’t want to start with a huge investment, so I bought a studio flat in Spanish block in International City through ARY Properties. My initial plan was to invest in a local property but people told me not to trust any of the local market as lot of frauds may surface during or after the deal. ARY being a Dubai based group, I thought would be a better option. I was initially told that the property would be 70% finance from ARY. Where they would finance and my rent would be my mortgage payment. Then they reiterated that statement and want the full 100% after taking the initial 30%. As per the new contract, 30% would be paid as the last installment after the possession of the property which was due in September 2006. In September 2006, ARY didn’t hand over the property but they send a further notice that if I fail to pay 20% within a week my property would be cancelled. As I didn’t want to start a court proceeding in Pakistan, I hesitantly paid them another 20 % with a promise that the property be handover in the beginning of 2007. Now its coming to the end of March where I have heard the news they are advertising that the last 10% be send to them before 30th march or they will cancel the property. And possession is suspended indefinitely as some of their desperate customer has complained against them to NAB (National Accountability Bureau) where the case reside and the hearing is indefinite. All I ever wanted was a stupid $60k flat through a company which I thought had some Pakistani roots. And yet again I forget I am dealing with one of the most corrupt society on the planet. Pakistan is definitely a fail state where corruption is deep rooted. The NAB would definitely be interested in bribery and sucking blood out of the poor investor. The main culprit ARY Properties would get away with some words of advice and a useless warning. It’s a shame Pakistan is like what it has become now and a shame I am a part of it.

Regards

Amir Husain

[AmirHusain]

Hi folks,
A bit of background I am a Pakistani Canadian and for some reason like all other expatriates I had an urge of coming to Pakistan and investing money here. I didn’t want to start with a huge investment, so I bought a studio flat in Spanish block in International City through ARY Properties. My initial plan was to invest in a local property but people told me not to trust any of the local market as lot of frauds may surface during or after the deal. ARY being a Dubai based group, I thought would be a better option. I was initially told that the property would be 70% finance from ARY. Where they would finance and my rent would be my mortgage payment. Then they reiterated that statement and want the full 100% after taking the initial 30%. As per the new contract, 30% would be paid as the last installment after the possession of the property which was due in September 2006. In September 2006, ARY didn’t hand over the property but they send a further notice that if I fail to pay 20% within a week my property would be cancelled. As I didn’t want to start a court proceeding in Pakistan, I hesitantly paid them another 20 % with a promise that the property be handover in the beginning of 2007. Now its coming to the end of March where I have heard the news they are advertising that the last 10% be send to them before 30th march or they will cancel the property. And possession is suspended indefinitely as some of their desperate customer has complained against them to NAB (National Accountability Bureau) where the case reside and the hearing is indefinite. All I ever wanted was a stupid $60k flat through a company which I thought had some Pakistani roots. And yet again I forget I am dealing with one of the most corrupt society on the planet. Pakistan is definitely a fail state where corruption is deep rooted. The NAB would definitely be interested in bribery and sucking blood out of the poor investor. The main culprit ARY Properties would get away with some words of advice and a useless warning. It’s a shame Pakistan is like what it has become now and a shame I am a part of it.

Regards

Amir Husain

[AmirHusain]

Hi folks,
A bit of background I am a Pakistani Canadian and for some reason like all other expatriates I had an urge of coming to Pakistan and investing money here. I didn’t want to start with a huge investment, so I bought a studio flat in Spanish block in International City through ARY Properties.

My initial plan was to invest in a local property but people told me not to trust any of the local market as lot of frauds may surface during or after the deal. ARY being a Dubai based group, I thought would be a better option. I was initially told that the property would be 70% finance from ARY. Where they would finance and my rent would be my mortgage payment. Then they reiterated that statement and want the full 100% after taking the initial 30%. As per the new contract, 30% would be paid as the last installment after the possession of the property which was due in September 2006.

In September 2006, ARY didn’t hand over the property but they send a further notice that if I fail to pay 20% within a week my property would be cancelled. As I didn’t want to start a court proceeding in Pakistan, I hesitantly paid them another 20 % with a promise that the property be handover in the beginning of 2007.

Now its coming to the end of March where I have heard the news they are advertising that the last 10% be send to them before 30th march or they will cancel the property. And possession is suspended indefinitely as some of their desperate customer has complained against them to NAB (National Accountability Bureau) where the case reside and the hearing is indefinite. All I ever wanted was a stupid $60k flat through a company which I thought had some Pakistani roots.

And yet again I forget I am dealing with one of the most corrupt society on the planet. Pakistan is definitely a fail state where corruption is deep rooted. The NAB would definitely be interested in bribery and sucking blood out of the poor investor. The main culprit ARY Properties would get away with some words of advice and a useless warning. It’s a shame Pakistan is like what it has become now and a shame I am a part of it.

Regards

Amir Husain

[aveshbachav]

has anyone got their apartment yet from ARY??? and hasd anyone got it rented?? who is appointed agent for the company for doing rentals???

[SAH]

no apartment till today I call today their office in khi they says you will receive letter from UAE within next 2-3 working days so i m waiting

[SAH]

Mr. Amir don't go sad they cannot run country is changed.

[SAK29]

I recently recieved a letter of possession from the ARY Residencia Group pertaining to my International City , Italy 1 Bed Apartment. To my surprise, the have asked for a 5% Service/Documentation charge to be paid. After I argued with them for a while, I was sent a revised letter. In this letter they had broken down the 5% charges into separate headings, all of which were never mentioned to me when I was buying the apartment. The charges were broken down into the following categories :

Survey and Inspection Charges @ 2.5% AED 7000 +
Clearance and Handing Over Charges AED 2500 +
Documentation and Legal Charges AED 3500 +
ARY Service Charges AED 1000 +
Sub-Division of the Unit (Land-Dept) AED 1850
Deposit to DEWA for Meter AED 1800
Security Deposit (DEWA) AED 2000

This time the amount has gone up from the previously mentioned 5% of cost price that they have asked for.

Can the owners of any ARY International City, Especially those living in the UAE, please contact me via email or reply, ASAP to discuss these inappropriate charges. I would like to talk to you over the phone, and will give you my number if you contact me.

A frustrated property owner
SAK

[MAZ]

I ve the same experience with ARY, they are asking around 21,000 DHS more for the studio apartment by saying different things like service charges,survey charges documentation charges etc. Now I m planning to do some legal action, If u guys also want to do some opposition against ARY then contact me. 1st we ll talk to nakheel then dubai land department and then in the end we ll file the case. So contact me if u want to show ARY that they r not in pakistan where they can do anything what they want..........

[aveshbachav]

hi redevil, any idea when U8 is gonna be hand over??