A Dubai-based real estate brokerage agency has allegedly vanished with Dh7 million taken from around 280 investors who bought timeshare options in a Jumeirah Lakes property, an investor and a leading construction firm told XPRESS.
The construction firm and the investor are planning to file a class suit against the real estate agency.
In February 2004, PIVA Real Estate Renting Services LLC signed an agreement with Dubai-based construction company Wind Properties to market timeshare options in 13 floors of the Wind Towers, part of the Jumeirah Lakes project.
These holiday options offered investors a fixed return over a period of 25 years and a free week-long stay in the towers once a year.
“This contract was terminated by Wind Properties after a cheque [National Bank of Dubai, No. 4875, issued by PIVA] of Dh4 million bounced in December 2004,'' Shahrokh Nikpour, the lawyer representing Wind Properties, said, adding that the cheque was an advance payment for selling timeshare options in 13 floors of Wind Towers.
“However, despite the termination of the contract, PIVA continued to sell the timeshare options and duped a total of 280 investors and collected a total of Dh7.355 million from them between February 2004 and December 2007,'' the lawyer alleged.
“When my client discovered the fraud, he demanded that PIVA hand over the contracts. PIVA signed with the investors and declare the amount of money collected from the investors,'' he said, referring to Dr Mahmoud Reza Azizi, the owner of Wind Properties. But PIVA avoided doing so.
The brokerage agency also made changes in the format of the contract provided by Wind Properties, he alleged, adding that the agency signed unauthorised contracts with the investors.
Following legal notices from Wind Properties, the general manager of PIVA, Paul Couzins, offered to settle the dues and gave a list of investors. The whereabouts of Couzins are not known.
PIVA, with commercial licence No. 237340, is owned by two Emiratis. One of the owners said: "I am out of that and can talk only when I come back after three days."
Nikpour said: “The owners are out of the country and we will have a meeting with them next week.''
While Wind Properties severed its ties with PIVA after the cheque bounced, the construction company failed to publicise the termination of the contract with the agency.
“We didn't publicise it in newspapers as we thought that PIVA would stop selling the options,'' the lawyer explained, adding that “our client was trying to solve the matter amicably with PIVA''.
Wind Properties neither informed the authorities nor lodged a police complaint.
“Timeshare is a new concept in Dubai and this would have damaged the reputation of the industry,'' a top official of Wind Properties said, requesting anonymity.
Wind Properties allegedly allowed PIVA to operate from its office in the Emarat Atrium building on Shaikh Zayed Road.
An office assistant at Wind Properties' office at suite number 145 in the ‘B' block in the Atrium building confirmed that PIVA's four staff members, including Paul Couzins, assistant Renu, IT executive Vikrant Shankar and office boy Kumar operated from this office.
PIVA was earlier based at Dune Centre on Al Diyafah Road till last September, before shifting to Emarat building. A dedicated phone line for PIVA at Atrium office goes unanswered.
“So many people are calling for PIVA every day,'' the assistant said.
But Nikpour denied that PIVA was operating from his client's office.
He said, “My client was trying to get documentary evidence of the fraud and that is why PIVA was given a space in the office.''
Investor
Indian national Anwar Ahmad Alawi paid a total of Dh68,000 till August 2004 to PIVA. Alawi and other investors were promised a return of Dh3,000 per anum over a period of 25 years. Also, they were offered a one-week stay in the building. “They were supposed to pay Dh3,000 per year,'' Alawi said.
Alawi, an IT executive, is planning to hire a lawyer to file a case against the company. PIVA had told Alawi that they had bought 13 floors in the towers for timeshare investors.
The website
PIVA's website www.pivagroup.com is functional and offers timeshare options in Spain and Canary Islands, in addition to Dubai. The homepage still has two links leading to the Wind Towers. “The Wind Tower's close proximity to leading five start hotels, beach clubs, international restaurants and prestigious landmarks such as Burj Al Arab, make it a very prestigious address in Dubai,'' the website says.
