CB Residential Sales DAMAC Properties 8% guaranteed return on arta/25/2516

2516

Butnaru of North Bergen, US

Oct 11, 2023 4:47 pm EDT

Verified customer

Resolved

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Featured review

The path of a businessman who invests in DAMAC is strewn with unpleasant surprises.

You start by being tempted by the 10% annual GUARANTEED ROI for the first three years. Then the pandemic comes and the ROI drops to 8%. You accept this change and sign the Sale Purchase Agreement for the purchase of an apartment in the RADISSON HOTEL, ensuring that you will simultaneously sign the RADISSON PROMOTION that promises 8% GUARANTEED ROI for the first 36 months, with 6 biannual payments (RETURNS) of 4% each. You are given a 3 Years Payment Plan and it is suggested to you that the biannual ROI returns will help you pay the installments over the three years. This, in my case, was a lie! You will soon find out that the ROI returns will start ONLY after you pay the full price of the apartment.

You do the Handover and sign the UMA with DAMAC PROPERTIES, which undertakes to pay you ROI after every 6 months starting from the Commencement Date. No one will officially communicate to you (according to the "Particulars/Commencement Date" obligation from the UMA) the start date and you will get tired fighting to get these biannual Guaranteed Returns on the terms provided by the UMA. Expect delays of many months.

After I obtained 4 of the 6 biannual payments of 8% Guaranteed ROI for three years (promised by PROMOTION), while I was requesting payment for RETURN-5, the Financial Department surprises me very unpleasantly by sending me the Owner's Revenue SOA. It is clear that they forgot that they still have to pay me two biannual payments of 4% each of the net purchase value, in accordance with the PROMOTION he committed to when signing the contract.

Neither the conditions nor the deadlines from the initialed documents at the start of the business are valid for negligent and insufficiently informed officials. Don't stop fighting for your contractual rights! I have already (yet) placed a Support Ticket # 316103 asking them again to pay me the RETURN-5. The fight will be long and hard, but you be sure that people from high level DAMAC Management will not tolerate that the poor quality officials to tarnish the reputation as a good business partner of DAMAC PROPERTIES.

Let's let the LAW rule between us!

Informing you that no one has contacted me regarding to my previous post ("8% Guaranteed Return") posted 02 October 2023, I hope that my today complain will reach however the attention of a high level DAMAC Management person.

Desired outcome: PLEASE COMPLY THE OFFICIAL DOCUMENTS WHICH YOU INITIATED WHEN STARTING THE BUSINESS.

DAMAC Properties response

Oct 13, 2023 6:59 am EDT

DAMAC Properties customer support contacts

Phone numbers

+971 43 019 920

+971 43 731 000

Address

501, 5th Floor, Al Moosa Tower 2, Sheikh Zayed Road, Dubai, AE

Website

www.damacproperties.com

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View all DAMAC Properties contacts

Hello,

We regret the disappointment and are here to help. Your concern has already been escalated to the respective team, and they will get in touch with you soon to address it.

Regards,

Team DAMAC

Resolved

This complaint has been resolved automatically due to user's inactivity.

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DAMAC Properties Contacts

DAMAC Properties phone numbers

+971 43 019 920
+971 43 019 920

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5%
Confidence score

Customer Service

+971 43 731 000
+971 43 731 000

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5%
Confidence score

Head Office

+971 45 122 600
+971 45 122 600

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Ocean Heights Office

+971 43 763 600
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Park Towers Office

+971 48 183 300
+971 48 183 300

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20%
Confidence score

DAMAC Hills Office

+971 45 905 222
+971 45 905 222

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Sheikh Zayed Road Sales Office

+966 112 932 883
+966 112 932 883

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Riyadh, Saudi Arabia

+966 122 330 210
+966 122 330 210

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Jeddah, Saudi Arabia

+974 44 666 986
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Doha, Qatar

+965 22 498 727
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Kuwait City, Kuwait

+961 81 647 200
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Beirut, Lebanon

+234 14 406 188
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Nigeria

+86 400 617 8008
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China

+91 226 184 2433
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India

+7 499 999 2402
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Russia

+971 4 515 6111
+971 4 515 6111

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More phone numbers

DAMAC Properties emails

corporatecommunications@damacgroup.com

100%
Confidence score: 100%

Support

socialdamac@gmail.com

100%
Confidence score: 100%

DAMAC Properties address

501, 5th Floor, Al Moosa Tower 2, Sheikh Zayed Road, Dubai, United Arab Emirates

DAMAC Properties social media
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Nov 20, 2024