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Property scams unearthed in Dubai

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Property scams unearthed in Dubai - property scam - Dubai

Property owners have turned to the police following failed attempts to recoup owed rental funds from at least two Dubai property firms they hired to rent and manage leased property units.

The real estate agents in are in the spotlight after being accused of bouncing cheques.  Owners say they are owed rental fees by FHS and MFRE.

In a meeting of concerned owners in Dubai Marina on Friday, property investors said that they hired FHS, which claims on its website that it represents more than 5,000 properties and employs 100 people.

FHS was tasked with managing and leasing 14 of their properties but, to the best of their knowledge, had closed its office late last week and officials from the company were not reachable.

Two of the owners said they had approached the company to try and sort out issues with bounced cheques and had been told initially, at a time when offices of the firm were still open, that they would be issued new cheques. However, no new cheques were forthcoming and the owners assert they have still not been paid rents collected by the property management firm from tenants in new Dubai.


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