The Ordeal of A Nigerian Business Man In UAE: How I Fought  Against Real Estate Cartel In Dubai.

AS wealth- to- do Nigerians continue to explore the investment opportunities in Dubai, United Arab Emirates (UAE), a Nigerian business man, who confided in Mega Icon Magazine has alerted Nigerians business men to be wary of people of dubious and mischievous characters whose main priority is to capitalise on the prevailing corruption in the country by swindling any Nigerian investor in the United Arab Emirate of their hard- earned money.

The source, a Nigerian based Engineer and Entrepreneur made this revelation against the backdrop of the experience he had while dealing with a Dubai the ‘First Group’.

According to the  source, who spoke to our correspondent via telephone conversation from his base in Dubai narrated his ordeal which ensued as a result of his desire to invest in real estate in the oil rich country.

When our correspondent sought for clarifications on what transpired in the said business transaction, he revealed: “being a legitimate business man, I have always desired to invest in real estate and having visited Dubai several times and knowing the great opportunities inherent in investing in the real estate in that country, I was happy when I had an opportunity to invest in their hospitality business, not knowing that i was dealing with people of dubious character.

“I was approached to buy an Executive Suit in the First Central Tecom, Dubai, United Arab Emirates from first group property . I made some payment through a company, the seller’s representative, named ‘TGF PROPERTY MANAGEMENT’. The agreement was that the suite will not be totally handed over to me until I finish all the payment they requested for.

“Eventually, I made the final payment of 1,597,231 United Arab Emirates Durham on the Seventh of May, 2013. I was expecting them to do the final hand over of all the necessary documents which they refused, but instead, they told me that the suite will be managed by another company, ‘The Forever Green Management LLC’ on my behalf.

The source continued : “What happened afterwards was that they started remitting some small amount of money to me which according to them is the proceeds from the suite. I was surprised because we never discussed this and moreover, how they came about the rents for the suite was not disclosed to me. All my plea to make them do the needful and acted based on the agreement we had fell on their deaf ears.

“I was left with no choice than to hire an attorney who engaged them in a legal tussle and eventually got them to release the “Title Deed”, the document which states my proof of ownership just August, last year (2016) which is three years after I made the final payment”.

“Up till now, I am yet to take the full possession of the suite but I am confident that with the faith in God and help of my attorney, I will totally hands off these people from the property. I am saying this because I don’t want other people to make the same mistake and should be more watchful and careful as regards the people they want to be doing business”, he warned.

 

• Hazeez Ayansola.