| Administrator | | Posts: 95 Join Date: Jan 2007 | |
|  Re: Investing in Knightsbridge Court -
11-06-2008, 01:37 PM
THIS THREAD IS CLOSED FOR POSTING ACW Holdings have provided the following official release and statement on the allegations and concerns raised on this forum. For those that have queries or additional concerns, please contact ACW Holdings directly on the email address provided below. Thank you for your understanding. Investing with ACW Holdings The Internet is a great place for people to be able to communicate, to discuss with one another topics of interest and in this case, investing in Dubai and the United Arab Emirates. Forums can become confused quickly and can spread rumours that aren’t just damaging to a company’s reputation but cause frustration and upset for people who have invested in a project. A productive forum is about being responsible with information and the more open the dialogue we keep, the better the information we will all benefit from. As the Marketing Manager at ACW Holdings, it is my responsibility to develop the brochures, websites and television adverts. Before we approach working on a brochure or any information to tell you about our projects, I sit with senior management and discuss each and every aspect of the development. It’s important to portray information accurately and we invest heavily in models, artwork and renderings to give you a real sense of what your property will feel like before you buy. A property investment is among the most significant investments you can make in your life, and we want to make sure that your investment is safe with us. Why has ACW Holdings responded in a forum? I’ve started addressing a few forums directly to answer questions because people are asking and because it lets us know what people think and how they perceive the company. I’m not responsible for Customer Service Management, but I am interested to know what is happening and to make sure that any reasonable question is met with a reasonable answer. RERA Registration Yes we are RERA registered. RERA registration as a process requires an extensive company audit and a lot of documentation to ensure that all transactions are transparent. The introduction of RERA hasn’t been simple. It impacts on every single part of the business. Aspects of RERA have had impact or potential impact that no-one was clear on because it’s a new law intended to make investors more secure and changed how everyone does business. We are RERA compliant at all stages of a project and have escrow accounts in place for all of our developments. Some projects such as Hanover Square obviously were on the market before the implementation of RERA, and we had to transfer those accounts to Escrow, and that could only take place after we completed the RERA registration itself. All of the RERA certificates can be found on the website: www.acwholdings.com/rera/ An Emerging Market We need to be realistic, Dubai is an emerging property-market with a different kind of government and process to that a lot of investors are used to in the United Kingdom. What this means for private developers is that we have to work closely with the Master Developers and their contractors. In the case of Jumeirah Village, that is Nakheel and Ellis Don. Jumeirah Village is an extensive community - it’s going to become one of the most important hubs in Dubai. But when you consider an emerging country, that means there isn’t as much infrastructure, a lot of it has to be built and the impact of decisions at a master developer level sometimes aren’t seen until somewhere down the project. Any delays in construction as discussed here have resulted from decisions by Nakheel; the Government Developer. Nakheel’s decisions are in the best interests of all owners of Jumeirah Village Property, at the moment they’re expanding the infrastructure to ensure it meets the demands of the residents on a daily basis. It’s a much better option than having a problem with your water supply after you move in because the Master Developer underestimated. More importantly, for the investor – even with delays – the value of your investment grows each and every day! The rental value of the neighbouring areas such as the Springs, Emirates Hills and Meadows has risen over 300% - that’s an extremely positive indication for the future of Jumeirah Village. We’re working with consultants, contractors and the Master Developer heavily at the moment with regard to our Jumeirah Village projects. We’ve appointed the contractors for foundations, construction and fitting. What We Do At ACW Holdings Our goal and the design of each of our developments is optimized for return on investment for our buyers. You might ask why Jumeirah Village? We chose this location because it will be an important residential and business hub in New Dubai. It’s 15 minutes drive from major tourist attractions such as the Burj Al Arab, Madinat Jumeirah, and Mall of the Emirates. When the new international airport opens, this will become a bustling and vibrant community and the metro will expand ease of access to the rest of Dubai. Doesn’t that sound like a great place to invest? We approach all of our projects with the same kind of analysis and the launch of new developments shows our commitment towards becoming a leader in UAE property-development. To achieve that goal, we need to provide, you the investor a quality product that meets your satisfaction and returns your investment. Further Information If you have any questions for us, then please contact us at: info@acwholdings.com |