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Assalamu 'Alaikum, Please note that this project is no longer being sold in the UK - For an update, please continue reading. Update - 2nd March 2009 Assalamu 'Alaikum, LMT Deed Holders We have now received a number of phone calls from owners who wish to hand back their deeds and get a refund. Since then, we have spoken at great length with Mr Paul Smythe, Director of Hutch Trust (the organisation that acted as trustees for all the initial purchasers) to see if they would be willing to act as intermediary once again. Mr Smythe is very much in favour of this and has confirmed that his company would be happy to receive the deeds from each owner and hold them as security until Al Muttahed pay back each owner the refund that is due. However, Hutch Trust are not willing to handle any of the transaction, and have proposed Al Muttahed to pay each owner directly, after which they will release the deeds back to the developer. However, we have been trying once again to get in touch with Al Muttahed and agree this in principal, but like always we seem to be waiting for a reply, which takes a very long time to materialise. We also feel that Al Muttahed are unlikely to agree with this proposal as it means that they are paying out the refunds before they get the deeds! If we do not receive a reply by Friday 6th March 2009, we will propose a process that each owner can follow (if they so wish) to recover their money back from Al Muttahed. Non LMT Deed Holders We have also received calls and emails from a few owners that have yet to receive their deeds and who are have been waiting patiently for a very long time now to see if there is any chance of this happening. Once again, we have made several attempts to get in touch with the people at Al Fassal and Al Muttahed to resolve this issue, but again have had no joy. We have also spoken to the Saudi Embassy in the UK, who is not willing to assist. If you wish to make you own enquires on a personal level, their contact details are as follows: Saudi Embassy |
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