Hi SusieQ,

Openshore have told me to make the payments at the beginning of the stated month and definitely not later than the middle of the month if possible, so that there is enough time for GSS to receive the payment before the end of the month.

Just a note on what I am doing about making payments. Openshore advise you to use Currencies Direct to make the transfers and they are helpful etc, but for payments that are below £5,000 they charge a small percentage. I am using Sterling Exchange which again is free to open an account and also they do not charge for any transfers you make - they also provided the best exchange rate out of the two on my first payment.... just another option to look into for some

Hi Sue,

The Payment Plan I have states that the payment should be made on the 1st of the month so I have arranged for the funds to be sent 1 or 2 days before for the next two payments. I contacted my funds trf company and got a rate of 6.7dhs which I booked just for the next to payments. Good news to hear about the official receipts they have sent out. I'm going out in Feb so will go and see the foundations

Hi Wayne,

I'll contact Openshore then and get them to confirm the dates for me - the developers might not need an excuse to charge interest etc.!!

I am going back out to Dubai in October, but I don't suppose there'll be anything to see by then.

Got a rate of 6.8311 for the first payment and 6.7405 for the next one so not too different.

Great to see that we've found some other investors too!!

Sue

.

p.s.

Thanks for the info Chingfordspuurs, and especially re Currencies Direct. I'll check out the other guys you recommend.

Sue

Openshore are great, they will first send you a scanned copy via email then some weeks later send you the originals.
Think i better prebook some dirhams, but i am wondering wether the dollar will strenghten, probably not, but i do think that the pound will weaken unless some nice report comes out showing less inflation or the bank of England cuts interest rates to stimulate the economy.
Please keep this thread/forum active, and if people visiting could take pictures and put them on the site when they visit, that would definitely be a plus

I have also brought a type D studio on the 26th floor with openshore, it's quite nice to hear that it's going ahead, it's my first overseas property and i was quite nervous about it. Thanks for the recommendations, i'll bear it in mind.

James

hi guys. i might be interested in this. can someone tell me where you guys bought this from and for how much. do they have an escrow account?

plz email me on aulhuq@hotmail.com i visited their websites but would appreciate if you guys can tell me for which projects you have gone for.

any idea if construction has actually started??

Rudeboy

You can get the full information from thier website at openshoreproperty. They have offices in the UK and Dubai. However they seem to be just a very good agent with good service levels and just make reccomendation on best properties to buy from. They deal with other developers apart from GSS. They seem very knowledgeable and I have received good information from them.
However, at the end of the day you are buying this property from (and making your payments to) GSS Real Estate who are the developer in the UAE. I have not dealt with them but their websites seem fairly professional
I am considering purchasing in this building - a 2 bedroom on floor 21

Hi Rudeboy

I notice from a previous post of yous that (and to quote you) you say:

''if i were you i wouldnt invest in Ajman unless you personally know the developer. I was thinking of investing in Ajman but I didnt because

1) Prices are good for something which is near to Dubai, but can the developer be trusted??

2) There is no escrow. No security for investors.

3) Already had a bad experience with a scammer taking 30,000dhs from me and running off

4) No electricity. For your information Ajman borrows its electricity from Sharjah Power plants.

5) What is so special about Ajman? hmmm nothing

6) Y not go for something in RAK ok the prices are bit higher then Ajman but atleast they have escrow and the properties are Freehold. You know what you are buying.

7) RAK has something special and its Al Marjan Island something similar to the Palm Island or Jebel Ali Palm. Most of the Europeans especially British ppl are investing in RAK.

8) RAK planning on making its own Dubai land which will be 5 times bigger then Dubai land :s.

9) RAK is all about the nature with sandy beaches and mountains."



What has changed you mind about investing in Ajman??

good question. I still think Ajman is rubbish. What does Ajman have? shopping centers? nope. hospitals? only one i can think of. schools? again not any i can think off. electricity supplied by sharjah power plants. natural gas? nope. petroleum? only one refinery in hu***yeah freezone which happens to belong to Sharjah. there is nothing special about ajman apart from the fact it is 20 minutes away from dubai, 2 hours if there is traffic and the rent is very cheap. apart from that NOTHING special.

however i did come across this article

http://www.business24-7.ae/articles/...0d0bd2485.aspx