“The 40-level Wind Tower comprises of residential duplexes and penthouses with private roof top gardens and swimming pools. PIVA introduces luxury holiday ownership apartments from first to 13th floor,'' it says.
What are timeshare options?
There are two basic types of timeshare ownership. Traditional ownership offers a single timeshare property with the option to use it for a specific week during the year.
With points-based timeshare ownership investors purchase points or “currency'' to redeem, for access to a variety of resort locations and accommodations, so they can choose when to travel and for how long.
Jumeirah Lakes
According to www.jumeirahlaketowers.ae, “Jumeirah Lakes Towers is a dynamic waterfront community, encompassing attractive residential and office towers alongside hotels and retail outlets. A total of 87 towers stand tall in this prestigious project. 79 towers will be clustered in groups of three and will be surrounded by calming lakes, beautifully landscaped gardens and unique waterways. Four winding, man-made lakes create a vibrant waterfront environment and provide stunning views from all around.
Eight new towers with views over the Jumeirah Islands lakes will stand tall in the JLT Embankment areas. Jumeirah Lakes Towers is situated adjacent to Shaikh Zayed Road, between Interchanges 5 and 5.5 (currently under construction).''
Your comments
I bought time share at Goa from PIVA for Dh 20,000 from their Dubai office in 1997.I was promised about selling my week, etc. but nothing happened. When I tried to contact them they asked for more money for various reasons. I would like to join in suing this company for fraud.
Anonymous, UAE - Abu Dhabi
Posted: May 29, 2008, 20:46
We too would like to retrieve our hard earned money from PIVA. Please show us how and help us. Can somebody provide us with the working contact details of PIVA group, as PIVA is absconding? We have all the original documents.
Younus/Saira, UAE - Dubai
Posted: May 26, 2008, 12:40
Likewise, we too had invested way back in 1997, around Dh14,000 to 15,000, for a timeshare resort in Goa, but the resort was never built due to the lack of permissions from the Goa Government. But PIVA never bothered to inform us of the same. We came to know through other sources during our visit to Goa. We then followed up with PIVA in Dune Centre, Dubai, discussed with one of the Cust. Serv. Cons to cancel our agreement and return the money. But they kept convincing us to upgrade our week with another option, which we never accepted. And now they are absconding. Please show us a way and help us retrieve our money. We must all take those PIVA cheats/frauds to court and put them behind bars.
Younus/Saira, UAE - Dubai
Posted: May 26, 2008, 12:34
I have also been cheated by PIVA. I had purchased PIVA timeshare in Goa in 1997 which never materialised. Then in 2003 I was forced to upgrade to PIVA GOLD (paid about Dhs25000/-). I had pending weeks to be utilised which I wanted to use but they never made any bookings for me on time. I was also made to purchase PIVA additions which never materialised. In Nov 2007 when I went to UK they(Paul and Vikrant) asked me to make the bookings and said that I would get a re-imbursement(about Dhs14,000/-) which I have not yet got.
Can anybody tell me how I can get my money back? I think all the PIVA GLD members should get together and fight together to get back our hard earned money back.
Sujaya, UAE - Dubai
Posted: April 23, 2008, 07:21
I am victim of PIVA. Way back in 1996, I subscribed for their timeshare ownership for a resort (Resort Do Rio, in Goa) and I paid $ 15000 on 21 Nov 1996 to PIVA Real Estate & Rental Services LLC, in Kuwait City. I have all the original documents including membership, PIVA Privilege Club certificate and payment receipts.
Please advise if something can be done against this company to recover my hard earned money. I feel the government should take some initiative or help us to get the money refunded from this fraudulent company.
M, Kuwait
Posted: April 22, 2008, 16:14
I paid PIVA a total of Dh125,000 in 2003 for a timeshare in Dubai. I have been trying to contact them for the past five months to find out when the project will be ready, but I could not find anybody to talk to.
