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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 - 23rd January 2009 There has been a lot of misinformation about the Le Meridien Towers (Al Muttahed) project and the way it has been handled by all parties concerned. This letter hopes to clarify some of the misguided information and provides further steps that can be taken by individual clients to resolve the matter. As you may recall, the project was launched in early 2006 with great enthusiasm. Being the first project of its kind, it was eagerly anticipated my Muslims all round the world and numerous agents worldwide were appointed to sell an apartment in this project - located in the holy city of Makkah on a time share bases.
All marketing agencies where informed by AF to open up large offices to handle the magnitude of enquiries and at the same time promised financial compensation towards their online and offline marketing costs - this never ever materialised and all agents ended up having to fund their own marketing costs. Upon purchase, a client paid Hutch directly who was then responsible for the distribution of funds directly to Saudi Arabia to AF and SA. Although a lot of clients have received their deeds for the properties they have purchased, there are the unlucky few who have not. After several enquires to AF and SA, these clients were told that due to internal issues their deeds had been delayed and would be issued soon. However, it quickly became apparent that AF was holding on to some of the funds and not passing everything to SA and that was one of the reasons why the deeds had not been issued. During this time, SA sold the project to Al Muttahed, who in turn inherited all the associated problems. Throughout the whole phase of this project, there has always been a lack of communication and poor customer service from the Saudi Arabian companies, and therefore most of the other parties terminated their agreements with SA and AF and walked away. Unfortunately for Al Muttahed, they have been left with a situation that has become difficult to salvage and have had owners calling them directly to rectify a situation that was not of their doing. When promoting the project, the Saudi companies agreed that anyone buying into the project would get the following:
It transpires that these promises have not been kept, and owners are finding it very difficult to get a visa - It is not as easy as the Saudi companies claimed it would be, especially if you reside outside the UK. From a top level perspective, it would appear that AF is to blame for all these issues. However, numerous attempts to contact them and resolve this have been unfruitful. Al Muttahed, the new owners of this project have been helpful in providing information, but they have only inherited a dubious project and are helpless themselves. So what is the next step? For clients that have their title deeds - Al Muttahed have recently announced that they will buy back all the units from every purchaser that has in the possession a set of title deeds at the initial purchase price. The procedure to buy back the units is still being formalised and details will be posted on this site over the coming days. In the meantime, we urge all owners NOT to send back their deeds to Al Muttahed until such time that a procedure is in place. For clients who still have no title deeds – Unfortunately Al Muttahed is not offering a refund in your situation. After making several attempts to get the relevant companies to issue your deeds, all agents have once again come up against a brick wall. We feel that you personally need to contact all individuals at AF and SA to find out where your deeds are and where the money you paid has gone. Sadly, there is nothing more any agent can do in this case. You may also wish to contact the Saudi Embassy in your country and any other overseas investment authorities that you feel may be able to assist. CONTACT DETAILS Set out below are the details of companies and individuals that can be contacted for further resolution of these issues: ALFASSEL GLOBAL SERVICES CO. Anas Ismail Habis (Chief Executive) – anas@alfassel.com SAUDI AMJAD AL MUTTAHED CO. Mr. Anas Al Doulatly – Vice President
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