The First Group review: Avalon Tower JVC 1

My name is Hussain, and I was on a trip to Dubai with my family in Sep 2017. While walking around, I noticed the many real estate development stands and booths. One of them was the TFG (The First Group). They seemed very authentic and arranged a trip for me to see their developments, then took me to their offices and presented the projects. They eventually lured me into investing in one of their projects (Avalon Tower at JVC) with promises that it will be a prime location before Expo 2020, opening in Dec 2019, and the annual ROI will be from 7 to 11%. I invested AED735K with them plus fees. I finished my payments in 2021 and until today (April 2024), the project has yet to be opened.

I sent multiple emails to customer relations, the CEO, and customer support. All I got back are some promises to open next quarter and excuses for delays. On top of that, they are trying to persuade me to invest more with them - presenting this as a solution. They have negatively affected me and my family. With this money, I could have done something better for my children and their lives.

When I asked them to buy back the property, they refused to refund me. They also refused to help me sell it. I couldn't find anyone to help me sell it, and all the brokers mentioned that it was overpriced.

I took a personal loan for this investment, and this investment was the worst decision I have ever made.

Please don't trust them. Save your money that you worked hard for.