Anonymous, UAE - Dubai
Posted: April 18, 2008, 16:01
I have paid Dh 65000 to PIVA for the Wind Tower Time Share after they advised me to shift my time share from Spain to Dubai. I stopped paying the money when I was around Dh14000 from the full payment. I have tried to call them and spoke to someone called Hend. She told there is some delay and they will call you. These days when I am trying to call them, there is nobody answering. I am searching for someone who can tell me what I should do now.
Anas, UAE - Dubai
Posted: April 17, 2008, 18:43
I have invested KD2000 in PIVA. Now I am trying to find ways to retrieve my investment - even just half of it.
Anonymous, Kuwait
Posted: April 10, 2008, 13:34
In 1995, I had joined PIVA'S Sunset Dunes Time Share and since then have invested Dh 46,500 in upgrades the last of which is the Wind Tower.
Since these frauds tarnish the good name of Dubai, the Government should seek and prosecute those responsible and help us get our money back.
David, Canada
Posted: April 02, 2008, 03:50
I paid Dh50,000 for 25 years plan with one week a year in Jumeirah Lakes Towers. I contacted Mr. Paul Cousin several times, but I could not find any responses. Please tell me what I should do. Thanks.
Anonymous, Saudi Arabia
Posted: March 30, 2008, 03:03
I am another victim of PIVA and would like all of us to come together and file a suit against PIVA. Contact details for Paul would also be highly appreciated. I can be contacted for this matter on 4412477 (050). It's time to move and sitting around won't help. Let's get our money back.
Amir Cherif, UAE - Abu Dhabi
Posted: March 09, 2008, 11:32
Just today I happened to see this news item and I’m shocked. We also have a timeshare from PIVA and would you please guide us as to whom should we contact now? Does the company continue with its timeshare agreements already issued? Kindly give us information about whom to contact. Being expats here, investment of this kind is no mean task for us. It is hard earned money .
Shobhna Ravi, UAE - Dubai
Posted: March 06, 2008, 11:19
We are also in a dilemma over PIVA. We purchased our policy from Kuwait 5 yrs ago. We have been lucky to enjoy 3 weeks of our timeshare, but we have paid in full for our "Lifetime Membership". Now the offices in Kuwait are closed and we cannot reach anyone in Dubai. Please make a comment here if anyone has information or if someone is planning a lawsuit against PIVA.
Brenda & Adel, Kuwait
Posted: February 27, 2008, 12:15
I never thought this would happen. Please include me as one of the victims of this scam. I need to get back the amount I paid. Anyone knows how this could be done?
Anonymous, Bahrain
Posted: February 19, 2008, 16:42
I have paid Dh52809 in 1996 to PIVA for the time share for two weeks in Goa, India and more money for additional facilities. How can I get this money back? How to retrieve my right?
Warda, UAE - Dubai
Posted: February 16, 2008, 12:49
I am a very old victim of PIVA. Way back in 1997, I subscribed for their timeshare ownership for a resort (Resort Do Rio, in Goa) and I paid Dh12, 623 on 14 Sept 1997 to PIVA Real Estate & Rental Services LLC at Dune Centre Office, Dubai. I have all the original documents including membership, PIVA Privilege Club certificate and payment receipts.
Please advise if something can be done against this company to recover my hard earned money. I feel the government should take some initiative or help us to get the money refunded from this fraudulent company.
Anonymous, India
Posted: February 06, 2008, 12:25
I am a victim of PIVA and I am writing from Islamabad, Pakistan. I am a business-man. I have received an email from PIVA earlier in December 2007 saying that PIVA offers me a visit visa which would be converted into residential visa if I am interested in their timeshares ownership scheme and all I have to pay was Dh10000 as advance for earlier booking of prime-located flat which is very immediately available. And they said they will manage my visit visa, including return ticket from Karachi.
I sent Dh10000 via a friend to PIVA office located in Emarat Atrium Building Sheikh Zayed Rd, and I got an original computerized receipt, received via courier of cash collection by PIVA official.
They are supposed to send me an email in the first week of January but I am still waiting for their email. The telephone number they have provided are not responding and all the cell phones are turned off. I just try to forget it. If this is the condition in Dubai, well, I am very fine in my country.
I wanted investments in Dubai since a long time, for me and my children’s better future. But, after this fraud, I have lost trust on Dubai-based real estate companies and investment in Dubai. I want to visit Dubai and file a case against PIVA, but I have a very busy life here. So I leave this matter on Allah.
Anonymous, Pakistan
Posted: February 06, 2008, 00:22
I have also invested with PIVA in the Wind Towers. Early December, I contacted Paul Couzins. He assured me that PIVA owner or Manager (an Iranian doctor whose name I can’t recall) had various properties in Dubai. He was ready to rent them out in order to pay all the timeshare investors their yearly fixed return until the Wind Towers issue would be resolved with Nakheel Properties, according to Paul.
Could you please inform me whom I should contact to follow up and claim my invested amount? Is it the Wind Properties' lawyer or is it Suleiman Mohamed Khalifa Al Suwaidi and Youssef Mohamed Khalifa Jumaa Al Suwaidi, the two Emirati partners in PIVA Real Estate Renting Services LLC? Awaiting your feedback and support to bring justice to all cheated investors.
Elias, UAE - Dubai
Posted: February 05, 2008, 23:02
I have paid Dh85000 to PIVA for the Wind Tower Time Share and they promised me Dh10000 every month for 25 years and 1 week’s time (during peak season) at Wind Tower for life time. I spoke to Paul last month and he told me that they are going to pay very soon, which he promised so many times over the phone.
I hope that Dubai government will take some serious action against these who are involved in this and I pray that we get our hard earned money back.
Shahid, UAE - Dubai
Posted: February 05, 2008, 22:43
I had invested in PIVA in 1995, for a Time Share Option (property in Goa, India). I paid Dh20, 000.00. After that I kept on asking them about the project and the answer was this: Due to ecological issues in Goa, the project is not going ahead and as far as the RCA affiliation is concerned, no issues.
PIVA sales team keep on calling me to offer properties in Dubai for the rental income, etc., (thanks God). Due to one reason or other I have been postponing my meeting with PIVA for almost a year now.
Later, when I wanted make booking for Time Share, I contacted RCI for booking. Then I understood that my membership through PIVA is not valid, and they asked me to contact PIVA. This was in November 2007. I started calling the number of PIVA in DNES building but in vain. This news of closure of PIVA itself is shocking. PIVA was present since 1995. I think the fraud is much bigger than mere Dh7 million. Hope some action will be taken on them and we will be compensated.
Basavaraja, UAE - Dubai
Posted: February 05, 2008, 08:55
I have paid Dh140000 in 2004 to PIVA for the time share for two weeks in the Wind Tower. How can I get this money back?
Mehrdad, UAE - Dubai
Posted: February 03, 2008, 23:33
PIVA has been operating way before 2004. I have a timeshare ownership in Spain that they used to manage under their PVOC (Piva Vacation Owners Club). I faced difficulty booking my timeshare last November 2007 only to find out with RCI that my timeshare ownership has been suspended by the resort for non-settlement of the management fees since 2006. I contacted the resort and was confirmed of the default in payments. PIVA was no where to be reached, even their Kuwait Office. I had to shell out about Dh. 8,000 to reinstate my ownership or forever loose my timeshare with the resort. I suggest you make a headline out of this and alert all timeshare holders who had dealt with PIVA before to check up on the status of their ownerships or risk loosing them when the reinstatement grace period lapses.
Anonymous, UAE - Dubai
Posted: February 03, 2008, 09:08
I read about the scam. I too had invested with PIVA. Can you give me the contact of the Wind Tower lawyer?
Cirilo, UAE - Dubai
Posted: January 31, 2008, 12:06
